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

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

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

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

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

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

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

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. as bank reconciliation in Cash Management will create miscellaneous receipts in Oracle Receivables and so forth. You actually have to close Oracle Cash Management before you close Oracle Receivables. Finally. The diagram above shows the dependencies between some of the main Financials products and a couple of supply chain products. 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 . For example. You also need to close Oracle Payables before you close Oracle Inventory and Oracle Assets. you close all of your subledgers before you close General Ledger.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

which allows you to interface and adjust transactions in the period but does not allow transaction entry. Open the Next Oracle Projects Period It is recommended that you open the next period to minimize interruption to users who may require the ability to enter transactions in the new period during the current period close procedure. 2. Change the Current Oracle Projects Period Status from Open to Pending Close This is an interim status. 3. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. without accounting for them. This process needs to be performed for each operating unit defined. then you can run the process “PRC: Sweep Transaction Accounting Events” to change the date on unaccounted transaction accounting events to the first day of the next open GL period.General Exception Handling at Period End If you do not want to correct exceptions during the current GL period. This process needs to be performed for each operating unit defined. Complete all Maintenance Activities As there are a number of maintenance activities that can affect the 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. Procedures 1. 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 .

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

import all eligible expense reports from Oracle Payables to create pre-approved expense report batches. 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. after verifying that all transactions for the period have been accounted for. 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. ensure that all new supplier invoices processing for the current GL period has stopped. 6. Access to these activities should be controlled. Run the Cost Distribution Processes Run all cost distribution processes to cost all enabled expenditures that have an expenditure item earlier than or equal to the current reporting PA period end date: * PRC: Distribute Labor Costs * PRC: Distribute Usage & Miscellaneous Costs * PRC: Distribute Expense Report Adjustments Oracle Financials E-Business Suite Release 12 Period End Procedures 35 .Run the AUD: Missing Timecards Report Interface Supplier Invoices from Oracle Payables Before generating project revenue or running final cost event processes. These expense reports may have been entered via Self-Service Expenses or Expense Reports in Oracle Payables. The following transaction sources are pre-defined. Run PRC: Interface Supplier Invoices from Payables Interface Expense Reports from Oracle Payables Before generating project revenue or running final cost distribution processes. import all eligible supplier invoices from Oracle Payables. Warning: If your PA period matches a GL/AP month end.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The E-Business Tax data extract draws tax information from each application and stores the data in an interface table. Output from the tax extract is designed to look as close to a simple tax report as possible. 17. 18.Review this report and compare it with the Third Party balances report. including withholding tax. Run Reports for Tax Reporting Purposes (Optional) A variety of standard reports can be used to provide tax information. Note: To avoid duplication with subledger journal entries. 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 . 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. which is required to be reported to the relevant Tax Authority.

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

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

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

distinguish accrued receipts from invoice price variances. At any given time. and identify errors. 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. 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 . Manually remove the Invoice Price Variance amount from the AP Accrual Account using your General Ledger. The Accrual Reconciliation Reports are used to analyze un-invoiced receipts. inventory. These reports enable you to identify the following issues in receiving. and to reconcile the balance of the AP accrual accounts. Run the Invoice Price Variance Report for the current period.* AP Accrual Account * Inventory Account . 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. work in process. purchasing. 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.(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. Identify the Invoice Price Variances amount and Accrued Receipts amount in the AP 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 . You can accrue both expense and inventory purchases as you receive them. * If expense purchases are accrued on receipt. Prerequisites: * Oracle Payables and Oracle Purchasing installed. this report enables reconciliation with the accounts payable accrual account. When Oracle Payables creates the accounting for the matched and approved invoice. d) Summary Accrual Reconciliation Report The Summary Accrual Reconciliation Report can be used to analyze the balance of the AP accrual accounts. * If expense purchases are accrued at period end. the Accrual Write-Offs window can be used to indicate which entries are to be removed and written off from this report. 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. c) Miscellaneous Accrual Reconciliation Report The Miscellaneous Accrual Reconciliation Report shows all inventory and AP (not matched to PO) transactions that have hit the accrual account. The Reconciliation reports also provide information on the quantity differences (between the quantity received for a purchase order shipment and the quantity invoiced). The Reconciliation Reports can help in monitoring potential problems with purchasing and receiving activities that can affect the accuracy of the AP accrual accounts. Oracle Payables clears the AP accrual accounts. Ensure that prior to closing the period. the Accrual Reconciliation Report also displays any inventory or work in process transactions for the accrual accounts. 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. and price differences. and inventory receipts are not performed. and hence manual adjustment of accrual entries is not required. * If you have installed Oracle Inventory or Work in Process. When this happens.will be deleted first and the transaction information for these distributions will be fetched and loaded into the accrual reconciliation tables. these differences are resolved. no information will be available to report. you temporarily record an accounts payable liability to your expense or inventory AP accrual accounts.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

b) Tax Reserve Ledger Report Additionally. * 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 . in Oracle General Ledger. use the More Actions button to Post each Journal individually or if the source of Assets has been included in the Auto Post options.month. Post each journal entry batch using the Post Journals window in Oracle General Ledger to update the account balances. Optionally. 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. or any specified interval. the Account Reconciliation Reserve Ledger Report can be run. review the unposted journal entries in the Enter Journals window. The results can be summarized also by cost centre or depreciation expense account. 9. 10. 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.

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

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

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

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

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

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

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

Translatae account balances to any defined currency. Custom accounting reports can be created by using the ‘Financial Statement Generator (FSG)’. it is advisable to create a standard period-end accounting report set that can be run at each period end. Maintain average exchange rates for all foreign currencies to which you want to translate. Financial Consolidation Hub or the Hyperion Consolidation functionality. 13. Request financial reports such as: a) Balance Sheets e. Whichever you choose you can run your extract programs to extract the data from General Ledger to the consolidation systems. Translate Balances (Optional) Define any new currencies to which accounting balances are to be translated. Suggestion: To prevent confusing different versions of accounting reports for a specific accounting period. and ensure a follow-up with relevant colleagues if any exceptions are identified. Run the Period Close Exceptions Report This is a new step in Release 12. discard any obsolete versions of your report for that accounting period. 12.g. Revalue Balances (Optional) Revalue account balances to update functional currency equivalents. * Consolidate within ledgers a) Enter consolidating journal entries Oracle Financials E-Business Suite Release 12 Period End Procedures 75 . Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) To maintain a consistent audit trail. Consolidate Ledgers (Optional) Attention: You can consolidate using Global Consolidation System. Detail Trial Balance Report b) Income Statements c) Gross Margin Analysis 11. 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. Maintain historical rates or amounts for any owner’s equity accounts to be translated. 10.9a. Maintain period-end exchange rates for all foreign currencies to which you want to translate.

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

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

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

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

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

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

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

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

3. Purchasing 8.2. Reconcile receipts. 6. Inventory / Cost Management.Transfer Invoices to Oracle Receivables 12. Reconcile Oracle Assets to Oracle General Ledger Using Reports. Permanently Close the Oracle Projects Period (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures . Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3. Review the Subledger Period Close Exceptions Report 13. Order Management 10. Rollback Depreciation 15. Resolve Unreconciled Statement Lines 9. Run Transactions Available for Reconciliation Report 11. Run Standard Period End Reports and reconcile the Perpertual Inventory with GL 9. Reconcile the Journal Import Process 10. Create Accounting 14. Depreciation Projections (Optional) 12. Reconcile the General Ledger Transfer Process 6. Third Party Balances Report 2. Review the Account Analysis Report 16. Projects 3. Treasury 11. Receivables 7. Review and Post Journal Entries 10. Reconcile to Oracle Receivables (Optional) 13. Run Bank Statement Detail Report 12. Reconcile Receipts to Bank Statement Activity for the Period 7. Upload Journals from ADI (Applications Desktop Integrator) 84 19. 11. Post to General Ledger 13. Run Calculate Gains and Losses (Optional) 4. Open the Next Oracle Payables Period 6. General Ledger 5.Advance the PA Reporting Period (optional) 18. Correct any Invalid Entries to the General Ledger Cash Account (Optional) 9. Run the Account Analysis Report for the General Ledger Cash Account 15. Recocncile Cost Distribution Lines with General Ledger (Optional) 21. Run Standard Period End Reports 8. Payables 6. Close the Current Oracle Payables and Oracle Purchasing Periods 7. Close the Current Oracle Purchasing Period. Assets 10. Validate the Work in Process Inventory 5. Close the Current Inventory Period 9.Change the Current Oracle Projects Period Status from Pending Close to Closed 17. Run Final Project Costing and Revenue Management Reports 16. 8. Run Standard Period End Reports (Optional) 7.Restore Access to User Maintenance Activities 20. Post to the General Ledger 12.Run Period Close Exceptions and Tieback Reports 8. Resolve Exceptions on the AutoReconciliation Execution Report 9. Close the Current Oracle Receivables Period 12. Create Service Contracts (Optional) 4. Open the Next Oracle Purchasing Period. 11. Run the GL Reconciliation Report 14. Cash Management 5. Run Depreciation 11. Create Deferred Depreciation Journal Entries (Optional) 8.Update Project Summary Amounts 10. Print Invoices 13. Run Responsibility Reports (Optional) 11.

Review the Unposted Items Report 16. Receivables 7. Treasury 11. Review Account Analysis Report 17. Review and Verify Journal Details of Unposted Journal Entries 9. Generate Recurring Journals (Optional) 7. Reconcile Posted Journal Entries 13. Run the Period Close Exceptions Report 10. Order Management 4. Reconcile Intercompany (optional) 14. Purchasing 8. Open the Next Oracle Receivables Period 18.2. Run Reports for Tax Reporting Purposes (Optional) 14. Revalue Balances (Optional) 12. Consolidate Ledgers (Optional) 13a. Assets 10. Translate Balances (Optional) 13. Review and Correct Balances (Perform Reconciliations) Oracle Financials E-Business Suite Release 12 Period End Procedures 85 . Generate Mass Allocation Journals (Optional) 8. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) 11. Inventory / Cost Management. Projects 3. Complete NonOracle Sub-ledger Interfaces to Oracle General Ledger (Optional) 5. Run the Key Indicators Report (Optional) 15. Post All Journal Batches 9a. Generate Reversal Journals (Optional) 6. Payables 6. General Ledger to Oracle General Ledger (optional) 14. Run Reports for Tax Reporting Purposes (Optional) 4. Cash Management 5. 9.

Projects 3. Order Management 4. Assets 10. Receivables 7. Run Financial Reports for the Closed Period 20. Treasury 11. Enter Adjustments and / or Accruals and Post 16. Inventory / Cost Management. 9.2. Purchasing 8. Perform Final Adjustments 17. Payables 6. Run Reports for Tax Reporting Purposes (Optional) 21. General Ledger 15. Perform Encumbrance Year End Procedures (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures 86 . Cash Management 5. Close the Current Oracle General Ledger Period 18. Open the Next Oracle General Ledger Period 19.

Key: R12) November 19 SLA: Troubleshooting the AP TO GL Reconciliation Subledger Accounting (SLA): FAQ for Support Engineers 749679.Appendix: More Information Related My Oracle Support Information The following My Oracle Support Information can be reviewed for additional information on period end procedures.1 579373.1 436128.1 579836.1 743390. Document Title Doc ID AR: What are the recommended patches for AR-GL Posting.1 Release 12? Oracle Financials Release 12 Period End Procedures 87 .1 732928.1 761502.7:00 pm MDT (Conf. Period Close and Trial Balance 'How To' documents R12 SLA: New R12 Payables Trial Balance -.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 740297.1 604739. GL Transfer.0.1 558421.1 759002.1 751830.1 579631.1 728871. Reconciliation and Data Integrity Issues? 'FAQs' for Period Close and Unaccounted Transactions topic in Oracle Payables GL_DATE Difference On R12.1 What Is The Period Close Process For Oracle Assets In 557948.1 735522.1 Useful Articles for R12 General Ledger Support Engineers 369993.1 437422.4 Reconciliation Reports On Standard Cash Receipt.1 605707. 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.

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

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