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Cost Management
STEPS
Oracle Inventory and Oracle Cost Management provide the required features to effect the
necessary period-end procedures to:
Reconcile the inventory and work in process costs and values.
Transfer inventory and manufacturing costs to the General Ledger.
Transfer summary or detail accounting information to the general ledger.
Independently open and close periods for each inventory organization.
Perform interim transfers to the General Ledger without closing the period.
Maintain the same set of periods and fiscal calendar as for the General Ledger.
Attention: For period-end adjustment purposes, it may be appropriate to hold more than one
period open per inventory organisation at the same time, although at other times, having only
one period open at a time ensures that transactions are correctly dated and posted to the
correct accounting period.
Procedures
The following steps are taken in performing period-end processing for Oracle Inventory:
Complete All Transactions for the Period Being Closed
Ensure that all issues, receipts, and adjustments have been entered and verify that no hard
copy records exist or are awaiting data entry, e.g. packing slips in receiving.
Optional Report - Cycle Count Report
This report will highlight any unconfirmed ad-hoc Stocktakes.