Check List for FI Year End Closing

1 Execute Report for InterCompany Activity & Journal Entries
2 Open posting period for next yr
3 Run Business Area's Assignment report.
4 Review list of recurring journal entries
5 Execute Recurring Entries for A/R, A/P, G/L
6 Process Parked A/R, A/P, G/L accounting documents
7 Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire
8 Run Depreciation in Test Run and post
9 Verify Display Log for Depreciation Test Run
10 Capitalize AUC Assets if needed
11 Enter Payroll Data to SAP
12 Verify Depreciation Balances with GL balances
13 Post Depreciation
14 Execute Asset History Report, and retire assets if needed
15 Adjust specific depreciation areas if necessary
16 Reconcile AM subledger with GL
17 Check Bank Data
18 Review AR Open Items
19 Review AP Open Items
20 Execute Pending Invoices
21 Clear Open Item for GRIR, freight
22 Reconciliation of Financial Documents and transactional figures
23 Open new CO Posting Period
24 Compare current (cost estimates) with last current price (Moving Avg)
25 Update current cost price to material master price field.
26 Process Freight charges, Match SD freight to actual
27 Review Internal Order Postings
28 Settle All Orders
29 Verify All Post Goods Issue have been Invoiced (Billing Due List)
30 Review SD Billng Doc from prior mth that have not yet been released to accounting
31 Reconciliation of MM movements in Transit Intra-SAP to NonSAP
32 Reconcile PI Inventory with SAP
33 Perform Manual Adjustment if needed
34 Verify balance of the GR/IR account
35 Post Accruals and Deferrals
36 Clearing of Cancelled Documents
37 Check Profitability Segment Adjustment
38 Aging Report-Reconcile GL balances with subledger balances AP
39 Check the check run numbers
40 Bank reconciliation Data
41 Enter Tax Journal Entry
42 Reconcile GL balances with subledger balances AR/MM/AP
43 Display Balance Sheet Adjustments
44 Post Balance Sheet Adjustments
45 Post Foreign Currency Valuation (foreign exchange)
46 Check generic cost centers for posting with wrong accounts
47 Correct wrong postings on generic cost centers
48 Check Validation dates for Cost Centers, Cost Elements, CO area
49 Check COGI--for both month end and year end
50 Doubtful receiviables
51 Verify In-transist Inventory
52 Reconcile PA to G/L
53 Post Cost Centre Assessments and Distributions
54 Run CO-FI Reconciliation to balance
55 Run BW reports P&L and Balance Sheet
56 Maintain CO yr variant
57 Fiscal Yr Balance carryforward AP/AR/AM
58 Fiscal Yr Balance carryforward CO
59 Fiscal Yr balance carryforward FI
60 Fiscal Yr balance carryforward PCA
61 Set Document number ranges - FI - new year
62 Set Document number ranges AP/AR - new year
63 Generate Financial statement Reports
64 Change Fiscal Year For Assets
65 Year end Closing-- Asset Accounting--final for year end
66 Close CO Posting Period
67 Close Prior A/R Posting Period
68 Close Prior A/P Posting Period
69 Close Prior MM Posting Period
70 Reverse accruals and deferrals for the new month
71 Reconciliation of Financial Documents from old fiscal year and new fiscal year
72 Load Balances, Budget Data for Cost centers, sales
73 Update Retained Earning Account , balance carry fwd

AP: F110 Automatic Payment Run : Tables

Payment Run relevant tables: 

FEDIWF1 FI EDI: Person with signing authority
OPN_J1 Japanese DME Foreign Payment Accounting Data (Open FI)
PNBK Prenotification: New bank data from master records
PNHD Prenotification: Files created in ACH format
PYONUMKR Auxiliary structure for lock object EPYONUMKR
PYORDH Payment order header data
PYORDP Payment order item data
REGUA Change of payment proposals: user and time
REGUH Settlement data from payment program
REGUHH REGUH version before the 'n'th change
REGUHM Payment Data for Cross-Payment Run Payment Medium
REGUHO REGUH version before the 'n'th change
REGUP Processed items from payment program
REGUP_CORE Processed Items from Payment Program
REGUPO Line item status before the 'n'th change
REGUPW W/tax information per w/tax type/FI line item in pmnt run
REGUS Acounts blocked by payment proposal
REGUS_SEPA SEPA Mandate Lock: Applications To Be Retrieved
REGUT TemSe - Administration Data
REGUTA Paying Company Codes for DME Files
REGUV Control records for the payment program
REGUVM Payment Data for Cross-Payment Run Payment Medium
SMFIAP Spec. FI-SL Data in Monitor (See Schedman_specific_fisl)
T004F Field status definition groups
T012E EDI-compatible house banks and payment methods
T042 Parameters for payment transactions
T042A Bank selection for payment program
T042C Technical Settings For The Payment Program
T042D Available amounts for payment program
T042FSL Last additional selections used
T042G Groups of company codes ( payment program )
T042I Account determination for payment program
T042J Bank charges determination
T042JB Customizing table for Japan Bank Mergers
T042JB1 Customizing table for Japan Bank/Branch Mergers
T042K Accounts for bank charges
T042L Bank transaction code names
T042M User Numbers At The Bank
T042N Bank transaction codes
T042OFI Events for MT100 and other DME Formats
T042OFIT Events for MT100 and other DME Formats
T042P Bank selection by postal code
T042R Name of account holder (ref.specifications on bk.details
T042S Charges/expenses for automatic pmnt transactions
T042U Block Entries for Debit Customers/Credit Vendors
T042V Value date for automatic payments
T045T User ID for bank transactions
T077D Customer account groups
T077K Vendor account groups
T078D Trans.-dependent screen selection for cust.master
T078K Transaction-dependent screen selection for vendor master
T079D Company code-dependent screen sel.for cust.master
T079K Company code-dependent screen sel.for vend.master
T079M Vendor master data screen selection (purch.org.)
TBACN Bank EDI file version numbers
TBSL Posting Key
TFAGS Definition of FI clearing rules
TFAGT Texts on FI clearing rules
TZGR Grouping rules for automatic payments
TZGRT Name of grouping rules
TBTCO Job Status Overview Table
TFBUF Table for FI Data Puffers
TRDIR Generated Table for View TRDIR 
VARID Variant directory
VARIT Variant Texts

Asset - Legacy Migration

Asset Migration should be handled carefully, as real time integration does not exist with FI module. Generally, assets are classified into 2 -

Assets acquired/capitalized in the previous year
Assets acquired/capitalized in the current year
The latter is generally uploaded at item / transaction level, while the former at balance level.
AUC / CIP should be uploaded at transaction level. Else, settlement will not be possible
Pre-requisites:

Asset master data configurations should have been completed like asset classes, depreciation area, depreciation key etc
Take over date (Transfer date) should be configured. 
The date is of importance from depreciation perspective.
It is NOT the actual data entry date. It represents the value date.
There are 2 types of take over date - End of last closed FY or during FY (Mid year take over)
Implementation:
Asset migration t-codes like AS91/92/93/94 and AS81/82/83/84 will be used extensively
There are two programs that can be utilized to automatically process legacy assets. They are RAALTD01 and RAALTD11.
RAALTD01: Uses dialog programming and hence will be slow, but predictable
RAALTD11: Users direct input and hence will be faster. Most of the implementation uses this option
BDC recording of AS91 t-code: This is done for current year acquisition and AuC Assets. The transaction level data are entered by clicking the 'Transactions' button in the application tool bar

Mandatory Fields:
All mandatory fields as defined in the screen layout rule - Asset class, cost center, description, Plant, quantity, depreciation key, useful life etc
Acquisition amount, Accumulated depreciation value till PY, Accumulated depreciation value in the CY till take over date for all depreciation areas.

From FI View
The migration programs will create Asset data only and no FI documents are generated.
FI postings are to be manually created using t-code OASV or ABF1
Former will be used normally, while latter will be used for uploading asset values in multiple currencies
The asset GL account properties should be changed to 'Non-reconciliation' account ('Set/Reset reconciliation account' option in IMG screen). The same should be changed after migration
GL accounts for Acquisition Production Cost( APC), accumulated depreciation GL accounts will be posted manually. The difference (Net Book Value) gets posted to the conversion account created for assets. This is later reverse posted during TB upload
After migration, asset values at Current book value should match with the FI values

9

1 What is Residual and Part Payment? Ans: The payment that clears original invoice with incoming amount and creates new line item for remaining outstanding amount is a Residual Payment, the payment that leaves the original invoice amount and creates new line item for incoming amount is known as Part Payment.

2 What is the importance of baseline date in Automatic Payment Program Run? Ans: In Automatic Payment Program Run the base line date helps to pick the relevant invoices for payments, during the Automatic Payment Program run when the invoices are pulled into the run, the system checks the Next Payment Date before picking the invoices to be paid. Since the Base line date is used to calculate the due date by taking into account the payment terms.

3 How does the Procurement Cycle run? Ans: When a Sales Order is placed for a requirement made by a customer, then it is passed to create a purchase order this would depend upon the requirement. Then the value flow gets passed to Finance at the time of goods movement. In case of Sales Dept. the impact on Finance happens only at the time of billing. The complete process explains about Procurement Cycle Run.

4 What is the difference between APC, Accumulated Depreciation and Depreciation? Ans: APC would refer to Asset Transactions other than depreciation; Accumulated Depreciation is the total amount of depreciation calculated on a particular asset and Depreciation is a decrease in the value of an asset due to wear and tear.

5 What are the Journal entries passed in GR/IR? Ans: The Journal entries are passed in GR/IR account to maintain the temporary record of flow, since during the time between the invoice being created and delivery of goods, there can be a timing difference, in order to accommodate this timing difference.

6 What are the accounting entries take place in MM and SD? Ans: Value from MM to FI is defined in OBYC…. on the material master the flow of values are assigned on the Costing, accounting, etc tabs where the system helps to post the necessary stock values into the appropriate GL accounts. Helps to determine, the GL accounts updated when there is a movement of goods.

8

1 What is Residual and Part Payment? Ans: The payment that clears original invoice with incoming amount and creates new line item for remaining outstanding amount is a Residual Payment, the payment that leaves the original invoice amount and creates new line item for incoming amount is known as Part Payment.

2 Where does the Field Status of GL Master Records control? Ans: Field status of GL Master records is maintained by the field status variant since it maintains all Field Status Groups.

3 List the Segments of GL Master Record? Ans: COA Segment Account Group, Nature of Account, Short Text, GL account long text, Trading Partner, Group Account Number. Company Code Segment, Account Currency Tax and Reconciliation account for account type OIM, FSG.

4 Why do the Field Status Group assigned to GL Master Record Controls? Ans: Field Status Group is assigned to GL Master Record Controls since it controls the account assignments that are mode of the account.  Specifically the field status group controls whether postings to const centers, internal order, profitability segments and so as they require and not allowed (suppressed), or optional.

5 Why does a group chart of Account is used and what is Country and operational chart of Account? Ans: Chart of Account is used for consolidation of Company Codes and this is for group consolidation purpose. Where as the Operational Chart Of Account is for a day to day activities which is mandatory. Coming to COA it is used for legal specific requirement of each country, which is additional and optional.

6 What are the segments in a Customer Master Record? Ans: The Segments in a Customer Master Record are: a) General Data Segment      b) Company Code Segment and   c) Sales are Segment.

7 What are the Segments in a Vendor Master Record? Ans: The Segments in a Vendor Master Record are: General Data Segment  Company Code Segment and Purchasing Organization Segment.

8 What does the Clearing Open Line Items and Open Line item Management means? Ans: OIM allows displaying the open and cleared items and amounts in an account; it is used if an offsetting entry is made for every line item posted in the account. The account is reconciled and cleared against another account. Such as Salary clearing account and GR/IR Clearing account. And where as the open item management is a further re conciliation function.

9 What does the internal and external number ranges means? Ans: The document, which was generated by the system automatically in a serial order allotting the next available progressive number, which should be numerical, is termed as Internal Number Range. The document generated manually by the end user. System will not lock automatically in this case. So the user can pick the number randomly and it may be alpha numeric. So it was termed as External Number Range.

10 What is APC? Ans: APC stands for Acquisition and Production costs. Acquisition means any asset, which you may, acquire/ purchase externally. It includes invoice price and other related exp. Associated with it like customs, octopi, freight that you add and arrive at total cost of acquisition for capitalization of the asset. For ex say a computer. The total cost which you incur for the acquisition of the computer including installation will be your APC Production cost means any asset, which is created internally within the organization. This is normally created by means of AUC and you go on adding cost to the AUC as and when you incur exp. for the same. For ex. say addition to the office building. Therefore APC includes any external acquisition or internal construction of exp., which needs to be capitalized.

7

1 What does the Field Status Group Controls? Ans: Field Status Group Controls the fields that have the statuses such as Suppressed, Display, Optional and Required. It is a mandatory field in General Ledger creation and it defines in which fields are displayed when you post business transactions to G/L account.

2 Give the Structure of an Organization of FI? Ans:

3 Why do you use Special Periods and how many Normal and Special periods will be there in Fiscal Year and where do you Open and Close Periods? Ans: Special Periods are used for posting tax and audit adjustments to a closed fiscal year and there will be 12 Normal Posting Periods and 4 Special Periods. Transaction Code OB52, PPV is used to open and close the periods based on a/c types considering GL Accounts.

4 What is document type control? What are the entries in Company Code Global Settings? Ans: Vouchers containing line items and where Several Business Transaction can be identified particularly are known as document type. Document type controls the number ranges, Header part; IT controls the line item level. Coming to Global Settings it is a 4 digit Alphanumeric, Name of the Company, City, Country, Currency, Language and Address.

5 What does a Posting key control? Ans: Posting Key is a 2 character numerical key and it is special classification key and it determines Account type; Debit/Credit posting, Field status of transaction. Posting Key controls the entry of line items.

6 How many charts accounts can be assigned to a company? Ans: A charts account has to assign a chart of accounts to each company code. This chart of accounts is the Operating chart of accounts and is used for the daily postings in this company code. They have the following options when using multiple company codes. This can use the same chart of accounts for all company codes If the company codes all have the same requirements for the chart of accounts set up, assign all of the individual company codes to the same chart of accounts. This could be the case if all company codes are in the same country. In addition to the operating chart of accounts, you can use two additional charts of accounts if the individual company codes need different charts of accounts, it can assign unto two charts of accounts in addition to the operating chart of accounts. This could be the case if company codes lie in multiple countries. The use of different charts of accounts has no effect on the balance sheet and profit and loss statement. When creating the balance sheet or the profit and loss statement, choose whether to balance the company codes, which use different charts of accounts together or separately.

7 What does a Chart of Accounts Contain? Ans: Chart of Accounts Key Contain the a) Name b) Maintenance Language c) Length of the Gl Account Number d) Controlling Integration e) Group Chat of Accounts f) Block Indicator.

8 Can a COA be assigned to several companies? Ans: Yes. One COA can be assigned to several companies.

9 What does an account group control? Ans: The Account Group Controls the Number Ranges of GL account, the account group determines the fields that can configure on the G/L master record. It is necessary to have at least two B/S and P&L a/c.

10 Can a reconciliation account be directly entering documents in that a/c? Ans: It is not possible to use reconciliation account for direct posting since, When the data is posted into a subsidiary ledger, then the system would automatically posts the same data to the general ledger, each subsidiary ledger has more than one reconciliation accounts in the general ledger.

6

1. What is meant by access sequence? When it is used?
Condition type has an access sequence assigned to it which determines which tables to access for data and in what sequence. This has a sequence of table based on the most specific to most generic. It can be used for any new condition type creation.


2. How does the PO pick up the pricing schema?
The pricing procedure assigned to a vendor has a calculation schema attached to it. This schema defines the various conditions’ pre-requisite, calculation & sequence in the PO. Generally, only one type of pricing procedure is followed for all the vendors.


3.What are the types of special stocks available?-
Consignment stock - vendor- Components provided to vendor- Project stock- Consignment stock – customer- Pipeline material- Orders on hand


4. What are the types of inforecords?-
Standard- Pipeline- Consignment- Subcontracting


5. What is meant by consignment stock?
Consignment stock is the material which is lying in the premises but is not owned by the company. It has no value assigned to it until it is taken into own stock. Once it is used in production (or) to be sold, it is taken into own stock.


6. What are the steps involved in consignment cycle?
Consignment cycle is similar to a standard purchase cycle. The difference it that no accounting document is created at the time of goods receipts only QTY is updated.It is settled once the same is utilized.
Tell me about the subcontracting cycle.When the material is sent for subcontracting i.e. some value addition, it is converted into a different material. It needs a BOM to define the components of the finished item being received.


7. How is scrap accounted in subcontracting?
The scrap or the process loss can be adjusted while doing a quality inspection of the material received after subcontracting.


8. How are the byproducts taken care of in subcontracting?
Byproducts can be taken care of by defining them in the BOM
Tell me about the various movement types and usage.
101 – GR in unrest. use103 – GR in Blocked stock105 – Release from Block to Unrest. use stock.122 – Return to vendor from unrest. use stock.124 – Return to vendor from blocked stock301 - Plant to Plant tfr.309 – Material to Material tfr.311 – Tfr. from stg loc to stg loc261 – Issue for consumption.411 – Taking consignment stock into own stock.551 – Withdrawal for scrapping.Etc.


9. What is the difference between a contract and a scheduling agreement?
A scheduling agreement can be made for Consignment, Subcontracting and stock transfer. A contract, also known as a blanket PO, can be made for standard items and can be restricted to a Value or QTY.


10. How does the system calculate taxes?
Based on the calculation schema of that condition and based on access sequence assigned to it.


11. What are the cutover activities performed in final preparation phase?
This activity involves- Master data upload for objects like customer masters including partner function assignment, customer material info, pricing, outputs and credit masters.


12. How to create a Purchase Order to a vendor who got best rating in Price comparison session (ME49). I wish to create PO from this session directly, explain how can it be created?
Answer1:Vendor rating has to be done for new purchase order every time. PO can be generated by using transaction ME21N. This PO has to be released after creationThe other way is to assign that item to the vendor and maintain info records and update it by using ME11. This can also be done manually.
Answer2:This is not possible. Price comparison session only gives you the idea which supplier has given the best price for a particular material. You have to raise the PO ME21N transaction only.
Answer3:The vendor who has got best price will have a unique quotation number. Use ME21N transaction and create PO with respect RFQ from Overview tab .


13. What is the complete flow of the profit center accounting and Internal orders in controlling?
Profit Centre Accounting:The following data can be passed on in Profit Center Accounting
* Costs (assessment and/or distribution)* Revenue and sales deductions (assessment and/or distribution)* Balance sheet items (distribution)
For this purpose, it is necessary to define cycles containing rules for finding sender-receiver relationships.
Related Activities in Controlling
* Definition of actual assessment cycles* Definition of plan assessment cycles* Definition of actual distribution cycles* Definition of plan distribution cycles
Internal OrdersInternal orders are normally used to plan, collect, and settle the costs of internal jobs and tasks. The SAP system enables you to monitor your internal orders throughout their entire life-cycle; from initial creation, through the planning and posting of all the actual costs, to the final settlement and archiving:Features* You can use master data to assign certain characteristics to your internal orders, which enables you to control which business transactions can be used with the internal order.
* Internal order planning enables you to roughly estimate the costs of a job before the order starts and tomake an exact calculation at a later date. You can choose between various planning approaches to compare the effectiveness of different methods.
* You can assign and manage budgets for internal orders.
* You apply the actual costs incurred by a job to your internal orders using actual postings. In Financial Accounting, you can assign primary cost postings (such as the procurement of external activities and external deliveries) directly to internal orders.
* In period-end closing you can use various different allocation methods (for example, overhead costing) to allocate costs between different areas of Cost Accounting.Order settlement enables you to transfer the costs incurred by an order to the appropriate receivers.
* The information system for internal orders enables you to track planned and assigned costs on your orders in each stage of the order life-cycle.
* You can archive internal orders that you no longer require.


14. What is the one full implementation of life cycle in SAP-BW.?
Full life cycle implementation means implementing the project start from requirement gathering, analysis, solution design, mapping, implementing according to ASAP methodology.


15. How the Price determination process works in SAP-MM?
Price determination process:Create a Price schemaAdd a condition type if requiredAssign Access sequence to the condition type.Create a condition table and specify flds required.Create a cond. rec. The price schema for the particular mat. has a cond type. This pricing will trigger the Price determination process. Basically the access sequence assigned to the cond type will search the cond table to find the particular cond. rec. and determine the price.


16. What are the activities we will do in SAP MM module implementation?
Various activities in SAP MM are: Inventory, Warehouse, Purchasing, Vendor evolution, Invoice verification etc.


17. Explain what are the steps in the SD process at least up to the invoicing stage Answer1:1) pre-sales activity -inquiry,quotation2) sales-order,3) inventory sourcing,4) delivery,5) pgi,6) invoicing
Answer2:SD Inquiry– Quotation—Sales Order—Delivery—Transfer Order—-Post Good Issue—-Billing—Invoicing.
Condition technique :condition technique means, the combination of- condition table- access sequence- condition type- procedure- determination


18. What is the work you have done in the MM module and what programs did you use for creating views in MM?
1. Stock overview for a period can be done by Tcode-MB5B -further giving details like storage location,Plant,Material code,Date..
2. Stock as on date can be viewed by using Tcode-MMBE-further giving details like storage location,Plant,Material code.mail


19. How do you get the Sales Order (S.O) No. from the Delivery Order?
There are 2 ways through which you can see the reference of the documents.1) Through Document Flow
2) Enter the delivery-> Go at the item level and select TAB PREDECESSOR DATA tab and you can see the reference order number.


20. What is an Open Item in SAP?
How will you find an Open Item in SAP?
You can generate a list of open items from the information systems menu option:
General Ledger: Information system > General ledger reports > Line items > General ledger line items > G/L line items, list for printing.
Accounts Receivable: Information system > Reports for accounts receivable > Customer items > List of customer open items for printing. 
Accounts Payable: Information system > Reports for accounts payable > Vendor items > List of vendor open items for printing.