1. Determine the company codes that are to be closed.
2. Check what the last closed fiscal year was (Periodic processing ® Year-end closing ® Reverse).
3. Check whether all low value assets have been capitalized. If LVAs were collected in a profit and loss account, the balance from this account must be capitalized to an asset.
4. Settle all assets under construction that were completed in the fiscal year you want to close.
5. Start the program for recalculating depreciation (refer to Recalculating Values), in order to include any possible changes in the depreciation terms for assets in the fiscal year to be closed.
6. Run the last regular depreciation posting run. If the depreciation amounts changed since the last regular posting run, you can start additional posting runs for special periods (refer to Periodic Posting of Depreciation).
7. Run reports on the current asset values. Analyze whether these values meet the requirements of your accounting policy. If necessary, you can make adjustment postings within the latitudes allowed for asset values and for the inclusion of assets in the asset portfolio. Return to point 5.
8. Start the year-end closing program (Periodic processing ® Year-end closing). The program blocks the current fiscal year to further posting to assets.
9. Create the necessary reports (for example, asset history sheet).

Graphic: Year-End Closing - Flowchart