Period End Process Steps

Purchasing: 01. Complete all transactions for the period being closed 02. Review the current and future commitments 03. Review the outstanding and overdue purchase orders 04. Follow up Receipts – check with Suppliers 05. Identify and review Uninvoiced receipts (Period end Accruals) 06. Follow up outstanding Invoices 07. Complete the Payables period end process 08. Run Receipt Accruals – Period end process 09. Reconcile Accounts – Perpetual accruals 10. Perform year End Encumbrance Processing 11. Close the current purchasing period 12. Open the next purchasing period 13. Run standard Period end reports Fixed Assets 01. Transfer Summary or Detail Transactions 02. Open the next inventory period 03. Run calculate gains and losses 04. Run depreciation 05. Create accounting 06. Rollback depreciation 07. Create deferred depreciation journal entries (Optional) 08. Depreciation projections (Optional) 09. Review and Post Journal Entries 10. Reconcile Assets to General Ledger using reports 11. Run responsibility reports (Optional) Receivables 01. Complete all transactions for the period being closed 02. Reconcile the transaction activity for the period 03. Reconcile the outstanding customer balances 04. Review the unapplied receipts register 05. Reconcile receipts 06. Reconcile receipts to bank statement activity for the period 07. Post to the General Ledger 08. Reconcile the General ledger transfer process 09. Reconcile the Journal Import process 10. Print Invoices 11. Close the Current Receivables Period 1

ERP_FUN

Run Standard Period End Reports 2 General Ledger 01. Complete all transactions for the period being closed 02. Run mass additions transfer to Assets 12. Review Backorders 08. Third party balances report 14. Reconcile payables activity for the period 11. Upload Journal from ADI to General Ledger (Optional) 04. Run reports for tax reporting purpose (Optional Payables 01. Complete all transactions for the period being closed 02. Close the current payables period 09. Run the payables approval process for all invoices 03. Review and correct Order Exceptions 09. Submit the unaccounted Transaction sweep program 08. Open the Receivables nest period 18. Generate Reversal Journals (Optional) 06. Complete Non Oracle Sub Ledger Interfaces to Oracle General Ledger (Optional) 05. Review the Subledger period close exceptions report 13. Review hold Orders 05. Complete Oracle Sub Ledger interfaces to General Ledger 03. Reconcile Posted Journal entries 15. Reconcile to Inventory 10. Open the next payables period Order Management 01. Review Customer Acceptances (Optional) 06. Ensure all interfaces are completed for the period (Optional) 03. Review Discounts 07. Review the open Order and Check the Workflow status 04. Review the account analysis report 17. Review the Unposted items report 16. Review and resolve amounts to the General Ledger 04. Reconcile to Oracle Receivables 11.12. Generate Recurring Journals (Optional) ERP_FUN . Reconcile the Payment to Bank Statement Activity for the period 05. Ensure the next accounting period status is set to future entry 02. Transfer all Approved invoices and payments to the General Ledger 06. Accrue uninvoiced receipts 10. Review the Payables to General Ledger posting Process after completion 07.

Close the Current General Ledger Period 20. Run Financial Reports for the Closed period 22. Review and Verify Journal Details of Unposted Journal Entries 09. Open the Next General ledger Period 21.07. Perform Encumbrance year End Procedures (Optional) 3 ERP_FUN . Post All Journal Batches 10. Run the Period close Exceptions Report 11. Run GL Trial Balances Preliminary Financial Statement Generator 12. Revalue Balances (Optional) 13. Reconcile Intercompany (Optional) 16. Translate Balances (Optional) 14. Perform Final Adjustments 19. Review & Correct Balances 17. Enter Adjustments / Accruals and Post 18. Run Reports for Tax Reporting Purposes (Optional) 23. Generate Mass Allocation Journals (Optional) 08. Consolidate Balances (Optional) 15.

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