Purpose:
Closing operations are periodic tasks and can be subdivided in SAP FI as follows:
- Day-end closing
- Month-end closing
- Year-end closing
1. (Time-based) accruals/deferrals of expenses and revenues
2. Creating the balance sheets and P&L statements
3. Documenting the posting data
Audience:
(Who need to understand the closing procedure and are
involved in the closing process)
AR/AP Data Controllers, CO Budget Analysts, Cost Analysts,
Plant Analysts, Inventory Analysts, Asset Mgt. Analysts, GL Accountants,
GL Master Data Controllers, GL Supervisors, PCA Analysts, and other Corporate
Accounting employees who need to understand the month end close process.
Prerequisites:
To carry out the closing operations in G/L accounting, you first need to carry out the closing operations in the subledger accounting areas you are using. These include:
- Accounts receivable and accounts payable accounting
- Inventory accounting
- Asset accounting
- Payroll accounting (get posting data)
Transaction F-02 (Payroll Expenses Input)
Transaction KKAO (Calculate Work in Process: Collective Processing)
Transaction KKS1 (Variance Calculation: Collective Processing)
Transaction CO88 (PO Settlement: Collective Processing)
Transaction KO8G (Settlement of Internal Orders)
Transaction F.50 (Profit and Loss Adjustment)
Transaction F.5D (Calculate Balance Sheet Adjustment)
Transaction F.5E (Post Balance Sheet Adjustment)
Transaction F.05 (Foreign Currency Valuation)
Transaction KSV5 (Allocations Distribution)
Transaction S_ALR_87012284 (Scrap Reclassification)
Transaction ZCOPC (Balance Sheet Valuation)
Transaction MB51 (Report of Monthly Scrap)
Transaction KB51 (MAT & QUA Maintenance)
Transaction KEU2 (Cycle Maintenance)
Transaction KB51 (MAT & QUA Maintenance)
Transaction KEU2 (Cycle Maintenance)
Transaction KSA3 (Social Benefits Actual Accrual)
Transaction KO8G (Actual Settlement of Internal Orders)
Transaction AFAR (Recalculate Depreciation)
Transaction RAANALYZE01 (Determine Locked CC and IO)
Transaction AFAB (Posting Depreciation)
Transaction ASKB (Periodic Asset Posting)
Transaction KEU5 (Run Assessment Cycles)
Transaction KSS1 (Variances Calculation for Cost Centers)
Transaction KSS2 (Actual Fix/Variable Cost Splitting)
Transaction KALC (Reconciliation FI-CO)
Transaction KE30 (Export of P&L Report)
- Payroll Revision of Material Adjustment
- Process Maintenance Expenses
- Allocation Scrap and Material Valuations
- Maintenance Sales & Cost of Sales
- Personnel Expenses
- Fixed Assets
- CO-PA Assessment Variances
- Calculation P & L
- Report Balance
- Statement P&L
- Forecast
