BUSINESS PRACTICE BULLETIN BULLETIN NO.

: A-481
The School Board of Broward County, Florida PAGE: 1 OF 1

DATE:: March 25, 2007

SUBJECT: MONTH-END CLOSING PROCESS IN SAP

GENERAL:

This bulletin pertains to the fiscal monthly closing process for the District. Many of the tasks
involved in closing the financial records involve processes that are also performed on a daily
basis. This bulletin does not detail the procedures for these processes, but outlines the tasks
themselves and their timing, which must be completed to close the financial records. The goal
for month-end processing is to reduce the amount of time and effort expended to close the
District’s financial books, to properly close the fiscal period to avoid any prior period’s errors,
and to expedite financial data reporting to all interested parties.

A. PROCEDURES

1. Ensure that financial statements produced on a timely and accurate basis, within
8 working days of the end of the reporting month.

2. Establish a schedule of month-end tasks that are performed by various

departments and monitored by the Financial Reporting Department (See Exhibit
A – SAP Month-End Closing Calendar, and Exhibit B – SAP Month-End
Closing Checklist).
.
3. Financial Reporting is responsible for managing the month-end closing process.

Supersedes: Issued By:

N/A New Business Practice Bulletins Financial Reporting
EXHIBIT A SAP Month-End Closing Calendar

DAY 0 DAY 1 DAY 2 DAY 3

Responsible

Responsible

Responsible

Responsible
(Last day of the reporting
month)

Dept

Dept

Dept

Dept
FR Open Next Month's Posting Period AP Maintain GR/IR Account FR Record Accrued Expenses CO Test Run Time & Travel (CO)
(CO, FM, GL) (AP, MM) TR (Assets & Liab)
FNS AP, GL (no Payroll)
SchJ Roll MM period PR Record Payroll Accrual FR JE Upload for Payroll Indirect Fringe
(Brite) Note: Accruals Must be Done
(HR) (after SAP Payroll 6.0 Go- Benefits Allocation (GL)
before Allocations
Live)
Schools/ Complete All Goods Receipt Brite Complete & Verify Daily TR Investment & Debt Postings
Depts Of the Reporting Month (MM) Interfaces & Batch Jobs -Interest Accrual
(Payroll, Compass, POS) -Allocations
-Market Valuation
(CM)

FR Review and Post All Parked Entries TR Load Last Electronic

TR (AP, GL) Bank Statement (EBS)
FNS
Of the Reporting Month
Bud Review Pre-posted Budget Transfers (CM)
CBud (FM)

AP Post Final AP Invoices (AP) FR Post PO Commitments to

GL Fund Balance or
FR TR Record Recurring Expenses (GL) Reserve (FM)
FNS

FR EOD: Close A/P period

Legend Responsible Dept

AR Accounts Receivable AP Accounts Payable
AP Accounts Payable Brite Brite Team
BI Business Intelligence Bud Budget
CATS Cross-Appplication Time Sheet CBud Capital Budget
CM Cash Management FNS Food & Nutrition Services
CO Controlling FR Financial Reporting
EBS Electronic Bank Stmt Grant Grants
FI Financial Module PR Payroll
FM Funds Management SchJ Scheduled Job
GL General Ledger TR Treasury
GM Grants Management
GR/IR Goods Received/Inventory Clearing
MM Materials Management

Page 1 of 2
EXHIBIT A SAP Month-End Closing Calendar

DAY 4 DAY 5 DAY 6 DAY 7

Responsible

Responsible

Responsible

Responsible
For Financial Reporting Only

Dept

Dept

Dept

Dept
FR, TR, Enter Adjusting Entries and TR Reconcile Fund-Level Cash FR Run & Review Pre-Close TR Reverse Accrual for Interest on
FNS Reclasses (GL) FNS to Investments & Cash on FNS Reports (GL) Investments & Debt (GL)
Hand (CM)
Grant Run Assessments for Grants FR Perform Variance Analysis FR Reverse Accruals in the New
Brite (GM) FNS (GL) Reporting Period (GL)
Grant Run Indirect Direct Costs (GM) TR Last Day to Post FR Post Adjustments (if any) FR Complete Bank Reconciliations
Brite FNS Cash Receipts/Clearing FNS (GL) (GL)
(CM)
CO Run FNS Utilities Assessments (CO) FRBank Reconciliations (to FR Run Final Financial Reports
final hardcopy (Wave1)
(GL)
CO Post Time & Travel (CO) FR Run Financial Accounting FR Verify BI Extracts & Reports (GL)
CBud FNS Comparative Analysis
(Sub-Ledgers) (GL)
Grant Resource Related Billing FR Post Final Adjusting/Re-
Brite for Reporting Month (AR) FNS Class Entries (GL)

FR EOD: Close CO period

FR EOD: Close FM period

FR EOD: Close GL period

Inform All End-Users that

FR
Reporting Month is Closed
for FI Postings (GL)

Page 2 of 2
 EXHIBIT B SCHOOL BOARD OF BROWARD COUNTY, FLORIDA
SAP MONTH-END CLOSING CHECKLIST

Check Box
to Indicate
Step Completion Description Deadline Responsibility
1. † Open next month's posting period (GL, FM, CO) Day 0 FR
2. † Roll MM Period (MM) Day 0 SchJ/BRITE
3. † Complete all Goods Receipts of reporting month (MM) Day 0 Schools/Depts
4. † Review parked documents for posting (GL, AP, AR) Day 0 FR, TR, FNS
Post parked documents that belong in reporting month (GL,
5. † AP, AR)
Day 0 FR, TR, FNS

6. † Review pre-posted budget transfers (FM) Day 0 Bud/CBud

7. † Post final A/P invoices (AP) Day 0 AP

8. † Record recurring expenses (GL) Day 0 FR, TR, FNS
9. † Maintain GR/IR account (AP, MM) Day 1 AP
10. † Record Payroll Accruals Day 1 PR
Complete and verify daily system interfaces/batch jobs
11. † (Payroll, Compass, POS)
Day 1 BRITE

Load last electronic bank statement (EBS) of reporting month

12. † (CM)
Day 1 TR

13. † Record Accruals (Exp, Assets/Liab, other than payroll accruals) Day 2 FR

Record Investments & Debt Postings (Interest accruals,

14. † allocations, market valuations) (CM)
Day 2 TR

15. † Post PO Commitments to GL Fund Balance/Reserve (FMTB) Day 2 FR

Test Run of Time & Travel Allocations for Capital Budget to

16. † review (CO)
Day 3 BRITE/CBud

17. † Capital Budget review Time & Travel file Day 3 CBud
18. † Allocation for Payroll Indirect Fringe (JE upload) Day 3 FR

19. † Post adjusting/reclass entries (GL) Day 4 FR, TR, FNS

20. † Run Assessments for Grants (GM) Day 4 BRITE

21. † Run Indirect Direct Costs (GM) Day 4 BRITE

22. † Run Food Service Utilities Assessments (CO) Day 4 BRITE

Capital Budget return Time & Travel file with changes to

23. † BRITE
Day 4 CBud

Reconcile Fund-Level Cash to Invesments & Cash on Hand

24. † (CM)
Day 5 TR, FNS

25. † Last day to post Cash Receipts/Cash Clearing entries (CM) Day 5 TR, FNS

1 of 3
 EXHIBIT B SCHOOL BOARD OF BROWARD COUNTY, FLORIDA
SAP MONTH-END CLOSING CHECKLIST

Check Box
to Indicate
Step Completion Description Deadline Responsibility
26. † Post Time & Travel (CO) Day 5 BRITE
Charge out deficit in Fund 7930 to General Fund and Capital
27. † Projects Funds based on allocated budget
Day 5 FR/CBud/Bud

28. † Resource Grants Related Billing for reporting month Day 5 BRITE

29. † Run amd review Pre-Close reports (GL) Day 6 FR, FNS

30. † Perform variance analysis (GL) Day 6 FR, FNS

31. † Bank reconciliations (to final hardcopy) (Wave 1) (GL) Day 6 FR

Run Financial Accounting Comparative Analysis (Sub-
32. † Ledgers) (GL)
Day 6 FR

33. † Post final adjusting/reclass entries (GL) Day 6 FR, TR, FNS

34. † EOD: Close CO period, FM period, GL period Day 6 FR

Inform all End-Users that reporting month is closed for FI
35. † postings
Day 6 FR

36. † Reverse accruals for Interest on Investments/Debts Day 7 TR

37. † Reverse accruals in the new reporting period (GL) Day 7 FR

38. † Complete bank reconciliations (GL) Day 7 FR

39. † Run final Financial Reports (BI) Day 7 FR

40. † Verify BI reports Day 7 FR

Notes: Day 0 = Last working day of reporting month

Day 1 = 1st working day of following month
…
Item in grey will be effective after SAP Payroll 6.0 Go-Live

2 of 3
 EXHIBIT B SCHOOL BOARD OF BROWARD COUNTY, FLORIDA
SAP MONTH-END CLOSING CHECKLIST

Check Box
to Indicate
Step Completion Description Deadline Responsibility

Legend Responsible Department

AA Asset Accounting AP Accounts Payable
AP Accounts Payable BRITE BRITE Team
AR Accounts Receivable Bud Budget
AuCs Assets-under-Construction CBud Capital Budget
BI Business Intelligence FNS Food & Nutrition Serv.
CM Cash Management FR Financial Reporting
CO Controlling PR Payroll
EBS Electronic Bank Stmt SchJ Scheduled Job
FI Financial TR Treasury
FM Funds Management
GL General Ledger
GM Grants Management
GR/IR Goods Received/Inventory Clearing
MM Materials Management

3 of 3