The document provides guidance on efficiently handling the period-close process in Oracle EBS R12. It discusses the importance of period-close and outlines the recommended sequence of closing subledgers based on their dependencies. The period-close process in R12 occurs at the ledger level, not the operating unit level. It also describes how inventory period close can be performed for multiple inventory organizations simultaneously using the Close Period Control program.
The document outlines the steps to close an accounting period in Oracle Assets, which includes running depreciation, creating journal entries, reconciling with the general ledger, and optionally archiving and purging old data. Key steps are to ensure all transactions are entered, run depreciation which will close the period, create journal entries, review and post them, then reconcile various reports between Oracle Assets and the general ledger.
Oracle Project Costing is a solution for effectively managing project costs and accounting. It integrates with purchasing, payroll, accounts payable, and other modules to collect costs, then allows users to track costs, monitor project performance, and account for total business costs. Key capabilities include defining project classes, establishing budgets, collecting and distributing costs, and integrating costs with the general ledger for financial reporting.
This document provides an overview of Oracle Asset Management, describing the overall asset management process from setup through asset data flow to the general ledger. It identifies the key areas and functionalities within Oracle Asset Management, including asset additions, transfers, adjustments, retirements, depreciation, journal entries, reports, and integration with other Oracle applications. It also summarizes the asset lifecycle and implementation steps for Oracle Assets.
This document discusses Oracle's Transaction Account Builder (TAB) which is used to derive accounting flexfields for subledger transactions in Oracle Fusion Applications. TAB replaces prior account generator solutions and provides a more flexible and configurable way to default transaction accounts. The key building blocks of TAB include Transaction Account Definitions, Transaction Account Types, Account Rules, Mapping Sets, and Sources. Seeded TAB setup and configuration options are also described to help customers understand how TAB can be used to meet their specific account defaulting requirements.
This document provides an overview of Oracle Assets management and outlines the steps to set up Oracle Fixed Assets, including:
1. Creating an assets responsibility and assigning it to the IVAS11 user for setup
2. Defining profile values such as the GL ledger set and operating unit for the IVAS purchasing responsibility
3. Setting the GL ledger name profile option to 'ivas ledger' at the responsibility level for the IVAS_FixedAssets responsibility
Oracle Fusion Applications Accounts PayablesBerry Clemens
This document outlines the terms and conditions for use of Oracle's online training materials. It states that Oracle allows its business partners to download and copy the materials for internal training purposes only, and that the materials cannot be resold, redistributed, or used to create derivative works. The document also disclaims any warranties regarding the accuracy or completeness of the materials and states that Oracle will not be liable for any loss or damage resulting from use of the materials. Partners must agree to indemnify Oracle from any actions or claims arising from their use of the materials.
1) The document discusses tips for coping with intercompany invoicing in Oracle EBS, including reconciliation, scheduling concurrent programs daily, adding descriptions, monitoring for errors, and controlling the valuation cutoff date.
2) It recommends creating a Discoverer worksheet to reconcile intercompany payables and receivables invoices.
3) Scheduling the four required concurrent programs daily helps detect errors quicker than running them monthly.
R12 introduced a new Legal Entity architecture that separates the legal and operational aspects of an organization. The key changes include:
- Legal Entities are now distinct from Operating Units and can be mapped to multiple balancing segment values and ledgers. This allows companies to better model multi-entity structures.
- Legal Entity Configurator centralizes the setup and maintenance of legal entities, establishments, registrations, and other legal attributes.
- Legal associations link legal constructs like entities and establishments to business entities and enable tax calculations.
- The new design aims to better address legal requirements like local registrations and intercompany transactions between separate legal entities.
The document outlines the steps to close an accounting period in Oracle Assets, which includes running depreciation, creating journal entries, reconciling with the general ledger, and optionally archiving and purging old data. Key steps are to ensure all transactions are entered, run depreciation which will close the period, create journal entries, review and post them, then reconcile various reports between Oracle Assets and the general ledger.
Oracle Project Costing is a solution for effectively managing project costs and accounting. It integrates with purchasing, payroll, accounts payable, and other modules to collect costs, then allows users to track costs, monitor project performance, and account for total business costs. Key capabilities include defining project classes, establishing budgets, collecting and distributing costs, and integrating costs with the general ledger for financial reporting.
This document provides an overview of Oracle Asset Management, describing the overall asset management process from setup through asset data flow to the general ledger. It identifies the key areas and functionalities within Oracle Asset Management, including asset additions, transfers, adjustments, retirements, depreciation, journal entries, reports, and integration with other Oracle applications. It also summarizes the asset lifecycle and implementation steps for Oracle Assets.
This document discusses Oracle's Transaction Account Builder (TAB) which is used to derive accounting flexfields for subledger transactions in Oracle Fusion Applications. TAB replaces prior account generator solutions and provides a more flexible and configurable way to default transaction accounts. The key building blocks of TAB include Transaction Account Definitions, Transaction Account Types, Account Rules, Mapping Sets, and Sources. Seeded TAB setup and configuration options are also described to help customers understand how TAB can be used to meet their specific account defaulting requirements.
This document provides an overview of Oracle Assets management and outlines the steps to set up Oracle Fixed Assets, including:
1. Creating an assets responsibility and assigning it to the IVAS11 user for setup
2. Defining profile values such as the GL ledger set and operating unit for the IVAS purchasing responsibility
3. Setting the GL ledger name profile option to 'ivas ledger' at the responsibility level for the IVAS_FixedAssets responsibility
Oracle Fusion Applications Accounts PayablesBerry Clemens
This document outlines the terms and conditions for use of Oracle's online training materials. It states that Oracle allows its business partners to download and copy the materials for internal training purposes only, and that the materials cannot be resold, redistributed, or used to create derivative works. The document also disclaims any warranties regarding the accuracy or completeness of the materials and states that Oracle will not be liable for any loss or damage resulting from use of the materials. Partners must agree to indemnify Oracle from any actions or claims arising from their use of the materials.
1) The document discusses tips for coping with intercompany invoicing in Oracle EBS, including reconciliation, scheduling concurrent programs daily, adding descriptions, monitoring for errors, and controlling the valuation cutoff date.
2) It recommends creating a Discoverer worksheet to reconcile intercompany payables and receivables invoices.
3) Scheduling the four required concurrent programs daily helps detect errors quicker than running them monthly.
R12 introduced a new Legal Entity architecture that separates the legal and operational aspects of an organization. The key changes include:
- Legal Entities are now distinct from Operating Units and can be mapped to multiple balancing segment values and ledgers. This allows companies to better model multi-entity structures.
- Legal Entity Configurator centralizes the setup and maintenance of legal entities, establishments, registrations, and other legal attributes.
- Legal associations link legal constructs like entities and establishments to business entities and enable tax calculations.
- The new design aims to better address legal requirements like local registrations and intercompany transactions between separate legal entities.
This document describes an accounts payable process that includes the following key steps:
1. Enter and validate supplier invoices
2. Create accounting entries for the invoices in the subledger system
3. Transfer the accounting information to the general ledger
The process allows companies to enter invoices from suppliers, validate the information, record the invoice details in the accounting system, and post the results to the general ledger to record the financial impact. It provides an automated way to manage and pay supplier invoices while ensuring proper recording in the financial books of record.
Oracle ERP Cloud provides guidance on period close procedures for Oracle Cloud modules including Financials, Procurement, Projects, Inventory, and Payroll. This includes:
1. Closing subledger applications like Payables before Inventory to ensure accurate accrual entries.
2. Using Subledger Accounting to create accounting entries for subledger transactions and transfer them to the General Ledger.
3. Specific cash management procedures including loading bank statements, reconciling transactions, resolving exceptions, creating accounting entries, and reconciling cash balances.
Encumbrance accounting in oracle ebs r12Sam Elrashedy
This document provides an overview of encumbrance accounting in Oracle EBS R12. It discusses the purpose and key concepts of encumbrance accounting. It also describes the setup required in Oracle General Ledger, Purchasing, and Payables modules. Finally, it outlines the encumbrance accounting process and year-end activities.
Here are the key steps the Accrual Diagnostics script performs to help troubleshoot reconciliation issues:
1. It spools data from key accrual related tables like cst_reconciliation_build, cst_reconciliation_summary, cst_ap_po_reconciliation, cst_misc_reconciliation, gl_je_headers, gl_je_lines etc to an HTML file based on the input parameters provided.
2. It calculates the accrual balance in GL for Cost Management transactions by summing amounts from gl_je_lines for the given ledger, operating unit, accrual account and date range.
3. It calculates the accrual balance in subledger by summing amounts from c
Release 12 of Oracle Assets introduces several new features including integrated sub-ledger accounting, enhanced mass additions for legacy conversions, automatic preparation of mass additions, XML-based flexible reporting, automatic depreciation rollback, and enhanced functionality for the energy industry. It allows setup and use of the new features in Oracle Assets Release 12.
This is a case study of an actual Cash Basis Secondary Ledger implementation. Oracle has introduced Secondary Ledgers functionality which allow a different accounting method such as Cash Basis and IFRS. This session
will take an in-depth look into the Secondary Ledger functionality in Oracle R12. The challenges presented by
legacy systems, the unique design of the SubLedger Accounting rules to meet those challenges and the
lessons learned will be discussed in detail.
The document provides answers to frequently asked questions about accrual accounting in Oracle Purchasing. It defines the differences between "accrue on receipt" and "accrue at period end", explaining that inventory items are always accrued on receipt while expense items can be accrued either way. It also discusses which reports should be used to review different types of accruals and how to remove records from accrual reports.
During this webcast you will learn:
* E-Business Suite allows budgets to be managed in the same way as normal transactions, for each unique combination of your Chart of Accounts.
* Use summary accounts or rollup groups to manage and maintain.
* General Ledger gives you a variety of tools to create, maintain, and track your budgets, including the ability to upload budget amounts from your spreadsheet software.
Agenda:
- Understand Budget Accounting Cycle
- Use Various Budget Methods
- Budgets and Budgets Organizations
- Manual Budgets
- Effective use of Budget Upload Via Web ADI
- Create Budgets and Maintain Budgets
- Review and correct budgets
- Freeze Budgets
- Reports on budgets
- Q & A Session
Oracle Fusion Payables allows users to create invoices, process payments, and manage vendor transactions more efficiently. Key features include an enhanced user interface, invoice creation through scanned images, configurable dashboards, and integration of features from Oracle's other applications. The document outlines the setup and configuration options for invoices, payments, payment terms, and payment process requests in Oracle Fusion Payables.
The document provides instructions for setting up Oracle Payables including:
1. Defining financial and payables options such as default accounts, payment terms, and taxes.
2. Creating a payables responsibility and attaching it to a user to allow access to payables functions.
3. Attaching the required GL ledger set, operating unit, and expense reimbursement profile options to the payables responsibility.
This document provides an overview and instructions for configuring Oracle Fusion Receivables. It discusses key features of Oracle Fusion Financials including embedded reporting, role-based dashboards, and spreadsheet integration. Implementation options and tasks are outlined such as defining the enterprise structure, creating a chart of accounts, and setting up receivables activities, payment terms, and approval limits. Key receivables processes and roles are also summarized.
Oracle E-Business Suite R12.2.6 was released in September 2016 and included several new features and functionality across various modules. Some key updates included a new calendar user interface for timecards, information discovery screens for projects data, enhancements to procurement, asset management, order management, and inventory modules, as well as new HTML5 user interfaces for defining users, responsibilities, and flexfields. The release also contained updates to payroll, service management, and depot repair modules.
This document provides instructions for currency conversion in Oracle Applications General Ledger. It discusses defining conversion rate types, currencies, and entering daily conversion rates to automatically convert transaction amounts entered in foreign currencies to the functional currency. The document outlines the steps to define currencies, enable currencies for use, and define relationships for European Monetary Union currencies. It also describes using the GL_DAILY_RATES_INTERFACE table to automatically load daily conversion rates into General Ledger to avoid corrupting the data.
In Oracle WIP, supply types determine the component supply method for discrete jobs and repetitive schedules. The main supply types are:
1. Operation Pull - Components are pulled once the operation is completed
2. Assembly Pull - Components are pulled once the assembly is completed
3. Push - Components must be manually issued before starting the job
4. Supplier - Used for outsourced processing where no transaction is needed
5. Bulk - Components are displayed but not transacted or backflushed
This document provides an overview of Oracle Financials and its multiple organization functionality. It discusses how a single Oracle installation can support multiple organizations that may use different ledgers and accounting practices. It describes the major features like secure access to relevant data only and accessing operating units through a single responsibility. It also defines the different types of organizations like business groups, ledgers, legal entities, operating units, and inventory organizations and how they relate to each other in a multiple organization structure.
Oracle GL consolidations is used to move financial results from one set of books to another. The most common reason for setting up additional sets of books is to transact business in a different currency. Other reasons for setting up additional sets of books include using a different chart of accounts, operating with a different calendar, or using different document sequences for the same transaction source.
O2 c, p2p accounting entries with india localizationPritesh Mogane
1. The document describes the procure-to-pay and order-to-cash cycles including key steps like creating purchase orders and invoices, making payments, and processing receipts.
2. It outlines the accounting entries for each step of the cycles both with and without localization considerations for India including duties like excise and VAT.
3. Setup steps are also summarized for both the payables and receivables sides involving options for accounts, taxes, payment and receipt processing.
This document provides an overview and tutorial on using Oracle Report Manager in R12. It discusses the presenter's background and objectives of the session. Key features of Report Manager are outlined, including how it provides an online repository for financial reports. The document then provides a case study example and goes through setting up Report Manager and a quick tutorial on creating a template, submitting a report, and viewing outputs. It concludes with tips, tricks and potential traps to be aware of when using Report Manager.
Unleashing the Power of R12: The Mechanics of Ledger Sets and Secondary Ledgerseprentise
Of the new features in Oracle E-Business Suite R12, the most powerful are ledger sets and secondary ledgers. Taken together, these features have the capability of eliminating thousands of spreadsheets and wasted staff hours. This article explores briefly the functionality of ledger sets and secondary ledgers.
View the original Blog post: http://www.eprentise.com/blog/r12/unleashing-the-power-of-r12-the-mechanics-of-ledger-sets-and-secondary-ledgers/
Website: www.eprentise.com
Twitter: @eprentise
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Ensure your data is Complete, Consistent, and Correct by using eprentise software to transform your Oracle® E-Business Suite.
FulcrumWay - Ed. Webinar - Oracle EBS R12 General Ledger Configurations to En...FulcrumWay
This Education Webinar presentation was to learn how Oracle EBS R12 General Ledger Configurations Ensure Reliable Financial Statements in 2015. Most Oracle ERP customers rely on user security, setups and workflows in Oracle E-Business Suite to ensure effective controls over the financial close process. However, if these configurations in the production instance are not configured according to the approved design (BR-100), the financial results can be unreliable. For example, a journal source may be “unfrozen” to correct a failed interface record or a key flex field security rule, approved during implementation user acceptance phase, may not be the same as the production instance. This presentation educates how to address these situations.
This presentation addressed:
• Oracle General Ledge Controls Overview
• Configurations that impact financial close
• Assessment Approach for Oracle EBS Controls
• Oracle Advanced Controls – A Case Study
• Q&A
This document describes an accounts payable process that includes the following key steps:
1. Enter and validate supplier invoices
2. Create accounting entries for the invoices in the subledger system
3. Transfer the accounting information to the general ledger
The process allows companies to enter invoices from suppliers, validate the information, record the invoice details in the accounting system, and post the results to the general ledger to record the financial impact. It provides an automated way to manage and pay supplier invoices while ensuring proper recording in the financial books of record.
Oracle ERP Cloud provides guidance on period close procedures for Oracle Cloud modules including Financials, Procurement, Projects, Inventory, and Payroll. This includes:
1. Closing subledger applications like Payables before Inventory to ensure accurate accrual entries.
2. Using Subledger Accounting to create accounting entries for subledger transactions and transfer them to the General Ledger.
3. Specific cash management procedures including loading bank statements, reconciling transactions, resolving exceptions, creating accounting entries, and reconciling cash balances.
Encumbrance accounting in oracle ebs r12Sam Elrashedy
This document provides an overview of encumbrance accounting in Oracle EBS R12. It discusses the purpose and key concepts of encumbrance accounting. It also describes the setup required in Oracle General Ledger, Purchasing, and Payables modules. Finally, it outlines the encumbrance accounting process and year-end activities.
Here are the key steps the Accrual Diagnostics script performs to help troubleshoot reconciliation issues:
1. It spools data from key accrual related tables like cst_reconciliation_build, cst_reconciliation_summary, cst_ap_po_reconciliation, cst_misc_reconciliation, gl_je_headers, gl_je_lines etc to an HTML file based on the input parameters provided.
2. It calculates the accrual balance in GL for Cost Management transactions by summing amounts from gl_je_lines for the given ledger, operating unit, accrual account and date range.
3. It calculates the accrual balance in subledger by summing amounts from c
Release 12 of Oracle Assets introduces several new features including integrated sub-ledger accounting, enhanced mass additions for legacy conversions, automatic preparation of mass additions, XML-based flexible reporting, automatic depreciation rollback, and enhanced functionality for the energy industry. It allows setup and use of the new features in Oracle Assets Release 12.
This is a case study of an actual Cash Basis Secondary Ledger implementation. Oracle has introduced Secondary Ledgers functionality which allow a different accounting method such as Cash Basis and IFRS. This session
will take an in-depth look into the Secondary Ledger functionality in Oracle R12. The challenges presented by
legacy systems, the unique design of the SubLedger Accounting rules to meet those challenges and the
lessons learned will be discussed in detail.
The document provides answers to frequently asked questions about accrual accounting in Oracle Purchasing. It defines the differences between "accrue on receipt" and "accrue at period end", explaining that inventory items are always accrued on receipt while expense items can be accrued either way. It also discusses which reports should be used to review different types of accruals and how to remove records from accrual reports.
During this webcast you will learn:
* E-Business Suite allows budgets to be managed in the same way as normal transactions, for each unique combination of your Chart of Accounts.
* Use summary accounts or rollup groups to manage and maintain.
* General Ledger gives you a variety of tools to create, maintain, and track your budgets, including the ability to upload budget amounts from your spreadsheet software.
Agenda:
- Understand Budget Accounting Cycle
- Use Various Budget Methods
- Budgets and Budgets Organizations
- Manual Budgets
- Effective use of Budget Upload Via Web ADI
- Create Budgets and Maintain Budgets
- Review and correct budgets
- Freeze Budgets
- Reports on budgets
- Q & A Session
Oracle Fusion Payables allows users to create invoices, process payments, and manage vendor transactions more efficiently. Key features include an enhanced user interface, invoice creation through scanned images, configurable dashboards, and integration of features from Oracle's other applications. The document outlines the setup and configuration options for invoices, payments, payment terms, and payment process requests in Oracle Fusion Payables.
The document provides instructions for setting up Oracle Payables including:
1. Defining financial and payables options such as default accounts, payment terms, and taxes.
2. Creating a payables responsibility and attaching it to a user to allow access to payables functions.
3. Attaching the required GL ledger set, operating unit, and expense reimbursement profile options to the payables responsibility.
This document provides an overview and instructions for configuring Oracle Fusion Receivables. It discusses key features of Oracle Fusion Financials including embedded reporting, role-based dashboards, and spreadsheet integration. Implementation options and tasks are outlined such as defining the enterprise structure, creating a chart of accounts, and setting up receivables activities, payment terms, and approval limits. Key receivables processes and roles are also summarized.
Oracle E-Business Suite R12.2.6 was released in September 2016 and included several new features and functionality across various modules. Some key updates included a new calendar user interface for timecards, information discovery screens for projects data, enhancements to procurement, asset management, order management, and inventory modules, as well as new HTML5 user interfaces for defining users, responsibilities, and flexfields. The release also contained updates to payroll, service management, and depot repair modules.
This document provides instructions for currency conversion in Oracle Applications General Ledger. It discusses defining conversion rate types, currencies, and entering daily conversion rates to automatically convert transaction amounts entered in foreign currencies to the functional currency. The document outlines the steps to define currencies, enable currencies for use, and define relationships for European Monetary Union currencies. It also describes using the GL_DAILY_RATES_INTERFACE table to automatically load daily conversion rates into General Ledger to avoid corrupting the data.
In Oracle WIP, supply types determine the component supply method for discrete jobs and repetitive schedules. The main supply types are:
1. Operation Pull - Components are pulled once the operation is completed
2. Assembly Pull - Components are pulled once the assembly is completed
3. Push - Components must be manually issued before starting the job
4. Supplier - Used for outsourced processing where no transaction is needed
5. Bulk - Components are displayed but not transacted or backflushed
This document provides an overview of Oracle Financials and its multiple organization functionality. It discusses how a single Oracle installation can support multiple organizations that may use different ledgers and accounting practices. It describes the major features like secure access to relevant data only and accessing operating units through a single responsibility. It also defines the different types of organizations like business groups, ledgers, legal entities, operating units, and inventory organizations and how they relate to each other in a multiple organization structure.
Oracle GL consolidations is used to move financial results from one set of books to another. The most common reason for setting up additional sets of books is to transact business in a different currency. Other reasons for setting up additional sets of books include using a different chart of accounts, operating with a different calendar, or using different document sequences for the same transaction source.
O2 c, p2p accounting entries with india localizationPritesh Mogane
1. The document describes the procure-to-pay and order-to-cash cycles including key steps like creating purchase orders and invoices, making payments, and processing receipts.
2. It outlines the accounting entries for each step of the cycles both with and without localization considerations for India including duties like excise and VAT.
3. Setup steps are also summarized for both the payables and receivables sides involving options for accounts, taxes, payment and receipt processing.
This document provides an overview and tutorial on using Oracle Report Manager in R12. It discusses the presenter's background and objectives of the session. Key features of Report Manager are outlined, including how it provides an online repository for financial reports. The document then provides a case study example and goes through setting up Report Manager and a quick tutorial on creating a template, submitting a report, and viewing outputs. It concludes with tips, tricks and potential traps to be aware of when using Report Manager.
Unleashing the Power of R12: The Mechanics of Ledger Sets and Secondary Ledgerseprentise
Of the new features in Oracle E-Business Suite R12, the most powerful are ledger sets and secondary ledgers. Taken together, these features have the capability of eliminating thousands of spreadsheets and wasted staff hours. This article explores briefly the functionality of ledger sets and secondary ledgers.
View the original Blog post: http://www.eprentise.com/blog/r12/unleashing-the-power-of-r12-the-mechanics-of-ledger-sets-and-secondary-ledgers/
Website: www.eprentise.com
Twitter: @eprentise
Google+: https://plus.google.com/u/0/+Eprentise/posts
Facebook: https://www.facebook.com/eprentise
Ensure your data is Complete, Consistent, and Correct by using eprentise software to transform your Oracle® E-Business Suite.
FulcrumWay - Ed. Webinar - Oracle EBS R12 General Ledger Configurations to En...FulcrumWay
This Education Webinar presentation was to learn how Oracle EBS R12 General Ledger Configurations Ensure Reliable Financial Statements in 2015. Most Oracle ERP customers rely on user security, setups and workflows in Oracle E-Business Suite to ensure effective controls over the financial close process. However, if these configurations in the production instance are not configured according to the approved design (BR-100), the financial results can be unreliable. For example, a journal source may be “unfrozen” to correct a failed interface record or a key flex field security rule, approved during implementation user acceptance phase, may not be the same as the production instance. This presentation educates how to address these situations.
This presentation addressed:
• Oracle General Ledge Controls Overview
• Configurations that impact financial close
• Assessment Approach for Oracle EBS Controls
• Oracle Advanced Controls – A Case Study
• Q&A
Webinar jan 28 2016 learn to improve period-end close process with effecti...Adil Khan
Oracle EBS customers rely on user security, system configuration, profile options and workflows to ensure effective controls over the financial close process. However, these controls can become ineffective over time with unintended system updates through patching, unauthorized change to system configuration and unapproved user access to sensitive functions.
In this training session you will learn to test key financial controls in Oracle EBS, to eliminate the errors and bottlenecks that can slow down your close activities and can also cause unreliable financial results.
Oracle Applications Period Closing Processes HumtvAttiq Ahmed
The document discusses the Oracle Payables period closing process which includes 7 key steps: 1) Complete all transactions for the period, 2) Review amounts to post to general ledger, 3) Review posting process, 4) Submit unaccounted transactions sweep, 5) Close current period, 6) Run mass additions transfer to Oracle Assets, and 7) Open next period. The goal is to establish cut-off dates, notify users, reconcile accounts, post transactions, resolve issues, and transfer data to associated modules to close one period and begin the next.
Welcome to HWM Technologies CC RecIT OverviewAndre Aysen
RecIT! is a reconciliation tool designed for Sage ACCPAC accounting software. It automates the reconciliation process between general ledgers and associated sub-ledgers like accounts receivable, accounts payable, and inventory. This process is currently manual and time-consuming. RecIT! identifies discrepancies between ledger entries and provides reports on reconciled and unreconciled items to help users analyze problems. It reduces the time and costs associated with reconciliation and validation work.
The Cloud Portfolio was created to bring all of your financial reporting needs under one umbrella. The portfolio contains all the essential financial information you would need to fulfill your SAS 115 requirements. Moreover, it is accessible from any device with an internet connection which allows the financial reporting team to achieve Berkeley's ambitious sustainability efforts.
FulcrumWay - Leverage Advanced Controls for EBS R12 to Streamline Record to R...FulcrumWay
This was presented on March 18, 2014 in FulcrumWay's monthly Webinar sessions, which occur on the 3rd Tuesday of every month. Anyone may attend, just go to http://www.fulcrumway.com/events/upcoming-events for details. Hope to see you there!!
This presentation addresses:
Top Financial Close Challenges in EBS R12
Overview of Financial Controls
Advanced Controls for Record to Report
Case Study
This document outlines the key steps in the reconciliation (R2R) process:
1. Reconciliation begins after the accounting period has closed and transaction posting has ceased. Ledger balances are uploaded to the reconciliation platform.
2. The reconciliation analyst reconciles the ledger balances with supportable transaction balances from the period. Any differences between the two are identified as variances.
3. Transactions are verified for accuracy and compliance with accounting policies. Rectification entries may be posted.
4. Variances are aged and action plans documented according to reconciliation guidelines.
5. Reconciliations are reviewed and approved hierarchically before being finalized. Follow-up actions are taken to resolve open items
This document summarizes the experiences of implementing Oracle E-Business Suite R12.1 for a global company. Key points include:
The company upgraded to R12.1 to gain improved functionality, standardization, and support. They chose to do a full reimplementation over multiple upgrades. The project timeline was aggressive but they used tools like Oracle Business Accelerators to help meet deadlines.
The company designed their chart of accounts and accounting setup to support statutory requirements in different countries while keeping a global structure. They also implemented multiple currency and tax functionality.
Thorough training, communication, change management and post go-live support were emphasized to ensure a successful transition. Challenges around timelines, local
This guide shows how to design and implement processes for the cost management of construction projects. It is an interactive workbook that follows the main steps of conceptualising a cost management system. In this way, the required elements for a subsequent software implementation can be gathered straight away. The guide was created collaboratively by CONJECT AG and me. I provided idea and content, CONJECT AG took care of design and realisation.
EBS Answers Webinar Series - Secondary Ledgers: Benefits of Adjustment Ledger...eprentise
Preparing adjusting entries usually involves a lot of journal entries, staff input and tedious work. Not anymore. As a more efficient processing of adjustments, adjustment-only secondary ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
This document provides guidance on best practices for implementing Oracle Accounting Hub Cloud. It covers key considerations for requirements gathering, architecture, testing, historical conversion, go-live, and post go-live operations. It also provides recommendations for functional design aspects like enterprise structures, source systems, accounting rules, journal line rules, mapping sets, and supporting references. Implementation teams are advised to thoroughly plan requirements, use a phased approach, engage system integrators, and focus on streamlining the design. Thorough testing of all flows and performance benchmarking is also emphasized.
Flows in the Service Console, Gotta Go with the Flow! by Duncan StewartSalesforce Admins
The document discusses using Salesforce Flow in the Service Console to simplify case management processes for technical support and logistics teams. It describes how custom objects and flows can be used to capture more detailed information for different teams while minimizing back-and-forth. The solution involves using the Service Console, custom objects to store additional details, and Visual Workflow to guide users through the process. Key points covered include how to update cases from flows while allowing users to still edit case details, and addressing timing issues when updating records from flows.
Kevin Holland has over 20 years of experience implementing and supporting Oracle E-Business Suite applications. He has worked on numerous system upgrades, implementations, and production support projects for companies across various industries. His experience spans Oracle E-Business Suite releases 9i through R12 and he has extensive knowledge of the Financials, Procurement, and Project Accounting modules.
Under the Covers with Subledger Accountingeprentise
The major change in R12 is that there are no Sets of Books. Instead, there are subledgers that handle the transaction processing from other modules (AP, AR, FA, etc.).
View the original Blog post: http://www.eprentise.com/blog/r12/under-the-covers-with-subledger-accounting/
Website: www.eprentise.com
Twitter: @eprentise
Google+: https://plus.google.com/u/0/+Eprentise/posts
Facebook: https://www.facebook.com/eprentise
Ensure your data is Complete, Consistent, and Correct by using eprentise software to transform your Oracle® E-Business Suite.
This document provides an overview of the new Oracle Subledger Accounting (SLA) features in Oracle Release 12. SLA is a rules-based accounting engine that allows generating multiple accounting representations for a single business event. It provides a common data model and UI across subledgers to replace disparate 11i setups. SLA generates accounting for Oracle E-Business Suite modules and provides services like detailed accounting entries, subledger reporting and storage of subledger balances.
Reconcile Your Inventory to G/L Balances With Ease, From 1 to 1,000 Inventory Organizations.
Understand how to reconcile inventory, WIP and receiving ■ Resolve common reconciliation issues ■ Learn how to use standard and custom tools for reconciliation ■ Discuss ways to use “hidden” information to systematically reconcile your G/L to perpetual inventory balances
Inventory Reconciliation ▪ General Reconciliation Principles ▪ Standard Reconciliation Steps ▪ Common Reconciliation Challenges ▪ Custom Solution
New gl q_sands_presentations_whitepapersImran M Arab
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How to efficiently handle period-close process in Oracle EBS R12.pdf
1. Session ID:
Prepared by:
How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
10081
Anpu Rajaratnam, Cree Inc.
2. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Presenter Information
Name: Anpu Rajaratnam
Title: IT Architect (Finance)
Company: Cree, Inc.
Brief: A seasoned solution architect and Oracle Finance
Expert with many years of professional experience in
information technology and Oracle EBS.
Credentials: C.Eng., MASCE, PMP, CPA, CGMA, FCMA, OCP, OCE
3. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Company Information
Cree is a market-leading innovator of lighting-class LEDs,
LED lighting, and semiconductor solutions for wireless and
power applications.
www.cree.com
4. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Abstract
In this session, audience will learn the details for the
importance of period and year-end close, recommended
sequence of subledgers close, insights, and guidance on
period-end procedures. This article provides guidance on
the period-end close procedures across Financials,
Manufacturing, Procurement, Projects, and Inventory. This
paper will examine the critical components, issues, and
best practices on period-close.
5. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Presentation Objectives
oTo understand the importance of period-close process
oTo understand that in Oracle EBS R12, period close is possible only
at ledger level and not at operating unit.
oTo learn that in Oracle EBS R12, inventory period close is possible
by either at individual or multiple inventory organization level.
oTo understand the recommended sequence of subledgers close
and dependencies.
oTo understand the importance of year-end close process.
oTo examine the critical components, issues, and best practices of
the period-close.
6. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Document Note
o This document is written for all cases whether Oracle EBS R12 is implemented for a
single operating unit under one ledger or multiple operating units under single
ledger or single/multiple operating units under multiple ledgers.
o This documents provides the details for the recommended sequence of subledgers
close, insights of closing process, and guidance on period-end procedures.
o It is not the intention of this paper to provide a complete details including all the
detail steps for each subledger application close and GL Close, and instead this
paper will examine the importance, sequence, critical components, issues, and best
practices of the period-close.
o This paper examines and will include Oracle Lease and Finance Management, Oracle
Cash Management, Oracle Treasury, Oracle Payables, Oracle Purchasing, Oracle
Order Management, Oracle Receivables, Oracle Assets, Oracle Projects, Oracle Cost
Management, Oracle WIP, Oracle Inventory, and Oracle General Ledger as part of
period-close.
o This document intends to provide a reference for planning period-end close process
for ‘real-life’ implementations.
7. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
Importance of period-close process
8. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Importance of Period-Close Process
o Every Oracle EBS customer needs to successfully close their ledgers each period.
However, often this process becomes complex and difficult to handle, and therefore
proper understanding and streamlining this process to have an effective period-
close becomes very critical.
o Closing is the process of completeness of transaction processing and accounting for
all transactions at the end of each period so all accounting information is transferred
to the General Ledger.
o Subledgers cannot be closed if the required transactions in that period are not
processed, accounted, and transferred. Subledgers are E-Business Applications that
transfer accounting records to the General Ledger - for example, Payables,
Receivables, Purchasing, Inventory, etc.
o By period-close we ensure that all transactions are accounted and accounting
information is transferred to General Ledger. If we don’t do the period-close then we
are not using and/or missing the available system functionality to confirm all
subledger transactions are accounted and transferred to General Ledger.
o If we don’t close the subledger period then new transactions can be effected in past
periods and this will invalidate the already accounted and reported results in
General Ledger.
9. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Importance of Period-Close Process
o Although this document particularly refers to ‘Period-End Close Procedures’,
many of these procedures or processes within each application can be
performed more regularly throughout the accounting period as required. Each
application provides its own control as to when and how often data is
transferred from the application to the General Ledger.
o Is period-close is mandatory for all Oracle Sub-ledgers and General Ledger?
Technically period-close is not a mandatory task.
By period-close, we ensure required controls are in place and met and once a
period is closed system will not allow any new transactions. This ensures only
transactions and journals for the period are processed, recorded, and reported.
The key is that once results are reported then transactions and accounting need to
be frozen for that period, and this can be better achieved through period-close
process.
10. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Importance of Period-Close Process
o What would be the disadvantages and/or inefficiencies if the ‘inventory periods
are not closed’?
The control of disallowing the transactions for prior period is taken out, and this will
cause issues in the reconciliation issues between Oracle General Ledger and Oracle
Inventory.
This will allow the unprocessed and invalid transactions to stay, and this will
accumulate over the period of time and at one point the issue may become as
extreme and uncontrollable.
We will not able to confidently report on inventory transactions and accounting.
When a change to an existing transaction or new transaction is effected in a prior
period and transferred to Oracle General Ledger this will invalidate the
reconciliation performed between Oracle Inventory and published General Ledger
results, and this is critically an inefficient way to manage accounting. Any changes
must be handled through the current period so that this is not disturbing the prior
periods accounting.
11. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Period-Close Process: Secondary Ledger
and Reporting Currency Ledger
o If you run Create Accounting program, it will post data in Primary Ledger as well
as in Secondary Ledger (subledger or journal level) and Reporting Currency
Ledger (subledger or journal level)
o If Secondary Ledgers are used then period-close for the Secondary Ledger
should be taken place after the period-close of primary-ledger. The same is
applicable to Reporting-Currency Ledgers. This means, as far as closing is
concerned, you need to close primary, secondary, and reporting ledgers
separately.
o If you close Secondary Ledger first and then either allow transaction processing
in the Primary Ledger and/or directly enter journals and post in Primary Ledger
this will lead to an error (Error31 - Unopened Secondary Ledger Period). If
period is reopened in Primary ledger while the same period in the Secondary
Ledger is closed, this will again lead to an error (Error31 - Unopened Secondary
Ledger Period).
12. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Subledger Accounting Close Process
Following are the general guidelines to perform the period-close
process for every subledger:
1. Complete transactions
2. Create accounting
3. Reconcile transactions
4. Post to General Ledger
5. Reconcile accounting
6. Close period
The important thing to note, is that the accounting is not the accounting
distribution on the transaction. The final accounting by SLA could result in
different accounting entries being generated based on the accounting rules you
have configured. Therefore, you need to ensure that all your accounting for your
transactions is created before you post to GL, in order to update the accounting
balances correctly.
13. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Overview of Oracle EBS Accounting
In Oracle EBS R12, distributions on transactions in subledgers are
considered to be the default accounting and therefore should not be
used for reconciliation purposes. The reason is that SLA enables you
to change the accounting for transactions so it is different from the
default accounting. Therefore, the subledger accounting becomes
the single source of truth for accounting reconciliations.
14. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Sub Ledger Accounting – Process Change
Differences between R11i and R12
15. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Sub Ledger Accounting – Process Change
The subledger accounting journal represents your real accounting
and the balancing lines are created as part of these subledger
accounting journals. The journals can then be posted to the general
ledger to update the GL balances.
A period-close for a subledger for a period essentially means that the
subledger accounting for that subledger is closed for the selected
period.
16. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Subledger Accounting – Reconciliation
• In Oracle EBS R12, there is no reason to reconcile distributions on
transactions to the GL, and this is because the accounting
reconciliation should be between SLA Data and GL Data and not
between transaction data and GL Data. You can still reconcile
transaction reports to accounting reports.
• The new accounting reports in Release 12 now also contain more
comprehensive information, and not just on balances but also on
suppliers, customers and transactions.
• The main point to note is that when you do account balance
reconciliation, you should ignore distributions in Release 12,
especially if you have altered your subledger accounting rules.
17. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
Oracle EBS R12 Period-Close is at Ledger Level
18. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Period-Close is at Ledger Level
• In Oracle EBS R12, period close is possible only at ledger level and as such
period-close works at all the ledger associated operating units and not at the
individual Operating Unit (OU) for applications based at OU.
• If a Ledger is associated with more than one Operating Unit then all Operating
Units under this Ledger must be completed for period-close activities and
therefore must be ready to close the Ledger at the same time.
• All of the operating units that share a ledger also share the same period status.
When you update the period statuses to ‘Open’ in one operating unit, that
period is opened for all operating units within the ledger.
• There is an enhancement for this (Bug 7154359 – Close periods for OU of same
Ledger separately) and is under review by product management and it is still at
pending or work-in-progress stage as of writing this document.
• General Ledger Period Close for multiple ledgers can be performed
simultaneously by using a Ledger Set.
19. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Period-Close: Possible Cases
Case Ledger Operating Unit Subledger Period-Close Process
1 Single Single OU Ledger level, for single Ledger
2 Single Multiple OU Ledger level, for single Ledger
3 Multiple Single OU per
Ledger
Ledger level, for each Ledger
4 Multiple Multiple OU per
Ledger
Ledger level, for each Ledger
20. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Period-Close: Possible Cases
o When single ledger with single operating unit is in place, period-close will
only need to be performed for that ledger.
o When single ledger with multiple operating units is in place, period-close
will need to be performed for only that ledger.
o When multiple ledgers with single operating unit per ledger is in place,
period-close will need to be performed for each ledger.
o When multiple ledgers with multiple operating units per ledger are in
place, period-close will need to be performed for each ledger.
o Subledger Period Close Exceptions Report can be run for multiple ledgers
by using Ledger Set for any subledger. This report is also called by the
Period Close Validation Program to extract all those events which are either
not transferred or are not accounted for.
o General Ledger ‘Open Period’ and ‘Periods - Close Period’ programs can be
run for multiple ledgers in a single run by using a Ledger Set.
21. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
In R12, inventory period close is possible by either
at individual or multiple inventory organization
22. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Close Inventory Period:
Closing Multiple Inventory Organizations
o Use the Close Period Control program to close a period across
multiple inventory organizations based on a pre-defined organization
hierarchy and by selecting a starting organization. This program will
close the inventory period for the selected starting inventory
organization and all the inventory organizations below it.
o Prerequisite:
Set up a valid Organization Hierarchy in Oracle HRMS that include
all required inventory organizations which need to be part of.
23. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Close Inventory Period:
Closing Multiple Inventory Organizations
o Run Close Period Control program
Parameters:
• Organization Hierarchy: Enter a valid organization hierarchy
name from the list of values. You can choose any organization
hierarchy where all organizations subordinate to the hierarchy
origin share the same item master, calendar and chart of
accounts.
• Starting Organization: Enter a hierarchy origin (Organization) to
execute the program. This starting organization may or may not
have subordinate organizations.
• Close Period From: Enter the list of valid period(s) to close, and
this will be your current inventory period.
• Request Count: Enter the number of requests to actively run at
one time.
24. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Close Inventory Period:
Closing Multiple Inventory Organizations
o Using this functionality will avoid the need to open and close multiple
inventory organizations one by one, and is a very efficient way to
manage the inventory periods.
o To achieve this, an enterprise needs to decide on a single hierarchy or
required number of hierarchies and a starting inventory organization
for each hierarchy. As an example, hierarchy can be:
• At enterprise level
• Based on each primary ledger e.g. One for US Ledger, one for Canada
Ledger etc.
• Based on each LE or OU.
• Based on selected inventory organizations under a Ledger, LE or OU
25. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Closing Multiple Inventory Organizations
Example: Inventory Org Hierarchy 1
IO-100
IO-110
IO-111
IO-120
IO-121
IO-121
IO-130 IO-140
IO-141
IO-142
26. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Closing Multiple Inventory Organizations
Example: Inventory Org Hierarchy 1
o In the above hierarchy, if the Inventory Organization IO-100 is
selected as the origin or starting organization during the Close Period
Control program run the it will close all the subordinate organizations
below it. This means all IO-100, IO-110, IO-111, IO-120, IO-121, IO-
122, IO-130, IO-140, IO-141, and IO-142 will be closed.
o If the Inventory Organization IO-110 is selected as the starting
organization during the Close Period Control program run it will close
all the subordinate organizations below it. This means IO-110 and IO-
111 will be closed.
o If the Inventory Organization IO-130 is selected as the starting
organization during the Close Period Control program run it will close
IO-130 only.
oHere, all organizations subordinate to the hierarchy origin must
share the same item master, calendar and chart of accounts.
27. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Open Inventory Period:
Opening Multiple Inventory Organizations
o Use the Open Period Control program to open a period across multiple inventory
organizations. This program works same as the Close Period Control program
o Prerequisite:
Set up a valid Organization Hierarchy in Oracle HRMS that include all required
inventory organizations which need to be part of. You can use the same hierarchy
that will be used for Closed Period Control program or use a new hierarchy.
o Run Open Period Control program
Parameters:
• Organization Hierarchy: Same as the one used for Close Period Control
program.
• Hierarchy Origin (Starting Organization): Enter a hierarchy origin (Organization)
to execute the program. This starting organization may or may not have
subordinate organizations.
• Number of Periods to Open: Enter the number of periods to open. You can
open the next periods and additional periods for the hierarchy origin
organization, and its subordinate organizations in the organization hierarchy. To
open periods, they must have a Future status.
28. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
Recommended sequence of subledgers close and
dependencies
29. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Period-Close Dependencies:
The following are some considerations and dependencies for an effective period-
close process:
1. Many period-close processes within each subledger can take place in
parallel with other subledgers. For subledger period-close steps and
details please refer the Oracle White Paper ‘Period-End Procedures’
2. Certain steps need to wait for the related subledger period-close, and it is
important to understand this fact. Example: As part of PO Close, Accrual
Reconciliation should happen before PO Period-Close but only after AP
Period-Close.
3. In Release 12, Cost Management becomes an application module holding
Inventory, Receiving, and WIP accounting entries. Therefore accounting
in Cost Management must be completed and transferred to Oracle
General Ledger for these Manufacturing and Procurement Applications.
30. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Period-Close Module Dependencies
Oracle Payables
AP
Oracle
Receivables
AR
Oracle Projects
PA
Oracle Order
Management &
Shipping
OM, WSH
Oracle Cash
Management
CE
Oracle Assets
FA
Oracle Inventory
INV
Oracle
Purchasing
PO
Oracle Treasury
XTR
Oracle General
Ledger
GL
Oracle Lease and
Finance Management
OKL
Period Close Module Dependencies
Oracle Cost
Management
CST
Oracle Work In
Process
WIP
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Period-Close Dependencies:
The following are some restrictions and dependencies on period-close process:
1. Oracle Payables need to be closed before Oracle Purchasing is closed to
account for purchasing accruals at period end.
2. Oracle Payables need to be closed before Oracle Inventory and Oracle
Assets.
3. Oracle Cash Management activities need to be processed and completed
before Oracle Receivables, as bank reconciliation in Cash Management
will create miscellaneous receipts in Oracle Receivables and so forth.
4. Oracle Assets can't be closed before Oracle Payables. This will result in
assets not imported from AP in the correct period.
5. Oracle Receivables shouldn’t be closed its period until all Oracle Projects
invoices have been interfaced to it.
6. Before closing accounting periods in Oracle Inventory, Oracle Receivables
and Oracle Payables, must process all outstanding intercompany
shipments including, but not limited to, posting to Oracle General Ledger
7. Finally, you close all of your subledgers before you close General Ledger.
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Period-Close Sequence:
The period-close procedures can vary between the industries and companies, and
however the major processes and the period close sequence will remain same. It
is beneficial to follow the closing process sequence recommended by Oracle. The
following is the recommended period-close sequence for procedures and close:
1. Oracle Finance and Lease Management
2. Oracle Order Management & Shipping
3. Oracle Cash Management
4. Oracle Treasury
5. Oracle Payables
6. Oracle Receivables
7. Oracle Purchasing
8. Oracle Inventory, Oracle Costing, Oracle WIP
9. Oracle Projects
10. Oracle Assets
11. Oracle General Ledger
Note: Oracle Order Management, Shipping & Execution, Cash Management, Treasury,
Work In Process, and Cost Management applications don’t have their own period.
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Period-Close Sequence:
5. Oracle
Payables
AP
6. Oracle
Receivables
AR
9. Oracle
Projects
PA
2. Oracle Order
Management &
Shipping
OM, WSH
3. Oracle Cash
Management
CE
10. Oracle
Assets
FA
8. Oracle
Inventory
INV
7. Oracle
Purchasing
PO
4. Oracle
Treasury
XTR
11. Oracle
General Ledger
GL
1. Oracle Lease and
Finance Management
OKL
Period Close Sequence
8. Oracle Cost
Management
CST
8. Oracle Work
In Process
WIP
Note: OM, WSH, CE, XTR, WIP, and CST Applications do not have their own period, and
only their related period-close activities need to be performed for these applications. Actual Period Close
Period-Close Activities
34. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
Importance of year-end close process
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Importance of Year-End Close Process
• Many organizations follow specific procedures to generate special journal
entries to close and open fiscal years. These closing entries apply to both the
income statement and balance sheet. Auditable closing procedures vary
considerably, depending on country’s reporting requirements, generally
accepted accounting practices in a country, and organization’s business needs.
• The year-end close process is a mandatory requirement in some countries, and
used to meet their audit requirements.
o Oracle General Ledger is equipped to create actual closing journals for year-end
and other periods. Oracle has provided two programs to accommodate the
year-end-close process, and you can optionally run one or both of these closing
processes, and are:
• Create Income Statement Closing Journals
• Create Balance Sheet Closing Journals
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Importance of Year-End Close Process
o Create Income Statement Closing Journals process systematically creates a journal
entry that shows the revenue and expense account balances moved to the retained
earnings account.
o Create Balance Sheet Closing Journals process systematically creates a journal entry
that closes the balance sheet account balances to zero.
o You can only close actual journals, and you cannot close budget or
encumbrance balances.
o If your organization has multiple legal entities, you can create closing journals
for multiple ledgers simultaneously with ledger sets. You also have added
security through data access sets because you can only run the closing journals
programs against ledgers you have full read and write access to through your
data access set.
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Importance of Year-End Close Process
oTo process year-end closing journals:
Set up the last day of your fiscal year as an adjusting period.
Set up the first day of your next fiscal year as an adjusting period.
Ensure that the adjusting period is open.
Complete your routine accounting before the last day of the fiscal
year.
Complete and post your adjustments and closing entries in the
last adjusting period of the fiscal year.
Print your general ledger trial balance and other month-end
and/or year-end reports.
Define your ledger set if you plan to submit the closing journals
programs for multiple ledgers simultaneously.
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Importance of Year-End Close Process
oTo process year-end closing journals (contd..):
In the last adjusting period of the fiscal year you want to close:
• Run the Create Income Statement Closing Journals process to transfer income
statement year-end account balances of your revenue and expense accounts
to the retained earnings account.
• Run the Create Balance Sheet Closing Journals process to close and zero out
the year-to-date balances of all balance sheet accounts: assets, liabilities, and
owner's equity.
In the first adjusting period of your new fiscal year:
• Run the Open Period program to open the first period of the new year.
• Reverse and post the balance sheet closing journals to reopen those balances.
39. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
Create Income Statement Closing Journals
40. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Year-End Process:
Income Statement Closing Journals
1. General Ledger provides two options for the Income Statement
Closing Journals:
a. Option 1: Income Statement Close Mode
• You can choose to zero out each income statement account, and post
the balance to the retained earnings account.
• When you run the process, and enter Closing Account in the
Parameters window, entries are posted against each revenue and
expense account in the account range processed. It is the reciprocal of
the account's YTD balance and zeroes out each account.
• The amount posted to the retained earnings account is effectively the
net sum of the revenue and expense accounts' YTD balances.
b. Option 2: Income Statement Offset Mode
• Alternatively, you can post the reciprocal of the net income balance to
an income statement offset account instead of zeroing out each
revenue and expense account.
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Year-End Process: Income Statement
Closing Journals
1. General Ledger provides two options for the Income Statement Closing
Journals (contd..):
o Option 2: Income Statement Offset Mode (contd..)
When you run the process, and enter Closing Account and Income Offset
Account in the Parameters window, The revenue and expense accounts
included in the specified account range will not be zeroed out. Instead, the
program will take the net sum of the revenue and expense accounts. This sum
includes the balance in the income statement offset account. It will then post
the reciprocal of the net sum to the income offset account, in the appropriate
debit (DR) or credit (CR) column..
The amount posted to the retained earnings account will be the reciprocal of
the amount posted to the income offset account. This retained earnings
amount will then also be equal to the net sum of the revenue and expense
accounts processed.
Note: For both options, STAT balances will not be processed by the program.
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Year-End Process: Income Statement
Closing Journals
2. Running the Create Income Statement Closing Journals Program:
1. Ensure that the adjusting period you are closing is an open period.
2. Post all revenue and expense adjustment entries to the appropriate periods.
3. Print General Ledger accounting and analysis reports.
4. If you have accounts you want to process that are disabled then temporarily re-
enable the account to post the generated closing journal. The Segment Value
Inheritance program can be used to re-enable and then disable these accounts.
5. Run the close process, Create Income Statement Journals in the adjusting period
you want to close for your ledger or ledger set. The parameters are:
a. Ledger/Ledger Set
b. Period:
c. Account From
d. Account To
e. Closing Account
f. Income Offset Account (optional)
6. Post the Income Statement closing journals to update year-to-date actual balances
or period to date actual balances. If you chose the Income Statement Offset
option, proceed to your next open period.
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Year-End Process: Income Statement
Closing Journals
2. Running the Create Income Statement Closing Journals Program (contd..):
7. If any adjustments for your ledger are required after its income
statement closing journals are posted, reverse and post the original
closing entries, make your adjustments, then rerun the closing process.
8. Run the Open Period program to open the first period of the new fiscal
year. This program closes out all revenue and expense accounts to the
Retained Earnings account. However, because posting of the closing
journals has already zeroed out the revenue and expense accounts to the
Retained Earnings account, there are no balances to transfer and no
further effect on Retained Earnings.
9. If revenue and expense adjustments need to be made after opening the
new fiscal year for your ledger, for accuracy, you must reverse the closing
journals, post, enter your adjustments, run the Create Income Statement
Closing Journals, and post for your ledger.
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Year-End Process: Income Statement
Closing Journals
3. Income Statement Closing Journal Attributes:
a. General Ledger automatically creates a separate journal batch for each
ledger in a ledger set if the closing program is submitted for that ledger
set.
b. The effective date of your closing journal entries is the last day of the
period you specify in the parameters window, typically the adjusting
period on the last day of your fiscal year.
c. The closing journals you generate are marked for reversal in the same
period the journals were generated.
d. General Ledger closes the ledger currency and entered currency balances
with different journal entries within a ledger's journal batch.
45. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
Create Balance Sheet Closing Journals
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Year-End Process: Create Balance Sheet
Closing Journals
1. The Create Balance Sheet Closing Journals process:
• Generates journals that reverse of the debits and credits of the ending year-to-date actual
balances for the period or year that you have selected to close.
• Transfers the balance, which is the net of the reversed asset, liability, and equity accounts, to
the closing account that you specify. Note: Your balance sheet should be balanced if you
completed the Close Process: Create Income Statement Closing Journals to update the retained
earnings account. If the range of balance sheet accounts is balanced, then there is no transfer
of balances.
• Must be run in an open period. The recommended period is the last period of the fiscal year
being closed, which should be an adjusting period.
• To be run in an adjusting period to avoid large balance fluctuations in standard accounting
periods.
2. Running the Create Balance Sheet Closing Journal program:
1. Set up the last day of your fiscal year as an adjusting period.
2. Set up the first day of your next fiscal year as an adjusting period.
3. Ensure that the adjusting period your are closing is an open period.
4. Complete your routine accounting before the last day of the year.
5. Complete and post all adjustment entries related to the period or year you are closing.
6. Print your trial balance, account analysis and other month-end and/or year-end reports.
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Year-End Process: Create Balance Sheet
Closing Journals
2. Running the Create Balance Sheet Closing Journal program (contd..):
7. Run the close process, Create Balance Sheet Closing Journals in the adjusting
period you want to close for your ledger or ledger set. The parameters are:
a. Ledger/Ledger Set
b. Period:
c. Account From
d. Account To
e. Closing Account
f. Income Offset Account (optional)
8. Post the Balance Sheet closing journals to zero-out balance sheet account
balances.
If any adjustments for your ledger are required after its Balance Sheet closing
journals are posted, reverse and post the original closing entries, make your
adjustments, then rerun the closing process.
9. In the first adjusting period of the new fiscal year, reverse the balance sheet
closing journals to repopulate the balance sheet accounts.
10. Post the generated reversing journals.
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Year-End Process: Create Balance Sheet
Closing Journals
3. After running the Create Balance Sheet Closing Journal process in the last
day of the fiscal year:
• Open the next fiscal year by running the Open Period program.
• Reverse and post the balance sheet closing journals to repopulate the balance
sheet accounts.
4. To make adjustments after posting the balance sheet closing journals:
• Reverse the original closing entries and post the reversal.
• Make your adjustments.
• Rerun the closing journal processes to capture the additional adjustments.
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Year-End Process: Create Balance Sheet
Closing Journals
4. Balance Sheet Closing Journal Attributes:
a. Closes only actual balance types, and ignores budget and encumbrance balances.
b. Uses the last day of the period that you select in the parameters window as the
effective date of the closing entries and which is the adjusting period.
c. Creates a separate closing account by Primary Balancing segment.
d. Closing journals are marked for reversal in the period following the period the
closing journals were generated.
e. If you use secondary ledgers or reporting currencies, you must define a conversion
rule to prevent replication of your year-end closing journals from your primary
ledger. Replication can cause unbalanced journal entries if different currencies and
conversion rates are used in the ledgers. Instead, run your closing journal
processes directly in your reporting or secondary ledgers to ensure that the
balances are reduced to zero.
50. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
Critical components, issues, and best practices of
the period-close
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Critical components, issues, and best
practices of the period-close
1. Once a period is closed in Oracle Inventory, it can never be re-opened.
2. Once a period is permanently closed in Oracle Projects or Oracle General Ledger it
can never be re-opened.
3. Use the auto-reversal journal function wherever possible to eliminate manual
interference.
4. Use the control accounts for key customer and supplier accounts to prevent the
manual or ad-hoc journals for these accounts.
5. Do not delete system generated journals at any time, and if required reversed
and post it to have zero effect.
6. Use the Oracle provided standard reconciliation mechanism to reconcile between
Oracle Subledgers and Oracle General Ledger.
7. The Open Account AP Balances Listing replaces the standard R12 Open Balances
Listing Report, and please refer to the My Oracle Support note 604739.1 and
553484.1 for details.
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Critical components, issues, and best
practices of the period-close
8. The sweeping functionality is now available for Oracle Receivables, and refer the
appropriate note for further detail on Unaccounted Transaction Sweep program.
9. AR to GL Reconciliation Report simplifies the reconciliation process by comparing AR
and GL account balances in a single place. Try to take advantage of this report.
10. Third Party Balances Report can be used to display balance and account activity
information for and Customers and Suppliers.
11. Make sure that transaction tax processing, if applicable, is fully completed and ready for
tax reporting.
12. Limit the number of key accounts used in accrual reconciliation (Expense AP Accrual
Account, Inventory AP Accrual Account, Receiving account, Purchase Price Variance
Account, Invoice Price Variance Account, & Exchange Rate Gain or Loss Account).
13. The AP and PO Accrual Reconciliation Report provides a transactional breakdown of
each accrual account with a net balance not equal to zero. The Accrual Reconciliation
Reports are used to analyze un-invoiced receipts, and to reconcile the balance of the AP
accrual accounts, and use these reports effectively.
14. Use caution when setting up the Accrue Expense Items flag to either Period End or
Accrue At Receipt for Expense Items.
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Critical components, issues, and best
practices of the period-close
14. Make sure that the Inventory Accrual (Perpetual), Expense Period-End Accrual,
Expense Perpetual Accrual (if used) processes follow the Oracle recommended
procedures to do a systematic accrual reconciliation with least manual
interference.
15. It is strongly recommended that latest patches for the Accrual Reconciliation Load
Run process be applied. See Doc ID 1490578.1 (Updated on 22-NOV-2016) for a
current list of patches to apply and steps to perform to get the latest fixes.
16. If Oracle Order Management is used, for the order-shipments invoiced in Oracle
Receivables, revenue recognition has been processed in Oracle Receivables and
the accounting entries between ‘Deferred COGS account’ and ‘COGS account’
must be generated in INV-CST. For this purpose two concurrent programs must be
run from either Cost Management – SLA or Cost Management responsibility:
• Collect Revenue Recognition information
• Generate COGS Recognition event
17. If it is an upgrade and if the FA Account Generator Workflow was customized in
11i, and after upgrade the customizations will either have to be re-implemented
using SLA or ‘FA: Use Workflow Account Generation should be set as Yes’. In the
second case workflow will be used to generate accounts.
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Critical components, issues, and best
practices of the period-close
18. There is no separate program in R12 Oracle Assets to perform the rollback in
(which was the case in 11i). Any changes on a depreciated asset will result in
an automatic rollback. Rollback takes place at Asset Level in Release 12
compared to Asset Book level in Release 11i.
19.As of now, there is no integration between Oracle Treasury and Subledger
Accounting (SLA). Treasury sends the journals directly to GL and not via SLA.
20.Maintain period-end and period-average exchange rates for all foreign
currencies to which you want to translate.
21.If you are using Oracle Financials Accounting Hub to generate accounting for
your 3rd party systems, the accounting journal details will automatically by
stored in the XLA tables, prior to being transferred (in summary or detail) and
imported into Oracle General Ledger.
22.Limit or eliminate the use of suspense account. If suspense accounting is not
allowed, Oracle General Ledger will not automatically post out-of-balance
batches
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Critical components, issues, and best
practices of the period-close
23. Consolidation can be performed using Global Consolidation System, Financial
Consolidation Hub or Hyperion Financial Management (HFM) depending on
your need. Global Consolidation System is already licensed within Oracle GL,
and is one go place to do the data transfer, revaluation, translation,
elimination, consolidation, and reporting
24. Consider AGIS (Advanced Global Intercompany System) when there is a need for
journal processing between legal entities and ledgers with journal approval, inter-
company invoicing, and security in place. AGIS is also fully integrated with
Subledger Accounting (SLA) and support AME supervisory level approval process.
56. How to efficiently handle
period-close process in Oracle
EBS R12 - a critical study
Period Close Steps
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Period-Close Related Steps:
Oracle Lease and Finance Management
Please refer the Oracle White Paper named ‘Period-End Procedures’
for a detail reference on period-close procedural steps. It is not the
intention of this document to provide the details on procedural steps
for period-close. The following are provided for a cross-reference
only.
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Period-Close Related Steps:
Oracle Lease and Finance Management
The following are the Oracle Lease and Finance Management period-close
related steps in sequence:
1. Complete booking, rebooking, and contracts processing.
2. Generate and complete all accruals
3. Complete recording of all actual losses and/or make loss provision.
4. Complete and interface the transaction entries to other Oracle Subledgers (Oracle
Receivables, Oracle Payables) and General Ledger.
5. If required, enter manual invoices for ad-hoc billing items
6. Record any required adjustments
7. View Account Balances Report
8. Reconcile the Oracle Lease and Finance Management with Oracle General Ledger.
9. Close the current OLFM Period
10. Open the next OLFM Period
Note: If required, you can re-open the OLFM Period
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Period-Close Related Steps:
Order Management
The following are the Order Management related steps in sequence:
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 (Optional)
6. Review Discounts
7. Review Backorders
8. Review and Correct Order Exceptions
9. Reconcile to Oracle Inventory
10. Create Service Contracts (Optional)
11. Reconcile to Oracle Receivables (Optional)
12. Run Standard Period End Reports
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Period-Close Related Steps:
Cash Management
The following are the Cash Management related steps in sequence:
1. Complete Daily Cash Management Activities
2. Load Bank Statements
3. Generate Sweep Transactions
4. Create Bank Statement Cash flows
5. Reconcile Bank Statements
6. Create Miscellaneous Transactions
7. Complete Bank Transfers
8. Review Auto-Reconciliation Execution Report
9. Resolve Exceptions on the Auto-Reconciliation Execution Report
10. Run Bank Statement Detail Report
11. Run Transactions Available for Reconciliation Report
12. Resolve Un-reconciled Statement Lines
13. Post to General Ledger
14. Run the GL Reconciliation Report
15. Run the Account Analysis Report for the General Ledger Cash Account
16. Review the Account Analysis Report
17. Correct any Invalid Entries to the General Ledger Cash Account (Optional)
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Period-Close Steps: Oracle Treasury
The following are the Oracle Treasury Period-Close steps in
sequence:
1. Complete Daily Trading Activities
2. Perform Revaluation
3. Generate Accruals and Amortization
4. Generate Journals
5. Transfer Journals to General Ledger
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Period-Close Steps: Payables
The following are the AP Period-Close steps in sequence:
1. Complete All Transactions for the Period Being Closed
2. Run the Payables Approval Process for All Invoices
3. Review and Resolve Amounts to Post to the General Ledger
4. Reconcile Payments to Bank Statement Activity for the Period
5. Transfer All Approved Invoices and 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 Oracle Payables Period
13. Run Reports for Tax Reporting Purposes (Optional)
14. Run the Key Indicators Report (Optional)
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Period-Close Steps: Oracle Receivables
The following are the AR Period-Close steps in sequence:
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. Close the Current Oracle Receivables Period
12. Review the Subledger Period Close Exceptions Report
13. Third Party Balances Report
14. Reconcile Posted Journal Entries
15. Review the Unposted Items Report
16. Review Account Analysis Report
17. Open the Next Oracle Receivables Period
18. Run Reports for Tax Reporting Purposes (Optional)
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Period-Close Steps: Purchasing
The following are the PO Period-Close steps in sequence:
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 on Outstanding Invoices
7. Complete the Oracle Payables Period-End Process
8. Run the Receipt Accruals - Period End Process
9. Reconcile Accrual Accounts - Perpetual Accruals
10. Perform Year End Encumbrance Processing (Optional)
11. Close the Current Oracle Purchasing Period
12. Open the Next Oracle Purchasing Period
13. Run Standard Period End Reports (Optional)
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Period-Close Steps: Inventory
The following are the Oracle Inventory Period-Close steps in
sequence:
1. Complete All Transactions for the Period Being Closed
2. Check Inventory and Work in Process Transaction Interfaces
3. Check and fix pending Transactions
4. Transfer Summary or Detail Transactions
5. Open the Next Inventory Period
6. Close the current Oracle Payables and Oracle Purchasing Periods
7. Close the Current Inventory Period
8. Run Standard Period-End Reports and reconcile the Perpetual Inventory
with GL
9. Validate the Work in Process Inventory
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Period-Close Steps: Projects
oThe following are the PA Period-Close steps in sequence:
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 Transactions for the Period Being Closed (Current Period)
6. Run the Cost Distribution Processes
7. Run the Generate Cost Accounting Events Program
8. Interface Cost Transactions to Other Applications
9. Generate Draft Revenue for All Projects
10. Review and Release Revenue for All Projects
11. Run Generation Revenue Accounting Events Process
12. Run Create Accounting to Process Revenue Accounting Events
13. Generate Invoices
14. Transfer Invoices to Oracle Receivables
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Period-Close Steps: Projects
oThe following are the PA Period-Close steps in sequence (contd..):
15. Run Period Close Exceptions and Tieback Reports
16. Run Final Project Costing and Revenue Management Reports
17. Change the Current Oracle Projects Period Status from Pending Close to Closed
18. Advance the PA Reporting Period (Optional)
19. Update Project Summary Amounts
20. Restore Access to User Maintenance Activities
21. Reconcile Cost Distribution Lines with General Ledger (Optional)
22. Permanently Close the Oracle Projects Period (Optional)
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Period-Close Steps: Oracle Assets
The following are the Oracle Assets Period-Close steps in sequence:
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 Accounting
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 the General Ledger Using Reports
11. Run Responsibility Reports (Optional)
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Period-Close Steps:
Oracle General Ledger
The following are the Oracle General Ledger Period-Close steps in sequence:
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 Web Applications Desktop Integrator to Oracle General
Ledger (Optional)
4. Complete Non-Oracle Sub-ledger Interfaces to Oracle General Ledger
(Optional, only required if you want to post from non-Oracle systems)
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 the Period Close Exceptions Report
11. Run GL Trial Balances and Preliminary Financial Statement Generator Reports
12. Revalue Balances (Optional)
13. Translate Balances (Optional)
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Period-Close Steps:
Oracle General Ledger
The following are the Oracle General Ledger Period-Close steps in
sequence:
14. Consolidate Ledgers (Optional)
15. Reconcile Intercompany (optional)
16. Review and Correct Balances (Perform Reconciliations)
17. Enter Adjustments and Accruals and Post
18. Perform Final Adjustments
19. Close the Current Oracle General Ledger Period
20. Open the Next Oracle General Ledger Period
21. Run Financial Reports for the Closed Period
22. Run Reports for Tax Reporting Purposes (Optional)
23. Perform Encumbrance Year End Procedures ( Optional)
71. April 2-6, 2017 in Las Vegas, NV USA #C17LV
Contact Information
Thank you very much for attending my presentation on ‘How to
efficiently handle period-close process in Oracle EBS R12 - a critical
study’. Below is my contact details.
• Name: Anpu Rajaratnam
• Position: IT Architect - Finance
• Company: Cree, Inc.
• Email: arajaratnam@cree.com, anpu.rajaratnam@yahoo.com
• Phone: (919) 656-8832
72. Please Complete Your
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Session ID: 10081