SAP Period Closing – Asset Accounting

April 2, 2009 by mySAP
Filed under: Asset Accounting Process

Process Definition

Definition:

Period closing in Asset Accounting refers to both month-end and year-end closing by performing depreciation run.

Objective:

This SAP process is to close the Asset Accounting Module period on time and ensure that all fixed-asset related transactions are completed prior to periodic close.

Operation Rule:

All SAP transactions of fixed assets like acquisition, retirement and transfers should be completed before depreciation run and fiscal year change should be performed before month end closing.

In SAP, a fiscal year change is the opening of a new fiscal year for a company code. Once the fiscal year change takes place, assets can be posted using value dates in the new fiscal year. No SAP business transactions can be posted in a new fiscal year before the fiscal year change.

The year-end closing program is used to close the SAP fiscal year for the company code from an accounting perspective. Once the fiscal year is closed, Asset Accounting personnel can no longer post or change values within the Asset Accounting module, for example, by recalculating depreciation.

Frequency:

Normally, once a month for month-end closing and annually for year-end closing activites.

See period closing steps