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

i

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

............... Review and Release Revenue for All Projects................................................................................................. Permanently Close the Oracle Projects Period (Optional) ............................................................................................................ Reconcile Cost Distribution Lines with General Ledger (Optional)...................29 13.............. 32 Project Periods and General Ledger Periods........................................................ 22 Procedures .....33 2................................................................................................37 9.......................................................................38 17............................. Complete All Transactions for the Period Being Closed ........... ...............................................................................36 7................. Reconcile Outstanding Customer Balances ............. 40 1.................................................40 3... Transfer Invoices to Oracle Receivables.. Change the Current Oracle Projects Period Status from Open to Pending Close.............................................. Complete All Transactions for the Period Being Closed .....................................................................................................................................................................................29 12..............................37 10............................................................................................. 22 1.....36 8.............40 2................................................ Reconcile Oracle Payables Activity for the Period ...................................................................................................... 40 Procedures ............................................42 Oracle Financials E-Business Suite Release 12 Period End Procedures .........................................................................................39 18.......................................................39 19...................33 Procedures ......................................32 Period Statuses ...........................................................39 20................37 11..................................... Close the Current Oracle Payables Period ...35 6a. Run the Generate Cost Accounting Events Program .......................................................................................25 8........................................................22 2.....38 16....................................................................26 9............................29 14........................... 33 1...................... Reconcile Payments to Bank Statement Activity for the Period............. Run Maintenance Processes........................................... 40 Business Requirements ................................ Run the Payables Approval Process for All Invoices ................................... Reconcile Transaction Activity for the Period........................................................................................................... Accrue Uninvoiced Receipts............... Update Project Summary Amounts................................................37 14.38 15.....................................39 21...................... Open the Next Oracle Payables Period ........................... Run Generation Revenue Accounting Events Process.......................................................................................... Submit the Unaccounted Transactions Sweep Program ................................ Review the Payables to General Ledger Posting process After Completion....... Run Mass Additions Transfer to Oracle Assets ................................. Restore Access to User Maintenance Activities ........................................................... Generate Invoices..........................................................................................................................Business Requirements ................................................24 5.......................34 6.......................... Change the Current Oracle Projects Period Status from Pending Close to Closed ........................................................................................................................ Complete all Maintenance Activities... Run the Cost Distribution Processes............................................................................................ Run the Key Indicators Report (Optional) ......39 CHAPTER 6 ORACLE RECEIVABLES.................................................................. Transfer All Approved Invoices and Payments to the General Ledger...............26 10.............................................23 3...................................32 General Exception Handling at Period End .......... Run Reports for Tax Reporting Purposes (Optional).............................................................33 4........................ Interface Cost Transactions to Other Applications .........................................................23 4......... 32 Business Requirements .................24 6.......................................................................................... Run Period Close Exceptions and Tieback Reports ...............37 13........................... Run Create Accounting to Process Revenue Accounting Events ............37 12.............................................................................................................. Review and Resolve Amounts to Post to the General Ledger .................25 7.26 11............................................... Generate Draft Revenue for All Projects ................................30 CHAPTER 5 ORACLE PROJECTS ................................................................................ Run Final Project Costing and Revenue Management Reports ..........34 5........ Advance the PA Reporting Period (Optional) ..33 3........................................................ Complete All Transactions for the Period Being Closed ........ Open the Next Oracle Projects Period ..........

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

..........68 CHAPTER 10 ORACLE TREASURY ..72 3....67 11................................................5.........SUMMARY ................... Transfer Journals to General Ledger.................................................................................... Reconcile Intercompany (optional) ....................78 17........... Generate Reversal Journals (Optional) ........................................................ 71 1............................................... Translate Balances (Optional).......73 8.............................................................................................................73 7...................................................................................................................................75 10.............................................................................78 18..................65 6.79 21.......72 4. Open the Next Oracle General Ledger Period ...................................................................................................................................75 13..............................66 8.................... 69 Business Requirements ............... Generate Recurring Journals (Optional) ...........................................................................................70 CHAPTER 11 ORACLE GENERAL LEDGER ............................... Reconcile Oracle Assets to the General Ledger Using Reports................ Generate Mass Allocation Journals (Optional)......................................... Run Reports for Tax Reporting Purposes (Optional)........................................................................... Review and Post Journal Entries.................................. Post All Journal Batches .............72 2.......................74 9a.66 7............................................70 5...................................69 2......................................73 6...................................................................... Close the Current Oracle General Ledger Period............................................................................................................................................................. Complete Daily Trading Activities ..71 Procedures ............................................................................................................................................. 71 Business Requirements .................. Create Deferred Depreciation Journal Entries (Optional)............................................................................................................ Generate Accruals and Amortization .....................75 12...........................................................69 3....................... Perform Encumbrance Year End Procedures (Optional) ....................... Upload Journals from Web Applications Desktop Integrator (Web ADI) to Oracle General Ledger (Optional)..................................................................................................................... 82 APPENDIX: MORE INFORMATION ........................................................................... Create Accounting..............................................................................77 14.........................................................................................................................................................................................................................79 20....................... Revalue Balances (Optional) ...... Depreciation Projections (Optional) ........................ Generate Journals....... 71 Period End Close.......................................................... Perform Revaluation ......................................... Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) ...............................................66 9. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger....69 4............... Perform Final Adjustments ................ Review and Verify Journal Details of Unposted Journal Entries ................... Rollback Depreciation..................................................................75 13a.................................. Ensure the Next Accounting Period Status is set to Future Entry.............................................. Enter Adjustments and / or Accruals and Post............................................................. Run Financial Reports for the Closed Period................................................ 87 Related My Oracle Support Information.........67 10...................................... Complete Non-Oracle Sub-ledger Interfaces to Oracle General Ledger (Optional: only required if you want to post from non-Oracle systems) .. Consolidate Ledgers (Optional) ..........................73 9.......... 69 Procedures .................................................................................................. Review and Correct Balances (Perform Reconciliations)...........................73 5.......................................................................78 16...........................................................78 19................................................................................................................................................................................75 11....77 15.................................................................................................................................................71 Combined Basis Accounting........ Run the Period Close Exceptions Report .............................................................................................................79 CHAPTER 12 PERIOD END PROCESSING ........................................................................................... 87 Oracle Financials E-Business Suite Release 12 Period End Procedures .......................................................................................... Run Responsibility Reports (Optional).......................................................................................................... 69 1.......................................

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

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

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

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

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

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

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

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

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

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

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

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

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

Oracle Financials E-Business Suite Release 12 Period End Procedures 21 . Run the GL Reconciliation Report Use this report to reconcile the General Ledger cash account to a bank statement balance. * Transfer journal entry transactions from Oracle Payables and Oracle Receivables to your General Ledger. Warning: To ensure that this report is accurate. This report lists a balance and an adjusted balance for the bank statement. and journal entries. Transactions entered directly via General Ledger will have a Source of Manual or possibly Spreadsheet if Web Applications Desktop Integrator (Web ADI) is used. Valid sources will include Payables and Receivables. 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. If you do not transfer the journals to General Ledger immediately. payments. 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. It also lists a separate adjustment amount for un-reconciled receipts. Run the Account Analysis Report for the General Ledger Cash Account Run the Account Analysis Report from General Ledger for the General Ledger Cash Account Flexfield and sort by Source. you can later submit the "Transfer Journal Entries to GL" concurrent program. 13. 16. Such journals cannot be transferred or posted to General Ledger. in which case draft journal entries will be created. Attention: Final journal entries cannot be further modified in Cash Management. 14.12. if transfer from sub-ledgers was not in FINAL POST mode. * Post journals in General Ledger. Correct any Invalid Entries to the General Ledger Cash Account (Optional) Reverse or amend any journals incorrectly posted to the General Ledger Cash Account. you must first perform these tasks: * Reconcile all statements in Cash Management. Please make sure you are satisfied with the draft journal entries before creating final accounting. In addition to creating final accounting entries. The program creates and optionally transfers and posts journal entries to General Ledger. as well as bank errors. To prevent invalid journal entries to the General Ledger Cash Account enable security rules appropriately. 15. the program can be run in a draft mode. which were highlighted during the review of the Account Analysis Report.

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

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

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

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

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 . From the window you can choose the following buttons: • Review (This submits the Period Close Exceptions Report. 4. It is automatically submitted by General Ledger when closing a GL period if there are unprocessed accounting events or untransferred journal entries. This process automatically submits the Subledger Period Close Exceptions Report. correct any accounting errors and resubmit the Create Accounting Process. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. In the Sweep to Period field. The program transfers unaccounted transactions to the period you specify by updating the GL dates to the first day of the new period. Choose the Sweep button. You can then close the current accounting period in Oracle Payables. 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. Payables automatically produces the Unaccounted Transactions Sweep report. Payables provides the next open period. Accrue Uninvoiced Receipts (Refer to Chapter 7 Period-End Procedures for Oracle Purchasing) 10. Payables opens a message window. 8. Choose the Exceptions button in the Control Payables Periods window. Choose the Submit button to submit the Unaccounted Transactions Sweep Program. You can accept this default or enter another open period. The ‘Unaccounted Transactions Sweep Program’ will not roll forward accounted transactions. You can also generate the Subledger Period Close Exceptions Report through a concurrent request as follows: * For the application associated with the responsibility * For all applications in the General Ledger responsibility 9. or accounted transactions with errors. Payables opens the Sweep to Period window. To create successful accounting entries for accounted transactions with errors. In the Control Payables Periods window if you try to close a period that has exceptions then the system enables the Exceptions button.) • Sweep 3. 2.distribution GL dates. 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’.

for a specific accounting period. Report Name = "Accounts Payable Trial Balance (Old) " Short Name = APXTRBAL This is the R11i Accounts Payable Trial Balance. This is run to generate trail balance as of last day of prior period. with the Oracle General Ledger Creditors Control Account. 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). journal entries should be posted for the invoice and payment activity for the period. prior to running the report. use the applicable Payables modified version of the report. it should be disabled in R12.1 and 553484. there are 4 Concurrent Programs related to the trial balance: 1. This report should NOT be used for Payables. 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. Please refer to the My Oracle Support note # 604739. For reconciliation of Oracle Payables and Oracle General Ledger when posting is only performed at period end. Instead. To obtain the most up-to-date trial balance for a given period. this is the correct report name to run if Trial Balance Remodel Phase 4 or higher has been applied. 2. 4.1 to understand which specific report is applicable in your case.This report is a modified version of the Open Account Balance Listing report. In R12. The report provides details of the outstanding accounts payable liability for the organization. This report can be used to generate payables trial balance. Please refer to the My Oracle Support note # 553484. Report Name = "Accounts Payable Trial Balance" Short Name = APXTRBAL This is the R12 Accounts Payable Trial Balance. *Accounts Payable Trial Balance report name. 3.This report basically generates the payables trial balance that can be used for reconciliation of the total accounts payable liabilities in Oracle Payables.1 for more details on this report. The Open Account AP Balance Listing is based on a Subledger Accounting extract and enables you to identify the open Accounts Payable transactions that make up each Accounts Payable balance. Oracle Financials E-Business Suite Release 12 Period End Procedures 27 . Report Name = "Open Account Balance Listing" Short Name = XLATBRPT This is a Subledger Accounting report.

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

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

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

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

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

Change the Current Oracle Projects Period Status from Open to Pending Close This is an interim status. which allows you to interface and adjust transactions in the period but does not allow transaction entry. 2. This process needs to be performed for each operating unit defined. 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. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. 3. without accounting for them. 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 .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. 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. 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. Procedures 1.

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

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 . 6. ensure that all new supplier invoices processing for the current GL period has stopped. 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 supplier invoices from Oracle Payables.Run the AUD: Missing Timecards Report Interface Supplier Invoices from Oracle Payables Before generating project revenue or running final cost event processes. Access to these activities should be controlled. 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. Run PRC: Interface Supplier Invoices from Payables Interface Expense Reports from Oracle Payables Before generating project revenue or running final cost distribution processes. after verifying that all transactions for the period have been accounted for. Warning: If your PA period matches a GL/AP month end. import all eligible expense reports from Oracle Payables to create pre-approved expense report batches. These expense reports may have been entered via Self-Service Expenses or Expense Reports in Oracle Payables. The following transaction sources are pre-defined.

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

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

Oracle Financials E-Business Suite Release 12 Period End Procedures

37

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.

Oracle Financials E-Business Suite Release 12 Period End Procedures

38

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.

Oracle Financials E-Business Suite Release 12 Period End Procedures

39

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

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

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

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

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

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

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

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

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

Output from the tax extract is designed to look as close to a simple tax report as possible. 18. Note: To avoid duplication with subledger journal entries. 17. Run Reports for Tax Reporting Purposes (Optional) A variety of standard reports can be used to provide tax information.Review this report and compare it with the Third Party balances report. which is required to be reported to the relevant Tax Authority. The E-Business Tax data extract draws tax information from each application and stores the data in an interface table. 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 . including withholding tax. Open the Next Oracle Receivables Period Open the next period in Oracle Receivables using the Open/Close Accounting Periods window. General Ledger journal entries imported from Subledger Accounting are not included in the report.

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

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

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

Identify the Invoice Price Variances amount and Accrued Receipts amount in the AP Accrual Account. work in process. These reports enable you to identify the following issues in receiving. purchasing. At any given time. Run the Invoice Price Variance Report for the current period. 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. 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.(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. inventory. All the affected PO distributions (in the case of AP/PO transactions and individual transactions in the case of miscellaneous transactions) Oracle Financials E-Business Suite Release 12 Period End Procedures 51 . Manually remove the Invoice Price Variance amount from the AP Accrual Account using your General Ledger. the 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. and identify errors.* AP Accrual Account * Inventory Account . The Accrual Reconciliation Reports are used to analyze un-invoiced receipts. and to reconcile the balance of the AP accrual accounts. distinguish accrued receipts from invoice price variances.

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

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

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

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

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

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

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

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

and pending IWIP costing transactions existing in this period. Check and fix pending Transactions Check and fix any rejected transactions from the Inventory Accounting Period Window: click on the pending button to display pending transactions. and 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. pending material transactions. Since a period. 4.2. cannot be re-opened. Though the accounting period can be closed. running this process prior to closing the period facilitates validating the interface transactions. Transfer Summary or Detail Transactions If Order Management is used. Any adjustments to the period can be made via new inventory transactions as required. This will display transactions under the following statuses: * Resolution Required: Displays the number of unprocessed material transactions. Oracle Financials E-Business Suite Release 12 Period End Procedures 60 . and pending shop floor move transactions existing in this period. * Resolution Recommended: Displays the number of pending receiving transactions. and the accounting entries between ‘Deferred COGS account’ and ‘COGS account’ must be generated in INVCST. once closed. depending on INV profile option “TPINV: Transaction Processing Mode”) * Move Transaction Manager (for IWIP) 3. Attention: This process needs to be completed for each defined Inventory Organization. In case of error. once it is closed these transactions cannot be processed in that period. The interface managers that need to be run are as follows: * Cost Manager (mandatory) * Material Transaction Manager (Optional. uncosted material transactions. Check Inventory and Work in Process Transaction Interfaces Check the Interface Managers window to ensure that there are no unprocessed background or concurrent programs. 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. correct the error at the source. These must be resolved before the period is closed. for the order-shipments which have been invoiced in AR. revenue recognition has been processed in AR.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Request financial reports such as: a) Balance Sheets e. Maintain period-end exchange rates for all foreign currencies to which you want to translate. Financial Consolidation Hub or the Hyperion Consolidation functionality. Maintain historical rates or amounts for any owner’s equity accounts to be translated. 12. and ensure a follow-up with relevant colleagues if any exceptions are identified. Run the Period Close Exceptions Report This is a new step in Release 12.g. * Consolidate within ledgers a) Enter consolidating journal entries Oracle Financials E-Business Suite Release 12 Period End Procedures 75 . discard any obsolete versions of your report for that accounting period. The General Ledger accounting can run the Period Close Exceptions report to double check that there are no outstanding transactions in the subledgers and GL. Maintain average exchange rates for all foreign currencies to which you want to translate. Whichever you choose you can run your extract programs to extract the data from General Ledger to the consolidation systems. 10. Detail Trial Balance Report b) Income Statements c) Gross Margin Analysis 11. Custom accounting reports can be created by using the ‘Financial Statement Generator (FSG)’.9a. Revalue Balances (Optional) Revalue account balances to update functional currency equivalents. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) To maintain a consistent audit trail. Translate Balances (Optional) Define any new currencies to which accounting balances are to be translated. 13. Translatae account balances to any defined currency. Consolidate Ledgers (Optional) Attention: You can consolidate using Global Consolidation System. it is advisable to create a standard period-end accounting report set that can be run at each period end. Suggestion: To prevent confusing different versions of accounting reports for a specific accounting period.

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

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

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

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

c) Run Year End Carry Forward This process enables you to determine the criteria that you want to use for carrying forward your encumbrances The year-end carry forward is normally completed in two steps: 1) Perform the Year End Carry Forward in Preview mode 2) Perform the Year End Carry Forward without selecting the Preview option Within the Year End Carry Forward form. where you have attached the funding budget to defined account ranges within this form.Select the budgets where they are different Oracle Financials E-Business Suite Release 12 Period End Procedures 80 . Verify that the next year budget figures have been entered. To perform Encumbrance year-end procedures. * From/To Budget and Budget Organization.This rule enables you to select Encumbrances Only. 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.Select ‘All’ for all encumbrances.* Use mass allocations to bring forward part of the funds available. * Carry forward budgets into the current appropriation budget. If you define a new budget for the purposes of the next year budgetary control. 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. or Funds Available as the basis for the Carry forward * Encumbrance Type .e. Mass budget processing also allows you to combine these budgets. Define Summary Accounts. Encumbrances and the Encumbered Budget. or select the encumbrance type that you require i. where summary templates are used as the basis for the budgetary control procedures. or to a separate budget to identify between current year and carry forward amounts if required. you may also need to update the following: Define Budget Organizations. you can select a wide range of criteria for carrying forward balances: * Carry Forward Rule . Obligation etc. b) Open the next budget year Use the Define Budget window to define a budget for the next budget period. Commitment. including Carry Forward.

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

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

Order Management 4.Period End Process 10. Reconcile Outstanding Customer Balances 4. Receivables 7. 9. Create Miscellaneous Transactions 6a.Run Create Accounting 12. Complete All Maintenance Activities 4. Complete Bank Transfers 7. Run the Cost Distribution Processes 6a.Interface Transactions to Other Applications 2. Run Mass Additions Transfer to Oracle Assets 9. Complete All Transactions for the Period Being Closed 6.Review and Release Revenue for All Projects 10.Perpetual Accruals 10. Reconcile Bank Statements 6. Perform Year End Encumbrance Processing.Run Generation Revenue Accounting Events Process 11. Generate Sweep Transactions 4. Reconcile Accounts . Open the Next Inventory Period Oracle Financials E-Business Suite Release 12 Period End Procedures 83 . Accrue Uninvoiced Receipts 1.Generate Draft Revenue for All Projects 9.2. Purchasing 8. Treasury 11. Reconcile Oracle Payables Activity for the Period 11. Load Bank Statements 3. Reconcile to Inventory 4. (Optional) 1. Transfer Summary or Detail Transactions 9. Assets 10.Generate Invoices 5. Reconcile Transaction Activity for the Period 3. Run Receipt Accruals . Payables 6. Complete All Transactions for the Period Being Closed 2.Run the Generate Cost Accounting Events Program 7. Cash Management 5. Review the Unapplied Receipts Register 8. Run Maintenance Processes 5. Inventory / Cost Management. Complete All Transactions for the Period Being Closed 2. Generate Bank Statement Cashflows 8. Review AutoReconciliation Execution Report 9. Assign All Assets to Distribution Lines 5. General Ledger 2. Open the Next Oracle Projects Period 3. Projects 3.

General Ledger 5. Reconcile the Journal Import Process 10. Run Final Project Costing and Revenue Management Reports 16. Post to General Ledger 13. 11. Review and Post Journal Entries 10. Close the Current Oracle Purchasing Period.Transfer Invoices to Oracle Receivables 12. Purchasing 8. Run Standard Period End Reports and reconcile the Perpertual Inventory with GL 9. Open the Next Oracle Purchasing Period.Run Period Close Exceptions and Tieback Reports 8. Run Transactions Available for Reconciliation Report 11. 8. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3.2. Reconcile receipts. Run the Account Analysis Report for the General Ledger Cash Account 15. Close the Current Oracle Payables and Oracle Purchasing Periods 7. Run Standard Period End Reports (Optional) 7. Assets 10. Payables 6. Permanently Close the Oracle Projects Period (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures . 3. Run Standard Period End Reports 8. Print Invoices 13. Resolve Exceptions on the AutoReconciliation Execution Report 9. Order Management 10.Update Project Summary Amounts 10. Recocncile Cost Distribution Lines with General Ledger (Optional) 21. Reconcile to Oracle Receivables (Optional) 13. Correct any Invalid Entries to the General Ledger Cash Account (Optional) 9. Run the GL Reconciliation Report 14. Reconcile the General Ledger Transfer Process 6. Cash Management 5. Run Depreciation 11. Projects 3. Rollback Depreciation 15. Close the Current Oracle Receivables Period 12.Advance the PA Reporting Period (optional) 18. Treasury 11. Create Accounting 14. Run Calculate Gains and Losses (Optional) 4. Reconcile Oracle Assets to Oracle General Ledger Using Reports. Run Bank Statement Detail Report 12. Reconcile Receipts to Bank Statement Activity for the Period 7.Restore Access to User Maintenance Activities 20. Post to the General Ledger 12. Validate the Work in Process Inventory 5. 11.Change the Current Oracle Projects Period Status from Pending Close to Closed 17. Review the Subledger Period Close Exceptions Report 13. Create Deferred Depreciation Journal Entries (Optional) 8. Resolve Unreconciled Statement Lines 9. Inventory / Cost Management. Depreciation Projections (Optional) 12. Open the Next Oracle Payables Period 6. Receivables 7. Run Responsibility Reports (Optional) 11. Third Party Balances Report 2. 6. Upload Journals from ADI (Applications Desktop Integrator) 84 19. Review the Account Analysis Report 16. Create Service Contracts (Optional) 4. Close the Current Inventory Period 9.

Complete NonOracle Sub-ledger Interfaces to Oracle General Ledger (Optional) 5. General Ledger to Oracle General Ledger (optional) 14. Translate Balances (Optional) 13. Review Account Analysis Report 17. Consolidate Ledgers (Optional) 13a. Run GL Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) 11. Review the Unposted Items Report 16. Generate Mass Allocation Journals (Optional) 8. Cash Management 5. Review and Verify Journal Details of Unposted Journal Entries 9. Assets 10. Reconcile Posted Journal Entries 13. Open the Next Oracle Receivables Period 18. Inventory / Cost Management. Generate Reversal Journals (Optional) 6.2. Post All Journal Batches 9a. Receivables 7. Treasury 11. Review and Correct Balances (Perform Reconciliations) Oracle Financials E-Business Suite Release 12 Period End Procedures 85 . Purchasing 8. Reconcile Intercompany (optional) 14. Run the Key Indicators Report (Optional) 15. Generate Recurring Journals (Optional) 7. Revalue Balances (Optional) 12. Order Management 4. Run Reports for Tax Reporting Purposes (Optional) 4. 9. Run Reports for Tax Reporting Purposes (Optional) 14. Payables 6. Projects 3. Run the Period Close Exceptions Report 10.

General Ledger 15. Order Management 4. Perform Encumbrance Year End Procedures (Optional) Oracle Financials E-Business Suite Release 12 Period End Procedures 86 . Close the Current Oracle General Ledger Period 18. Cash Management 5. Payables 6. Open the Next Oracle General Ledger Period 19. Receivables 7.2. Treasury 11. 9. Inventory / Cost Management. Projects 3. Enter Adjustments and / or Accruals and Post 16. Run Financial Reports for the Closed Period 20. Assets 10. Run Reports for Tax Reporting Purposes (Optional) 21. Purchasing 8. Perform Final Adjustments 17.

1 732928.1 728871. GL Transfer.1 751830.1 558421.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 761502.1 436128. Period Close and Trial Balance 'How To' documents R12 SLA: New R12 Payables Trial Balance -.1 579373.1 579836.1 What Is The Period Close Process For Oracle Assets In 557948.1 Release 12? Oracle Financials Release 12 Period End Procedures 87 .1 437422.1 Useful Articles for R12 General Ledger Support Engineers 369993.1 735522.1 604739.1 743390.1 605707.1 740297.0. Reconciliation and Data Integrity Issues? 'FAQs' for Period Close and Unaccounted Transactions topic in Oracle Payables GL_DATE Difference On R12. 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.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 579631.7:00 pm MDT (Conf. Document Title Doc ID AR: What are the recommended patches for AR-GL Posting. Key: R12) November 19 SLA: Troubleshooting the AP TO GL Reconciliation Subledger Accounting (SLA): FAQ for Support Engineers 749679.1 759002.4 Reconciliation Reports On Standard Cash Receipt.

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

Master your semester with Scribd & The New York Times

Special offer for students: Only $4.99/month.

Master your semester with Scribd & The New York Times

Cancel anytime.