what is month end activities pls explain briefly
Answers were Sorted based on User's Feedback
Answer / amalendu dinda
1.Recurring Documents
A)Creat Recurring Documents. B)Creat Batch input for
posting recurring Documents. C) Run batch input session
2. Posting Accruals or Provission entries at month end
3. Managing the GR/IR Account-Run the GR/IR Automatic
Clearing.
4.Foreign Currency open item Revaluation -Revalue open item
in AR&AP
5. Maintain Exchange rate.
6. Run Balanc sheets - Run Financial statement version
7 Reclassify Payables & Receivables if necessary
8.Run the Depreciation Calculation.
9. Fiscal yera change of Asset Accounting if it is year end.
10. Run the Bank Reconciliation
11. Open Next Accounting Period.
Is This Answer Correct ? | 21 Yes | 1 No |
MONTH END ACTIVITIES FOR FI:
1. Recurring Documents.
a) Create Recurring documents
b) Create Batch Input for Posting Recurring Documents
c) Run the Batch Input Session
2. Posting Accruals or Provisions entries at month end
3. Managing the GR/IR Account-Run the GR/Ir Automatic
Clearing
4. Foreign Currency Open Item Revaluation-Revalue Open
Items in
AR.AP
5. Maintain Exchange Rates
6. Run Balance Sheets –Run Financial Statement Version
7. Reclassify Payables and Receivables if necessary
8. Run the Depreciation Calculation
9. Fiscal Year Change of Asset Accounting if it is year end
10. Run the Bank Reconciliation
11. Open Next Accounting Period
PERIOD END CLOSING ACTIVITIES IN CONTROLLING :
The following are the period end closing activities in
Controlling:
Repost CO Documents that was incorrectly posted
Run Distribution or Assessment Cycles
Run the Overhead Calculation in Product Costing
Run the WIP Calculation in Product Costing
Run the Variance Calculation in Product Costing
Run the Settlement Calculation in Product Costing which
will post all the
WIP and variance to Finance and PA.
Calculate FI Data for Transfer to Profit Center
Transfer Balance Sheet Items like Recievables, Payables,
Assets and
Stock
Run Results Analysis for Sales Order if applicable
Run Settlement of Sales Orders to PA.
Is This Answer Correct ? | 4 Yes | 0 No |
Answer / kiran
WE SHOULD DO THESE ACTIVITIES AT MONTH END .
1.IF ANY RECURRING ENTRIES THEN WE SHOULD POST POSTINGS.
2.WE SHOULD POST MONTH END ENTRIES LIKE (SALARIES ,RENT
ETC....PROVISIONS).
3.CLOSING THE PRESENT PERIOD AND OPENING NEW PERIOD.
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / pasha shaikh
Some business transactions are repeated regularly every period or quarter such as rent and insurance .SAP gives the Recurring Entry option to make this entry one time and run it every period and have the same financial effect.
Recurring Documents are used when date and amount are fixed. Ex: Prepaid Expenses / Hire Purchase Installments.
Is This Answer Correct ? | 0 Yes | 0 No |
We have created 9 COA for 9 co. codes and for the 10th Co. Code we have created the country COA and we have to assign all co. codes to one group Co. How can we configure this?
While posting outgoing payment using T.Code F-07 getting in Error "1111(Company code)missing the Table T043S"
What are terms of payments and where are they stored?
I have a customer and I have a special agreement with him that he always come to my premise and takes delivery and making by cash. In this case instead of debiting customer you have to debit the cash account. Is this possible ? If so how and why and If not how and why ?
how to enter cheque received from sundry debtors (with configuration and T-code). is it possible it must be update bank statement?
How can i configure in SAP 2 divergent reconciliation accounts for the same vendor? They want to change the reconciliation account in the posting when they are doing compensation.
What is meant by payment advice, in terms of automatic payment program? Is the payment advice sent to the vendor or the bank. If any of guys can give me brief description as to what is the signifance of payemnt advice in APP, It would be of great help
in SAP, i want to know how we can split an incoming payment from a customer. if the payment is lets say 500rs.i want to allocate a 10% to my own company and distribute the 90% to the cash account(G/L) of a partner (forwhom we are collecting payments). is it possible in ECC6.0? Need help
How Business Process are in sap
what is the work of OKB9 and why we need okb9 setting? Plz, give in detials.
what z Deprecation area?
How will you differ Client and Company. Is both are same??.