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Year end closing and opening the new financial year

Former Member
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Hi Frnds,

How to close the current financial year and open the new financial year . Wat are the setting to be done for that ???

( if i have closed this financial year and started a new financial year , if at any point to time can i come and open the previous financial year to do some some adjustments ) ??



Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hai Rakesh,

Month End Closing Activities in Finance

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


5. Maintain Exchange Rates

6. Run Balance Sheets u2013Run 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


What are the 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


Run Results Analysis for Sales Order if applicable

Run Settlement of Sales Orders to PA.


Madhu I

Former Member
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Hi Madhu,

Thank u for the details. Can u give me the Tcodes for the procedure given by you.



Answers (0)