Navigation for Month End Closings &  Some inputs on Monthly closing issues

Hi Experts
Some inputs on Month End Closing and
what type of issues will be come accross during the closing( Mention any ).
Navigation for the Month End Closings

In the case of Inventory: Monthly Accounting Period closure, you need to ensure that there are no unprocessed shipping transactions, uncosted material transactions, pending WIP costing transactionsm etc.. The number of these kinds of transactions should be Zero. For example, if there are any unprocessed shipping transactions which might be stuck/errored out during Interface Trip Stop program run, then you can NOT close the period for that month until you clear these transactions. Check the metalink note, 262979.1 for the same.
Navigation is Inventory > Accounting Close Cycle > Inventory Accounting Periods. Click on the Pending button to see the pending transactions. If there are NO requried resolutions to be done, you can close the INV period for that month.
Regards,
Hemanth

Similar Messages

  • How do I set the PXI 6031E for single ended or differential input?

    6030/1/2/3 E manual states that the 6031 and 33E has software selectable single ended or differential input per channel.  How do I set it in labview?  I have been unable to locate the property.

    Are you using traditional daq or DAQmx??
    look at this VI  to understand how to select this feature for both Versions of DAQ
    any doubts, do get back
    Regards
    Dev
    Message Edited by devchander on 03-08-2006 10:30 PM
    Attachments:
    mode.vi ‏23 KB

  • Month End Procedures

    What is the procedure in month end?How do we do month procedures?can anybody give me some examples in month end procedure?

    hi Kischow,
    Month-End Closing: Assets
    Checklist
    <b>Assets</b>
    Fixed Assets
    -Execute the depreciation run (SAP FI-AA)
    <b>
    Current Assets</b>
    Inventories
    -GR/IR clearing account – clarify any differences and correct them if necessary (SAP LO-MM)
    -Clear the GR/IR clearing account (SAP FI)
    Prerequisite: Accounts have already been maintained by (SAP LO-MM)
    Period closing program (SAP LO-MM)
    -Settle the work in process (SAP FI-CO)
    -Post the reconciliation ledger (SAP FI-CO)
    Receivables and <b>Other Asset Items</b>
    -Check whether all the billing documents have been posted (SAP LO-SD)
    -Valuate the foreign currency for the open items (SAP FI), see also Payables
    -Valuate the foreign currency for the balances (SAP FI + SAP FI-TR)
    <b>
    Accruals and Deferrals</b>
    -Post accruals/deferrals (SAP FI-TR + SAP FI)
    <b>Liabilities and Owner’s Equity</b>
    Accruals
    Payables
    -Payroll accounting (SAP HR)
    -Valuate the foreign currency open items (SAP FI), see also Receivables
    -Valuate the foreign currency G/L balances (SAP FI)
    Accruals and Deferrals
    -Post accruals/deferrals (SAP FI)
    Miscellaneous:
    Additional Tasks (SAP FI)
    -Post accruals/deferrals (SAP FI)
    -Check whether the accrual/deferral documents have to be reversed
    -Carry out recurring entries and update the batch input session (SAP FI)
    -Reconcile cost of sales accounting/period accounting/profit center ledger (SAP FI/SAP FI-CO)
    -Close the posting period (SAP FI)
    -Run the reconciliation program (SAPF190)
    This program checks the documents and transaction figures in the R/3 System. You can only execute this run if you do not intend to carry out any postings for the period, otherwise reconciliation differences will occur. You can schedule the job to run in the background.
    Printing Reports and Notifications:
    -Financial Statements (Balance sheet and P&L account)
    -Advance return for tax on sales and purchases (VAT)
    -EC sales list (quarterly)
    -INTRASTAT declarations (SAP LO-MM)
    -Account balances (SAP FI)
    -Journals (SAP FI)
    Internal Closing (SAP FI-CO)
    Internal order and project-related tasks:
    -Transfer postings, surcharges, project interest calculation, settlement
    Product and production-related tasks:
    -Release a standard cost estimate, perform inventory costing, transfer postings, surcharges
    Variance calculation, results analysis, and settlement
    Cost center-related tasks:
    -Transfer posting, distribution, assessment, activity allocation, transfer key figures, cost center variance, price calculation
    Results-related tasks
    -Evaluate actual postings, transfer external data, distribution, assessment, transfer balance sheet items to Profit Centre Accounting (PCA).
    Pls click on the below link for more info..
    http://help.sap.com/saphelp_46c/helpdata/en/c2/37c1767ab411d1950300a0c93031df/frameset.htm
    Assign the points.....
    Ranjit
    null

  • Month End Procedure

    Please explain settings for the Month End Procedure
    What are the precautions need to be taken

    Hi,
    Month end processes to be followed:
    Month-End Closing: Checklist
    Assets
    Fixed Assets
    -     Execute the depreciation run and update the batch input session (SAP FI-AA)
    Current Assets
    Inventories
    -     GR/IR clearing account u2013 clarify any differences and correct them if necessary (SAP LO-MM)
    -     Clear the GR/IR clearing account (SAP FI)
    Prerequisite: Accounts have already been maintained by MM
    -     Period closing program (SAP LO-MM)
    -     Settle the work in process (SAP FI-CO)
    -     Post the reconciliation ledger (SAP FI-CO)
    Receivables and Other Asset Items
    -     Check whether all the billing documents have been posted (SAP LO-SD)
    -     Valuate the foreign currency for the open items (SAP FI), see also Payables
    -     Valuate the foreign currency for the balances (SAP FI + SAP FI-TR)
    Accruals and Deferrals
    -     Post accruals/deferrals (SAP FI-TR + SAP FI)
    Liabilities and Owneru2019s Equity
    Accruals
    Payables
    -     Payroll accounting (SAP HR)
    -     Valuate the foreign currency for the open items (SAP FI), see also Receivables
    -     Valuate the foreign currency for the balances (SAP FI + SAP FI-TR)
    Accruals and Deferrals
    -     Post accruals/deferrals (SAP FI)
    Miscellaneous:
    Additional Tasks (SAP FI)
    -     Post accruals/deferrals (SAP FI)
          Check whether the accrual/deferral documents have to be reversed
    -     Carry out recurring entries and update the batch input session (SAP FI)
    -     Reconcile cost of sales accounting/period accounting/profit center ledger (SAP FI/SAP FI-CO)
    -     Close the posting period (SAP FI)
    -     Run the reconciliation program (SAPF190)
    This program checks the documents and transaction figures in the R/3 System. You can only execute this run if you do not intend to carry out any postings for the period, otherwise reconciliation differences will occur. You can schedule the job to run in the background.
    Printing Reports and Notifications:
    -     Balance sheets and P&L statements
    -     Advance return for tax on sales and purchases
    -     INTRASTAT declarations (SAP LO-MM)
    -     Account balances (SAP FI)
    -     Journals (SAP FI)
    Internal Closing (SAP FI-CO)
    Internal order and project-related tasks:
    -     Transfer postings, surcharges, project interest calculation, settlement
    Product and production-related tasks:
    -     Release a standard cost estimate, perform inventory costing, transfer postings, surcharges
    Variance calculation, results analysis, and settlement
    Cost center-related tasks:
    -     Transfer posting, distribution, assessment, activity allocation, transfer key figures, cost center variance, price calculation
    Results-related tasks
    -     Evaluate actual postings, transfer external data, distribution, assessment, transfer balance sheet items to PCA
    Hope this helps
    regards,
    radhika

  • Archived Service Orders settling in the month end job!!!

    Hi All,
    Service orders were archived using object PM_ORDER and now the month end settlement job has settled some very old service contracts. Why is this happening inspite of running the archive pre process job which ensures that the service orders have been settled before archiving them.
    What can be done to correct them? We have a list of order numbers which have got settled, but not sure how to set this problem right.
    Plus need to prevent this from happening in the next month end settlement.
    This is a critical issue.. so any help will be greatly appreciated!
    Thanks in advance!
    Janani

    Hi ,
    1)  In general , archived Orders won't be avl in the system for process. Check whether those orders are really archived .
    2) While running preprocess for archiving that is deletion process for Orders , it might have closed/deleted the linked objects ( for e.g. Purchase requisitions,reservation, etc ) . System might have settled those orders in the current settlement run
    Regards
    Mani

  • Job scheduled at month end.

    Hello,
    Does anyone know how to set job schedule at each month end?
    as you all know, for each month, end date is different from month to month.
    but we need to execute a job at month end... is there any good method?
    thanks advance for your kind reply and advice.

    Hi,
    It is possible using SM36 , read the solution provided by Thomas (Schedule on 31st )
    Re: How to run a job on last day of every month
    Regards,

  • Schedule manager for month-end procedure

    Hi,
    I have to prepare Business Process Procedure(BPP) & Configuration Guide For "schedule manager for month-end procedure" .Plz help me by giving some inputs to prepare the documents.Its urgent....
    ***points will be assigned.
    Thanks
    Sap Guru
    [email protected]

    Have a look at the 3rd party tool called RunBook  http://www.runbook.nl/

  • Using accrual engine for reversal of month end provisions

    Hello everyone,
    I am working on a requirement to set up accrual engine for automatic reversal of month end provisions (like electricity expense provision at month end which will be reversed on first day of next month).
    I understand that accrual engine is meant for handling accruals and deferrals. But having seen the manual option of FBS1 and F.81, I felt there must be an option in the accrual engine also to handle provisions and their reversal. Also, I saw some comments in this forum that using accrual engine it is possible to automatically reverse the postings.
    So I set up a test scenario in sandbox client with basic configuration for Manual Accruals (accrual type, methods, object category, number ranges, account determination)
    After that I created an accrual object which automatically created an FI document for the provision entry. So far it is fine and working as expected. Now, for reversing the document, I see two options:
    1) Reverse entire accrual run; or
    2) Reverse the accrual object.
    By reversing the accrual object, I was able to post a reversal FI document. I am not sure whether reversal of entire accrual run is right option since SAP help recommends to use this in case wrong key date was used.
    But both options require manual execution for reversal.
    Am I missing some other option? Is there any other option/setting in the accrual engine where it is possible to set up automatic reversal of a month end provision? Only if this is not feasible, I would look at other solutions (like FBS1+F.81 or FBS1+background job for F.81).
    Any inputs/pointers from the learned members will be highly appreciated.
    Thanks in advance,
    Raghu

    Hello Raghu,
    As far as I know, all clients I worked with preferred using "FBS1+background job for F.81" as they found this more flexible (adapt job variant and possible dynamic selection), easy to maintain and well understood by accountants (rather than using accrual type, methods, object category...)
    Tamim

  • Month end and year end closings

    hello guys,
                  Can anyone explain me about the series of steps that we have to do for month-end and year-end closings (FICO).
    Thanks in advance..

    Hi,
    Below are the month end activities
    1. Recurring Documents.
    a) Create Recurring documents
    b) Create Batch Input for Posting Recurring Documents
    c) Run the Batch Input Session
    2. Posting Accruals or Provisions entries at month end
    3. Managing the GR/IR Account-Run the GR/Ir Automatic Clearing
    4. Foreign Currency Open Item Revaluation-Revalue Open Items in AR.AP
    5. Maintain Exchange Rates
    6. Run Balance Sheets –Run Financial Statement Version
    7. Reclassify Payables and Receivables if necessary
    8. Run the Depreciation Calculation
    9. Fiscal Year Change of Asset Accounting if it is year end
    10. Run the Bank Reconciliation
    11. Open Next Accounting Period
    Assign points if useful
    regards
    genie

  • Month End Closing Procedures in Rep Mfg for PP

    Hi..All
    wat are all the steps involved in month end closing procedure in Rep. Mfg for PP module....??
    plz guide me in this regard.
    with regard,
    LN

    Hi,
    From PP side nothing is required.
    The month end activities are the responsibility of CO people.
    Unlike Production Orders, no need of closing of Pl. orders or some thing like that..
    All the month end activities are related to the PCC.
    Hope this clarifies..
    Regards,
    Siva

  • Settlement for month-end closing, individual production or sales order

    Dear SAP Experts,
    Our style is MTO.
    In month-end closing, we follow to make a settlement for production orders:
    1. CO43   -- Actual overhead calculation (collective processing)
    2. KSU5   -- Actual allocations Assessment
    3. KSII     -- Actual Price Calculation
    4. CON2  -- Revaluation at actual prices (collective processing)
    5. KKAO -- WIP calculation (collective processing)
    6. CO88  -- Production order settlement (collective processing)
    Question:
    1. What kind accounts will be effected after above each step?
    2.  does individual production settlement need step 1-4 in above?
        1. KKAX (Work in Process)
        2. KO88 (Settlement)
        Is those enough?
    3. What kind account will be effected after va44 processing?
    Any tips will be welcome.
    Zhou Zhen

    Hi,
    The value flow completely different for each of the MTO Scenario.
    I need to know what kind of MTO scenario you have.
    is it MTO - Valuated Sale Order without Sale Order Controlling
    Is it MTO - Valuated Sale Order with Sale Order Controling
    is it MTO- Non-valuated Sale Order (Sale Order controlling is mandatory)
    based on this the value flows and the transaction that need to be executed will differ.
    The way you explained i presume that it could be any of the first two scenarios.
    in such case, the value flows are as good as make to stock scenario. Only in the third scenario, the value flow completely changes
    For 1. What kind accounts will be effected after above each step?
    all the accounts relevant for Make to Stock will get affected. But the the scenario is MTO - Valuated Sale Order with Sale Order Controling, the the variances from production order is settled to Sale order instead of settling to COPA.
    For 2. does individual production settlement need step 1-4 in above?
    All the steps from 1 to 6 are necessary for any of the above 3 scenarios
    For 3. What kind account will be effected after va44 processing?
    This is for calculating the overheads on the sale order. in this case, the sale order is a controlling object. once this t.code is executed, you can see the oh being calculated on the sale order
    Hope this will give some good isight in to various MTO scenarios
    Best Regards
    Surya

  • Should IT be doing month end close procedures for accounting?

    This was not something that I was made aware of when hired. We have our own accounting, purchasing, sales, CSR, Operations departments. Most of those folks have been here 5-20 years. The one lady who used to do these procedures wouldn't ever teach anyone in accounting to do it. She barley let them run a report without her having to click the button. It is a huge control issue. I have since come in to replace her. She has been with this company for 30+ years and has basically put all this on herself to make her seem important while becoming a huge hurdle to the rest of the business. She basically does all or the purchasing(contract, special pricing, etc) and then for some reason decided to take it upon herself to do accountings job and never taught the correct people how to correctly do their jobs. She also claimed to be the IT person....

    Once a month I am asked to come in on the weekend and close the monthly books for accounting as well as perform all other month end close procedures, reports, billings etc. The company I work for has 4 people in the accounting department and I am the sole IT person. No one in accounting ever comes in to do this procedure. It is just put onto IT once a month. This is so far out of my normal realm and have never been asked to do this at any other company that I have worked for in the past 25 years. I can take a server apart and put it back together blindfolded, I can code in over a dozen languages, etc., but honestly I feel lost when it comes to accounting. My brain just doesn't work that way. If things go wrong I don't even begin to know what to ask as far as what I'm even doing to be able to fix an issue or problem. This just doesn't...
    This topic first appeared in the Spiceworks Community

  • SAP reporting for Month end reports for Pension (TP, USS, LGPS)

    Hi
    I wonder if anyone can help me.  We have just had SAP installed and are experiencing problems with month end reports for Pension reporting.  Can anyone point me in the right direction of the reports?  I have managed to extract some reports but they hold year to date values, not the current month and I am having problems with extracting the monthly contributory salary.
    Many thanks in advance
    Pia

    It's possible to re value asset records but the intent is not for currency adjustments.  That is almost always done in consolidations.
    It's possible to depreciate based on the current exchange rate using 95314 but this is considered a modification.  I've rarely seen it implemented.
    -nathan

  • Pay day for period end date as mid month.

    Hi All,
    plz suggest how to proceed.
    Payroll period starts from 15th of month to 14th of next month and payday is last working day of month having period end day.
    Example
    Period start day  15th April
    Period end day  14th May
    Pay day   last working day or last day of May for period 15th April to 14th May.

    Hi,
    I think what you are meeting with is Monthly End Accrual (MEA) senario.
    Pls check the following URL in PY US solutions:
    http://help.sap.com/saphelp_46C/helpdata/EN/d8/c9e93401bdee06e10000009b38f83b/frameset.htm
    The related node is under :
    Payroll United States (PY-US)->Final Payroll Processing (PY-US-FP)-> Month-End Accruals Concept
    Br,Kee

  • Best practice recommendations for Payables month end inbound jobs

    During Payables month end we hold off inbound invoice files and release them once the new period is open so that invoice get created in new fiscal period. Is this an efficient way to do? Please advise best practice for this business process.
    Thanks

    Hi,
    Can someone provide your valuable suggestions.
    Thanks
    Rohini.

Maybe you are looking for

  • Payload schema validation

    My process involves validating a complex xml document included in the request message, returning either confirmation or explanatory error message to requester. Do the xml libraries in this product allow validation of an xml document vs a schema? Can

  • No network connections?

    This is a weird one. One of our white Intel iMacs has no network connections. It has been fine since new and now it won't connect to a network. If I use a good, known to be working Ethernet cable, it says it is not plugged in when it clearly is, and

  • Can I buy back my iPad?

    I bought my iPad in December and now the new one came out. Can I trade mine in for that one?

  • Video flickering on time line

    When i play the video on premiere pro cs3 timeline the video starts flickering but when i play the original captured file that is playing proper can please help me with this. My sys config is here windows 7 $gig ram i3 processor using adobe cs3

  • Survey not creating inbound activity when submitted

    I am using CRM 5.0 and I have created a survey, generated the URL using BSP and attached it to an email and this has been sent as part of a campaign. The recepient answers the survey and hits save, but there is no activity generated, even though we g