This is one of the basic steps in the period –end process to Open the next periods in General ledger

and Sub ledgers .You can open the period 2 or 3 days before the next month and the time and date depends on your specific Requirement. Period end process depends up on report requirement of the country, management, Investors but the Oracle application period closing procedures almost similar in all countries. If you are opening the new period in your next calendar year, Oracle transfer of all Revenue and Expense account balances to retained earnings. The program then sets the beginning balances for these accounts to zero for the first period of the New Year. You should book all your transactions in the current month before closing the month. If your company is publishing the quarterly earnings to the Investors and to the media, make sure that you have followed your management guidelines for booking last minute transaction. You need to reconcile your sub ledger to GL .Once the sub ledgers are reconciled to GL and close the sub ledgers. This will prevent the user to enter any transactions in the previous period, In the AR Module, you can put in close pending period, This will prevent the user to post any entries in the previous period and once you reconciled and transferred all AR Transaction to GL and close the AR period. In GL Post all journals, enter all the adjusting journals and recurring journals. (This again depends on your specific requirement). Run your Required reports and Close the periods. AP Period Closing. 1) Enter all invoices for the period on the last day of the month. 2) Validate Invoices at end of the day 3) Confirm all Payment Batches 4) Run Accounting Process & Transfer to the GL 5) Post all AP Journals in the GL 6) Run the AP Trial Balance and reconcile this balance to the AP Trade Account Balance in the GL. These should match. 7) Open Next Period in AP 8) Close Current AP Period and sweep open transactions to the Next Period. Close the old accounting period. If there are incomplete transactions that prevent from closing the payables accounting period, run and review the Period Close Exception Report and fix the exceptions. . If the close is not successful, then Sweep unaccounted transactions to the next accounting period using the Unaccounted Transactions Sweep Program. The availability of this functionality is dependent on whether any of the following conditions exist: - Outstanding payment batches in the period being closed - Unaccounted transactions - Transactions not transferred to the GL

Complete the final Lockbox Process 3. 16. Complete or delete 'All' incomplete transactions 9. If found approved or reject. Review the Journal Entries reports for 'unusual' accounts and correct as needed.Trial Balances Process Month-End Adjustments Entries . Income Statement and Trial Balance2 Close the GL Period .Recurring Journal Entries as needed Run Balance Sheet. Post GL batches 15. Complete the manual invoices. Open the next accounting period in Oracle Receivables GL Period Closing Post all Journal Batches and ensure that they post successfully Reconcile Payables and Receivables Activity to the General Ledger Run the Preliminary Reports . Close accounting period in Oracle Receivables 18. Run the final post to General Ledger. 14. 8. Run the Journal Entries Reports. Run the Receivables Reconciliation Report to make sure that you balance with receivables. 6. Run the final AutoInvoice Interface 5. Reconcile Accounts Receivable balances to General Ledger.Run the Incomplete Invoices Report and Invoice Exception Report to identify all incomplete transactions 7. (if possible have someone in GL also verify) 11Run the Unposted Items Report to verify that all transactions have been transferred to GL 12.verify that there are no unposted items. Confirm that there are no unapproved adjustments. 10. 13. 17. Run the unposted items report . credit memos & corrections for the period 4. Correct all the Autoinvoice rejects and re-run.AR Period Closing: 1. Complete the manual payments and adjustments for the period 2.

Reconcile Bank Statements 3. Review and Post Journal Entries 10. Perform the Bank Reconciliation General Ledger 1. Assign All Assets to Distribution Lines 3. Run Transactions Available for Reconcilaition Report 8. Resolve Un-reconciled Statement Lines 9. Consolidate Sets of Books (Optional) 14. Ensure the Next Accounting Period Status is Set to Future Entry 2. Run the Account Analysis Report for the General Ledger Cash Account 11. Create Miscellaneous Transactions 4. Review AutoReconciliation Execution Report 5. Resolve Exceptions on the AutoReceonciliation Execution Report 6. Review and Verify Journal Details of Unposted Journal Entries 9. Review the Account Analysis Report 12. Rollback Depreciation and/or Rollback Journal Entries (Optional) 7. Run Depreciation 5. Correct any Invalid Entries to the General Ledger Cash Account (Optional) 13. Generate Mass Allocation Journals (Optional) 8. Run Calculate Gains and Losses (Optional) 4. Create Deferred Depreciation Journal Entries (Optional) 8. Complete Non-Oracle Sub-ledger Interfaces to Oracle General Ledger (Optional) 5. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3. Upload Journals from ADI (Applications Desktop Integrator) to Oracle General Ledger 4. Run Responsibility Reports (Optional) 12. Depreciation Projections(Optional) 9. Review and Correct Balances (Perform Reconciliations) . Load Bank Statements 2. Run General Ledger Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) 11. Create Journal Entries 6. Archive and Purge Transactions (Optional) Cash Managment 1.Assets 1. Translate Balances (Optional) 13. Reconcile Oracle Assets to Oracle General Ledger Using Reports. Revalue Balances (Optional) 12. Run the GL Reconciliation Report 10. 11. Generate Recurring Journals (Optional) 7. Post All Journal Batches 10. Run Bank Statement Detail Report 7. Generate Reversal Journals (Optional) 6. Complete All Transactions for the Period Being Closed 2.

17. Perform Year End Encumbrance Processing. (Optional) 11. Review the Current and Future Commitments (Optional) 3. Reconcile to Inventory 9.Perpetual Accruals 10. 13. 18. Complete the Oracle Payables. Run Standard Period End Reports (Optional) Inventory/WIP 1. 19. Follow Up Outstanding Invoices 7. Review and Correct Order Exceptions 8. Follow up Receipts-Check with Suppliers 5. Review Backorders 7. Identify and Review Un-invoiced Receipts (Period End Accruals) 6. 20. Enter Adjustments and / or Accruals and Post Perform Final Adjustments Close the Current Oracle Gneral Ledger Period Open the Next Oracle General Ledger Period Run Financial Reports for the Closed Period Run Reports for Tax Reporting Purposes (Optional) Perform Encumbrance Year End Procedures (Optional) Purchasing 1. 21. Check Inventory and Work In Process Transaction Interfaces.Period End Process 9. Review the Outstanding and Overdue Purchase Orders (Optional) 4. Reconcile to Receivables (Optional) . Close the Current Inventory Period 10. Ensure all Interfaces are Completed for the Period (Optional) 3. Complete All Transactions for the Period Being Closed. Transfer Summary or Detail Transactions Close the Current Oracle Payables and Oracle Purchasing Periods 8. Review Held Orders 5. 9. Check Oracle Order Management Transaction Process. 5. Balance the Perpetual Inventory. Reconcile Accounts . 2.15. Open the Next Purchasing Period. Review Discounts 6. 16. Run Receipt Accruals . 12. Complete All Transactions for the Period Being Closed 2. Review Inventory Transactions. 4.Period End Process 8. 3. Run Standard Period End Reports (Optional) Order Management 1. Open the Next Inventory Period 11. 7. Validate Work In Process Inventory. 6. Complete All Transactions for the Period Being Closed 2. Close the Current Purchasing Period. Review Open Orders and Check the Workflow Status 4.

10. Run Standard Period End Reports .