Month-End Close Schedule: SAP Module and Representative Standard T-Code by Task

This post lists the tasks handled at month-end close, in order of deadline.

Month-end close tasks

Task	Explanation	Deadline	SAP module	Representative Standard T-Code
Goods receipt close: equipment/construction purchases (equipment, parts and supplies for plant facilities)	Record in SAP that equipment, parts and supplies bought for the plant facilities have arrived. Construction work has no goods, so you record a confirmation that the work is done (a service entry sheet).	D+0	MM (Materials Management)	MIGO (Goods Movement) ML81N (Service Entry Sheet)
Goods receipt close: raw and auxiliary materials	Record in SAP that the raw materials used to make products, and the auxiliary materials that go in with them, have arrived. Warehouse stock goes up by the quantity received.	D+1	MM (Materials Management)	MIGO (Goods Movement)
Product shipping close	Record in SAP that finished products were sent to customers (goods issue). Goods issue lowers warehouse stock, and only then can the bill for the customer be created.	D+1	SD (Sales and Distribution)	VL02N (Change Outbound Delivery)
Production close (post actuals in ERP)	Record in SAP how much was produced this month and how much raw material was used (production actuals). These numbers are later used to calculate product cost.	D+2 AM	PP (Production Planning)	CO15 (Enter Production order Confirmation)
Receivables collection and clearing close	Money a customer owes the company is called a receivable. When the money actually comes in, the receivable is marked as received (cleared), so that only unpaid amounts remain.	D+2 AM	FI (Financial Accounting)	F-28 (Post Incoming Payments) F-32 (Clear Customer)
Controlled expenses close (including corporate cards)	Post expenses that the company manages with a set limit (budget), such as entertainment and meeting costs. Money spent with company (corporate) cards is handled here too.	D+2 PM	FI (Financial Accounting)	FB60 (Enter Incoming Invoices)
General expenses close (trade payables, etc.)	Post the various costs of running the company, such as phone bills and fees. They are entered from the invoices that suppliers send.	D+2 PM	FI (Financial Accounting)	FB60 (Enter Incoming Invoices)
Purchase invoice close: raw and auxiliary materials	Enter in SAP the bill (invoice) sent by the company that sold the raw and auxiliary materials. What was ordered, what was received and the invoice amount must match before payment can be made.	D+2 PM	MM (Materials Management)	MIRO (Enter Incoming Invoice)
Purchase invoice close: equipment/construction (equipment, parts and supplies for plant facilities)	Enter in SAP the bills sent by the companies that sold equipment, parts and supplies or did construction work. Check that the amounts match the goods received or the work completed.	D+2 PM	MM (Materials Management)	MIRO (Enter Incoming Invoice)
Sales close (sales/shipping)	Create the bill that asks the customer to pay for the products shipped (billing document). Once the bill is created, it counts as this month's sales.	D+2 PM	SD (Sales and Distribution)	VF01 (Create Billing Documents)
Tax invoice issuing close	Issue electronic tax invoices, the official proof of a sale in Korea. Issued tax invoices go to the customer and the National Tax Service, and are used to calculate VAT.	D+2 PM	FI (Financial Accounting)	EDOC_COCKPIT (eDocument Cockpit)
Maintenance work order close	Each repair job on the plant facilities has a work order. Enter the hours worked and set finished jobs to complete, so that repair costs are collected correctly.	D+2 PM	PM (Plant Maintenance)	IW41 (Enter PM Order Confirmation) IW32 (Change Maintenance Order)
Closing entries close (valuation, accruals, etc.)	Recalculate amounts held in foreign currencies such as dollars at the month-end exchange rate (valuation). Costs incurred this month whose bills have not arrived yet are booked in advance (accruals).	D+2 PM	FI (Financial Accounting)	FAGL_FCV (Foreign Currency Valuation) FBS1 (Enter Accrual/Deferral Doc.)
Document approval close by authorized approvers (purchase invoices, etc.)	A person with approval authority checks and approves documents such as purchase invoices. A temporarily saved (parked) document becomes a posted document only after approval.	D+2 PM	FI (Financial Accounting)	FBV0 (Post Parked Document)
CO close (management accounting)	After all actuals are in, the collected costs are passed on to departments and products (settlement), and the actual cost of making each product is calculated.	D+3	CO (Controlling)	KO8G (Act. Settlment: Int.-/Maint. Orders) CKMLCP (Cockpit Actual Costing)

※ D+0 is the last day of the month, and the numbers count business days. T-code names are the SAP English screen names.

※ Close tasks, deadlines and T-codes can differ by SAP version and company process.

Korean version of this post: blog.naver.com/jeonnow/224429076334