Hi Thirupathi,
Yes you can run actual settlement of project/wbs/network t code -CJ88.
Created an asset for the WBS element in th project builder where the rule will be generated automatically.
Path: Goto Menu> Edit > WBS element> Investment programs>Create complete asset.
Else create an Asset using AS01 and maintain the rule manually for the WBS element.
Now go to CJ88 T-code: enter your project number or wbs element with settlement period, year and PROCESSING TYPE "FULL SETTLEMENT".
Execute the transaction, the costs are settled from AUC to Asset.
Normal there is no need to change the status of WBS to TECO for final settlement.