Month End Closing Activities in Finance and Controlling – SAP FICO
Month end closing activities in Finance
- Recurring Documents.
- Create Recurring documents
- Create Batch Input for Posting Recurring Documents
- Run the Batch Input Session
- Posting Accruals or Provisions entries at month end
- Managing the GR/IR Account-Run the GR/Ir Automatic Clearing
- Foreign Currency Open Item Revaluation-Revalue Open Items in AR.AP
- Maintain Exchange Rates
- Run Balance Sheets â€“Run Financial Statement Version
- Reclassify Payable and Receivables if necessary
- Run the Depreciation Calculation
- Fiscal Year Change of Asset Accounting if it is year end
- Run the Bank Reconciliation
- Open Next Accounting Period
Month end closing activities in Controlling
The following are the period end closing activities in Controlling:
- Repost CO Documents that was incorrectly posted
- Run Distribution or Assessment Cycles
- Run the Overhead Calculation in Product Costing
- Run the WIP Calculation in Product Costing
- Run the Variance Calculation in Product Costing
- Run the Settlement Calculation in Product Costing which will post all the
- WIP and variance to Finance and PA.
- Calculate FI Data for Transfer to Profit Center
- Transfer Balance Sheet Items like Receivables, Payables, Assets, and Stock
- Run Results Analysis for Sales Order if applicable
- Run Settlement of Sales Orders to PA.
2 thoughts on “Month End Closing Activities in Finance and Controlling – SAP FICO”
could you please explain point number (3)" Managing the GR/IR Account-Run the GR/Ir Automatic Clearing " in details?