Period End Processing In Oracle

1. Projects

1. Change the Current Oracle Projects Period Status from Open to Pending Close

2. Open the Next Oracle Projects Period

3. Complete All Maintenance Activities

4. Run Maintenance Processes

5. Complete All Transaction Entry for the Period Being Closed

6. Run the Final Cost Distribution Processes

6a.Run the Generate Cost Accounting Events Program

7.Interface Transactions to Other Applications

8.Generate Draft Revenue for All Projects

9.Review and Release Revenue for All Projects

10.Run Generation Revenue Accounting Event Process

11.Run Create Accounting

12.Generate Invoices

13.Run Final Project Costing and Revenue Management Reports

14.Transfer Invoices to Oracle Receivables

15.Run Period Close Exceptions and Tieback Reports

16.Change the Current Oracle Projects Period Status from Pending Close to Closed

17.Advance the PA Reporting Period

18.Update Project Summary Amounts

19.Restore Access to User Maintenance Activities

20.Permanently Close the Oracle Projects Period (Optional)

21.Reconcile Cost Distribution Lines with General Ledger (Optional)

2. Order Management

1. Complete All Transactions for the Period Being Closed

2. Ensure all Interfaces are Completed for the Period (Optional)

3. Review Open Orders and Check the Workflow Status

4. Review Held Orders

5.Review Customer Acceptances

6.Review Discounts

7.Review Back Orders

8.Review and Correct Order Exceptions

9. Reconcile to Inventory

10.  Create Service Contracts (Optional)

11. Reconcile to Receivables (Optional)

12. Run Standard Period End Reports

3. Cash Managment

1. Complete Daily Cash Management Activities

2. Load Bank Statements

3. Generate Sweep Transactions

4. Generate Bank Statement Cashflows

5. Reconcile Bank Statements

6. Create Miscellaneous Transactions

7. Review Auto-Reconciliation Execution Report

8. Resolve Exceptions on the AutoReconciliation Execution Report

9. Run Bank Statement Detail Report

10. Run Transactions Available for Reconcilation Report

11. Resolve Un-reconciled Statement Lines

12. Post to General Ledger

13. Run the GL Reconciliation Report

14. Run the Account Analysis Report for the General Ledger Cash Account

15. Review the Account Analysis Report

16. Correct any Invalid Entries to the General Ledger Cash Account (Optional)

4. Payables

1. Complete All Transactions for the Period Being Closed

2. Run the Payables AutoApproval Process for All Invoices / Invoice Batches

3. Review & Resolve Amounts to Post to the General Ledger

4. Reconcile Payments to Bank Statement Activity for the Period

5. Transfer All Approved Invoices Payments, Reconciled Payments to the General Ledger

6. Review the Payables to General Ledger Posting Process After Completion

7. Submit the Unaccounted Transactions Sweep Program

8. Close the Current Oracle Payables Period

9. Accrue Un-invoiced Receipts

10. Reconcile Oracle Payables Activity for the Period

11.  Run Mass Additions Transfer to Oracle Assets

12. Open the Next Payables Period

13. Run Reports for Tax Reporting Purposes (Optional)

14. Run the Key Indicators Report (Optional)

15. Purge Transactions (Optional)

5. Receivables

1. Complete All Transactions for the Period Being Closed

2. Reconcile Transaction Activity for the Period

3. Reconcile Outstanding Customer Balances

4. Review the Unapplied Receipts Register

5. Reconcile receipts.

6. Reconcile Receipts to Bank Statement Activity for the Period

7. Post to the General Ledger

8. Reconcile the General Ledger Transfer Process

9. Reconcile the Journal Import Process

10a. Print Invoices

10b. Print Statements (Optional)

10c. Print Dunning (Reminder) Letters (Optional)

11. Close the Current Oracle Receivables Period

12. Review the Subledger Period Close Exceptions Report

13. Third Party Balance’s Report

14. Reconcile Posted Journal Entries

15. Review Unposted Items Report

16. Review Account Analysis Report

17. Open the Next Oracle Receivables Period

18. Run Reports for Tax Reporting Purposes – ebTax (Optional)

19. Run Archive and Purge programs (Optional)

6. Purchasing

1. Complete All Transactions for the Period Being Closed

2. Review the Current and Future Commitments (Optional)

3. Review the Outstanding and Overdue Purchase Orders (Optional)

4. Follow up Receipts-Check with Suppliers

5. Identify and Review Un-invoiced Receipts (Period End Accruals)

6. Follow Up Outstanding Invoices

7. Complete the Oracle Payables- Period End Process

8. Run Receipt Accruals - Period End Process

9. Reconcile Accounts - Perpetual Accruals

10. Perform Year End Encumbrance Processing. (Optional)

11. Close the Current Purchasing Period.

12. Open the Next Purchasing Period.

13. Run Standard Period End Reports (Optional)

7. Inventory / Work In Progr.

1. Complete All Transactions for the Period Being Closed.

2. Check Inventory and Work In Process Transaction Interfaces.

3. Check Oracle Order Management Transaction Process.

4. Review Inventory Transactions.

5. Balance the Perpetual Inventory.

6.Validate Work In Process Inventory.

7. Transfer Summary or Detail Transactions

8. Close the Current Oracle Payables and Oracle Purchasing Periods

9. Close the Current Inventory Period

10. Open the Next Inventory Period

11. Run Standard Period End Reports (Optional)

8. Assets

1. Complete All Transactions for the Period Being Closed

2. Assign All Assets to Distribution Lines

3. Run Calculate Gains and Losses (Optional)

4. Run Depreciation

5. CreateAccounting

6. Rollback Depreciation

7. Create Deferred Depreciation Journal Entries (Optional)

8. Depreciation Projections(Optional)

9. Review and Post Journal Entries

10. Reconcile Oracle Assets to Oracle General Ledger Using Reports.

11. Run Responsibility Reports (Optional)

12. Archive and Purge Transactions (Optional)

9. Treasury

1. Complete Daily Trading Activities

2. Perform Revaluation

3. Generate Accruals and Amortization

4. Generate Journals

5. Transfer Journals to General Ledger

10. General Ledger

1. Ensure the Next Accounting Period Status is Set to Future Entry

2. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger

3. Upload Journals from ADI (Applications Desktop Integrator) to Oracle General Ledger

4. Complete Non-Oracle Sub-ledger Interfaces to Oracle General Ledger (Optional)

5. Generate Reversal Journals (Optional)

6. Generate Recurring Journals (Optional)

7. Generate Mass Allocation Journals (Optional)

8. Review and Verify Journal Details of Unposted Journal Entries

9. Post All Journal Batches

10. Run General Ledger Trial Balances and Preliminary Financial Statement Generator  Reports (FSGs)

11. Revalue Balances (Optional)

12. Translate Balances (Optional)

13. Consolidate  Ledgers(Optional)

14. Review and Correct Balances (Perform Reconciliations)

15. Enter Adjustments and / or Accruals and Post

16. Perform Final Adjustments

17. Close the Current Oracle Gneral Ledger Period

18. Open the Next Oracle General Ledger Period

19. Run Financial Reports for the Closed Period

20. Run Reports for Tax Reporting Purposes (Optional)

21. Perform Encumbrance Year End Procedures (Optional)