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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

which allows you to interface and adjust transactions in the period but does not allow transaction entry. Complete all Maintenance Activities As there are a number of maintenance activities that can affect the period close procedure. 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 can generate the Subledger Period Close Exceptions Report through a concurrent request for the application associated with the responsibility or for all applications in the General Ledger responsibility. This process needs to be performed for each operating unit defined. Procedures 1.General Exception Handling at Period End If you do not want to correct exceptions during the current GL period. 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. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. Change the Current Oracle Projects Period Status from Open to Pending Close This is an interim status. 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 . 3. 2. This process needs to be performed for each operating unit defined. without accounting for them.

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

Warning: If your PA period matches a GL/AP month end. 6. The following transaction sources are pre-defined.Run the AUD: Missing Timecards Report Interface Supplier Invoices from Oracle Payables Before generating project revenue or running final cost event processes. import all eligible supplier invoices from Oracle Payables. 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 . 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. 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. Access to these activities should be controlled. import all eligible expense reports from Oracle Payables to create pre-approved expense report batches.

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

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

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

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

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

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

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

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

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

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

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

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

Manually remove the Invoice Price Variance amount from the AP Accrual Account using your General Ledger. Run the Invoice Price Variance Report for the current period. 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. The Accrual Reconciliation Reports are used to analyze un-invoiced receipts. and to reconcile the balance of the AP accrual accounts.(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 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.* AP Accrual Account * Inventory Account . distinguish accrued receipts from invoice price variances. and identify errors. 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 . work in process. At any given time. purchasing. Identify the Invoice Price Variances amount and Accrued Receipts amount in the AP Accrual Account. or accounts payable transactions: * Quantity differences between receipts and invoices * Incorrect purchase order or invoice unit prices * Discrepancies in supplier billing * Invoice matched to the wrong purchase order distribution * Receipts against the wrong purchase order or order line * Miscellaneous inventory or work in process transactions that do not belong to the accrual accounts * Payables entries for tax and freight that do not belong to the accrual accounts The Accrual Reconciliation Report Group consists of one program and three reports as discussed below: a) Accrual Reconciliation LR Program load run This program is used in the accrual reconciliation process to populate the accrual reconciliation table with all the necessary transaction data to perform the reconciliation process. inventory. These reports enable you to identify the following issues in receiving.

d) Summary Accrual Reconciliation Report The Summary Accrual Reconciliation Report can be used to analyze the balance of the AP accrual accounts. and hence manual adjustment of accrual entries is not required. Oracle Payables clears the AP accrual accounts. * If you have installed Oracle Inventory or Work in Process. Ensure that prior to closing the period. You can accrue both expense and inventory purchases as you receive them. The Reconciliation Reports can help in monitoring potential problems with purchasing and receiving activities that can affect the accuracy of the AP accrual accounts. this report enables reconciliation with the accounts payable accrual account. the Accrual Write-Offs window can be used to indicate which entries are to be removed and written off from this report. 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. 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. 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. Prerequisites: * Oracle Payables and Oracle Purchasing installed. these differences are resolved. you temporarily record an accounts payable liability to your expense or inventory AP accrual accounts. the Accrual Reconciliation Report also displays any inventory or work in process transactions for the accrual accounts. and inventory receipts are not performed. and price differences. * If expense purchases are accrued on receipt. * If expense purchases are accrued at period end. When this happens. 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 Oracle Payables creates the accounting for the matched and approved invoice. After researching the reported accrual balances. Accounting entries have to be created in SLA and GL for these write-off transactions by submitting the Create Accounting program.will be deleted first and the transaction information for these distributions will be fetched and loaded into the accrual reconciliation tables.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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 .

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

Purchasing 8. Transfer Summary or Detail Transactions 9. Payables 6. Cash Management 5. Complete All Maintenance Activities 4. Treasury 11. Reconcile Transaction Activity for the Period 3. Inventory / Cost Management. Review the Unapplied Receipts Register 8. Complete All Transactions for the Period Being Closed 6. Receivables 7. 9.Period End Process 10.2. Complete All Transactions for the Period Being Closed 2. Assets 10. Generate Sweep Transactions 4.Run the Generate Cost Accounting Events Program 7. Assign All Assets to Distribution Lines 5.Generate Invoices 5. Open the Next Oracle Projects Period 3. Generate Bank Statement Cashflows 8.Run Generation Revenue Accounting Events Process 11. Accrue Uninvoiced Receipts 1. Load Bank Statements 3. Run Maintenance Processes 5. Create Miscellaneous Transactions 6a. Reconcile Outstanding Customer Balances 4. Complete All Transactions for the Period Being Closed 2. General Ledger 2. Reconcile Oracle Payables Activity for the Period 11. Order Management 4.Run Create Accounting 12. Projects 3.Interface Transactions to Other Applications 2. Run Mass Additions Transfer to Oracle Assets 9. Reconcile Accounts . (Optional) 1. Reconcile Bank Statements 6. Perform Year End Encumbrance Processing. Run the Cost Distribution Processes 6a. Complete Bank Transfers 7.Review and Release Revenue for All Projects 10. Reconcile to Inventory 4. Run Receipt Accruals . Open the Next Inventory Period Oracle Financials E-Business Suite Release 12 Period End Procedures 83 . Review AutoReconciliation Execution Report 9.Generate Draft Revenue for All Projects 9.Perpetual Accruals 10.

Correct any Invalid Entries to the General Ledger Cash Account (Optional) 9.Run Period Close Exceptions and Tieback Reports 8. Third Party Balances Report 2. 8. Review the Account Analysis Report 16. Open the Next Oracle Purchasing Period. Run Bank Statement Detail Report 12. Assets 10. Validate the Work in Process Inventory 5. Create Service Contracts (Optional) 4.2. Print Invoices 13. Upload Journals from ADI (Applications Desktop Integrator) 84 19. Run Final Project Costing and Revenue Management Reports 16. Treasury 11. Payables 6. Purchasing 8. Recocncile Cost Distribution Lines with General Ledger (Optional) 21. Reconcile receipts. 11. Inventory / Cost Management. Run Calculate Gains and Losses (Optional) 4.Transfer Invoices to Oracle Receivables 12. Run the GL Reconciliation Report 14. Close the Current Oracle Purchasing Period. Reconcile the General Ledger Transfer Process 6. Review and Post Journal Entries 10. Run Depreciation 11. Review the Subledger Period Close Exceptions Report 13. 6. Resolve Exceptions on the AutoReconciliation Execution Report 9. Reconcile the Journal Import Process 10. Cash Management 5. Run Standard Period End Reports (Optional) 7. Run Standard Period End Reports and reconcile the Perpertual Inventory with GL 9. Run Standard Period End Reports 8. Permanently Close the Oracle Projects Period (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures . Reconcile Oracle Assets to Oracle General Ledger Using Reports. Post to General Ledger 13. 3. Run Responsibility Reports (Optional) 11. 11. Create Deferred Depreciation Journal Entries (Optional) 8. General Ledger 5. Close the Current Oracle Receivables Period 12. Receivables 7.Update Project Summary Amounts 10. Post to the General Ledger 12. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3. Close the Current Oracle Payables and Oracle Purchasing Periods 7.Change the Current Oracle Projects Period Status from Pending Close to Closed 17. Order Management 10. Open the Next Oracle Payables Period 6.Advance the PA Reporting Period (optional) 18. Close the Current Inventory Period 9. Depreciation Projections (Optional) 12. Create Accounting 14. Resolve Unreconciled Statement Lines 9. Reconcile to Oracle Receivables (Optional) 13. Run Transactions Available for Reconciliation Report 11. Reconcile Receipts to Bank Statement Activity for the Period 7. Rollback Depreciation 15. Run the Account Analysis Report for the General Ledger Cash Account 15.Restore Access to User Maintenance Activities 20. Projects 3.

General Ledger to Oracle General Ledger (optional) 14. Review the Unposted Items Report 16. Receivables 7. Open the Next Oracle Receivables Period 18. Revalue Balances (Optional) 12. Generate Mass Allocation Journals (Optional) 8. Complete NonOracle Sub-ledger Interfaces to Oracle General Ledger (Optional) 5. Treasury 11. Inventory / Cost Management. Review and Verify Journal Details of Unposted Journal Entries 9. Run Reports for Tax Reporting Purposes (Optional) 4. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) 11. Generate Reversal Journals (Optional) 6. Payables 6. Run the Key Indicators Report (Optional) 15. Cash Management 5. Order Management 4. Translate Balances (Optional) 13. Reconcile Posted Journal Entries 13. Review Account Analysis Report 17. Reconcile Intercompany (optional) 14. Post All Journal Batches 9a. Assets 10. Projects 3. Purchasing 8. Consolidate Ledgers (Optional) 13a. Review and Correct Balances (Perform Reconciliations) Oracle Financials E-Business Suite Release 12 Period End Procedures 85 . 9. Run Reports for Tax Reporting Purposes (Optional) 14. Generate Recurring Journals (Optional) 7. Run the Period Close Exceptions Report 10.2.

Enter Adjustments and / or Accruals and Post 16. Purchasing 8. Perform Encumbrance Year End Procedures (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures 86 . Cash Management 5. Payables 6. Run Financial Reports for the Closed Period 20. Perform Final Adjustments 17. General Ledger 15.2. 9. Projects 3. Open the Next Oracle General Ledger Period 19. Close the Current Oracle General Ledger Period 18. Inventory / Cost Management. Order Management 4. Receivables 7. Run Reports for Tax Reporting Purposes (Optional) 21. Assets 10. Treasury 11.

0. 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 761502.1 579631.1 732928.7:00 pm MDT (Conf.1 605707.1 751830.1 Useful Articles for R12 General Ledger Support Engineers 369993.1 579373.1 What Is The Period Close Process For Oracle Assets In 557948.1 604739. Period Close and Trial Balance 'How To' documents R12 SLA: New R12 Payables Trial Balance -.1 743390.1 558421.1 759002. Reconciliation and Data Integrity Issues? 'FAQs' for Period Close and Unaccounted Transactions topic in Oracle Payables GL_DATE Difference On R12.1 735522.1 579836.1 437422.aka Open Account AP Balances Listing R12 Trial Balance FAQs R12 Troubleshooting Accounting Issues (in Payables) R12 Troubleshooting Period Close in Payables R12: Oracle Financials Year-End Close and Reconciliation Resources R12: The Differences between the AP Trial Balance in R12 and 11i Release 12 Close Process & Reconciliation .1 728871. GL Transfer. Document Title Doc ID AR: What are the recommended patches for AR-GL Posting.4 Reconciliation Reports On Standard Cash Receipt.1 740297.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 Release 12? Oracle Financials Release 12 Period End Procedures 87 .1 436128.

Julia Baeva.Oracle Financials Release 12 Period End Procedures June 2009 Author: Oracle Consulting Contributing Authors and Reviewers: Suneel Bhaskar. for any purpose. Amrita Mehrok. Worldwide Inquiries: Phone: +1.650. electronic or mechanical. Henk Brons Oracle Corporation World Headquarters 500 Oracle Parkway Redwood Shores. This document may not be reproduced or transmitted in any form or by any means. Simer Sahani. Bertrand Vuigner. Elise Mattei.com Copyright © 2009. Other names may be trademarks of their respective owners. Mien-Lin Tan. Lucia Scaltriti. whether expressed orally or implied in law. Helle Hennings. Bill Tokheim. This document is not warranted to be error-free. Murali Voora. including implied warranties and conditions of merchantability or fitness for a particular purpose. Oracle and/or its affiliates. Menno Koomen. Terrance Wampler. Oracle is a registered trademark of Oracle Corporation and/or its affiliates.S. This document is provided for information purposes only and the contents hereof are subject to change without notice. Ashish Pathak. nor subject to any other warranties or conditions. Sarah Bowen.7200 oracle. Chris Cianciolo. All rights reserved.650. CA 94065 U. Kannan Tarakad.506. without our prior written permission. Oracle Financials Release 12 Period End Procedures 88 . Barbara Fox. We specifically disclaim any liability with respect to this document and no contractual obligations are formed either directly or indirectly by this document.A.506.7000 Fax: +1. Ramaswamy Krishnamurti.

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