The Year End is an important and busy time for accounting departments everywhere: complete bookkeeping, file tax returns, start planning for the new financial year and so much more… As it approaches sooner than one might think, the Expertum SAP FICO team is delighted to advise you and remind you of some important tasks.
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Here are some essential actions for your end of year to-do list:
- Close current and open next fiscal year in Asset Accounting: Transaction AJAB - year-end closing and transaction AJRW - fiscal year change
- Balance carry forward for accounts receivable and accounts payable: transaction F.07
- Balance carry forward for General ledger accounts: transaction F.16 (classic GL) or transaction FAGLGVTR (new GL – remember to perform this for all ledgers)
- Copy year dependent number ranges: transaction OBH2
- Commitment carry forward for cost centres: transaction KSCF
- Close current and open next period in Materials management: transaction MMPV. This can be automated via report RMMMPERI.
- In transaction MMPV you can execute period closing up to the end of the current fiscal year. Note that SAP only allows posting in the open period and open period – 1. If, for example, you want to close your periods up to 03/2013, you are not allowed to post values in 01/2013. Therefore, if you still want to make postings in period t, you should execute period closing only for a maximum of t+1 periods.)
- Close and open posting periods in financial accounting: transaction OB52. Note that this includes asset accounting.
- Maintain period lock in controlling: transaction OKP1.
- Controlling fiscal year update: transaction OKEQ. Important for actuals, planning and budgeting versions
- Split customer with credit balance & vendors with debit balance via F101
Do contact us if you are struggling with (some of) these activities. We will be pleased to provide guidance and support. EXPERTUM FI-CO TEAM