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Oracle EBS Financial Period Closing Activity

This document outlines the key steps for closing periods in Oracle EBS financial modules, including cash management, accounts payable, accounts receivable, fixed assets, general ledger, and doctor payments. The procedures involve completing and validating all transactions, running create accounting and transfer to GL processes, reconciling reports, and closing periods after ensuring balances are accurate. Detailed reports are available for reconciling balances and transactions between subledgers and the general ledger.

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Mazharul Islam Tahin
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156 views14 pages

Oracle EBS Financial Period Closing Activity

This document outlines the key steps for closing periods in Oracle EBS financial modules, including cash management, accounts payable, accounts receivable, fixed assets, general ledger, and doctor payments. The procedures involve completing and validating all transactions, running create accounting and transfer to GL processes, reconciling reports, and closing periods after ensuring balances are accurate. Detailed reports are available for reconciling balances and transactions between subledgers and the general ledger.

Uploaded by

Mazharul Islam Tahin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Oracle EBS Financial Modules Period Closing Document

Created by
Sr.Application Consultant Nasir Uddin Fahad

Fusion Infotech Ltd

Verified by:
Mohammad Maksudur Rahman
Mohammad Sawkat Ahmed
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Oracle EBS Financial Modules Period Closing Activity

1. Cash-Management: Following steps should be followed for CE closing. This module is integrated
with GL,AP,AR.

I. Complete all Bank Account Transfer Activity.


II. Run the Cash-in transit report for checking unreconciled transactions.
III. Manual Clearing process must be finished within desired period.
IV. Run the Create Accounting Process in Final Mode
V. Run the Transfer to GL Process
VI. Run Period Closing exception report, after this correct error and again follow the IV and V
steps.
VII. Run Account Analysis Report for specific account code combination balance to match with
GL Trial Balance Report.

2. Accounts Payables: Closing procedures are given below

I. Complete All Invoices and Payments transactions.


II. Run Invoice Validation process for validation of all invoices
III. Run the Mass Addition Process
IV. Run Create Accounting Process in Final Mode
V. Run Unaccounted Transaction Report and Correct the issues and again follow the III step
VI. Run the Period Closing exception Report and solve the issue after this again follow III step.
VII. Run the Transfer to GL process.
VIII. Run the Mass Addition Create Report for checking fixed asset.
IX. Run Account Analysis Report for specific account code combination balance to match with
GL Trial Balance Report.
X. After finishing above task correctly, Close the Payables Period.

3. Accounts Receivables: Closing procedures are given below

I. Run the Auto invoice Master Program me and Correct the error
II. Run the Incomplete Invoice Report
III. Complete the Invoices
IV. Run Receipt Register report for checking receipt status whether is it unapplied,
unidentified etc. after this apply the receipt on the invoices.
V. Run the create accounting process in final mode.
VI. Run the transfer to GL in Post mode.
VII. Run the unposted transaction report and again follow the V, VI steps.
VIII. Run the Period closing exception Report and correct the issues and again follow V, VI
steps.
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IX. Run Account Analysis Report for specific account code combination balance to match with
GL Trial Balance Report.
X. After finishing above task correctly, Close the Period.

4. Fixed Asset: Closing procedures are given below

I. Post All the Asset from Prepare mass additions.


II. Capitalize the CIP assets(if needed)
III. Run the Depreciation
IV. Run Create Accounting process in Final Mode.
V. Run Transfer Journal Entries to GL process in post mode.
VI. Run Sub-ledger Period Closing exception report and solve the issues and again follow
IV, V.
VII. Run Account Analysis report for matching GL Trial Balance.
VIII. After finishing all tasks correctly, Close the Period.

Reconcile Oracle Assets to the General Ledger Using Reports


* Reserve Ledger Reports
a) Journal Entry Reserve Ledger –
Reconcile with the Account Analysis with Payables Details Report.
b) Tax Reserve Ledger Report
Additionally, the Account Reconciliation Reserve Ledger Report can be run.
* Balances Reports
a) Cost Detail and Cost Summary Reports
b) CIP Detail and CIP Summary Reports
c) Reserve Detail and Reserve Summary Reports
d) Revaluation Reserve Detail and Revaluation Reserve Summary Reports
e) Account Analysis Report
* Transaction Reports
a) Asset Additions Report
b) Cost Adjustments Report
c) Asset Reclassification Report
d) Asset Transfers Report
e) Asset Retirements Report
f) Reinstated Assets Report
g) Cost Clearing Reconciliation Report
* Drill Down Reports
The drill down reports of 11i were replaced by the Subledger Accounting Account
Analysis Report in R12
* General Ledger Reports
a) Unposted Journals Report–
Run- run the General Journals Report for Posting Status = Unposted to reconcile with
the Drill Down reports.
b) Posted Journals Report–
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Run- run the General Journals Report for Posting Status = Posted.
c) Account Analysis Report with Payables Detail –
The ending balance of this report reconciles with the Reserve Summary Report
ending balance.
d) Financial Statements Generator –
It is recommended that you create a detailed Financial Statement Generator (FSG) for
all asset accounts. This can be done at cost centre level for direct comparison with
the Asset Cost Summary and Reserve Summary reports.
5. General Ledger : Closing procedures are given below

I. Check the trial balance.


II. If Manual Adjustment Journal is needed, give the entry for that journal.
III. Post all the Journals.
IV. Check the FSG report.
V. After checking all balance through account analysis report, close the period.
Note: Do not use Permanently Close Period because after this you can not reopen period.
6. Doctor Payments
a. Run all transaction during this period
b. Chcek in Payable and receivable for related invoice and misc. receipt (payment)
c. Check related report

FSG
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View request --- open report


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How to modify or change


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Account assignment
Account code range include(+, default) or exclude (-)
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Calculator : sum / deduction /


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