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

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

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

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

Oracle Financials Release 12 Period End Procedures 8 . 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. 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. • Just as Oracle General Ledger stores balances and journals. online or as a background batch process. the accounting is generated by Subledger Accounting. • It allows your general ledger to be free of extraneous data. • The moment you need to access more detailed information. Subledger Accounting offers a new model between the subledgers and GL. Subledger Accounting provides a comprehensive view of all subledger accounting data. Subledger Accounting stores subledger balances and subledger journals for all of your subledgers that require accounting. Subledger Accounting helps to maintain a common link between General Ledger (GL) balances and underlying transactions automatically.Chapter 1 SLA and Period End Close dependencies Sub Ledger Accounting (SLA) – Business Process The new Subledger Accounting architecture in Release 12 provides a common repository of all your accounting information. It behaves like a detailed version of your general ledger and provides a rich store of information for reporting and analysis. for internal and external audit purposes. so that you can maintain a simple chart of accounts and store only what is needed for GL reporting and analysis. and for ease of drilldown. Whenever you want to account for your subledger transactions.

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

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

General – Period End Close Dependencies Before you start with the Period-End process you have to know what the dependencies are between the various modules as described in this document. You also need to close Oracle Payables before you close Oracle Inventory and Oracle Assets. The diagram above shows the dependencies between some of the main Financials products and a couple of supply chain products. 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. you have to close Oracle Payables before you close Oracle Purchasing to account for purchasing accruals at period end. you close all of your subledgers before you close General Ledger. For example. Oracle Financials E-Business Suite Release 12 Period End Procedures 11 . Finally.

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

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

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

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

purchase order. last shipped date.) 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 includes only open orders in an order cycle that includes pick release. b) Backorder Summary Report The Backorder Summary Report lists all unshipped orders. and monetary amounts of both ordered and backordered quantities. b) Retry Activities in Error There are cases when retrying a workflow activity in error will not resolve the problem. This report also includes total amounts for customers and currencies. and exceptions corrected before completing the Order Management/Receivables period end: a) Unbooked Orders Report Use this report to review orders entered but not booked. 10. 8. customer name and number. This report provides details for each order including customer name. Review and Correct Order Exceptions The following reports should be reviewed. order type of each order. When Exception Management encounters this situation. order type. the workflow activity is set to ‘notified’ instead of being retried. Reconcile to Oracle Inventory Run the following reports for reconciliation with Oracle Inventory: a) Backorder Detail Report b) Review Backorders (Already discussed under section 7.The Backorder Detail Report reviews all customer orders that have been backordered. These amounts involve totals for shippable items only. return reason. order date. Order Management automatically sorts this report by currency. They may indicate incomplete processing. and the monetary amounts ordered. total quantity both ordered and backordered. It displays order information such as order number. shipped and outstanding. 9. order number. and then item. 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. or deleted as appropriate. Oracle Financials E-Business Suite Release 12 Period End Procedures 16 . which needs to be corrected. completed. Create Service Contracts (Optional) Run the Service Contracts Order Processing Concurrent request to create service contracts for extended warranties.

order types. This report displays the order and each order line associated with each salesperson. and who cancelled the order. 12.11. line number and item. quantity ordered. If only a delivery name is specified when defining the parameters of this report. b) Order/Invoice Detail Report The Order/Invoice Detail Report reviews detailed invoice information for orders that have invoiced. 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. cancelled. Shipping Execution prints one commercial invoice per delivery within the trip. c) Customer Acceptance Report Generate Pre-billing Acceptance Program for Pre-billing. A variety of parameters can be used to print the invoice information for a specific order or group of orders. order numbers. b) Salesperson Order Summary Report The Salesperson Order Summary Report reviews orders for one or more salespeople. 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. agreements. and invoiced and their potential commission. Salespeople can use this report to see their current outstanding orders and their status. This report shows open orders. Oracle Financials E-Business Suite Release 12 Period End Procedures 17 . customer or customer number. the date and reason the order or order line was cancelled. line type. Order Management prints in the report that no invoices exist for that order. shipped. This report provides a summary of each cancelled order. If there are no invoices for a particular order that meets the parameter criteria. The report displays all open and closed orders for a salesperson. Implicit Acceptance. This report can be used to report total amounts cancelled in a specified time-frame. and allows evaluation of the most common cancellation reasons. including order number. and detailed sales credit information for lines in a selected range. or review cancellations by customers. review cancellations by salesperson. order date ranges. customer name. the quantity ordered and the quantity cancelled.

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

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

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

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

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

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

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

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

The program transfers unaccounted transactions to the period you specify by updating the GL dates to the first day of the new period. Close the Current Oracle Payables Period Close the accounting period by using the Control Payables Periods window to set the Period Status to ‘closed’. This process automatically submits the Subledger Period Close Exceptions Report. 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. Reconcile Oracle Payables Activity for the Period a) Run the Open Account AP Balance Listing Report (Accounts Payable Trial Balance*) Oracle Financials E-Business Suite Release 12 Period End Procedures 26 . Payables provides the next open period. It is automatically submitted by General Ledger when closing a GL period if there are unprocessed accounting events or untransferred journal entries. In the Control Payables Periods window if you try to close a period that has exceptions then the system enables the Exceptions button. Payables automatically produces the Unaccounted Transactions Sweep report. correct any accounting errors and resubmit the Create Accounting Process. 4.distribution GL dates. 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. or accounted transactions with errors. Choose the Sweep button. 8. Accrue Uninvoiced Receipts (Refer to Chapter 7 Period-End Procedures for Oracle Purchasing) 10. Payables opens a message window. Choose the Exceptions button in the Control Payables Periods window. The ‘Unaccounted Transactions Sweep Program’ will not roll forward accounted transactions. From the window you can choose the following buttons: • Review (This submits the Period Close Exceptions Report. In the Sweep to Period field. Payables opens the Sweep to Period window. You can accept this default or enter another open period. To create successful accounting entries for accounted transactions with errors. You can then close the current accounting period in Oracle Payables.) • Sweep 3. 2. Choose the Submit button to submit the Unaccounted Transactions Sweep Program. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. To submit the Unaccounted Transactions Sweep Program: 1.

for a specific accounting period. 2.1 for more details on this report. Oracle Financials E-Business Suite Release 12 Period End Procedures 27 .1 and 553484. use the applicable Payables modified version of the report. Report Name = "Accounts Payable Trial Balance (Old) " Short Name = APXTRBAL This is the R11i Accounts Payable Trial Balance. 4. 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. it should be disabled in R12. For reconciliation of Oracle Payables and Oracle General Ledger when posting is only performed at period end. this is the correct report name to run if Trial Balance Remodel Phase 4 or higher has been applied.This report basically generates the payables trial balance that can be used for reconciliation of the total accounts payable liabilities in Oracle Payables. This report can be used to generate payables trial balance. Report Name = "Accounts Payable Trial Balance" Short Name = APXTRBAL This is the R12 Accounts Payable Trial Balance.This report is a modified version of the Open Account Balance Listing report. Report Name = "Open Account AP Balances Listing" Short Name = XLAAPRPT This is the subledger Open Account Balance Listing report modified for Payables and should be used as the Trial Balance. the following reconciliation method can be used: Use the following reports to reconcile your transferred invoices and payments to ensure that your Trial Balance accurately reflects your accounts payable liability: Open Account AP Balance Listing Report or Accounts Payable Trial Balance (for last day of prior period). The report provides details of the outstanding accounts payable liability for the organization. Please refer to the My Oracle Support note # 553484. with the Oracle General Ledger Creditors Control Account. Instead. journal entries should be posted for the invoice and payment activity for the period. This is run to generate trail balance as of last day of prior period. there are 4 Concurrent Programs related to the trial balance: 1. This report should NOT be used for Payables. Please refer to the My Oracle Support note # 604739. To obtain the most up-to-date trial balance for a given period. Report Name = "Open Account Balance Listing" Short Name = XLATBRPT This is a Subledger Accounting report. *Accounts Payable Trial Balance report name.1 to understand which specific report is applicable in your case. 3. prior to running the report. In R12.

run the Transfer Journal Entries to GL Program for all transactions in the period that you are reconciling. For more information refer to ‘SLA Implementation Guide’. It retrieves the following information: * Third party balances for third party control accounts * Subledger journal entry lines that add up to the total period activity for each control account. Attention: A comparison between the accounts in payables with the accounts in GL might not match. Payables Posted Payment Register . Also.Invoice journals must be posted in general ledger to appear on this report. be sure to post the transactions in the general ledger. the Posted Invoices Register and Posted Payments Register reports must be run after each posting run. b) Run Third Party Balances Report (Optional) This report is used to display balance and account activity information for suppliers and customers.Payment journals must be posted in general ledger to appear on this report. 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. Attention: Typical AP/GL Reconciliation Example 31st March Open Account AP Balances Report (or Accounts Payable Trial Balance) + April Payables Posted Invoice Register –April Payables Posted Payment Register –. for reconciliation of Oracle Payables liabilities with Oracle General Ledger’s Trade Creditor Control Account. third party. 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 .30th April. Open Account AP Balance Listing Report or Accounts Payable Trial Balance (for last day of current period). Before running your reports. as SLA has the ability to override the accounting.Payables Posted Invoice Register . 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. 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. you can use the Account Analysis report and the General Ledger reports to determine what journals are being posted to that account.

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

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

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

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

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

Run PRC: Add New Organization Compiled Burden Multipliers c) If changes or additions were made to pre-existing resource lists. update the project summary amounts before. Run 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. Transaction Source = Oracle Self-Service Time. Run PRC: Transaction Import. Run PRC: Compile All Burden Schedule Revisions b) Run organization maintenance to ensure all organizations have been added to all affected compiled burden schedules. or use function and responsibility restrictions to prevent access to these areas during the period close procedure. Attention: One rejected expenditure item will cause an entire expenditure to be rejected. d) Run PRC: Update Project Summary Amounts After Resource List Change 5.* 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. the period close. If Oracle Projects is the direct data source for payroll or for reconciling labor costs to payroll. Oracle Financials E-Business Suite Release 12 Period End Procedures 34 . not during. 4. verify that all timecards are entered or accounted for. Verify that all pre-approved timesheet batches in the current PA period have been released and approved. 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: Interface Supplier Invoices from Payables Interface Expense Reports from Oracle Payables Before generating project revenue or running final cost distribution processes. These expense reports may have been entered via Self-Service Expenses or Expense Reports in Oracle Payables. ensure that all new supplier invoices processing for the current GL period has stopped. 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 . Access to these activities should be controlled. Warning: If your PA period matches a GL/AP month end. Run PRC: Interface Expense Reports from Payables Project Related Inventory Transactions Note: the following processes must be completed within Oracle Inventory prior to importing project related inventory transactions: * Run the Cost Collector * Project Cost Transfer * Run PRC: Transaction Import. after verifying that all transactions for the period have been accounted for. Source Description Inventory Inventory Misc Work In Process Manufacturing Material Costs Inventory Issues and Receipts entered in the Miscellaneous Transactions window in Oracle Inventory Manufacturing Resource Costs Attention: Entering new expenditures or adjusting existing expenditures during the final cost distribution process may cause reconciliation problems. 6. The following transaction sources are pre-defined.Run the AUD: Missing Timecards Report Interface Supplier Invoices from Oracle Payables Before generating project revenue or running final cost event processes. import all eligible supplier invoices from Oracle Payables. import all eligible expense reports from Oracle Payables to create pre-approved expense report batches.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

* 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 .

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

Receivables 7. Assets 10. Reconcile Bank Statements 6.Run Create Accounting 12. Assign All Assets to Distribution Lines 5. (Optional) 1. Reconcile to Inventory 4. Run Receipt Accruals . Open the Next Inventory Period Oracle Financials E-Business Suite Release 12 Period End Procedures 83 .Run the Generate Cost Accounting Events Program 7. Projects 3. Complete All Transactions for the Period Being Closed 2. Review AutoReconciliation Execution Report 9. Run Mass Additions Transfer to Oracle Assets 9.Perpetual Accruals 10. 9. Treasury 11. Run Maintenance Processes 5. Open the Next Oracle Projects Period 3. Reconcile Oracle Payables Activity for the Period 11.2.Review and Release Revenue for All Projects 10. Cash Management 5. General Ledger 2.Interface Transactions to Other Applications 2. Generate Bank Statement Cashflows 8. Reconcile Accounts . Complete Bank Transfers 7. Complete All Transactions for the Period Being Closed 6. Complete All Transactions for the Period Being Closed 2. Perform Year End Encumbrance Processing. Create Miscellaneous Transactions 6a. Run the Cost Distribution Processes 6a.Generate Draft Revenue for All Projects 9.Period End Process 10. Reconcile Outstanding Customer Balances 4. Order Management 4. Purchasing 8.Generate Invoices 5. Complete All Maintenance Activities 4. Reconcile Transaction Activity for the Period 3. Accrue Uninvoiced Receipts 1. Review the Unapplied Receipts Register 8. Inventory / Cost Management.Run Generation Revenue Accounting Events Process 11. Load Bank Statements 3. Generate Sweep Transactions 4. Transfer Summary or Detail Transactions 9. Payables 6.

Close the Current Oracle Purchasing Period. 3. Projects 3.Advance the PA Reporting Period (optional) 18. Correct any Invalid Entries to the General Ledger Cash Account (Optional) 9. Post to General Ledger 13. Upload Journals from ADI (Applications Desktop Integrator) 84 19. Create Accounting 14. Review and Post Journal Entries 10. Close the Current Inventory Period 9. Create Deferred Depreciation Journal Entries (Optional) 8. Run Calculate Gains and Losses (Optional) 4. 11. Validate the Work in Process Inventory 5. Reconcile the General Ledger Transfer Process 6. Close the Current Oracle Receivables Period 12. Receivables 7. Post to the General Ledger 12. Assets 10. Run Standard Period End Reports and reconcile the Perpertual Inventory with GL 9. Treasury 11. 8.Restore Access to User Maintenance Activities 20. Reconcile the Journal Import Process 10. Order Management 10. Resolve Unreconciled Statement Lines 9. Reconcile receipts. Recocncile Cost Distribution Lines with General Ledger (Optional) 21. Run the GL Reconciliation Report 14. Run Depreciation 11. Open the Next Oracle Purchasing Period. Review the Account Analysis Report 16.Run Period Close Exceptions and Tieback Reports 8. Open the Next Oracle Payables Period 6. 6.Update Project Summary Amounts 10. Third Party Balances Report 2. Run the Account Analysis Report for the General Ledger Cash Account 15. Run Standard Period End Reports (Optional) 7. Run Standard Period End Reports 8. Run Transactions Available for Reconciliation Report 11. Reconcile Receipts to Bank Statement Activity for the Period 7. Rollback Depreciation 15. Resolve Exceptions on the AutoReconciliation Execution Report 9.Change the Current Oracle Projects Period Status from Pending Close to Closed 17. Review the Subledger Period Close Exceptions Report 13. Run Bank Statement Detail Report 12. Create Service Contracts (Optional) 4. General Ledger 5.2. Print Invoices 13. Payables 6. Inventory / Cost Management. Reconcile Oracle Assets to Oracle General Ledger Using Reports. Run Responsibility Reports (Optional) 11. Cash Management 5. Permanently Close the Oracle Projects Period (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures . Purchasing 8. Run Final Project Costing and Revenue Management Reports 16. Close the Current Oracle Payables and Oracle Purchasing Periods 7.Transfer Invoices to Oracle Receivables 12. 11. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3. Reconcile to Oracle Receivables (Optional) 13. Depreciation Projections (Optional) 12.

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

Receivables 7. Inventory / Cost Management. Perform Encumbrance Year End Procedures (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures 86 . Purchasing 8. Close the Current Oracle General Ledger Period 18. 9. Cash Management 5. Assets 10. Order Management 4. Run Reports for Tax Reporting Purposes (Optional) 21. Projects 3. Enter Adjustments and / or Accruals and Post 16. Open the Next Oracle General Ledger Period 19. Payables 6. Run Financial Reports for the Closed Period 20. General Ledger 15. Treasury 11. Perform Final Adjustments 17.2.

4 Reconciliation Reports On Standard Cash Receipt.1 732928.1 Useful Articles for R12 General Ledger Support Engineers 369993. GL Transfer.1 604739.1 579373.1 579631. 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. Key: R12) November 19 SLA: Troubleshooting the AP TO GL Reconciliation Subledger Accounting (SLA): FAQ for Support Engineers 749679.1 558421.1 728871.7:00 pm MDT (Conf.0. Reconciliation and Data Integrity Issues? 'FAQs' for Period Close and Unaccounted Transactions topic in Oracle Payables GL_DATE Difference On R12.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 759002.1 761502.1 740297.1 605707.1 437422. Document Title Doc ID AR: What are the recommended patches for AR-GL Posting.1 579836.1 751830.1 Release 12? Oracle Financials Release 12 Period End Procedures 87 .1 735522.1 What Is The Period Close Process For Oracle Assets In 557948.1 436128.1 743390.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 . Period Close and Trial Balance 'How To' documents R12 SLA: New R12 Payables Trial Balance -.

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

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