Check List for Period End Activities

In order to arrive at correct profit or loss for the month following checklist can be followed: • Month end closing Activities:

1) All the expenses including amortization, prepaid expenses, Preliminary expenses and accruals have been booked. 2) Complete Bank Reconciliation 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. 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.

3) All month end closing Activities should be carried out. 2) Carry out Assessment cycle for Cost Centers. 4) Carry Forward Balances to next year (With TC: F.for assets 2 years can be openned at a time.16 we can carry forward the balance to next year.07 6) Assets: i) TC: OB 52 . With TC: OBH2 copy the number ranges to next year Open next year periods by selecting the Posting Period Variant. ii) check which year is closed: TC: OAAQ iii) Close the year 2004: TC: AJAB Note: Unless depreciation for all the months is posted for all the assets you cannot close the year. iv) Open year 2005: TC: AJRW . then test by posting the transaction in F-02) 5) Carry forward Vendor & Customer Balances: TC: F.Check List for Period End Activities • Year end closing Activities: 1) Calculate production work in progress on process orders which are not technically complete.

Assessment cycles .CO88 18 .Aux/WH CC to Main CC .KB31N/KP46 16 .Check List for Period End Activities Few Transaction Codes for Period end activities: 1 .Provision for current month .MMPV 4 .Bank Reconciliation 8 .MM period close and open .Variance Calculation of Process Orders .F.FBV0.Release of Standard Cost Estimate .KB61 7 .Recognition of Inventory at Bonded warehouse .Revaluation of foreign currency open items .Parked documents to be posted .Reposting of Inter Office CC .FB50 11 .FI period open 5 .Assessment cycles .CK40N 3 .05 14 .KKS1 17 .Depreciation entry . MIRO 6 .KSU5 19 .KP26 2 .FB50 15 .Maintain Activity prices .Settlement of variances .Assessment cycles .Update Section Code where missing .13 10 .To be Updated 13 .Functional CC to SBU CC .Maintain GRIR clearing .FB50 12 .KEU5 .J1INPP 9 .SBU CC to COPA .Exchange rate .Maintain Statistical Key Figures .KSU5 20 .F.

KE28 30 .KE5T 28 .F.1KEH 25 .1KE8 .Check for "Delivery made.Balance Sheet Adjustment calculation .Profit Center Reposting .Balance Carry forward (Year End Only) .Reclassification of GL balances 31 .PCA Balance Carry forward (Year End Only) .Dummy PC to SBU PC . not Invoiced" .VF03 27 .Transfer Profit Center to AR & AP .9KE0 22 .Transfer Inventory to PCA .F.5D 23 .Match GL and PCA .Check List for Period End Activities 21 .16 32 .1KEK 24 .Transfer to FI .3KE5 26 .Assessment Cycle .Match PCA and PA 29 .Top Down Distribution in COPA .2KES 33 .

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