Month End Closing Activities in Finance and Controlling – SAP FICO

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Month end closing activities in Finance

  1. Recurring Documents.
    • Create Recurring documents
    • Create Batch Input for Posting Recurring Documents
    • Run the Batch Input Session
  2. Posting Accruals or Provisions entries at month end
  3. Managing the GR/IR Account-Run the GR/Ir Automatic Clearing
  4. Foreign Currency Open Item Revaluation-Revalue Open Items in AR.AP
  5. Maintain Exchange Rates
  6. Run Balance Sheets –Run Financial Statement Version
  7. Reclassify Payable and Receivables if necessary
  8. Run the Depreciation Calculation
  9. Fiscal Year Change of Asset Accounting if it is year end
  10. Run the Bank Reconciliation
  11. Open Next Accounting Period

Month end closing activities in Controlling

The following are the period end closing activities in Controlling:

  1. Repost CO Documents that was incorrectly posted
  2. Run Distribution or Assessment Cycles
  3. Run the Overhead Calculation in Product Costing
  4. Run the WIP Calculation in Product Costing
  5. Run the Variance Calculation in Product Costing
  6. Run the Settlement Calculation in Product Costing which will post all the
  7. WIP and variance to Finance and PA.
  8. Calculate FI Data for Transfer to Profit Center
  9. Transfer Balance Sheet Items like Receivables, Payables, Assets, and Stock
  10. Run Results Analysis for Sales Order if applicable
  11. Run Settlement of Sales Orders to PA.

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