CHECKLIST FOR MONTHLY ACCOUNTS CLOSURE

(CMAC)
(effective 1 January 2017)

Month/Year
Reviewed:

Office

Office
Remarks
Completed
Procedures T -code
Y or N
A BANK AND CASH
A.1 All payments and deposits made in the current month are
depends on the
recorded and posted in PRISM FI in the same month that the transaction
receipt/payment actually occurred
A.2 Obtain the Bank Statement to check all transactions (debits &
Outside PRISM
credits)
A.3 Prepare bank reconciliation and move the following:
F-03
* Matched payments from the GL account (xxxxx2) “Uncleared FB50 - to record bank
payments” to (xxxxx0) “Cleared items” charges and interest
* Matched receipts from the GL account “(xxxxx1) Uncleared expense/income
receipts” to (xxxxx0) “Cleared items”
A.4 Check that pending adjustments from the previous month's bank
reconciliation were done. Make notations on the printed report ZBANK_RECON
generated from PRISM re cheques outstanding for more than
two months and for any deposits not yet recorded at the bank.
A.5 Check that bank balance showing on the bank statement agrees ZBANK_RECON
to the cleared items GL account (xxxxx0)
A.6 Ensure that bank accounts do not incur abnormal balance (credit
ZTB - Cash, Bank and
balance in main bank GL account xxxxx0; outgoing GL account VAT
xxxxx2 is higher than main bank GL account xxxxx0)
A.7 Check the cash journal for possible saved transactions. Ensure FBCJ
that all transactions entered in FBCJ are posted.
A.8 Conduct a physical cash count, prepare the cash certificate and FBCJ
Cash count and
reconcile to the accounts.(Ensure that cash GL, cash journal and issuance of certificate
cash certificate are reconciled) is outside PRISM
A.9 FBCJ
Ensure that surprise cash counts are conducted throughout the Cash count and
year (at least 3). This is apart from the A.8 requirement above issuance of certificate
is outside PRISM
A.10 Reconcile official receipts and payments issued during the month FBL3N
Accounting for the
to the appropriate cash/bank GL accounts to ensure all receipts completeness of OR is
and payments are fully accounted for in PRISM. outside PRISM
B CUSTOMERS
B.1. Check validity of any items recorded on one time customer FBL5N (Customer = X+
account and follow up the receipt of collection. Office's BA)
B.2 Perform housekeeping of matched items in the one-time
F-32
customer account

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 Checklist for Monthly Accounts Closure (CAC)
Effective 1 January 2017
Completed
Procedures T -code
Y or N
B.3 ZTB - customers
Review open items especially those that are three months old
ZARA
and above. Follow up the receipt of collection. Inform Revenue
(parameter:
mailbox of any amounts that are doubtful.
Managing Office)
C VENDORS - SUPPLIERS
C.1. Payables (normal items) - Review all open items especially those
that are two months old and above and provide explanatory
notes on the printed report generated from PRISM. Check if ZAPA/ FBL1N
these are within the agreed credit terms and if there are no
double payments or double charging of expense to the projects.
C.2 Down Payments (special GL) - Review all open items especially
those that are two months old and above. Investigate why
ZAPA/ FBL1N
goods/services have not been received/rendered yet. Provide
explanatory notes on the printed report generated from PRISM.
C.3. Check validity of any items recorded on one time customer FBL1N (Vendor=
account and follow up the receipt of collection. Office's BA + V)
C.4 Perform housekeeping of matched items in all vendor accounts F-44
D VENDORS - STAFF
D.1. Review all open items (including down payments) especially
those that are two months old and above. Ensure that salary,
travel, operational, rent and other advances are amortized and ZAPA/ FBL1N
recovered from staff. Provide explanatory notes on the printed
report generated from PRISM.
D.2 Perform housekeeping of matched items in the vendor accounts F-44
E OTHER ACCOUNTS
E.1 VAT receivables - check whether these are already claimed from
the government and follow up the receipt of reimbursement.
FBL3N and F-03
Perform housekeeping of accounts, giving special attention to
clearing aged VAT receivables.
E.2 Cash in transit accounts (account 119010 to 119030) - Review
and account for cash in transit. In all but exceptional
FBL3N and F-03
circumstances, should be zero balanced at month end. Perform
housekeeping of accounts
E.3 Self-payer Reimbursement (Account 232110) - review
transactions and check for departed proflights for reclassification FBL3N and F-03
to revenue account. Perform housekeeping of accounts.
E.4 Account 210110 for office live in PRISM HR - perform
housekeeping of accounts. Any unpaid salary is reclassified to
FBL3N and F-03
the corresponding staff vendor account. This should have a zero
balance every month.
E.5 Account 210510 for offices not live in PRISM HR - Transactions
recorded are reviewed and reclassified to the appropriate
FBL3N and F-03
vendor accounts. Perform housekeeping. This should have a
zero balance every month.
E.6 Transition GL account 230120 - outstanding amounts are
FBL3N and F-03
reviewed and cleared
F TRANSPORT
F.1 Check whether status of all proflights departed are changed from
"issued" to "used" - coordinate with Ops staff ZME2 using Office's
plant, PO, open
documents &
document type ZI

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 Checklist for Monthly Accounts Closure (CAC)
Effective 1 January 2017

Completed
Procedures T -code
Y or N
F.2 Account 210120 "Staff travel cost" - check the transactions and Refer to G.1 for staff
ticket
reclassify charges to appropriate WBS or correct vendor account.
FBL3N to check for
Perform housekeeping of accounts. details
Note: Ideally, only private deviations are charged to this GL FB50 and F-03
G PROJECTIZATION
G.1 Check postings to the cost center and verify that all are valid and S_ALR_87013635 OR
legitimate. Generally, should be brought to zero every month KSB1
G.2 Cost center balance per GL account should be zeroed out in S_ALR_87013635 OR
Object currency KSB1
G.3 Re-code all real postings that are not to be projectized (e.g.
FB50
erroneous postings) to the correct WBS elements.
G.4 Create and/or check, the cost distribution cycle and ensure that KSV1 (Create Actual
the percentage assigned to each project is correct Distribution Cycle)
KSV2, KSV3 (Edit and
Display Distribution
Cycle)
G.5 Run the cost distribution cycle
KSV5 (Execute Actual
Distribution)
H MATERIAL MANAGEMENT
H.1 Project commitments - check open Purchase Requisitions and
Purchase Orders and ensure that cancelled transactions are
ZME2
properly registered in the system to release the committed (Purchasing Group)
budget. Coordinate with Procurement and Ops Staff.
H.2 Open MIGO or MIRO - check open PO's to investigate reason for
ZME2 (Purchasing Org
not receiving the goods and/or invoice. Coordinate with or Purchasing Group)
Procurement and Ops Staff.
H.3 Check blocked invoices MRBR with purchasing
group
I ASSET MANAGEMENT
I.1 Check that all assets created during the month have been
properly acquired in the system (the asset master record should ZUPA
have been linked to the PO)
I.2 Check that all acquired assets are blocked to avoid further ZASSETLIST (ASM
acquisition. Blocking should be done once MIRO has been status column)
performed. AS05
I.3 Check that all acquired asset has a separate asset master record
ZASSETLIST (Qty
where quantity is equivalent to 1. The exception is for column)
"Beneficiary assets" or class 6000
I.4 Check that all Beneficiary assets or class 6000 are retired once ZASSETLIST (class
column)
handed over to beneficiaries. Check that all Beneficiary assets
ABAVN/ZABAVN
delivered are updated in PRISM AS02 to update
beneficiary assets
I.5 Ensure that all assets are acquired thru the use of Material
ZASSETLIST (PO
Management. External asset acquisition is only permissible for Number column)
in-kind asset contributions
I.6 Ensure that assets acquired for a completed project which are
allowed to be retained by IOM are transferred to office's
ZASSETLIST
respective MI.8888 project at project closure (except for
beneficiary assets and low value assets)
J GENERAL REVIEW
J.1 Create, check and execute recurring entries (if any). Pre-paid ME21N (Create PO)
expenses entered in the vendor's account and not in MM need MIGO (Goods Receipt)
to be expensed as the service is incurred. MIRO (Invoice
Receipt) FB60 if
outside MM

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 Checklist for Monthly Accounts Closure (CAC)
Effective 1 January 2017
Completed
Procedures T -code
Y or N
J.2 Review vendor items to check if transactions/residual balances
are recorded to the correct GL account (2xxxxx for payables,
ZAPA/ FBL1N
15xxxx for advances/ down-payments / receivables and 175010
for guarantee deposits).
J.3 Post parked documents related to the closing month ZPARK_DOC/FBV0

J.4 Review the vendor change log against the vendor change
ZXK04
requests file
J.5 Review the asset change log to ensure validity of changes made
ZACL
to assets
J.6 Review validity of staff and local vendor accounts to ensure that
there are no duplicates and only valid vendors have active
accounts in PRISM. All invalid and duplicate vendor accounts
ZVL/FBL1N
needs to be blocked or deleted.
Note: Before blocking or deleting, ensure that vendor balance is
zero
J.7 Review self-payer project reports and ensure that revenue is
posted against correct level of WBS (5th level) in the month of ZCJI3
departure
J.8 Analyze project balances and advise the CoM/PM of any possible various project reports
deficit so corrective action can be taken (e.g. ZDSR, ZLI, etc)
J.9 Advise PCST mailbox of any change in project management (for
Outside PRISM
PRISM data update)
J.10 Advise Revenue mailbox of any payment request/invoice
Outside PRISM
submitted to donor (for receivable set up and revenue accrual)
J.11 All recorded transactions, with full supporting documentation,
Outside PRISM
have been duly approved and filed
J.12 Check that payroll for the month has been accurately posted.
Annex 1
Refer to Annex III for more detailed process steps
K AFTER MONTH END CLOSURE
K.1 Send signed copy of this checklist to your RAF via email as soon
as the accounts closure is completed. This serves as the Outside PRISM
notification of accounts closure completion
K.2 Send the required accounting return documentation, duly Outside PRISM
verified and certified (signed), to your RAF within 10 working (Monthly accounts
days after the end of the month submission form)

This checklist should be performed every month. It is very critical that the published closing dates are respected and
that no further postings are allowed beyond the published closing dates.

Prepared by: _______________________________________ Date:

Reviewed by:_______________________________________ Date:

RRMO / RMO / RMA

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 Checklist for Monthly Accounts Closure (CAC)
Effective 1 January 2017

PAYROLL CHECKLIST
Completed
Procedures T -code
Y or N
L Payroll Checklist
Includes procedures from PRISM HR and PRISM FI to facilitate payroll processing
L.1 Check and update HR master data and ensure that all are
properly maintained reflecting current month's activities
PA30, PA40, PA70
such as appointments, transfer, promotion, change
Z_PA_REPORT
entitlement, contract extensions, step increases, ZIOM_HRPA_CONTRACT
dependents, etc. Issue, sign and store Personnel Action
and/or contract for all changes as necessary
L.2 Run actual payroll for the month PA03
PC00_MUN_CALC
L.3 Run payroll reports and verify the results:
* Check that all staff are bonafide employees and ensure
accuracy of the payments and deductions
* Compare current month's payroll results with previous ZPAYROLLREPORT
month and ensure that all variations are fully accounted PC00_M99_CWTR
for ZIOM_CIPE
* Check that the cost distribution/projectization are ZJV
correct and in accordance with CoM/PM/RMO
instructions (or they are to be verified by
CoM/Finance/RMO)
L.4 Simulate bank file PC00_MUN_CDTA
PC00_M99_FPAYM
*ZHRPAYIS (if the Office
is using S2B in PRISM HR
Payroll)
L.5 Simulate posting to accounting. Ensure that net pay from
the accounting file reconciles the amount to be paid as ZIOM_CIPE
per bank file
L.6 Finalize payroll run (exit payroll) once C, D and E are
thoroughly verified to be correct PA03

L.7 Sign-off final payroll results and salary projectization to ZPAYROLLREPORT

document payroll approvals (CoM and RMO approvals are PC00_M99_CWTR
mandatory!) ZJV
L.8 Generate actual bank file (live run) PC00_MUN_CDTA
PC00_M99_FPAYM
FDTA
* ZHRPAYI (if the Office is
using S2B in PRISM HR
Payroll)
L.9 Post payroll entries to accounting (live run) ZIOM_CIPE
PCP0
L.10 Record actual salary payment FB50

Prepared by: _______________________________________ Date:

Reviewed by:_______________________________________ Date:

RRMO or RMO or RMA

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