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Period End Process

Module
Purchasing:

S.No

Description

1 Review the outstanding and overdue purchase orders

2 Identify and review Uninvoiced receipts (Period end Accruals)

3 Close the current period & Open the next period
Fixed Assets

1 Complete All Transactions for the Period Being Closed

2 Run Depreciation

3 Create Accounting

4 Rollback Depreciation

5 Reconcile Oracle Assets to the General Ledger Using Reports

6 Close Period
Receivables

1 Reconcile the transaction activity for the period

2 Reconcile the outstanding customer balances

3 Review the unapplied receipts register 4 Post to the General Ledger through Create Accounting program 5 Reconcile the General ledger transfer process

6 Review the Subledger period close exceptions report 7 Close the Current Receivables Period and open next period Payables 1 Review and account all invoices and payments 2 Transfer all Approved invoices and payments to the General Ledger Review the Payables to General Ledger posting Process after 3 completion 4 Run mass additions transfer to Assets 5 Close the present period and Open the next period Inventory 1 Check and fix pending Transactions 2 Transfer Summary or Detail Transactions 3 Close the Current Period and open the next period Run Standard Period-End Reports and reconcile the 4 Perpetual Inventory with GL General Ledger Run GL Trial Balances Preliminary Financial Statement Generator 1 reports 2 Enter Adjustments / Accruals and Post 3 Close the Current Period and open next period Note : If any period was not able to close please contact AGC oraclehepdesk .

Cost Adjustments Report.Period End Process Steps Report Open Purchase Orders Report(by Buyer) Uninvoiced Receipts Report Create Accounting . AR to GL Reconciliation Report Unapplied Receipts Register Create Accounting Journal Entries Report . Asset Additions Report. Transfer and post in GL Journal Entry Reserve Ledger.Create Accounting.Assets . Asset Retirements Report. Asset Transfers Report. Cost Clearing Reconciliation Report Transaction Register Sales Journal by Customer Report and the Sales Journal by GL Account Report.

Transfer and post to GL Accounts Payable Trial Balance Mass Additions Create program Create Accounting-Cost Management.Subledger Period Close Exceptions Report (Generated only for exceptions) Invoice on Hold Report. (optionally run . Material Account Distribution Summary Report) MB BALANCE SHEET. transfer and post in GL Transaction Value Historical Summary Average/FIFO/LIFO Costing. Unaccounted Transactions Report Create Accounting. MB INCOME STATEMENT (FSG Reports) .Period Close Value Summary Report. All Inventory Value Report. MB BALANCE SHEET (Multiple).

transfers Mugg & Bean Office User > Fixed Assets > Depreciation > Run Depreciation > Corrections if any cannot be done if the period is closed (Close the period after verification. run the Create Accounting after every modification Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Mugg & Bean Office User > Fixed Assets > Depreciation > Run Depreciation > (check the box colse period) and system will open the next period Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Transaction Register Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Unapplied Receipts Register M&B AR Create Accounting > Requests > Run > OK > Create Accounting Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Journal Entries Report . adjustments. system will open the next period) M&B Fixed Assets Super User > View > Requests > Submit a New Request > OK > Create Accounting .Assets Any alteration on a depreciated asset will result in an automatic rollback. retirements.Process & Navigation Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Open Purchase Orders Report(by Buyer) Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Uninvoiced Receipts Report M&B Purchasing Super User > Setup> Financials > Accounting > Control Purchasing Periods Mugg & Bean Office User > Fixed Assets > Complete manual & mass addtions.

period and click on Submit Mugg & Bean Office User > General Ledger > Enter and Post any final adjustments as required by the organization. M&B General Ledger Super User > Setup > Open/Close .Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Subledger Period Close Exceptions Report Mugg & Bean Office User > Account Receivables > AR .Periods > Open/Close Periods Mugg & Bean Office User > View > Requests > Submit a New Request > OK > M&B AP Create Accounting > View > Requests > Submit a New Request > Create Accounting Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Accounts Payable Trial Balance Mugg & Bean Office User > View > Requests > Submit a New Request > OK > Mass Additions Create program .if any asset purchses are booked M&B Payable Super User > Accounting > Control Payable Periods M&B Inventory Super User > Accounting Close Cycle >Inventory Accounting periods > Pending (For each inventory organization) M&B Cost Management Super User > View > Requests > Submit a New Request > OK > Create Accounting-Cost Management M&B Inventory Super User > Accounting Close Cycle >Inventory Accounting periods > Close (For each inventory organization) Mugg & Bean Office User > View > Requests > Submit a New Request > OK > M&B General Ledger Super User > Reports > Requests > Financial > OK > Select report.