Project Accounting Month end Closing Process

Dear Experts,
Any one can help me by explaining Project Accounting Month End Closing Process
Thanks & Regards
Bharath

Bharath
1. Clear all the transactions from Interface tables
2. Import them
3. Run all the Expenditures (PRC, Interface processes) make sure none of the expenditures are not accounted
4. Run Borrow and Lent process if any, Transfer to GL
5. Run Revenue Process, make sure revenue is generated, accounted
6. Review the revenue draft versions created, make sure all revenue draft versions are released
7. INterface revenue to GL, then later Tie back process
8. Run the Invoicing process
9. Make sure to Approve, release all the Invoices in draft version
10. Interface to AR ( ensure that none of the records are in error)
11. Auto Invoice Import in AR
12. Tieback process in PA
13. run Exc: Transaction Exception details by GL Period/ PA period , Exc: Transaction Exception summary by GL Period/ PA Period
14. Make sure the report output on step 13 are blank, if yes try to clear all the transactions and re run the reports
15. Now try closing the period
Thanks
Krishna

Similar Messages

CO Production Order month end closing and settlement question

We are a utility without PP module. We use CO Production Order to accumulate costs of assembling components (parts and labor) into a material number that we receipt into inventory. We have questions about month end closing process and the settlement of these CO Production Orders when receipts are not complete or labor is not completely entered at month end.
Basically we need to know how other non-manufacturing companies handle the settlement process.

Hi,
The Month end Activities are as follows
Clearing the open items of vendor, customer
Clearing the suspense account regularly
All the Expenses Including the prepaid expenses have to be booked..
Intercompany Balances Should be Zero
Depreciation Run.
Recuring Entries.
Park documents to be posted(FBVO)
Accural and referal in any differneces.
GR/IR Clearing Transaction (Tcode-F.13)
Bank Reconciliation(Comparing the Company Books and Bank Statements)
Exchange rate to be updated
Revaluation of foreign currencyopen items(F.05)
Order Settlements.
Distribution Cycle
Assesment Cycle(KSU5)
Transfer the Inventory to Profit center(1KEH)
Match GL and PCA(KE5T)
MM period Close and Open (Tcode MMVP)
FI Period Open(Tcode OB52).
CO period Closing
Year End Process
All the Month end Activities should be Carried Out.
Balance Carried Forwarded to next year(F.16)
PCA Balance Carried Forward(2KES).
Carry forward the Vendor,Customer and Asset Balances
(Unless Dep is posted for all the months the assets can not be Closed)
Copy the No Ranges to new year
Open the Next year period(OB52)
I Hope this is Helpful,
Assign the Points.
Regards,
Padma

Month end closing procedures

hi sap gurus
can anybody give me the list of month end closing procedures with T.Codes
thank you

Hi
Month-End Closing: Checklist
Assets
Fixed Assets
-Execute the depreciation run (SAP FI-AA)
Current Assets
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 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 Owners Equity
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).
assign points if useful

Year End Closing Process

for year end process:
1)I need to Post all these items (i.e; B/S and P/L a/c items) for November 2007 and December 2007. please help me how to post all these items*
2)after posting I need to carryforward AR, AP, GL Balances to January 2008
3)then I need to do year end closing process.
BalanceSheet items:
Liabilities: Capital, Other Loans, Account Payable, Income received in advance, Provision for bad debts,
Outstanding expenses: wages, salaries, rent, taxes
Assets: land n building, machinery, vehicles, furniture,Investment, Bills receivable, accounts receivable,
Prepaid expenses, cash at bank
Profit & Loss items:
Expenses:Salaries,travelling,rent,postage,insurance,interest,advertise,audit & legal fee,repairs, depreciation.
Income: gross profit b/d,interest earned,commission earned,other income
so i need to make all these items fresh postings then i should carry forward it to january, then year end process.please help me how to post all these items then i can proceed further.
thanks in advance. i'll award points..

hi,
SAP FI Month End and Year End Activities
1 - Maintain Activity prices - KP26
2 - Release of Standard Cost Estimate - CK40N
3 - MM period close and open - MMPV
4 - FI period open
5 - Parked documents to be posted - FBV0, MIRO
6 - Reposting of Inter Office CC - KB61
7 - Bank Reconciliation
8 - Update Section Code where missing - J1INPP
9 - Maintain GRIR clearing - F.13
10 - Provision for current month - FB50
11 - Depreciation entry - FB50
12 - Exchange rate - To be Updated
13 - Revaluation of foreign currency open items - F.05
14 - Recognition of Inventory at Bonded warehouse - FB50
15 - Maintain Statistical Key Figures - KB31N/KP46
16 - Variance Calculation of Process Orders - KKS1
17 - Settlement of variances - CO88
18 - Assessment cycles - Aux/WH CC to Main CC - KSU5
19 - Assessment cycles - Functional CC to SBU CC - KSU5
20 - Assessment cycles - SBU CC to COPA - KEU5
21 - Profit Center Reposting - 9KE0
22 - Balance Sheet Adjustment calculation - F.5D
23 - Transfer Profit Center to AR & AP - 1KEK
24 - Transfer Inventory to PCA - 1KEH
if you want more details log on to following link.
http://help.sap.com/erp2005_ehp_02/helpdata/en/eb/1376b443c411d1896f0000e8322d00/content.htm
assign points if its useful

Direct Posting of Sales in FI and month end closing

Dear Experts
I learnt that :
Sales Direct Entries may be posted in FI without posting in SD/MM.
Sales entries must always be posted only through SD process. If this is NOT done (for example freight rate received from third party freight forwarders), then only FI people should know how to reconcile and NOT sd people. Hence I recommend posting your query in FI forum after closing this thread.
Regards,
My question is , during month-end closing how should FI or accounting address the above direct posting issues?
Apparently, such practice is not right.
There is no trace of the sales in SD MM. There is no corresponding billing doc in SD MM but found in FI .
How should this situation be handled as best practice?
I am BI person but found this issue with FI data not reconciled with SD MM.
I am not sure how the month-end closing was done when there is such data. Yes, the problem was found AFTER month was closed and I loaded the data to BI.
best regards
Pascal

Dear Sirs
What is the fastest easiest way to find out which FI direct entries were posted without corresponding Sales / Billing documents created ?
Is there any standard report or reports available in oss?
Currently, our other interfacing systems are having problem with data due to direct entries where there is no corresponding Sales / Billing docs posted. This is causing a lot of time investigating what entries caused the reconciliation problem.
Your help would make my life easier.
Thanks!
Regards
Pascal

Month end closing question from a DBA

Hi all,
I am a DBA not a functional setup person/Business Analyst; so excuse me if my question is not put in business terms.
We have an 11.5.10.2 that operates in US, Canada, Peru, China and Australia. Each of these have their own Set of Books. When the time comes to do month end closing, our finance people tell all incl our US and other countries branches to stop the following transactions on the system while month end closing is going on:
•     Inventory
o     Pick, pack and ship for SO’s and Internal Req’s
o     Receiving of PO’s, Internal Req’s and OSP
o     Subinventory transfers
o     Consignment consumption
o     Inventory adjustments
•     WIP
o     WIP moves and completions
•     Accounts Receivable
o     Cash applications
o     Invoicing of any shipping activity past cutoff o     Manual invoices and credits
•     Accounts Payable
o     Invoice entry and cancellation
o     Manual or batch payment runs
Question that I have is: how can month end closing be done where each of these countries could freeze these activities for their last day of month when last day of month starts obviously earlier in Australia and China compared to US, Canada and Peru? As of now, they all seem to follow the last day of the month procedure as the US. It takes about 7 hours for the whole process to run.
All comments/suggestions welcome.
Thanks,
Edited by: DBA115102 on Mar 4, 2011 7:14 PM

Hello.
SQL> select p.period_name, ae.event_status_code, p.closing_status, h.AE_HEADER_ID
2 from ap_ae_headers_all h, ap_accounting_events_all ae, gl_period_statuses p
3 where ae.accounting_event_id = h.accounting_event_id
4 and h.period_name = p.period_name
5 and p.application_id = 200
6 and p.closing_status = 'C'
7 and ae.event_status_code = 'CREATED';
no rows selected
SQL>
As you can see, i cannot find similar situation. My database has data since 1998. Perhaps we are using different APPS versions, mine is 11.5.10.2
Octavio

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

Month End Closing Procedure.

Hi,
Can some one send me month end closing activites carried out with T Code to my mail id is [email protected]
Points will awarded.
Regards,
Kiran.

Hi
Month end activitites with Transaction code :
FI
AFAB - calculate depreciation
F.05 Foreigh Currency valuation
F.5D calcualate balancesheet adjustment (in case of business area adjusment)
F.5E post balance sheet adjustment
CO.
1. Overhead : CO43 - Collective Processing
2. WIP :KKAO - Calculate
3. Variance:KKS1 - Collective Processing
4. settlement:CO88 - Collective Processing
5. Assessment cycle :KSU5
If the answer is helpful kindly assign points
Thanks & Regards
Mahesh

MONTH END CLOSING ACTIVITY

Dear all
pl, explain few questions
1) What r the month end closing activities done in SAP PP?
2) How do u capture product cost?
3) What is Teco, closing a prod. orderand order settlement?
thanks
Raj

Hi Raj,
1) What r the month end closing activities done in SAP PP?
Wun WIP (KKAX/KKAO) and settlement KO88/CO88. Prior to this carry out TECO for all orders which are technically complete.
2) How do u capture product cost?
Product costing is done using quantity structure generally for production using BoM and routing costs which are basically material and labour costs. The transaction used for this CK11N. The planned cost is captured in the order when you create a prod order. The actual costs are booked to the order when you post the goods issues and perform confirmation. The planned costs for labour are derived based on the activity prices for every activity which are linked to the standard values of the operation. Activity prices are maintained in Co using KP26 transaction.
3) What is Teco, closing a prod. orderand order settlement?
TECO means Technically complete. By setting TECO the order from logistics point is set as complete. The pending reservations are deleted. The prod orders are not considered to deliver goods anymore. So will not appear in your stock/reqmnts. But still you could post goods issues. By Closing the production order you cannot post any document. It is financially closed. The pre-requisite for CLSD status is that the order balance is set to zero. By settling an order it means the order balances if any are brough to zero by posting the balances to relevant GL accounts. To WIP account if still WIP exits or to Material account if it is TECOed or fully delievred.
Hope this helps.
Regards
Ram

How to ? - Month end closing

Dear All,
I need to conduct month end closing. My financial periods are defined as months.
What are the steps required to conduct month end closing in B1 ? Is the period closing tool used for this purpose (i am double minded at the moment if it is so...)
Please advice.
CHeers
Gautam

Hi ,
The concept of period end closing is to avoid the confusion and consistency .
Allow me to explain
Once the period is closed ,
1.Users cannot post into the period.
(That means accountant wil know that the number they printed has not been influenced by another user data entry
that will help them to maintain correct data by month )
2.What is the purpose of closing by month
It will give you an idea how organisation is doing by monthly basis .
Lets say if you donot close period , user can enter the transaction in open period.that means you will never be sure and you have to check everyday if somebody post an transaction in earlier period than running period .
I hope that will help

PM month end closing

Hi Gurus,
I want to learn, is there any account or FI document creation exist during PM month end closing?
If yes, how can I found it?
Thanks...

Hi,
You are looking for Plant Maintenance Year End Activity fiom FI side or any other doubt you are asking.
Please write clearly.
Thanks
Chanra

Month end closing - production order status

Hello,
I am requesting the information, can I carry the month end closing and account for only production orders having the TECO system status rather than considering production orders with the DLV status.
Where in SPRO these parameters are being adjusted .
Thanks and Regards
Artur

Hi,
For settlement, the Order Status Should be TECO and/or DLV.
If it is not TECO also, with DLV status syetm will consider the Order for Settlement.
With BS22 (Maintain System Statuses) you can handle the Situation..
Travel to I0045 - TECO- Double Click on that.
Please refer this link also
[Link|Re: scrap]
Hope this clarifies..
Regards,
R.Brahmankar
Reward if useful.

Month end closing in fixed assets

i am doing first time Month End Closing in Fixed Assets. I need step by step documentation.Thanks
Shanker

Hi,
The steps are.
1. Post depreciation for the last period.
2. Open next Asset fiscal year by running AJRW. This is also called soft close of previous period. Without this no report of assets will work.
3. Reconclie the balances with GL account. Run Tcode ABST2.
4. Check your slef whether all the balances that are carried forward are fcorrect or not.
5. Once you have finally done the above steps, use T code AJAB to close the last fiscal year.
Please note that at any given point of time you can open only 2 asset fiscal years only.
These are th esteps that are needed for asset closing.
reward points if useful.
Sarma

Could anyone suggest me for Month end closing!!!!!!!!!!

What does closing subledger and other ledgers mean in month end closing. I am new , I would appreciate if anyone helps with monthend closing .I will assign you points.Thanks in advance.

Hi,
Go to T.code OB52 there u can see account types as D,K,S,A.
D-Customers
K-vendors
A-Assets
S-general ledger
D,K,A are the subledgers and give the from period and to period so that they will be open for those periods.The above range will be closed.

Month End Closing - Schedule Manager

Hello,
Does anybody know what are the other tools offered by SAP for month end closing?
I am trying to use Schedule Manager (SCMA) but its not letting me define dependencies on "Notes" task. I mean I am trying to add "Notes" task in Schedule Manager for the specific month end tasks which will be performed outside of SAP and user will just checkmark in SCMA.
Any help will be appreciated.
Thanks.

Dear All,
I am still facing below issue.
While creating flow definitions , when I try to attach program I face below issue.
e.g. I want to attach program RK_PEP_WL_SEL_SAL which is in the application CO-PC-OBJ-SALESORD but when I created flow definition I gave application as Controlling , so how to add program in the flow definition which has different application ?
If I try to attach application CO-PC-OBJ-SALESORD in flow definition itself then I cannot add programs in Controlling application .
Kindly help how to add different programs from different application.
Thanks in advance.
Abhishek.

Project Accounting Month end Closing Process

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