Greg has started working in the general ledger accounting department. As part of his learning, he is going to participate in the month-end and year-end close. He has completed the prerequisite courses so he has some SAP finance knowledge, but this is his first time working on the financial close.
Important Steps for Month-end and Year-end Close
As part of the month and year-end entity close, let’s first look at some of the necessary steps.
Month-end and Year-end Closing Activities
Pre-closing and Closing Activities
Certain closing steps can be performed before the end of the period.