Month End Activities in SAP FICO

  1. Financial Document Reconciliation:
    • Review and reconcile General Ledger (GL) accounts, ensuring that debits and credits match.
    • Verify open items and clear any outstanding items or reconciling items.
  2. Accruals and Deferrals:
    • Adjust accrual accounts to recognize expenses that belong to the current period but are not yet recorded.
    • Adjust deferral accounts to defer recognition of revenues or expenses to future periods.
  3. Depreciation Run:
    • Execute the periodic depreciation run for fixed assets using the appropriate depreciation keys.
    • Ensure that fixed asset values are updated, and any impairment losses are considered.
  4. Foreign Currency Valuation:
    • Revalue open items in foreign currencies to reflect the current exchange rates.
    • Evaluate the impact on balance sheet items and make necessary adjustments.
  5. Bank Reconciliation:
    • Match bank statement entries with SAP records.
    • Identify and resolve discrepancies, such as outstanding checks or deposits.
  6. Closing Cockpit:
    • Utilize the Closing Cockpit to organize and execute closing activities.
    • Monitor the progress of tasks, ensuring that each step is completed accurately.
  7. Run Financial Statements:
    • Generate financial statements like the balance sheet, income statement, and cash flow statement using SAP report programs.
    • Validate the accuracy of figures and investigate any significant variations.
  8. Tax Reporting:
    • Prepare tax-related reports, such as tax returns and declarations.
    • Ensure that tax codes and rates are up-to-date and applied correctly in transactions.
  9. Vendor and Customer Reconciliation:
    • Reconcile vendor and customer accounts by matching open items.
    • Clear any open items, and investigate and resolve discrepancies.
  10. Internal Order Settlement:
    • Settle costs from internal orders to the appropriate cost centers or projects.
    • Verify that settlements are in line with budgetary and project requirements.
  11. Review Controlling Reports:
    • Analyze Controlling reports, including variance analysis for cost centers and profit centers.
    • Investigate any significant discrepancies and take corrective actions.
  12. Archiving and Data Cleanup:
    • Archive historical data to improve system performance
    • Clean up obsolete data, such as unused master data or documents, to optimize system resources
  13. Document Parking and Posting:
    • Ensure all parked documents are reviewed and posted
    • Address any issues with parked documents, and ensure proper authorization for posting
  14. Audit Trail Review:
    • Review audit logs to track changes made during the closing process
    • Ensure that any alterations to financial data are appropriately documented and authorized
  15. Backup and System Checks:
    • Perform regular system backups to safeguard data integrity
    • Conduct system checks for errors, and address any issues affecting system performance


  1. Sovan
    December 16, 2023

    Learning purposes good. R2R.P2P. O2C

  2. booboopathi06
    February 13, 2024

    Dear madam/Sir,

    I’m aware of your need for a SAP at your company’s IT department. I am applying today with the required experience, training, and expertise that you are looking for. My ability to analyze business processes, coupled with my keen interest in data management, makes me a strong candidate for the SAP Finance role at your esteemed organization.You will find more details in my attached resume.

    Thanks & Regards,

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