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

...............38 17................................................................29 13................................................................ Run the Cost Distribution Processes............................................ Open the Next Oracle Payables Period .. 40 1.......................................... Run Reports for Tax Reporting Purposes (Optional)....34 6.................................................... Run Generation Revenue Accounting Events Process.................... Run Create Accounting to Process Revenue Accounting Events ...................33 3...................................................................................................... Complete All Transactions for the Period Being Closed .....................................................34 5.. Change the Current Oracle Projects Period Status from Open to Pending Close.................................. Reconcile Oracle Payables Activity for the Period ...........36 8.................................................... Close the Current Oracle Payables Period ................................ Run Final Project Costing and Revenue Management Reports ..22 2........................................... Reconcile Cost Distribution Lines with General Ledger (Optional)...........................................37 14.......................40 2.................................................23 3... Run the Payables Approval Process for All Invoices ..........................26 10....38 15............................33 2.................. Generate Invoices.......................................Business Requirements ..... 40 Business Requirements .......................................................... Review and Release Revenue for All Projects.................................26 9......................... 22 Procedures .............36 7............................................. Restore Access to User Maintenance Activities .......... Run Maintenance Processes......................................37 12.........................................................................................32 General Exception Handling at Period End .......... Reconcile Transaction Activity for the Period.................................... Reconcile Payments to Bank Statement Activity for the Period................................................................................ 22 1......40 3.......... Generate Draft Revenue for All Projects .......... Run the Generate Cost Accounting Events Program ......................37 10.30 CHAPTER 5 ORACLE PROJECTS .......................................................................................................................................... Complete All Transactions for the Period Being Closed .............................................................................................................. Complete all Maintenance Activities....39 20......................................................................23 4.... .....................................................................39 CHAPTER 6 ORACLE RECEIVABLES............................................ Accrue Uninvoiced Receipts............................................................................................................................................................................................................................................ Review and Resolve Amounts to Post to the General Ledger ...... 32 Project Periods and General Ledger Periods............................................................................29 12................................................................................................................................................................................29 14............................... 32 Business Requirements ................................................ Review the Payables to General Ledger Posting process After Completion.........................25 8.............................................................. Transfer All Approved Invoices and Payments to the General Ledger.......................................33 Procedures ...................... Submit the Unaccounted Transactions Sweep Program ...................... Interface Cost Transactions to Other Applications ....................39 18..............................................................................................................................................................................................................................................................39 21... Run Period Close Exceptions and Tieback Reports ..........................24 6............................................................................... Transfer Invoices to Oracle Receivables....37 9........................................ Complete All Transactions for the Period Being Closed ....... Run the Key Indicators Report (Optional) ...........................33 4.................................................................................... Open the Next Oracle Projects Period .............................. Run Mass Additions Transfer to Oracle Assets ................ Reconcile Outstanding Customer Balances .............................25 7....37 13............ 40 Procedures .......................................................... Update Project Summary Amounts..38 16.......... Advance the PA Reporting Period (Optional) ............................................. Permanently Close the Oracle Projects Period (Optional) ....................................................................................35 6a...............................42 Oracle Financials E-Business Suite Release 12 Period End Procedures ..................26 11.....................................................32 Period Statuses ......................................................................................................................................................... 33 1....................................................................39 19.................24 5..........37 11...... Change the Current Oracle Projects Period Status from Pending Close to Closed ........

.......................................64 2..........................................64 3....63 CHAPTER 9 ORACLE ASSETS.................................................50 9..............................................55 12.........................................................................................................................................................................60 5............................................................................. Post to the General Ledger............................................................................... Reconcile Accrual Accounts .............................................................................................. Open the Next Oracle Receivables Period ..............44 8...................................... Third Party Balances Report ........... 64 Procedures ................................................... Run the Receipt Accruals ..............................60 3...............................................64 4..................................................... Run Standard Period-End Reports and reconcile the Perpetual Inventory with GL .....................55 CHAPTER 8 ORACLE INVENTORY-COST MANAGEMENT..................................... 48 1.............................47 18........................................ Review the Unapplied Receipts Register..................................................................................................................................................................................................................................................44 9.................................................................................. Reconcile the General Ledger Transfer Process ...................... Reconcile the Journal Import Process ................65 Oracle Financials E-Business Suite Release 12 Period End Procedures .45 10....................................... Complete All Transactions for the Period Being Closed ...................Check With Suppliers ......................45 11............... Close the Current Oracle Receivables Period ..........Period End Process ....46 13...........................48 2........................................ Print Invoices .......... 64 Business Requirements ....................................................................................................49 4................................................................. Review the Subledger Period Close Exceptions Report ..............4. Reconcile Receipts to Bank Statement Activity for the Period ... 48 Procedures .......................Perpetual Accruals ..48 3...........61 8......................... Run Depreciation ............................................. Review Account Analysis Report .............59 2....................................................................................................................................................................................... 59 Procedures .................. Close the Current Inventory Period............................................................ 48 Business Requirements .....................................................53 11....................................................................................43 5.............. Perform Year End Encumbrance Processing (Optional) ...............60 4.....................61 7......................... Open the Next Oracle Purchasing Period ............................................49 6....................................................................... Complete the Oracle Payables Period-End Process ........................... Review the Unposted Items Report ..................................... Assign All Assets to Distribution Lines........ Run Calculate Gains and Losses (Optional) ....................................................................................................61 6.............................. 59 Business Requirements ............................................................ Transfer Summary or Detail Transactions .................45 12.....................................49 7.................................... Check Inventory and Work in Process Transaction Interfaces ................................................................................................................................................................................... Review the Outstanding and Overdue Purchase Orders (Optional)....................................................................................47 CHAPTER 7 ORACLE PURCHASING ........................ Reconcile Posted Journal Entries...................................43 6............................................................49 5.......................................................................... Open the Next Inventory Period ............ Run Reports for Tax Reporting Purposes (Optional)............................. Follow Up Receipts .................................. Close the current Oracle Payables and Oracle Purchasing Periods.......................49 8............ Close the Current Oracle Purchasing Period...............44 7................46 17.................................................................................. Identify and Review Un-invoiced Receipts (Period-End Accruals) .................................. Complete All Transactions for the Period Being Closed ... Review the Current and Future Commitments (Optional)................50 10............................ Check and fix pending Transactions......................62 9............................................... Reconcile Receipts.................... Complete All Transactions for the Period Being Closed ......................................46 16..............................................................................................................55 13............................................... Run Standard Period End Reports (Optional)................................................................................................ 64 1..................................................... Follow Up on Outstanding Invoices .....................................................................46 14....................................... 59 1......... Validate the Work in Process Inventory .....46 15..

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

so that you can maintain a simple chart of accounts and store only what is needed for GL reporting and analysis. • The moment you need to access more detailed information. It behaves like a detailed version of your general ledger and provides a rich store of information for reporting and analysis. for internal and external audit purposes. and for ease of drilldown. 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. Oracle Financials Release 12 Period End Procedures 8 . online or as a background batch process. 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. Subledger Accounting stores subledger balances and subledger journals for all of your subledgers that require accounting. • It allows your general ledger to be free of extraneous data. Subledger Accounting helps to maintain a common link between General Ledger (GL) balances and underlying transactions automatically.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. Subledger Accounting provides a comprehensive view of all subledger accounting data. Whenever you want to account for your subledger transactions. • Just as Oracle General Ledger stores balances and journals. Subledger Accounting offers a new model between the subledgers and GL. the accounting is generated by Subledger Accounting.

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

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

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

since many programs. These processes. Order Management provides seeded close line and close order workflow sub-processes to close the order header and line. appropriate actions should be undertaken to finalize the Order Workflows and close these Sales Orders. respectively. Procedures The following steps are taken in performing period-end processing for Oracle Order Management. Orders marked as closed are not selected. * Close lines and close orders are implemented using workflow. confirm that service contracts for warranties and extended warranties have been created Close orders * Closing orders that are complete enhances performance. Implicit Acceptance Confirm shipments and optionally. windows and report queries retrieve open orders only.Chapter 2 Oracle Order Management This chapter describes the procedures for performing period-end processing in Oracle Order Management Release 12. Closed orders are excluded from many of the standard reports available in Order Management. Business Requirements Open Sales Orders should be reviewed and. 1. 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. 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. increasing system speed and efficiency. when included in the order header or Oracle Financials E-Business Suite Release 12 Period End Procedures 12 . so reporting can be limited only to the active orders.

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

The AutoInvoice Process updates Oracle Receivables for invoice and revenue information. This report includes all open and closed orders. The order line status is displayed in the main tab of the Line Items tabbed region. scheduled dates. Attention: Order Management does not process internal sales order lines for the Invoice Interface. as well as credit memos and credits on account created from returns. order types. items. The window shows in tabular format all the activities an order header or line has completed and the corresponding results. inventory-sourced requisition lines to the Order Management interface tables. The Workflow Status option on the Sales Orders window Tools menu launches the Workflow Status page. 3. 4. 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 . From the status page. f) Invoice Interface / AutoInvoice. Internal orders do not go through the Invoice interface/ AutoInvoice process. 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. Then. 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. requisition numbers. e) Use the Order Import Correction window to examine the orders and optionally correct data if it fails the import process. even if the Invoice Interface is an action in the order Workflow Definitions for the Internal Sales Order transaction type. and internal requisition and internal sales order hold discrepancies. order date ranges. This process will ensure all shipped sales order information is transferred to Oracle Receivables when it reaches the appropriate point in the order workflow. 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. Use the Error Message window to determine if your data failed to import.Use the Create Internal Sales Orders process to send requisition information from approved. The Sales Orders window displays the order header status in the main tab of the Order Information tabbed region. you can access the Workflow monitor to see the order or line status in a more graphical format. for external orders. The Create Internal Sales Orders and Order Import processes can be scheduled to run automatically at specified intervals. c) Run Order Import to create internal sales orders from internal requisitions. order numbers. ship to information. the Order Import process is run from within Order Management to generate the internal sales orders.

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

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

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

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

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

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

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

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

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

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

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

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

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

Also. Open Account AP Balance Listing Report or Accounts Payable Trial Balance (for last day of current period). Payables Posted Payment Register . Attention: A comparison between the accounts in payables with the accounts in GL might not match. 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. you can use the Account Analysis report and the General Ledger reports to determine what journals are being posted to that account. as SLA has the ability to override the accounting. 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. 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 . Before running your reports. 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. 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 –. for reconciliation of Oracle Payables liabilities with Oracle General Ledger’s Trade Creditor Control Account.30th April. be sure to post the transactions in the general ledger. 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.Payment journals must be posted in general ledger to appear on this report. the Posted Invoices Register and Posted Payments Register reports must be run after each posting run. b) Run Third Party Balances Report (Optional) This report is used to display balance and account activity information for suppliers and customers.Payables Posted Invoice Register . For more information refer to ‘SLA Implementation Guide’. third party. run the Transfer Journal Entries to GL Program for all transactions in the period that you are reconciling.Invoice journals must be posted in general ledger to appear on this report.

and confirmed all invoice holds. and carry forwards. including withholding tax. Oracle Financials E-Business Suite Release 12 Period End Procedures 29 . you can review them in the Prepare Mass Additions window in Oracle Assets. Run Reports for Tax Reporting Purposes (Optional) A variety of standard reports can be used to provide tax information. This report is owned by SLA. Optionally compare it with ‘Third Party Balances’ report (if applicable). Output from the tax extract is designed to look as close to a simple tax report as possible. submit the Mass Additions Create program to transfer capital invoice line distributions from Oracle Payables to Oracle Assets. 12. Withholding tax is handled by Payables whereas other tax requirements are handled by E-Business Tax. 11. Suggestion: If the volume of transactions in Accounts Payable requiring Assets update is large. Run Mass Additions Transfer to Oracle Assets After you have completed all Payables transaction entries. 13. 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. general ledger journal entries imported from SLA are not included in the report. It only includes journal entries transferred to and posted to general ledger. 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. 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. For foreign currency assets. Review this report.The balances in this report can be compared with the general ledger balances for the same control accounts to reconcile. 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. Payables sends the invoice distribution amount in the converted functional currency. The mass addition line appears in Oracle Assets with the functional currency amount. you should consider running the Mass Additions Create process on a more regular basis. After you create mass additions. which is required to be reported to the relevant Tax Authority.

The short name of this report is ZXXTATAT. 14. when combined with similar information from Oracle Accounts Receivable. 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. Oracle Payables generates reports you can use to review payables transaction activity. and Oracle General Ledger.Suggested Reports include: Financial Tax Register Use the Financial Tax Register to view the output from the Tax Reporting Ledger. invoices. The short name of this report is RXZXPFTR. and payments. distributions of all posted or partially posted invoices. for each invoice. 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. When you submit the Key Indicators Report. and updates. Note: Please refer to Oracle E-Business Tax Reporting Guide for complete details on tax related reports. Run the Key Indicators Report (Optional) This report enables review of the accounts payables department’s productivity. both the tax amount and the invoice amount subject to tax. c) Key Indicators State of the System Report Oracle Financials E-Business Suite Release 12 Period End Procedures 30 . The Tax Reporting Ledger consists of accounting information created in Oracle Payables. for each tax rate code. This report provides detail tax and invoice information and the total amounts for each tax rate code in the invoice currency and functional currency. 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. Payables further breaks down each category into basic items. This statistical information can be useful for cash flow analysis and forecasting purposes. and review the current number of suppliers. 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). The report includes. Oracle Payables produces this report only if you choose ‘Yes’ for the Include Invoice Detail parameter. payments and matching holds in the system. The Key Indicators Report provides current activity indicators that compare current period activity with prior period activity in three major areas: suppliers. invoices. The report lists. exception items.

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

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

Procedures 1. 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.General Exception Handling at Period End If you do not want to correct exceptions during the current GL period. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. 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. without accounting for them. This process needs to be performed for each operating unit defined. 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. Complete all Maintenance Activities As there are a number of maintenance activities that can affect the period close procedure. 2. 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. 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 . which allows you to interface and adjust transactions in the period but does not allow transaction entry. 3.

the period close. verify that all timecards are entered or accounted for. d) Run PRC: Update Project Summary Amounts After Resource List Change 5. If Oracle Projects is the direct data source for payroll or for reconciling labor costs to payroll. Verify that all pre-approved timesheet batches in the current PA period have been released and approved. Run PRC: Compile All Burden Schedule Revisions b) Run organization maintenance to ensure all organizations have been added to all affected compiled burden schedules. 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 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. update the project summary amounts before. not during. Run PRC: Add New Organization Compiled Burden Multipliers c) If changes or additions were made to pre-existing resource lists. Run PRC: Transaction Import. Transaction Source = Oracle Self-Service Time.* 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. or use function and responsibility restrictions to prevent access to these areas during the period close procedure. Oracle Financials E-Business Suite Release 12 Period End Procedures 34 . 4. Attention: One rejected expenditure item will cause an entire expenditure to be rejected.

Warning: If your PA period matches a GL/AP month end. Access to these activities should be controlled. ensure that all new supplier invoices processing for the current GL period has stopped. Run PRC: Interface Supplier Invoices from Payables Interface Expense Reports from Oracle Payables Before generating project revenue or running final cost distribution processes. These expense reports may have been entered via Self-Service Expenses or Expense Reports in Oracle Payables. 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. 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 . 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. import all eligible expense reports from Oracle Payables to create pre-approved expense report batches. 6.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.

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

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

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

This report simplifies the reconciliation process by comparing Receivables and General Ledger account balances in a single place. * Unposted in GL . 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. 3. The Difference column indicates how the activity in Receivables compares to the journal source of Receivables in the General Ledger. and highlights journal sources where discrepancies might exist. even if the data matches.The AR to GL Reconciliation report compares the account balances in Oracle Receivables to those in Oracle General Ledger. If the actual balance of a specific account is different in Receivables than in GL.Unposted Oracle Receivables journals in the general ledger. During the internal reconciliation process. such as Oracle Payables or a legacy feeder system. * GL Subledgers Not AR . and * You have used the posting execution reports to confirm that the journal entries exported from Receivables match those posted in General Ledger. then the following columns highlight the type of journals that affect the account balances: * GL Source Manual . Run the AR to GL Reconciliation report: * After the Create Accounting program in Receivables has completed. 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 .Manual journal entries made in the General Ledger. and * You have reviewed the Unposted Items report to confirm that all journal entries have posted.Journal entries posted to the General Ledger from other subledgers. use the AR Reconciliation report to confirm that your transactional and accounting data match. However. the journals could still post to incorrect GL accounts. thus creating reconciliation issues in Oracle General Ledger. This report will show a difference between Receivables and GL account balances only if items did not successfully post to GL accounts. Reconcile Outstanding Customer Balances Reconcile the outstanding customer balances at the beginning of a specified period with the ending balance for the same period. using the following formula. The Potential Reconciling Items report addresses this issue by suggesting journal items that might potentially post to GL accounts with unexpected account types.

b) Receipt Register Use this report to review a list of receipts for a specified date range. Receivables displays information about your on-account or unapplied payment such as GL date. payment method. The Journal Entries Report shows the receipt numbers that contribute to a particular GL account. on-account 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. 4. which are not open in Receivables. payment number. you can review the detailed information on the Receipts Journal Report. 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. batch name. This report includes both cash and miscellaneous receipts. batch source. Oracle Financials E-Business Suite Release 12 Period End Procedures 43 . and therefore do not show up in the aging reports. Using the receipt number. and unapplied amount. You can use this report to determine how much your customer owes after taking into account all on-account and unapplied amounts. 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. payment date. you can perform this action by re-querying the receipts and following the normal application procedure. 5. If any of the Receipts listed can now be applied to outstanding transactions.

Both reports display invoice related receipts and miscellaneous receipts. Use the same General Ledger date ranges for the Journal Entries Report and the Create Accounting program. Bug 7589198: Receipt Register does not match Receipt journal – deemed functionality (similar to Bug 7423482). 7. Oracle Financials E-Business Suite Release 12 Period End Procedures 44 .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. Oracle Receivables regards these items as having been ‘posted’ within the sub-ledger. 6. If Create Accounting is submitted in the ‘Final’ mode without transferring it to the General Ledger. the entries will have to be transferred separately. for transfer to the General Ledger. it is possible to perform external reconciliation during and after the posting process. Once transactions and receipts have been transferred to the GL tables. 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. 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. Create Accounting will generate a report which details the transferred transactions.1: Unable to Reconcile Receipt Register to Receipt Journal – Enhancement 5567693 is still pending. transactions in error etc. 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. Bug 7423482: Receipt Register and Receipt Journal do not show on-account activity – deemed functionality. 8. Post to the General Ledger Prior to posting to the General Ledger. 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). After internally reconciling the transactions and receipts using these two reports. 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. See the following My Oracle Support bugs and enhancement requests for more details: Note 393682. Compare this report to the Journal Entries Report (run in Posted status mode) and verify that they match.

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

then re-open both appropriate Receivables and General Ledger Periods and initiate another posting. Using the Submit Requests window to generate this report.12. Reconcile Posted Journal Entries After running the GL posting process in Oracle General Ledger. 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. run the Journal Entries Report (with ‘Posted = Y’) to help reconcile the posted journals. The output will consist of all items not posted to the General Ledger for the specified GL date range. 16. Oracle Financials E-Business Suite Release 12 Period End Procedures 46 . This report is used to display balance and account activity information for Suppliers and Customers. 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. If there are any items not posted for the current or prior periods. Third Party Balances Report Run Third Party Balances Report from the SRS screen. It only includes journal entries transferred to and posted to the General Ledger. Run the request from the Submit Requests window. which were transferred in FINAL mode and with Post in GL being set to NO. 14. 15. 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. It is automatically submitted by General Ledger when closing a GL period if there are unprocessed accounting events or un-transferred journal entries. third party. submit with a GL date range for at least the current financial year. This report should not generate any output if all Receivables transactions have been successfully posted to the General Ledger. 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 The balances in this report can be compared with the General Ledger balances for the same control accounts to reconcile. 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. for the transactions.

General Ledger journal entries imported from Subledger Accounting are not included in the report. 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 . which is required to be reported to the relevant Tax Authority. The E-Business Tax data extract draws tax information from each application and stores the data in an interface table. 17. including withholding tax. 18. Open the Next Oracle Receivables Period Open the next period in Oracle Receivables using the Open/Close Accounting Periods window. Note: To avoid duplication with subledger journal entries. Output from the tax extract is designed to look as close to a simple tax report as possible.Review this report and compare it with the Third Party balances report. Run Reports for Tax Reporting Purposes (Optional) A variety of standard reports can be used to provide tax information.

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

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

Reconcile Accrual Accounts .Period-End Report to create period-end accruals for uninvoiced receipts. If the profile option is set to ‘N’. 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. Each time the process is run. When the Accrue Expense Items flag is set to At Receipt. for Expense distributions for a specific purchasing period. debiting the charge account and crediting the Expense AP Accrual Account. on the Accrual tabbed region of the Purchasing Options window for the current Organization. then the accrual entries need to be reversed manually. Attention: This step is only required if the Accrue Expense Items flag is set to Period End. If encumbrance or budgetary control is being used. 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.8. If encumbrance or budgetary control is being used. The Create Accounting Program has to be run to create SLA journals. corresponding to the encumbrance reversal entries for the un-invoiced receipts that were accrued. Run the Receipt Accruals . This process can be run as many times as needed. Attention: The Receipt Accruals Period End Program creates accounting in the receiving sub ledger only. which in turn will trigger the journal import. Oracle Purchasing creates accrual entries only up to the quantity the supplier did not invoice for the partially invoiced receipts. Journal entries are created for the amount of the receipt liabilities. another journal entries batch is created.Period End Process Run the Receipt Accruals . 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.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 . a reversal is not required. 9.

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 . and to reconcile the balance of the AP accrual accounts. 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. At any given time. purchasing. Run the Invoice Price Variance Report for the current period.* AP Accrual Account * Inventory Account .(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. The Accrual Reconciliation Reports are used to analyze un-invoiced receipts. and identify errors. These reports enable you to identify the following issues in receiving. Manually remove the Invoice Price Variance amount from the AP Accrual Account using your General Ledger. work in process. 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. inventory. distinguish accrued receipts from invoice price variances. Identify the Invoice Price Variances amount and Accrued Receipts amount in the AP Accrual Account. 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.

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

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. and Oracle Work In Progress. journal entries must be created for the invoices. more entries must be reconciled in the AP accrual accounts. Attention: You must complete the Year End Encumbrance processing in Oracle Purchasing. Mass budget processing also allows you to combine these budgets. For Oracle Inventory. 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. and the encumbered budget. * Carry forward the funds available as at the end of the year. before commencing the year end Encumbrance processing in Oracle General Ledger. If you also receive inventory. For Oracle Payables. is to extinguish any outstanding encumbrances or unused funds when you close the last period of the Financial Year within Oracle General Ledger. the Receiving Value Report by Destination Account must be run to break out the receiving/inspection value by asset and expense. If expense purchases are accrued on receipt.) 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 .Attention: Most commercial installations accrue expense receipts at period end. The default processing for Oracle Financials at year end. Other facilities available: * Use mass allocations to bring forward part of the funds available. as the information is not required as the receipt occurs. (Refer to Chapter 11 Period-End Procedures for Oracle General Ledger. * Carry forward encumbrances. all transactions are created in Purchasing and need the GL Transfer Program to be run to transfer to the General Ledger. Attention: For Oracle Purchasing. * Carry forward budgets into the current appropriation budget. The carry forward process enables managers to perform any of the following: * Carry forward encumbrances for existing transactions (purchases / requisitions). 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. 10.

* Cash basis . if the encumbrance option for requisitions or purchase orders has been enabled. use the Encumbrance Detail Report in a way that matches the accounting method: * Receipt accrual . the encumbrance detail on the report is based on invoice matching information from Payables.If cash-basis accounting is used. During the period. Based on this report you can identify those transactions that you wish to carry forward into the new financial year. The Encumbrance Detail Report reflects activity from General Ledger. 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 . not on receiving information.Generate the Encumbrance Detail Report as needed when the Accrue at Receipt option is used. * Period-end accrual . not Purchasing or Oracle Payables.Print the Encumbrance Detail Report to review the requisition and purchase order encumbrances. After the Receipt Accruals .Generate the Encumbrance Detail Report at period-end. Upon entering receipt delivery information. When cash-basis accounting is used and the Payables Transfer to General Ledger process is submitted. Payables transfers only accounting information for paid invoices to the General Ledger. Therefore. Refer below to the steps required to cancel transactions that are not to be carried forward. an automated process transfers the receipt information to General Ledger using the Journal Import Process. the encumbrances on the Encumbrance Detail Report remain until payment information from Payables is transferred to General Ledger.Period-End process is run. 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. Use this report to review the accounts encumbered. b) Perform MassCancel in Oracle Purchasing (Optional) MassCancel enables the cancellation of requisitions and purchase orders on the basis of user selected criteria.

12. rejected. for percents accepted. you have the option of canceling the original requisition at the same time. c) Supplier Quality Performance Analysis Report The Supplier Quality Performance Analysis Report can be used to review suppliers' quality performance.Run MassCancel When this process is run. Attention: If you wish to cancel both purchase orders and requisitions. You have the option to include supplier site address and contact information. The report lists all site names and addresses of each potential duplicate supplier. Close the Current Oracle Purchasing Period Close the current Purchasing Period in the Control Purchasing Periods window. This report is useful for identifying suppliers with quality performance issues. Payables lists your suppliers in alphabetical order and you can additionally order the report by supplier number. Oracle Purchasing creates journal entries to zero out the encumbrances associated with the canceled requisitions and purchase orders. you must initiate MassCancel twice. This report lists active suppliers whose names are the same. 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). then any references to the supplier in blanket purchase orders. they can be combined using Supplier Merge. etc. This report can be Oracle Financials E-Business Suite Release 12 Period End Procedures 55 . b) Suppliers Audit Report Use the Supplier Audit Report to help identify potential duplicate suppliers. d) Supplier Service Performance Analysis Report The Supplier Service Performance Analysis Report lists late shipments. and returned. early shipments. This report also shows if a supplier is on PO Hold. The report inserts a blank line between groups of possible duplicate suppliers. Open the Next Oracle Purchasing Period Open the next purchasing period in the Control Purchasing Periods window. Note that when canceling a purchase order. and auto source rules are updated to the new supplier. rejected shipments. 13. up to a specified number of characters. The report ignores case. and shipments to wrong locations. special characters. After duplicate suppliers have been identified. spaces. 11. 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. quotations. If purchase order information is merged.

The % Received On Time is the percentage of the ordered quantity received on the promise date or within the receipt tolerance days. Use the report to compare actual purchase percentages with sourcing percentage. * Analyze Requisitions Requisition Activity Register The Requisition Activity Register shows requisition activity and monetary values. The % Open Past Due is the percentage of the ordered quantity not received by the promise date and beyond the receipt tolerance days. but within the receipt tolerance days or not past due. The Intended Commitment is the total expenditure multiplied by the split percentage entered in the sourcing rules. all divided by the total corrected received quantity.used to derive a supplier service penalty by multiplying the days variance quantity by a percentage of the price. Purchasing provides the detail of the releases created against these orders. The Actual Percentage is the items expenditure as a percentage of the total expenditure for the date range of the report. The % Received Early is the percentage of the ordered quantity received before the promise date and outside the receipt tolerance days. Purchasing prints the blanket agreement or planned purchase order header information. The % Open Current is the percentage of the ordered quantity not yet received. The report prints the items that are assigned sourcing rules. Purchasing prints the requisitions in order of creation date and prepared name. using blanket purchase agreements and planned purchase orders. The % Received Late is the percentage of the ordered quantity received after the promise date and outside the receipt tolerance days. For each blanket purchase agreement and planned purchase order created. 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. The result is the quantity per day the supplier is in variance. if no release exists. Oracle Financials E-Business Suite Release 12 Period End Procedures 56 . 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 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. The Expenditure is the sum of the item line amounts for standard purchase orders for the supplier. * Review Quotation.

and there are entered and approved requisitions and purchases. or list price to the actual price. with negative figures in parentheses. The Amount Saved is the negotiated amount less the actual amount. The Amount Saved is the negotiated amount less the actual amount. If the line price type is Q. Purchasing prints the product of the market price of the item ordered and the quantity ordered. the line price was from the List Price. * 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. the line price was from the Market Price. the line price was from the Quote. Purchasing uses the list price. The Negotiated Amount is the product of the price on the quotation and the quantity ordered. The report includes a price type Legend at the bottom of each page for the price type. Use this report to review the encumbered accounts. the line price was from the Market Price. If a quote is not defined. and if the line price type is L. with negative figures in parentheses. If the line price type is M. If the line price type is M. If the market price is not defined. The report includes a price type Legend at the bottom of each page for the price type. The Negotiated Amount is the product of the price on the quotation and the quantity ordered. The Actual Amount is the product of the actual price listed on the purchase order line and the quantity ordered. and if the line price type is L. Use the report to compare the market. the line price was from the List Price. * Cancellation Reports Use these reports to review all cancelled purchase orders and requisitions. If the market price is not defined. 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 Quote. Purchasing uses the list price.* Savings Analysis Reports a) Savings Analysis Report (by Category) The Savings Analysis Report (By Category) shows buyer performance by category. 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 . Purchasing prints the product of the market price of the item ordered and the quantity ordered. b) Savings Analysis Report (by Buyer) The Savings Analysis Report (By Buyer) shows buyer performance by purchase order. quote. If a quote is not defined. If the line price type is Q.

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

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

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

6. 7. 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. 5. as a manual procedure. As explained in step 3 above. Oracle Financials E-Business Suite Release 12 Period End Procedures 61 . Attention: If this step was by-passed.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. View accounting.g. a receipt cannot be entered for that period. But no adjustments to that period can then be entered. Oracle Payables is closed prior to closing Oracle Purchasing. and a closed period cannot be re-opened. If Oracle Purchasing or Oracle Inventory are closed. * Creates summary or detail work in process accounting entries in the GL interface. This still allows miscellaneous transactions corrections in inventory. However. Errored can be selected). Draft Accounted. Attention: This process needs to be completed for each defined Inventory Organization. * Creates summary or detail inventory accounting entries in the GL interface. Attention: The Transfer Journal Entries to GL Cost Management Program transfers the accounting details for all the inventory organizations within a Ledger. a GL Transfer would automatically be initiated. click on the pending button to display any remaining pending transactions and make the appropriate resolutions. journal entries associated with transactions. to enable the running of purchase accruals to accrue expenses on un-invoiced receipts. Close the Current Inventory Period Closing the inventory period using the Inventory Accounting Periods window automatically transfers summary transactions to the GL interface table.Final Accounted. Close the current Oracle Payables and Oracle Purchasing Periods Complete all steps required to close Oracle Payables and Oracle Purchasing. open the next inventory period using the Inventory Accounting Periods window. and the period was closed. Attention: This process needs to be completed for each defined Inventory Organization. prior to closing the inventory period. Open the Next Inventory Period Prior the first day of data entry. since transactions cannot be posted to a closed period. The period close performs the following: * Closes the open period for Oracle Inventory and Oracle Work in Process.

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

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

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

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

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

Post each journal entry batch using the Post Journals window in Oracle General Ledger to update the account balances. 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 Oracle General Ledger. use the More Actions button to Post each Journal individually or if the source of Assets has been included in the Auto Post options. Optionally. b) Tax Reserve Ledger Report Additionally. the Account Reconciliation Reserve Ledger Report can be run.month. the Assets Journals will be posted automatically in the next scheduled posting run. The results can be summarized also by cost centre or depreciation expense account. 9. 10. review the unposted journal entries in the Enter Journals window. * 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 . Review and Post Journal Entries If accounting was performed without the journal entries being posted.

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

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

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

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

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

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

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

Financial Consolidation Hub or the Hyperion Consolidation functionality. Custom accounting reports can be created by using the ‘Financial Statement Generator (FSG)’. 13. Suggestion: To prevent confusing different versions of accounting reports for a specific accounting period. Translate Balances (Optional) Define any new currencies to which accounting balances are to be translated. and ensure a follow-up with relevant colleagues if any exceptions are identified. Detail Trial Balance Report b) Income Statements c) Gross Margin Analysis 11. Run the Period Close Exceptions Report This is a new step in Release 12. Revalue Balances (Optional) Revalue account balances to update functional currency equivalents. Translatae account balances to any defined currency. 12. 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.9a. Maintain average exchange rates for all foreign currencies to which you want to translate. * Consolidate within ledgers a) Enter consolidating journal entries Oracle Financials E-Business Suite Release 12 Period End Procedures 75 . discard any obsolete versions of your report for that accounting period. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) To maintain a consistent audit trail. Request financial reports such as: a) Balance Sheets e. Whichever you choose you can run your extract programs to extract the data from General Ledger to the consolidation systems. it is advisable to create a standard period-end accounting report set that can be run at each period end. Consolidate Ledgers (Optional) Attention: You can consolidate using Global Consolidation System. Maintain period-end exchange rates for all foreign currencies to which you want to translate. 10. Maintain historical rates or amounts for any owner’s equity accounts to be translated.g.

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

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

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

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

This rule enables you to select Encumbrances Only. Verify that the next year budget figures have been entered. you can select a wide range of criteria for carrying forward balances: * Carry Forward Rule .* Use mass allocations to bring forward part of the funds available. To perform Encumbrance year-end procedures. or Funds Available as the basis for the Carry forward * Encumbrance Type .e. * From/To Budget and Budget Organization. b) Open the next budget year Use the Define Budget window to define a budget for the next budget period. If you define a new budget for the purposes of the next year budgetary control. Define Summary Accounts. Encumbrances and the Encumbered Budget. Mass budget processing also allows you to combine these budgets. 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. including Carry Forward. Commitment. 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. you may also need to update the following: Define Budget Organizations.Select the budgets where they are different Oracle Financials E-Business Suite Release 12 Period End Procedures 80 . or to a separate budget to identify between current year and carry forward amounts if required. where summary templates are used as the basis for the budgetary control procedures. Obligation etc. or select the encumbrance type that you require i. * Carry forward budgets into the current appropriation budget. where you have attached the funding budget to defined account ranges within this form. 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.Select ‘All’ for all encumbrances.

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 .

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

Accrue Uninvoiced Receipts 1. Treasury 11.Review and Release Revenue for All Projects 10. Projects 3. Receivables 7. Create Miscellaneous Transactions 6a. General Ledger 2. Transfer Summary or Detail Transactions 9. Perform Year End Encumbrance Processing.Period End Process 10.Perpetual Accruals 10.Run the Generate Cost Accounting Events Program 7. Run Maintenance Processes 5.Run Generation Revenue Accounting Events Process 11. Inventory / Cost Management. Cash Management 5. Reconcile Outstanding Customer Balances 4. Complete All Transactions for the Period Being Closed 6. Complete All Transactions for the Period Being Closed 2. Run Receipt Accruals . Run Mass Additions Transfer to Oracle Assets 9. Open the Next Inventory Period Oracle Financials E-Business Suite Release 12 Period End Procedures 83 . Reconcile Transaction Activity for the Period 3. Generate Sweep Transactions 4. Complete Bank Transfers 7. (Optional) 1. Run the Cost Distribution Processes 6a.Run Create Accounting 12. Assets 10. Assign All Assets to Distribution Lines 5. Reconcile Accounts . Payables 6. Review the Unapplied Receipts Register 8. Generate Bank Statement Cashflows 8. Reconcile to Inventory 4. Reconcile Bank Statements 6.Generate Invoices 5. Review AutoReconciliation Execution Report 9.Interface Transactions to Other Applications 2. Order Management 4. Complete All Maintenance Activities 4. 9. Reconcile Oracle Payables Activity for the Period 11. Load Bank Statements 3.Generate Draft Revenue for All Projects 9. Purchasing 8.2. Open the Next Oracle Projects Period 3. Complete All Transactions for the Period Being Closed 2.

Run Standard Period End Reports (Optional) 7. Post to the General Ledger 12. Reconcile the Journal Import Process 10. Rollback Depreciation 15. Post to General Ledger 13. Purchasing 8. Reconcile to Oracle Receivables (Optional) 13.Update Project Summary Amounts 10. Reconcile the General Ledger Transfer Process 6.2. Review and Post Journal Entries 10. Payables 6. Run Bank Statement Detail Report 12. Run Standard Period End Reports 8. Create Service Contracts (Optional) 4. Depreciation Projections (Optional) 12. Create Deferred Depreciation Journal Entries (Optional) 8. Run Responsibility Reports (Optional) 11. Print Invoices 13.Restore Access to User Maintenance Activities 20. Review the Subledger Period Close Exceptions Report 13. Third Party Balances Report 2. Treasury 11.Transfer Invoices to Oracle Receivables 12. General Ledger 5. Open the Next Oracle Purchasing Period. 6. Run the GL Reconciliation Report 14. Upload Journals from ADI (Applications Desktop Integrator) 84 19. Close the Current Oracle Receivables Period 12. Inventory / Cost Management. Correct any Invalid Entries to the General Ledger Cash Account (Optional) 9. Recocncile Cost Distribution Lines with General Ledger (Optional) 21. Resolve Exceptions on the AutoReconciliation Execution Report 9. Open the Next Oracle Payables Period 6. Run Calculate Gains and Losses (Optional) 4. Cash Management 5. 3. Receivables 7. Assets 10. Run Standard Period End Reports and reconcile the Perpertual Inventory with GL 9. Run Final Project Costing and Revenue Management Reports 16. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3. Validate the Work in Process Inventory 5. 11. Review the Account Analysis Report 16. Create Accounting 14. Order Management 10. Run the Account Analysis Report for the General Ledger Cash Account 15. Reconcile Oracle Assets to Oracle General Ledger Using Reports. Close the Current Oracle Purchasing Period.Advance the PA Reporting Period (optional) 18. Projects 3. 11. Resolve Unreconciled Statement Lines 9. 8. Permanently Close the Oracle Projects Period (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures .Run Period Close Exceptions and Tieback Reports 8. Reconcile receipts. Reconcile Receipts to Bank Statement Activity for the Period 7. Run Transactions Available for Reconciliation Report 11. Close the Current Oracle Payables and Oracle Purchasing Periods 7. Close the Current Inventory Period 9.Change the Current Oracle Projects Period Status from Pending Close to Closed 17. Run Depreciation 11.

Generate Reversal Journals (Optional) 6. Run the Key Indicators Report (Optional) 15. Generate Recurring Journals (Optional) 7. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) 11. Consolidate Ledgers (Optional) 13a. 9. General Ledger to Oracle General Ledger (optional) 14. Review and Correct Balances (Perform Reconciliations) Oracle Financials E-Business Suite Release 12 Period End Procedures 85 . Cash Management 5. Run Reports for Tax Reporting Purposes (Optional) 4. Inventory / Cost Management. Payables 6. Translate Balances (Optional) 13. Purchasing 8. Revalue Balances (Optional) 12. Review and Verify Journal Details of Unposted Journal Entries 9. Treasury 11. Run the Period Close Exceptions Report 10. Assets 10. Generate Mass Allocation Journals (Optional) 8. Projects 3.2. Review the Unposted Items Report 16. Open the Next Oracle Receivables Period 18. Post All Journal Batches 9a. Review Account Analysis Report 17. Receivables 7. Run Reports for Tax Reporting Purposes (Optional) 14. Reconcile Intercompany (optional) 14. Order Management 4. Complete NonOracle Sub-ledger Interfaces to Oracle General Ledger (Optional) 5. Reconcile Posted Journal Entries 13.

Receivables 7. Payables 6. Run Financial Reports for the Closed Period 20. Order Management 4. Treasury 11. Purchasing 8. 9. Open the Next Oracle General Ledger Period 19. Close the Current Oracle General Ledger Period 18. Inventory / Cost Management.2. General Ledger 15. Cash Management 5. Perform Encumbrance Year End Procedures (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures 86 . Perform Final Adjustments 17. Enter Adjustments and / or Accruals and Post 16. Projects 3. Run Reports for Tax Reporting Purposes (Optional) 21. Assets 10.

1 558421.1 751830.1 605707.1 436128.1 732928.Appendix: More Information Related My Oracle Support Information The following My Oracle Support Information can be reviewed for additional information on period end procedures. Key: R12) November 19 SLA: Troubleshooting the AP TO GL Reconciliation Subledger Accounting (SLA): FAQ for Support Engineers 749679.1 579373.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 . 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.1 What Is The Period Close Process For Oracle Assets In 557948.1 Release 12? Oracle Financials Release 12 Period End Procedures 87 .1 437422. Reconciliation and Data Integrity Issues? 'FAQs' for Period Close and Unaccounted Transactions topic in Oracle Payables GL_DATE Difference On R12.1 735522. Document Title Doc ID AR: What are the recommended patches for AR-GL Posting.1 Useful Articles for R12 General Ledger Support Engineers 369993.1 579631.1 743390.1 604739.1 759002.1 579836.7:00 pm MDT (Conf.1 740297.1 761502. GL Transfer.0. Period Close and Trial Balance 'How To' documents R12 SLA: New R12 Payables Trial Balance -.4 Reconciliation Reports On Standard Cash Receipt.1 728871.

This document is not warranted to be error-free. without our prior written permission. for any purpose.Oracle Financials Release 12 Period End Procedures June 2009 Author: Oracle Consulting Contributing Authors and Reviewers: Suneel Bhaskar.7000 Fax: +1. Barbara Fox. Helle Hennings.506. Bill Tokheim. Other names may be trademarks of their respective owners. Bertrand Vuigner. Lucia Scaltriti. whether expressed orally or implied in law. Amrita Mehrok. Oracle and/or its affiliates. Simer Sahani. CA 94065 U.S. Menno Koomen. We specifically disclaim any liability with respect to this document and no contractual obligations are formed either directly or indirectly by this document. Kannan Tarakad. Terrance Wampler. Oracle Financials Release 12 Period End Procedures 88 . Mien-Lin Tan. electronic or mechanical. Worldwide Inquiries: Phone: +1. including implied warranties and conditions of merchantability or fitness for a particular purpose.650. Chris Cianciolo.7200 oracle.com Copyright © 2009.650. Murali Voora. This document is provided for information purposes only and the contents hereof are subject to change without notice. Elise Mattei. Julia Baeva. Henk Brons Oracle Corporation World Headquarters 500 Oracle Parkway Redwood Shores. All rights reserved. This document may not be reproduced or transmitted in any form or by any means. Ashish Pathak.506. nor subject to any other warranties or conditions. Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Ramaswamy Krishnamurti. Sarah Bowen.A.

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