Steps for Closing Period in R12 Financials - Part 1 - USE FIREFOX

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Steps for Closing Period in R12 Financials - Part 1 - USE FIREFOX
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Oracle Financials E-Business Suite Release 12 Period End Procedures
This document outlines the period end procedures 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 (Release 12). This document is intended to be generic, and does not relate to a specific organization. Both mandatory and optional steps are included in the document. 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 year-end 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.

How this whitepaper is organized

This white paper contains of 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 11 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 all period-end in relation to activities performed in each of the applications.

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 Metalink Note where you have downloaded this document is a link where you can email us your comments.
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Steps for Closing Period in R12 Financials - Part 1 - USE FIREFOX

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

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Steps for Closing Period in R12 Financials - Part 1 - USE FIREFOX

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SubLedger Accounting, a new model between the Subledgers and GL.

2. 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.

In Release 11i the transactions and distributions represented the accounting. In Release 12 however distributions on transactions in subledgers are considered to be the default accounting and should therefore not be used for reconciliation purposes. The reason is that subledger accounting enables you to change the accounting for transactions to be different from the default accounting, and therefore the subledger accounting becomes the single source of truth for accounting reconciliations.

When you close your periods in each of the subledgers, General Ledger will in Release 11i automatically create the balancing lines for journals posted to General Ledger. This changes in Release 12 as subledger accounting creates the balancing lines at the time you account for the subledger transactions.

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Steps for Closing Period in R12 Financials - Part 1 - USE FIREFOX

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The subledger accounting journal represents your REAL accounting and the balancing lines are created as part of these Subledger Accounting Journals. When you close a period in Release 12 you’re actually closing subledger accounting. The journals can then be posted to General Ledger to update the General Ledger balances.

Differences between R11i and R12

3. SubLedger Accounting (SLA) – Reconciliation
From a reconciliation perspective the picture below shows what’s changed between R11i and R12. In Release 11i you reconciled your transactions and distributions to General Ledger through transactional reports. In the accounting reports in Release 11i you’d see the balances but not the transactional information.

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Steps for Closing Period in R12 Financials - Part 1 - USE FIREFOX

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In Release 12 there is no reason to reconcile distributions on transactions to General Ledger. You can still reconcile transaction reports to accounting reports. The new accounting reports in Release 12 now also contain more comprehensive information not just on balances but also on suppliers, customers and transactions.

The point to note is that when you do account balance reconciliation you should ignore distributions in Release 12, especially if you have altered your subledger accounting rules.

Reconciliation between R11i and R12

4. General – Period End Close Dependencies

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.com/apps-training/r12-functional-documents/468-how-. The diagram above shows the dependencies between some of the main Financials products and a couple of supply chain products. · Chapter 2 Oracle Projects 6 of 50 16-02-2011 23:22 . You have to close Oracle Payables before you close Oracle Purchasing to account for Purchasing Accruals at Period end. You actually have to close Oracle Cash Management before you close Oracle Receivables..USE FIREFOX http://apps2fusion.Part 1 . Before you start with the Period-End process you have to know what the dependencies are between the various Modules as described in the Chapters in this document. You also close Oracle Payables before you close Oracle Inventory and Oracle Assets. Finally you close all of your subledgers before you close General Ledger. as bank reconciliation in Cash Management will create miscellaneous receipts in Oracle Receivables.Steps for Closing Period in R12 Financials .

com/apps-training/r12-functional-documents/468-how-. Business Requirements Period end procedures for Oracle Projects has two main functions: Changing the status of the current period to closed To activate all the processes and controls necessary to produce reports that accurately reflect the period activity.Steps for Closing Period in R12 Financials . such as a 5-4-4 period split. transactions are summarized into periodic cycles for reporting and reconciliation. then you may need to put in place special procedures for the reconciliation of Projects to the General ledger. Future Enterable The period is open to accept transactions from other modules. projects may be based on a different periodic cycle to that of the General ledger. Permanently Closed No further processing is possible. but can be re-opened if required. Suggestion: If you have different periods in Projects. Usually used where modules are maintained in different periods.. Procedures 7 of 50 16-02-2011 23:22 . If the two sets of periods overlap. Open Period is available for data entry Closed Period is closed for processing. and allows users to correct unprocessed items prior to completing the period close. and transactions are likely to be posted across modules. 3. PERIOD STATUSES Oracle Projects has statuses similar to the standard period statuses as in other modules: Never Opened The period has never been used. GENERAL EXCEPTION HANDLING AT PERIOD END If you do not want to correct exceptions during the current GL period. you may like to consider using one of the alternate General ledger period conventions. Project periods may be based on a different period of time such as a week. Pending Close This status prevents transaction entry. This will enable you to more easily align Projects with General ledger for reconciliation purposes. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. PROJECT PERIODS AND GENERAL LEDGER PERIODS In Oracle subledgers. 5.USE FIREFOX http://apps2fusion. 2. Most subledgers have a periodic cycle that parallels the General ledger fiscal cycle. 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.Part 1 . then you can run the process “PRC: Sweep Transaction Accounting Events” to change the date on unaccounted transaction accounting events to the first day of the next open GL period. without accounting for them. such as Projects. while allowing minimum interruption of transaction processing. This chapter describes the procedures for performing period-end processing in Oracle Projects Release 12. 6.. and other modules. 1. However.

4. OPEN THE NEXT ORACLE PROJECTS PERIOD It is recommended that you open the next period to minimize interruption to users.USE FIREFOX http://apps2fusion. or use function and responsibility restrictions to prevent access to these areas during the period close procedure. 1. 2. 4.com/apps-training/r12-functional-documents/468-how-. who may require the ability to enter transactions in the new period during the current period close procedure. 3.. 2. 1. 3. This process needs to be performed for each Operating Unit defined. COMPLETE ALL MAINTENANCE ACTIVITIES As there are a number of maintenance activities that can affect the period close procedure. RUN MAINTENANCE PROCESSES It is recommend that the following maintenance processes be run in preparation for the period end: 8 of 50 16-02-2011 23:22 . 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 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.Part 1 .. 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. This process needs to be performed for each Operating Unit defined.Steps for Closing Period in R12 Financials .

. COMPLETE ALL TRANSACTION FOR THE PERIOD BEING CLOSED 1. Interface Expense Reports from Oracle Payables Before generating project revenue or running final cost distribution processes. import all eligible expense reports from Oracle Payables to create pre-approved expense report batches. a) Run Burden Schedule maintenance to assure that all burden schedules have been compiled 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 PRC: Add New Organization Compiled Burden Multipliers c) If changes or additions were made to pre-existing resource lists. import all eligible supplier invoices from Oracle Payables. 5.USE FIREFOX http://apps2fusion. Verify that all pre-approved timesheet batches in the current PA period have been released and approved. Enter and Approval all Timesheets for the PA Period Import all timesheets entered via Self-Service Time. Run PRC: Transaction Import. These expense reports may have been entered via Self-Service Expenses or Expense Reports in Oracle Payables. Interface Supplier Invoices from Oracle Payables Before generating project revenue or running final cost event processes. Warning: If your PA period matches a GL/AP month end.com/apps-training/r12-functional-documents/468-how-.Steps for Closing Period in R12 Financials . verify that all timecards are entered or accounted for. Transaction Source = Oracle Self-Service Time. update the project summary amounts before.Part 1 . not during. ensure that all new supplier invoices processing for the current GL period has stopped. The following transaction sources are pre-defined. Run PRC: Interface Expense Reports from Payables 4. Attention: One rejected expenditure item will cause an entire expenditure to be rejected. If Oracle Projects is the direct data source for payroll or for reconciling labor costs to payroll. Run the AUD: Missing Timecards Report 2. the period close Run PRC: Update Project Summary Amounts After Resource List Change 5.. Run PRC: Interface Supplier Invoices from Payables 3. Source Description 9 of 50 16-02-2011 23:22 . 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.

Transfer from Projects to GL can be achieved by submitting ‘Create Accounting’ – (PRC: Create Accounting) process from the SRS screen.Steps for Closing Period in R12 Financials . PRC: Distribute Labour Costs PRC: Distribute Usage & Miscellaneous Costs PRC: Distribute Expense Report Adjustments 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. General Ledger and Oracle Assets or revenue to Oracle Receivables before you can change the status of the current PA period to Closed. Inventory Inventory Misc Work Process In Manufacturing Material Costs Inventory Issues and Receipts entered in the Miscellaneous Transactions window in Oracle Inventory Manufacturing Resource Costs 5. Interface CIP Assets to Oracle Assets . by running the PRC: Generate Assets Lines for a range of projects process. Access to these activities should be controlled. them submit PRC: Submit Interface Streamline Processes with the appropriate streamline parameters to transfer the costs to GL.PRC: Interface Assets This process requires that prior to interfacing. 10 of 50 16-02-2011 23:22 . · 6. The program to be run is PRC: Generate Cost Accounting Events and PRC: Generate Cross Charge Accounting Events 8. all asset lines have been generated. This program has to be run to generate accounting events. RUN THE GENERATE COST ACCOUNTING EVENTS PROGRAM This is a new program in R12.. For more information refer to Oracle Project Costing User guide. 7. This program is owned by SLA.USE FIREFOX http://apps2fusion. which will be later used by SLA.Part 1 . INTERFACE COST TRANSACTIONS TO OTHER APPLICATIONS You must successfully interface all relevant costs to Oracle Payables. Journal Import can be submitted from GL to import the costs into GL. 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. 7.. 6A. Attention: Entering new expenditures or adjusting existing expenditures during the final cost distribution process may cause reconciliation problems. This program creates accounting. If accounting was performed without transferring to GL. after verifying that all transactions for the period have been accounted for.com/apps-training/r12-functional-documents/468-how-. transfers& posts to GL with the appropriate parameters.

8.Steps for Closing Period in R12 Financials .USE FIREFOX http://apps2fusion. This process: 11 of 50 16-02-2011 23:22 . the order of some of the above steps may be changed. and/or resolved prior to continuing with the period end Suggestion: Some of the above reports and processes may be run using the Submit Streamline Processes process. REVIEW AND RELEASE REVENUE FOR ALL PROJECTS Perform review of the revenue generated and approve the same. 1. This process ensures processes and reports are run and completed in the correct order.com/apps-training/r12-functional-documents/468-how-. 9. 12. If you use the Streamline process. 1. 10. 13. run the mass project revenue generation process. The same is achieved by PRC: Create Accounting 14. 10. Run PRC: Generate Inter-company Invoices for a Range of Projects for all projects. Attention: You can interface asset lines to Oracle Assets only after you have transferred the underlying expenditure items to General Ledger Note: Ensure that all interface transaction reports and exception reports are completed successfully. 1. Run PRC: Generate Draft Revenue for a Range of Projects for all projects. RUN GENERATION REVENUE ACCOUNTING EVENTS PROCESS Run the program PRC: Generate Revenue Accounting Events to generate events for revenue. Attention: Interface processes have become obsolete. 11. 12. GENERATE INVOICES Run PRC: Generate Invoices to generate Invoices ready for Interfacing to Oracle Receivables.Part 1 . These events will be used by Create Accounting process subsequently to generate accounting. If accounting is generated in FINAL mode with Transfer to General Ledger being set as ‘No’ then run PRC: Transfer Journal Entries to GL with parameters to either post in GL or just to leave it unposted.. This program is used to generate accounting and Transfer to General Ledger based on appropriate parameters. 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. Attention: Concurrent Revenue processes can be run only if the ranges of projects specified for the processes do not overlap 11.. If it is transferred unposted General Ledger posting program needs to be submitted. RUN CREATE ACCOUNTING TO PROCESS REVENUE ACCOUNTING EVENTS This program is owned by SLA. or completed more succinctly. 1.

All the streamline options are not available in R12. RUN PERIOD CLOSE EXCEPTION AND TIEBACK REPORTS Run the period close exception reports to identify transactions that have not been fully processed. 15. Some of them have become obsolete.. 15. Cost. Review the report generated by Create Accounting/Transfer to GL processes for any errors. Budgets by Resources MGT: Revenue. Suggestion: Some of the above reports and processes may be run using the Submit Streamline Processes process. Budgets by Work Breakdown Structure MGT: Employee Activity Report MGT: Invoice Review MGT: Unbilled Receivables Aging MGT: Agreement Status by Customer 12 of 50 16-02-2011 23:22 . RUN FINAL PROJECT COSTING AND REVENUE MANAGEMENT REPORTS Run all of the following project costing management reports: MGT: Revenue. 1. or completed more succinctly. 1. Cost Budgets by Resources (Project Level) MGT: Task . After the corrections are made. This process ensures processes and reports are run and completed in the correct order. 17.. 13. TRANSFER INVOICES TO ORACLE RECEIVABLES Run PRC: Interface Invoices to Receivables Run PRC: Interface Inter-company Invoices to Receivables Warning: Make sure that Oracle Receivables has not closed its period until all Oracle projects invoices have been interfaced to Oracle Receivables 1. Review these reports and make all the indicated corrections. and that would prevent you from closing the PA period. 14.Steps for Closing Period in R12 Financials . 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. 1.USE FIREFOX http://apps2fusion.Revenue.com/apps-training/r12-functional-documents/468-how-. 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. Please refer to the user guide. 18. If you use the Streamline process.Part 1 . the order of some of the above steps may be changed. Cost. run the reports again until there are no exceptions.

Run AUD: Project Subledger Summary Run AUD: Project Subledger: Detail by Project Run AUD: Project Subledger: Detail by Expenditure Type 24. Chapter 3 Oracle Order Management 13 of 50 16-02-2011 23:22 . These reports enable you to drill down from a GL account balance in the trial balance to the individual project–related transactions. UPDATE PROJECT SUMMARY AMOUNTS To enable users to view the latest data in the Project Status Inquiry Window. 17. Only one period can be designated as the current reporting period for Project Status Inquiry. the change of status is not allowed. you must run a final project summary update for the current reporting (pending close) PA period. 16. CHANGE THE CURRENT ORACLE PROJECTS PERIOD STATUS FROM PENDING CLOSE TO CLOSED When changing the status to Closed. This process needs to be performed for each Operating Unit defined.. 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. 23. current reporting period. change the status of the PA period to Permanently Closed Warning: Once a period is permanently closed it can never be re-opened 1. 20. 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. If unprocessed items exist. the system checks to see if any unprocessed items exist in the period. 19. 22. 18.USE FIREFOX http://apps2fusion..Part 1 . 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.Steps for Closing Period in R12 Financials . 20.com/apps-training/r12-functional-documents/468-how-. Re-run the Period close exception reports to identify the items. RESTORE ACCESS TO USER MAINTENANCE ACTIVITIES After the project summary amounts have been updated for the closed. The current reporting period does not have to be an open period. advance the PA Reporting Period. 21. restore access to user maintenance activities. 21. 19. RECONCILE COST DISTRIBUTION LINES WITH GENERAL LEDGER (OPTIONAL) The followng Project Subledger Audit Reports print cost distribution lines related to projects.

This chapter describes the procedures for performing period-end processing in Oracle Order Management Release 12 1. It closes the order header if it finds that all the lines are closed. Procedures The following steps are taken in performing period-end processing for Oracle Order Management.com/apps-training/r12-functional-documents/468-how-. no lines can be added or changed.USE FIREFOX http://apps2fusion. Once an order line is closed. respectively. when included in the order header or line workflow. Closed orders are excluded from many of the standard reports available in Order Management. 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. Order lines can close independent of each other. Business Requirements Open Sales Orders should be reviewed and where possible appropriate actions should be undertaken to finalise the Order Workflows and close these Sales Orders.. the creation of install base entries for shipments Sales Order Acknowledgments Cancel Backordered Included Items Respond to Workflow Approval Notifications Confirm that invoice interface has been completed Optionally. Order Management provides seeded close line and close order workflow sub-processes to close the order header and line.. 1. Orders marked as closed are not selected. closes the status of the eligible order or lines. since many programs. The order header close order process checks at the end of every month to see all the lines associated with are closed. Close lines and close orders are implemented using workflow. Implicit Acceptance Confirm Shipments and optionally. 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 Authorisations Run the Generate Pre-billing Acceptance Program for Pre-billing. confirm that service contracts for warranties and extended waranties have been created Close Orders Closing orders that are complete enhances performance. windows and report queries retrieve open orders only. 2. so reporting can be limited only to the active orders. increasing system speed and efficiency.Part 1 . Close Order Lines An order line is eligible to close when it completes all of the line-level activities within the workflow process. These processes. Once an order is closed. no changes can be made to any fields except the descriptive 14 of 50 16-02-2011 23:22 .Steps for Closing Period in R12 Financials . 1.

flexfield. This process will ensure all shipped Sales Order information is transferred to Oracle Receivables when it reaches the appropriate point in the Order Workflow.USE FIREFOX http://apps2fusion. requisition numbers. 15 of 50 16-02-2011 23:22 . scheduled dates. and internal requisition and internal sales order hold discrepancies. Then the Order Import process is run from within Order Management to generate the internal sales orders. Use the Order Import Correction window to examine the orders and optionally correct data if it fails the import process. Alternatively. Run the Internal Order and Purchasing Requisition Discrepancy Report. for which you can define processing constraints.Steps for Closing Period in R12 Financials . order date ranges. items. perform the above tasks for each of the operating units. Order Import from Oracle Purchasing. they will not be closed by workflow activity Attention: If MOAC is enabled for the Order Management responsibility. Use the Create Internal Sales Orders process to send requisition information from approved. Run Order Import to create Internal Sales Orders from Internal Requisitions. If you are using Oracle Purchasing to process Internal Purchase Requisitions. order numbers. 2.If orders or lines have activity specific holds present. Holds Effect on Eligible Lines The close order and close line workflow activities will close order or lines if only generic holds are present . 2. 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. Internal orders do not go through the Invoice interface/ Autoinvoice process.Part 1 . Attention: This Process is only applicable for Order Workflow Definitions that include the Invoice Interface or Invoice Line processes. order types. if you are using the Order management public API to create orders. Invoice Interface / AutoInvoice. for Internal Orders. the following processes need to be completed: Enter and approve all Internal Purchase Requisitions in Oracle Purchasing. use the Order Import to update Oracle Order Management from your external systems.. Use the Error Message window to determine if your data failed to import. The AutoInvoice Process updates Oracle Receivables for invoice and revenue information. 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. inventory-sourced requisition lines to the Order Management interface tables. ship to information. Use the Error Message window to determine if your data failed to import. for external orders. This report includes all open and closed orders.com/apps-training/r12-functional-documents/468-how-.. ensure that the processes calling the public API is completed. Run the Create Internal Sales Orders Process in Oracle Purchasing for all requisitions within the current period. If you are using external order processing systems for data entry of orders. Use the Order Import Correction window to examine the orders and optionally correct data if it fails the import process. The Internal Order and Purchasing Requisition Discrepancy Report displays the differences between the purchasing requisition entered and the actual items ordered during order entry.

including the factor for shipments and receivables for a certain number of days. currency code. Attention: Order Management does not process Internal Sales Order lines for the Invoice Interface.. 3. or identify why a particular order is on hold. Order Discount Summary Report 16 of 50 16-02-2011 23:22 . REVIEW DISCOUNTS It is recommended that you review discounts processed as part of the order process to ensure appropriate discount policies have been followed. and exceptions are clearly identified and reviewed and/or followed up. order date. This report displays the order number. In Post-Billing Acceptance. even if the Invoice Interface is an action in the order Workflow Definitions for the Internal Sales Order transaction type. It is automatically sorted by customer. invoicing is carried out.. The Workflow Status option on the Sales Orders window Tools menu launches the workflow status page. Use the following reports: Order Discount Detail Report The Order Discount Detail Report reviews discounts applied to orders by order line detail.com/apps-training/r12-functional-documents/468-how-.Part 1 . order number. 3. This report is automatically sorted by customer. REVIEW HELD ORDERS Run the following reports to assist with reviewing Sales Orders on hold. Outstanding Holds Report The Outstanding Holds Report reviews order holds for the customer or customers you choose. REVIEW OPEN ORDERS AND CHECK THE WORKFLOW STATUS Use the Sales Orders Workbench window to review open orders using the Advanced Tabbed Region to specify controls such as whether to find closed orders/lines and cancelled orders/lines. and then order line detail. 6. order line. The order line status is displayed in the Main tab of the Line Items tabbed region. ordered items. The window shows in tabular format all the activities an order header or line has completed and the corresponding results. REVIEW CUSTOMER ACCEPTANCES (OPTIONAL) In Pre-Billing Customer Acceptance. selling price. Hold Source Activity Report The Hold Source Activity Report reviews holds placed and removed under a hold source during the time period you specify. the revenue recognition process is deferred and linked to customers accepting the shipped goods. The Sales Orders window displays the order header status in the Main tab of the Order Information tabbed region. once the goods are accepted.USE FIREFOX http://apps2fusion.Steps for Closing Period in R12 Financials . All balances are calculated as they are using the online credit check rule. credit check rule. This report indicates the date and the type of activity for each hold transaction. Order Management allows you to perform a credit check on customer orders and automatically places orders on hold that violate your credit checking rules. 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. 5. 4. including price list price. 5. From the status page. This report provides detailed line pricing information. and discount information. 6. and order number. you can access the Workflow monitor to see the order or line status in a more graphical format. 4. This is available through the View Diagram button. and order amount for each order line on hold for each customer you select.

The Order Discount Summary Report reviews discounts applied to orders. 8. It displays order information such as order number. These amounts involve totals for shippable items only. and then item. If required process cancellations for items/lines which are no longer required. 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. CREATE SERVICE CONTRACTS (OPTIONAL) Run the Service Contracts Order Processing Concurrent request to create service contracts for extended warranties. This report includes only open orders in an order cycle that includes Pick Release. This report provides details for each order including customer name. order number. Order Management automatically sorts this report by currency. When Exception Management encounters this situation. order type. 9. before completing the Order Management/Receivables period end: Unbooked Orders Report Use this report to review orders entered but not booked.Part 1 . customer name and number. 11. shipped and outstanding. 11. last shipped date. and monetary amounts of both ordered and backordered quantities.. 10. REVIEW BACKORDERS Review backlogs and backorders to ensure that these items are current. Retry Activities in Error There are cases when retrying a workflow activity in error will not resolve the problem. They may indicate incomplete processing. 10. total quantity both ordered and backordered. order date. including agreement. and the monetary amounts ordered. salesperson and total order discount. This report also includes total amounts for customers and currencies. the workflow activity is set to Notified instead of being retried. RECONCILE TO ORACLE RECEIVABLES (OPTIONAL) Run the following reports to assist in reconciliation of orders invoiced in the period: 17 of 50 16-02-2011 23:22 .com/apps-training/r12-functional-documents/468-how-.Steps for Closing Period in R12 Financials . Backorder Detail Report The Backorder Detail Report reviews all customer orders that have been backordered. all backordered items and their appropriate line numbers.) Returns by Reason Report The Returns by Reason Report reviews all return material authorizations for various return reasons.. RECONCILE TO ORACLE INVENTORY Run the following reports for reconciliation with Oracle Inventory Backorder Detail Report Review Backorders (Already discussed under section 7. return reason.USE FIREFOX http://apps2fusion. or deleted as appropriate. 7. 7. Backorder Summary Report The Backorder Summary Report lists all unshipped orders. This report provides order level pricing information. order type of each order. 9. 8 REVIEW AND CORRECT ORDER EXCEPTIONS The following reports should be reviewed. purchase order. which needs to be corrected/completed. and exceptions corrected.

and who cancelled the order. Implicit Acceptance. During the Bank Reconciliation process miscellaneous transactions can be created for bank-originated entries. such as bank charges and interest. order types. Procedures 18 of 50 16-02-2011 23:22 . bank. allowing the projection of cash needs and evaluation of the company's liquidity position. or review cancellations by customers. customer name. customer or customer number. The Bank Reconciliation process enables the verification of entries on the Bank Statement by reconciling that information with system transactions in Oracle Payables. It provides comprehensive bank reconciliation. including order number. review cancellations by salesperson.. Salespeople can use this report to see their current outstanding orders and their status. If there are no invoices for a particular order that meets the parameter criteria. Order/Invoice Detail Report The Order/Invoice Detail Report reviews detailed invoice information for orders that have invoiced. Chapter 4 Oracle Cash Management This chapter describes the procedures for performing period-end processing in Oracle Cash Management Release 12. the date and reason the order or order line was cancelled. Business Requirements Oracle Cash Management is an enterprise cash management solution that helps you effectively manage and control the cash cycle. This report provides a summary of each cancelled order. 12. Order Management prints in the report that no invoices exist for that order. order date ranges. the quantity ordered and the quantity cancelled. bank branches & internal bank accounts setup. cash pooling and flexible cash forecasting. 12. Oracle Receivables and Oracle General Ledger. 1. line type. The report displays all open and closed orders for a salesperson. This report can be used to report total amounts cancelled in a specified time-frame. RUN STANDARD PERIOD END REPORTS The following reports should be run each period: Cancelled Orders Report The Cancelled Orders Report reviews all orders that have been cancelled. Customer Acceptance Report Generate Pre-billing Acceptance Program for Pre-billing. and allows evaluation of the most common cancellation reasons.Part 1 . and detailed sales credit information for lines in a selected range. This report displays the order and each order line associated with each salesperson. intra-bank account transfers. line number and item. Cash forecasting is a planning tool that helps anticipate the flow of cash in and out of the enterprise. quantity ordered. shipped. Commercial Invoice (for all ship dates within the current AR period) The Commercial Invoice Report lists all confirmed shipped items in a delivery.USE FIREFOX http://apps2fusion. order numbers.Steps for Closing Period in R12 Financials . cancelled. 2. If only a delivery name is specified when defining the parameters of this report.com/apps-training/r12-functional-documents/468-how-. and invoiced and their potential commission. agreements. 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. Shipping Execution prints one commercial invoice per delivery within the trip. 2.. This report shows open orders.

1. run the Sweep Transaction Generation concurrent program. CREATE MISCELLANEOUS TRANSACTIONS During the reconciliation process miscellaneous transactions for bank-originated entries. validate them. based on the cash pool setup in the system. and create cashflows. For organizations with high transaction volumes Bank Statements should be loaded and reconciled on a daily basis.com/apps-training/r12-functional-documents/468-how-.Steps for Closing Period in R12 Financials . create sweep transactions between your internal bank accounts.USE FIREFOX http://apps2fusion. 3. (Refer Reconciling Bank Statements Automatically) Manual . Bank statements can be either manually entered or loaded electronically from information received directly from your bank. such as bank charges and errors can be created.Bank statement details are automatically matched and reconciled with subledger transactions. and send payment instructions to the bank. including bank account information.. which can be accounted for and subsequently reconciled. COMPLETE DAILY CASH MANAGEMENT ACTIVITIES Complete bank account transfers for the day. The manual reconciliation method can also be used to reconcile any bank statement details. you can use the Bank Statement Cashflow Creation program to create system transactions (cash flows) to match banking inform. and checks cleared needs to be entered to Cash Management. which have a small volume of monthly transactions.. 2. CREATE BANK STATEMENT CASHFLOWS If you have recurring items such as bank fees and interest appear on your bank statement. as defined in the Bank Statement Cashflow Mapping.This method requires a manual match of bank statement details with subledger transactions. RECONCILE BANK STATEMENTS Once detailed bank statement information has been entered into Cash Management. The method is ideally suited to reconciling bank accounts. 5. 19 of 50 16-02-2011 23:22 . run the Bank Statement Creation concurrent program.Part 1 . GENERATE SWEEP TRANSACTIONS If you have target balance or zero balance accounts (ZBA) with your banks. 1. Once the bank statements are imported. This method is ideally suited for bank accounts. which couldn't be reconciled automatically. 2. The program will scan the bank statement for sweep lines and. 6. Oracle Payables payments or Oracle Receivables receipts can also be manually created. the information must be reconciled with the subledger transactions. (Refer Reconciling Bank Statements Manually) 6. The following steps are taken in performing period-end processing for Oracle Cash Management. if necessary. which can be accounted for and subsequently reconciled. Once the bank statements are imported. Refer to: Entering Bank Statements Manually and Loading Bank Statement Open Interface 3. you can automatically generate system transactions to match banking information once the bank posts the sweeps. 5. The program will scan the bank statement for specific codes. which have high volumes of transactions. 4. deposits received by the bank. Cash Management provides two methods to undertake reconciliations: Automatic . 4. LOAD BANK STATEMENTS Detailed information from each bank statement.

You may also request it as needed from the Submit Request window. 10. Detailed information includes the Customer. and Amount.Part 1 . Attention: If you create transactions during the reconciliation process you will need to re-run ‘Create Accounting’ routine from Oracle Receivables to ensure all information is transferred to the General Ledger 7. 9. including bank statement header information. RUN BANK STATEMENT DETAIL REPORT This report shows statement and transaction information for a specific bank account statement.COMPLETE BANK TRANSFERS Complete the bank account transfer whether it is manual or automatic and record the validation if required before completing the transfer. and the statement totals for each type of transaction. 8. 12. It does not list reversed receipts due to user error nor does it list the associated original receipts that were not reconciled. 6A. 11. 11. This report includes either statement import errors. and gives you the option to only select un-reconciled statement lines.USE FIREFOX http://apps2fusion. Available Payment. RESOLVE EXCEPTIONS ON THE AUTO-RECONCILIATION EXECUTION REPORT Resolve the exceptions on the Auto-Reconciliation Execution report by either re-running the import process or by manually reconciling the exceptions. 9. Supplier or Batch Name. Transaction Date. 10.Steps for Closing Period in R12 Financials . RESOLVE UN-RECONCILED STATEMENT LINES Resolve the un-reconciled statement lines by manually reconciling the Statement lines to the available transactions. POST TO GENERAL LEDGER 20 of 50 16-02-2011 23:22 . and reconciled transaction detail..com/apps-training/r12-functional-documents/468-how-. 13. This report only lists void payments if the Show Void Payments option on the Systems Parameters window is checked. This report groups transactions by status so that void or reversed transactions are separate from regular transactions. This report shows import and reconciliation errors that occurred when running the Auto-Reconciliation program. This report lists any un-reconciled transactions separately with their current status. reconciled. Transaction Number.. or your reconciliation exceptions found during the automatic reconciliation process. un-reconciled. Cash Management automatically produces this report during the automatic reconciliation process. including the amount entered. reviewing the reconciliation results is recommended. 12. REVIEW AUTO-RECONCILIATION EXECUTION REPORT Once the reconciliation process has been completed. Currency. Payment Method. RUN TRANSACTIONS AVAILABLE FOR RECONCILIATION REPORT This report shows all transactions available for reconciliation for a specific bank account. statement line detail. 7. This report lists the details of any miscellaneous transactions that were created in Receivables during the automatic reconciliation process. Note: The automatic reconciliation process can be set up to create miscellaneous transactions automatically. 8. which prevented the automatic loading of your bank statement. and Available Journal Entries for reconciliation. over-reconciled and under-reconciled. It lists detailed transaction information for your Available Receipts.

· Post journals in General Ledger. 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. CORRECT ANY INVALID ENTRIES TO THE GENERAL LEDGER CASH ACCOUNT (OPTIONAL) Reverse or amend any journals incorrectly posted to the General Ledger Cash Account. 15.. Final journal entries cannot be further modified in Cash Management. Create journal entries for eligible accounting events generated by Bank Account Transfers and Bank Statement Cash Flows by submitting "Create Accounting" concurrent program. Please make sure you are satisfied with the draft journal entries before creating final accounting. 14. It also lists a separate adjustment amount for un-reconciled receipts.Steps for Closing Period in R12 Financials . To prevent invalid journal entries to the General Ledger Cash Account enable security rules appropriately. RUN THE GL RECONCILIATION REPORT Use this report to reconcile the General Ledger cash account to a bank statement balance. 14. If you do not transfer the journals to General Ledger immediately. 13.com/apps-training/r12-functional-documents/468-how-. Warning: To ensure that this report is accurate. 3. This report lists a balance and an adjusted balance for the bank statement. 21 of 50 16-02-2011 23:22 . 1. you must first perform these tasks: Reconcile all statements in Cash Management. 1. Transactions entered directly via General Ledger will have a Source of Manual or possibly Spreadsheet if ADI is used. 18. in which case draft journal entries will be created. and journal entries. payments. Ensure that only bank account related transactions have been posted to this account by checking the Source of the transactions. 17. Transfer journal entry transactions from Oracle Payables and Oracle Receivables to your General Ledger. 1. 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. transfers and posts journal entries to General Ledger. Valid sources will include Payables and Receivables.USE FIREFOX http://apps2fusion. In addition to creating final accounting entries. 1.Part 1 . Transactions entered directly via General Ledger will have a Source of Manual or possibly Spreadsheet if ADI is used. The program creates and.. which were highlighted during the review of the Account Analysis Report. 16. 16. Such journals cannot be transferred or posted to General Ledger. if transfer from sub-ledgers was not in FINAL POST mode. you can later submit the "Transfer Journal Entries to GL" concurrent program. as well as bank errors. Valid sources will include Payables and Receivables. Important. the program can be run in a draft mode. optionally.

that period is opened for all operating units within the ledger. and reviewed all audit trails for completeness. COMPLETE ALL TRANSACTIONS FOR THE PERIOD BEING CLOSED Ensure that all transactions have been entered for the period being closed. 1. The posting level for Oracle Payables must be determined. the system checks for unposted transactions in all operating units within the ledger. RUN THE PAYABLES APPROVAL PROCESS FOR ALL INVOICES The Payables Approval process is run to try to approve all unapproved invoices and invoice lines in the system. 5.Steps for Closing Period in R12 Financials . Completing all transactions for Oracle Payables: 1. If Multi-org Access Control is being implemented. 3.. 1. Procedures 1. 2. If there are unposted transactions in any of the operating units. the system asks you to resolve the un-posted transactions for those operating units before it allows you to close the period for the ledger. In Release 12 the detailed level of posting can be controlled by GL summarize options and also at SLA journal line type level. ensure you have imported all transactions. Business Requirements Accounts payable activity must be reconciled for the accounting period that is to be closed. when planning period-end procedures. and posting and report processing speed degradation caused by the sheer volume of posted transactions. 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. 2. period closing can be performed across OU’s from a single responsibility. relating to the physical data storage volume. 22 of 50 16-02-2011 23:22 .Part 1 . so that they can be paid by Oracle Payments and posted to the General Ledger. Complete Invoicing and Credits Complete Prepayments Complete Expense Reports Complete Invoice Import Complete Payments If you import transactions from an external system. through one OU at a time. or you are using Internet Expenses or Xpense Xpress.. 4. Chapter 5 Oracle Payables This chapter describes the procedures for performing period-end processing in Oracle Payables Release 12. so that the General Ledger can remain “thin” and Subledger Accounting online inquiry and BI Publisher reports can be utilized to report and analyze balances and their transactions.USE FIREFOX http://apps2fusion. When you update the period statuses to ‘Open’ in one operating unit. Where detail level accounting transactions are required to be posted to the general ledger using sub-ledger accounting (hereafter referred to as SLA). The following steps are taken in performing period-end processing for Oracle Payables. 2. All of the operating units that share a Ledger also share the same period statuses. 2. When you attempt to update the period status to ‘Closed’ in one operating unit. Subledger Accounting can contain all of the detailed subledger accounting level analysis.com/apps-training/r12-functional-documents/468-how-. there may be technical constraints involved.

The report lists each payment in a payment process request. review the details and make necessary changes. Using the report parameters. which will prevent posting to the General Ledger. transaction currency. Accounts Payable sorts the report by transaction type (invoice or payment). b. exception. Confirm all Payment Instructions Run the Payment Instruction Register for the period that is to be closed. This can also be submitted from the SRS screen. You can then correct the problems and resubmit the accounting process. document number. as accounted by SLA. event type.USE FIREFOX http://apps2fusion. Review the Journal Entries Report This report enables review and analysis of accounting entries in the Payables subledger.Part 1 . The report will then show only transactions that had problems that prevented accounting. e. ledger currency. in ascending order. and voucher number. 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. Note that this report does not include invoices that have no distributions.com/apps-training/r12-functional-documents/468-how-. d. including setup and overflow payment documents. source. Run this report after you have run the Create Accounting Process. c. 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.Steps for Closing Period in R12 Financials . which have been posted in General Ledger and those. Check the status of the Payment Process Request/Payments/Payment instructions to ensure that all payments have been processed. Optionally Run the Payments Register The Payment Register details payments printed in a particular accounting period. you can produce a detailed or summary listing of the accounting information you want to review. which are yet to be posted but have been accounted SLA groups the report by ledger. The Payment Instruction Register lists each payment created for a payment process profile or for a manual payment. f.. by payment number. The report details all invoices for which Oracle Payables cannot select for posting and therefore cannot create journal entries. Use Oracle Payments to confirm any payment instructions. This report is automatically submitted when payment instructions are being created. The report can be used to review payment activity for each bank account used during the specified time period. REVIEW AND RESOLVE AMOUNTS TO POST TO THE GENERAL LEDGER a. When a transaction is accounted with errors. and re-run the Payables Approval process to approve these invoices. and transaction number. Actual payments can be compared against this register to verify that Oracle Payables/Oracle Payments has recorded payments correctly. supplier name. or finalize any outstanding payments. This report is owned by SLA. Where possible resolve any identified holds. The report also lists in detail transactions that have been accounted with error and all entries that could not be transferred to the general ledger. and event class. Optionally Run a Month End Payment Process Request By running a month end payment process request.. you may arrange a payment for as many due invoices as possible. By altering the parameters the report also lists those transactions. 23 of 50 16-02-2011 23:22 . 3. 3. Attention: Oracle Payables prevents the closing of a period in which all payments have not been confirmed. supplier. category. Data is then sorted by accounting date.

from Oracle Payables. The transactions that have been accounted in the Final Mode can 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.e. 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’. debit the liability account and credit the cash account of the bank account used to pay and invoice. 24 of 50 16-02-2011 23:22 . REVIEW THE PAYABLES TO GENERAL LEDGER POSTING PROCESS AFTER COMPLETION. The following reports can optionally be run to review the invoices and payments that were posted to Oracle General Ledger. Warning: The report total only shows the net ( less discounts) payment amount. The transactions in Draft accounting mode can be included on accounting reports but cannot be transferred to General Ledger. 4. Transfer to General Ledger was ‘Yes’ and Post in GL was set to ‘No’. Invoice journal entries. Therefore it is necessary to subtract the ‘Discounts Taken’ from the Posted Payment Register report total and then compare this calculated amount to the total displayed on the Payments Register Report. a listing of accounting entries created by the accounting process. The audit report provides. 5. The report has two sections: Accounting Entries Audit Report. these two reports would not balance.USE FIREFOX http://apps2fusion. creating journal entries for these invoice and payment transactions. 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. Accounting Entries Exception Report. for the period that is to be closed. The Create Accounting process transfers data to the General Ledger tables.. When accounting mode is Final and transfer to GL set to ‘No’ then ‘Payables Transfer To General Ledger ’ needs to be run from the Standard report submission (SRS) window. whereas the Posted Payment Register total is the total payment amount. If only verifying report totals. The transactions that have been accounted in Final Post have already been transferred to. TRANSFER ALL APPROVED INVOICES AND PAYMENTS TO THE GENERAL LEDGER Release 12 provides 3 modes of accounting: Final. Final Post and Draft.. A draft entry does not update balances and does not reserve funds. Payables Accounting Process Report Use this report to review accounting entries created by the Create Accounting Process. Payment journal entries. a. 4. 6. debit the expense or other account entered on an invoice distribution line. in General Ledger.Part 1 . including discounts.com/apps-training/r12-functional-documents/468-how-. and credit the liability account nominated on the invoice. and posted. the current accounting period. RECONCILE PAYMENTS TO BANK STATEMENT ACTIVITY FOR THE PERIOD Refer to Chapter 9 Period-End Procedures for Oracle Cash Management 5. 6. in detail or summary. unless you have modified the SLA rules to create alternative accounting entries to address your specific business needs.Steps for Closing Period in R12 Financials . The exception report lists in detail all accounting entries that were created with an error status and a description of that error. The journal entries are posted in Oracle General Ledger to update account balances. SLA creates detail or summary journal entries for all eligible events when you post. The Accounting Entries Exception Report is generated only when the accounting process encounters accounting entries that fail validation. i.

ACCRUE UNINVOICED RECEIPTS (Refer to Chapter 2 Period-End Procedures for Oracle Purchasing) 10.Part 1 . It is automatically submitted by General Ledger when closing a GL period if there are unprocessed accounting events or un-transferred journal entries. You can then close the current accounting period in Oracle Payables. From the window you can submit the Unaccounted Transactions Sweep Program or you can submit a report to review accounting transactions that would be swept by the program.USE FIREFOX http://apps2fusion. correct any accounting errors and resubmit the Create Accounting Process. To create successful accounting entries for accounted transactions with error. you have invoices for which you cannot resolve holds before the close. For example. and can be used to review the payment activity for each bank account used during that period. The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. Because you cannot close a Payables period that has unaccounted transactions in it. 10.. SUBMIT THE UNACCOUNTED TRANSACTIONS SWEEP PROGRAM The Unaccounted Transactions Sweep Program transfers unaccounted transactions from one accounting period to another. Run the Accounts Payable Trial Balance Report 25 of 50 16-02-2011 23:22 . 7. if your accounting practices permit it. This process automatically submits the ‘Subledger Period Close Exceptions Report’. b. then Payables opens a window. Submit the program to change invoice distribution GL dates to the first day of the next open period so you can close the current period. The ‘Unaccounted Transactions Sweep Program’ will not roll forward accounted transactions. The program transfers unaccounted transactions to the period you specify by updating the GL dates to the first day of the new period. CLOSE THE CURRENT ORACLE PAYABLES PERIOD Close the accounting period by using the Control Payables Periods window to set the Period Status to Closed. If you submit the report in preliminary sweep mode the Unaccounted Transactions Sweep Review report shows which transactions will be re-dated if you submit the Unaccounted Transactions Sweep Program. and your accounting practices allow you to change invoice distribution GL dates. In the Control Payables Periods window if you try to close a period and unaccounted transactions exist. or accounted transactions with error.. 9.Steps for Closing Period in R12 Financials . you might want to use this program to change the accounting date of the transactions to the next open period. RECONCILE ORACLE PAYABLES ACTIVITY FOR THE PERIOD a. Oracle Payables automatically produces the Unaccounted Transactions Sweep Report to identify transactions that were re-dated and identify any transactions that need updating. The report lists each Accounts Payable Liability Accounting Flexfield and the invoices posted to the account. 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. 7. 8. The Posted Payments Register This report is used to review the payments posted to Oracle General Ledger during a particular accounting period. c. 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 verify that the total invoice amount equals the total invoice distribution amount.com/apps-training/r12-functional-documents/468-how-. When you submit the Unaccounted Transactions Sweep Program. 8.

be sure to post the transactions in the general ledger. 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. journal entries should be posted for the invoice and payment activity for the period.Invoice journals must be posted in general ledger to appear on this report. The Accounts Payable Trial Balance Report is a BI Publisher report. Before running your reports. This report is used to facilitate reconciliation of the total accounts payable liabilities in Oracle Payables.. third party. If the balance reported by the accounts payables trial balance does not equal the balance in the AP liability account. Run Third Party Balances Report This report is used to display balance and account activity information for Suppliers and Customers. posted invoices). Payables Posted Payment Register . These invoices represent the outstanding accounts payable liability for the organization.com/apps-training/r12-functional-documents/468-how-.e. run the Transfer Journal Entries to GL Program for all transactions in the period that you are reconciling. To obtain the most up-to-date trial balance for a given period.This balancing process will help you ensure that all liabilities recorded in Payables are reflected in the general ledger AP liability accounts. with the Oracle General Ledger Creditors Control Account. all unpaid and partially paid invoices for which Oracle Payables created journal entries (i. for reconciliation of Oracle Payables liabilities with Oracle General Ledger’s Creditor Control. This report lists. the following reconciliation method can be used: Use the following reports to reconcile your transferred invoices and payments to your Accounts Payable Trial Balance to ensure that your Trial Balance accurately reflects your accounts payable liability: Accounts Payable Trial Balance (for last day of prior period) Payables Posted Invoice Register . and third party site · Third party and third party site information · User transaction identifiers for the associated event 26 of 50 16-02-2011 23:22 . prior to running the report. Accounts Payables Trial Balance (for last day of current period) . you can use the Account Analysis report and the General Ledger reports to determine what journals are being posted to that account. which is based on a Subledger Accounting extract and enables you to identify the open Accounts Payable transactions that make up each Accounts Payable balance.. the Posted Invoices Register and Posted Payments Register reports must be run after each posting run. Also.USE FIREFOX http://apps2fusion. by vendor. for a specific accounting period. Attention: Typical AP/GL Reconciliation Example 31st March Accounts Payables Trial Balance Report + April Payables Posted Invoice Register –April Payables Posted Payment Register –.Part 1 . For reconciliation of Oracle Payables and Oracle General Ledger when posting is only performed at period end.Steps for Closing Period in R12 Financials . and sub-totals. b.Payment journals must be posted in general ledger to appear on this report.30th April Accounts Payables Trial Balance Report =0 Attention: When posting to the General Ledger is performed multiple times throughout each accounting period.

submit the Mass Additions Create program to transfer capital invoice line distributions from Oracle Payables to Oracle Assets. 13. RUN REPORTS FOR TAX REPORTING PURPOSES (OPTIONAL) A variety of standard reports can be used to provide tax information. Suggestion: If the volume of transactions in Accounts Payable requiring Assets update is large. Output from the tax extract is designed to look as close to a simple tax report as possible. you should consider running the Mass Additions Create process on a more regular basis. Oracle Reports. After you create mass additions. Withholding tax is handled by Payables whereas other tax requirements are handled by eBTax.Steps for Closing Period in R12 Financials . The mass addition line appears in Oracle Assets with the functional currency amount. 11. General Ledger journal entries imported from Subledger Accounting are not included in the report. Note: To avoid duplication with subledger journal entries. It only includes journal entries transferred to and posted to General Ledger. The tax extract copies the accounting information from each application and stores it in an interface table. and confirmed all invoice holds. This report is owned by SLA. including RXi. 2. 12. 12. The balances in this report can be compared with the General Ledger balances for the same control accounts to reconcile. included in the correct period and any additional invoicing will become part of the next periods invoice and asset processing period. For more information refer to ‘SLA Implementation Guide’. For foreign currency assets.Part 1 . It is recommended to do a final Mass Additions Create after the period close to ensure that all Payables invoices are 1. Payables sends the invoice distribution amount in the converted functional currency. RUN MASS ADDITIONS TRANSFER TO ORACLE ASSETS After you have completed all Payables transaction entry.USE FIREFOX http://apps2fusion. 11. which is required to be reported to the relevant Tax Authority. or XML Publisher to specify which fields of 27 of 50 16-02-2011 23:22 . 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. Note: A comparison between the accounts in payables with the accounts in GL might not match as SLA has the ability to override the accounting. 13. The E-Business Tax data extract draws tax information from each application and stores the data in an interface table.. including withholding tax.. You can use the available reporting tools.com/apps-training/r12-functional-documents/468-how-. and carry forwards. 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. Review this report and compare it with ‘Third Party Balances’ report. you can review them in the Prepare Mass Additions window in Oracle Assets.

This statistical information can be useful for cash flow analysis and forecasting purposes. · Average payments per invoice. 14.. The number of invoices divided by the number of distributions. · Average sites per supplier.. A payment document can pay multiple invoices. 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. · Average lines per invoice. as well as average values. exception items. The Key Indicators Current Activity Report Use the Key Indicators Report to review your accounts payable department's productivity. When you submit the Key Indicators Report. and review the current number of suppliers. c. The report provides the number of transactions for each indicator (such as number of automatic payments printed during a period) and amount values where applicable to the Key Indicator (such as total value of automatic payments written during a period).USE FIREFOX http://apps2fusion. · Scheduled payments.com/apps-training/r12-functional-documents/468-how-. For example. The number of sites divided by the number of suppliers. · Number of supplier sites. the Tax Reporting Ledger to include and to print the report in a format that meets your needs. and payments. The Key Indicators Report generates the following two reports: a. payments and matching holds in your Payables system. RUN THE KEY INDICATORS REPORT (OPTIONAL) This report enables review of the Accounts Payables department’s productivity. invoices. the Key Indicators State-of-the-System Report includes: Suppliers: · Number of suppliers. Invoices: · Number of invoices. The number of invoices divided by the number of scheduled payments. Oracle Payables produces this report only if you choose Yes for the Include Invoice Detail parameter. invoices. The following tax registers are available: · Deferred Output Tax Register · Recoverable and Non-Recoverable Tax Registers · Single Cross Product Tax Register · Standard Input and Output Tax Registers The following summary levels are available within each Tax Register: · Transaction Header · Transaction Line · Accounting Line 0. Payables further breaks down each category into basic items. 28 of 50 16-02-2011 23:22 . when combined with similar information from Oracle Accounts Receivables. Payables generates reports you can use to review Payables transaction activity. The Key Indicators Report provides current activity indicators that compare current period activity with prior period activity in three major areas: suppliers. Payments: · Number of payments (both manual and computer generated) created and recorded in Payables. and updates. Number of invoice payments made by Payables. · Number of invoice distributions. · Invoice payments. The Key Indicators State of the System Report The Key Indicators State-of-the-System Report provides a period-end view of Oracle Payables.Part 1 . Number of scheduled payments based on payment terms and manual adjustments in the Scheduled Payments tab. b.Steps for Closing Period in R12 Financials .

Posting to the General Ledger allows extraction of details from Oracle Receivables. receipts. Complete Invoicing. COMPLETE ALL TRANSACTIONS FOR THE PERIOD BEING CLOSED Ensure that all transactions have been entered for the period being closed. Oracle Receivables provides a comprehensive set of reports to facilitate reconciliation of outstanding customer balances. Procedures The following steps are taken in performing period-end processing for Oracle Receivables. it is possible to reconcile Oracle Receivables with the General Ledger by verifying that all the correct journal entries were made. 16. PURGE TRANSACTIONS (OPTIONAL) You can delete Oracle Payables or Oracle Purchasing records that you no longer need to access on-line to free up space in your database. However. Warning: After a record is purged. 1. Average matching holds per invoice on matching hold. and related records such as invoice payments and purchase receipts. and creation of journal entries in the General Ledger. Business Requirements Oracle Receivables requires periodic internal reconciliation of the transactions entered into the Accounts Receivables system. The number of payment documents divided by the number of invoice payments. · Average invoices per payment. The application provides the functionality to enable reconciliation of your sub-ledger before posting to the general ledger. Suggestion: You should create a special responsibility for purging information from Oracle Payables and Oracle Purchasing and assign this responsibility only to the person responsible for purging information from your database. 16. The number of matching holds in Payables. 1. 15. Matching holds: · Matching holds. suppliers. Chapter 6 Oracle Receivables This chapter describes the procedures for performing period-end processing in Oracle Receivables Release 12.Steps for Closing Period in R12 Financials .. 15.com/apps-training/r12-functional-documents/468-how-. Completing all transactions for Oracle Receivables: 1. the system maintains summary information of deleted records to prevent you from entering duplicate invoices or purchase orders. You can purge invoices. 15. it can no longer be queried. 1. and the record will no longer appear on standard reports. The number of matching holds divided by the number of invoices on matching hold.USE FIREFOX http://apps2fusion. Credits and Adjustments Complete Receipts and Reversals 29 of 50 16-02-2011 23:22 . After posting to the General Ledger. 1. and accounts balances. transactions.Part 1 .. 0. purchase orders.

e. When a transaction is accounted with errors. 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. which have been posted in General Ledger and those. If any discrepancies are evident. c. receivables. Company.USE FIREFOX http://apps2fusion. you can produce a detailed or summary listing of the accounting information you want to review. and Transaction Currency. credit memos. 1. The Transaction Register This report details all the transactions (i. invoices. review the details and make necessary changes. guarantees and chargeback) entered with a GL date between the period start and period end dates specified for the period being reconciled. and reviewed all audit trails for completeness 0. b. Using the report parameters.g. tax). The report also lists in details transactions that have been accounted with error and all entries that could not be transferred to the general ledger.com/apps-training/r12-functional-documents/468-how-. Review the Journal Entries Report This report enables review and analysis of accounting entries in the Receivables subledger.e. The summary totals for the sales journal are by Posting Status. freight. RECONCILE TRANSACTION ACTIVITY FOR THE PERIOD Reconcile the transaction activity in Oracle Receivables before posting to the General Ledger using SLA. using the Sales Journal by Customer report. 1. The total on the Sales Journal by GL Account should equal the total of items eligible for posting as listed on the Transaction Register. 1. 1. By altering the parameters the report also lists those transactions. research the customer balances to find out which balance does not tally. This reconciliation process checks that Oracle Receivables transactions are balanced. This report is owned by SLA. Complete Invoice and Customer Import Complete LockBox Processing Run the revenue recognition program (Optional) If you import transactions from an external system or Oracle Projects ensure you have imported all transactions and master files.. revenue. Attention: Ensure that the monthly transaction total is accurate and that no distribution issues exist. Run the following reports for the same accounting period date range: a. This report details.$20 Credits) Attention: The Transaction Register total for any credits must be adjusted. 1. ensuring that all items eligible for posting are reflected on the Sales Journal. By using the following formula. the general ledger distributions for posted and/or un-posted invoices for the specified period. 2. The Sales Journal By Customer Report and the Sales Journal By GL Account Report This report enables review of all transactions for the specified period.Steps for Closing Period in R12 Financials . by account type (i. as accounted by SLA.. which are yet to be posted but have been accounted 30 of 50 16-02-2011 23:22 . This report shows transactions entered and completed. 1. as they are negative on the Transaction Register and positive on the Sales Journal. debit memos. $100 + (2 * $20) = Debits $120 + Credits $20 ($120 Debits .Part 1 . deposits.

0. and voucher number.Invoice Exceptions . RECONCILE OUTSTANDING CUSTOMER BALANCES Reconcile the outstanding customer balances at the beginning of a specified period with the ending balance for the same period..com/apps-training/r12-functional-documents/468-how-.Part 1 . Review the AR to GL Reconciliation Report: The AR to GL Reconciliation report compares the account balances in Oracle Receivables to those in Oracle General Ledger. This report will show a difference between Receivables and GL account balances only if items did not successfully post to GL accounts. If the actual balance of a specific account is different in Receivables than in the general ledger. and highlights journal sources where discrepancies might exist.. All of the operating units that share a ledger also share the same period statuses. · GL Subledgers Not AR: Journal entries posted to the General Ledger from other subledgers. and event class. 3. then the following columns highlights the type of journals that affect the account balances: · GL Source Manual: Manual journal entries made in the General Ledger. and You have reviewed the Unposted Items report to confirm that all journal entries have posted. Run the AR to GL Reconciliation report: 1. 1. The Difference column indicates that the activity in Receivables compares to the journal source of Receivables in the G. The Potential Reconciling Items report addresses this issue by suggesting journal items that might potentially post to GL accounts with unexpected account types. that period is opened for all operating units within the ledger. · Unposted in GL: Unposted journals in the general ledger. known as the Roll Forward Formula: Period-End Balance = Outstanding Balance at Start of Period + Transactions + Adjustments . Note: To avoid duplication with subledger journal entries.L.USE FIREFOX http://apps2fusion. event type. Data is then sorted by accounting date. the journals could still post to incorrect GL accounts. thus creating reconciliation issues in Oracle General Ledger. 1. source. supplier name. using the following formula. During the internal reconciliation process. This report simplifies the reconciliation process by comparing Receivables and General Ledger account balances in a single place. 1. category. such as Oracle Payables or a legacy feeder system. General Ledger journal entries imported from Subledger Accounting are not included in the report d. SLA groups the report by ledger.Steps for Closing Period in R12 Financials .Applied Receipts . however. 1. which can be run and reviewed to reconcile these components: Component Report 31 of 50 16-02-2011 23:22 . ledger currency. and You have used the posting execution reports to confirm that the journal entries exported from Receivables match those posted in General Ledger. use the AR Reconciliation report to confirm that your transactional and accounting data match. When you update the period statuses to ‘Open’ in one operating unit. After the Create Accounting program in Receivables has completed. Attention: Where there are multiple operating units within the same ledger all operating units must be ready to close at the same time. Even if the data matches. 1.Unapplied Receipts The following list represents the various components that affect a customer’s balance and the reports. document number.

Using the receipt number.USE FIREFOX http://apps2fusion. batch source.Part 1 . 32 of 50 16-02-2011 23:22 . on-account amount.1: Unable to Reconcile Receipt Register to Receipt Journal – Enhancement 5567693 is still pending. payment number. If any of the Receipts listed can now be applied to outstanding transactions. The Journal Entry Report shows the receipt numbers that contribute to a particular GL account. and unapplied amount. RECONCILE RECEIPTS Ensure that Oracle Receivables receipts balance by running the following reports: Receipts Journal Report This report displays details of receipts that appear in the Journal Entry Report.. 1. You can use this report to determine how much your customer owes after taking into account all on-account and unapplied amounts. you can review the detailed information on the Receipts Journal Report.. payment method. batch name. 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. payment date. Bug 7589198: Receipt Register does not match Receipt journal – still in progress. which are. 5. 2.Steps for Closing Period in R12 Financials . then perform this action by re-querying the receipts and following the normal application procedure. Receivables displays information about your on-account or unapplied payment such as GL date. Bug 7423482: Receipt Register and Receipt Journal do not show on-account activity – deemed functionality. Beginning Balance Transactions Adjustments Exceptions Applied Receipts Unapplied Receipts Ending Balance Aging reports Transaction Register Adjustment Register Invoice Exceptions Report 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) Attention: You can use the Invoice Exceptions Report to adjust the Transaction Register for any transactions. This report includes both cash and miscellaneous receipts. Receipt Register Use this report to review a list of receipts for a specified date range.com/apps-training/r12-functional-documents/468-how-. Unfortunately currently (January 2009) this is not always the case. 4. See the following Metalink bugs and enhancement requests for more details: Note 393682. 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. not open to Receivables and therefore do not show up in the aging reports.

it is possible to perform external reconciliation during and after the posting process. 4. the Receipts Journal Report (in ‘transaction’ mode) and the Journal Entries Report for posted items. POST TO THE GENERAL LEDGER Prior to posting to the general ledger. then AR distribution accounting is displayed. 5. RECONCILE THE JOURNAL IMPORT PROCESS Create Accounting program submits journal import automatically. If create accounting is submitted in the ‘Final’ mode without transferring it to GL. Once transactions and receipts have been transferred to the GL tables. Use the same General Ledger date ranges for the Journal Entries report and the Create Accounting program. When running any Oracle Receivables reports that display accounting involving transactions that have been posted to GL. The account totals in the Sales and Receipt journals should match the corresponding account balances in the Journal Entries Report. then SLA accounting is displayed.Steps for Closing Period in R12 Financials . Journal Import produces an execution report detailing the total debits and credits for the journals created by the import process These totals must match the totals on Subledger Accounting Program report. The accounting is done at the ledger level and the program has the ability to transfer and import into General Ledger based on the parameters specified. After internally reconciling the transactions and receipts using these two reports. 8. 6. the entries will have to be transferred separately. transactions in error etc. If SLA accounting lines do not exist. 33 of 50 16-02-2011 23:22 .USE FIREFOX http://apps2fusion. Account balances for transactions and receipts can be reconciled by generating the Sales Journal by GL Account Report. Attention: The ‘Detail by Account’ version of the Journal Entries Report may be the most useful for reconciliation in this case. 9.. This program is owned by SLA and can be run both from the transactions screen and also from the SRS screen. the following statements apply: If SLA final accounting lines exist. 7. 3. Compare this report to the Journal Entries report (run in Posted status mode) and verify that they match. Create Accounting will generate a report which details the transferred transactions. Oracle Receivables regards these items as having been ‘posted’ within the sub-ledger. Both reports display invoice related receipts and miscellaneous receipts. 6. for transfer 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. RECONCILE RECEIPTS TO BANK STATEMENT ACTIVITY FOR THE PERIOD (Refer to Chapter 9 Period-End Procedures for Oracle Cash Management) Attention: The Create Accounting process must be re-run for any miscellaneous accounting entries generated from the bank reconciliation. the Receipts Journal Report and Sales Journal display the transactions that would be posted to the General Ledger (providing the posting process was run for the same GL date range). The posting process for Oracle Receivables involves a single step: Create Accounting: This request-owned by SLA can be submitted from the tr1ansactions screen or even from the SRS screen.Part 1 .com/apps-training/r12-functional-documents/468-how-.

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. third party. 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.(180 Char). You can also generate the Subledger Period Close Exceptions Report through a concurrent request as follows: 1. When the Create Accounting Program is submitted with the posting mode as ‘Final Post’. These totals should match the totals on the Journals . Note: Balance Forward Billing replaces consolidated billing invoices (CBI) feature of 11i. For the application associated with the responsibility For all applications in the General Ledger responsibility 13. 1. then the Journal Import produces an execution report that shows you the total debits and credits for the journals it created. For more information on the setup of balance forward billing refer to Oracle Receivables Implementation Guide Or Oracle Receivables User Guide 12. RECONCILE POSTED JOURNAL ENTRIES 34 of 50 16-02-2011 23:22 . PRINT INVOICES Once you are satisfied that customer balances are reconciled.. 13.com/apps-training/r12-functional-documents/468-how-.Steps for Closing Period in R12 Financials .report (Select posting status ‘Unposted’while executing the program) ‘Draft’ method is used to create accounting to determine the accounting impact of their entries Draft entries can be included on accounting reports but cannot be transferred to General Ledger. 10. 11. 14.. ensure all the invoices generated during the month have been printed and issued. then ensure that the consolidated (BFB) invoices have been generated for the current period. 7. THIRD PARTY BALANCES REPORT Run Third Party Balances Report from the SRS screen This report is used to display balance and account activity information for Suppliers and Customers.USE FIREFOX http://apps2fusion.Part 1 . REVIEW THE SUBLEDGER PERIOD CLOSE EXCEPTIONS REPORT: The Subledger Period Close Exceptions Report lists all accounting events and journal entries that fail period close validation. It is automatically submitted by General Ledger when closing a GL period if there are unprocessed accounting events or un-transferred journal entries. 8. A draft entry does not update balances and does not reserve funds. 0. These totals should match with the totals on the journals. If Balance Forward Billing functionality is used.(180 Char) report totals (Select posting status as ‘Posted’) When the Create Accounting Program is submitted with the posting mode as ‘Final’ then journal import process produces an execution report that shows you the total debits and credits for the journals it created. 9. CLOSE THE CURRENT ORACLE RECEIVABLES PERIOD Close the current period in Oracle Receivables using the Open/Close Accounting Periods window.

com/apps-training/r12-functional-documents/468-how-. or XML Publisher to specify which fields of the Tax Reporting Ledger to include and to print the report in a format that meets your needs. If there are any items not posted for the current or prior periods. Output from the tax extract is designed to look as close to a simple tax report as possible. which were transferred in FINAL mode and with Post in GL being set to NO. run the Journals –(180 Char) with a Posting Status of Posted from the Oracle General Ledger.. 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.Steps for Closing Period in R12 Financials . 16. 1. This report should not generate any output if all Receivables transactions have been successfully posted to General Ledger. then re-open both appropriate Receivables and General Ledger Periods and initiate another posting. 2. for the transactions. including RXi. This report is owned by SLA. You can use the available reporting tools.Part 1 . 17.. Run the request from the Submit Requests window. 4. Oracle Reports. The E-Business Tax data extract draws tax information from each application and stores the data in an interface table.USE FIREFOX http://apps2fusion. which is required to be reported to the relevant Tax Authority. 18. and verify that the grand totals from this report match the Journal Import Execution Report. 15. including withholding tax. Note: To avoid duplication with subledger journal entries. Review this report and compare it with Third Party balances report. After running the GL posting process in Oracle General Ledger. The following tax registers are available: § Deferred Output Tax Register § Recoverable and Non-Recoverable Tax Registers § Single Cross Product Tax Register § Standard Input and Output Tax Registers The following summary levels are available within each Tax Register: § Transaction Header § Transaction Line § Accounting Line 35 of 50 16-02-2011 23:22 . RUN REPORTS FOR TAX REPORTING PURPOSES-EBTAX (OPTIONAL) A variety of standard reports can be used to provide tax information. The output will consist of all items not posted in GL for the specified GL date range. 3. OPEN THE NEXT ORACLE RECEIVABLES PERIOD Open the next period in the Oracle Receivables using the Open/Close Accounting Periods window. submit with a GL date range for at least the current financial year. It only includes journal entries transferred to and posted to General Ledger. Using the Submit Requests window to generate this report. 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. The tax extract copies the accounting information from each application and stores it in an interface table. General Ledger journal entries imported from Subledger Accounting are not included in the report.

20. 19. and a Need–By date that is equal to or later than today’s date. Requestors can create receipt transactions by responding to the notification. Alternatively.g. 1. 1. Selection and Validation. Complete Requisitions Complete Purchase Orders and Releases Complete Receipts and Returns Submit the Confirm Receipts Workflow Select Orders process in Purchasing to send notifications through the Web. then stores this information in the archive tables. The final process is to transfer the archive data to a separate storage medium. and optionally Copying to a file. 1. 1. This program selects eligible transaction using criteria you specified. 0.Part 1 .USE FIREFOX http://apps2fusion. Archive. notify requestor requisition has 36 of 50 16-02-2011 23:22 .Steps for Closing Period in R12 Financials . or are FYI notifications only e. you can run selection and validation. The Confirm Receipts workflow sends notifications for items with a Destination or Deliver–To Type of Expense. archive. Complete all transactions for Oracle Purchasing: 1... 19. e–mail. The Selection and Validation and Archive processes form the Archive-Preview program. 1. 19. a Routing of Direct Delivery. validates the data to identify the transaction chains. Warning: You should not use the Receivables Archive and Purge program if you are using cash basis accounting. Chapter 7 Oracle Purchasing This chapter describes the procedures for performing period-end processing in Oracle Purchasing Release 12. 1. Business Requirements The purchasing activity must be reconciled for the accounting period that is to be closed. Purge. Print or Archive all new Purchase Orders Respond to all Workflow Notifications Notifications may either require action e. 1. or Notification Details Web page (accessible through the Notifications Summary menu in Purchasing) to requestors or buyers who create requisitions in Purchasing or iProcurement. notify approver approval required. 1.g. The Purge program uses the information in the archive tables to delete eligible transactions from the database tables. RUN ARCHIVE AND PURGE PROGRAMS (OPTIONAL) The Archive and Purge cycle is divided into four separate processes. 20.com/apps-training/r12-functional-documents/468-how-. Procedures The following steps are performed while closing the period in Oracle Purchasing. and purge processes together using the Archive and Purge program. 1. 1. COMPLETE ALL TRANSACTIONS FOR THE PERIOD BEING CLOSED Ensure that all transactions have been entered for the period being closed.

2. 1. or planned purchase orders. 6.CHECK WITH SUPPLIERS From the details obtained from the Purchase Order Detail Report regarding purchase orders not received. Receipt accruals can be reviewed by account and by item. been approved. but the receipt has not entered into Oracle Purchasing. 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. Attention: Where you have selected to accrue receipts at period end. This report indicates exactly what has to be accrued. Simply backdate the receipt date when entering receipts for a closed period. 0. 37 of 50 16-02-2011 23:22 ..Steps for Closing Period in R12 Financials . make sure that all receipts have been entered for a specific period before creating receipt accruals for that period. the appropriate department can then follow up with the suppliers as to the status of the ordered items. 4. 5.. it is not possible to process a receipt to a closed Purchasing period. If the goods have been received. 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 and the next five periods.USE FIREFOX http://apps2fusion. 1. Users should close all FYI notifications and respond to those that require a response. You can also use the report when negotiating with a supplier by limiting the commitments to a specific supplier. 1.Part 1 . FOLLOW UP OUTSTANDING INVOICES For any items identified to have been received but not invoiced. 1. The quantity ordered and quantity received is displayed so the status of the purchase orders can be monitored. 2. Closing FYI notifications is Optional. Entering of invoices. 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.com/apps-training/r12-functional-documents/468-how-. and for what amount. the appropriate department can then follow up the details from the Un-invoiced Receipts Report with the supplier. It is not necessary to enter all the receipts for a period prior to closing that period. Warning: Where you have Oracle Inventory installed. FOLLOW UP RECEIPTS . REVIEW THE OUTSTANDING AND OVERDUE PURCHASE ORDERS (OPTIONAL) Run the following reports: 1. You can use the report sorted by buyer to monitor buyer performance. 0. specific standard. and helps in the preparation of accrual entries. then the receipt transaction needs to be entered by the appropriate personnel. 3.

If encumbrance or budgetary control is being used..Part 1 . corresponding to the encumbrance reversal entries for the un-invoiced receipts that were accrued. Purchase Price Variance Invoice Price Variance Account A/P Accrual Account Inventory Account .com/apps-training/r12-functional-documents/468-how-. 1.(Refer to Chapter 3 Period-End Procedures for Oracle Inventory) Reconcile the balance of the Purchase Price Variance account using the Purchase Price Variance Report Manually remove the Invoice Price Variance amount from the A/P Accrual Account using your General Ledger 38 of 50 16-02-2011 23:22 . 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 for the accrual journal category the reverse option is selected. The Create Accounting Program has to be run to create SLA journals. This process can be run as many times as needed. 8. Oracle Purchasing creates accrual entries only up to the quantity the supplier did not invoice for partially invoiced receipts. Journal entries are created for the amount of the receipt liabilities. 5. RECONCILE ACCRUAL ACCOUNTS . Oracle Purchasing creates an un-posted journal entry batch in the General Ledger for the receipt accruals. where possible. 3.PERPETUAL ACCRUALS Identify the period-end balances of the following accounts in the General Ledger: 1.Steps for Closing Period in R12 Financials . If encumbrance or budgetary control is being used.Period-End Report to create period-end accruals for un-invoiced receipts for Expense distributions for a specific purchasing period. RUN THE RECEIPT ACCRUALS .USE FIREFOX http://apps2fusion. on the Accrual tabbed region of the Purchasing Options window for the current Organisation. a reversal is not required. Attention: The Receipt Accruals Period End Program creates accounting in the receiving sub ledger only. to enable creation of receipts accrual entries.PERIOD END PROCESS Run the Receipt Accruals . Identify the purchasing period for the receipt accrual entries. 7. 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. debiting the charge account and crediting the Expense AP Accrual Account. should be carried out at this point in the period-end process. COMPLETE THE ORACLE PAYABLES PERIOD-END PROCESS Complete the steps to close the Oracle Payables period. 4. and resolution of any invoice holds. Oracle Purchasing creates receipt accruals for all receipts entered up to the end of the nominated period. another journal entries batch is created. Oracle Purchasing reverses the encumbrance entry when creating the corresponding accrual entry. When the Accrue Expense Items flag is set to At Receipt. 1. matching of unmatched invoices. Performing the Oracle Payables Period-End process effectively prevents any further invoices or payments being entered into Oracle Payables for the closed period. If the profile option set to ‘N’ then accrual entries needs to be reversed manually.. Each time the process is run. which corresponds to the Oracle Purchasing period being closed. 1. 9.

When this happens. Run the Invoice Price Variance Report for the current period. 1. 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. Quantities differ 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 mentioned previously.Part 1 . or accounts payable transactions: 1.USE FIREFOX http://apps2fusion. AP and PO Accrual Reconciliation Report The AP and PO Accrual Reconciliation Report provide a transactional breakdown of each accrual account with a net balance not equal to zero.. work in process. You can accrue both expense and inventory purchases as you receive them.Steps for Closing Period in R12 Financials . purchasing. distinguish accrued receipts from invoice price variances.com/apps-training/r12-functional-documents/468-how-. inventory. At any given time. and identify errors. Uninvoiced Receipts Over-invoiced Receipts Errors (Invoices or inventory transactions charged to this Account by mistake) You need to analyze the balance of the A/P accrual accounts. the following transactions can account for the balance in the A/P accrual account: 1. All the affected PO distributions (in the case of AP/PO transactions and individual transactions in the case of miscellaneous transactions) will be deleted first and the transaction information for these distributions will be fetched and loaded into the accrual reconciliation tables. When Oracle Payables creates the accounting 39 of 50 16-02-2011 23:22 . Summary Accrual Reconciliation Report The Summary Accrual Reconciliation Report can be used to analyze the balance of the Accounts Payable (AP) accrual accounts. you temporarily record an accounts payable liability to your Expense or Inventory AP accrual accounts. The Accrual Reconciliation Reports are used to analyse un-invoiced receipts and to reconcile the balance of the AP accrual accounts. 1. Program: Accrual Reconciliation 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. 1. Identify the Invoice Price Variances amount and Accrued Receipts amount in the A/P Accrual Account. These reports enable you to identify the following issues in receiving.. These are discussed below: 1. Identify the invoice price variance for all purchase orders charged to the Inventory A/P Accrual Account and compare it with the balance of the Invoice Price Variance account in the General Ledger.

If you also receive inventory. The default processing for Oracle Financials at year end is to extinguish any outstanding encumbrances or unused funds when you close the last period of the Financial Year within Oracle General Ledger. If expense purchases are accrued on receipt. Accounting entries have to be created in SLA and GL for these write-off transactions by submitting the Create Accounting program and hence manual adjustment of accrual entries is not required. The Accrual Reconciliation Reports requires the transactions to be transferred to the General Ledger interface to ensure the report balances to the General Ledger. The carry forward process enables managers to perform any of the following: 1. Attention: For Oracle Purchasing. Prerequisites: 1. Carry forward encumbrances for existing transactions (purchases / requisitions). The Reconciliation reports also provide information on the quantity differences (the quantity received for a purchase order shipment is less than the quantity invoiced) and price differences.Steps for Closing Period in R12 Financials . and Oracle Work In Progress. more entries must be reconciled in the Accounts Payable accrual accounts.com/apps-training/r12-functional-documents/468-how-. If expense purchases are accrued on receipt. Attention: Most commercial installations accrue expense receipts at period end. 40 of 50 16-02-2011 23:22 . as the information is not required as the receipt occurs. For Oracle Payables.. a GL transfer or period close must first be performed for the transactions to appear on these reports. Ensure that prior to closing the period. If you have installed Oracle Inventory or Work in Process. the Accrual Write-Offs window can be used to indicate which entries are to be removed and written off from this report. 10. 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. no information will be available to report.Part 1 . It displays the balance of each accrual account as well as partial representation of source of the balance After researching the reported accrual balances. If expense purchases are accrued at period end.USE FIREFOX http://apps2fusion. these differences are resolved. this report enables reconciliation with the accounts payable accrual account. the Accrual Reconciliation Report also displays any inventory or work in process transactions for the accrual accounts.. and inventory receipts are not performed. all transactions are created in purchasing and need the GL Transfer Program to be run to transfer to GL. Oracle Payables clears the AP accrual accounts and 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 A/P AccrualAccounts. for the matched and approved invoice. the Receiving Value Report by Destination Account must be run to break out the receiving/inspection value by asset and expense. For Oracle Inventory. journal entries must be created for the invoices. Oracle Payables and Oracle Purchasing installed. The Reconciliation Reports can help in monitoring potential problems with purchasing and receiving activities that can affect the accuracy of the AP accrual accounts. 10.

(Refer to Chapter 11 Period-End Procedures for Oracle General Ledger) 1. Identify Outstanding Encumbrances · Print the Encumbrance Detail Report to review the requisition and purchase order encumbrances. After the Receipt Accruals . During the period. the encumbrance detail on the report is based on invoice matching information from Payables. and requisitions and purchases have entered and approved. Mass budget processing also allows you to combine these budgets. the encumbrances on the Encumbrance Detail Report remain until payment information from Payables is transferred to General Ledger. and the encumbered budget. Use this report to review the accounts encumbered. Based on this report you can identify those transactions that you wish to carry forward into the new financial year.com/apps-training/r12-functional-documents/468-how-. Upon entering receipt delivery information.Steps for Closing Period in R12 Financials . Attention: You must complete the Year End Encumbrance processing in Oracle Purchasing before commencing the year end Encumbrance processing in Oracle General Ledger. Carry forward encumbrances. Period-end accrual: Generate the Encumbrance Detail Report at period-end. Receipt accrual: Generate the Encumbrance Detail Report as needed when the Accrue at Receipt option is used... Use mass allocations to bring forward part of the funds available. Cash basis: If cash-basis accounting is used.Period-End process is run. 1. 41 of 50 16-02-2011 23:22 . the Encumbrance Detail Report reflects the true period-end receipt information.Part 1 . not on receiving information. Carry forward the funds available as at the end of the year. · The Encumbrance Detail Report reflects activity from General Ledger. Therefore. Other facilities available: 1. 1. 1. When cash-basis accounting is used and the Payables Transfer to General Ledger process is submitted.USE FIREFOX http://apps2fusion. if the encumbrance option for requisitions or purchase orders has been enabled. an automated process transfers the receipt information to General Ledger using the Journal Import Process. use the Encumbrance Detail Report in a way that matches the accounting method: 1. 1. · The steps required to complete Year end Encumbrance processing in Oracle Purchasing are: · a. Refer below for the steps required to cancel transactions that are not to be carried forward. Carry forward budgets into the current appropriation budget. not Purchasing or Oracle Payables. Payables transfers only accounting information for paid invoices to the General Ledger. or to a separate budget to identify between current year and carry forward amounts if required.

Document Type Supplier Name Accounting Flexfield Range This process will automatically generate a MassCancel listing report identifying the following: 1. 13.. Suppliers Audit Report Use the Supplier Audit Report to help identify potential 42 of 50 16-02-2011 23:22 . CLOSE THE CURRENT ORACLE PURCHASING PERIOD Close the current Purchasing Period in the Control Purchasing Periods window. you have the option of canceling the original requisition at the same time 11. Oracle Purchasing creates journal entries to zero out the encumbrances associated with the canceled requisitions and purchase orders. b. 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). Note that when canceling a purchase order. 11.com/apps-training/r12-functional-documents/468-how-. This report also shows if a supplier is on PO Hold. and you can additionally order the report by supplier number. Define MassCancel The Define MassCancel window is used to nominate a date range for transactions. OPEN THE NEXT ORACLE PURCHASING PERIOD Open the next purchasing period in the Control Purchasing Periods window. Payables lists your suppliers in alphabetical order. you must initiate MassCancel twice.Steps for Closing Period in R12 Financials . 12.. Perform MassCancel in Oracle Purchasing (Optional) MassCancel enable the cancellation of requisitions and purchase orders on the basis of user selected criteria.USE FIREFOX http://apps2fusion. You have the option to include supplier site address and contact information. Unable to Cancel Requisitions (reasons provided) Unable to Cancel Purchase Orders (reasons provided) Partially in Range Documents Fully in Range Documents Run MassCancel When this process is run. Attention: If you wish to cancel both purchase orders and requisitions.Part 1 . as well as any of the following: 1. 13. 12. RUN STANDARD PERIOD END REPORTS (OPTIONAL) Suppliers Quality and Performance Analysis Reports Suppliers Report Use the Suppliers Report to review detailed information entered for a supplier in the Suppliers and Supplier Sites windows.

This report lists active suppliers whose names are the same up to a specified number of characters. The Actual Percentage is the items expenditure as a percentage of the total expenditure for the date range of the report. Purchasing prints the requisitions in order of creation date and prepared name. The % Open Current is the percentage of the ordered quantity not yet received. The % Received Early is the percentage of the ordered quantity received before the promise date and outside the receipt tolerance days. The report prints the items that are assigned sourcing rules.Steps for Closing Period in R12 Financials . etc. Vendor Service Performance Analysis Report The Supplier Service Performance Analysis Report lists late shipments. and auto source rules are updated to the new supplier. rejected. Analyse Requisitions Requisition Activity Register The Requisition Activity Register shows requisition activity and monetary values.. and shipments to wrong locations. quotations. After duplicate suppliers have been identified. 43 of 50 16-02-2011 23:22 . The % Open Past Due is the percentage of the ordered quantity not received by the promise date and beyond the receipt tolerance days. 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. The % Received On Time is the percentage of the ordered quantity received on the promise date or within the receipt tolerance days. duplicate suppliers.. This report can be used to derive a supplier service penalty by multiplying the days variance quantity by a percentage of the price. The result is the quantity per day the supplier is in variance. The Expenditure is the sum of the item line amounts for standard purchase orders for the supplier. then any references to the supplier in blanket purchase orders. and returned. all divided by the total corrected received quantity. but within the receipt tolerance days or not past due.com/apps-training/r12-functional-documents/468-how-. Vendor Volume Analysis Report The Supplier Volume Analysis Report shows the dollar value of items purchased from a supplier. for percents accepted. The % Received Late is the percentage of the ordered quantity received after the promise date and outside the receipt tolerance days. If purchase order information is merged.USE FIREFOX http://apps2fusion. early shipments. This report is useful to identify suppliers with quality performance issues. Use the report to compare actual purchase percentages with sourcing percentage. they can be combined using Supplier Merge. The Intended Commitment is the total expenditure multiplied by the split percentage entered in the sourcing rules. Vendor Quality Performance Analysis Report The Supplier Quality Performance Analysis Report can be used to review suppliers' quality performance. rejected shipments.Part 1 . special characters. Payable inserts a blank line between groups of possible duplicate suppliers. spaces. The report ignores case. The report lists all site names and addresses of each potential duplicate supplier.

Savings Analysis Reports Savings Analysis Report (by Category) The Savings Analysis Report (By Category) shows buyer performance by category. If the line price type is Q. The Amount Saved is the negotiated amount less the actual amount. Purchasing prints the blanket agreement or planned purchase order header information. For each blanket purchase agreement and planned purchase order created. RFQ and Purchase Order Statuses Purchase Order Statuses may optionally be reviewed early in the period close processing for Oracle Purchasing. Savings Analysis Report (by Buyer) The Savings Analysis Report (By Buyer) shows buyer performance by purchase order. If the market price is not defined. if no release exists. 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. Purchasing prints the product of the market price of the item ordered and the quantity ordered. Use this report to review the accounts encumbered.Part 1 . the line price was from List Price. the line price was from the Quote. the line price was from List Price. The Negotiated Amount is the product of the price on the quotation and the quantity ordered. 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 Negotiated Amount is the product of the price on the quotation and the quantity ordered. the line price was from the Quote. and if the line price type is L. The Actual Amount is the product of the actual price listed on the purchase order line and the quantity ordered. The report includes a price type Legend at the bottom of each page for the price type.. and if the line price type is L. 44 of 50 16-02-2011 23:22 . quote.. with negative figures in parentheses. If a quote is not defined.USE FIREFOX http://apps2fusion. Use the report to compare the market. and there are entered and approved requisitions and purchases. If the line price type is M. particularly where you have defined multiple Mass Cancel batches. The Amount Saved is the negotiated amount less the actual amount. or list price to the actual price. Purchasing uses the list price.com/apps-training/r12-functional-documents/468-how-. If a quote is not defined. Purchasing prints the product of the market price of the item ordered and the quantity ordered. The report includes a price type Legend at the bottom of each page for the price type.Steps for Closing Period in R12 Financials . Purchasing uses the list price. If the line price type is Q. Cancelled Purchase Orders Report Cancelled Requisition Report Use these reports to review all purchase orders and requisitions cancelled. using blanket purchase agreements and planned purchase orders. Review Quotation. Purchasing provides the detail of the releases created against these orders. the line price was from Market Price. 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. If the line price type is M. the line price was from Market Price.

To avoid date entry error (when both periods are open) there is a profile option (INV: Transaction date validation). CHECK INVENTORY AND WORK IN PROCESS TRANSACTION INTERFACES Check the Interface Managers window to ensure that there are no background 45 of 50 16-02-2011 23:22 . Attention: For large number organization environments. Transfer inventory and manufacturing costs to the General Ledger. then the closure process is processed for the past month. Attention: Usually.Steps for Closing Period in R12 Financials . Oracle Inventory and Oracle Cost Management provide the required features to affect the necessary period-end procedures to: 1. Chapter 8 Oracle Inventory This chapter describes the procedures for performing period-end processing in Oracle Inventory Release 12. 0. there is functionality to open / close many logistic organizations by batch program : “open period status report”. Ensure that all issues. packing slips in receiving. Independently open and close periods for each inventory organisation. the next period is opened to allow key-in from the first day.g..Part 1 . 1. Perform interim transfers to the General Ledger without closing the period. Procedures The following steps are taken in performing period-end processing for Oracle Inventory. and adjustments have been entered and verify that no hard copy records exist or are awaiting data entry. shipping. Optional Report .USE FIREFOX http://apps2fusion. e. 1. means at month end. receipts. 0. 1. logistic and manufacturing system need to be always open for worker transactions .. 12.com/apps-training/r12-functional-documents/468-how-. “close period status report”. Transfer summary or detail accounting information to the general ledger. 1. 2. These costs are then transferred to the General Ledger for posting.Cycle Count Pending approval Report 2. COMPLETE ALL TRANSACTIONS FOR THE PERIOD BEING CLOSED 1. 1. Reconcile the inventory and work in process costs and values. Business Requirements The period close process for Oracle Inventory enables summarising of costs related to inventory and manufacturing for a given accounting period.

then relaunch transactions using : 1. In case of error : correct source error. 1. Resolution Recommended: Displays the number of pending receiving transactions. once it is closed these transactions cannot be processed in that period.com/apps-training/r12-functional-documents/468-how-. These must be resolved before the period is closed. Though the accounting period can be closed. once closed. 4. or concurrent programs unprocessed. 1. The interface managers that need to be run are as follows: 1. This will display transactions under the following statuses: Resolution Required: displays the number of unprocessed material transactions.Steps for Closing Period in R12 Financials . 4. 1. cannot be reopened. Since a period. uncosted material transactions. Then at month end before closing.. TRANSFER SUMMARY OR DETAIL TRANSACTIONS Run the ‘Create Accounting-Cost Management’ program up to the period end date before closing the period. and pending shop floor move transactions existing in this period. 1.USE FIREFOX http://apps2fusion. Cost Manager (mandatory) Material Transaction Manager (Optional. and any adjustments to the period can be made via new inventory transactions as required. depending on INV profile option “TP-INV: Transaction Processing Mode” ) Move Transaction Manager (for WIP) 0.Part 1 . CHECK AND FIX PENDING TRANSACTIONS Check and fix any rejected transactions : from the “Inventory Accounting Period Window” click on the pending button to display pending transactions. pending material transactions. 3. 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 46 of 50 16-02-2011 23:22 . and pending WIP costing transactions existing in this period.. running this process prior to closing the period facilitates validating the interfaces transactions. Attention: This process needs to be completed for each Inventory Organisation defined. INV / Transactions / Pending transactions INV/ Transactions / Transaction Open interface OM / Shipping / Interfaces This check should be done during the month to avoid accumulated problems.

a GL Transfer would automatically be initiated. Draft Accounted.Steps for Closing Period in R12 Financials . The period close performs the following: 47 of 50 16-02-2011 23:22 .USE FIREFOX http://apps2fusion. CLOSE THE CURRENT ORACLE PAYABLES AND ORACLE PURCHASING PERIODS Complete all steps required to close Oracle Payables and Oracle Purchasing. and accounting events by accessing the Sub ledger Accounting user interface from the View Transactions window and various statuses for Ex: Final Accounted.com/apps-training/r12-functional-documents/468-how-. journal entries associated with transactions. CLOSE THE CURRENT INVENTORY PERIOD Closing the inventory period using the Inventory Accounting Periods window automatically transfers summary transactions to the general ledger interface table. 5.. prior to closing the inventory period. as a manual procedure. Oracle Purchasing should be closed before Oracle Inventory. 7. Oracle Payables is closed prior to Oracle Purchasing to enable running of purchase accruals to accrue expenses on un-invoiced receipts. and the period was closed. This still allows miscellaneous transactions corrections in inventory. transfers the accounting to GL. 5. and a closed period cannot be re-opened. If Oracle Purchasing or Oracle Inventory are closed. Attention: This process needs to be completed for each Inventory Organisation defined. OPEN THE NEXT INVENTORY PERIOD Prior the first day of data entry. since transactions cannot be posted to a closed period. but no adjustments to that period could then be entered. However. 6..Part 1 . open the next inventory period using the Inventory Accounting Periods window. a receipt cannot be entered for that period. 6. As explained in step 3/. click on the pending button to display any remaining pending transactions and make the appropriate resolutions. View accounting. Attention: This process needs to be completed for each Inventory Organisation defined. Attention: The Transfer Journal Entries to GL Cost Management Program transfer the accounting details for all the inventory organinzations within a Ledger. Errored can be selected. 7. Attention: If this step was by-passed.

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. 1. Job close performs the necessary accounting for each job.Steps for Closing Period in R12 Financials . 1. Creates summary or detail work in process accounting entries in the GL interface. The following reports can be run to help with these reviews: 1. The period-end values by sub-inventory reported with the Period Close Summary Report. If you detect unusual accounts or amounts. the period close process writes off any remaining balances and transfers any period costs to the general ledger. may create discrepancies. Use the Period Close Value Summary to see summary balances for sub-inventories. But Journal entries from products other than Oracle Inventory. use the Material Account Distribution 1. 1. For each sub-inventory. the report displays the sub-inventory values at the end of that period. including variance calculations. If you run this report for a closed accounting period. Period Close Value Summary Report. This. the report displays the sub-inventory value at the point in time you run the report.com/apps-training/r12-functional-documents/468-how-. Discrete jobs and certain non-standard jobs are closed separately. For expense non-standard jobs.. The period close process automatically transfers all job costs and variances by general ledger account. the period close period adds the net transaction value for the current period to the previous period’s ending value. 48 of 50 16-02-2011 23:22 . Use the Material Account Distribution Summary Report to verify inventory account activity against inventory valuation increases or decreases for the accounting period. 8. Closes the open period for Oracle Inventory and Oracle Work in Process. along with values in transit creates the period-end value for the current period.. Calculates period-end sub-inventory balances. If you run the report for an open period. use this report to reconcile an account across several periods. Material Account Distribution Summary Report. 0. 1. Creates summary or detail inventory accounting entries in the GL interface.Part 1 .USE FIREFOX http://apps2fusion. Warning: Closing an inventory period permanently closes the period and no further transactions can be charged to that period. The balance normally matches with the General Ledger balance. Finally.

overhead and outside processing charges. or the Elemental Inventory Value Report. Additional useful reports : 1. This report does not list material cost transactions such as issues. Material Account Distribution Detail Report : use the Material Account Distribution Detail Report to view the accounts charged for inventory transactions. by summary or detail. The system groups the transactions by job or schedule. 10.. These information can be found using the Material Account Distribution reports in Oracle Inventory. Review inventory transaction values transferred to the general ledger by GL batch. and detailed item information for the sub-inventories specified. 9.com/apps-training/r12-functional-documents/468-how-. cost updates. These show quantity. valuation. by transaction type. completions. Hits: 2053 Email This Bookmark Set as favorite Comments (0) Subscribe to this comment's feed Write comment Name Email 49 of 50 16-02-2011 23:22 . including resource. check the work in process inventory balances against transactions with the WIP Account Distribution Report. The WIP Account Distribution Report details account information for work in process cost transactions. general ledger batches.USE FIREFOX http://apps2fusion. Detail report to print the transaction in detail.Steps for Closing Period in R12 Financials . (Warning : these reports show value at the point in time you run the report). Inventory Value Report : You can see more sub-inventory balance detail by running the Inventory Value Report.Part 1 .. and period close and job close variances. or both to help reconcile general ledger. and orders the transactions by earliest transaction date. VALIDATE THE WORK IN PROCESS INVENTORY If Oracle Work in Process is installed. Detailed account information is available for specific accounts. and scrap.

com/apps-training/r12-functional-documents/468-how-... Title Comment smaller | bigger Subscribe via email (Registered users only) Write the displayed characters 50 of 50 16-02-2011 23:22 .USE FIREFOX http://apps2fusion.Steps for Closing Period in R12 Financials .Part 1 .

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