Asset Accounting Year End Close

7/30/2019 Asset Accounting Year End Close

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Asset Accounting Year-End Closing

Points to note before proceeding with the year end closing in AA:

The AA closing should always be done prior to FI Closing.

You can skip 1 fiscal year without closing, because at a time 2 fiscal year

can remain open. For example,

2011(Maybe skipped) 2012(To open 2013 you must close 2011) 2013

The year end closing is quite lengthy process, hence it is recommended

to begin to start closing process beginning period 12 as it normally takes

4-6 weeks for closing.

Please make sure to close the Sub-Ledger before the General Ledger.


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13 Steps for AA closing

Step 1: Recalculate values

Run RAAFAR00 ( T code: AFAR) to recalculate asset values.

Ensure all planned depreciation reflects current depreciation

settings. Please note that recalculation does not create postings

or change posted values, it simply updates the planned

depreciation amounts.


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Step 2: Incomplete Assets

Run RAUNVA00 (T code : AUVA) to find incomplete assets.These assets needs to be completed prior to year end closing.


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Step 3: Unposted Assets

Run RAANLA01 to find all unposted assets. Pay attention to

the Creation Date.

Cross reference with an Open PO/Project List.


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Step 4: Delete Assets

If you find any unposted assets during Step 3, you may want to

delete those assets using transaction AS06 (or AS26) since

these assets have never been capitalized.


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Step 5: Insurance index

Enter the insurance index using AYLS.

Index is needed for correct replacement value calculation.


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Step 6: Setup Calendar assignments.

If you use an year dependent Fiscal Year Variant then:

1. Identify all Periods in use (Check Depreciation keys)

2. Setup a new Fiscal year calendar assignments in

transaction OAVH:


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Step 7: Depreciate Period 12Run the monthly depreciation AFAB.

Make sure to correct the errors (if any).


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Step 8: Reconcile FI to AA

Compare FS10N for all Recon Accounts.

Reconcile Sub-Ledger with the General Ledger using the report

such as Total Depreciation or Asset Balances.

You may also use transaction ABST / ABST2 for this purpose.


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Step 9: Year end changeRun RAJAWE00 (T code AJRW) to open the new fiscal year in

AA.

Please Note: This step is not related to FI period.


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Step 10: Year end close

Run RAJABS00 (T code AJAB) to close the old fiscal year.

If errors are reported correct them before you attempt to close

again.

Please Note: FI-AA close is mandatory.


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Step 11: Reporting

Run asset reports and download/save them in report repository.

Include:

Asset history sheet (S_ALR_87011990)

Total Depreciation (S_ALR_87012004)Acquisitions (S_ALR_87012050)

Retirement (S_ALR_87012052)

Depreciation Simulation Forecast (S_ALR_87012936)

Primary Cost Planning (S_ALR_87099918)


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Step 12: Undo Close

You may reopen the fiscal year in AA for either company code (t

code OAAQ) or for individual Depreciation Areas (t code

OAAR).

If you reopened the year for posting areas you should repeatthis closing procedure starting with Step 1, otherwise step 7.


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Step 13: Update Support Systems

Perform all year-end closing steps in your Production Support

Systems else:

1. You will risk of transporting T093B/C with old fiscal year.

2. There could be inconsistency between the data.


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Asset Accounting Year End Close

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