What are the year end activities in SAP FICO?
The entire process for year-end closing comprises activities in the following work centers:
- Fixed Assets.
- Inventory Valuation.
- General Ledger.
- Payment Management.
- Tax Management.
- Cost and Revenue.
What are the month end and year end activities in SAP FICO?
SAP Month End Closing Process
- Enter accruals and deferrals.
- Process recurring entries.
- Clear customer, vendor and G/L open items and GR/IR accounts.
- Record foreign currency revaluation.
- Post tax payables.
- Run asset depreciation.
- Display document journal and financial statements.
What are year end activities?
As far as I know, Year End Activities = Month End Activities + Carry-forward of Balances/Open Items of Balance Sheet GLs, Vendors & Customers.
What are the year end activities in SAP MM?
1) Check for open POs which are pending for GR (which are supposed to be posted in current year). 2) Check for open Physical inventory docs. 3) Check for Subcontracting that are still pending (which are supposed to be posted in current year). 4) Make sure all goods movements are completed in current year.
What are month end closing activities in SAP Fico?
Month End Closing Activities in SAP FICO Closing activities in SAP FICO involves all the month-end and year-end activities for finance and controlling modules. Such as carrying forward the closing balance of ledgers, receivables and payables. Further includes the execution of depreciation run for fixed assets and many more.
What are the year end activities in SAP?
Depreciation Run (AFAB) has been carried out for the month 15. Close FI Posting period after the month end closing activity is over (T.Code:OB52) 1. Calculate production work in progress on process orders which are not technically complete. 2. Carry out Assessment cycle for Cost Centers. (T.Code: KSUB)
What do you need to know about SAP Fico?
It is the software that stores data, and also computes them and retrieves the result based on the current marketing scenario. SAP FICO prevents data lost and also does the verification and reporting of data. 2) What are the other modules to which ‘Financial Accounting’ is integrated?
How to set Fico tcodes for month end and year end?
Set Document number ranges – FI – new year (T.Code: OBH2, OBA7) Set Document number ranges AP/AR – new year (OBA7) Generate Financial statement Reports (T.Code:OB58) OR (T.Code: FSE2) Change Fiscal Year For Assets (T.Code: AJRW) Year end Closing– Asset Accounting–final for year end (T.Code: AJAB) Close CO Posting Period : (T.Code: OKP1)