Period Closing Process in Financials Modules

Introduction:
Period End Processing - Summary
1. A summary of the period-end procedures for each of the Financials applications
2. An indication of the order in which the steps should be undertaken.
StepsPayables
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 Uninvoiced 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)

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)

Inventory/WIP
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 TransactionsClose the Current Oracle Payables and Oracle Purchasing Periods
8.Close the Current Inventory Period
9. Open the Next Inventory Period
10. Run Standard Period End Reports (Optional)

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 Discounts
6. Review Backorders
7. Review and Correct Order Exceptions
8. Reconcile to Inventory
9. Reconcile to Receivables (Optional)
10. Run Standard Period End Reports

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
10. Print Invoices
11. Print Statements (Optional)
12. Print Dunning (Reminder) Letters (Optional)
13. Close the Current Oracle Receivables Period
14. Reconcile Posted Journal Entries
15. Review Unposted Items Report
16. Open the Next Oracle Receivables Period
17. Run Reports for Tax Reporting Purposes (Optional)
18. Run Archive and Purge programs (Optional)
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. Create Journal Entries
6. Rollback Depreciation and/or Rollback Journal Entries (Optional)
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)

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
7. Interface Transactions to Other Applications (AP, GL, FA)
8. Generate Draft Revenue for All Projects
9. Generate Invoices
10. Run Final Project Costing and Revenue Management Reports
11. Transfer Invoices to Oracle Receivables
12. Interface Revenue to General ledger (Project Billing Only)
13. Run Period Close Exception and Tieback Reports
14. Change the Current Period Oracle Projects Status from Pending Close to Closed
15. Advance the PA Reporting Period (Optional)
16. Update Project Summary Amounts
17. Restore Access to User Maintenance Activities
18. Permanently Close the Oracle Projects Period (Optional)
19. Reconcile Cost Distribution Lines with General Ledger (Optional)

Cash Managment
1. Load Bank Statements
2. Reconcile Bank Statements
3. Create Miscellaneous Transactions
4. Review AutoReconciliation Execution Report
5. Resolve Exceptions on the AutoReceonciliation Execution Report
6. Run Bank Statement Detail Report
7. Run Transactions Available for Reconcilaition Report
8. Resolve Un-reconciled Statement Lines
9. Run the GL Reconciliation Report
10. Run the Account Analysis Report for the General Ledger Cash Account
11. Review the Account Analysis Report
12. Correct any Invalid Entries to the General Ledger Cash Account (Optional)
13. Perform the Bank Reconciliation

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 Sets of Books (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)

Note: This list talks at various points about the 'Standard Reports'. If you can name the standard period closing reports in various modules, that can add value to this list

Printer type and its significance and How you relate Printer driver and Printer type.

A printer type identifies a printer by manufacturer and model. A print style tells the printer how a printed output should look. A printer driver delivers commands that tell the printer how to output the specified print style. The ability to print a report in a particular print style depends on the type of printer the report file is sent to.

Step 1.Printer Type : What kind of printer you have. This is the manufacturer and model. Two examples are a DEC LN03 printer and an HP Laserjet III printer.

Step 2.Print Style : A description of how your report should be printed. Print style determines the:
- Number of lines per page.
- Width of each line.
- Whether a header page should be printed.
- Number of lines per page.
- Width of each line.
- Whether a header page should be printed.

Step 3.Printer Driver: The set of commands that tell a printer how to print in the Print Style chosen.
- Initialization sets printing orientation.
- Reset clears printer’s instructions for next print job.

SetUp Steps
Step 4 - Setup Printer Driver - run on Client
Go into applications as a user with 'System Administrator' responsibility.
Go to Install-->Printer-->Driver
Create new driver by entering the following information:-
Driver Name : testDriver
User Driver : testDriver
SRW Driver : L
Arguments : print /d:\\\ $PROFILES$.FILENAME (where is the host name returned by the hostname command and is the Share Name you gave to the printer in step (1) above) e.g. 'print /d:\\ukp19999-4w\testprn $PROFILES$.FILENAME'

All other options should be left at default - which is blank for everything except 'Driver Method' which is defaulted to 'Command'.

Step 5 - Setup Print Style - run on Client
Go to Install-->Printer-->Style
Create new style by entering the following information:-
Style Name : testStyle
Seq : 4User
Style : testStyle
SRW Driver : L
Columns : 132
Rows : 64
All other options should be left blank. NOTE - the 'Seq' number needs to be unique, so if you get an error to the effect number 4 has already been used, then use a different number that has not previously been used. The seeded data uses multiples of 5 (ie - 5, 10, 15, etc) up to a value of 185.

Step 6 - Setup Printer Types - run on ClientGo to Install-->Printer-->TypesCreate new type by entering the following information:-
Type : testType
Style : testStyle
Driver Name : testDriver

Step 7 - Register Printer - run on ClientGo to Install-->Printer-->RegisterCreate new printer by entering the following information:-
Printer : testPrinter
Type : testType

Step 8 - Setup profile option - run on ClientGo to Profile-->System Type in 'printer' in the 'Profile' and click on 'Find' This should display the System Profile option called Printer on screen. Click on "Site" and then use the List Of Values to select your printer called'testPrinter' Save this setting, then exit Oracle Applications

Step 9 - Stop and restart Concurrent Manager - run on Server Go to Settings-->Control Panel-->Service Scroll down to and click on 'OracleConcMgr' where is your APPL_CONFIG setting. Click on 'Stop' to stop the service. This could take a couple of minutes whilst the FNDLIBR, etc processes are gracefully stopped. When you are returned to the Services list, click on 'Start' to restart the Concurrent Manager.