YASREF COMPANY LIMITED

FINANCIAL ACCOUNTING
MONTH END CLOSING
S.NO DESCRIPTION T.CODE APPLICABLE
1 Close FI Posting period after the month end closing activity is OB52 Yes
over
2 All Parked documents to be posted MIR7,FBV0 , MIRO yes

3 All the expenses including amortization, prepaid expenses, yes

Preliminary expenses and accruals have been booked.
4 Complete Bank Reconciliation (Manual Bank ) FF67 Yes

5 Electronic Bank Reconciliation FF_5 Yes

6 Make sure that Sum of Inter company balances is Zero NA

7 Suspense Accounts should be cleared regularly Yes

8 Ensure that all documents related to MM & SD have been F-22 & F-43 Yes
entered in system.
9 Ensure that all billing documents are released to accounting Yes

10 Close MM period MMPV Yes

To check current month status MMRV Yes

11 Carry out GR/IR clearing transaction F.13 Yes

12 Depreciation Run has been carried out for the month AFAB Yes

14 Revaluation of foreign currency open items F.05 Yes

CONTROLLING
S.NO DESCRIPTION T.CODE APPLICABLE
1 Calculate Overheads on all process Orders (CO43) CO43 NA

2 Technically complete all process orders which are fully CORM NA

processed (CORM).
3 Calculate Variance (KKS1)à (Relevant only if Standard cost is KKS1 NA
calculated).
4 Settle all process orders which are technically complete. CO88 NA

5 Close All settled Process Orders NA

Main Bank A/c Dr /To Incoming Clearing A/c Cr

Out going Clearing A/c Dr/ To Main Bank A/c Cr

 YASREF COMP
FINANCIAL ACCOUNTING
YEAR END
S.NO DESCRIPTION
1

Balance Carry forward (Year End Only)

GL Balance Carry forward

3

AR / AP Balance Carry forwards

4
Fixed Asset Balances Carry forwards/ Fiscal Year Closing

5
Open a new Fiscal year

6
Change fiscal year in Open and Close Posting Period

Documents type Number Range settings

8
Opening balance posting

Opening Balances Posting in GL

 YASREF COMPANY LIMITED
YEAR END CLOSING
PATH
Path: Sap easy access → Accounting → Financial Accounting →
General ledger → Periodic processing → Closing → Carry
forwards → Balance Carry forwards (new) (FAGLGVTR)
Path: Sap easy access → Accounting → Financial Accounting →
Account Receivables → Periodic processing → Closing → Carry
forwards → Balance Carry forwards
Path: Sap easy access → Accounting → Financial Accounting →
Fixed Assets → Periodic processing → Year end Closing →
Execute (AJAB)
Path: Sap easy access → Accounting → Financial Accounting →
Fixed Assets → Periodic processing → Fiscal year change
(AJRW)
Path: Spro → Img → Financial Accounting new → Financial
Accounting global settings → Documents → Documents
number range → Documents in entry view → Copy to fiscal
year
Path: Sap easy access → Accounting → Financial Accounting
→ General ledger → Posting → Reference documents →
Account assignments model (FKMT)
T.CODE
F.16 Ledger =0L, Company Code= 1000,Car
Press F8 for Execute, Click on Balance
balances, Come back, Click on Retaine
Deactivate Test Run, Press F8 for Exec
F.16 Ledger =0L, Company Code= 1000,Car
Press F8 for Execute, Click on Balance
balances, Come back, Click on Retaine
Deactivate Test Run, Press F8 for Exec
F.03 Company Code = 1000,Carry forward
Customer=*(for All) Activate Select Ve
F8 for Execute, Come back, Deactivate
AJAB Company Code= 1000, Fiscal Year to b
Execution, Click on Yes, Come Back, D
Company Code= 1000, Fiscal Year to b
Execution, Click on Yes, Come Back, D
OB52 Enter T.Code : OB52 in Command field
Period Variants ;Change the Fiscal Yea
OBH2 Click on (Tick Mark); Company Code:
To Fiscal Year - 2012 ; Target Fiscal Yea
Step 1: Create all GL Accounts or if po
Work bench; Step 2: Opening Balance
Assignment Model - 1000 Rent( Give
Currency:USD or SAR. Chart of Accoun
F-02 GO TO F-02; ENTER HEADER DATA Fie
Code, Posting Date, Period,Currency,
Posting; Cick on Account Assignment
 PROCEDURE
Company Code= 1000,Carry forward to fiscal Year = 2012, Activate Test Run,
Execute, Click on Balance sheet Account Tab, Check the Assets and Liabilites
me back, Click on Retained Earning tab, Check the balances, come back twise,
est Run, Press F8 for Execute.
Company Code= 1000,Carry forward to fiscal Year = 2012, Activate Test Run,
Execute, Click on Balance sheet Account Tab, Check the Assets and Liabilites
me back, Click on Retained Earning tab, Check the balances, come back twise,
est Run, Press F8 for Execute.
de = 1000,Carry forward to fiscal year = 2012, Activate Select Customer,

for All) Activate Select Vendors , Vendors = * (For All) Activate Test Run, Press

e, Come back, Deactivate Test Run and Press F8 For Execution.

de= 1000, Fiscal Year to be Closed : 2012, Activate Test Run, Press F8 For

ick on Yes, Come Back, Deactivate the test run and again Press F8 for Execute.
de= 1000, Fiscal Year to be Opened : 2013, Activate Test Run, Press F8 For

ick on Yes, Come Back, Deactivate the test run and again Press F8 for Execute.
: OB52 in Command field, for open and close posting periods,Select posting

nts ;Change the Fiscal Year in to new year; Press enter Key and Save.
Mark); Company Code: 1000; Number Range Number:* Source Fiscal Year:

- 2012 ; Target Fiscal Year: 2013; Press F8 for Execute. Come back
e all GL Accounts or if possible dump all master records by using the LSMW
Step 2: Opening Balance template preparation : for this use menu path: Acct
Model - 1000 Rent( Give your Account Assignment) Click on Create field (F5)
D or SAR. Chart of Accounts : 1000; Click on Line Item fileds. Enter the Details
ENTER HEADER DATA Fields i.e. Document Date, Document Type, Company

g Date, Period,Currency, Document Header Text: like : Opening Balance

on Account Assignment Model - Select 1000 Rent. Click on Tick Mark Save it.
*SAP FI Check list for year end closing*
1 Execute Report for InterCompany Activity & Journal Entries
2 Open posting period for next yr
3 Run Business Area's Assignment report.
4 Review list of recurring journal entries
5 Execute Recurring Entries for A/R, A/P, G/L
6 Process Parked A/R, A/P, G/L accounting documents
7 Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire
8 Run Depreciation in Test Run and post
9 Verify Display Log for Depreciation Test Run
10 Capitalize AUC Assets if needed
11 Enter Payroll Data to SAP
12 Verify Depreciation Balances with GL balances
13 Post Depreciation
14 Execute Asset History Report, and retire assets if needed
15 Adjust specific depreciation areas if necessary
16 Reconcile AM subledger with GL
17 Check Bank Data
18 Review AR Open Items
19 Review AP Open Items
20 Execute Pending Invoices
21 Clear Open Item for GRIR, freight
22 Reconciliation of Financial Documents and transactional figures
23 Open new CO Posting Period
24 Compare current (cost estimates) with last current price (Moving Avg)
25 Update current cost price to material master price field.
26 Process Freight charges, Match SD freight to actual
27 Review Internal Order Postings
28 Settle All Orders
29 Verify All Post Goods Issue have been Invoiced (Billing Due List)
30 Review SD Billng Doc from prior mth that have not yet been released to accounting
31 Reconciliation of MM movements in Transit Intra-SAP to NonSAP
32 Reconcile PI Inventory with SAP
33 Perform Manual Adjustment if needed
34 Verify balance of the GR/IR account
35 Post Accruals and Deferrals
36 Clearing of Cancelled Documents
37 Check Profitability Segment Adjustment
38 Aging Report-Reconcile GL balances with subledger balances AP
39 Check the check run numbers
40 Bank reconciliation Data
41 Enter Tax Journal Entry
42 Reconcile GL balances with subledger balances AR/MM/AP
43 Display Balance Sheet Adjustments
44 Post Balance Sheet Adjustments
45 Post Foreign Currency Valuation (foreign exchange)
46 Check generic cost centers for posting with wrong accounts
47 Correct wrong postings on generic cost centers
48 Check Validation dates for Cost Centers, Cost Elements, CO area
49 Check COGI--for both month end and year end
50 Doubtful receiviables
51 Verify In-transist Inventory
52 Reconcile PA to G/L
53 Post Cost Centre Assessments and Distributions
54 Run CO-FI Reconciliation to balance
55 Run BW reports P&L and Balance Sheet
56 Maintain CO yr variant
57 Fiscal Yr Balance carryforward AP/AR/AM
58 Fiscal Yr Balance carryforward CO
59 Fiscal Yr balance carryforward FI
60 Fiscal Yr balance carryforward PCA
61 Set Document number ranges - FI - new year
62 Set Document number ranges AP/AR - new year
63 Generate Financial statement Reports
64 Change Fiscal Year For Assets
65 Year end Closing-- Asset Accounting--final for year end
66 Close CO Posting Period
67 Close Prior A/R Posting Period
68 Close Prior A/P Posting Period
69 Close Prior MM Posting Period
70 Reverse accruals and deferrals for the new month
71 Reconciliation of Financial Documents from old fiscal year and new fiscal year
72 Load Balances, Budget Data for Cost centers, sales
73 Update Retained Earning Account , balance carry fwd