Closing Activities

A) Month end year end closing processes
pre closing activities takes place in old month at month end level include
a)open new accounting period technical
b)Enter accrual/deferral bad debets depreciation, interest calculation fi
c)maintain GR/IR account clearing -mm
d)post payroll process HR
e)record goods issues for deliveries and invoice customers SD
f) co allocation and reposting locking old accounting period co
g)reconcilation posting to fi -co
h) foreign currency valuation
i) final closing of old period
in addition to pre closing activities at month end level following activitie are performed for year end closing
a) perform physical inventory-- MM
b)update product cost estimates pp/Co
c)valuation of materials on fifo/lifo -MM
d)assets valuation and investment support-AA
e)balance confirmation -a/p,Ar
f)fiscal year change AA
g)balance carried forward program-fi