SAP F110 Error: Postal giro office entry is missing | SAP Message no. FZ616

SAP F110 Error:Postal giro office entry is missing | SAP Message no. FZ616

Giro is basically the opposite of payment done via cheque. A GIRO order is given by the payer to his or her bank, which transfers funds into the payee’s bank account, the receiving bank then notifies the payee. Just like the Debit Card transaction.

This error occurs, if the Bank Master data used in Vendor Account Master is not a Post Office Bank Current Account. Continue reading “SAP F110 Error: Postal giro office entry is missing | SAP Message no. FZ616”

Order to Cash Cycle | SAP FI-SD Integration

This article will give you an overview of Finance (SAP FI) and Slaes (SAP SD) Integration with Order to Cash cycle with accounting entries.

What is Order to Cash Cycle?
“Order to cash” or O2C cycle starts with pre-sales activity. It involves sales order from customers and ends with receiving the payment from customers.

Continue reading “Order to Cash Cycle | SAP FI-SD Integration”

IBAN Number in SAP

IBAN stands for “International Bank Account Number”. It is a standardise and unique  bank account number designed to process cross-border transfers.
It is a series of 34 alpha-numeric characters ( and structured differently in every country), and is made up of following elements:

  • Bank Country Key (ISO Code)
  • Two Check Digits
  • Country specific Account Number.

Continue reading “IBAN Number in SAP”

Free WordPress Plugins | WordPress

WordPress is undoubtedly one of the best Content Management System. From Free Themes to Free Plugins to open for customizing. Such Flexibility with high class, fully responsive website builder is hard to find. And this is the reason WordPress is the most loved and my first choice to make a website.

Here in this article I have shared few WordPress Plugins which are free and are of Premium Quality. Thanks to all those developers who work so hard, put such complex things together, and then do the charity by providing the plugins for free to use.

Continue reading “Free WordPress Plugins | WordPress”

Golden Rules of Debit and Credit : Basic Accounting

Golden rules of accounting convert complex book-keeping rules into a set of well defined principles which can be easily studied and applied. They are also called the traditional rules of accounting or the rules of debit and credit.

In accounting every transaction is recorded. And Every transaction involves two accounts. One account receives the benefits and the other accounts gives the benefits. The account which receives the benefits is called the Debit Accounts and the account which gives the benefits is called the Credit Accounts. And the value of debit entry is equal to the value of credit entry.Continue reading “Golden Rules of Debit and Credit : Basic Accounting”

Activate Open Item Management For GL Account | SAP FICO

To activate OPEN ITEM MANAGEMENT FOR GL ACCOUNT in SAP

There is two possibility or environment where we have to activate any GL for Open Item Management.

  • If postings are not made into the GL Account : FS00
  • if postings are already made into the GL : FAGL_ACTIVATE_OP

Continue reading “Activate Open Item Management For GL Account | SAP FICO”

SAP FICO TCodes for Month End and Year End activities

CLOSING ACTIVITIES

  1. Execute Report for Inter Company Activity & Journal Entries
  2. Open posting period for next yr (T.Code: OB52)
  3. Run Business Area’s Assignment report. (T.Code: F.50)
  4. Review list of recurring journal entries (T.Code: FBD3)
  5. Execute Recurring Entries for A/R, A/P, G/L (T. Code: F.14)
  6. Process Parked A/R, A/P, G/L accounting documents (T.Code: FBV0)
  7. Final Cutoff for the Maintenance of Fixed Asset- Add Transfer and Retire (T.Code: ABUMN)
  8. Run Depreciation in Test Run and post (T.Code: AFAB)
  9. Verify Display Log for Depreciation Test Run (T.Code: AFBP)
  10. Capitalize AUC Assets if needed (T.Code: AIAB, AIBU)
  11. Enter Payroll Data to SAP (T.Code: CAT2)
  12. Verify Depreciation Balances with GL balances (T.Code: ABST2)
  13. Post Depreciation (T.Code: AFAB)
  14. Execute Asset History Report, and retire assets if needed (T.Code: S_ALR_87011963, ABAVN)
  15. Adjust specific depreciation areas if necessary (T.Code: ABCO)
  16. Reconcile AM sub ledger with GL (T.Code: ABST2)
  17. Check Bank Data (T.Code: S_P99_41000212)
  18. Review AR Open Items (T.Code: FBL5N)
  19. Review AP Open Items (FBL1N)
  20. Execute Pending Invoices(T.Code: MRBP)
  21. Clear Open Item for GRIR, freight (T.Code: F.13)
  22. Reconciliation of Financial Documents and transactional figures (F.03)
  23. Open new CO Posting Period: (T.Code: OKP1)
  24. Compare current (cost estimates) with last current price (Moving Avg) (T.Code: OKBH)
  25. Update current cost price to material master price field (T.Code: CK11N, CK24)
  26. Process Freight charges, Match SD freight to actual (T.Code: V-31)
  27. Review Internal Order Postings(T.Code: OKSA)
  28. Settle All Orders (T.Code: KO88)
  29. Verify All Post Goods Issue have been Invoiced (Billing Due List) (T.Code: VF04)
  30. Review SD Billing Doc from prior month that have not yet been released to accounting (T.Code: F.2D)
  31. Reconciliation of MM movements in Transit Intra-SAP to Non SAP
  32. Reconcile PI Inventory with SAP (T.Code: MI07)
  33. Perform Manual Adjustment if needed (T.Code: F-02, FB50)
  34. Verify balance of the GR/IR account (T.Code: MB5S)
  35. Post Accruals and Deferrals (T.Code: FBS1)
  36. Clearing of Cancelled Documents (T.Code: F-03, F-32, F-44)
  37. Check Profitability Segment Adjustment (T.Code: KISR)
  38. Aging Report-Reconcile GL balances with sub ledger balances AP (T.code: FBL1N, FBL5N, FBL3N)
  39. Check the check run numbers (T.Code: FCH1, FCHI)
  40. Bank reconciliation Data (T.Code: FF67 & FEBA)
  41. Enter Tax Journal Entry (T.Code: FB41)
  42. Reconcile GL balances with sub ledger balances AR/MM/AP (T.Code: F.03)
  43. Display Balance Sheet Adjustments (T.Code: F.5F)
  44. Post Balance Sheet Adjustments (T.Code: F.5E)
  45. Post Foreign Currency Valuation (foreign exchange) (T.Code: F.05)
  46. Check generic cost centers for posting with wrong accounts
  47. Correct wrong postings on generic cost centers
  48. Check Validation dates for Cost Centers, Cost Elements, CO area (T.Code: GGB0)
  49. Check COGI–for both month end and year end
  50. Doubtful receivables (T.Code: F104)
  51. Verify In-transit Inventory
  52. Reconcile PA to G/L (T.Code: KE5U)
  53. Post Cost Center Assessments and Distributions (T.Code: KSU5 & KSV5)
  54. Run CO-FI Reconciliation to balance (T.Code: KALC)
  55. Run BW reports P&L and Balance Sheet
  56. Maintain CO yr variant (T.Code: KCRQ)
  57. Fiscal Yr Balance carry forward AP/AR/AM (T.Code: F.07,
  58. Fiscal Yr Balance carry forward CO (T.Code: CXS1)
  59. Fiscal Yr balance carry forward FI (T.Code: F.16)
  60. Fiscal Yr balance carry forward PCA (T.Code: 2KES)
  61. Set Document number ranges – FI – new year (T.Code: OBH2, OBA7)
  62. Set Document number ranges AP/AR – new year (OBA7)
  63. Generate Financial statement Reports (T.Code:OB58) OR (T.Code: FSE2)
  64. Change Fiscal Year For Assets (T.Code: AJRW)
  65. Year end Closing– Asset Accounting–final for year end (T.Code: AJAB)
  66. Close CO Posting Period : (T.Code: OKP1)
  67. Close Prior A/R Posting Period (T.Code: OB52)
  68. Close Prior A/P Posting Period (T.Code: OB52)
  69. Close Prior MM Posting Period (T.Code: OMSY)
  70. Reverse accruals and deferrals for the new month (T.Code: F.81)
  71. Reconciliation of Financial Documents from old fiscal year and new fiscal year (T.Code: FNSL)
  72. Load Balances, Budget Data for Cost centers, sales
  73. Update Retained Earning Account , balance carry fwd (T.Code: F.16)

 

Month end closing Activities

  1. All the expenses including amortization, prepaid expenses, Preliminary expenses and accruals have been booked.
  2. Complete Bank Reconciliation (T.Code: FF67)
  3. Make sure that Sum of Inter company balances is Zero
  4. Suspense Accounts should be cleared regularly.
  5. Ensure that all documents related to MM & SD have been entered in system. (T.Code:F-22 & F-43)
  6. Ensure that all billing documents are released to accounting.
  7. Calculate Overheads on all process Orders (CO43)
  8. Technically complete all process orders which are fully processed (CORM).
  9. Calculate Variance (KKS1)à (Relevant only if Standard cost is calculated).
  10. Settle all process orders which are technically complete (CO88).
  11. Close All settled Process Orders
  12. Close MM period (Transaction Code: MMPV).
  13. Carry out GR/IR clearing (F.13) transaction
  14. Depreciation Run (AFAB) has been carried out for the month
  15.  Close FI Posting period after the month end closing activity is over (T.Code:OB52)

 

Year end closing Activities:

 

  1.  Calculate production work in progress on process orders which are not technically complete.
  2. Carry out Assessment cycle for Cost Centers.(T.Code: KSUB)
  3. All month end closing Activities should be carried out.
  4. Carry Forward Balances to next year

(With TC: F.16 we can carry forward the balance to next year. With TC: OBH2 copy the number ranges to next year Open next year periods by selecting the Posting Period Variant. then test by posting the transaction in F-02)