The process described in this article assists you in keeping on top of Critical Factors, such as data consistency, which can involve a considerable amount of time and work during the year-end closing phase in asset accounting. This article takes you through all of the steps necessary for an unproblematic year-end closing, before the critical external audit phase.
Contents:
Part 1: Preparation for Year-End Closing in Asset Accounting
1. Check Last Closed Fiscal Year in FI and FI-AA
2. Check Customizing Using Report RACHECK0
3. Check Incomplete Assets
4. Check Indexes
5. Recalculate Depreciation
6. Execute Depreciation Posting Run
7. Execute Periodic Posting Program
8. Reconcile General Ledger and Subsidiary Ledger
9.Execute Fiscal Year Change Program
Part 2: Execute Year-End Closing Program