1) With TC: F.16 we can carry forward the balance to next year.

2) With TC: OBH2 copy the number ranges to next year 3) Open next year periods by selecting the Posting Period Variant. 4) Then test by posting the transaction in F-02 Check List: In order to arrive at correct profit or loss for the month following checklist can be followed: Month end closing Activities 1) All the expenses including amortization, prepaid expenses, Preliminary expenses and accruals have been booked. 2) Complete Bank Reconciliation 3) Make sure that Sum of Inter company balances is Zero 4) Suspense Accounts should be cleared regularly. 5) Ensure that all documents related to MM & SD have been entered in system. 6) Ensure that all billing documents are released to accounting. 7) Calculate Overheads on all process Orders (CO43) 8) Technically complete all process orders which are fully processed (CORM). 9) Calculate Variance (KKS1) (Relevant only if Standard cost is calculated). 10) Settle all process orders which are technically complete (CO88). 11) Close All settled Process Orders 12) Close MM period (Transaction Code: MMPV). 13) Carry out GR/IR clearing (F.13) transaction 14) Depreciation Run (AFAB) has been carried out for the month 15) Close FI Posting period after the month end closing activity is over.

Year end closing Activities 1) Calculate production work in progress on process orders which are not technically complete. 2) Carry out Assessment cycle for Cost Centers. 3) All month end closing Activities should be carried out. 4) Carry Forward Balances to next year The closing procedure is as follows: 1. Carry forward Vendor & Customer Balances: TC: F.07 2. Assets: i) TC: OB 52 - for assets 2 years can be opened at a time. ii) check which year is closed: TC: OAAQ iii) Close the year 2004: TC: AJAB Note: Unless depreciation for all the months is posted for all the assets you cannot close the year. iv) Open year 2005: TC: AJRW