Month end closing Activities 1.

All the expenses including amortization, prepaid expenses, Preliminary expenses and accruals have been booked. 2. Complete Bank Reconciliation (T.Code: FF67) 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. (T.Code:F-22 & F-43) 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 (T.Code:OB52)

Year end closing Activities: 1. Calculate production work in progress on process orders which are not technically complete. (CO88). 2. Carry out Assessment cycle for Cost Centers.(T.Code: KSUB) 3. All month end closing Activities should be carried out. 4. Carry Forward Balances to next year With TC: F.16 we can carry forward the balance to next year. With TC: OBH2 copy the number ranges to next year Open next year periods by selecting the Posting Period Variant. then test by posting the transaction in F-02)

SAP FI Month End and Year End Activities 1 - Maintain Activity prices - KP26 2 - Release of Standard Cost Estimate - CK40N 3 - MM period close and open - MMPV 4 - FI period open 5 - Parked documents to be posted - FBV0, MIRO

6 - Reposting of Inter Office CC - KB61 7 - Bank Reconciliation 8 - Update Section Code where missing - J1INPP 9 - Maintain GRIR clearing - F.13 10 - Provision for current month - FB50 11 - Depreciation entry - FB50 12 - Exchange rate - To be Updated 13 - Revaluation of foreign currency open items - F.05 14 - Recognition of Inventory at Bonded warehouse - FB50 15 - Maintain Statistical Key Figures - KB31N/KP46 16 - Variance Calculation of Process Orders - KKS1 17 - Settlement of variances - CO88 18 - Assessment cycles - Aux/WH CC to Main CC - KSU5 19 - Assessment cycles - Functional CC to SBU CC - KSU5 20 - Assessment cycles - SBU CC to COPA - KEU5 21 - Profit Center Reposting - 9KE0 22 - Balance Sheet Adjustment calculation - F.5D 23 - Transfer Profit Center to AR & AP - 1KEK 24 - Transfer Inventory to PCA - 1KEH 25 - Assessment Cycle - Dummy PC to SBU PC - 3KE5 26 - Check for Delivery made, not Invoiced - VF03 27 - Match GL and PCA - KE5T 28 - Match PCA and PA 29 - Top Down Distribution in COPA - KE28 30 - Reclassification of GL balances 31 - Balance Carry forward (Year End Only) - F.16 32 - PCA Balance Carry forward (Year End Only) - 2KES 33 - Transfer to FI - 1KE8

Year end closing in sequence:1) MM - close material ledger 2) SD- check all SD documents release to Accounting (VFX3) 3) FI-AA closing 3(1) AFAB - Depn posting run 3(ii) AJRW - fiscal year change 3(iii) AJAB - Year-end close for fixed assets. 4) FI closing 4(iii) AR & AP open items foreign currency valuations - F.05 4(iv) AR & AP - carry forward balances - F.07 4(v) Print customer statement of accounts - F.27 4(vi) Valuate GL acct balances in foreign currency - F.05 4(vii) Enter Accrual/Deferral document - FBS1 4(viii) Run tax reports 4(ix) Run P&L & B/S 5) CO closing 5(i) run settlement of Project Systems 5(ii) run settlement of AuC to Fixed Assets 5(iii) run settlement of variances 5(iv) run settlement of service orders 5(v) carry forward commitments 5(vi) run assessment cycles / distribution cycles or manual cost allocations

5(vii) run reconciliation ledger - KALC 5(viii) Period lock in Controlling 6) Open and close periods in FI Enter translation/exchange rates Carry forward balances in FI