This PDF elaborates about steps for closing Period – MM FI-CO i.e.
• MMRV - Allow posting to previous period
• MMPV - Close Periods
• OB52 - Change view "Posting Periods: Specify Time Intervals"
• OKP1 - Maintain Period Lock
MMRV – View current period / Allow posting to previous period
This transaction allows you to view current period and change setting for posting to previous period.
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MMPV - Close Periods
In MMPV you can execute period closing up to the end of the current fiscal year. The period closing program updates the administration record, thus ensuring that the stock data of the material master are updated.
If, for example, you want to close yo ur periods up to 03/2013, you are not allowed to post values in 01/2013. Therefore, if you still want to make postings in period t, you should execute period closing only for a maximum of t+1 period.
OB52 - Change view "Posting Periods: Specify Time Intervals": Overview
In this activity, you close the posting periods for FI-AA and open the new periods for FI-AA. No more FI-AA postings can be made to the previous period. Postings for the future periods are allowed.
OKP1 - Maintain Period Lock
If needed, unlock period for CO transaction.