Big4Guy

You can find in one of my previous posts on how to close the fiscal year in SAP R/3. Today, I am doing a post on month end closing activities in SAP R/3. Generally, the month end closing activities in SAP R/3 depend a lot on how the data structure is organized in SAP R/3. This would include business areas, profit centers, cost centers, company codes etc. The main steps involved in closing a month are as under:

1. Close or Block the previous month
2. Compare the document and transaction figures
3. Create evaluations and document the posting data
4. Carry out the neccesary taxation activities
5. Reconcile the accounts

Once the above activities are complete, you can run the document journal using the report RFBELJ00. For financial accounts within SAP R/3 the reconciliation reports can also be executed for the general ledger area using the following menu path.

Periodic processing >> Month end reports >> Reconciliation“ or in the Accounts Receivable / Payable areas the path is Periodic processing >> Reporting >> Account balances.

Lastly before archiving the monthly records, user should take care that the audit trail is established.

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