# Requried to Do Before and start Closing

1 Send the Closing Mail to all the Departments

2 Send the Closed Mail to all the Departments

Requried to Do Before and After Closing

Send the Closing Mail to all the departments, so that

A) Sales Departments will process the pending Transactions of the Closing period
B) Purchasing Users will process thePending PR's,PO's,PO Receipts and submit the invoices before
closing the period so that Accruals will be less.
C) HRMS Department will process the pending Transactions of the Clsoing period.
D) IT Department will assist in reconcialtion and resolove the Technical issues if occured
By sending Closing mail to all departments they are notifying that current period is going to close, if
they have pending transaction for the clsoing period they will process the pending transaction and
updates the Finance team. Finance team can start Closing and Reconclation procedure so that we
can control the data issues and can get the Accruate balances

Send the Mail to all the departments after closing the Period so that
we won’t have any pending transactions from all the departments of the Closed Period.
Check List Inventory
Period :

Required (R)
or
# INV Period Closing Steps Optional (O)
1 Complete all Receipts R

2 Complete all Issues R

Ensure that the Cost Manager is active, if not launch the cost
3 manager in Inventory R

4 Run the "Matches Interface Import" program in LCM R

From the Inventory Accounting Close Cycle menu run the "Project
5 Cost Transfers" to call the Cost Collection Manager program. R

6 Run "Create Accounting - Receiving" program R

7 Run "Create Accounting - Cost Management" program R

8 Run "Transfer Journal Entries to GL" program R

9 Run Revenue recognition master program in AR R

9 Run Record OM transaction Program in CST R

10 Run Collect Revenue Recognition Information Program in CST R

11 Run Generate COGS Recognition Events Program in CST R

12 Run Create Accounting - Cost Management R
INV Closing Comment Report
Complete the Receipts for the Inventory and Non-inventory items

Complete all the inventory issues

To capture the actual landed cost from invoice and update the inventory item cost or
variance if any

To be followed by the program PRC: Transaction Import in Projects module

Run the Create Accounting Program from the "Cost Management" module to Process
the Receipts of Goods/Services

Run the Create Accounting Program from the "Cost Management" module to Process
the Inventory Transactions
Run the Transfer Journal Entries to GL from "Purchasing" to Transfer the encumbrance
accounting entries

To be run after running the Revenue recognition master program in AR

To be run after running the Revenue recognition master program in AR

To be run after running the Revenue recognition master program in AR

To be run after running all the above programs
Check List Accounts Payable
Period :

Required (R)
or
# AP Period Closing Steps Optional (O)

1 Complete all Transactions R

2 Complete Payments R

3 Run "Invoice on Hold Report" R

4 Run "Unaccounted Transactions Report (XML)" R

5 Run "Create Accounting " Program R

6 Run "Transfer Journal Entries to GL" R

7 Run "Journal Entries Report" O

8 Run " Mass Additions Create " Program R

9 Run " Mass Additions Create Report" Program R

9 Run "Payables Posted Invoices Register" O

10 Run "Payables Posted Payment Register" O

11 Subledger period close exception report R

12 Unaccounted Transaction Sweep O
13 Close Payable Period R

14 Open New Payables Period R

In GL, Query the Payables entries with Unposted status

15 and Post R
16 Reconciling the AP to GL
17 Payables Internal Reconciliation R
17.1 Run Previous Month Accounts Payable Trail Balance
17.2 + Posted Invoice Register
17.3 - Posted Payment Register
17.4 = Ending AP Balance
17.5

17.6

18 Payables Reconciliation to GL R

Reconcile Payments/Bank Statements

AP Closing Comment

Complete all Transactions like Invoice,Credit Memo,

Debit Memo,Prepayments,etc. releated to Closing Period

Note: Please note that the Inventory Receipts are entered in the system so that the matching can be done at the
time of invoice entry

Complete the Payments releated to Closing Period

Run this report enables to view of any holds currently applied to invoices that
would prevent the payment and/or posting of these invoices
Run this report to view of all unaccounted invoice and payment transactions and a view of the reason that
Payables cannot account for a transaction.

Run the Create Accounting Program from the AP Module to Process the
Accounting for all the transactions before closing the period and Reconcilaiton with the following parameters
as specified:

Ledger : your Company Ledger Name

End Date : Last date of the closing period
Mode : Final
Report : Detail
Transfer to GL : Yes
Post in General Ledger : Yes
Run the Transfer Journal Entries to GL to Transfer the Transactions which is already accounted with Final
during transaction or payment entry with the parameter Post in General Ledger as Yes.

Run this report to review and analysis of accounting entries in the Payables subledger,
Run the Mass Additions create program to create all the Asset related invoices to create
the Assets to current period. Select the parameter Asset Book and the last date of the closing period

To view the list of asset lines that are interfaced to the Mass Additions Table
Run this report 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.

This report is used to review the payments posted to Oracle General Ledger during a particular
accounting period, and can be used to review the payment activity for each bank account
used during that period.

Run this Report to review all the accounting events and journal entries
that fail period close validation.
Run this program to Transfer the Unaccounted Transactions to Next open Period
Make sure all the reports and Programs for the reconcilaiton and close the Period
Open the Payables Period for the data entry. This is normally done at the month end.

Note: If the next month is opened prior to the closing. Be watchful of the following date fields
1. Invoice date, 2. GL Date

Navigate to GL --> Journals --> Enter and in the source mention the Payables and Period the Closing Period
and in the Status select the Unposted. If any entries are listed then click on all the Post Button. Alternatively,
navigate to the GL --> Journals --> Post and enter the period and Source and Balance type as Actual and post
the entries.

Note: This step is necessary to post all the entries in GL where the Post in GL option was selected as No

Accounts Payable Trail Balance Of Last Month

+ Payables Posted Invoice Register
- Payables Posted Payment Register
= Ending Balance
The Total Balance is should equal to current month Accounts Payable Trail Balance

Ending Accounts Payable Trail Balance should Equal to the Current Month Accounts Payable Trail
Balance

Note: If there are differences please contact the support team

Make sure the Laibility Balances between GL Trail Balance and AP Trail Balance are same If not same review
the Account Analysis report of Accounts Payable

Note: If there are differences please contact the support team

Reconcile the Payments with the Cash Management Bank Statement

Report
 Check List : Purchasing
Period:

# PO Period Closing Steps

1 Complete all Transactions

3 Run the" Uninvocied Receipts "

4 Follow up Outstanding Invoices

5 Make sure the Payables Period is closed

6 Run "Create A+C9ccounting" Final

7 Run "Transfer Journal Entries to GL - Receiving"

8 Run "Transfer Journal Entries to GL"

9 Run "Accrual Reconciliation Load Run"

10 Run "AP and PO Accrual Reconciliation Report"

11 Close the Current Period

12 Open the New Period
_PO Closing Comment

Compelete all the Transactions like Purchase Requistion,Purchase Orders, PO Receipts and Returns
Run the Un-invoiced Receipts Report to review receipts for which the supplier invoice has
not been entered in Payables.

Items have recevied but Invoices not recevied follow up the Supplier to recevie the supplier invoice

Make sure the Payables period is closed if Payables period is not closed we cannot close the Purchasing
Period

Run the Create Accounting progam to process the accounting entries for any Adjustnents

Run the program to transfer all the Transactions from PO to GL

Run the Transfer Journal Entries to transfer the Budget Encumbrance entries
Run the Accrual Reconcilation Load run to populate the Accrual data on the
AP and PO Reconcialiton report
The AP and PO Accrual Reconcilation report should match with GL Trail balance Accrual account
make sure both amounts are same if not same substractthe Manual source journals from the GL
balance
Close the Current Period ( without Closing the Payables Current period we cannot close the Purchasing
Current Period)
Open the New Period for the Data Entry of Transactions
Report
Check List Project Costing and Billing
Period :

Required (R)
or
# Projects Period Closing Steps Optional (O)

1 Run PRC: Interface Supplier Costs R

2 Ensure payroll costs are transferred to Projects R

3 Ensure the EPM Time hours are uploaded into projects R

4 Ensure the OTL hours are imported for the month R

Ensure the Allocations like Pre-paid expenses, furniture
5 allowance are transferred to projects R

6 Ensure the Inventory Cost is transferred to Projects R

7 Ensure the CWIP Cost Program is run where applicable R

8 Run PRC: Distribute Usage and Miscellaneous Costs R

9 Run PRC: Generate Cost Accounting Events R

9 Run PRC: Create Accounting R

10 Run "Transfer Journal Entries to GL" R

11 Create Manual Billing and Revenue events O

Run PRC: Generate Draft Revenue for a single project

12 Review and release revenue R
Run PRC: Generate Revenue Accounting Events

run this program after releasing the revenue for all the
13 projects R

14 Run PRC: Create Accounting R

15 Run PRC: Tieback Revenue from General Ledger R

Run PRC: Generate Draft Invoice for a single project

16 Approve and Release R

17 Run PRC: Interface Invoices to Receivables R

18 Run Auto invoice master program R

19 Run PRC: Create Accounting R

20 Run PRC: Tieback Invoices from Receivables R

Run EXC: Transaction Exception Summary by GL Period

21 EXC: Transaction Exception Detail by GL Period R

22 Run Subledger period close exception report R

23 Setup-->System-->GL Period R
24 Setup-->System-->PA Period R

Reconcile Payments/Bank Statements

AP Closing Comment

This will interface Cost from AP to PA. For C4AS run the program with the Parameter Accrue Receipt as Yes to transfer
the receipt accruals in PO to Projects

Check the report and find out any exceptions

Run : EAI Payroll to Projects Interface and check the report and compare it with the Costing Detail report and
clear all exceptions

For unpaid leave adjustments, manual Web ADI adjustment has to be passed.

In case of employees working on multiple projects, using the Web ADI, the hours have to be uploaded

Run: PRC Transaction Import with the source Oracle Time and Labor

Run the Web ADI with the respective transaction sources

C4AS/EAG. Run PRC: Transaction Import with source as Miscellaneous Inventory to transfer the cost
In case of milestone projects, if the revenue is recognised, ensure that the Cost is transferred from CWIP to
Cost using the Program EAI CWIP to Cost Transfer

Run the program to cost the inputs through Web ADI in case of payroll to projects batch, the through date
should be the First Saturday of the next month

To generate accounting events for the costs

Run the PRC: Create Accounting Program to Process the

Accounting for all the transactions before closing the period and Reconcilaiton with the following parameters
as specified:

Ledger : your Company Ledger Name

End Date : Last date of the closing period
Mode : Final
Report : Detail
Transfer to GL : Yes
Post in General Ledger : Yes
Run the Transfer Journal Entries to GL to Transfer the Transactions which is already accounted with Final
during transaction or payment entry with the parameter Post in General Ledger as Yes.

If the projects revenue or billing is of Event type, then the manual events are to be created for the Revenue and
Billing purpose. Please ensure the following:

1. If the revenue or billing is top task based then enter the events task wise
2. enter the event date as the last day of the month or the date as per the billing cycle

Note: In some companies, manual events were suggested for specific items (Eg., GMS has to create a negative
billing event for the Staff Recoveries from Payroll that need to be adjusted for cash basis billing)

Run this program to generate draft revenue for all the projects. And review and release the revenue. Test check
the calculations for Cost + % or Cost + Amount or POC and ensure that all the costs are considered and
appropriate % is added as margin

The Accrue Through date should be the last day of the month

To generate accounting events for the revenue. This program can be run for all projects together

Run the PRC: Create Accounting Program to Process the

Accounting for all the transactions before closing the period and Reconcilaiton with the following parameters
as specified:

Ledger : your Company Ledger Name

End Date : Last date of the closing period
Mode : Final
Report : Detail
Transfer to GL : Yes
Post in General Ledger : Yes

This program is run to ensure that the Revenue is completely transferred from Projects to the General ledger.
The check point is that the Revenue Status in the Revenue Review form should be Accepted

Run this program to generate draft invoice for all the projects. Approve the invoicing and release the invoice.
Test check the calculations for Cost + % or Cost + Amount or POC and ensure that all the costs are considered
and appropriate % is added as margin

The Bill Through date should be the last day of the month or based on the billing cycle (eg. ERS on 16 of the
Quarterly billing month)

During release the invoice no, in the AR invoice no column the convention to be followed is Project No-Draft
invoice No (Eg., 020010-01). This will help you in the Aging report to find out the project invoice that needs
to be collected
Run the PRC: Create Accounting Program to Process the
Accounting for all the transactions before closing the period and Reconcilaiton with the following parameters
as
Tospecified:
transfer the invoices to the Receivables Interface table

Ledger : your Company Ledger Name

End Date : Last date of the closing period
Navigate to the receivables module and run the Autoinvoice master program with source as Projects invoices
Mode : Final
Report : Detail
Transfer to GL : Yes
Post in General Ledger : Yes

This is required to ensure that the Receivables invoices are properly created and tie-up with the project. After
running this program the following are the benefits

1. Credit memos can be raised from the projects

2. Receivables invoice can be viewed from the Projects Invoice Review Form
3. Invoice status should be Accepted in Receivable. All invoices for the month should have this status
code. Navigate to the Invoice Review form and check the Invoice Status Column

Run this report to show all the exceptions.

This normally lists all the exceptions on Cost, Revenue and Biling Processes

Note: If there are any expections then run the program EXC: Transaction Exception Detail by GL Period to get
detailed information
This report shows any exceptions that exist in the projects module. If you have any exceptions please contact
the support team
Close and Open New Period
Set Reporting period to the current Open Period

Reconcile the Payments with the Cash Management Bank Statement

Report

AUD: Supplier
Costs Interface
Audit

EAI Payroll to
Projects Interface
Report

Check the
exception report
to find any
exceptions

Check the
exception report
to find any
exceptions

Check the report

for Exceptions

Check the report

for Exceptions

Check the report

for Exceptions
Check the report
for Exceptions

Check the report

for Exceptions

Check the report

for Exceptions
Check the report
for Exceptions

Check the report

for Exceptions
Check List: Accounts Receivable
Period :

Required (R)
or
# AR Period Closing Steps Optional (O) AR Closing Comments
Comple all transactions for Oracle Receivables like AR Invoices,
Debit Memo's,Credit Memo's,Receipts etc.

1 Complete all Transactions -Review R Note: 1. Invoices not relating to Order Management and Projects have to be entered manually

Run the Auto Invoice Import Program before closing the month to create the Transactions from the
Order Management and Projects

Note: OM Invoices are imported after ship confirmation. Projects invoices are available after release
2 Run the Final "Autoinvoice Import Program" R from the Projects Billing Module

Review the Incomplete Invoices Report to check whether any incompleted Transactions are available
3 Run "Incomplete Invoices Report" R If available complete the AR Transactions
Review the Unapplied and Unresolved Receipts Register report to review the
4 Run 'Unapplied and Unresolved Receipts Register' Unapplied Receipts and apply the Unapplied receipts to the customer Invoices
Run the Create Accounting Program with the parameters
Mode : Final
Run "Create Accounting" for All AR Transactions Transfer to GL : Yes
5 R Post in General Ledger : Yes
6 Run Transfer to General Ledger Program R Run the program with the parameter Post in General ledger : Yes

Review the Invoice Exceptions report to find any invoices having issues review the report and
5 Run "Invoice Exception Report" correct the issues

6 Run "Aging Report 7 & 4 Buckets" Current Period Run the Aging Reports to view the Customer Receivables Opening Balance and Closing Balance

Run Unposted Items Report to review the unposted transactoins and

7 Run "Unposted Items Report" post it after reviewing
Do Create Accounting Final before doing Reconcialtion of AR to GL and
8 Run "AR Create Accounting - Final" Internal Reconcilation

9 Run "Account Analysis Report" To Review the account analysis to track the details

Use this report During the internal reconciliation process to see if the balances on the various
registers match those on the journal reports. You can also see which items affect aging; and which
10 Run "AR Reconciliation Report" items affect GL account balances

Navigate to GL --> Journals --> Enter and in the source Receivables and Period the Closing Period
and in the Status select the Unposted. If any entries are listed then click on all the Post Button.
Alternatively, navigate to the GL --> Journals --> Post and enter the period and Source and Balance
type as Actual and post the entries.

In GL, Query the Receivables entries with Unposted Note: This step is necessary to post all the entries in GL where the Post in GL option was selected as
11 status and Post R No

The AR to GL Reconciliation report compares the account balances in Oracle Receivables to those
in Oracle General Ledger, and highlights journal sources where discrepancies exist. This report
simplifies the reconciliation process by comparing Receivables and General Ledger account balances
12 Run "AR to GL Reconciliation Report" in a single place

The Subledger Period Close Exceptions Report lists all the accounting events and journal entries that
13 Subledger closing execptions report fail period close validation.
Make sure all the reconcialtion process and all the Programs run from the AR System and
14 Close Receivables Period Close the AR Periods

15 Open New Period Open the New Period for the Data entry of New period

16 Reconcile Customer Outstanding Balances Procedure to Reconcile the Outstanding Customer Balances
 Check List: Cash Mangement
Period :

# Cash Management Closing Activites

1 Upload the Bank Statement

2 Run " Transactions Available for Reconciliation Report"

3 Reconcile the Available Transactions with Bank Statement Lines

4 For Bank charges and Forex gain/loss

5 Make sure to do Create accounting of Payments and Receipts

6 Complete the Bank Transfers

7 Run " Bank Statement Detail Report"

8 Run " GL Reconcilation Report"

9 There are No Open and Close Periods in Cash Management Module

GL Closing Comment Report
Download the MT 940 statements and send a mail to the support team for the
upload of the Bank Statement

Run this report to review the Payments,Receipts,Journals are available for

Reconcilation with Bank statement

Reconcile the Available Transactions with Bank Statement Lines

Create the AP Invoice with the Supplier as Bank and bank charges as site and
select the correct account codes. If they are related to project, then enter the
project information and interface the costs to the project

Make sure to do Create accounting of Payments and Receipts after finished

the Reconcilation of Bank Statement lines

Complete the Bank Transfers before start the Bank Reconcilation

Run this report to review the Bank statement details of the Particular Bank

Run this report to compare between the Bank statament and GL Balance
 Check List: Assets
Period :

# FA Period Closing Steps

1 Complete all Transactions
2 Assign the Assets to Distrubution Lines

3 Run " Deprecation " for the Current month

4 Run " Create Accounting" Program

5 Run " Transfer Journal Entries to GL - Assets"

7 Run " Account Analysis Report"

8 Run the "Cost Detail Report and Cost Summary Rerpot"

9 Run the "Reserve Detail Report and Reserve Sumary Report"

10 Run the " Journal Entry Reserve Ledger Report"

11 Run the " Deprecation" to Close the current Month

12 Run the " Create Accounting and Transfer to GL" Final

13 Run "Subledger period close exception report"

14 Post Asset Transactions at GL

16 Reconciling the FA to GL
Reconcilile FA Transaction Activity
Run the Journal Entry Reserve Ledger Report
Trail Balance
17
Review all the Assets Cost, Asset Derprecations and Accumulated
Deprecation
 FA Closing Comment
Complete the Assets creations trough Prepare Mass Additions and Manual Additions
Make sure all the Assets have been entered all the Distribution lines information
Don’t Close the Current month at the Deprecation run.Close the Asset Period for the Final
Deprecation Run only.
Run the Create Accounting Program to create the accounting entries of the Transaction and to
Transafer assets to General Ledger

Run this Program before closing the Assets Periods to Transfer the Accounted Transactions

Run this report to review all the account analysis of any accounts

Run these reprots to Review the Asset costs and to Reconcile with the GL Trail Balance

Run these reports to review the Deprecation and Accumulated Deprecation

Run the Journal Entry Reserve Ledger report to review the Asset cost,Monthly Deprecation,
YTD Deprecation amounts and Accurmalated Deprecation amounts.

Review all the reports and reconcile with GL and Run the Deprecation to Close the Current
period and Open the Next period to Process the Next period Transactions

Make sure all the Assets are accounted and Transfer to GL for posting

Run this Report to review all the accounting events and journal entries
that fail period close validation.

Post the Asset releated transactions at GL before closing the Assets Period and Reconcilation

" Journal Entry Reserve Ledger Report" from Assets

"Trial Balance" from General ledger

Review all the Assets Cost, Asset Derprecations and Accumulated Deprecation
Make sure all the Assets Cost and Accumulated Deprecation should same
between GL TB with Journal Entry reserve ledger report from FA
Report
Check List General Ledger
Period :

# GL Period Closing Steps

Ensure the Next Accounting Period Status is Future

1
Entry

Complete all the Posting of all the Subledger

2
Journals

3 Generate Recurring & Allocation Journals

Run " Run Subledger Period Close Exceptions

4
Report "

5 Run the "Trail Balance" Reports

6 Enter Adjustments Journals if required and Post

7 General Ledger Reports -Review

8 Accounts Analysis Reports - Review

9 Trial Balance Reports - Review

10 Trial Balance Reports - Review

11 Run the reports in Hyperion

Make sure before closing we have reconcilaed GL
12
with the Subledger

13 Close the Current Oracle General Ledger Period

14 Open the Next Oracle General Ledger Period

15 Run Financial Reports for the Closed Period
GL Closing Comment

Make sure the Next accounting period stauts is Future

entry for Open the Period
Post all the Subledger Journal entires so that GL Trail Balance
will be available for Reconcilation with Subledgers

In the Find Journals form, check with the parameter Unposted Status to check any journals not posted
Finish the Allocation before taking the Final Trail Balance

Run the Subledger Close Exceptions report from the General Ledger
for all the Subledgers please correct all the issues in the report or sent to the
IT Department

Run the Trail Balance reports for review

Enter Adjustments Journals if required and Post

Run the requried GL Reports

Run the Ewaan Statement of Account to track the details of the cost elements

Run the Final Trial Balnce for submitting Management Reports. Please check the following control accounts
1. Petty Cash : tallies with the prepayment status report
2. Bank Account balances: Reconciliation is complete in cash management
3. Accounts Receivables (15110, 16110, 16114): tally with the AR Aging Report. 16114 should not have any bala
4. Staff Receivables - (15210) reconcile with the EAIG Loan Balance Report in HRMS
5. Advances to Suppliers (15310 : Reconciles with the EAI Prepayment status report. This account should not be u
advances
6. Advance to Suppliers Projects (15312) : Should reconcile with the EAI Prepayment status report and EAI Proje
7. Advance Clearing Account (15311) : Should not have any balance. If it exists, then some advance refund is not
8. Prepaid Accounts (Series 156XX) : Ensure that there is a reversal to charge account. If not, run the recurring or
to cost journal. If expense is related to project then the allocation has to be done in projects using Web ADI
9. Excess/Short Billing (15712) : Should tally with the EAI Project Status Inquiry Report
10. Receiving Inventory (17110) : Should not have any balance. It means that Receiving is not done in inventory o
manual entries are passed
11. Project CWIP (18110, 18114) : Should tally with the EAI Project Status Inquiry Report
12. Deferred Cogs (18111) : Used in Order Management, should not have any balance. It means that the Inventory
13. Asset Cost Account (221XOddNumer): Should tally with Cost Summary Report
14. Asset Clearing Account (221XEvenNumber): Should ideally be zero unless you did not want to capitalise the
15. Accounts payables (31101, 31201, 31301, 35110) : Tally with the Accounts Payable trial Balance and EAI Inv
16. Salary Payable (31305) : Should ideally be zero unless the rejections happen in the transfers
17. Inventory/expense Accrual (31412, 31413) : Balance means that invoices are not received / entered in the syst
zero
18. Unearned Revenue (31416) : Should be Zero. Otherwise Revenue Recognition Master Program should be run
Used only where Order Management is used
19. Landed Cost absorption Liability (31417) : Balance indicates that Invoices are not received or there is a differe
actual expenses of landed cost. Balance to be always monitored and should be big amount. Used where Landed co
module with stock items aused
20. Project Accruals (31418) : Account used to create project accruals using Web ADI in Projects module. Accrua
reversed in projects by negative Web ADI with transaction source "Accruals" in the month of booking of the cost.
21. Customer Advances - Projects (33110, 33211): 33110 shows the unadjusted advances and should tally with th
Report,. 33211 balance represents that invoices were raised on customers but not yet received. Check whether the
from the customer
Run the reports in Hyperion and analyse the variances and investigate the major variances

Make sure before closing GL we have reconcilaed GL with the Subledger and
Closed all the Subledgers
Close the GL Current Period here reports will be generating for Close period we
have to make sure all the reports of Close period should be normal there no
reports should be completed with warning and Errors
Open the Next period of GL
Run Financial Reports for the Closed Period in Hyperion
Report