Big4Guy
Big4GuyWelcome to Big4Guy.com. Big4Guy is an online resource where I will share with you the latest news, insights, knowledge and some experiences as a Big 4 consultant. We will discuss some of the important issues which organisations are facing today in the areas of information security, security and controls in SAP R/3, Oracle Applications, J.D.Edwards, Peoplesoft and various other ERP's. You will also find information on latest complaince regulations like Sarbanes Oxley, Basel II and so on. Big4guy will also attempt to provide valuable resources for individuals interested in examinations the CISA, CISM, CISSP, PMP and various other security certifications considered essential for entry in any Big 4 accounting, auditing and consulting firms. You are invited to post your comments and viewpoints to posts here. I sincerely hope this online journal will be useful to everyone from a budding student to a professional in the accounting, auditing, management and consultancy professions.
|
Post details: Closing SAP General Ledger During Fiscal Year - Simple Steps to Closing Periods in SAP R/3
04/18/06
Closing SAP General Ledger During Fiscal Year - Simple Steps to Closing Periods in SAP R/3
SAP R/3 has built in programs which automate year end closing. At one of our clients who recently implemented SAP R/3 and has gone live since Febraury 2006, the person responsible for closing the general ledger explained to me the various steps involved in closing the general ledger in SAP. Our discussion brought out the minimum number of steps required to close the general ledger and subsidiary ledgers in SAP. Though most of you must be pretty familiar with the process, I am jotting the same below:
1. Close the Posting Periods to prevent further postings of transactions to the accounts.
2. Analyze and evaluate the open items.
3. Analyze and evaluate the balances in foreign currencies
4. Make a list of all incoming and outgoing payments including open items on the basis of due dates.
5. Determine vendors with a debit balance and customers with a credit balance.
6. Post re-valuations and adjustments.
7. Post accurals and deferrals.
8. Finally, print the balance sheet and Profit & Loss account.
Related Posts
Overdeliveries in SAP Inventory Management
Key Milestones in SAP R/3 Implementation
SAP R/3 Security in SOX Era
Concept of Bill of Material BOM in SAP PP
Comments:
No Comments for this post yet...
Categories
Archives
Search
| Mon | Tue | Wed | Thu | Fri | Sat | Sun |
|---|---|---|---|---|---|---|
| << < | > >> | |||||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | |||||
Misc
All content copyright © 2005-2008
Big4Guy.com
Do not reproduce either in part or full without the express permission of the
Webmaster
