SAP Month-End Checklist

Month-End Checklist

Assets

Fixed Assets

-       Execute the depreciation run and update the batch input session (SAP FI-AA)

Current Assets

Inventories

-       GR/IR clearing account – clarify any differences and correct them if necessary (SAP LO-MM)

-       Clear the GR/IR clearing account (SAP FI)

Prerequisite: Accounts have already been maintained by MM

-       Period closing program (SAP LO-MM)

-       Settle the work in process (SAP FI-CO)

-       Post the reconciliation ledger (SAP FI-CO)

Receivables and Other Asset Items

-       Check whether all the billing documents have been posted (SAP LO-SD)

-       Valuate the foreign currency for the open items (SAP FI), see also Payables

-       Valuate the foreign currency for the balances (SAP FI + SAP FI-TR)

Accruals and Deferrals

-       Post accruals/deferrals (SAP FI-TR + SAP FI)

 

Liabilities and Owner’s Equity

Accruals

Payables

-       Payroll accounting (SAP HR)

-       Valuate the foreign currency for the open items (SAP FI), see also Receivables

-       Valuate the foreign currency for the balances (SAP FI + SAP FI-TR)

Accruals and Deferrals

-       Post accruals/deferrals (SAP FI)

Miscellaneous:

Additional Tasks (SAP FI)

-       Post accruals/deferrals (SAP FI)

      Check whether the accrual/deferral documents have to be reversed

-       Carry out recurring entries and update the batch input session (SAP FI)

-       Reconcile cost of sales accounting/period accounting/profit center ledger (SAP FI/SAP FI-CO)

-       Close the posting period (SAP FI)

-       Run the reconciliation program (SAPF190)

This program checks the documents and transaction figures in the R/3 System. You can only execute this run if you do not intend to carry out any postings for the period, otherwise reconciliation differences will occur. You can schedule the job to run in the background.

Printing Reports and Notifications:

-       Balance sheets and P&L statements

-       Advance return for tax on sales and purchases

-       INTRASTAT declarations (SAP LO-MM)

-       Account balances (SAP FI)

-       Journals (SAP FI)

Internal Closing (SAP FI-CO)

Internal order and project-related tasks:

-       Transfer postings, surcharges, project interest calculation, settlement

Product and production-related tasks:

-       Release a standard cost estimate, perform inventory costing, transfer postings, surcharges

Variance calculation, results analysis, and settlement

Cost center-related tasks:

-       Transfer posting, distribution, assessment, activity allocation, transfer key figures, cost center variance, price calculation

Results-related tasks

-       Evaluate actual postings, transfer external data, distribution, assessment, transfer balance sheet items to PCA


Source: help.sap.com/bp_bblibrary/500/Documentation/J03_GL_BPP_01_EN_MY.doc