Month-end Close Processing

Comments Expected Results Transaction Timing Responsibility Batch Job Program Variant
Load Exchange Rates for Month-
end revaluation & following month's
transactions
Exchange Rates loaded OC41 / OB08 Processes on the
weekend of the new
month
COE No LSMW Load N/A
Open New FI Period New FI Period open for
postings - Close
Subledgers as Month-
end processes are
completed for prior
period
OB52 Sunday prior to new
period transactions.
Keep all trx codes open
for both periods so all
production order
postings can be
processed
Finance Manager No N/A N/A
Open New CO Period New CO Period open for
postings
OKP1 Sunday prior to new
period transactions.
Validate only. Controlled
by Shared Services,
Watford.
No N/A N/A
Roll MM period Material period balances
converted
MMPV Sunday prior to new
period transactions
Controller No N/A N/A
Validate MM Period Material period balances
converted
MMRV Final Close Controller No N/A N/A
Release cost run if there is any New cost is ready to use CK40N TO BE REVIEWED
Complete all goods receipts and
goods issues by the last day of the
month
Check open POs,
reservations due for
production orders, etc. at
plants
ME2L, MB25 Continuous during the
month
Operations. Finance to
send a close reminder
Mondey of the Close
week to ensure all
processes are
completed
No N/A N/A
Execute GR/IR Balance Report Check GR/IR balances MB5S No N/A N/A
Review blocked invoices & verify
status is correct
Unblock invoices for
payment
MRBR
Review/verify block status on
invoices
Post parked invoices FBL1N
Review/verify block status on GL
entries
Review for parked GL
entries
FBL3N
Employees must enter all time in
closing month
Hours entered for month CAT2 Through-out the month All direct employees, as
applicalbe
No N/A N/A
CATS Labor Reports Locate missing and
unapproved time entries-
report should be clear
prior to close
ZFIN_MTR;
Y_T11_58000002
CATS_DA
Week prior to the month-
end and on Mopnday of
the closing week.
Finance to send a
reminder to all direct
employees on Monday
to complete booking
time (hours)
No N/A N/A
Approve all time entered Approve time CATS_APPR_LITE Monday Noon of closing
week
Cost Center Managers No N/A N/A
Cost all approved labor hours
(Employee labor)
Labor costed CATA Weekly Batch Job:
Tuesday Nights Monthly
Batch Job: Monday
Noon/Night & Tuesday
Night
Controller to check job
logs
Yes RCATSTAL CATSCO_FR00
Page 1 of 4
Month-end Close Processing
Comments Expected Results Transaction Timing Responsibility Batch Job Program Variant
Cost all Sub-contract labor (CATS-
MMSRV)
Transfer sub contract
labor to purchasing
service entry sheet
created
CATM Monday 1 pm No N/A N/A
Cost all Sub-contract labor (CATS-
MMSRV)
Cost sub contract labor
(GR Accounting doc
created)
ML81N Monday 1 pm No N/A N/A
Run billing due list Invoices created
wherever necessary
VF04 Daily by 3 pm - Finance
to verify weekly on
Friday's that VF04 is
clear
Sales and Distribution.
Accounting manager to
verify billings are correct.
No N/A N/A
Release billing documents to
Accounting
Invoices posted to G/L.
Validate that there are
no errors
VFX3 Friday 4 pm Accounting manager No N/A N/A
Reverse Accrual postings in the
new period
Create reversing entries
in the new period for the
accruals recorded in last
period
F.81 Can only be done on
FBS1 transactions
based on the date-
Monthly. Validate job
logs.
Accounting manager Yes SAPF080R FR00_REV_ACCR
Post Accruals Book manual accruals or
deferrals, if any
FBS1 As required Finance No N/A N/A
Goods Movement Errors Correct Goods
Movement Errors
COGI Continuous during the
month - Finance to
verify weekly on Friday's
that COGI is clear
Operations. Finance to
validate using
transaction COOIS
No N/A N/A
All Labour Errors COOIS and Goods Mvmt COGI errors must be fixed prior to running the process steps below
Calculate overhead on Production
Orders - CA35
Material & Labor
Overhead calculated
CO43 Weekly Finance Yes RKAZCO43 FR00_PROD_OH
Calculate Production Order WIP
CA35
Production Order WIP
calculated
KKAO Weekly Finance Yes SAPKKA07 FR00_WIP
Calculate Production Order
Variance CA35
Production Order
Variance calculated
KKS1 TO BE REVIEWED Finance No N/A N/A
Execute Production Order
Settlements CA35
Production Order WIP
and MTO costs settled to
B/S and/or WBS
elements
CO88 Weekly Finance Yes RKO7CO88 FR00_SETT
Validate that all Production orders
are zero
Validate that all
Production orders are
zero
KOB1 Weekly Finance No N/A N/A
Calculate overhead on Internal
Orders
Material and Labor
Overhead calculated
KGI4 Weekly Finance Yes RKAZKGI4 FR00_ORDERS
Settlement Rules for Internal orders Validate all orders have
settlement rules
KOSRLIST_OR Weekly Finance No N/A N/A
Execute Internal Order Settlements Internal Order costs
settled to the G/L
KO8G Weekly Finance Yes RKO7KO8G FR00_ORDERS
Page 2 of 4
Month-end Close Processing
Comments Expected Results Transaction Timing Responsibility Batch Job Program Variant
Validate that all Internal orders are
zero
Validate that all Internal
orders are zero
KOB1 Weekly Finance No N/A N/A
Calculate overhead on Service
Orders - CA35
Overhead calculated
and posted
KGI4 Weekly Finance Yes RKAZKGI4 FR00_SM_ORDERS
Execute Service Order Settlements
- CA35
Service Order costs
settled to the G/L (B/S or
COS)
KO8G Weekly Finance Yes RKO7KO8G FR00_SM_ORDERS
Validate that all Service orders are
zero
Validate that all Service
orders are zero
KOB1 Weekly Finance No N/A N/A
Calculate overhead on
Project/WBS elements- CA35
Overhead calculated
and posted
CJ44 - Individual
CJ45 - Collective
Weekly Finance Yes RKAZCJ45 FR_PROJECTS
Create Settlement Rules for WBS
elements - CA35
Settlement Rules
created
CJB1 Weekly Finance No N/A N/A
Set EAC Percentage production
Fixed Price Contracts
COS Percentage
entered/updated by
WBS element
ZEAC Weekly Finance No N/A N/A
Maintain Cost & Revenue plan for
POC projects
Cost and Revenue plan
updated
CJR2 Although not POC will be
relevant
Finance No N/A N/A
Run Results Analysis on Projects
(WBS elements) - CA35
Calculation for the
appropriate accounting
rule applied to projects.
KKAJ (KKA2 for
individual
processing)
Weekly Finance Yes SAPKKA00BG FR_PROJECTS_RA
Run Project Results Report View Recognized
Revenue, Costs, WIP for
Projects
ZRPS1 Weekly Finance No N/A N/A
Execute Project (WBS element)
settlements - CA35
Project WIP, Revenue,
COS etc posted to the
G/L
CJ8G Weekly Finance Yes RKO7CJ8G FR_PROJECTS_RA
Execute Project (WBS element)
settlements - Non billable projects
Costs for all non-billable
projects settled
CJ8G Weekly Finance Yes RKO7CJ8G FR_PROJECTS_ST
Execute Asset Depreciation Depreciation posted to
appropriate Cost
Centers
AFABN/SM35/AFBP Monthly (Can only be run
once a month)
Finance Yes RAPOST2000 FR00_DEP
Clear GR/IR clearing account Items cleared as
appropriate
MR11 Finance No N/A N/A
Post Recurring entries in new
period
Book recurring entries, if
necessary
F.14 / SM35 Can only be done on the
transactions date set
Finance No N/A N/A
Create correcting journal entries View corrections FB50 As required Finance No N/A N/A
Execute CO Allocations Costs Allocated, if any KSU5 After all processes are
complete
Controller No N/A N/A
Execute PCA Assessments Costs Allocated, if any 3KE5 Not Required Not Required No N/A N/A
Load Bank statements Bank statement loaded
and reconciled
FF_5. FF_6 As required Finance No N/A N/A
Page 3 of 4
Month-end Close Processing
Comments Expected Results Transaction Timing Responsibility Batch Job Program Variant
Foreign Currency Open Item
Revaluation
Revalue open items FAGL_FC_VAL After AR & AP ME
transactions are
complete
Finance Manager No N/A N/A
Execute Cost Center Reports S_ALR_87013611 MEC Reporting Controller No N/A N/A
Execute Project Reports CJI3;
S_ALR_87013533
MEC Reporting Controller No N/A N/A
Execute Internal Order Reports KOB1 MEC Reporting Controller No N/A N/A
Execute P&L Statement Check P&L Statement S_ALR_87012284 MEC Reporting Finance Manager No N/A N/A
Execute Trial Balance Check Trial Balance S_ALR_87012277 MEC Reporting Finance Manager No N/A N/A
Execute Cash Flow Statement S_ALR_87012271 MEC Reporting Finance Manager No N/A N/A
Close previous FI period Close previous FI period OB52 Soon after all MEC
processes are complete
Finance Manager No N/A N/A
Close Previous CO period Close previous CO
period
OKP1 Soon after all MEC
processes are complete
Controller No N/A N/A
Page 4 of 4