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

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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

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

General procedure for accounts payable

Hi Gurus,
What is the general procedure for accounts payable.(path purchase order,stores dep like that whom to whom it will pass)
what are main differences between accounts payable and accounts receivable?
What are Special Gl items
What is Noted items
Thanks and Regards,
Saritha S

> Hi Gurus,
>
> What is the general procedure for accounts
> payable.(path purchase order,stores dep like that
> whom to whom it will pass)
I dont really understand what u mean by this- Accounts payable is resulting from procurement/ service cycle. U create a purchase order- receive the goods- make the invoice verification. This will result in accounts payable. When u create PO there is no accounting entries passed. When u receive goods it will pass the following entry:
Stock a/c Dr
Gr/IR ac/c Cr
when the invoice is recieved:
GR/IR Dr
Vendor Cr
When u are making payment
Vendor a/c Dr
Bank a/c Cr
This complete the purchase cycle.
> what are main differences between accounts payable
> and accounts receivable?
Accounts receivable is the mirror image of Accounts payable resulting from Sales and Distribution activity> What are Special Gl items
There is nothing like special GL items. It is called Special GL indicators. Whenever u are receiving down payment ( advance payment) they should be shown separately as per the accounting requirement. They are indicated in the AP or AP by way of special GL indicators.> What is Noted items
Noted items are statistical in nature. Like down payment request. When u want to amke down payment u will create down payment request based on that automoatic payment program will create payment.
> Thanks and Regards,
> Saritha S

Getting Error while doing month end provisions using FS00

Hi Guru,
please suggest.
while making month end provisions for salraies by using t code FS00 geeting error that Account XXXXX does not exist in company code level
please help me on reslove this.
Rgds..Suresh

Hello Suresh,
The GL Account does not exist for that Company code. Hence extend the GL Account to the Company Code by using Copy with template in FS00.
Regards
Kalpana

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

Daily doing month end process

Hi
Is that ok to do the month end process ( WIP calcualation / Variance calculation and settlement ) settlement daily. ( Is there any impact to FI )
Pls help

Hi,
Yes. You can do daily settlement on today's posting date for the Production orders which are technically complete or fully delivered for each day. This will not have any impact on Finance. There shall be no extra entries and no data inconsistencies, etc as you fear.
Trust this helps much!
Cheers!

Stored Procedure for Accounts Receivable

Hi. First off, apologies in advance if I have put this question into the wrong topic. Secondly, I first saw SAP 3 weeks ago when I stared my new job and have had no training so please bear with me if some of what I ask doesn't make much sense.
OK, the issue is this. In SAP B1, there is a built in Report called "Customer Receivables Aging" which allows you to see Customer Receivable Accounts by age (e.g 0-30, 31-60, 61-90, 90+) and so on. The problem with the built in report is that it doesn't show all the fields I want - it only shows the Customer Name, balance, and then the aging balances. I want to be able to see things like the customer's contact details, etc. I know this makes no sense because the whole point of the report is to be able to drill down into the different rows, but this report needs to be issued in printed form, hence the need for the extra fields.
Since I can't seen any way from within SAP to change the fields returned by this report, I thought I'd have a stab at writing my own SQL to select out the same data along with the extra fields I wanted. That's when the problems began...try as I might, I cannot get my figures to tally with the SAP Report.
They are almost correct, but not quite. I am sure that I am missing a selection or some other element of the logic that B1 uses to create the built in report.
If you want, I can post the SQL I'm using....I'm not an SQL guru by any means, but I do know my way around it; the biggest problem I have is that I cannot find any documentation as to the 4 letter tables that SAP uses and their relationships except on the most basic level (e.g ORIN is Open Return Invoice [maybe])
Then I thought maybe it might be possible to edit that report section in B1 using the SDK. That would be a better solution as I would not have to 'reinvent the wheel', I can just SELECT an extra field or three to include in the report.
So my question is
->Does anyone have a stored procedure for SQL Server that can replicate correctly the SAP B1 "Customer Receivable Aging", even just the process SAP uses to gather this data would be good.
OR
is it possible to edit this report in SAP to put in the extra fields I want.
Or, am I totally barking up the wrong tree? Thanks in advance, I know this is a long post.

Hi Stephen,
There should be a print layout attached to the on-screen report. This can be altered to show the additional fields you want without resorting to SDK or SQL development.
When you have the Customer Receivables Ageing report open on screen, choose Tools-Print Layout Designer or click on the Print Layout Designer icon on the toolbar. When prompted, choose the layout you wish to edit and you'll be taken to the layout design. In the layout, you can add additional fields and should be able to add most business partner fields. As the report is set to portrait by default, I recommend changing it to landscape so you have lots more space to add the extra fields you want. This report writer is fairly intuitive, if a little basic.
You will need to save this new report design, set it to be the default layout and then when you select to print the Customer Receivables Ageing report (ie Print Preview or Print) you will see the new report.
Hope this helps,
Owen

Cash sales using Pricing procedure for account determination cash settl

Hi all ,
we are customizing for cash sales , we have defined all steps as per "cash account determination" in basic functions.but , system is posting again to customer account, i.e account receivable account.
if we assing "EVV" accounting key in the field "Account key for cash allocation" of billing type ( bv-cash sales),and assigning GL account for account key "EVV" in VKOA, it is working fine.
if we want to post cash account using cash account determination pricing procedure i.e by assining pricing procedure in billing document type, it is not working. Is there any additional cusotmizing has to be done in addition to steps involved in "cash account determination of basic functions?
can any one help on this?
regs,
ramesh

Hi,
thanq for your reply.
we have used same document types mentioned by you. for the same only cash account determination given.
if we remove revenue account determination procedure, system will not post accounting document, system will give message, this billing is not relevant for accounting.
our aim is to post sale account, but instead of accounts receivables, it has to post to cash clearing account.
so, we have assigned revenue account determination procedure ( for sales posting) and cash account determination procedure ( for cash clearing posting).
you may be right, some where i missed some thing, which is not tracked by me. If you can give steps, at least I can check, same thing was customized or not.
regs,
ramesh

Month End Costing Activity

Dear,
We are doing Month End Costing Activity for month june-09 and when we run ck40n with variant LEGJUNE9, job is cancelled and system shows error - "Sytem message 007 from work area SU does not exist".
Regards,
Kaushal

Pls. see the system msg :-
Sytem message 007 from work area SU does not exist
Message no. C!002
Diagnosis
Message 007 from work area SU was not defined.
Procedure
You have to maintain this message in the system. If you have authorization for Customizing, maintain the general program errors. Otherwise, please inform your system administrator.

Incomplete Process order settlement at Month end.

We have issue with order settlement during the month end. We have process orders that run over the week (thus will run over the month-end), with REL, PCNF, and PDLV status at the month end. Production does not want to close/ TECO those orders, as we are not yet done. But FI wants to settle them for the month end.
1) Can FI settle those REL work orders, as mentioned before?
This is what I found:
2) The standard practice is TECO, is to set before closing the order.
3) You can only perform (business) closing for a process order if (CLSD):
The order has status Released (REL), Control recipe created (CRCR) or Control recipe discarded (CRAB), or Technically completed (TECO). To have status Technically completed, the order must have already reached status Released.
The order balance is 0.
There are no more open purchase requisitions, orders, or commitments for it.
All data related to the process order is available and correct (For example, the inspection lots for the order must be completed).
There are no future change records from the confirmation processes
2) So, if statement 1) is correct, is this correct lifeycle:
A.     Settlement at month end for all orders with REL status.
B.      TECO after settlement, and also after DLV and CNF status.
C.      Close after TECO.
Upload in your comments, if there is any link.
Thanks, points will be rewarded.

Hi Abi,
Since the Process order is in uncompleted stage and partially delivered to stock, still it has WIP to be delivered to stock.
Calculate the WIP value & settle the order in Month end.
Prerequisite for WIP calculation is order should has REL status.
In month end for Uncompleted order , calculate WIP value & settle the Order.
General steps for month end practice:
Over head calculation
WIP calculation
Variance calculation - Once the Order receives - DLV /TECO status.
Order settlement.
Order closing
Regards
Pradeep

Error with month end payroll Accruals

We have an error when posting month end payroll accruals for our weekly payroll, though the bi-weekly payroll works fine!
I have checked tables T549S and T51A1 and all of the dates are correct and set as I would expect, however the system did not create a month end accrual for the weekly payroll into the following months posting period. For the biweekly payroll this worked exactly as expected.
We had no issues with this for the last calendar year, however for 2009 we have changed our month end closing dates, though I do not see that this would prevent this from happening. I have checked various things in the IMG and have not been able to resolve this, does anyone have any ideas what might be causing this.
HELP!!!

Michelle :
Month-end accrual determination is based on T51A1, T549S (date type '04' and '05'), and T549Q (field Begda and Endda). Pay extra attention on these dates, as if one is incorrect (e.g. miss-type the year in the future entry with an earlier year) would definitely cause month-end accrual to stop working.
Rgds.

Issues with Month-end closing

All SAP FI Gurus,
What are the typical issues one can run into when doing Month-end closing activities. Any good input would be rewarded with points promptly.
-- Sameer

1. Inter company reconciliation issues.
2. Reconciliation btw FI and CO.
These are few i can think of.
Vishal.

Sales doc items with the status CLSD ARE being selected for month-end

We are working to improve month-end processing time for Sales Orders We use SAPKKA12 to set CLSD status on line items
SAP Help states: be sure that the status CLSD (closed) is set for all sales document items that you do not want to include in the period-end closing process. The sales document items with the status CLSD are then not selected for processing in the period-end closing process. Use report program SAPKKA12 to set the status.
This use to work (in 4.0). I have been on other projects and just brought back to this after several years (now in 5.0). Testing today shows that orders with CLSD status are being selected for month-end process.
Any ideas why this is so? System is selceting over 300,000 orders when well over half of them are set to CLSD. I do get a message that the order is not relevant to processing, but selecting the order and logging the message take time. and the logs are VERY long.
thanks

Does any one else have this issue that Sales documents with status CLSD are selected by RA (KKAK)?
In just one of our jobs, i get this Basic List
Perform actual results analysis      31273
Not relevant                                                 103894
Error                                                        2306
Objects Selected                                    137,473
75% of the orders are CLSD. and the system is still counting them. (we do not out put information messages)
I do understand that the orders are not analyzed, but all documentaion states that CLSD status is not selected, and in our 5.0 system, they are selected. In our 4.0 system, they were not selected.
Does this truely work for anyone in a 5.0 system?
Thanks
Althea

Excise Month End & Year End activities

Dear All,
Just wanted to know what are the steps we need to carry out when doing month end activities.
I found out that J1I5 is not necessarily required to carry out. If we do J2I5 & J2I6, its enough for utilization. Is that what we need to follow ?
Please tell me the steps to be carry out during month end closing ?
Regds,
CB

HI,
utilization is important for excise
J2IUN
make sure you post part2 for part1 document
excise register updation RG1
check following link also
[http://forums.sdn.sap.com/thread.jspa?threadID=852676]
    J2IUN - Monthly utilization
    J2I5 - Extract
    J2I6 - Print Utility
    J2I9 - New Monthly Returns Report
    J2I8 - Avail.of subs credit for Cap Goods
    J2IU - Fortnightly Utilization
    J2IC - Service tax returns
    J2IB - Service tax challan
    J2IER1 - Monthly er1 report
    J2I7 - CIN: SAPScript reporting customizin
    J2IF - Display document flow
    J2IRAP1 - Print RG23A Part1
    J2IRG1 - Register RG1
    J2IRAP2 - Print RG23A Part2
    J2IRPLA - Register PLA
    J2IN - New RT-12 Report
    J2IRCP1 - Register RG23C part1
    J2IR23D - Register RG23D
    J2IRCP2 - Register RG23C Part2
complete subcontracting challne if any pending in current month
Regards
Kailas Ugale
Edited by: kailasugale on Feb 29, 2012 5:20 PM
Edited by: kailasugale on Feb 29, 2012 5:27 PM

Should IT be doing month end close procedures for accounting?

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