Reg month end operations

Question

Hi,
   can anyone let me the operations to be performed at the end of every month as far as FI is CONSIDERED.
Regards.
venkat.

Answer 1

Hi
Find the follwoing checklist for month end and year end process
1     Execute Report for InterCompany Activity & Journal Entries
2     Open posting period for next yr
3     Run Business Area's Assignment report.
4     Review list of recurring journal entries
5     Execute Recurring Entries for A/R, A/P, G/L
6     Process Parked A/R, A/P, G/L accounting documents
7     Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire
8     Run Depreciation in Test Run and post
9     Verify Display Log for Depreciation Test Run
10     Capitalize AUC Assets if needed
11     Enter Payroll Data to SAP
12     Verify Depreciation Balances  with GL balances
13     Post Depreciation
14     Execute Asset History Report, and retire assets if needed
15     Adjust specific depreciation areas if necessary
16     Reconcile AM subledger with GL
17     Check Bank Data
18     Review AR Open Items
19     Review AP Open Items
20     Execute Pending Invoices
21     Clear Open Item for GRIR, freight
22     Reconciliation of Financial Documents and transactional figures
23     Open new CO Posting Period
24     Compare current  (cost estimates) with last current price (Moving Avg)
25     Update current cost price to material master price field.
26     Process Freight charges, Match SD freight to actual
27     Review Internal Order Postings
28     Settle All Orders
29     Verify All Post Goods Issue have been Invoiced (Billing Due List)
30     Review SD Billng Doc from prior mth that have not yet been released to accounting
31     Reconciliation of MM movements in Transit Intra-SAP to NonSAP
32     Reconcile PI Inventory with SAP
33     Perform Manual Adjustment if needed
34     Verify balance of the GR/IR account
35     Post Accruals and Deferrals
36     Clearing of Cancelled Documents
37     Check Profitability Segment Adjustment
38     Aging Report-Reconcile GL balances with  subledger  balances AP
39     Check the check run numbers
40     Bank reconciliation Data
41     Enter Tax Journal Entry
42     Reconcile GL balances with  subledger  balances AR/MM/AP
43     Display Balance Sheet Adjustments
44     Post Balance Sheet Adjustments
45     Post Foreign Currency Valuation (foreign exchange)
46     Check generic cost centers for posting with wrong accounts
47     Correct wrong postings on generic cost centers
48     Check Validation dates for Cost Centers, Cost Elements, CO area
49     Check COGI--for both month end and year end
50     Doubtful receiviables
51     Verify In-transist Inventory
52     Reconcile PA to G/L
53     Post Cost Centre Assessments and Distributions
54     Run CO-FI Reconciliation to balance
55     Run BW reports P&L and Balance Sheet
56     Maintain CO yr variant
57     Fiscal Yr Balance carryforward AP/AR/AM
58     Fiscal Yr Balance carryforward CO
59     Fiscal Yr balance carryforward FI
60     Fiscal Yr balance carryforward PCA
61     Set Document number ranges - FI
62     Set Document number ranges  AP/AR
63     Generate Financial statement Reports
64     Change Fiscal Year For Assets
65     Year end Closing-- Asset Accounting--final for year end
66     Close CO Posting Period
67     Close Prior A/R Posting Period
68     Close Prior A/P Posting Period
69     Close Prior MM Posting Period
70     Reverse accruals and deferrals for the new month
71     Reconciliation of Financial Documents from old fiscal year and new fiscal year
72     Load Balances, Budget Data for Cost centers, sales
73     Update Retained Earning Account , balance carry fwd
Cheers
Muralidahar