Executing the Steps for Month-End and Year-End Entity Close

Objectives
After completing this lesson, you will be able to:

After completing this lesson, you will be able to:

  • Describe the important steps in the month-end and year-end close

The Month-End and Year-End Entity Close

Introduction

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.

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