ORACLE FINANCIALS E-BUSINESS SUITE, RELEASE 12

PERIOD-END PROCEDURES An Oracle White Paper June, 2009

Oracle Financials E-Business Suite, Release 12 Period End Procedures

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Introduction
Background
This document has been put together by members of Oracle's internal EMEA Financials Professional Community, acknowledging that every Financials customer needs to successfully close the accounting books each period. Before the first external publication, various people from EMEA Applications Consulting and Financials Product Development have reviewed and enriched the content. If you have any comments or feedback, please read the paragraph ‘Status and Feedback’ below.

Objectives
This document provides guidance on period end procedures in Release 12 for Oracle Payables, Oracle Purchasing, Oracle Inventory, Oracle Order Management, Oracle Receivables, Oracle Assets, Oracle Projects, Oracle Cash Management, Oracle Treasury and Oracle General Ledger. It is intended to be generic, and does not relate to a specific organization. Both mandatory and optional steps are included herein. Procedures particular to year-end processing are also described. This document intends to provide a reference for planning period-end procedures for ‘real-life’ implementations. It describes the fundamental period-end steps involved for each, with particular emphasis on balancing the subledger applications to Oracle General Ledger, and attempts to provide an overview of the relative timing of these procedures for all installed Oracle applications. It is therefore the intention of this document to provide content from which relevant sections can be extracted, according to the applications installed for a particular organization. Any organization may choose to customize their period-end and yearend processes, for example opting to run additional reports, particular to the organization. Although this document particularly refers to ‘Period-End Procedures’, many of the processes can be performed more regularly throughout the accounting period, as required. Each subledger application provides control as to when and how often data is transferred from the subledger application to the General Ledger.

Assumptions
These ‘Period-End Procedures’ were written with the assumption that Oracle Financials was implemented for a single operating unit. Where an organization has implemented the ‘Multi-Org’ features of Oracle Financials, these procedures would need to be performed for each operating unit individually unless Multi-Org Access Control is enabled. Note: R12 requires multi-org functionality to be used. For further details refer to Oracle® Applications Upgrade Guide: Release 11i to Release 12 Oracle Workflow is incorporated in the Release 12 applications. It is assumed that these Workflow Processes will be monitored and attended to by a System Administrator on a regular basis. Some Workflow Processes like the Requisition Approval Workflow or the Purchase Order Approval Workflow will require a direct response from a message recipient rather than a System Administrator.
Oracle Financials E-Business Suite Release 12 Period End Procedures

Organization
This white paper contains twelve chapters and one appendix where you can find interesting links to more information. The first chapter describes the dependencies between the modules and the biggest change between Release 11i and Release 12, which is the introduction of Subledger Accounting (SLA). Then, the next ten chapters outline period-end procedures appropriate to the Oracle Applications covered in this document. The last chapter displays a summary of the main period-end procedures for each application and the relative timing of each.

Attention: If you are using more than one application, the last chapter is a good reference to see that the order of the steps for each application are undertaken in the right sequence, relative to the other applications you are using.

Status and Feedback
This white paper is intended to be a living document. As we gather new or changed information, we will revise and re-publish this paper. Therefore, we welcome all feedback from you. On the bottom of the My Oracle Support note where you have downloaded this document is a link where you can email us your comments.

Oracle Financials E-Business Suite Release 12 Period End Procedures

Table of Contents
INTRODUCTION ....................................................................................................................................................................... II CHAPTER 1 SLA AND PERIOD END CLOSE DEPENDENCIES ..................................................................................................... 8

Sub Ledger Accounting (SLA) – Business Process ............................................... 8 Sub Ledger Accounting (SLA) – Process Change ................................................ 8 Subledger Accounting (SLA) – Reconciliation..................................................... 9 Subledger Accounting (SLA) Close Process – General Steps .............................. 10 General – Period End Close Dependencies ...................................................... 11
CHAPTER 2 ORACLE ORDER MANAGEMENT ......................................................................................................................... 12

Business Requirements ................................................................................... 12 Procedures ................................................................................................... 12
1. Complete All Transactions for the Period Being Closed ...........................................................12 2. Ensure all Interfaces are Completed for the Period (Optional)..................................................13 3. Review Open Orders and Check the Workflow Status..............................................................14 4. Review Held Orders...................................................................................................................14 5. Review Customer Acceptances (Optional) ................................................................................15 6. Review Discounts ......................................................................................................................15 7. Review Backorders ....................................................................................................................15 8. Review and Correct Order Exceptions.......................................................................................16 9. Reconcile to Oracle Inventory....................................................................................................16 10. Create Service Contracts (Optional) ........................................................................................16 11. Reconcile to Oracle Receivables (Optional) ............................................................................17 12. Run Standard Period End Reports ...........................................................................................17
CHAPTER 3 ORACLE CASH MANAGEMENT ........................................................................................................................... 18

Business Requirements ................................................................................... 18 Procedures ................................................................................................... 18
1. Complete Daily Cash Management Activities ...........................................................................18 2. Load Bank Statements ...............................................................................................................18 3. Generate Sweep Transactions ....................................................................................................18 4. Create Bank Statement Cashflows .............................................................................................19 5. Reconcile Bank Statements........................................................................................................19 6. Create Miscellaneous Transactions............................................................................................19 6a.Complete Bank Transfers..........................................................................................................20 7. Review Auto-Reconciliation Execution Report.........................................................................20 8. Resolve Exceptions on the Auto-Reconciliation Execution Report ..........................................20 9. Run Bank Statement Detail Report............................................................................................20 10. Run Transactions Available for Reconciliation Report ...........................................................20 11. Resolve Un-reconciled Statement Lines ..................................................................................20 12. Post to General Ledger.............................................................................................................21 13. Run the GL Reconciliation Report...........................................................................................21 14. Run the Account Analysis Report for the General Ledger Cash Account ...............................21 15. Review the Account Analysis Report ......................................................................................21 16. Correct any Invalid Entries to the General Ledger Cash Account (Optional) .........................21
CHAPTER 4 ORACLE PAYABLES ............................................................................................................................................ 22
Oracle Financials E-Business Suite Release 12 Period End Procedures

.......................................................................................................36 8.................................................... Reconcile Cost Distribution Lines with General Ledger (Optional)................................................................ Run the Key Indicators Report (Optional) ...................................37 10............................................ Advance the PA Reporting Period (Optional) ......30 CHAPTER 5 ORACLE PROJECTS ........38 15............................................................................................................... Generate Invoices...... Open the Next Oracle Projects Period ...32 General Exception Handling at Period End ...............................................................................................................34 5.................................................................................................................................... Run Generation Revenue Accounting Events Process..26 10...........................................................24 6...................................................... Permanently Close the Oracle Projects Period (Optional) ............ Complete All Transactions for the Period Being Closed .....................33 2..25 7.................................................42 Oracle Financials E-Business Suite Release 12 Period End Procedures ............................. Review and Release Revenue for All Projects.................22 2...........................34 6................................................. Run Create Accounting to Process Revenue Accounting Events ...............33 4................................................... Review and Resolve Amounts to Post to the General Ledger .......................................................................................39 20..........25 8............. Accrue Uninvoiced Receipts.. Generate Draft Revenue for All Projects .................................. 40 Business Requirements ................................................................... 40 1..............................................37 11................37 12............ 33 1........................................... Reconcile Oracle Payables Activity for the Period ........................................26 11........................32 Period Statuses ..................33 Procedures ...................39 18........ Restore Access to User Maintenance Activities ........................................................................................................23 3............................ Update Project Summary Amounts.. .................. Close the Current Oracle Payables Period .....29 14......... 32 Project Periods and General Ledger Periods....................................... Complete all Maintenance Activities.............. Change the Current Oracle Projects Period Status from Pending Close to Closed . Reconcile Payments to Bank Statement Activity for the Period............................................ Run Maintenance Processes............................... Run the Generate Cost Accounting Events Program .........40 2........................................................................................................................................................................................................................... Interface Cost Transactions to Other Applications .......................................................................................................... 22 1........................................................................................................................................................................................ Review the Payables to General Ledger Posting process After Completion............ Change the Current Oracle Projects Period Status from Open to Pending Close...... Run Final Project Costing and Revenue Management Reports ............ Complete All Transactions for the Period Being Closed ....................................................... Run Reports for Tax Reporting Purposes (Optional)................................ Reconcile Outstanding Customer Balances .........26 9......................................................... Run the Payables Approval Process for All Invoices ................................39 CHAPTER 6 ORACLE RECEIVABLES....................................................................................................................... Open the Next Oracle Payables Period .......................................................................29 12..........................................................................24 5................. Transfer All Approved Invoices and Payments to the General Ledger.....................29 13...................................37 9................39 21...38 16......................................................................................................38 17.................. Submit the Unaccounted Transactions Sweep Program ..............................37 13.......................35 6a............. Transfer Invoices to Oracle Receivables............................................................................................................Business Requirements ...............23 4.........................................................................................................................................33 3.......................................................................................... 22 Procedures ............................36 7........................ 40 Procedures .................... Run the Cost Distribution Processes.................................. Run Period Close Exceptions and Tieback Reports ..... 32 Business Requirements ................ Run Mass Additions Transfer to Oracle Assets ..............................40 3............................39 19.................... Complete All Transactions for the Period Being Closed ..................................................................................................... Reconcile Transaction Activity for the Period......................37 14............

................55 13.......................................... Close the Current Oracle Purchasing Period.............................. 64 Business Requirements .......................................... Complete the Oracle Payables Period-End Process ..........................................................................................61 8.................................................... Check and fix pending Transactions................................................................. Identify and Review Un-invoiced Receipts (Period-End Accruals) ........48 3..46 17.63 CHAPTER 9 ORACLE ASSETS.....53 11...................... Review the Outstanding and Overdue Purchase Orders (Optional)....................................................... Open the Next Oracle Receivables Period ........................... Review the Current and Future Commitments (Optional)............................. Run Reports for Tax Reporting Purposes (Optional).................. Close the current Oracle Payables and Oracle Purchasing Periods........................ Reconcile Posted Journal Entries.....45 12............................45 10.........61 7........................................................................................................................... 64 1......46 14............................... Run the Receipt Accruals ............................................46 13............................................................................................61 6...................... Reconcile Receipts to Bank Statement Activity for the Period ...........................43 5........................................................... Reconcile the Journal Import Process ............... Run Standard Period-End Reports and reconcile the Perpetual Inventory with GL ...62 9....... Close the Current Oracle Receivables Period ........... Open the Next Oracle Purchasing Period ................64 3.......... Validate the Work in Process Inventory ...........50 9............................................................................................. Run Calculate Gains and Losses (Optional) ................................................................................... Review the Unapplied Receipts Register....................................................................................44 8.............. Follow Up on Outstanding Invoices .........................65 Oracle Financials E-Business Suite Release 12 Period End Procedures ....................................................... Close the Current Inventory Period........55 CHAPTER 8 ORACLE INVENTORY-COST MANAGEMENT.....60 3........................................................................... Review the Unposted Items Report .................... Complete All Transactions for the Period Being Closed ...............................................................4..................................................46 16.49 5..................................................................................................................................................................................................44 9........ Third Party Balances Report ........ Reconcile the General Ledger Transfer Process ............... Check Inventory and Work in Process Transaction Interfaces ................................47 CHAPTER 7 ORACLE PURCHASING .............. 59 1................................................................................................ 64 Procedures .........64 2................................................................ 48 Procedures .......................59 2........ 59 Procedures ......49 7......................................64 4............................................................................................................................................. Open the Next Inventory Period .......... 48 Business Requirements ................................................ Follow Up Receipts .......................................................................49 8.......................................................................................................................... Perform Year End Encumbrance Processing (Optional) ................................................60 5......................................................................................................Period End Process ...........Perpetual Accruals ....................................45 11.................. Reconcile Receipts......................................................................................................... Review Account Analysis Report .................................. 59 Business Requirements . Complete All Transactions for the Period Being Closed ..................................................50 10.....................................................................................49 6.......... Run Depreciation ........................... Reconcile Accrual Accounts ................................................................................................43 6........................ Print Invoices .....46 15........................................................................................................................................... Complete All Transactions for the Period Being Closed .............................................................. Transfer Summary or Detail Transactions ..........49 4................................................44 7...............................................60 4.............................................................................................................48 2..........55 12.............................................47 18............................................................................... Review the Subledger Period Close Exceptions Report .................................................................................. 48 1.................... Assign All Assets to Distribution Lines..........................................................................................................................................Check With Suppliers ......................................... Run Standard Period End Reports (Optional)............ Post to the General Ledger......................................................

.....................................73 9........................................................................................................ Close the Current Oracle General Ledger Period.......72 2................................................................................................................79 CHAPTER 12 PERIOD END PROCESSING .... Open the Next Oracle General Ledger Period ......... Consolidate Ledgers (Optional) ...70 CHAPTER 11 ORACLE GENERAL LEDGER ........................................................... Depreciation Projections (Optional) ................................................73 7.............................................75 10.....................................................................................................5.............................................75 13a.......................69 3.....77 14............................................ Enter Adjustments and / or Accruals and Post........................................................................................................................... Perform Final Adjustments .................................................................................................................................................................................................................................................................................................................................................................... Translate Balances (Optional).......................75 11..............................................................................78 17..................................................................... 87 Oracle Financials E-Business Suite Release 12 Period End Procedures .......................................................................... Reconcile Oracle Assets to the General Ledger Using Reports...........................................SUMMARY .................... Review and Correct Balances (Perform Reconciliations)................................................ Post All Journal Batches ....................................67 11......74 9a.. Create Deferred Depreciation Journal Entries (Optional).................. Run the Period Close Exceptions Report .............. 69 1....68 CHAPTER 10 ORACLE TREASURY ............................................................................77 15............................................................................................................ Perform Revaluation ......................................................................................78 19............................................................................................................................... Generate Mass Allocation Journals (Optional)........................ 82 APPENDIX: MORE INFORMATION ..............................................................75 12......................................................................................................71 Combined Basis Accounting..........................................................................66 8........ Perform Encumbrance Year End Procedures (Optional) .......................................................73 8.................................................... 87 Related My Oracle Support Information..........65 6.................69 2...........73 5...............................66 7.......... Complete Daily Trading Activities ............................. 69 Procedures ........ Run Financial Reports for the Closed Period....................67 10.....................................................78 16........................................................................................... 71 Period End Close...............................................................................................................................79 21.........................................................................................69 4...................................................................................... Complete Non-Oracle Sub-ledger Interfaces to Oracle General Ledger (Optional: only required if you want to post from non-Oracle systems) ..................................................................... Create Accounting..........................................................................................71 Procedures .......72 4........................... 71 1.................................. Generate Reversal Journals (Optional) ...........................................................78 18........................................75 13.......................... Rollback Depreciation......................................................................... Reconcile Intercompany (optional) ............................................................. Review and Verify Journal Details of Unposted Journal Entries .................. Review and Post Journal Entries..72 3............ Generate Accruals and Amortization ...66 9.............................................. Run Responsibility Reports (Optional)..... 69 Business Requirements ............................................ 71 Business Requirements .........................................................................................................................................73 6....................................................... Transfer Journals to General Ledger...................................................................70 5. Run Reports for Tax Reporting Purposes (Optional)................... Generate Journals.................. Generate Recurring Journals (Optional) ............................. Revalue Balances (Optional) .......................... Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) ........................................... Upload Journals from Web Applications Desktop Integrator (Web ADI) to Oracle General Ledger (Optional)...........................79 20........... Complete Oracle Sub-ledger Interfaces to Oracle General Ledger..................................... Ensure the Next Accounting Period Status is set to Future Entry..............................

Subledger Accounting offers a new model between the subledgers and GL. Subledger Accounting provides a comprehensive view of all subledger accounting data. so that you can maintain a simple chart of accounts and store only what is needed for GL reporting and analysis. It behaves like a detailed version of your general ledger and provides a rich store of information for reporting and analysis. you can go directly to Subledger Accounting to see the detail from all transaction sources that feed the GL account balance without having to go back to multiple source systems and applications. Whenever you want to account for your subledger transactions. • The moment you need to access more detailed information. • It allows your general ledger to be free of extraneous data. Sub Ledger Accounting (SLA) – Process Change Due to the impact of the Subledger Accounting Architecture the close process has changed between Release 11i and Release 12. Oracle Financials Release 12 Period End Procedures 8 . for internal and external audit purposes.Chapter 1 SLA and Period End Close dependencies Sub Ledger Accounting (SLA) – Business Process The new Subledger Accounting architecture in Release 12 provides a common repository of all your accounting information. online or as a background batch process. Subledger Accounting stores subledger balances and subledger journals for all of your subledgers that require accounting. and for ease of drilldown. Subledger Accounting helps to maintain a common link between General Ledger (GL) balances and underlying transactions automatically. the accounting is generated by Subledger Accounting. • Just as Oracle General Ledger stores balances and journals.

You can still reconcile transaction reports to accounting reports. When you close a period in Release 12. you’re actually closing subledger accounting. Oracle General Ledger will automatically create the balancing lines for journals posted to General Ledger. The new accounting reports in Release 12 now also contain more comprehensive information . there is no reason to reconcile distributions on transactions to the general ledger.not just on balances but also on suppliers. you reconciled transactions and distributions to the general ledger through transactional reports. you should ignore distributions in Release 12. In Release 11i. the subledger accounting becomes the single source of truth for accounting reconciliations. The point to note is that when you do account balance reconciliation. This changes in Release 12 as subledger accounting creates the balancing lines at the time you account for the subledger transactions. In Release 12. the balances are displayed but not the transactional information. when you close your periods in each of the subledgers. In Release 12 however. In the accounting reports in Release 11i. especially if you have altered your subledger accounting rules. In Release 11i. The reason is that subledger accounting enables you to change the accounting for transactions so it is different from the default accounting. distributions on transactions in subledgers are considered to be the default accounting and should therefore not be used for reconciliation purposes.In Release 11i the transactions and distributions represented the accounting. Therefore. The journals can then be posted to the general ledger to update the GL balances. Differences between R11i and R12 Subledger Accounting (SLA) – Reconciliation From a reconciliation perspective the picture below shows what has been changed between R11i and R12. Oracle Financials E-Business Suite Release 12 Period End Procedures 9 . customers and transactions. The subledger accounting journal represents your REAL accounting and the balancing lines are created as part of these subledger accounting journals.

as it is an SLA feature. is that the accounting is not the distribution on the transaction. you need to ensure that all your accounting for your transactions is created before you post to General Ledger. Therefore. as a batch job at a time that matches your business needs. how you can perform the close process for every subledger: a) Complete transactions b) Create accounting c) Reconcile transactions d) Post to General Ledger e) Reconcile accounting f) Close period Step b). Create Accounting. Oracle Financials E-Business Suite Release 12 Period End Procedures 10 . from a general perspective. is a new step in Release 12.g. The final accounting by SLA could result in different accounting entries being generated based on the accounting rules you have configured.Reconciliation between R11i and R12 Subledger Accounting (SLA) Close Process – General Steps Here are some guidelines. or can be run as a process in the background e. The accounting can be created immediately online. in order to update the balances correctly. The important thing to note.

General – Period End Close Dependencies Before you start with the Period-End process you have to know what the dependencies are between the various modules as described in this document. The diagram above shows the dependencies between some of the main Financials products and a couple of supply chain products. You also need to close Oracle Payables before you close Oracle Inventory and Oracle Assets. you have to close Oracle Payables before you close Oracle Purchasing to account for purchasing accruals at period end. you close all of your subledgers before you close General Ledger. Finally. as bank reconciliation in Cash Management will create miscellaneous receipts in Oracle Receivables and so forth. For example. Oracle Financials E-Business Suite Release 12 Period End Procedures 11 . You actually have to close Oracle Cash Management before you close Oracle Receivables.

confirm that service contracts for warranties and extended warranties have been created Close orders * Closing orders that are complete enhances performance. * Close lines and close orders are implemented using workflow. Orders marked as closed are not selected. respectively. Procedures The following steps are taken in performing period-end processing for Oracle Order Management. Complete All Transactions for the Period Being Closed Ensure that all transactions have been entered for the period being closed Enter and book all orders Schedule orders Enter and book return material authorizations Run the Generate Pre-billing Acceptance Program for Pre-billing. windows and report queries retrieve open orders only. Order Management provides seeded close line and close order workflow sub-processes to close the order header and line. where possible. the creation of install base entries for shipments Confirm OM-shipping transaction for the period Sales order acknowledgments Cancel backordered included items Respond to workflow approval notifications Confirm that invoice interface (OM-> AR interface) has been completed Optionally. Closed orders are excluded from many of the standard reports available in Order Management. appropriate actions should be undertaken to finalize the Order Workflows and close these Sales Orders. since many programs. so reporting can be limited only to the active orders. 1. Business Requirements Open Sales Orders should be reviewed and. These processes. when included in the order header or Oracle Financials E-Business Suite Release 12 Period End Procedures 12 . Implicit Acceptance Confirm shipments and optionally. increasing system speed and efficiency.Chapter 2 Oracle Order Management This chapter describes the procedures for performing period-end processing in Oracle Order Management Release 12.

ensure that the processes calling the public API have completed. Order lines can close independent of each other. Alternatively. b) Run the Create Internal Sales Orders Process in Oracle Purchasing for all requisitions within the current period. the following processes need to be completed: a) Enter and approve all internal purchase requisitions in Oracle Purchasing. no lines can be added or changed. * The order header close order process checks at the end of every month to see if all the lines associated with it are closed. * Use the Order Import Correction window to examine the orders and optionally correct data if it fails the import process. Holds Effect on Eligible Lines * The close order and close line workflow activities will close order or lines if only generic holds are present . perform the above tasks for each operating unit. If you are using Oracle Purchasing to process Internal Purchase Requisitions. for which you can define processing constraints. they will not be closed by workflow activity. It closes the order header if it finds that all the lines are closed. Ensure all Interfaces are Completed for the Period (Optional) Ensure that all interfaces for the current period have been processed: Order Import from External Order Systems. Order Import from Oracle Purchasing for Internal Orders. no changes can be made to any fields except the descriptive flexfield.line workflow. Once an order line is closed. Attention: If MOAC is enabled for the Order Management responsibility. * If you are using external order processing systems for data entry of orders. Once an order is closed. close the status of the eligible order or lines. 2. Oracle Financials E-Business Suite Release 12 Period End Procedures 13 . Attention: Be sure to include the standard sub-processes of close line and close order at the end of all your line and order flows to ensure that your orders and returns close once all prerequisites have been met. use the Order Import to update Oracle Order Management from your external systems.If orders or lines have activity specific holds present. if you are using the Order Management public API to create orders. Use the Error Message window to determine if your data failed to import. Close Order Lines * An order line is eligible to close when it completes all of the line-level activities within the workflow process.

Use the Create Internal Sales Orders process to send requisition information from approved. requisition numbers. even if the Invoice Interface is an action in the order Workflow Definitions for the Internal Sales Order transaction type. 4. c) Run Order Import to create internal sales orders from internal requisitions. This is available through the View Diagram button. Attention: This process is only applicable for Order Workflow Definitions that include the Invoice Interface or Invoice Line processes. and internal requisition and internal sales order hold discrepancies. inventory-sourced requisition lines to the Order Management interface tables. you can access the Workflow monitor to see the order or line status in a more graphical format. ship to information. d) Run the Internal Order and Purchasing Requisition Discrepancy Report which displays the differences between the purchasing requisition entered and the actual items ordered during order entry. Internal orders do not go through the Invoice interface/ AutoInvoice process. for external orders. order numbers. From the status page. 3. Attention: Order Management does not process internal sales order lines for the Invoice Interface. Review Held Orders Run the following reports to assist with reviewing sales orders on hold: Oracle Financials E-Business Suite Release 12 Period End Procedures 14 . Then. as well as credit memos and credits on account created from returns. This process will ensure all shipped sales order information is transferred to Oracle Receivables when it reaches the appropriate point in the order workflow. The AutoInvoice Process updates Oracle Receivables for invoice and revenue information. the Order Import process is run from within Order Management to generate the internal sales orders. order date ranges. The Create Internal Sales Orders and Order Import processes can be scheduled to run automatically at specified intervals. scheduled dates. f) Invoice Interface / AutoInvoice. The Sales Orders window displays the order header status in the main tab of the Order Information tabbed region. e) Use the Order Import Correction window to examine the orders and optionally correct data if it fails the import process. The Workflow Status option on the Sales Orders window Tools menu launches the Workflow Status page. Use the Error Message window to determine if your data failed to import. Review Open Orders and Check the Workflow Status Use the Sales Orders Workbench to review open orders using the Advanced Tabbed Region to specify controls such as whether to find closed orders/lines and cancelled orders/lines. The order line status is displayed in the main tab of the Line Items tabbed region. items. This report includes all open and closed orders. The window shows in tabular format all the activities an order header or line has completed and the corresponding results. order types.

a) Orders on Credit Check Hold Report The Orders on Credit Check Hold Report identifies all of the credit holds currently outstanding for a customer within a date range. including price list price. order line. invoicing is carried out. This report displays the order number. the revenue recognition process is deferred and linked to customers accepting the shipped goods. a) Backorder Detail Report Oracle Financials E-Business Suite Release 12 Period End Procedures 15 . This report provides order level pricing information. including the factor for shipments and receivables for a certain number of days. and exceptions are clearly identified and reviewed and/or followed up. This report is automatically sorted by customer. c) Outstanding Holds Report The Outstanding Holds Report reviews order holds for the customer or customers you choose. b) Hold Source Activity Report The Hold Source Activity Report reviews holds placed and removed under a hold source during the time period you specify. Review Customer Acceptances (Optional) In Pre-Billing Customer Acceptance. Review Backorders Review backlogs and backorders to ensure that these items are current. 5. order number. and order number. ordered items. currency code. or identifies why a particular order is on hold. Order Management allows you to perform a credit check on customer orders and automatically places orders on hold that violate your credit checking rules. once the goods are accepted. This report indicates the date and the type of activity for each hold transaction. 6. including agreement. If necessary. and order amount for each order line on hold for each customer you select. All balances are calculated as they are using the online credit check rule. This report provides detailed line pricing information. In Post-Billing Acceptance. process cancellations for items/lines which are no longer required. salesperson and total order discount. and discount information. It is automatically sorted by customer. order date. 7. selling price. Review Discounts It is recommended that you review discounts processed as part of the order process to ensure appropriate discount policies have been followed. credit check rule. and then order line detail. b) Order Discount Summary Report The Order Discount Summary Report reviews discounts applied to orders. Use the following reports: a) Order Discount Detail Report The Order Discount Detail Report reviews discounts applied to orders by order line detail.

This report includes only open orders in an order cycle that includes pick release. or deleted as appropriate. These amounts involve totals for shippable items only. Review and Correct Order Exceptions The following reports should be reviewed. shipped and outstanding. return reason. 8. They may indicate incomplete processing. 9. Order Management automatically sorts this report by currency. and the monetary amounts ordered. This report also includes total amounts for customers and currencies. b) Backorder Summary Report The Backorder Summary Report lists all unshipped orders. last shipped date. completed. purchase order.The Backorder Detail Report reviews all customer orders that have been backordered. order number. order type. and exceptions corrected before completing the Order Management/Receivables period end: a) Unbooked Orders Report Use this report to review orders entered but not booked. total quantity both ordered and backordered. and then item. Reconcile to Oracle Inventory Run the following reports for reconciliation with Oracle Inventory: a) Backorder Detail Report b) Review Backorders (Already discussed under section 7. 10. It displays order information such as order number. and monetary amounts of both ordered and backordered quantities. all backordered items and their appropriate line numbers. which needs to be corrected. c) Sales Order Workflow Status Report The Sales Order Workflow Status Report enables Order Management users to locate orders that are not progressing through associated workflows as expected. b) Retry Activities in Error There are cases when retrying a workflow activity in error will not resolve the problem. When Exception Management encounters this situation. This report provides details for each order including customer name. customer name and number. order type of each order. Create Service Contracts (Optional) Run the Service Contracts Order Processing Concurrent request to create service contracts for extended warranties.) c) Returns by Reason Report The Returns by Reason Report reviews all return material authorizations for various return reasons. order date. the workflow activity is set to ‘notified’ instead of being retried. Oracle Financials E-Business Suite Release 12 Period End Procedures 16 .

Order Management prints in the report that no invoices exist for that order. or review cancellations by customers. quantity ordered. Reconcile to Oracle Receivables (Optional) Run the following reports to assist in reconciliation of orders invoiced in the period: a) Commercial Invoice (for all ship dates within the current AR period) The Commercial Invoice Report lists all confirmed shipped items in a delivery. review cancellations by salesperson. customer name. 12. Shipping Execution prints one commercial invoice per delivery within the trip. the date and reason the order or order line was cancelled. and invoiced and their potential commission. agreements. b) Order/Invoice Detail Report The Order/Invoice Detail Report reviews detailed invoice information for orders that have invoiced. and detailed sales credit information for lines in a selected range. The report displays all open and closed orders for a salesperson. This report displays the order and each order line associated with each salesperson. order numbers. the quantity ordered and the quantity cancelled. Oracle Financials E-Business Suite Release 12 Period End Procedures 17 . line type. Salespeople can use this report to see their current outstanding orders and their status. If there are no invoices for a particular order that meets the parameter criteria. and allows evaluation of the most common cancellation reasons. This report provides a summary of each cancelled order. A variety of parameters can be used to print the invoice information for a specific order or group of orders. cancelled. order date ranges. Implicit Acceptance.11. and who cancelled the order. Run Standard Period End Reports The following reports should be run each period: a) Cancelled Orders Report The Cancelled Orders Report reviews all orders that have been cancelled. shipped. including order number. This report can be used to report total amounts cancelled in a specified time-frame. If only a delivery name is specified when defining the parameters of this report. line number and item. b) Salesperson Order Summary Report The Salesperson Order Summary Report reviews orders for one or more salespeople. order types. This report shows open orders. c) Customer Acceptance Report Generate Pre-billing Acceptance Program for Pre-billing. customer or customer number.

Business Requirements Oracle Cash Management is an enterprise cash management solution that helps you effectively manage and control the cash cycle. Cash forecasting is a planning tool that helps anticipate the flow of cash in and out of the enterprise. based on the cash pool setup in the system. you can automatically generate system transactions to match banking information once the bank posts the sweeps. Load Bank Statements Detailed information from each bank statement. if necessary. cash pooling and flexible cash forecasting. Complete Daily Cash Management Activities Complete bank account transfers for the day. During the Bank Reconciliation process miscellaneous transactions can be created for bank-originated entries. Oracle Receivables and Oracle General Ledger.Chapter 3 Oracle Cash Management This chapter describes the procedures for performing period-end processing in Oracle Cash Management Release 12. run the Sweep Transaction Generation concurrent program. Refer to “Entering Bank Statements Manually” and “Loading Bank Statement Open Interface” in the Oracle Cash Management User Guide. bank. create Oracle Financials E-Business Suite Release 12 Period End Procedures 18 . and checks cleared needs to be entered into Cash Management. Once the bank statements are imported. Bank statements can be either manually entered or loaded electronically from information received directly from your bank. The Bank Reconciliation process enables the verification of entries on the Bank Statement by reconciling that information with system transactions in Oracle Payables. and send payment instructions to the bank. intra-bank account transfers. including bank account information. Generate Sweep Transactions If you have target balance or zero balance accounts (ZBA) with your banks. It provides comprehensive bank reconciliation. 1. validate them. The program will scan the bank statement for sweep lines and. allowing the projection of cash needs and evaluation of the company's liquidity position. 2. 3. bank branches & internal bank accounts setup. such as bank charges and interest. Procedures The following steps are taken in performing period-end processing for Oracle Cash Management. deposits received by the bank. For organizations with high transaction volumes bank statements should be loaded and reconciled on a daily basis.

This method is ideally suited for bank accounts which have a high volume of transactions. Once the bank statements are imported. Oracle Financials E-Business Suite Release 12 Period End Procedures 19 . which could not be reconciled automatically. Note: The automatic reconciliation process can be set up to create miscellaneous transactions automatically. which can be accounted for and subsequently reconciled. run the Bank Statement Creation concurrent program. Cash Management provides two methods to undertake reconciliations: a) Automatic Bank statement details are automatically matched and reconciled with subledger transactions. Reconcile Bank Statements Once detailed bank statement information has been entered into Cash Management.sweep transactions between your internal bank accounts. such as bank charges and errors can be created. Create Bank Statement Cashflows If you have recurring items such as bank fees and interest appear on your bank statement. 6. Create Miscellaneous Transactions During the reconciliation process. Refer to “Reconciling Bank Statements Manually” in the Oracle Cash Management User Guide. as defined in the Bank Statement Cashflow Mapping. 5. which can be accounted for and subsequently reconciled. and create cashflows. 4. Attention: If you create transactions during the reconciliation process. This program will scan the bank statement for specific codes. you will need to re-run the ‘Create Accounting’ routine from Oracle Receivables to ensure all information is transferred to the General Ledger. The manual reconciliation method can also be used to reconcile any bank statement details. b) Manual This method requires a manual match of bank statement details with subledger transactions. miscellaneous transactions for bank-originated entries. Oracle Payables payments or Oracle Receivables receipts can also be manually created. you can use the Bank Statement Cashflow Creation program to create system transactions (cash flows) to match banking information. the information must be reconciled with the subledger transactions. This method is ideally suited to reconciling bank accounts which have a small volume of monthly transactions. Refer to “Reconciling Bank Statements Automatically” in the Oracle Cash Management User Guide.

Available Payment. Cash Management automatically produces this report during the automatic reconciliation process. 7. Payment Method. over-reconciled and under-reconciled. and Available Journal Entries for reconciliation. 11. It does not list reversed receipts due to user error nor does it list the associated original receipts that were not reconciled.6a.Complete Bank Transfers Complete the bank account transfer whether it is manual or automatic and record the validation if required before completing the transfer. This report lists the details of any miscellaneous transactions that were created in Receivables during the automatic reconciliation process. 8. This report groups transactions by status so that void or reversed transactions are separate from other transactions. which prevented the automatic loading of your bank statement. reconciled. Resolve Exceptions on the Auto-Reconciliation Execution Report Resolve the exceptions on the Auto-Reconciliation Execution report by either rerunning the import process or by manually reconciling the exceptions. Currency. and reconciled transaction detail. This report lists any un-reconciled transactions separately with their current status. Transaction Date. 9. un-reconciled. It lists detailed transaction information for your Available Receipts. This report only lists void payments if the Show Void Payments option on the Systems Parameters window is checked. You may also request it as needed from the Submit Request window. or your reconciliation exceptions found during the automatic reconciliation process. Run Bank Statement Detail Report This report shows statement and transaction information for a specific bank account statement. Detailed information includes the Customer. and gives you the option to select only un-reconciled statement lines. and Amount. reviewing the reconciliation results is recommended. statement line detail. This report shows import and reconciliation errors that occurred when running the Auto-Reconciliation program. Transaction Number. Review Auto-Reconciliation Execution Report Once the reconciliation process has been completed. Oracle Financials E-Business Suite Release 12 Period End Procedures 20 . Supplier or Batch Name. Resolve Un-reconciled Statement Lines Resolve the un-reconciled statement lines by manually reconciling the statement lines to the available transactions. and the statement totals for each type of transaction. 10. including bank statement header information. This report includes either statement import errors. Run Transactions Available for Reconciliation Report This report shows all transactions available for reconciliation for a specific bank account. including the amount entered.

Oracle Financials E-Business Suite Release 12 Period End Procedures 21 . Review the Account Analysis Report Review the Account Analysis Report to ensure that only bank account related transactions have been posted to the General Ledger Cash Account by checking the Source of the transactions. In addition to creating final accounting entries. * Post journals in General Ledger. Attention: Final journal entries cannot be further modified in Cash Management. payments. The program creates and optionally transfers and posts journal entries to General Ledger. 16. 14. which were highlighted during the review of the Account Analysis Report. in which case draft journal entries will be created. If you do not transfer the journals to General Ledger immediately. To prevent invalid journal entries to the General Ledger Cash Account enable security rules appropriately. Run the Account Analysis Report for the General Ledger Cash Account Run the Account Analysis Report from General Ledger for the General Ledger Cash Account Flexfield and sort by Source. It also lists a separate adjustment amount for un-reconciled receipts. This report lists a balance and an adjusted balance for the bank statement. 15. Correct any Invalid Entries to the General Ledger Cash Account (Optional) Reverse or amend any journals incorrectly posted to the General Ledger Cash Account. and journal entries. Valid sources will include Payables and Receivables. you must first perform these tasks: * Reconcile all statements in Cash Management. as well as bank errors. Warning: To ensure that this report is accurate. 13. * Transfer journal entry transactions from Oracle Payables and Oracle Receivables to your General Ledger. Such journals cannot be transferred or posted to General Ledger. Transactions entered directly via General Ledger will have a Source of Manual or possibly Spreadsheet if Web Applications Desktop Integrator (Web ADI) is used. the program can be run in a draft mode. Please make sure you are satisfied with the draft journal entries before creating final accounting. you can later submit the "Transfer Journal Entries to GL" concurrent program. Post to General Ledger Create journal entries for eligible accounting events generated by Bank Account Transfers and Bank Statement Cash Flows by submitting "Create Accounting" concurrent program. if transfer from sub-ledgers was not in FINAL POST mode.12. Run the GL Reconciliation Report Use this report to reconcile the General Ledger cash account to a bank statement balance.

or you are using Internet Expenses or Xpense Xpress. and posting and report processing speed degradation caused by the sheer volume of posted transactions. Then. In Release 12 the detailed level of posting can be controlled by GL summarize options and also at SLA journal line type level. the system checks for unposted transactions in all operating units within the ledger. and reviewed all audit trails for completeness. there may be technical constraints involved. Where detail level accounting transactions are required to be posted to the General Ledger using sub-ledger accounting (hereafter referred to as SLA). The posting level for Oracle Payables must be determined when planning period-end procedures. If there are unposted transactions in any of the operating units. When you attempt to update the period status to ‘closed’ in one operating unit. the system asks you to Oracle Financials E-Business Suite Release 12 Period End Procedures 22 . Business Requirements Accounts payable activity must be reconciled for the accounting period that is to be closed. All of the operating units that share a ledger also share the same period statuses. relating to the physical data storage volume. When you update the period status to ‘open’ in one operating unit. The following steps are taken in performing period-end processing for Oracle Payables. so that the general ledger can remain “thin”. Subledger Accounting can contain all of the detailed subledger accounting level analysis. Subledger Accounting online inquiry and BI Publisher reports can be utilized to report and analyze balances. Completing all transactions for Oracle Payables: * Complete Invoices and Credits * Complete Prepayments * Complete Expense Reports * Complete Invoice Import * Complete Payments If you import transactions from an external system.Chapter 4 Oracle Payables This chapter describes the procedures for performing period-end processing in Oracle Payables Release 12. ensure you have imported all transactions. Complete All Transactions for the Period Being Closed Ensure that all transactions have been entered for the period being closed. One consideration for Accounts Payable where there are multiple operating units within the same ledger is that all operating units must be ready to close at the same time. Procedures 1. that period is opened for all operating units within the ledger. and their transactions.

resolve any identified holds which will prevent posting to the general ledger. you can produce a detailed or summary listing of the accounting information you want to review. transactions that have been accounted with error and all entries that could not be transferred to the general ledger. through one OU at a time. supplier name. If Multi-org Access Control is implemented. SLA groups the report by ledger. This report is owned by SLA. ledger currency. source. event type. The report also lists. Review and Resolve Amounts to Post to the General Ledger a) Review the Invoice on Hold Report This report enables review of any holds currently applied to invoices that would prevent the payment and/or posting of these invoices. b) Review the Journal Entries Report This report enables review and analysis of accounting entries in the Payables subledger. the report also lists those transactions which have been posted in the general ledger. and those which have not been posted but have been accounted. exception. document number. Using the report parameters. 2.resolve the un-posted transactions for those operating units before it allows you to close the period for the ledger. The report details all invoices that Oracle Payables cannot select for posting and therefore cannot create journal entries. so that they can be paid by Oracle Payments and posted to the general ledger. in detail. as accounted by SLA. Accounts Payable sorts the report by transaction type (invoice or payment). By altering the parameters. c) Review the Unaccounted Transactions Report This report enables review of all unaccounted invoice and payment transactions and a view of the reason that Payables cannot account for a transaction. You can then correct the problems and resubmit the accounting process. and voucher number. supplier. transaction currency. and event class. 3. category. review the details and make necessary changes. and then re-run the Payables Approval process to approve these invoices. Data is then sorted by accounting date. and transaction number. Note that this report does not include invoices that have no distributions. Run this report after you have run the Create Accounting Process. Run the Payables Approval Process for All Invoices Run the Payables Approval process to approve all unapproved invoices and invoice lines in the system. The report will then show only transactions that had problems that prevented accounting. d) Optionally run a Payment Process Request at the month end Oracle Financials E-Business Suite Release 12 Period End Procedures 23 . period closing can be performed across OU’s from a single responsibility. Where possible. When a transaction is accounted with errors.

including discounts. by payment number. A draft entry does not update balances and does not reserve funds. Use Oracle Payments to confirm any payment instructions. “Transfer Journal Entries to GL” program needs to be run from the Standard Report Submission (SRS) window. these two reports would not balance.By running a month end Payment Process request. Reconcile Payments to Bank Statement Activity for the Period Refer to Chapter 3 Period-End Procedures for Oracle Cash Management. make sure there are no errors reported on this report. The transactions that have been accounted in the Final Mode have been transferred to GL or can still be within the subledger based on the parameter Transfer to General Ledger (either 'Yes or 'No') in the Create Accounting program. If only verifying report totals. The transactions in draft accounting mode can be included on accounting reports but cannot be transferred to the general ledger. in ascending order. or finalize any outstanding payments. whereas the Posted Payment Register total is the total payment amount. This report can be used to review payment activity for each bank account used during the specified time period. Final Post and Draft. The Payment Instruction Register lists each payment created for a payment process profile or for a manual payment. e) Confirm all Payment Instructions Run the Payment Instruction Register for the period that is to be closed. Warning: The report total only shows the net (less discounts) payment amount. The report lists each payment in a payment process request. This report is automatically submitted when payment instructions are being created and can also be submitted from the standard report submission (SRS) screen. Attention: Oracle Payables prevents the closing of a period in which all payments have not been confirmed. When accounting mode is Final and transfer to GL is set to ‘No’ then. including setup and overflow payment documents. 5. Actual payments can be compared against this register to verify that Oracle Payables/Oracle Payments has recorded payments correctly. Transfer All Approved Invoices and Payments to the General Ledger Release 12 provides 3 modes of accounting: Final. and posted in the general ledger. 4. Therefore it is necessary to subtract the ‘Discounts Taken’ from the Posted Payment Register report total and then compare this calculated amount to the total displayed on the Payments Register Report. Please review the “Transfer Journal Entries to GL” report generated by this program. f) Optionally run the Payments Register The Payment Register details payments printed in a particular accounting period. Check the status of the Payment Process Request/Payments/Payment Instructions to ensure that all payments have been processed. you may create a payment for as many due invoices as possible. Oracle Financials E-Business Suite Release 12 Period End Procedures 24 . The transactions that have been accounted in Final Post have already been transferred to.

and your accounting practices allow you to change invoice Oracle Financials E-Business Suite Release 12 Period End Procedures 25 . Submit the Unaccounted Transactions Sweep Program The Unaccounted Transactions Sweep Program transfers unaccounted transactions from one accounting period to another. if your accounting practices permit it. The journal entries are posted in Oracle General Ledger to update account balances.SLA creates detail or summary journal entries for all eligible events when you post.e. Payment journal entries debit the liability account and credit the cash account of the bank account used to pay an invoice. Because you cannot close a Payables period that has unaccounted transactions in it. i. and can be used to review the payment activity for each bank account used during that period. The report lists each Accounts Payable Liability Accounting Flexfield and the invoices posted to the account. This report also provides any errors that may have occurred during generation of the journal entries. b) The Posted Invoices Register This report is used to review invoices for which information has been posted to Oracle General Ledger to create journal entries. and credit the liability account specified on the invoice. a) The Subledger Accounting Program Report generated by the Create Accounting program. for the period that is to be closed. Invoice journal entries debit the expense or other account entered on an invoice distribution line. This report provides either the summary or details (dependent on the parameters provided during Create Accounting program) of the subledger journal entries created as a result of running “Create Accounting Program”. 6. creating journal entries for these invoice and payment transactions. from Oracle Payables. Transfer to General Ledger was ‘Yes’ and Post in GL was set to ‘No’. you might want to use this program to change the accounting date of the transactions to the next open period. and can be used to verify that the total invoice amount equals the total invoice distribution amount. you have invoices for which you cannot resolve holds before the close. Review the Payables to General Ledger Posting process After Completion. 7. Posting is determined by the parameter ‘Post in GL’ which is set during Create Accounting. For example. The journal batch will be automatically posted in General Ledger if the mode of accounting was ‘FINAL’ and Post in GL was set to ‘Yes’. The Create Accounting process transfers data to the General Ledger tables. unless you have modified the SLA rules to create alternative accounting entries to address your specific business needs. Attention: The generated journal batch needs to be posted from within Oracle General Ledger if the mode of accounting was ‘Final’. the current accounting period. The following reports can be run to review the invoices and payments that were posted to Oracle General Ledger. c) The Posted Payments Register This report is used to review the payments posted to Oracle General Ledger during a particular accounting period.

Payables opens a message window. correct any accounting errors and resubmit the Create Accounting Process. This process automatically submits the Subledger Period Close Exceptions Report. 2.) • Sweep 3. From the window you can choose the following buttons: • Review (This submits the Period Close Exceptions Report. You can also generate the Subledger Period Close Exceptions Report through a concurrent request as follows: * For the application associated with the responsibility * For all applications in the General Ledger responsibility 9.distribution GL dates. 8. It is automatically submitted by General Ledger when closing a GL period if there are unprocessed accounting events or untransferred journal entries. Accrue Uninvoiced Receipts (Refer to Chapter 7 Period-End Procedures for Oracle Purchasing) 10. Close the Current Oracle Payables Period Close the accounting period by using the Control Payables Periods window to set the Period Status to ‘closed’. To create successful accounting entries for accounted transactions with errors. 4. you can submit this program to change invoice distribution GL dates to the first day of the next open period so you can close the current period. The program transfers unaccounted transactions to the period you specify by updating the GL dates to the first day of the new period. Choose the Sweep button. or accounted transactions with errors. The ‘Unaccounted Transactions Sweep Program’ will not roll forward accounted transactions. Choose the Exceptions button in the Control Payables Periods window. You can accept this default or enter another open period. Choose the Submit button to submit the Unaccounted Transactions Sweep Program. In the Sweep to Period field. Reconcile Oracle Payables Activity for the Period a) Run the Open Account AP Balance Listing Report (Accounts Payable Trial Balance*) Oracle Financials E-Business Suite Release 12 Period End Procedures 26 . In the Control Payables Periods window if you try to close a period that has exceptions then the system enables the Exceptions button. Payables automatically produces the Unaccounted Transactions Sweep report. You can then close the current accounting period in Oracle Payables. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. To submit the Unaccounted Transactions Sweep Program: 1. Payables provides the next open period. Payables opens the Sweep to Period window.

with the Oracle General Ledger Creditors Control Account.1 and 553484. the following reconciliation method can be used: Use the following reports to reconcile your transferred invoices and payments to ensure that your Trial Balance accurately reflects your accounts payable liability: Open Account AP Balance Listing Report or Accounts Payable Trial Balance (for last day of prior period). In R12. Please refer to the My Oracle Support note # 553484. To obtain the most up-to-date trial balance for a given period. prior to running the report.1 to understand which specific report is applicable in your case. The Open Account AP Balance Listing is based on a Subledger Accounting extract and enables you to identify the open Accounts Payable transactions that make up each Accounts Payable balance. it should be disabled in R12.This report is a modified version of the Open Account Balance Listing report. Report Name = "Accounts Payable Trial Balance" Short Name = APXTRBAL This is the R12 Accounts Payable Trial Balance. there are 4 Concurrent Programs related to the trial balance: 1. 4.1 for more details on this report. Report Name = "Open Account AP Balances Listing" Short Name = XLAAPRPT This is the subledger Open Account Balance Listing report modified for Payables and should be used as the Trial Balance. This report can be used to generate payables trial balance. *Accounts Payable Trial Balance report name. use the applicable Payables modified version of the report. this is the correct report name to run if Trial Balance Remodel Phase 4 or higher has been applied. This is run to generate trail balance as of last day of prior period.This report basically generates the payables trial balance that can be used for reconciliation of the total accounts payable liabilities in Oracle Payables. 3. The report provides details of the outstanding accounts payable liability for the organization. This report should NOT be used for Payables. Oracle Financials E-Business Suite Release 12 Period End Procedures 27 . Report Name = "Open Account Balance Listing" Short Name = XLATBRPT This is a Subledger Accounting report. Please refer to the My Oracle Support note # 604739. Report Name = "Accounts Payable Trial Balance (Old) " Short Name = APXTRBAL This is the R11i Accounts Payable Trial Balance. journal entries should be posted for the invoice and payment activity for the period. for a specific accounting period. 2. Instead. For reconciliation of Oracle Payables and Oracle General Ledger when posting is only performed at period end.

Also. Open Account AP Balance Listing Report or Accounts Payable Trial Balance (for last day of current period). b) Run Third Party Balances Report (Optional) This report is used to display balance and account activity information for suppliers and customers. the Posted Invoices Register and Posted Payments Register reports must be run after each posting run. be sure to post the transactions in the general ledger. you can use the Account Analysis report and the General Ledger reports to determine what journals are being posted to that account. Open Account AP Balances Report (or Accounts Payable Trial Balance) =0 Attention: When posting to the General Ledger is performed multiple times throughout each accounting period. Payables Posted Payment Register . for reconciliation of Oracle Payables liabilities with Oracle General Ledger’s Trade Creditor Control Account. Before running your reports.Invoice journals must be posted in general ledger to appear on this report. Attention: A comparison between the accounts in payables with the accounts in GL might not match. Attention: Typical AP/GL Reconciliation Example 31st March Open Account AP Balances Report (or Accounts Payable Trial Balance) + April Payables Posted Invoice Register –April Payables Posted Payment Register –.Payables Posted Invoice Register . For more information refer to ‘SLA Implementation Guide’. run the Transfer Journal Entries to GL Program for all transactions in the period that you are reconciling. This is run to generate trial balance as of last day of current period) This balancing process will help you ensure that all liabilities recorded in Payables are reflected in the general ledger AP liability accounts.Payment journals must be posted in general ledger to appear on this report. third party.30th April. as SLA has the ability to override the accounting. It retrieves the following information: * Third party balances for third party control accounts * Subledger journal entry lines that add up to the total period activity for each control account. and third party site * Third party and third party site information * User transaction identifiers for the associated event Oracle Financials E-Business Suite Release 12 Period End Procedures 28 . If the balance reported by the Open Account AP Balances Report (or Accounts Payable Trial Balance) does not equal the balance in the AP liability account.

Optionally compare it with ‘Third Party Balances’ report (if applicable). and carry forwards. It only includes journal entries transferred to and posted to general ledger. 13.The balances in this report can be compared with the general ledger balances for the same control accounts to reconcile. Suggestion: If the volume of transactions in Accounts Payable requiring Assets update is large. general ledger journal entries imported from SLA are not included in the report. and confirmed all invoice holds. Open the Next Oracle Payables Period Open the next accounting period by using the Control Payables Periods window to set the Period Status to Open. c) Submit and review Account Analysis Report The Account Analysis Report provides drill-down information about the movement on a particular account for a period or range of periods. Note: To avoid duplication with subledger journal entries. including withholding tax. you should consider running the Mass Additions Create process on a more regular basis. It is recommended to do a final Mass Additions Create after the period close to ensure that all Payables invoices are: * Included in the correct period and * Any additional invoicing will become part of the next periods invoice and asset processing period. submit the Mass Additions Create program to transfer capital invoice line distributions from Oracle Payables to Oracle Assets. Run Reports for Tax Reporting Purposes (Optional) A variety of standard reports can be used to provide tax information. 11. The mass addition line appears in Oracle Assets with the functional currency amount. 12. Review this report. After you create mass additions. Oracle Financials E-Business Suite Release 12 Period End Procedures 29 . This report is owned by SLA. The E-Business Tax data extract draws tax information from each application and stores the data in an interface table. you can review them in the Prepare Mass Additions window in Oracle Assets. Payables sends the invoice distribution amount in the converted functional currency. Run Mass Additions Transfer to Oracle Assets After you have completed all Payables transaction entries. For foreign currency assets. Withholding tax is handled by Payables whereas other tax requirements are handled by E-Business Tax. which is required to be reported to the relevant Tax Authority. Output from the tax extract is designed to look as close to a simple tax report as possible.

b) Key Indicators Invoice Activity Report Report that compares the invoice activity for each of your accounts payable processors during the period you specify and the previous period. invoices. 14.Suggested Reports include: Financial Tax Register Use the Financial Tax Register to view the output from the Tax Reporting Ledger. The Key Indicators Report generates the following reports: a) Key Indicators Current Activity Report Use the Key Indicators Report to review your accounts payable department's productivity. The Tax Reporting Ledger consists of accounting information created in Oracle Payables. c) Key Indicators State of the System Report Oracle Financials E-Business Suite Release 12 Period End Procedures 30 . and Oracle General Ledger. Note: Please refer to Oracle E-Business Tax Reporting Guide for complete details on tax related reports. Oracle Payables generates reports you can use to review payables transaction activity. The report provides the number of transactions for each indicator (such as number of automatic payments created during a period) and amount values where applicable to the Key Indicator (such as total value of automatic payments created during a period). exception items. and updates. When you submit the Key Indicators Report. and review the current number of suppliers. The report lists. payments and matching holds in the system. for each tax rate code. Run the Key Indicators Report (Optional) This report enables review of the accounts payables department’s productivity. when combined with similar information from Oracle Accounts Receivable. This statistical information can be useful for cash flow analysis and forecasting purposes. invoices. The report includes. These tax registers are available: • Tax Register (default) • Interim Tax Register • Nonrecoverable Tax Register These summary levels are available within each Tax Register: • Transaction Distribution Level • Transaction Level (default) • Transaction Line Level Tax Audit Trail Report Use the Tax Audit Trail report to review tax information for posted or partially posted invoices. for each invoice. The short name of this report is ZXXTATAT. The short name of this report is RXZXPFTR. both the tax amount and the invoice amount subject to tax. Oracle Payables produces this report only if you choose ‘Yes’ for the Include Invoice Detail parameter. and payments. distributions of all posted or partially posted invoices. This report provides detail tax and invoice information and the total amounts for each tax rate code in the invoice currency and functional currency. The Key Indicators Report provides current activity indicators that compare current period activity with prior period activity in three major areas: suppliers. Payables further breaks down each category into basic items.

* Number of invoice distributions. Matching holds: * Matching holds (number of matching holds in Payables). Invoices: * Number of invoices. * Average matching holds per invoice on matching hold (number of matching holds divided by the number of invoices on matching hold). Oracle Financials E-Business Suite Release 12 Period End Procedures 31 . For example. as well as average values. * Average invoices per payment (number of payment documents divided by the number of invoice payments). * Number of supplier sites. it includes: Suppliers: * Number of suppliers. *Average sites per supplier (number of sites divided by the number of suppliers).) * Scheduled payments (number of scheduled payments based on payment terms and manual adjustments in the Scheduled Payments tab).a payment document can pay multiple invoices). * Invoice payments (number of invoice payments made by Payables . Payments: * Number of payments (both manual and computer generated) created and recorded in Payables. * Average payments per invoice (number of invoices divided by the number of scheduled payments). * Average lines per invoice (number of invoices divided by the number of distributions.The Key Indicators State-of-the-System Report provides a period-end view of Oracle Payables.

* Permanently Closed . However. you may want to consider using one of the alternate general ledger period conventions.No further processing is possible.This status prevents transaction entry. transactions are summarized into periodic cycles for reporting and reconciliation. Most subledgers have a periodic cycle that parallels the general ledger fiscal cycle. Project periods may be based on a different period of time such as a week. projects may be based on a different periodic cycle to that of the general ledger.Period has never been used. and other modules. Period Statuses Oracle Projects has statuses similar to the standard period statuses as in other modules: *Never Opened . such as Projects. such as a 5-4-4 period split. Oracle Financials E-Business Suite Release 12 Period End Procedures 32 . while allowing minimum interruption of transaction processing.Period is available for data entry. and allows users to correct unprocessed items prior to completing the period close.Period is open to accept transactions from other modules. Business Requirements Period end procedures for Oracle Projects have two main functions: Changing the status of the current period to closed Activating all the processes and controls necessary to produce reports that accurately reflect the period activity. Suggestion: If you have different periods in Projects. * Closed .Period is closed for processing.Chapter 5 Oracle Projects This chapter describes the procedures for performing period-end processing in Oracle Projects Release 12. but can be re-opened if required. * Open . * Future Enterable . If the two sets of periods overlap. Project Periods and General Ledger Periods In Oracle subledgers. then you may need to put in place special procedures for the reconciliation of Projects to the general ledger. This will enable you to more easily align Projects with General Ledger for reconciliation purposes. Usually used where modules are maintained in different periods. and transactions are likely to be posted across modules. * Pending Close .

3. without accounting for them. you should ensure that all the following maintenance activities have been completed: Project Maintenance (revenue/billing based options) * Billing burden schedules and burden schedule overrides * Bill rate schedules and bill rate overrides * Project labor multiplier changes * Revenue budget changes * Project/Task % complete * Funding changes * Changes in the task Ready to Accrue checkbox Implementation Maintenance Oracle Financials E-Business Suite Release 12 Period End Procedures 33 .General Exception Handling at Period End If you do not want to correct exceptions during the current GL period. You can generate the Subledger Period Close Exceptions Report through a concurrent request for the application associated with the responsibility or for all applications in the General Ledger responsibility. This process needs to be performed for each operating unit defined. Change the Current Oracle Projects Period Status from Open to Pending Close This is an interim status. Procedures 1. Open the Next Oracle Projects Period It is recommended that you open the next period to minimize interruption to users who may require the ability to enter transactions in the new period during the current period close procedure. 2. then you can run the process “PRC: Sweep Transaction Accounting Events” to change the date on unaccounted transaction accounting events to the first day of the next open GL period. which allows you to interface and adjust transactions in the period but does not allow transaction entry. Complete all Maintenance Activities As there are a number of maintenance activities that can affect the period close procedure. This process needs to be performed for each operating unit defined. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation.

update the project summary amounts before. 4. or use function and responsibility restrictions to prevent access to these areas during the period close procedure. Run Maintenance Processes It is recommended that the following maintenance processes be run in preparation for the period end: a) Run Burden Schedule maintenance to assure that all burden schedules have been compiled. Run PRC: Compile All Burden Schedule Revisions b) Run organization maintenance to ensure all organizations have been added to all affected compiled burden schedules. d) Run PRC: Update Project Summary Amounts After Resource List Change 5. verify that all timecards are entered or accounted for. the period close. Verify that all pre-approved timesheet batches in the current PA period have been released and approved.* Employee assignments * Labor cost rates * Standard costing burden schedule maintenance Other Maintenance * Retroactive changes in employee assignments * Retroactive changes in labor cost rates * Changes in Auto-Accounting Rules or Lookup Sets Suggestion: You may need to implement workflow procedures. Attention: One rejected expenditure item will cause an entire expenditure to be rejected. Complete All Transactions for the Period Being Closed Enter and Approve all Timesheets for the PA Period Import all timesheets entered via Self-Service Time. Run PRC: Add New Organization Compiled Burden Multipliers c) If changes or additions were made to pre-existing resource lists. not during. Run PRC: Transaction Import. Transaction Source = Oracle Self-Service Time. If Oracle Projects is the direct data source for payroll or for reconciling labor costs to payroll. Oracle Financials E-Business Suite Release 12 Period End Procedures 34 .

Run the Cost Distribution Processes Run all cost distribution processes to cost all enabled expenditures that have an expenditure item earlier than or equal to the current reporting PA period end date: * PRC: Distribute Labor Costs * PRC: Distribute Usage & Miscellaneous Costs * PRC: Distribute Expense Report Adjustments Oracle Financials E-Business Suite Release 12 Period End Procedures 35 .Run the AUD: Missing Timecards Report Interface Supplier Invoices from Oracle Payables Before generating project revenue or running final cost event processes. The following transaction sources are pre-defined. These expense reports may have been entered via Self-Service Expenses or Expense Reports in Oracle Payables. Run PRC: Interface Supplier Invoices from Payables Interface Expense Reports from Oracle Payables Before generating project revenue or running final cost distribution processes. Warning: If your PA period matches a GL/AP month end. import all eligible expense reports from Oracle Payables to create pre-approved expense report batches. Access to these activities should be controlled. 6. ensure that all new supplier invoices processing for the current GL period has stopped. Run PRC: Interface Expense Reports from Payables Project Related Inventory Transactions Note: the following processes must be completed within Oracle Inventory prior to importing project related inventory transactions: * Run the Cost Collector * Project Cost Transfer * Run PRC: Transaction Import. after verifying that all transactions for the period have been accounted for. Source Description Inventory Inventory Misc Work In Process Manufacturing Material Costs Inventory Issues and Receipts entered in the Miscellaneous Transactions window in Oracle Inventory Manufacturing Resource Costs Attention: Entering new expenditures or adjusting existing expenditures during the final cost distribution process may cause reconciliation problems. import all eligible supplier invoices from Oracle Payables.

Interface Cost Transactions to Other Applications You must successfully interface all relevant costs to Oracle Payables. Interface CIP Assets to Oracle Assets Run PRC: Interface Assets This process requires that prior to interfacing. The programs to be run are: PRC: Generate Cost Accounting Events and PRC: Generate Cross Charge Accounting Events. which ensures that processes and reports are run and completed in the correct order. then submit PRC: Submit Interface Streamline Processes with the appropriate streamline parameters to transfer the costs to GL. and/or resolved prior to continuing with the period close.* PRC: Distribute Supplier Invoice Adjustment Costs * PRC: Distribute Borrowed and Lent Amounts * PRC: Total Burdened Cost (If using Project Burdening) * PRC: Create and Distribute Burdened Transactions (If using Project Burdening) Note: PRC: Distribute Expense Report is now obsolete. Oracle Financials E-Business Suite Release 12 Period End Procedures 36 . Journal Import can be submitted from GL to import the costs into GL. 7. which will be later used by SLA. If accounting was performed without transferring to GL. Suggestion: Some of the above reports and processes may be run using Submit Streamline Processes. This program is owned by SLA and creates accounting. all asset lines have been generated by running the PRC: Generate Assets Lines for a range of projects process. For more information refer to Oracle Project Costing User guide. If you use the Streamline process. Run the Generate Cost Accounting Events Program This is a new program in R12. Transfer from Projects to GL can be achieved by submitting the ‘Create Accounting’ – (PRC: Create Accounting) process from the SRS screen. Note: Ensure that all interface transaction reports and exception reports are completed successfully. transfers & posts to GL with the appropriate parameters. Attention: You can interface asset lines to Oracle Assets only after you have transferred the underlying expenditure items to General Ledger. 6a. This program has to be run to generate accounting events. or completed more succinctly. Oracle General Ledger and Oracle Assets or revenue to Oracle Receivables before you can change the status of the current PA period to Closed. the order of some of the above steps may be changed.

8. Generate Draft Revenue for All Projects After all the cost distributions processes have completed successfully and all supplier invoices have been imported from Oracle Payables, run the mass project revenue generation process. Run PRC: Generate Draft Revenue for a Range of Projects for all projects. Attention: Concurrent Revenue processes can be run only if the ranges of projects specified for the processes do not overlap 9. Review and Release Revenue for All Projects Perform a review of the revenue generated and approve the same. 10. Run Generation Revenue Accounting Events Process Run PRC: Generate Revenue Accounting Events to generate events for revenue. These events will be used subsequently by the Create Accounting process to generate accounting. 11. Run Create Accounting to Process Revenue Accounting Events This program is used to generate accounting and then transfer it to the General Ledger based on appropriate parameters. If accounting is generated in FINAL mode with Transfer to General Ledger being set to ‘No’ then run PRC: Transfer Journal Entries to GL with parameters to either post in GL or just to leave it unposted. If it is transferred unposted, the General Ledger posting program needs to be submitted. Attention: Interface processes have become obsolete. The same is achieved by PRC: Create Accounting

12. Generate Invoices Run PRC: Generate Invoices to generate invoices to be interfaced to Oracle Receivables. Run PRC: Generate Inter-Company Invoices for a Range of Projects for all projects. This process: * Creates inter-company invoices from cross–charged transactions previously identified by inter-company billing to be processed for cross charging. * Deletes unreleased inter-company invoices. * Creates inter-company credit memos and invoice cancellations. 13. Transfer Invoices to Oracle Receivables Run PRC: Interface Invoices to Receivables Run PRC: Interface Inter-Company Invoices to Receivables

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Warning: Make sure that Oracle Receivables has not closed its period until all Oracle Projects invoices have been interfaced to Oracle Receivables

14. Run Period Close Exceptions and Tieback Reports Run the period close exceptions reports to identify transactions that have not been fully processed, and that would prevent you from closing the PA period: * AUD: Cross Charge GL Audit * AUD: Missing Timecards * EXC: Transaction Exception Details * EXC: Transaction Exception Summary * PRC: Tieback Invoices from Receivables The tieback process from GL has become obsolete. Review the report generated by Create Accounting/Transfer to GL processes for any errors. Review these reports and make all the indicated corrections. After the corrections are made, run the reports again until there are no exceptions. Suggestion: Some of the above reports and processes may be run using the Submit Streamline Processes process. This process ensures processes and reports are run and completed in the correct order. If you use the Streamline process, the order of some of the above steps may be changed, or completed more succinctly. All the streamline options are not available in R12. Some of them have become obsolete. Please refer to the relevant financials and projects user guides. 15. Run Final Project Costing and Revenue Management Reports Run all of the following project costing management reports: * MGT: Revenue, Cost Budgets by Resources (Project Level) * MGT: Task - Revenue, Cost, Budgets by Resources * MGT: Revenue, Cost, Budgets by Work Breakdown Structure * MGT: Employee Activity Report * MGT: Invoice Review * MGT: Unbilled Receivables Aging * MGT: Agreement Status by Customer 16. Change the Current Oracle Projects Period Status from Pending Close to Closed When changing the status to Closed, the system checks to see if any unprocessed items exist in the period. If unprocessed items exist, the change of status is not allowed.

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Re-run the period close exception reports to identify any unprocessed items. This process needs to be performed for each operating unit defined. 17. Advance the PA Reporting Period (Optional) When you are ready to view the updated summary amounts for the next PA period in the Project Summary Inquiry window, advance the PA Reporting Period. Only one period can be designated as the current reporting period for Project Status Inquiry. The current reporting period does not have to be an open period. 18. Update Project Summary Amounts To enable users to view the latest data in the Project Status Inquiry Window, you must run a final project summary update for the current reporting (pending close) PA period. Attention: The update process cannot run concurrently with the interface processes. Warning: Do not run PRC: Update Project Summary Amounts After Resource List Change during the closing or post-closing processes. 19. Restore Access to User Maintenance Activities After the project summary amounts have been updated for the closed, current reporting period, restore access to user maintenance activities. 20. Reconcile Cost Distribution Lines with General Ledger (Optional) The following Project Subledger Audit Reports print cost distribution lines related to projects. These reports enable you to drill down from a GL account balance in the trial balance to the individual project–related transactions: * Run AUD: Project Subledger Summary * Run AUD: Project Subledger: Detail by Project * Run AUD: Project Subledger: Detail by Expenditure Type 21. Permanently Close the Oracle Projects Period (Optional) When you are satisfied with the closing of the PA period and will not need to reopen the period, change the status of the PA period to Permanently Closed. Warning: Once a period is permanently closed it can never be re-opened.

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Chapter 6 Oracle Receivables
This chapter describes the procedures for performing period-end processing in Oracle Receivables Release 12.

Business Requirements
Oracle Receivables requires periodic internal reconciliation of the transactions entered into the Accounts Receivables system. Oracle Receivables provides a comprehensive set of reports to facilitate the reconciliation of outstanding customer balances, transactions, receipts, and account balances. The application provides the functionality to enable reconciliation of your subledger, before posting to the General Ledger. Posting to the General Ledger allows the extraction of details from Oracle Receivables, and the creation of journal entries in the General Ledger. After posting to the General Ledger, it is possible to reconcile Oracle Receivables with the General Ledger by verifying that all the correct journal entries were made.

Procedures
The following steps are taken in performing period-end processing for Oracle Receivables. 1. Complete All Transactions for the Period Being Closed Ensure that all transactions have been entered for the period being closed. Completing all transactions for Oracle Receivables: * Complete Invoicing, Credits and Adjustments * Complete Receipts and Reversals * Complete Invoice and Customer Import * Complete Lock Box Processing * Run the revenue recognition program (Optional; required if OM-shipping is used) If you import transactions from an external system or Oracle Projects, ensure that you have imported all transactions and master files, and reviewed all audit trails for completeness. 2. Reconcile Transaction Activity for the Period Reconcile the transaction activity in Oracle Receivables, before posting to the General Ledger using SLA. This reconciliation process checks that Oracle Receivables transactions are balanced, ensuring that all items eligible for posting are reflected on the Sales Journal. Run the following reports for the same accounting period date range: a. Transaction Register
Oracle Financials E-Business Suite Release 12 Period End Procedures 40

category. by account type (i. The total on the Sales Journal by GL Account should equal the total of items eligible for posting as listed on the Transaction Register. using the Sales Journal by Customer report. invoices. general ledger journal entries imported from Subledger Accounting are not included in the report. and event class. and Transaction Currency. and voucher number. The summary totals for the sales journal are by Posting Status.This report details all the transactions (i. ledger currency. Data is then sorted by accounting date. When a transaction is accounted with errors. By using the following formula. research the customer balances to find out which balance does not tally. Using the report parameters. and those which are yet to be posted but have been accounted. as they are negative on the Transaction Register and positive on the Sales Journal. receivables. as accounted by SLA. source. Journal Entries Report This report enables the review and analysis of accounting entries in the Receivables subledger. This report details. If any discrepancies are evident. d. $100 + (2 * $20) = Debits $120 + Credits $20 ($120 Debits . debit memos.e. By altering the parameters. the report also lists those transactions. revenue.$20 Credits) Attention: The Transaction Register total for any credits must be adjusted. This report shows transactions which were entered and completed. specified for the period being reconciled. freight. you can produce a detailed or summary listing of the accounting information you want to review. credit memos. guarantees and chargebacks) entered with a GL date between the period start and period end dates. deposits. the general ledger distributions for posted and/or un-posted invoices for the specified period. Attention: Ensure that the monthly transaction total is accurate and that no distribution issues exist. ensure that the Transaction Register matches the Sales Journal: Transaction Register (Items eligible for posting) + 2 * Credit Memo Total = Sales Journal (Debits plus Credits) E. customer name. SLA groups the report by ledger. Company. transactions that have been accounted with error. tax). c. event type. review the details and make the necessary changes. The report also lists in detail.e. Sales Journal by Customer Report and the Sales Journal by GL Account Report This report enables the review of all transactions for the specified period. and all entries that could not be transferred to the general ledger. which have been posted in general ledger. b. Note: To avoid duplication with subledger journal entries. AR to GL Reconciliation Report Oracle Financials E-Business Suite Release 12 Period End Procedures 41 .g. document number.

However. and * You have reviewed the Unposted Items report to confirm that all journal entries have posted. Reconcile Outstanding Customer Balances Reconcile the outstanding customer balances at the beginning of a specified period with the ending balance for the same period. This report simplifies the reconciliation process by comparing Receivables and General Ledger account balances in a single place. * GL Subledgers Not AR . then the following columns highlight the type of journals that affect the account balances: * GL Source Manual . which can be run and reviewed to reconcile these components: Component Beginning Balance Transactions Adjustments Exceptions Report Aging reports Transaction Register Adjustment Register Invoice Exceptions Report Oracle Financials E-Business Suite Release 12 Period End Procedures 42 . using the following formula. This report will show a difference between Receivables and GL account balances only if items did not successfully post to GL accounts. and * You have used the posting execution reports to confirm that the journal entries exported from Receivables match those posted in General Ledger. * Unposted in GL . such as Oracle Payables or a legacy feeder system.Manual journal entries made in the General Ledger. 3. thus creating reconciliation issues in Oracle General Ledger.The AR to GL Reconciliation report compares the account balances in Oracle Receivables to those in Oracle General Ledger. During the internal reconciliation process.Unposted Oracle Receivables journals in the general ledger. If the actual balance of a specific account is different in Receivables than in GL. use the AR Reconciliation report to confirm that your transactional and accounting data match. The Difference column indicates how the activity in Receivables compares to the journal source of Receivables in the General Ledger. even if the data matches.Journal entries posted to the General Ledger from other subledgers. the journals could still post to incorrect GL accounts. Run the AR to GL Reconciliation report: * After the Create Accounting program in Receivables has completed. The Potential Reconciling Items report addresses this issue by suggesting journal items that might potentially post to GL accounts with unexpected account types. known as the Roll Forward Formula: Period-End Balance = Outstanding Balance at Start of Period + Transactions + Adjustments – Invoice Exceptions – Applied Receipts – Unapplied Receipts The following list represents the various components that affect a customer’s balance and the reports. and highlights journal sources where discrepancies might exist.

4. b) Receipt Register Use this report to review a list of receipts for a specified date range. batch source. If any of the Receipts listed can now be applied to outstanding transactions. You can use this report to determine how much your customer owes after taking into account all on-account and unapplied amounts. Using the receipt number. payment method. which are not open in Receivables. This report includes both cash and miscellaneous receipts. you can review the detailed information on the Receipts Journal Report. payment date. The Journal Entries Report shows the receipt numbers that contribute to a particular GL account. and therefore do not show up in the aging reports. Reconcile Receipts Ensure that Oracle Receivables receipts balance by running the following reports: a) Receipts Journal Report This report displays details of receipts that appear in the Journal Entries Report. and unapplied amount.Applied Receipts Applied Receipts Register (Identify payments received from customers) Unapplied and Unresolved Receipts Register (identify payments received from customers) Aging report (as of the last day of the accounting period) Unapplied Receipts Ending Balance Attention: You can use the Invoice Exceptions Report to adjust the Transaction Register for any transactions. 5. on-account amount. payment number. Receivables displays information about your on-account or unapplied payment such as GL date. Oracle Financials E-Business Suite Release 12 Period End Procedures 43 . Review the Unapplied Receipts Register Use the Unapplied Receipts Register to review detailed information about your customers’ on-account and unapplied payments for the date range that you specify. batch name. you can perform this action by re-querying the receipts and following the normal application procedure.

Oracle Financials E-Business Suite Release 12 Period End Procedures 44 . If Create Accounting is submitted in the ‘Final’ mode without transferring it to the General Ledger. Bug 7589198: Receipt Register does not match Receipt journal – deemed functionality (similar to Bug 7423482). See the following My Oracle Support bugs and enhancement requests for more details: Note 393682. The accounting is done at the ledger level and the program has the ability to transfer and import into the General Ledger based on the parameters specified. transactions in error etc. Reconcile Receipts to Bank Statement Activity for the Period (Refer to Chapter 3 Period-End Procedures for Oracle Cash Management) Attention: The Create Accounting process must be re-run for any miscellaneous accounting entries generated from the bank reconciliation. the Receipts Journal Report and Sales Journal display the transactions that would be posted to the General Ledger (provided the posting process was run for the same GL date range).1: Unable to Reconcile Receipt Register to Receipt Journal – Enhancement 5567693 is still pending. Create Accounting will generate a report which details the transferred transactions. Compare this report to the Journal Entries Report (run in Posted status mode) and verify that they match. for transfer to the General Ledger. Once transactions and receipts have been transferred to the GL tables. Oracle Receivables regards these items as having been ‘posted’ within the sub-ledger. The posting process for Oracle Receivables involves a single step: Create Accounting This process can be submitted from the transactions screen to account for a specific receivables transaction or from the SRS screen to account for all receivables transactions. the entries will have to be transferred separately. 8. After internally reconciling the transactions and receipts using these two reports. Use the same General Ledger date ranges for the Journal Entries Report and the Create Accounting program. Bug 7423482: Receipt Register and Receipt Journal do not show on-account activity – deemed functionality. Reconcile the General Ledger Transfer Process The Create Accounting program produces the Subledger Accounting Program report that shows you the subledger journal entries created for successful accounting events. Both reports display invoice related receipts and miscellaneous receipts.Attention: Normally the total of the Receipts Journal report should equal the total of all the receipts in the Receipt Register for the same GL date range. it is possible to perform external reconciliation during and after the posting process. 7. Post to the General Ledger Prior to posting to the General Ledger. 6.

The Journal Entries Report is a new Subledger Accounting BI Publisher report which is available from the subledger applications and can be run with parameter Posted = Yes. 10. Note: Balance Forward Billing replaces consolidated billing invoices (CBI) feature of 11i. that period is opened for all operating units within the ledger. 11. then AR distribution accounting is displayed. and compare the total with the Journal Import Execution Report. and comparing them with the Journal Entries Report output.Account balances for transactions and receipts can be reconciled by generating the Sales Journal by GL Account Report. the Receipts Journal Report (in ‘transaction’ mode) and the Journal Entries Report for posted items. then SLA accounting is displayed. the following statements apply: If SLA final accounting lines exist. Oracle Financials E-Business Suite Release 12 Period End Procedures 45 . No or ALL. For more information on the setup of balance forward billing. 9. which users can copy and modify the report template according to their needs. When you update the period statuses to ‘Open’ in one operating unit. ensure that the consolidated (BFB) invoices have been generated for the current period. ensure all the invoices generated during the month have been printed and issued. When running any Oracle Receivables reports that display accounting involving transactions that have been posted to GL. Print Invoices Once you are satisfied that the customer balances are reconciled. Attention: Where there are multiple operating units within the same ledger all operating units must be ready to close at the same time. Attention: The ‘Detail by Account’ version of the Journal Entries Report may be the most useful for reconciliation in this case. Close the Current Oracle Receivables Period Close the current period in Oracle Receivables using the Open/Close Accounting Periods window. Reconcile the Journal Import Process Create Accounting program submits Journal Import automatically when launched in ‘Mode = Final’ and ‘Transfer to GL = Yes’. Attention: If the customer is using Reporting/Accounting sequences. The account totals in the Sales and Receipt journals should match the corresponding account balances in the Journal Entries Report. If SLA accounting lines do not exist. Reconcile the Journal Import by manually reviewing the transactions in the Subledger Accounting Program Report. If the Balance Forward Billing functionality is used. they can run Journal Entries Report using Sequence Ranges created in the Create Accounting program run. refer to the Oracle Receivables Implementation Guide or the Oracle Receivables User Guide. All of the operating units that share a ledger also share the same period statuses.

which were transferred in FINAL mode and with Post in GL being set to NO. You can also generate the Subledger Period Close Exceptions Report through a concurrent request as follows: * For the application associated with the responsibility * For all applications in the General Ledger responsibility 13. 16. Oracle Financials E-Business Suite Release 12 Period End Procedures 46 . then re-open both appropriate Receivables and General Ledger Periods and initiate another posting. This report is used to display balance and account activity information for Suppliers and Customers. 14. Third Party Balances Report Run Third Party Balances Report from the SRS screen. Review the Subledger Period Close Exceptions Report The Subledger Period Close Exceptions Report lists all the accounting events and journal entries that fail period close validation. This report should not generate any output if all Receivables transactions have been successfully posted to the General Ledger. for the transactions. If there are any items not posted for the current or prior periods. Review Account Analysis Report The Account Analysis Report provides drill-down information about the activities relating to a particular account for a period or range of periods. 15. submit with a GL date range for at least the current financial year. Review the Unposted Items Report Oracle Receivables prints the Unposted Items Report for all items that are not posted for the specified GL date range.12. Run the request from the Submit Requests window. Reconcile Posted Journal Entries After running the GL posting process in Oracle General Ledger. and third party site * Third party and third party site information * User transaction identifiers for the associated event The balances in this report can be compared with the General Ledger balances for the same control accounts to reconcile. Using the Submit Requests window to generate this report. third party. It only includes journal entries transferred to and posted to the General Ledger. It is automatically submitted by General Ledger when closing a GL period if there are unprocessed accounting events or un-transferred journal entries. run the Journal Entries Report (with ‘Posted = Y’) to help reconcile the posted journals. It retrieves the following information: * Third party balances for third party control accounts * Subledger journal entry lines that add up to the total period activity for each control account. The output will consist of all items not posted to the General Ledger for the specified GL date range.

17. Output from the tax extract is designed to look as close to a simple tax report as possible. which is required to be reported to the relevant Tax Authority.Review this report and compare it with the Third Party balances report. Note: To avoid duplication with subledger journal entries. The E-Business Tax data extract draws tax information from each application and stores the data in an interface table. 18. including withholding tax. The following tax registers are available: a) Deferred Output Tax Register b) Recoverable and Non-Recoverable Tax Registers c) Single Cross Product Tax Register d) Standard Input and Output Tax Registers The following summary levels are available within each Tax Register: * Transaction Header * Transaction Line * Accounting Line Oracle Financials E-Business Suite Release 12 Period End Procedures 47 . Run Reports for Tax Reporting Purposes (Optional) A variety of standard reports can be used to provide tax information. General Ledger journal entries imported from Subledger Accounting are not included in the report. Open the Next Oracle Receivables Period Open the next period in Oracle Receivables using the Open/Close Accounting Periods window.

You can also use the report when negotiating with a supplier by limiting the commitments to a specific supplier. 1. e–mail. Oracle Financials E-Business Suite Release 12 Period End Procedures 48 . and the next five periods. a Routing of Direct Delivery.g. Complete all transactions for Oracle Purchasing: a) Complete Requisitions b) Complete Purchase Orders and Releases c) Complete Receipts and Returns Submit the Confirm Receipts Workflow Select Orders process in Purchasing to send notifications through the Web.Chapter 7 Oracle Purchasing This chapter describes the procedures for performing period-end processing in Oracle Purchasing Release 12. Requestors can create receipt transactions by responding to the notification. and a Need–By date that is equal to or later than today’s date. Business Requirements The purchasing activity must be reconciled for the accounting period that is to be closed. or Notification Details Web page (accessible through the Notifications Summary menu in Purchasing) to requestors or buyers who create requisitions in Purchasing or iProcurement. or are FYI notifications only (e. Procedures The following steps are performed while closing the period in Oracle Purchasing. Closing FYI notifications is Optional. Users should close all FYI notifications and respond to those that require a response. notify requestor requisition has been approved).g. d) Print or Archive all new Purchase Orders e) Respond to all Workflow Notifications Notifications may either require action (e. You can use the report sorted by buyer to monitor buyer performance. Review the Current and Future Commitments (Optional) Run the Purchase Order Commitment by Period Report: The Purchase Order Commitment by Period Report shows the monetary value of purchased commitments for a specified period. notify approver approval required). The Confirm Receipts workflow sends notifications for items with a Destination or Deliver–To Type of Expense. Complete All Transactions for the Period Being Closed Ensure that all transactions have been entered for the period being closed. 2.

The quantity ordered and quantity received is displayed so the status of the purchase orders can be monitored. Simply backdate the receipt date when entering receipts for a closed period. This report indicates exactly what has to be accrued. Follow Up Receipts . before creating receipt accruals for that period. Receipt accruals can be reviewed by account and by item. If the goods have been received. 4. Complete the Oracle Payables Period-End Process Complete the steps to close the Oracle Payables period. matching of unmatched invoices. to enable the creation of receipts accrual entries. It is not necessary to enter all the receipts for a period prior to closing that period. 7. Follow Up on Outstanding Invoices For any items identified to have been received but not invoiced.Check With Suppliers For purchase orders not received. for what amount. the receipt transaction needs to be entered by the appropriate personnel. Warning: Where you have Oracle Inventory installed. 5. and helps in the preparation of accrual entries. Identify and Review Un-invoiced Receipts (Period-End Accruals) Run the Un-invoiced Receipts Report to review receipts for which the supplier invoice has not been entered in Payables. should be carried out at this point in the period-end process. Performing the Oracle Payables Period-End process effectively prevents any further invoices or payments being entered into Oracle Payables for the closed period. it is not possible to process a receipt to a closed Purchasing period. Entering of invoices. 6. specific standard. Oracle Financials E-Business Suite Release 12 Period End Procedures 49 . Attention: Where you have selected to accrue receipts at period end. which corresponds to the Oracle Purchasing period being closed. using the details from the Uninvoiced Receipts Report. to follow up the status of the ordered items with the suppliers . Review the Outstanding and Overdue Purchase Orders (Optional) Run the following reports: * Purchase Order Detail Report * Open Purchase Orders (by Buyer) Report * Open Purchase Orders (by Cost Center) Report These reports can be used to review all.3. but the receipt has not been entered into Oracle Purchasing. the appropriate department can use the details obtained from the Purchase Order Detail Report. where possible. make sure that all receipts have been entered for a specific period. and resolution of any invoice holds. or planned purchase orders. the appropriate department can then follow up with the supplier.

Reconcile Accrual Accounts . Identify the purchasing period for the receipt accrual entries: Oracle Purchasing creates receipt accruals for all receipts entered up to the end of the nominated period. Oracle Purchasing creates accrual entries only up to the quantity the supplier did not invoice for the partially invoiced receipts. Attention: This step is only required if the Accrue Expense Items flag is set to Period End.Period End Process Run the Receipt Accruals . Run the Receipt Accruals . Each time the process is run. The Create Accounting Program has to be run to create SLA journals. Oracle Purchasing reverses the encumbrance entry when creating the corresponding accrual entry. Oracle Purchasing creates an un-posted journal entry batch in the General Ledger for the receipt accruals. If encumbrance or budgetary control is being used. on the Accrual tabbed region of the Purchasing Options window for the current Organization. which in turn will trigger the journal import. debiting the charge account and crediting the Expense AP Accrual Account. corresponding to the encumbrance reversal entries for the un-invoiced receipts that were accrued. then the accrual entries need to be reversed manually. Journal entries are created for the amount of the receipt liabilities. for Expense distributions for a specific purchasing period. This process can be run as many times as needed. a reversal is not required.Perpetual Accruals Identify the period-end balances of the following accounts in the General Ledger: * Purchase Price Variance * Invoice Price Variance Account Oracle Financials E-Business Suite Release 12 Period End Procedures 50 .Period-End Report to create period-end accruals for uninvoiced receipts. Reversal of accrual entries for the next period will happen automatically if: * The Profile option ‘GL: Launch Auto Reverse after Open Period' is set to 'Y' * And the reverse option is selected for the accrual journal category. another journal entries batch is created. When the Accrue Expense Items flag is set to At Receipt. If the profile option is set to ‘N’. 9. If encumbrance or budgetary control is being used. Attention: The Receipt Accruals Period End Program creates accounting in the receiving sub ledger only.8.

and to reconcile the balance of the AP accrual accounts. purchasing. The Accrual Reconciliation Reports are used to analyze un-invoiced receipts. Run the Invoice Price Variance Report for the current period. the following transactions can account for the balance in the AP accrual account: * Uninvoiced Receipts * Over-invoiced Receipts * Errors (Invoices or inventory transactions charged to this Account by mistake) You need to analyze the balance of the AP accrual accounts. These reports enable you to identify the following issues in receiving. At any given time. Manually remove the Invoice Price Variance amount from the AP Accrual Account using your General Ledger. Identify the invoice price variance for all purchase orders charged to the Inventory AP Accrual Account and compare it with the balance of the Invoice Price Variance account in the General Ledger. distinguish accrued receipts from invoice price variances.(Refer to Chapter 8 Period-End Procedures for Oracle Inventory) Reconcile the balance of the Purchase Price Variance account using the Purchase Price Variance Report. inventory. work in process. All the affected PO distributions (in the case of AP/PO transactions and individual transactions in the case of miscellaneous transactions) Oracle Financials E-Business Suite Release 12 Period End Procedures 51 . Identify the Invoice Price Variances amount and Accrued Receipts amount in the AP Accrual Account.* AP Accrual Account * Inventory Account . or accounts payable transactions: * Quantity differences between receipts and invoices * Incorrect purchase order or invoice unit prices * Discrepancies in supplier billing * Invoice matched to the wrong purchase order distribution * Receipts against the wrong purchase order or order line * Miscellaneous inventory or work in process transactions that do not belong to the accrual accounts * Payables entries for tax and freight that do not belong to the accrual accounts The Accrual Reconciliation Report Group consists of one program and three reports as discussed below: a) Accrual Reconciliation LR Program load run This program is used in the accrual reconciliation process to populate the accrual reconciliation table with all the necessary transaction data to perform the reconciliation process. and identify errors.

Oracle Payables clears the AP accrual accounts. You can accrue both expense and inventory purchases as you receive them. and hence manual adjustment of accrual entries is not required. no information will be available to report. When Oracle Payables creates the accounting for the matched and approved invoice. the Accrual Reconciliation Report also displays any inventory or work in process transactions for the accrual accounts. The Reconciliation Reports can help in monitoring potential problems with purchasing and receiving activities that can affect the accuracy of the AP accrual accounts. Ensure that prior to closing the period. b) AP and PO Accrual Reconciliation Report The AP and PO Accrual Reconciliation Report provides a transactional breakdown of each accrual account with a net balance not equal to zero. d) Summary Accrual Reconciliation Report The Summary Accrual Reconciliation Report can be used to analyze the balance of the AP accrual accounts. After researching the reported accrual balances. The Reconciliation reports also provide information on the quantity differences (between the quantity received for a purchase order shipment and the quantity invoiced). records the liability from the supplier site and helps you monitor potential problems with purchasing and receiving activities that can affect the accuracy of your AP Accrual Accounts. * If you have installed Oracle Inventory or Work in Process. * If expense purchases are accrued on receipt. * If expense purchases are accrued at period end. Accounting entries have to be created in SLA and GL for these write-off transactions by submitting the Create Accounting program. When this happens.will be deleted first and the transaction information for these distributions will be fetched and loaded into the accrual reconciliation tables. and inventory receipts are not performed. and price differences. Oracle Financials E-Business Suite Release 12 Period End Procedures 52 . Prerequisites: * Oracle Payables and Oracle Purchasing installed. c) Miscellaneous Accrual Reconciliation Report The Miscellaneous Accrual Reconciliation Report shows all inventory and AP (not matched to PO) transactions that have hit the accrual account. the Accrual Write-Offs window can be used to indicate which entries are to be removed and written off from this report. you temporarily record an accounts payable liability to your expense or inventory AP accrual accounts. this report enables reconciliation with the accounts payable accrual account. these differences are resolved.

* Carry forward the funds available as at the end of the year. a GL transfer or period close must first be performed for the transactions to appear on these reports. or to a separate budget to identify between current year and carry forward amounts if required. * Carry forward budgets into the current appropriation budget. and the encumbered budget. For Oracle Payables. The carry forward process enables managers to perform any of the following: * Carry forward encumbrances for existing transactions (purchases / requisitions). (Refer to Chapter 11 Period-End Procedures for Oracle General Ledger.) The steps required to complete year end encumbrance processing in Oracle Purchasing are: a) Identify Outstanding Encumbrances Oracle Financials E-Business Suite Release 12 Period End Procedures 53 . the Receiving Value Report by Destination Account must be run to break out the receiving/inspection value by asset and expense. Attention: You must complete the Year End Encumbrance processing in Oracle Purchasing. 10.Attention: Most commercial installations accrue expense receipts at period end. journal entries must be created for the invoices. and Oracle Work In Progress. before commencing the year end Encumbrance processing in Oracle General Ledger. * Carry forward encumbrances. Attention: For Oracle Purchasing. is to extinguish any outstanding encumbrances or unused funds when you close the last period of the Financial Year within Oracle General Ledger. The default processing for Oracle Financials at year end. If you also receive inventory. The Accrual Reconciliation Reports requires the transactions to be transferred to the General Ledger interface to ensure that the report balances to the General Ledger. Mass budget processing also allows you to combine these budgets. Other facilities available: * Use mass allocations to bring forward part of the funds available. If expense purchases are accrued on receipt. as the information is not required as the receipt occurs. more entries must be reconciled in the AP accrual accounts. For Oracle Inventory. Perform Year End Encumbrance Processing (Optional) Oracle Financials provides a number of facilities for the processing of outstanding encumbrances as part of year end processing. all transactions are created in Purchasing and need the GL Transfer Program to be run to transfer to the General Ledger.

After the Receipt Accruals .If cash-basis accounting is used. * Period-end accrual . Payables transfers only accounting information for paid invoices to the General Ledger. not on receiving information. b) Perform MassCancel in Oracle Purchasing (Optional) MassCancel enables the cancellation of requisitions and purchase orders on the basis of user selected criteria. Refer below to the steps required to cancel transactions that are not to be carried forward.Generate the Encumbrance Detail Report at period-end. Use this report to review the accounts encumbered. Therefore. an automated process transfers the receipt information to General Ledger using the Journal Import Process.Period-End process is run. When cash-basis accounting is used and the Payables Transfer to General Ledger process is submitted.Generate the Encumbrance Detail Report as needed when the Accrue at Receipt option is used. Based on this report you can identify those transactions that you wish to carry forward into the new financial year. use the Encumbrance Detail Report in a way that matches the accounting method: * Receipt accrual . the encumbrances on the Encumbrance Detail Report remain until payment information from Payables is transferred to General Ledger.Print the Encumbrance Detail Report to review the requisition and purchase order encumbrances. During the period. the encumbrance detail on the report is based on invoice matching information from Payables. not Purchasing or Oracle Payables. The Encumbrance Detail Report reflects activity from General Ledger. if the encumbrance option for requisitions or purchase orders has been enabled. * Cash basis . and requisitions and purchases have entered and approved. Define MassCancel The Define MassCancel window is used to nominate a date range for transactions. the Encumbrance Detail Report reflects the true periodend receipt information. Upon entering receipt delivery information. as well as any of the following: * Document Type * Supplier Name * Accounting Flexfield Range This process will automatically generate a MassCancel listing report identifying the following: * Unable to Cancel Requisitions (reasons provided) * Unable to Cancel Purchase Orders (reasons provided) * Partially in Range Documents * Fully in Range Documents Oracle Financials E-Business Suite Release 12 Period End Procedures 54 .

spaces. then any references to the supplier in blanket purchase orders. etc. 11. and shipments to wrong locations. This report can be Oracle Financials E-Business Suite Release 12 Period End Procedures 55 . Run Standard Period End Reports (Optional) * Suppliers Quality and Performance Analysis Reports a) Suppliers Report Use the Suppliers Report to review detailed information entered for a supplier in the Suppliers and Supplier Sites windows. This report is useful for identifying suppliers with quality performance issues. 13. You have the option to include supplier site address and contact information. you must initiate MassCancel twice. special characters. This report also shows if a supplier is on PO Hold. c) Supplier Quality Performance Analysis Report The Supplier Quality Performance Analysis Report can be used to review suppliers' quality performance. The report lists all site names and addresses of each potential duplicate supplier. Payables lists your suppliers in alphabetical order and you can additionally order the report by supplier number. The report ignores case. Oracle Purchasing creates journal entries to zero out the encumbrances associated with the canceled requisitions and purchase orders. Open the Next Oracle Purchasing Period Open the next purchasing period in the Control Purchasing Periods window. and returned. The report inserts a blank line between groups of possible duplicate suppliers. 12. After duplicate suppliers have been identified. and auto source rules are updated to the new supplier. Close the Current Oracle Purchasing Period Close the current Purchasing Period in the Control Purchasing Periods window. Oracle Purchasing automatically un-marks all the receipts previously accrued to ensure that these receipts can be accrued again if they are still not invoiced in the next accounting period (where you have selected to accrue receipts at period end). rejected. rejected shipments. d) Supplier Service Performance Analysis Report The Supplier Service Performance Analysis Report lists late shipments. for percents accepted.Run MassCancel When this process is run. quotations. b) Suppliers Audit Report Use the Supplier Audit Report to help identify potential duplicate suppliers. This report lists active suppliers whose names are the same. If purchase order information is merged. Note that when canceling a purchase order. early shipments. they can be combined using Supplier Merge. you have the option of canceling the original requisition at the same time. Attention: If you wish to cancel both purchase orders and requisitions. up to a specified number of characters.

Oracle Financials E-Business Suite Release 12 Period End Procedures 56 . if no release exists. * Review Quotation. using blanket purchase agreements and planned purchase orders. The Intended Commitment is the total expenditure multiplied by the split percentage entered in the sourcing rules. but within the receipt tolerance days or not past due. all divided by the total corrected received quantity. The Days Variance is calculated as the summation of the date differential (transaction date subtracted from promise date) multiplied by the corrected received quantity (the received quantity plus or minus corrections) for each shipment. Purchasing prints the requisitions in order of creation date and prepared name. The % Received Early is the percentage of the ordered quantity received before the promise date and outside the receipt tolerance days. The % Received Late is the percentage of the ordered quantity received after the promise date and outside the receipt tolerance days. The report prints the items that are assigned sourcing rules. For each blanket purchase agreement and planned purchase order created. The Actual Percentage is the items expenditure as a percentage of the total expenditure for the date range of the report. The % Received On Time is the percentage of the ordered quantity received on the promise date or within the receipt tolerance days. The Expenditure is the sum of the item line amounts for standard purchase orders for the supplier. * Analyze Requisitions Requisition Activity Register The Requisition Activity Register shows requisition activity and monetary values. The % Open Current is the percentage of the ordered quantity not yet received. Purchasing provides the detail of the releases created against these orders. e) Supplier Volume Analysis Report The Supplier Volume Analysis Report shows the dollar value of items purchased from a supplier. RFQ and Purchase Order Statuses Purchase Order Statuses may optionally be reviewed early in the period close processing for Oracle Purchasing. Purchasing prints the blanket agreement or planned purchase order header information.used to derive a supplier service penalty by multiplying the days variance quantity by a percentage of the price. The % Open Past Due is the percentage of the ordered quantity not received by the promise date and beyond the receipt tolerance days. Blanket and Planned PO Status Report The Blanket and Planned PO Status Report can be used to review purchase order transactions for items you buy. The result is the quantity per day the supplier is in variance. Use the report to compare actual purchase percentages with sourcing percentage.

* Savings Analysis Reports a) Savings Analysis Report (by Category) The Savings Analysis Report (By Category) shows buyer performance by category. The report includes a price type Legend at the bottom of each page for the price type. If a quote is not defined. The Actual Amount is the product of the actual price listed on the purchase order line and the quantity ordered. Purchasing uses the list price. The report includes a price type Legend at the bottom of each page for the price type. * Cancellation Reports Use these reports to review all cancelled purchase orders and requisitions. particularly where you have defined multiple Mass Cancel batches: a) Cancelled Purchase Orders Report Oracle Financials E-Business Suite Release 12 Period End Procedures 57 . the line price was from the List Price. the line price was from the Market Price. and if the line price type is L. with negative figures in parentheses. with negative figures in parentheses. The Amount Saved is the negotiated amount less the actual amount. * Encumbrance Accounting Reports Encumbrance Detail Report The Encumbrance Detail Report can be used to review requisition and purchase order encumbrances for a range of accounts if the encumbrance option for requisitions or purchase orders has been enabled. Use this report to review the encumbered accounts. If a quote is not defined. The Negotiated Amount is the product of the price on the quotation and the quantity ordered. If the line price type is Q. If the line price type is M. the line price was from the List Price. The Negotiated Amount is the product of the price on the quotation and the quantity ordered. and there are entered and approved requisitions and purchases. If the line price type is M. Purchasing prints the product of the market price of the item ordered and the quantity ordered. and if the line price type is L. The Actual Amount is the product of the actual price listed on the purchase order line and the quantity ordered. the line price was from the Market Price. or list price to the actual price. b) Savings Analysis Report (by Buyer) The Savings Analysis Report (By Buyer) shows buyer performance by purchase order. The Amount Saved is the negotiated amount less the actual amount. Purchasing uses the list price. Use the report to compare the market. If the market price is not defined. quote. If the market price is not defined. If the line price type is Q. the line price was from the Quote. the line price was from the Quote. Purchasing prints the product of the market price of the item ordered and the quantity ordered.

b) Cancelled Requisitions Report Oracle Financials E-Business Suite Release 12 Period End Procedures 58 .

To avoid date entry error (when both periods are open) there is a profile option ‘INV: Transaction date validation’. Business Requirements The period close process for Oracle Inventory enables the summarizing of costs related to inventory and manufacturing for a given accounting period.Chapter 8 Oracle Inventory-Cost Management This chapter describes the procedures for performing period-end processing in Oracle Inventory Release 12. receipts. Independently open and close periods for each inventory organization. “close period status report”.g. packing slips in receiving). and adjustments have been entered and verify that no hard copy records exist. then the closure process is processed for the past month.Cycle Count Pending Approval Report Oracle Financials E-Business Suite Release 12 Period End Procedures 59 . Attention: For environments with a large number of organizations. Perform interim transfers to the General Ledger without closing the period. Complete All Transactions for the Period Being Closed Ensure that all issues. Note: Since Release 12. logistic and manufacturing systems need to be always open for worker transactions. Procedures The following steps are taken in performing period-end processing for Oracle Inventory: 1. Oracle Inventory and Oracle Cost Management provide the required features to affect the necessary period-end procedures to: Reconcile the inventory and work in process costs and values. Transfer inventory and manufacturing costs to the General Ledger. you can open / close many logistic organizations by batch program : “OPSR and CPSR open period status report”. Transfer summary or detail accounting information to the General Ledger. which means at month end. Attention: Usually. or are awaiting data entry(e. the next period is opened to allow key-in from the first day. Optional . Cost Management becomes an application module holding Inventory/Receiving/WIP accouting entries. shipping. These costs are then transferred to the General Ledger for posting.

pending material transactions. These must be resolved before the period is closed. depending on INV profile option “TPINV: Transaction Processing Mode”) * Move Transaction Manager (for IWIP) 3. once closed. cannot be re-opened. running this process prior to closing the period facilitates validating the interface transactions. Oracle Financials E-Business Suite Release 12 Period End Procedures 60 . Though the accounting period can be closed. Check Inventory and Work in Process Transaction Interfaces Check the Interface Managers window to ensure that there are no unprocessed background or concurrent programs. uncosted material transactions. The interface managers that need to be run are as follows: * Cost Manager (mandatory) * Material Transaction Manager (Optional. once it is closed these transactions cannot be processed in that period.2. and pending shop floor move transactions existing in this period. Attention: This process needs to be completed for each defined Inventory Organization. In case of error. and the accounting entries between ‘Deferred COGS account’ and ‘COGS account’ must be generated in INVCST. for the order-shipments which have been invoiced in AR. Any adjustments to the period can be made via new inventory transactions as required. 4. and then relaunch transactions using: * INV / Transactions / Pending transactions * INV/ Transactions / Transaction Open interface * OM / Shipping / Interfaces This check should be done during the month to avoid cumulative problems at month end before closing. and pending IWIP costing transactions existing in this period. For this purpose you need to run these 2 concurrent programs: * “Collect Revenue Recognition information” * “Generate COGS Recognition event” Run the ‘Create Accounting-Cost Management’ program up to the period end date before closing the period. correct the error at the source. * Resolution Recommended: Displays the number of pending receiving transactions. revenue recognition has been processed in AR. Transfer Summary or Detail Transactions If Order Management is used. Since a period. Check and fix pending Transactions Check and fix any rejected transactions from the Inventory Accounting Period Window: click on the pending button to display pending transactions. This will display transactions under the following statuses: * Resolution Required: Displays the number of unprocessed material transactions.

as a manual procedure. If Oracle Purchasing or Oracle Inventory are closed. Close the Current Inventory Period Closing the inventory period using the Inventory Accounting Periods window automatically transfers summary transactions to the GL interface table. Errored can be selected). The period close performs the following: * Closes the open period for Oracle Inventory and Oracle Work in Process.If the Create Accounting Program is run in Final Mode without transferring to GL then run the ‘Transfer Journal Entries to GL Cost Management’ which transfers the accounting to GL. journal entries associated with transactions. But no adjustments to that period can then be entered. open the next inventory period using the Inventory Accounting Periods window. since transactions cannot be posted to a closed period. * Creates summary or detail inventory accounting entries in the GL interface. a receipt cannot be entered for that period. click on the pending button to display any remaining pending transactions and make the appropriate resolutions. Attention: The Transfer Journal Entries to GL Cost Management Program transfers the accounting details for all the inventory organizations within a Ledger. and the period was closed. View accounting. 7. Draft Accounted. prior to closing the inventory period. to enable the running of purchase accruals to accrue expenses on un-invoiced receipts. Attention: If this step was by-passed. Attention: This process needs to be completed for each defined Inventory Organization. Oracle Financials E-Business Suite Release 12 Period End Procedures 61 .g. Attention: This process needs to be completed for each defined Inventory Organization. Oracle Payables is closed prior to closing Oracle Purchasing. This still allows miscellaneous transactions corrections in inventory. 5.Final Accounted. and a closed period cannot be re-opened. * Creates summary or detail work in process accounting entries in the GL interface. As explained in step 3 above. Open the Next Inventory Period Prior the first day of data entry. 6. and accounting events by accessing the Sub ledger Accounting user interface from the View Transactions window and various statuses (e. Oracle Purchasing should be closed before Oracle Inventory. a GL Transfer would automatically be initiated. Close the current Oracle Payables and Oracle Purchasing Periods Complete all steps required to close Oracle Payables and Oracle Purchasing. However.

the report displays the sub-inventory values at the end of that period. This. But Journal entries from products other than Oracle Inventory. valuation. may create discrepancies. Job close performs the necessary accounting for each job. Finally. Additional useful reports: a) Inventory Value Report You can see more sub-inventory balance details by running the Inventory Value Report. Use the Period Close Value Summary Report to see summary balances for subinventories. use this report to reconcile an account across several periods. If you run the report for an open period. The period-end values by sub-inventory are reported in the Period Close Summary Report. 8. along with the values in transit creates the period-end value for the current period. (Warning : these reports show the value at the point in time you run the report). These show quantity. or the Elemental Inventory Value Report.* Calculates period-end sub-inventory balances. b) Material Account Distribution Summary Report. Run Standard Period-End Reports and reconcile the Perpetual Inventory with GL Check that the perpetual inventory value up to the end of the period being closed matches the value reported in the General Ledger. If you run this report for a closed accounting period. If you detect unusual accounts or amounts. Oracle Financials E-Business Suite Release 12 Period End Procedures 62 . the report displays the sub-inventory value at the point in time you run the report. Use the Material Account Distribution Summary Report to verify inventory account activity against inventory valuation increases or decreases for the accounting period. The period close process automatically transfers all job costs and variances by GL account. Review inventory transaction values transferred to the General Ledger by GL batch. Warning: Closing an inventory period permanently closes the period and no further transactions can be charged to that period. b) Material Account Distribution Detail Report Use the Material Account Distribution Detail Report to view the accounts charged for inventory transactions. including variance calculations. Discrete jobs and certain non-standard jobs are closed separately. the period close process writes off any remaining balances and transfers any period costs to the General Ledger. use the Material Account Distribution Detail Report to print the transactions in detail. For expense non-standard jobs. and detailed item information for the sub-inventories specified. the period close adds the net transaction value for the current period to the previous period’s ending value. The balance normally matches with the GL balance. The following reports can be run to help with these reviews: a) Period Close Value Summary Report. For each sub-inventory.

check the work in process inventory balances against transactions with the WIP Account Distribution Report. and scrap. Detailed account information is available for specific accounts. The system groups the transactions by job or schedule. cost updates. by summary or detail. including resource. Validate the Work in Process Inventory If Oracle Work in Process is installed. or both to help reconcile the General Ledger. completions. GL batches. This information can be found using the Material Account Distribution reports in Oracle Inventory. by transaction type. Oracle Financials E-Business Suite Release 12 Period End Procedures 63 . overhead and outside processing charges. This report does not list material cost transactions such as issues. and orders the transactions by earliest transaction date. The WIP Account Distribution Report lists detailed account information for work in process cost transactions. and period close and job close variances.9.

The Calculate Gains and Losses process is performed independently for each depreciation book. it cannot be re-opened. Business Requirements At period end. Oracle Financials E-Business Suite Release 12 Period End Procedures 64 . Once a depreciation period in Oracle Assets has been closed. run depreciation for each asset book set up for the enterprise. Procedures The following steps are taken in performing period-end processing for Oracle Assets. the period end Depreciation Process will not complete.Chapter 9 Oracle Assets This chapter describes the procedures for performing period-end processing in Oracle Assets Release 12. Completing all transactions for Oracle Assets: * Prepare and Post Mass Additions * Complete Manual Additions * Complete Adjustments * Complete Retirements * Complete Transfers * Complete Reinstatements 2. Oracle Assets has only a single open depreciation period in each asset book. Assign All Assets to Distribution Lines If an asset has not been assigned to a distribution line. 1. Accounting can be created for Fixed Assets (FA) transactions and sent to GL on a continual basis throughout the period using the Create Accounting program after the introduction of SLA. and will not close the period. Run Calculate Gains and Losses (Optional) The Calculate Gains and Losses program for retirements can be submitted prior to running depreciation. The book and depreciation period are nominated on the Submit Request window. Complete All Transactions for the Period Being Closed Ensure that all transactions have been entered for the period being closed. Determine which assets have not been assigned to a distribution line by running the following report: Assets Not Assigned to Any Cost Centers Listing 3. Check that transactions are not being entered as Oracle Assets prevents transaction data entry while the Depreciation Run Process is running.

This process generates accounting and also enables transfer to and posting in GL. Oracle Financials E-Business Suite Release 12 Period End Procedures 65 . Oracle Assets gives you the option of closing the current period if you check the Close Period check box on the ‘Run Depreciation’ window. then the Tax Reserve Ledger Report is generated. Both Reserve Ledger Reports can also be run at any time. the retirements process can be run several times during the period to reduce the time for the depreciation process. The unassigned assets can then be assigned to distribution lines and the Depreciation process resubmitted. If the program is run in FINAL mode with POST as yes. calculates gains and losses for all retirements. This program replaces the ‘Create Journal Entries’ in Oracle Assets. and reporting programs off-line. the Run Depreciation process will end with an error status. Alternatively. The asset book and depreciation period are nominated on the Run Depreciation window. you cannot reopen it. Create Accounting Submit the Create Accounting process from SRS screen. If an asset has not been assigned to a distribution line. Note: Depreciation will be rolled back automatically if any activity is performed on a depreciated transaction. This program can be run in 3 modes: Draft. you can determine which assets were unassigned. Run Depreciation When you Run Depreciation. Oracle Assets does not close the period. This process submits concurrent requests to run the calculate gains and losses. If you do not check the Close Period check box when you run depreciation. Once the program closes the period. The Run Depreciation process will close the current depreciation period and open the next only if the Close Period checkbox is selected. When the process is run.For books with a large volume of assets. or you can review the Depreciation Program Report via the Requests window. 4. if the depreciation program is run for a Tax book. using the Submit Requests window. Oracle Assets automatically calculates depreciation for all assets. and then runs the appropriate Reserve Ledger Report. The Depreciation process only processes assets that have not already been processed. When the depreciation program is run for an Asset Corporate Book. the Calculate Gains and Losses program will be submitted as part of the Run Depreciation Process. The Run Depreciation process is performed independently for each asset book. depreciation. Final and Final Post. 5. However. Attention: Ensure that you have entered all transactions for the period before you run depreciation. This is valid only if the period is not closed. If all of your assets depreciate successfully. By using the depreciation log file. Oracle Assets automatically closes the period and opens the next period for the book. the Journal Entry Reserve Ledger Report will be generated.

Any alteration on a depreciated asset will result in an automatic rollback. please refer to the Oracle Assets User Guide. 6. The GL period for which journal entries are to be created must be open.then the entries will be automatically posted to the General Ledger. There is no need to run Depreciation before creating accounting transactions. Create Deferred Depreciation Journal Entries (Optional) Deferred depreciation is the difference in depreciation expense taken for an asset between a tax book and its associated corporate book. By default. transfers. This program creates adjusting journal entries to depreciation expense. Create deferred journal entries using the SLA Create Accounting Process. Warning: Journal entries cannot be created from asset budgeting books. create accounting will create accounting based on its rules and the workflow will not be used. on as many as five depreciation books at once. Attention: ‘Create Journal Entries’ program has now been replaced by ‘Create Accounting’ program. then run Transfer Journal Entries to GL – Assets later on. 8. For more information. Oracle Financials E-Business Suite Release 12 Period End Procedures 66 . In the second case workflow will be used to generate accounts. The depreciation expense journal entries can be created from an Asset Corporate or an Asset Tax book and transferred to the General Ledger. Note: Rollback happens at Asset Level in Release 12. or retirements. Rollback Depreciation There is no separate program as in Release 11i to perform the rollback. For more details. You can run the Create Accounting process as many times as necessary within a period. 7. This difference results from the use of accelerated depreciation methods in the tax book. and bonus reserve accounts when you enter prior period additions. accumulated depreciation accounts. quarter. please refer to the Oracle Assets User Guide. based on rules and in-built event class/entity model processes for deferred depreciation. Depreciation Projections (Optional) You can project depreciation expense for any number of future periods. Oracle Assets uses the ‘FA: Use Workflow Account Generation’ to make a decision on whether to use the workflow or not. unlike at Asset Book level as in Release 11i. Journal entries can be created for any period in the current fiscal year for which journal entries have not already been created. the customizations will have to be re-implemented using SLA or FA: Use Workflow Account Generation should be set as YES. on upgrade this profile option is set to ‘Yes’. Results can be summarized by year. Attention: If in 11i the FA Account Generator Workflow was customized. bonus expense. If the profile is set to ‘No’. If the program is run in FINAL mode with ‘Transfer to General Ledger’ as NO.

Review and Post Journal Entries If accounting was performed without the journal entries being posted. the Assets Journals will be posted automatically in the next scheduled posting run. * Balances Reports a) Cost Detail and Cost Summary Reports b) CIP Detail and CIP Summary Reports c) Reserve Detail and Reserve Summary Reports d) Revaluation Reserve Detail and Revaluation Reserve Summary Reports e) Account Analysis Report * Transaction Reports a) Asset Additions Report b) Cost Adjustments Report c) Asset Reclassification Report d) Asset Transfers Report e) Asset Retirements Report f) Reinstated Assets Report g) Cost Clearing Reconciliation Report * Drill Down Reports a) Drill Down Report– Oracle Financials E-Business Suite Release 12 Period End Procedures 67 . the Account Reconciliation Reserve Ledger Report can be run. 9.month. Post each journal entry batch using the Post Journals window in Oracle General Ledger to update the account balances. in Oracle General Ledger. review the unposted journal entries in the Enter Journals window. 10. Optionally. b) Tax Reserve Ledger Report Additionally. use the More Actions button to Post each Journal individually or if the source of Assets has been included in the Auto Post options. The results can be summarized also by cost centre or depreciation expense account. or any specified interval. Reconcile Oracle Assets to the General Ledger Using Reports * Reserve Ledger Reports a) Journal Entry Reserve Ledger – Reconcile with the Account Analysis with Payables Details Report.

In the first stage drilldown happens from GL to SLA. 11. From SLA drilldown can be performed to transaction level. * General Ledger Reports a) Unposted Journals Report– Run. The report enables detailed review of the account activity on a specific general ledger account. then your financial statements will also be inaccurate. The report gives detailed information of the asset transactions represents by a journal entry line. This can be done at cost centre level for direct comparison with the Asset Cost Summary and Reserve Summary reports.run the General Journals Report for Posting Status = Posted. If the asset inventory is inaccurate. d) Financial Statements Generator – It is recommended that you create a detailed Financial Statement Generator (FSG) for all asset accounts. The following reports can be reviewed when assessing the accuracy of the asset inventory: * Asset Additions By Cost Centre Report * Asset Additions Responsibility Report * Asset Disposals Responsibility Report * Asset Inventory Report * Asset Retirements by Cost Centre Report * Responsibility Reserve Ledger Report Oracle Financials E-Business Suite Release 12 Period End Procedures 68 . c) Account Analysis Report with Payables Detail – The ending balance of this report reconciles with the Reserve Summary Report ending balance. b) Account Drill Down Report– Reconcile journal entries to the General Ledger. Run Responsibility Reports (Optional) It is also important to ensure that your asset inventory is accurate.Reconcile the batch totals from this report with those of the General Journals Report in Oracle General Ledger run for posting status = ‘Unposted’.run the General Journals Report for Posting Status = Unposted to reconcile with the Drill Down reports. b) Posted Journals Report– Run. Note: Drilldown is a two-stage process.

for all money market products. 1.Chapter 10 Oracle Treasury This chapter describes the procedures for performing period-end processing in Oracle Treasury Release 12. Amortization and accruals adjustments are calculated incrementally for each batch period. Procedures The following steps are taken in performing period-end processing for Oracle Treasury. valuation. * Navigate to the Accruals window. These adjustments include amounts for settling derivatives. if necessary. You can automate steps 2-5 by running the Accounting Streamline Process concurrent program. validate them. Reversal entries are not required. * Choose the Calculate button. Revaluation is an optional step in the accounting process. rather than as an accumulating amount for multiple periods. and send payment instructions to the bank. Complete Daily Trading Activities Complete trading activities for the day. accrual and accounting for these transactions. Perform Revaluation Revaluation is the process of adjusting the rates and prices of your financial instruments to reflect the current market value and calculate the realized or unrealized profit and loss. Oracle Treasury facilitates settlement. Business Requirements Oracle Treasury is a comprehensive treasury solution that helps you effectively manage your investments. * Choose a Company. foreign exchange transactions and derivatives. such as Forward Rate Agreements (FRAs) and options. 2. If you set the ‘Accounting Perform Deal Revaluations company parameter’ to Yes. Oracle Financials E-Business Suite Release 12 Period End Procedures 69 . split by revenue and expense. * Choose a period or an existing Batch ID. manually or automatically. Once your financial transactions are captured in the system. debt. 3. Generate Accruals and Amortization You can generate amortizations and accruals adjustments. you must perform revaluations as part of the accounting process.

but you cannot change them. 5. delete them and review the corresponding financial instrument. Once you transfer your daily journals to General Ledger. use the Transfer Journals to GL window to transfer your journals from Treasury to General Ledger. view the generated journal entries. change the dates or GL accounts for your journal entries. Transfer Journals to General Ledger After you enter and verify all accounting changes for the journal. Once the financial instrument is correct. Attention: There is no integration yet with SubLedger Accounting (SLA). 4. Generate Journals Use the Daily Journals window to generate the daily journals for an accounting batch. * Authorize the results. If you find the results to be incorrect. Oracle Financials E-Business Suite Release 12 Period End Procedures 70 . You can view and delete these period adjustments. re-create the accruals. you cannot change any of the accounting for the batch in Treasury. and reallocate suspense journal entries to a GL account.* The accrual and amortization details for the financial transactions in the specified period appear. Treasury sends the journals directly to GL and not via SLA.

* Permanently Closed .Period is closed for processing. independent of the period/year end process. Special steps are required for Encumbrances. Usually used where modules are maintained in different periods.Period is available for data entry * Closed . if it is necessary to enter or modify accounting transactions for that period.The period has never been used. This will mean that you will need to select the responsibility relevant to both Ledgers when completing these tasks. Oracle Financials E-Business Suite Release 12 Period End Procedures 71 . Procedures The following steps are taken in performing period-end processing for Oracle General Ledger. Combined Basis Accounting If you have installed combined basis accounting. an accounting period is closed after all the accounting transactions have been completed for the period.No further processing is possible. Depending on the Ledger set/Data Access Set attached to a responsibility. Managers have the discretion to immediately close a period to prevent unauthorized processing. and transactions are likely to be posted across modules.The period is open to accept transactions from other modules. * Open . Note: The Period-End and Year-End processes are the same if Encumbrances are Not Used. A closed period can be re-opened (provided it has not been permanently closed). The periods can then be permanently closed as required. but can re re-opened if required. Suggestion: Periods are usually only ‘finally closed’ when all adjustments and reporting requirements for the prior financial year are finalized. Business Requirements Period End Close In Oracle General Ledger. then the steps detailed below will need to be completed for both your accrual and cash Ledgers.Chapter 11 Oracle General Ledger This chapter describes the procedures for performing period-end processing in Oracle General Ledger Release 12. but be able to re-open periods for post processing adjustments. For most modules you can view and select one of the following: * Never Opened . these tasks could be performed from a single responsibility. * Future Enterable .

Journal Import: * If not automatically completed. into Oracle General Ledger. 3. This process populates the GL_JE_BATCHES. Assets. Upload Journals from Web Applications Desktop Integrator (Web ADI) to Oracle General Ledger (Optional) Journal information can also be imported from spreadsheets into Oracle General Ledger using Web ADI. and GL_JE_LINES tables. Simply re-enter the source from which journal entry batches are to be imported. Note: If journal import fails when importing from the sub ledger modules. except at year-end. Treasury and Projects) have been transferred to Oracle General Ledger. and is run automatically. prior to opening the first period of the new financial year. Journals are comprised of batch level. * Make the necessary corrections . Run Create Accounting program or the appropriate program (based on previous runs of Create Accounting) to transfer data from subledgers. so that there would not be any data left in the GL_INTERFACE table. run in Oracle General Ledger. At year-end. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger Journals are created to load accounting information into Oracle General Ledger. and journal entry line level. Order Management. Attention: Leave sufficient time to re-import any journal entries not successfully imported from the feeder systems. it is recommended that you complete all period end processing. Cash Management. Then update and post them. GL_JE_HEADERS. Determine the source(s) for these error batches. when the profile option ‘SLA:Disable Journal Import’ is set to ‘No’. Oracle Financials E-Business Suite Release 12 Period End Procedures 72 .1. Receivables. data will be rolled back to SLA tables. 2. * Re-import these corrected journal entry batches from the GL_INTERFACE table. updates the GL_BALANCES table. via the Correct Journal Import Data window. Attention: The journal posting process. Ensure the Next Accounting Period Status is set to Future Entry Set the status of the next accounting period to ‘Future Entry’ if it is not already. and retrieve the run ID from the Journal Import Execution Report. The Create Accounting process of SLA submits Journal Import Process (based on appropriate parameters as discussed in previous sections). Inventory. Maintain period-end exchange rates for all foreign currencies to which you want to translate. review the Journal Import Execution Report to identify which journal entry batches were not successfully imported. * Delete any error journal entry batches. information. Ensure that the accounting information from the sub-ledgers (Oracle Payables. Purchasing.in the GL_INTERFACE table. journal entry level.

or via reports. including any adjusting entries.General Report Oracle Financials E-Business Suite Release 12 Period End Procedures 73 . Update journal entries as appropriate. 5. If you are using Oracle Financials Accounting Hub to generate accounting for your 3rd party systems. perform any journal entry updates. Post step-down allocations in the correct order (i.4. This process can be submitted for foreign currency and for multiple ledgers. provided the access is available. Submit the process to generate the Reversal Journals. Following review of journal entry batches. use the GL_Interface. Ensure that all entries to the source accounting flexfields used in the MassAllocation Journal definitions are finalized for the current period. Reviewing journal entries prior to posting minimizes the number of corrections and changes after posting. Review and Verify Journal Details of Unposted Journal Entries Review any remaining unposted journal entries for the current period. Generate Recurring Journals (Optional) Select all the Recurring Journals that require generation for the current period. for each successive level of allocation entry). Note: If you are loading accounting journals for 3rd party systems directly to Oracle General Ledger. Attention: Journal entries can be reviewed on-line. Standard Journal reports available included: a) Journal Batch Summary Report b) Journals . the accounting journal details will automatically by stored in the XLA tables. perform the calculation and post. Generate Reversal Journals (Optional) Select all the Journals to be reversed.e. 8. This process can be run across ledgers. * Run the Journal Import process for these sources and ensure the resulting Journal Entries are posted either automatically by AutoPost or manually. non-Oracle subledgers has been transferred to Oracle General Ledger. before posting. Generate Mass Allocation Journals (Optional) Select the Mass Allocation Journals that require generation for the current period. Submit the process to generate the Recurring Journals. This process can be run across ledgers and across currencies. prior to being transferred (in summary or detail) and imported into Oracle General Ledger. 6. prior to generating the journal. Complete Non-Oracle Sub-ledger Interfaces to Oracle General Ledger (Optional: only required if you want to post from non-Oracle systems) Following the same procedures as for Step 2: * Ensure that the accounting information from any site specific. 7.

and the corrected journal entries re-submitted for posting.Line Report e) Tax Journals Report f) General Ledger . b) Period Status Post Actual batches to open periods. Review the results of the post: * The Posting Execution Report facilitates review of the results of journal entry posting.Entry Report d) Journals . * Run the Journals . Locate the problems with unpostable journal entry batches using the following information: a) Control Total When using a control total. Post updated journal entries. recurring and allocation journals. ensure that the debits and credits equal the control total.General Report with a Posting Status of Error Journals to review error journal entry batches and their journal entries.c) Journals . Oracle General Ledger generates this report every time posting of journal entry batches occurs. Post Encumbrance batches to any period up to the last period in the latest open encumbrance year. c) Batch Status Oracle General Ledger describes the problems with unpostable batches. Oracle Financials E-Business Suite Release 12 Period End Procedures 74 . Update unpostable journal entries. Post All Journal Batches Post all journal entries for the current period.Entered Currency g) Journals by Document Number Report (when document sequencing is used) 9. This report indicates any errors in journal entries or journal entry lines were discovered during the posting process. Post Budget batches to any period in an open budget year. Common reasons for unpostable batches are: * Control total violations * Posting to unopened periods * Unbalanced journal entries Attention: All errors in the journal entry batches must be fixed. including reversal.

Detail Trial Balance Report b) Income Statements c) Gross Margin Analysis 11. Request financial reports such as: a) Balance Sheets e. 12. Run the Period Close Exceptions Report This is a new step in Release 12. and ensure a follow-up with relevant colleagues if any exceptions are identified. Translatae account balances to any defined currency. Whichever you choose you can run your extract programs to extract the data from General Ledger to the consolidation systems. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) To maintain a consistent audit trail. Revalue Balances (Optional) Revalue account balances to update functional currency equivalents. Maintain average exchange rates for all foreign currencies to which you want to translate. 10. Translate Balances (Optional) Define any new currencies to which accounting balances are to be translated. it is advisable to create a standard period-end accounting report set that can be run at each period end. * Consolidate within ledgers a) Enter consolidating journal entries Oracle Financials E-Business Suite Release 12 Period End Procedures 75 . Consolidate Ledgers (Optional) Attention: You can consolidate using Global Consolidation System. discard any obsolete versions of your report for that accounting period. The General Ledger accounting can run the Period Close Exceptions report to double check that there are no outstanding transactions in the subledgers and GL. 13. Maintain historical rates or amounts for any owner’s equity accounts to be translated. Suggestion: To prevent confusing different versions of accounting reports for a specific accounting period. Custom accounting reports can be created by using the ‘Financial Statement Generator (FSG)’.g.9a. Financial Consolidation Hub or the Hyperion Consolidation functionality. Maintain period-end exchange rates for all foreign currencies to which you want to translate.

e) Report on this consolidated ledger using FSG’s. Recurring Journals. intercompany sales etc. c) Define a reporting hierarchy that consolidates all the companies.define mapping rules to eliminated intercompany receivables.use formulas b) Post consolidating journal entries. d) Define financial statements with the reporting hierarchy. use recurring journal entry formulas. investments in subsidiaries. * Example of consolidation across ledgers when sharing same COA and Calendar (Using Ledger Set and access granted via ‘Data Access Set’): a) Define consolidated FSG b) Perform revaluation and translations across ledgers c) Enter consolidated and eliminating entries d) Report on FSG by selecting the ledger set option while running * Example of consolidation across ledgers using the Global Consolidation System (GCS): a) Define consolidations. and build reports with a separate column for ‘consolidating entries’. Oracle Financials E-Business Suite Release 12 Period End Procedures 76 . Suggestion: To automatically generate the amounts and accounts for consolidating and eliminating journal entries. d) Enter consolidated and eliminating entries. f) Analyze results using drill-down capability from Parent ledger to Subsidiary ledger/s. payables. Attention: All errors in the journal entry batches must be fixed. Suggestion: To produce financial reports that reconcile your consolidating companies with the consolidated totals. enter the consolidating entries to a separate company. b) Perform revaluation and translation of foreign subsidiaries as required. c) Run consolidations.The following two methods can be used to create eliminating entries for multiple companies using a single Ledger: Automatic Eliminating Entries . and the corrected journal entries re-submitted for posting.

b) Accounts Analysis Reports These reports list the accumulated balances of a range of Accounting Flexfields and all journal entries that affect that range. and accounts analysis reports to facilitate reconciliation of Oracle General Ledger with the other Financials and manufacturing modules. The report provides detailed information on each journal entry line including source. you can selectively cross-reference transactions in GL with each other by entering reconciliation reference information at the journal line level. Create and post adjusting journals to correct errors in account balances. which includes the source. With General Ledger Entry Reconciliation. batch name. These reports list beginning and ending account balances and all journal entry lines affecting each account balance. When the balance for group of transactions is zero you can mark the transaction as reconciled. and description. and descriptions and reference information for each journal entry line. a) General Ledger Reports General Ledger Reports facilitate tracing back each transaction to the original source. Adjust journals to correct any errors in the journals. online reconciliation report provides drill-down to underlying sources and source journals for easy identification of reconciliation differences. general journals. * Review Detail Account Balances On-line * Review Account Balances via Reports Request accounting reports such as general ledgers. category and date. improved online reconciliation reporting. You can report on foreign currency. and is also fully integrated with SLA. posted. * Clear Suspense Accounts Oracle Financials E-Business Suite Release 12 Period End Procedures 77 . * Journal Reconciliation: General Ledger Entry Reconciliation lets you reconcile transactions in GL accounts that should balance to zero.13a. Review and Correct Balances (Perform Reconciliations) Oracle General Ledger should be reconciled with all other modules. d) Journal Reports These reports print journal entry batches and include journal entry subtotals. Detailed information is provided for each journal entry line. Reconcile Intercompany (optional) Advanced Global Intercompany System in Release 12 provides more advanced features such as automatic generation of intercompany invoices in AP and AR. 14. c) Trial Balance Reports Use trial balance reports to review account balances and activity in summary or detail. unposted or error journal entries and report on a specific batch or on journal entries from a specific source. trial balances. A new.

Attention: The details of posted journals cannot be changed. and manual accruals can be entered into Oracle General Ledger at this point also.Examine the General Ledger and account analysis reports to identify the source of entries to the suspense accounts. Debtors Control. Creditors Control. Open the Next Oracle General Ledger Period Open the next General Ledger accounting period in the Open and Close Periods window. create and post adjusting and reversing journals. Perform Final Adjustments Enter and Post any final adjustments as required by the organization. except to mark or unmark for reversal. if later adjustments to the balances for that period may be applicable. Other journal entry adjustments. This is controlled by GL: Data Access Set profile option. For more information please refer to Oracle General Ledger User guide. * Check other key system accounts have not been transacted by ad-hoc journals. This operation can be performed across ledgers provided ‘Data Access Set’ grants access. Oracle Financials E-Business Suite Release 12 Period End Procedures 78 . 17. An incorrectly entered posted journal must be reversed to back-out the accounting of the original posted journal. for example. write-offs (refer Accrual Write-Off Report). Attention: If suspense accounting is not allowed. With a data access set across ledgers programs can be run for multiple ledgers from a single responsibility. Determine which differences are errors requiring adjustment to the General Ledger. Choose status ‘Open’ to open a new accounting period. Enter Adjustments and / or Accruals and Post To correct errors in account balances made by posting incorrect journals. 16. which means that the period cannot be re-opened in the future. * Reconcile Subsidiary Ledgers Identify differences between subsidiary ledgers and the General Ledger. Intercompany accounts. etc. Close the Current Oracle General Ledger Period Close the current GL accounting period in the Open and Close Periods window. 15. for example. or to re-open a previously soft closed period to enable adjustments to be made. This step will need to be repeated for each ledger unless a data access set is setup to give access to multiple ledgers. Oracle General Ledger will not post out-of-balance batches. or ‘permanently closed’. Determine the adjusting entries required to net these accounts to zero. 18. The period can be ‘soft closed’.

* Carry forward encumbrances. Other facilities available: Oracle Financials E-Business Suite Release 12 Period End Procedures 79 . Run final Financial Statement Generator Reports (FSG) or Report Sets as required by the organization including Income Statements and Balance Sheets. With a data access set across ledgers programs can be run for multiple ledgers from a single responsibility. and export the data to a tab delimited or HTML file. 19. Run Financial Reports for the Closed Period Run a final Trial Balance Report. 20. The Tax Reporting Ledger consists of accounting information created in Oracle Receivables. The carry forward process enables managers to perform any of the following: * Carry forward encumbrances for existing transactions (purchases/requisitions). The Financial Tax Register uses this data to generate Tax Register reports using the Rxi reporting tool. publish the report in different formats.Generate and post reversal journals that were entered in the prior period. Any Journals entered into this period while it had a status of Future Enterable. and the encumbered budget. The Financial Tax Register can be used to view the output from the Tax Reporting Ledger using Reports Exchange and Application Desktop Integrator (ADI). For example any Oracle Purchasing receipted accruals and manual accruals. Using these products you can change the layout of the report. Oracle Payables. which is required to be reported to the relevant Tax Authority. This step will need to be repeated for each ledger unless a data access set is setup to give access to multiple ledgers. * Carry forward the funds available as at the end of the year. Perform Encumbrance Year End Procedures (Optional) Oracle Financials provides a number of facilities for the processing of outstanding encumbrances as part of year-end processing. FSGs can also be published via the Application Desktop Integrator (ADI). Run Reports for Tax Reporting Purposes (Optional) A variety of standard reports can be used to provide tax information. The default processing for Oracle Financials at year end is to extinguish any outstanding encumbrances/ unused funds when you close the last period of the Financial Year within the General Ledger application. including withholding tax. and Oracle General Ledger. can now be posted as the period now has a status of Open. This is controlled by GL: Data Access Set profile option. The following tax registers are available: a) Deferred Output Tax Register b) Recoverable and Non-Recoverable Tax Registers c) Single Cross Product Tax Register d) Standard Input and Output Tax Registers 21.

Obligation etc. * From/To Budget and Budget Organization. Verify that the next year budget figures have been entered. Commitment. c) Run Year End Carry Forward This process enables you to determine the criteria that you want to use for carrying forward your encumbrances The year-end carry forward is normally completed in two steps: 1) Perform the Year End Carry Forward in Preview mode 2) Perform the Year End Carry Forward without selecting the Preview option Within the Year End Carry Forward form. Define Summary Accounts. Encumbrances and the Encumbered Budget. * Carry forward budgets into the current appropriation budget. Attention: Ensure that the budget that you use is inclusive of the periods for the next budget year that you require Attention: Ensure that the calendar periods for the next budget year have been created prior to running this step. Mass budget processing also allows you to combine these budgets. or to a separate budget to identify between current year and carry forward amounts if required. or Funds Available as the basis for the Carry forward * Encumbrance Type . you may also need to update the following: Define Budget Organizations. you can select a wide range of criteria for carrying forward balances: * Carry Forward Rule . or select the encumbrance type that you require i. including Carry Forward. b) Open the next budget year Use the Define Budget window to define a budget for the next budget period.This rule enables you to select Encumbrances Only. where summary templates are used as the basis for the budgetary control procedures. To perform Encumbrance year-end procedures.e. you must complete each of the following steps: a) Open the next encumbrance year Use the Open and Close Periods window to open the next encumbrance year. If you define a new budget for the purposes of the next year budgetary control.Select the budgets where they are different Oracle Financials E-Business Suite Release 12 Period End Procedures 80 . where you have attached the funding budget to defined account ranges within this form.Select ‘All’ for all encumbrances.* Use mass allocations to bring forward part of the funds available.

Select the range of relevant accounting flexfields to be carried forward. Oracle Financials E-Business Suite Release 12 Period End Procedures 81 .* Accounting Flexfield Ranges .

Check and fix pending Transactions. Close the Current Oracle Payables Period 3. Review & Resolve Amounts to Post to the General Ledger 4. Transfer All Approved Invoices and Payments. Identify and Review Un-invoiced Receipts (Period-End Accruals) 6. 3.Review Customer Acceptances (Optional) 6. 1. Review the Payables to General Ledger Posting Process After Completion 7. Review Open Orders and Check the Workflow Status 4.Review Discounts 7. Follow Up Outstanding Invoices 1. Generate Journals 5. Order Management 1. Review Held Orders 3. Complete Daily Cash Management Activities 5. Purchasing 8. 2. Ensure all Interfaces are Completed for the Period (Optional) 3.Review Back Orders 1. Submit the Unaccounted Transactions Sweep Program 8. an indication of the order in which the steps should be undertaken. Generate Accruals and Amortization 4. Change the Current Oracle Projects Period Status from Open to Pending Close 8. Receivables 7. Run the Payables Approval Process for All Invoices 1. Projects 3. Transfer Journals to General Ledger 5. General Ledger 1. 82 . Check Inventory and Work In Process Transaction Interfaces. 2. Payables 6.Review and Correct Order Exceptions Oracle Financials Release 12 Period End Procedures Error! No text of specified style in document. Cash Management 1. Complete the Oracle PayablesPeriod End Process 7. Complete Daily Trading Activities 2. to the General Ledger 6. Ensure the Next Accounting Period Status is Set to Future Entry 1. Treasury 11. Reconcile Payments to Bank Statement Activity for the Period 5. Complete All Transactions for the Period Being Closed. Review the Current and Future Commitments (Optional) 3. Complete All Transactions for the Period Being Closed 2. 9.Summary The following table displays a summary of the period-end procedures for each of the Financials applications detailed in the preceding chapters and. Follow up Receipts-Check with Suppliers 5. Perform Revaluation 2. Inventory / Cost Management.Chapter 12 Period End Processing . Complete All Transactions for the Period Being Closed 2. Review the Outstanding and Overdue Purchase Orders (Optional) 4. Assets 10. Complete All Transactions for the Period Being Closed 4.

Run the Generate Cost Accounting Events Program 7. Treasury 11.2.Generate Invoices 5. Load Bank Statements 3. Complete All Transactions for the Period Being Closed 6.Interface Transactions to Other Applications 2. Order Management 4. Transfer Summary or Detail Transactions 9. Assign All Assets to Distribution Lines 5. (Optional) 1. General Ledger 2. Complete Bank Transfers 7. Payables 6. Accrue Uninvoiced Receipts 1.Period End Process 10. Create Miscellaneous Transactions 6a. Generate Sweep Transactions 4. Reconcile Oracle Payables Activity for the Period 11.Perpetual Accruals 10. Run Mass Additions Transfer to Oracle Assets 9.Run Generation Revenue Accounting Events Process 11. Review AutoReconciliation Execution Report 9.Generate Draft Revenue for All Projects 9. 9. Assets 10. Complete All Transactions for the Period Being Closed 2.Review and Release Revenue for All Projects 10. Purchasing 8. Open the Next Oracle Projects Period 3. Complete All Maintenance Activities 4. Generate Bank Statement Cashflows 8. Inventory / Cost Management. Run Receipt Accruals . Reconcile Transaction Activity for the Period 3. Reconcile Bank Statements 6. Run the Cost Distribution Processes 6a. Projects 3.Run Create Accounting 12. Cash Management 5. Complete All Transactions for the Period Being Closed 2. Reconcile to Inventory 4. Review the Unapplied Receipts Register 8. Reconcile Outstanding Customer Balances 4. Receivables 7. Run Maintenance Processes 5. Open the Next Inventory Period Oracle Financials E-Business Suite Release 12 Period End Procedures 83 . Reconcile Accounts . Perform Year End Encumbrance Processing.

Run Period Close Exceptions and Tieback Reports 8.Restore Access to User Maintenance Activities 20. Run Depreciation 11. Run Transactions Available for Reconciliation Report 11. Inventory / Cost Management. Treasury 11. Recocncile Cost Distribution Lines with General Ledger (Optional) 21. Run Responsibility Reports (Optional) 11. Run Bank Statement Detail Report 12. Cash Management 5. Order Management 10. Review the Account Analysis Report 16. Resolve Exceptions on the AutoReconciliation Execution Report 9. Depreciation Projections (Optional) 12. Validate the Work in Process Inventory 5. Run Standard Period End Reports and reconcile the Perpertual Inventory with GL 9. Run Calculate Gains and Losses (Optional) 4. Purchasing 8. Create Accounting 14. Create Deferred Depreciation Journal Entries (Optional) 8. Review the Subledger Period Close Exceptions Report 13. Close the Current Oracle Payables and Oracle Purchasing Periods 7. Close the Current Oracle Receivables Period 12.2. Open the Next Oracle Purchasing Period. Rollback Depreciation 15. Permanently Close the Oracle Projects Period (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures . Payables 6. Reconcile Oracle Assets to Oracle General Ledger Using Reports. 11. Run Standard Period End Reports (Optional) 7. 6. Post to the General Ledger 12. Run Final Project Costing and Revenue Management Reports 16. Receivables 7. 3. Close the Current Inventory Period 9.Update Project Summary Amounts 10. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3.Advance the PA Reporting Period (optional) 18. Projects 3. Third Party Balances Report 2. Resolve Unreconciled Statement Lines 9. Reconcile the General Ledger Transfer Process 6. Reconcile Receipts to Bank Statement Activity for the Period 7. Run Standard Period End Reports 8. Review and Post Journal Entries 10. Upload Journals from ADI (Applications Desktop Integrator) 84 19.Change the Current Oracle Projects Period Status from Pending Close to Closed 17. Reconcile receipts. 8. Correct any Invalid Entries to the General Ledger Cash Account (Optional) 9. Open the Next Oracle Payables Period 6.Transfer Invoices to Oracle Receivables 12. Assets 10. Post to General Ledger 13. Reconcile the Journal Import Process 10. Reconcile to Oracle Receivables (Optional) 13. Run the GL Reconciliation Report 14. Print Invoices 13. Close the Current Oracle Purchasing Period. 11. Create Service Contracts (Optional) 4. General Ledger 5. Run the Account Analysis Report for the General Ledger Cash Account 15.

General Ledger to Oracle General Ledger (optional) 14.2. Generate Mass Allocation Journals (Optional) 8. 9. Run Reports for Tax Reporting Purposes (Optional) 4. Purchasing 8. Treasury 11. Receivables 7. Run Reports for Tax Reporting Purposes (Optional) 14. Payables 6. Assets 10. Generate Recurring Journals (Optional) 7. Inventory / Cost Management. Revalue Balances (Optional) 12. Review the Unposted Items Report 16. Open the Next Oracle Receivables Period 18. Complete NonOracle Sub-ledger Interfaces to Oracle General Ledger (Optional) 5. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) 11. Review and Verify Journal Details of Unposted Journal Entries 9. Reconcile Intercompany (optional) 14. Review Account Analysis Report 17. Post All Journal Batches 9a. Projects 3. Run the Key Indicators Report (Optional) 15. Review and Correct Balances (Perform Reconciliations) Oracle Financials E-Business Suite Release 12 Period End Procedures 85 . Run the Period Close Exceptions Report 10. Consolidate Ledgers (Optional) 13a. Generate Reversal Journals (Optional) 6. Reconcile Posted Journal Entries 13. Translate Balances (Optional) 13. Order Management 4. Cash Management 5.

General Ledger 15. Inventory / Cost Management. Run Financial Reports for the Closed Period 20. Enter Adjustments and / or Accruals and Post 16. Run Reports for Tax Reporting Purposes (Optional) 21. 9. Payables 6.2. Perform Encumbrance Year End Procedures (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures 86 . Treasury 11. Order Management 4. Cash Management 5. Open the Next Oracle General Ledger Period 19. Projects 3. Close the Current Oracle General Ledger Period 18. Receivables 7. Assets 10. Purchasing 8. Perform Final Adjustments 17.

1 728871.Appendix: More Information Related My Oracle Support Information The following My Oracle Support Information can be reviewed for additional information on period end procedures.1 604739.0.1 579373.7:00 pm MDT (Conf. Document Title Doc ID AR: What are the recommended patches for AR-GL Posting. Reconciliation and Data Integrity Issues? 'FAQs' for Period Close and Unaccounted Transactions topic in Oracle Payables GL_DATE Difference On R12.1 740297.1 437422. GL Transfer. Key: R12) November 19 SLA: Troubleshooting the AP TO GL Reconciliation Subledger Accounting (SLA): FAQ for Support Engineers 749679.4 Reconciliation Reports On Standard Cash Receipt. Period Close and Trial Balance 'How To' documents R12 SLA: New R12 Payables Trial Balance -.1 605707.1 What Is The Period Close Process For Oracle Assets In 557948.1 436128.1 732928.1 579631.1 579836.1 751830.1 759002.1 761502.1 743390.1 Release 12? Oracle Financials Release 12 Period End Procedures 87 .1 558421.1 Useful Articles for R12 General Ledger Support Engineers 369993.aka Open Account AP Balances Listing R12 Trial Balance FAQs R12 Troubleshooting Accounting Issues (in Payables) R12 Troubleshooting Period Close in Payables R12: Oracle Financials Year-End Close and Reconciliation Resources R12: The Differences between the AP Trial Balance in R12 and 11i Release 12 Close Process & Reconciliation .1 735522. How To Diagnose And Reconcile R12 Inventory AP Accrual Transactions Using Reconciliation Reports How To Diagnose Issues With Create Accounting Process For Procure To Pay Cycle in R12 Period Close Reconciliation Report Is Showing Unusual Discrepancy R12 Accounting FAQ's R12 Accounting.

Mien-Lin Tan. Worldwide Inquiries: Phone: +1. Simer Sahani. Henk Brons Oracle Corporation World Headquarters 500 Oracle Parkway Redwood Shores. Kannan Tarakad.A. whether expressed orally or implied in law. Oracle and/or its affiliates.S. Helle Hennings. Other names may be trademarks of their respective owners. Lucia Scaltriti. Oracle Financials Release 12 Period End Procedures 88 . Barbara Fox. Murali Voora. Julia Baeva. Ashish Pathak. All rights reserved. for any purpose.506. Amrita Mehrok.com Copyright © 2009. This document is provided for information purposes only and the contents hereof are subject to change without notice. Chris Cianciolo.Oracle Financials Release 12 Period End Procedures June 2009 Author: Oracle Consulting Contributing Authors and Reviewers: Suneel Bhaskar. electronic or mechanical. including implied warranties and conditions of merchantability or fitness for a particular purpose. This document is not warranted to be error-free.650. without our prior written permission. Sarah Bowen.7000 Fax: +1. Menno Koomen. Ramaswamy Krishnamurti. We specifically disclaim any liability with respect to this document and no contractual obligations are formed either directly or indirectly by this document. Oracle is a registered trademark of Oracle Corporation and/or its affiliates. This document may not be reproduced or transmitted in any form or by any means. CA 94065 U. Terrance Wampler. nor subject to any other warranties or conditions. Bertrand Vuigner.506.7200 oracle.650. Bill Tokheim. Elise Mattei.

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