what are the year end and month end activities carried in FI?

https://answers.sap.com/questions/6861168/what-are-the-year-end-and-month-end-
activities-car.html
Dec 23, 2009 at 04:48 PM | 2.5k Views
Hi all,
I am new to FI, what is the steps or the activites/process to be carried out during the month
end as well as the year end activities for FI.
Can anyone explain me about it and does sap provide any standard documentation on year end
/ month end activities.

Here you go:

1. Month-end closing in Financial Accounting
Update Exchange Rates
Gaps in Document Number Assignment
Invoice Numbers Allocated Twice
Open and Close Posting Periods
Enter Recurring Entries
Post Recurring Entries
Run Batch Input Session
Automatic Clearing of GR/ IR Account special process
Analyze GR/ IR Clearing Accounts
Automatic Clearing of GR/ IR Account
Post Adjustment Entries
Foreign Currency Revaluation
Post Tax Payable
Record of sales and Use Tax Report
Comparison Documents/ Transaction Figures
Close Previous Accounting Period
Balance Interest Calculation
Display Document Journal
Financial Statement
2. Year-end closing in Financial Accounting

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Create Factory Calendar for New Year
Carry Forward AP/ AR Balances
Carry Forward GL Balances
Re-grouping Receivables/ Payables
Balance Confirmation Receivable
Balance Confirmation Payable
Final Close and Release Financial Reporting
Close Previous Accounting Period
Display Document Journal.
Print 1099 MISC forms (Only for USA)
Hope this helps
Hi Pooja,
Please find the details below
Month end closing Activities
1. All the expenses including amortization, prepaid expenses, Preliminary expenses and accruals
have been booked.
2. Complete Bank Reconciliation (T. Code: FF67)
3. Make sure that Sum of Inter Company balances is Zero
4. Suspense Accounts should be cleared regularly.
5. Ensure that all documents related to MM & SD have been entered in system. (T.Code:F-22 &
F-43) 6. Ensure that all billing documents are released to accounting.
7. Calculate Overheads on all process Orders (CO43)
8. Technically complete all process orders which are fully processed (CORM).
9. Calculate Variance (KKS1)à (Relevant only if Standard cost is calculated).
10. Settle all process orders which are technically complete (CO88).
11. Close All settled Process Orders
12. Close MM period (Transaction Code: MMPV).
13. Carry out GR/IR clearing (F.13) transaction
14. Depreciation Run (AFAB) has been carried out for the month
15. Close FI Posting period after the month end closing activity is over (T.Code:OB52) Year end
Closing Activities:

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1. Calculate production work in progress on process orders which are not technically complete.
(CO88).
2. Carry out Assessment cycle for Cost Centers (T. Code: KSUB)
3. All month end closing Activities should be carried out.
4. Carry Forward Balances to next year With TC: F.16 we can carry forward the balance to next
year. With TC: OBH2 copy the number ranges to next year Open next year periods by selecting
the Posting Period Variant. then test by posting the transaction in F-02)
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

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25 - Assessment Cycle - Dummy PC to SBU PC - 3KE5
26 - Check for u201CDelivery made, not Invoicedu201D - VF03
27 - Match GL and PCA - KE5T
28 - Match PCA and PA
29 - Top Down Distribution in COPA - KE28
30 - Reclassification of GL balances
31 - Balance Carry forward (Year End Only) - F.16
32 - PCA Balance Carry forward (Year End Only) - 2KES
33 - Transfer to FI - 1KE8
Regards,
JA
Hi
Year End Activities include
1. Open New Fiscal Year or Fiscal Year Change for Assets -->AJRW
2. Close the Asset Fiscal Year -->AJAB
3. Balance Carry Forward for General Ledger -->F.16/FAGLGCTR
4. Balance Carry Forward for Vendors/Customers -->F.07
5. Copy Number Ranges for Next Fiscal Year -->OBH2
Month/Period End Activities include
Open New Period in FI
Ensuring all the Parked Documents/Hold Documents to be Completed
Close period in CO & MM
Close Period in FI
Regards
Hi pooja,
Check the below link for more details Year end activities and month end activities.
http://wiki.sdn.sap.com/wiki/display/ERPFI/MonthEndandYearEndClosingOperations
http://www.sap-img.com/financial/check-list-for-fi-year-end-closing.htm
Hope now clear.
Regards,
Kishore K

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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

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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 - new year
62 Set Document number ranges AP/AR - new year
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

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 72 Load Balances, Budget Data for Cost centers, sales
73 Update Retained Earning Account , balance carry fwd

SAP FICO TCodes for Month End and Year

End activities
Posted bySadique HussainFebruary 17, 2016Posted inSAP FI, SAP TCODESTags:month end, year end

6 Votes

CLOSING ACTIVITIES

1. Execute Report for Inter Company Activity & Journal Entries

2. Open posting period for next yr (T.Code: OB52)
3. Run Business Area’s Assignment report. (T.Code: F.50)
4. Review list of recurring journal entries (T.Code: FBD3)
5. Execute Recurring Entries for A/R, A/P, G/L (T. Code: F.14)
6. Process Parked A/R, A/P, G/L accounting documents (T.Code: FBV0)
7. Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire (T.Code:
ABUMN)
8. Run Depreciation in Test Run and post (T.Code: AFAB)
9. Verify Display Log for Depreciation Test Run (T.Code: AFBP)
10. Capitalize AUC Assets if needed (T.Code: AIAB, AIBU)
11. Enter Payroll Data to SAP (T.Code: CAT2)
12. Verify Depreciation Balances with GL balances (T.Code: ABST2)
13. Post Depreciation (T.Code: AFAB)

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14. Execute Asset History Report, and retire assets if needed (T.Code: S_ALR_87011963,
ABAVN)
15. Adjust specific depreciation areas if necessary (T.Code: ABCO)
16. Reconcile AM sub ledger with GL (T.Code: ABST2)
17. Check Bank Data (T.Code: S_P99_41000212)
18. Review AR Open Items (T.Code: FBL5N)
19. Review AP Open Items (FBL1N)
20. Execute Pending Invoices(T.Code: MRBP)
21. Clear Open Item for GRIR, freight (T.Code: F.13)
22. Reconciliation of Financial Documents and transactional figures (F.03)
23. Open new CO Posting Period: (T.Code: OKP1)
24. Compare current (cost estimates) with last current price (Moving Avg) (T.Code:
OKBH)
25. Update current cost price to material master price field (T.Code: CK11N, CK24)
26. Process Freight charges, Match SD freight to actual (T.Code: V-31)
27. Review Internal Order Postings(T.Code: OKSA)
28. Settle All Orders (T.Code: KO88)
29. Verify All Post Goods Issue have been Invoiced (Billing Due List) (T.Code: VF04)
30. Review SD Billing Doc from prior month that have not yet been released to
accounting (T.Code: F.2D)
31. Reconciliation of MM movements in Transit Intra-SAP to Non SAP
32. Reconcile PI Inventory with SAP (T.Code: MI07)
33. Perform Manual Adjustment if needed (T.Code: F-02, FB50)
34. Verify balance of the GR/IR account (T.Code: MB5S)
35. Post Accruals and Deferrals (T.Code: FBS1)
36. Clearing of Cancelled Documents (T.Code: F-03, F-32, F-44)
37. Check Profitability Segment Adjustment (T.Code: KISR)
38. Aging Report-Reconcile GL balances with sub ledger balances AP (T.code: FBL1N,
FBL5N, FBL3N)
39. Check the check run numbers (T.Code: FCH1, FCHI)
40. Bank reconciliation Data (T.Code: FF67 & FEBA)
41. Enter Tax Journal Entry (T.Code: FB41)
42. Reconcile GL balances with sub ledger balances AR/MM/AP (T.Code: F.03)
43. Display Balance Sheet Adjustments (T.Code: F.5F)
44. Post Balance Sheet Adjustments (T.Code: F.5E)
45. Post Foreign Currency Valuation (foreign exchange) (T.Code: F.05)
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 (T.Code: GGB0)

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49. Check COGI–for both month end and year end
50. Doubtful receivables (T.Code: F104)
51. Verify In-transit Inventory
52. Reconcile PA to G/L (T.Code: KE5U)
53. Post Cost Center Assessments and Distributions (T.Code: KSU5 & KSV5)
54. Run CO-FI Reconciliation to balance (T.Code: KALC)
55. Run BW reports P&L and Balance Sheet
56. Maintain CO yr variant (T.Code: KCRQ)
57. Fiscal Yr Balance carry forward AP/AR/AM (T.Code: F.07,
58. Fiscal Yr Balance carry forward CO (T.Code: CXS1)
59. Fiscal Yr balance carry forward FI (T.Code: F.16)
60. Fiscal Yr balance carry forward PCA (T.Code: 2KES)
61. Set Document number ranges – FI – new year (T.Code: OBH2, OBA7)
62. Set Document number ranges AP/AR – new year (OBA7)
63. Generate Financial statement Reports (T.Code:OB58) OR (T.Code: FSE2)
64. Change Fiscal Year For Assets (T.Code: AJRW)
65. Year end Closing– Asset Accounting–final for year end (T.Code: AJAB)
66. Close CO Posting Period : (T.Code: OKP1)
67. Close Prior A/R Posting Period (T.Code: OB52)
68. Close Prior A/P Posting Period (T.Code: OB52)
69. Close Prior MM Posting Period (T.Code: OMSY)
70. Reverse accruals and deferrals for the new month (T.Code: F.81)
71. Reconciliation of Financial Documents from old fiscal year and new fiscal year
(T.Code: FNSL)
72. Load Balances, Budget Data for Cost centers, sales
73. Update Retained Earning Account , balance carry fwd (T.Code: F.16)

Month end closing Activities

1. All the expenses including amortization, prepaid expenses, Preliminary expenses and
accruals have been booked.
2. Complete Bank Reconciliation (T.Code: FF67)
3. Make sure that Sum of Inter company balances is Zero
4. Suspense Accounts should be cleared regularly.

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5. Ensure that all documents related to MM & SD have been entered in system.
(T.Code:F-22 & F-43)
6. Ensure that all billing documents are released to accounting.
7. Calculate Overheads on all process Orders (CO43)
8. Technically complete all process orders which are fully processed (CORM).
9. Calculate Variance (KKS1)à (Relevant only if Standard cost is calculated).
10. Settle all process orders which are technically complete (CO88).
11. Close All settled Process Orders
12. Close MM period (Transaction Code: MMPV).
13. Carry out GR/IR clearing (F.13) transaction
14. Depreciation Run (AFAB) has been carried out for the month
15. Close FI Posting period after the month end closing activity is over (T.Code:OB52)

Year end closing Activities:

1. Calculate production work in progress on process orders which are not technically
complete.
2. Carry out Assessment cycle for Cost Centers.(T.Code: KSUB)
3. All month end closing Activities should be carried out.
4. Carry Forward Balances to next year

(With TC: F.16 we can carry forward the balance to next year. With TC: OBH2 copy
the number ranges to next year Open next year periods by selecting the Posting
Period Variant. then test by posting the transaction in F-02)

https://sadiquehussain26.wordpress.com/2016/02/17/sap-fico-tcodes-for-month-end-and-
year-end-activities/

https://www.tutorialspoint.com/sap_fico/sap_fi_month_end_closing.htm

https://erproof.com/fi/free-training/sap-month-end-closing-process/

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