How to perform Annual Closing in SAP.?

Question

Dear SAP Gurus
How to  perform Annual Closing in SAP.?
Regards
ND

Answer 1

Year End activities:
Some more from old postings
Year end closing Activities:
1. Calculate production work in progress on process orders which are not technically complete.
2. Carry out Assessment cycle for Cost Centers.
3. All month end closing Activities should be carried out.
4. Carry Forward Balances to next year
(With TC: F.16 we can carry forward the balance to next year.
With TC: OBH2 copy the number ranges to next year
Open next year periods by selecting the Posting Period Variant.
then test by posting the transaction in F-02)
Year end clsiong activities
1)With TC: F.16 we can carry forward the balance to next year.
2) With TC: OBH2 copy the number ranges to next year
3) Open next year periods by selecting the Posting Period Variant.
4) Calculate production work in progress on process orders which are not technically complete.
5) Carry out Assessment cycle for Cost Centers.
6) All month end closing Activities should be carried out.
7)Carry forward Vendor & Customer Balances: TC: F.07
2. Assets:
i) TC: OB 52 - for assets 2 years can be openned at a time.
ii) check which year is closed: TC: OAAQ
iii) Close the year current year: TC: AJAB
Note: Unless depreciation for all the months is posted for all the assets you cannot close the year.
iv) Open year newyear: TC: AJRW