Step by Step Guide to Month End Closing Process in SAP

By erpdocs | November 14, 2015

This document covers the following key points for the month end closing process in SAP:

  • The end of each period is characterized by a series of activities which includes opening of a new accounting period and closing of the current period
  • The Period-End Closing process is divided into four phases: Pre-closing Check/Readiness, Data Collection Closing, Reconciliation and Adjustment and Final Close
  • The G/L, AP and AR clearing is automated. Manual processing will only be conducted for exception items that cannot be reconciled
  • The reconciliation and adjustment phase is used to reconcile account entries across financial siloes and adjust financial postings as necessary
  • The Month End Closing process is considered complete when the posting periods across FI, FM and CO have been locked

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