Period-End and Year-End Closing in Finance

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Month-end and year-end close checklist

• Calendar: every task has one owner, a predecessor, a system step and an expected output.
• Gates: FI posting periods by account type, materials period (MMPV), controlling period lock.
• Accruals: post with reversal date; check day-1 reversals; check GR/IR before manual accruals.
• FX valuation: load key date rates, test run, review log, post, check every ledger.
• GR/IR: clear matched lines, analyze by PO item and age, approved write-offs, reclassify.
• Regrouping: debit suppliers and credit customers to adjustment accounts; reverse on day 1.
• Year-end: open period 01, carryforward per ledger, asset year change, special periods 13-16.
• Rerun carryforward after every late old-year posting; tie P&L net to retained earnings.
• Dry run: realistic month in the test client, independent expectations, run times recorded.
• Sign-off: reconciled trial balance and subledgers, evidence per task, defects with owners.