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

...................................................................... Review Account Analysis Report .................. Review the Subledger Period Close Exceptions Report ................................ Open the Next Oracle Purchasing Period ................65 Oracle Financials E-Business Suite Release 12 Period End Procedures ...................................Perpetual Accruals .............................. Third Party Balances Report ... Review the Unapplied Receipts Register...................................................48 3........................................................................50 9......................................................................... Post to the General Ledger..... Transfer Summary or Detail Transactions ........................................................................... Complete All Transactions for the Period Being Closed ............43 5................................ Complete All Transactions for the Period Being Closed ................. 59 Business Requirements ........61 8..............................................................................................................................................Period End Process ..................................................... Check and fix pending Transactions..............45 10.................................................................................................................................... Reconcile the General Ledger Transfer Process ...........................................................................................60 4.... 59 1.......................... Run Calculate Gains and Losses (Optional) .................................................................49 6............................................................................. Reconcile Receipts to Bank Statement Activity for the Period ...........................60 5..46 17............................................................................44 8...... Close the current Oracle Payables and Oracle Purchasing Periods................................................................................................................................................................................................................................................................................62 9..................45 11.................. Follow Up Receipts ............................................. Perform Year End Encumbrance Processing (Optional) ... Run Reports for Tax Reporting Purposes (Optional)...........................................................49 4...................................................61 6..........46 14.......... 59 Procedures ................. Run the Receipt Accruals ...................................................................44 9........................................................ 64 1. Close the Current Oracle Receivables Period ................................64 2............ Validate the Work in Process Inventory .......................................49 5.............................. Print Invoices ................................................................................................................................................ Assign All Assets to Distribution Lines................................... 64 Business Requirements ................................................................................................................................. 48 Business Requirements ......................... Run Depreciation ............... Reconcile Accrual Accounts ..........................................45 12............. Reconcile the Journal Import Process ............................................................................... Close the Current Oracle Purchasing Period......Check With Suppliers ...........................64 4.......46 16.................................................................. Open the Next Oracle Receivables Period ......................................................................................................4......................................................... Open the Next Inventory Period ............................................. Review the Current and Future Commitments (Optional)..............................................................................................................................60 3............................................................. Run Standard Period End Reports (Optional)..................55 CHAPTER 8 ORACLE INVENTORY-COST MANAGEMENT.....................................................................................61 7.................................................... Identify and Review Un-invoiced Receipts (Period-End Accruals) .................59 2.............44 7............50 10.........................................................48 2.............................49 8............................................................................................. Run Standard Period-End Reports and reconcile the Perpetual Inventory with GL .........................................................................55 12.63 CHAPTER 9 ORACLE ASSETS.......................... Reconcile Posted Journal Entries..................55 13...............................64 3.............. Review the Unposted Items Report ............................46 15....................................................................... Check Inventory and Work in Process Transaction Interfaces .................47 CHAPTER 7 ORACLE PURCHASING ..............46 13... Close the Current Inventory Period.....................................47 18................ Reconcile Receipts....... Follow Up on Outstanding Invoices .................. 48 Procedures ................ Complete All Transactions for the Period Being Closed .......................................................................................................................................................... Review the Outstanding and Overdue Purchase Orders (Optional)...........43 6..........53 11............................................................................................. 48 1...........49 7............................. Complete the Oracle Payables Period-End Process .............. 64 Procedures .......

.... Run the Period Close Exceptions Report .............72 2..................................................................................................................................................................................66 9......................................................77 14.............................................................................75 11....................................................... Perform Revaluation ............. Run Reports for Tax Reporting Purposes (Optional)........5........79 CHAPTER 12 PERIOD END PROCESSING ............................................................................................................................................................................................................................. 87 Related My Oracle Support Information.............................................................72 4........................................78 16.................................................................................................. Enter Adjustments and / or Accruals and Post............................. 71 1...........................................73 9........................................................................ Perform Encumbrance Year End Procedures (Optional) ....................................................77 15..................... Run Financial Reports for the Closed Period................69 3.......................78 19........ Complete Oracle Sub-ledger Interfaces to Oracle General Ledger................................................................................................................... Open the Next Oracle General Ledger Period .................................. Generate Accruals and Amortization .....................................................................................................................................................................................................................................71 Combined Basis Accounting..................................... Review and Verify Journal Details of Unposted Journal Entries ................ Run Responsibility Reports (Optional).....................................................66 7.................................... Reconcile Oracle Assets to the General Ledger Using Reports...................74 9a..................................................................................................65 6..70 5.............. 69 Procedures ................................................. Generate Recurring Journals (Optional) ...............................66 8.75 13a......... Reconcile Intercompany (optional) . Complete Non-Oracle Sub-ledger Interfaces to Oracle General Ledger (Optional: only required if you want to post from non-Oracle systems) .......................................................67 10...............................................................73 6........................................... Review and Correct Balances (Perform Reconciliations)..................70 CHAPTER 11 ORACLE GENERAL LEDGER ..............................................................................79 20........................ Review and Post Journal Entries........................ Perform Final Adjustments ......................................................... Generate Journals..................................................................... 71 Business Requirements .................... Create Deferred Depreciation Journal Entries (Optional).. Generate Mass Allocation Journals (Optional)................................................................................................................................................... 71 Period End Close................................................ 82 APPENDIX: MORE INFORMATION ........................................................................ Translate Balances (Optional)........................................................................................................................................................................................................................................................... 69 1.................................................. Generate Reversal Journals (Optional) .... Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) ............73 5......................78 17................................................................ Upload Journals from Web Applications Desktop Integrator (Web ADI) to Oracle General Ledger (Optional).........................79 21..................................................................................................................75 10. Rollback Depreciation......................69 2................... Revalue Balances (Optional) ....................................................................... Close the Current Oracle General Ledger Period................................................................................................71 Procedures ...69 4...................................................................... Consolidate Ledgers (Optional) ...........................75 12....67 11.....................68 CHAPTER 10 ORACLE TREASURY .........................78 18.......................SUMMARY ........................................................................................................................................ Depreciation Projections (Optional) ...........................................................73 8................. Create Accounting.............................................. 87 Oracle Financials E-Business Suite Release 12 Period End Procedures .................... Post All Journal Batches ..................................................... Complete Daily Trading Activities .. Transfer Journals to General Ledger........................................... 69 Business Requirements ...............73 7......... Ensure the Next Accounting Period Status is set to Future Entry.........................................................72 3........................................................75 13.....................................

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

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

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

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

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

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

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

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

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

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

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

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

Cash Management automatically produces this report during the automatic reconciliation process. 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. which prevented the automatic loading of your bank statement. Transaction Date. and reconciled transaction detail. This report shows import and reconciliation errors that occurred when running the Auto-Reconciliation program. reviewing the reconciliation results is recommended. This report only lists void payments if the Show Void Payments option on the Systems Parameters window is checked. Oracle Financials E-Business Suite Release 12 Period End Procedures 20 . This report lists the details of any miscellaneous transactions that were created in Receivables during the automatic reconciliation process. You may also request it as needed from the Submit Request window. Available Payment. It does not list reversed receipts due to user error nor does it list the associated original receipts that were not reconciled. Currency. statement line detail. over-reconciled and under-reconciled. This report includes either statement import errors. This report lists any un-reconciled transactions separately with their current status. un-reconciled. It lists detailed transaction information for your Available Receipts. including the amount entered. 10. Run Bank Statement Detail Report This report shows statement and transaction information for a specific bank account statement. reconciled. including bank statement header information. 9. Supplier or Batch Name.Complete Bank Transfers Complete the bank account transfer whether it is manual or automatic and record the validation if required before completing the transfer. and gives you the option to select only un-reconciled statement lines. Resolve Un-reconciled Statement Lines Resolve the un-reconciled statement lines by manually reconciling the statement lines to the available transactions. and Amount. or your reconciliation exceptions found during the automatic reconciliation process. 7. and Available Journal Entries for reconciliation. Payment Method. Transaction Number. 11. Run Transactions Available for Reconciliation Report This report shows all transactions available for reconciliation for a specific bank account. This report groups transactions by status so that void or reversed transactions are separate from other transactions. and the statement totals for each type of transaction. 8.6a. Detailed information includes the Customer. Review Auto-Reconciliation Execution Report Once the reconciliation process has been completed.

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

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

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

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

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

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

*Accounts Payable Trial Balance report name. use the applicable Payables modified version of the report. there are 4 Concurrent Programs related to the trial balance: 1.1 for more details on this report. This is run to generate trail balance as of last day of prior period. it should be disabled in R12.1 to understand which specific report is applicable in your case. Report Name = "Open Account Balance Listing" Short Name = XLATBRPT This is a Subledger Accounting report. Please refer to the My Oracle Support note # 604739.This report basically generates the payables trial balance that can be used for reconciliation of the total accounts payable liabilities in Oracle Payables. 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). Please refer to the My Oracle Support note # 553484. 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. Instead. The report provides details of the outstanding accounts payable liability for the organization. 3. In R12.This report is a modified version of the Open Account Balance Listing report. Report Name = "Accounts Payable Trial Balance (Old) " Short Name = APXTRBAL This is the R11i Accounts Payable Trial Balance. Report Name = "Accounts Payable Trial Balance" Short Name = APXTRBAL This is the R12 Accounts Payable Trial Balance. Oracle Financials E-Business Suite Release 12 Period End Procedures 27 . for a specific accounting period. For reconciliation of Oracle Payables and Oracle General Ledger when posting is only performed at period end. This report should NOT be used for Payables. To obtain the most up-to-date trial balance for a given period.1 and 553484. 4. with the Oracle General Ledger Creditors Control Account. 2. this is the correct report name to run if Trial Balance Remodel Phase 4 or higher has been applied. 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. This report can be used to generate payables trial balance. journal entries should be posted for the invoice and payment activity for the period. prior to running the report.

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

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

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

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

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

The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation.General Exception Handling at Period End If you do not want to correct exceptions during the current GL period. then you can run the process “PRC: Sweep Transaction Accounting Events” to change the date on unaccounted transaction accounting events to the first day of the next open GL period. 2. 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. 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. Procedures 1. 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. 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. which allows you to interface and adjust transactions in the period but does not allow transaction entry. 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 . without accounting for them. 3.

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

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

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

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

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

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

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

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

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

which is required to be reported to the relevant Tax Authority. 18. Output from the tax extract is designed to look as close to a simple tax report as possible. including withholding tax. Open the Next Oracle Receivables Period Open the next period in Oracle Receivables using the Open/Close Accounting Periods window. 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. 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 . 17. Note: To avoid duplication with subledger journal entries. General Ledger journal entries imported from Subledger Accounting are not included in the report.Review this report and compare it with the Third Party balances report.

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

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

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

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

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

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

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

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

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

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

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

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

Since a period. and the accounting entries between ‘Deferred COGS account’ and ‘COGS account’ must be generated in INVCST. once it is closed these transactions cannot be processed in that period. Though the accounting period can be closed. Attention: This process needs to be completed for each defined Inventory Organization. correct the error at the source. 4. and pending IWIP costing transactions existing in this period.2. depending on INV profile option “TPINV: Transaction Processing Mode”) * Move Transaction Manager (for IWIP) 3. * Resolution Recommended: Displays the number of pending receiving transactions. for the order-shipments which have been invoiced in AR. This will display transactions under the following statuses: * Resolution Required: Displays the number of unprocessed material transactions. Check and fix pending Transactions Check and fix any rejected transactions from the Inventory Accounting Period Window: click on the pending button to display pending transactions. pending material transactions. The interface managers that need to be run are as follows: * Cost Manager (mandatory) * Material Transaction Manager (Optional. revenue recognition has been processed in AR. and pending shop floor move transactions existing in this period. once closed. Any adjustments to the period can be made via new inventory transactions as required. cannot be re-opened. 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. uncosted material transactions. Oracle Financials E-Business Suite Release 12 Period End Procedures 60 . In case of error. 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. These must be resolved before the period is closed. Transfer Summary or Detail Transactions If Order Management is used. 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.

open the next inventory period using the Inventory Accounting Periods window. Close the current Oracle Payables and Oracle Purchasing Periods Complete all steps required to close Oracle Payables and Oracle Purchasing. Close the Current Inventory Period Closing the inventory period using the Inventory Accounting Periods window automatically transfers summary transactions to the GL interface table. journal entries associated with transactions. View accounting. 6. prior to closing the inventory period. a receipt cannot be entered for that period. 7. However. The period close performs the following: * Closes the open period for Oracle Inventory and Oracle Work in Process.Final Accounted. Oracle Purchasing should be closed before Oracle Inventory. Draft Accounted. and the period was closed. Errored can be selected). and a closed period cannot be re-opened. If Oracle Purchasing or Oracle Inventory are closed. to enable the running of purchase accruals to accrue expenses on un-invoiced receipts. and accounting events by accessing the Sub ledger Accounting user interface from the View Transactions window and various statuses (e. Oracle Financials E-Business Suite Release 12 Period End Procedures 61 . Oracle Payables is closed prior to closing Oracle Purchasing. This still allows miscellaneous transactions corrections in inventory. Attention: The Transfer Journal Entries to GL Cost Management Program transfers the accounting details for all the inventory organizations within a Ledger. as a manual procedure. since transactions cannot be posted to a closed period.If the Create Accounting Program is run in Final Mode without transferring to GL then run the ‘Transfer Journal Entries to GL Cost Management’ which transfers the accounting to GL. Attention: This process needs to be completed for each defined Inventory Organization. * Creates summary or detail work in process accounting entries in the GL interface. But no adjustments to that period can then be entered. * Creates summary or detail inventory accounting entries in the GL interface. Open the Next Inventory Period Prior the first day of data entry. click on the pending button to display any remaining pending transactions and make the appropriate resolutions. Attention: If this step was by-passed. Attention: This process needs to be completed for each defined Inventory Organization. As explained in step 3 above.g. 5. a GL Transfer would automatically be initiated.

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

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

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

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

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

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

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

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

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

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

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

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

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

it is advisable to create a standard period-end accounting report set that can be run at each period end. discard any obsolete versions of your report for that accounting period. Financial Consolidation Hub or the Hyperion Consolidation functionality. 12. Run the Period Close Exceptions Report This is a new step in Release 12. Revalue Balances (Optional) Revalue account balances to update functional currency equivalents. Suggestion: To prevent confusing different versions of accounting reports for a specific accounting period. Translatae account balances to any defined currency. Custom accounting reports can be created by using the ‘Financial Statement Generator (FSG)’. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) To maintain a consistent audit trail. Consolidate Ledgers (Optional) Attention: You can consolidate using Global Consolidation System. Request financial reports such as: a) Balance Sheets e. Maintain historical rates or amounts for any owner’s equity accounts to be translated. Whichever you choose you can run your extract programs to extract the data from General Ledger to the consolidation systems. * Consolidate within ledgers a) Enter consolidating journal entries Oracle Financials E-Business Suite Release 12 Period End Procedures 75 .g. 13. Detail Trial Balance Report b) Income Statements c) Gross Margin Analysis 11. 10. Maintain period-end exchange rates for all foreign currencies to which you want to translate.9a. 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. Maintain average exchange rates for all foreign currencies to which you want to translate. 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.

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

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

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

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

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

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

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

Run Maintenance Processes 5. (Optional) 1.Run Create Accounting 12. General Ledger 2. Create Miscellaneous Transactions 6a.Period End Process 10. 9. Run Mass Additions Transfer to Oracle Assets 9. Review AutoReconciliation Execution Report 9.Generate Draft Revenue for All Projects 9. Assets 10. Complete All Maintenance Activities 4. Run Receipt Accruals . Reconcile Outstanding Customer Balances 4. Complete All Transactions for the Period Being Closed 6. Generate Bank Statement Cashflows 8. Receivables 7. Projects 3. Perform Year End Encumbrance Processing. Reconcile Transaction Activity for the Period 3. Inventory / Cost Management. Accrue Uninvoiced Receipts 1.Run Generation Revenue Accounting Events Process 11.Interface Transactions to Other Applications 2. Generate Sweep Transactions 4.Generate Invoices 5. Transfer Summary or Detail Transactions 9. Run the Cost Distribution Processes 6a. Load Bank Statements 3. Open the Next Oracle Projects Period 3. Order Management 4. Reconcile Accounts . Treasury 11. Complete All Transactions for the Period Being Closed 2. Payables 6. Assign All Assets to Distribution Lines 5. Cash Management 5.Run the Generate Cost Accounting Events Program 7. Complete All Transactions for the Period Being Closed 2.Review and Release Revenue for All Projects 10. Purchasing 8.Perpetual Accruals 10. Open the Next Inventory Period Oracle Financials E-Business Suite Release 12 Period End Procedures 83 . Reconcile Bank Statements 6. Review the Unapplied Receipts Register 8.2. Reconcile Oracle Payables Activity for the Period 11. Complete Bank Transfers 7. Reconcile to Inventory 4.

Upload Journals from ADI (Applications Desktop Integrator) 84 19. Run the GL Reconciliation Report 14. Order Management 10. Permanently Close the Oracle Projects Period (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures . 6. Third Party Balances Report 2.Run Period Close Exceptions and Tieback Reports 8. Run Calculate Gains and Losses (Optional) 4. Post to General Ledger 13.Change the Current Oracle Projects Period Status from Pending Close to Closed 17. Open the Next Oracle Payables Period 6. Create Service Contracts (Optional) 4. Reconcile Oracle Assets to Oracle General Ledger Using Reports. Run Transactions Available for Reconciliation Report 11.Update Project Summary Amounts 10. Create Accounting 14. Review and Post Journal Entries 10. Print Invoices 13. Close the Current Oracle Receivables Period 12. Rollback Depreciation 15. 11. 11. Run Responsibility Reports (Optional) 11. Reconcile the Journal Import Process 10. Reconcile the General Ledger Transfer Process 6. Open the Next Oracle Purchasing Period. Resolve Unreconciled Statement Lines 9. Recocncile Cost Distribution Lines with General Ledger (Optional) 21. Run Bank Statement Detail Report 12. Run Standard Period End Reports and reconcile the Perpertual Inventory with GL 9. 8. Depreciation Projections (Optional) 12. Reconcile Receipts to Bank Statement Activity for the Period 7. Inventory / Cost Management. Run Final Project Costing and Revenue Management Reports 16. Run the Account Analysis Report for the General Ledger Cash Account 15. Assets 10. Reconcile receipts. Treasury 11. Reconcile to Oracle Receivables (Optional) 13. Run Depreciation 11. Purchasing 8. Validate the Work in Process Inventory 5. Post to the General Ledger 12. Review the Account Analysis Report 16.2. Run Standard Period End Reports 8. 3. Projects 3. Run Standard Period End Reports (Optional) 7.Transfer Invoices to Oracle Receivables 12.Advance the PA Reporting Period (optional) 18. Cash Management 5.Restore Access to User Maintenance Activities 20. Close the Current Oracle Purchasing Period. Close the Current Oracle Payables and Oracle Purchasing Periods 7. Close the Current Inventory Period 9. Create Deferred Depreciation Journal Entries (Optional) 8. Correct any Invalid Entries to the General Ledger Cash Account (Optional) 9. Receivables 7. Review the Subledger Period Close Exceptions Report 13. Payables 6. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3. General Ledger 5. Resolve Exceptions on the AutoReconciliation Execution Report 9.

Generate Reversal Journals (Optional) 6. Cash Management 5. Run Reports for Tax Reporting Purposes (Optional) 14. Run the Period Close Exceptions Report 10. Purchasing 8. Receivables 7. Run Reports for Tax Reporting Purposes (Optional) 4. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) 11. Translate Balances (Optional) 13. Reconcile Intercompany (optional) 14. Generate Recurring Journals (Optional) 7. Run the Key Indicators Report (Optional) 15. Treasury 11. Payables 6. Assets 10. Open the Next Oracle Receivables Period 18. 9.2. Review Account Analysis Report 17. Post All Journal Batches 9a. General Ledger to Oracle General Ledger (optional) 14. Inventory / Cost Management. Revalue Balances (Optional) 12. Consolidate Ledgers (Optional) 13a. Review and Correct Balances (Perform Reconciliations) Oracle Financials E-Business Suite Release 12 Period End Procedures 85 . Complete NonOracle Sub-ledger Interfaces to Oracle General Ledger (Optional) 5. Generate Mass Allocation Journals (Optional) 8. Projects 3. Reconcile Posted Journal Entries 13. Review and Verify Journal Details of Unposted Journal Entries 9. Review the Unposted Items Report 16. Order Management 4.

General Ledger 15. Cash Management 5. Purchasing 8. Order Management 4. Run Financial Reports for the Closed Period 20. Treasury 11.2. Enter Adjustments and / or Accruals and Post 16. Perform Final Adjustments 17. Run Reports for Tax Reporting Purposes (Optional) 21. 9. Close the Current Oracle General Ledger Period 18. Receivables 7. Open the Next Oracle General Ledger Period 19. Inventory / Cost Management. Payables 6. Perform Encumbrance Year End Procedures (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures 86 . Assets 10. Projects 3.

1 558421.1 743390.1 761502.4 Reconciliation Reports On Standard Cash Receipt.1 740297.1 579631.1 What Is The Period Close Process For Oracle Assets In 557948.1 728871. GL Transfer.7:00 pm MDT (Conf. Key: R12) November 19 SLA: Troubleshooting the AP TO GL Reconciliation Subledger Accounting (SLA): FAQ for Support Engineers 749679.aka Open Account AP Balances Listing R12 Trial Balance FAQs R12 Troubleshooting Accounting Issues (in Payables) R12 Troubleshooting Period Close in Payables R12: Oracle Financials Year-End Close and Reconciliation Resources R12: The Differences between the AP Trial Balance in R12 and 11i Release 12 Close Process & Reconciliation .1 436128.1 604739.1 605707.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 751830.1 759002.1 Useful Articles for R12 General Ledger Support Engineers 369993.1 735522.1 579373. Document Title Doc ID AR: What are the recommended patches for AR-GL Posting. Reconciliation and Data Integrity Issues? 'FAQs' for Period Close and Unaccounted Transactions topic in Oracle Payables GL_DATE Difference On R12.1 437422.0. How To Diagnose And Reconcile R12 Inventory AP Accrual Transactions Using Reconciliation Reports How To Diagnose Issues With Create Accounting Process For Procure To Pay Cycle in R12 Period Close Reconciliation Report Is Showing Unusual Discrepancy R12 Accounting FAQ's R12 Accounting.1 Release 12? Oracle Financials Release 12 Period End Procedures 87 .1 579836. Period Close and Trial Balance 'How To' documents R12 SLA: New R12 Payables Trial Balance -.1 732928.

Lucia Scaltriti. Bertrand Vuigner. Murali Voora. All rights reserved. without our prior written permission. Mien-Lin Tan. nor subject to any other warranties or conditions. Oracle Financials Release 12 Period End Procedures 88 .Oracle Financials Release 12 Period End Procedures June 2009 Author: Oracle Consulting Contributing Authors and Reviewers: Suneel Bhaskar. Julia Baeva. Terrance Wampler. Bill Tokheim. Menno Koomen. whether expressed orally or implied in law.650. Amrita Mehrok. Oracle is a registered trademark of Oracle Corporation and/or its affiliates.506.506. Kannan Tarakad. This document is provided for information purposes only and the contents hereof are subject to change without notice. Sarah Bowen. Helle Hennings. Other names may be trademarks of their respective owners.S. CA 94065 U. We specifically disclaim any liability with respect to this document and no contractual obligations are formed either directly or indirectly by this document.7000 Fax: +1. Simer Sahani.com Copyright © 2009. This document is not warranted to be error-free. for any purpose.A. Ashish Pathak. Ramaswamy Krishnamurti. Chris Cianciolo. Oracle and/or its affiliates.7200 oracle. Barbara Fox.650. including implied warranties and conditions of merchantability or fitness for a particular purpose. Henk Brons Oracle Corporation World Headquarters 500 Oracle Parkway Redwood Shores. electronic or mechanical. This document may not be reproduced or transmitted in any form or by any means. Worldwide Inquiries: Phone: +1. Elise Mattei.

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