Period End Close- Oracle Financials

Payables

1) Ensure all invoices are Validated

2) Ensure all invoices are Accounted

3) Payables will transfer only those invoices which are in the status of Validated.

4) Run the following reports:

Unaccounted Transactions Report- Gives you the details of Unaccounted transactions for the period

Payable Accounting Process Report- For Invoices pending to be accounted

Payables Transfer to General Ledger - Transfer the invoices and payment details to General Ledger

Mass Additions Report- Transfer the asset related invoices into Oracle Fixed Assets module

5) Close the Period

Receivables

1) Ensure all transactions are completed

2) Ensure all Receipts are entered and status changed to Cleared

3) Once everything is completed, Click on Navigation Control>General Ledger and run the report. This will transfer the details to General Ledger

4) Close the Period

Assets

1) Ensure additions, adjustments, retirements and others details are completed for all the assets in a particular period

2) Ensure current period additions are transferred from Accounts payable thru Post Mass Additions

3) Run Depreciation Projection report to see the depreciation for the current period. Randomly check the depreciation amount for different categories

4) Run the report Create Journal Entries process which will transfer entries to General Ledger

Cash Management

1) Enter the Bank statement details for each bank in Oracel Cash Management module

2) Reconcile the Payments and Receipts details manually

3) Then Run below reports

Bank Statement Detail Report- This report will show transactions for each bank

GL Reconciliation Report

General Ledger

1) Make sure all the journals are transferrred to General Ledger. Check whether all the details transferred from sub-ledger

2) Review the Journals and Post the details once all the details are correct

3) Run the Trial Balance Report

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