Month-End GL Closing Process in SAP S/4HANA: Key Steps and Configuration Activities

This PDF training document provides an overview of the month-end closing procedures in SAP S/4HANA for the General Ledger module. It outlines the primary transactions and reports that are key parts of performing period-end tasks such as opening/closing periods, intercompany reconciliations, posting accruals and deferrals, clearing accounts, foreign currency valuation, and income tax accruals. The document aims to equip users with the knowledge to efficiently execute month-end close responsibilities for the general ledger.

Key topics covered in the document are:

  • Process Overview: High-level summary of activities involved in month-end close such as clearing accounts, posting adjustments, running valuations, creating reports.
  • Opening and Closing Posting Periods: Using transaction FAGL_EHP4_T001B_COFI to open next periods for posting and close previous periods.
  • Intercompany Reconciliation: Using FBL1H, FBL5H, and FBL3H transactions to reconcile AR/AP between group companies.
  • Accruals and Deferrals: Posting accruals and deferrals with FBS1 and reversing with F.81.
  • Automatic Clearing and GR/IR Clearing: Using F.13 for automatic clearing and F.19 for GR/IR clearing accounts.
  • Foreign Currency Valuation: Steps for performing currency valuation of open AP/AR.
  • Corporate Income Tax Accruals: Overview of accruing income tax expenses.
  • Financial Statements and Reports: Reviewing various GL reports and statements for closing.

Download PDF – Month-End GL Closing Process in SAP S/4HANA

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