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OKP1 – Period Lock

by on July 23, 2013

Purpose

Use this procedure to open or close the month on the Controlling module/ledger. This will allow or block postings to the CO ledger, including through posting from FI module. Period locks will be managed on the Controlling Period by the Financial Reporting office, based on when the Fiscal Month has been closed for financial reporting purposes.

There are separate CO period locks & Transaction locks for “Actual postings” and “Plan postings”. 

Trigger

Perform this procedure, together with the FI module close, to indicate the end of the fiscal month, according to the Month-end Closing schedule.

Prerequisites

Before closing a period, the user should make sure that all postings to the CO ledgers (including those originating from revenue & expense accounts into FI ledger) for the current month are completed by the Financial Reporting office and the User Departments. For this purpose, it is necessary to follow the month-end closing schedule, which would outline the sequence of the steps.

Menu Path

SAP menu ⇒ Accounting ⇒ Controlling ⇒ Cost Center ⇒Accounting  Environment ⇒ Period Lock  ⇒ OKP1 – Change

T Code: OKP1

period_lock_unlock

 

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