1.

Order Management / Shipping

2. Cash Management / Treasury
3. Payables
4. Receivables
5. Purchasing
6. Inventory / Costing
7. Projects
8. Assets
9. General Ledger

Payables
1. Complete All Transactions for the Period Being Closed
2. Run the Payables AutoApproval Process for All Invoices / Invoice Batches
3. Review & Resolve Amounts to Post to the General Ledger
4. Reconcile Payments to Bank Statement Activity for the Period
5. Transfer All Approved Invoices Payments, Reconciled Payments to the General Ledger
6. Review the Payables to General Ledger Posting Process After Completion
7. Submit the Unaccounted Transactions Sweep Program
8. Close the Current Oracle Payables Period
9. Accrue 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 Transactions
8. Close the Current Oracle Payables and Oracle Purchasing Periods
9. Close the Current Inventory Period
10. Open the Next Inventory Period
11. Run Standard Period End Reports (Optional)
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)

Period Navigation

Purchasing:Purchasing Responsibility > Setup > Financials > Accounting > Control
Purchasing Periods

Inventory:Inventory Responsibility > Accouting Close Cycle > Inventory Accounting

Periods

GL:General Ledger Responsibility > Open/Close

AP:Payables Responsibility > Setup > Calendar > Accounting > Accounting Periods

AR: Receivables Responsibility > Control > Accounting > Open/Close Period

Period Close Processing :

General Ledger

Payables

Receivables

Cash Management

Fixed Asset

Period Close Processing Checklist -> R12 General Ledger

GL period closure is needed per ledger.Here is checklist with some handy notes for refrence.
1.

Ensure Next Period is Future Enterable or Open : You need Set the status of the next
accounting period to Future Entry if it is not already, except at year-end.While doing the year-

end, it is recommended that you complete all period end processing, prior to opening the first
period of the new financial year.
2.

Import & Post SLA & Feeder Systems

o

Import Journals

Journal Import Execution Report

Delete Journals in Error

Correct via Correct Journal Import Data

Re-import

Post Journals

3.

Post All Journals (after correcting posting errors)

4.

Run and Review Journals Reports

5.

Run Revaluation :This need to revalue account balances to update functional currency
equivalents

6.

Run Translation : This is Optional , need only when you define any new currencies to which
accounting balances are to be translated. In that case you
o

.. Maintain period-end exchange rates for all foreign currencies to which you want to
translate.

.. Maintain average exchange rates for all foreign currencies to which you want to
translate.

.. Maintain historical rates or amounts for any owners equity accounts to be

translated.

.. Translate account balances to any defined currency

7.

Reconcile Intercompany

8.

Close GL Period

9.

Consolidate Ledgers

10. Run Final Reports

If you are using intercompany segments, then steps 7 will be additional for you. Therefore

While doing Intercompany Reconcilation, you need to compare the balance of intercompany
accounts for a pair of trading partners to see if they match

Drill down to General Ledger Balances

Drill down to journals in GL, SLA and subledger transactions (invoices, etc.)

Hope this helps.

Period Close Processing Checklist -> Payables

These are Closure Checklist for Payables Period end.
1.

Complete Transactions : that means Completing all transactions for Oracle Payables:

.. Complete Invoicing and Credits

.. Complete Prepayments

.. Complete Expense Reports

.. Complete Invoice Import

you can use Invoices On Hold Report

2.

Approve Invoices :The Payables Approval process is run to try to approve all unapproved
invoices in the system, so that they can be paid by Oracle Payments and posted to the General
Ledger

3.

Complete Payments

4.

Reconcile Payments/Bank Statements

5.

Resolve Potential Accounting Issues

o

Create Accounting

Journal Entries Report

Unaccounted Transactions Report

6.

Post (GL) Payables Transactions

7.

Review Accounting

1.

Payables Accounting Process Report

2.

Posted Invoices Register

3.

Posted Payments Register

Unaccounted Transactions Sweep

Close Payables Period

o

Subledger Period Close Exceptions Report

Accrue Un-invoiced Receipts

Reconcile Payables Activity to GL

1.

AP Trial Balance Report (Account definition, Data Mgr Program)

2.

Third Party Balances Report

3.

Account Analysis Report

Mass Addition Transfer to Assets

While doing the reconcilation , you might have these issue

Transactions do not appear in Open Account Balances Listing report

Accounting does not appear in Account Analysis report

Cancelled invoices/payments result in errors in accounting and reports

Create accounting program errors

Transfer to GL program errors

These are known issues and you check with corresponding metalink note.
Make sure you should follow the best Practice

It always encouraged to include all LIABILITY accounts in Open Account Balances Report
Definition.

Explore the Control Account feature with Third Party Balances report.

You should avoid reversing batches (or modifying Journals) in GL, if transferred by SLA.

Always use Period Close Exception report prior to closing Periods in GL and reconciling to
Account Analysis & Trial Balance reports.

You can use only SLA or GL (not both) to create manual journal entries for subledger
transaction corrections.

Period Close Processing Checklist and Reconciliation -> Receivables

Here are steps and checklist for R12 AR Month End Close and Reconciliation.
1. Complete All Transactions for the Period Being Closed
2. Complete and review your unapplied receipts
3. Reconcile Receipts to Bank Statement Activity for the Period
4. Change period status to Close Pending
Navigate ..Control>Accounting>Open/Close Periods
Donot get confused with various status of periods:

Closed: Journal entry, posting, and transaction entry are not allowed unless the
accounting period is reopened. Receivables verifies that there are no unposted items in
this period. Receivables does not let you close a period that contains unposted items.

Close Pending: Similar to Closed, but does not validate for Unposted items. Journal entry,
posting, and transaction entry are not allowed unless the accounting period is reopened.

Future: This period is not yet open, but you can enter transactions in this period.
However, you cannot post in this period until you open it.

Not Opened: This period has never been opened and journal entry and posting are not
allowed.

Open: Journal entry and posting are allowed.

5.Create accounting
Due to the introduction of the Subledger Accounting Architecture in Release 12 this step is new, as it
enables you to create accounting for your completed transactions, which will be feed into General
Ledger.Check it out old Notes (here, here, here)for SLA Process.
6.Review Unposted Items Report
You can review the Unposted Items Report to determine if any exceptions have been encountered,
that will need to be resolved, to ensure all accounting has been successful for all transactions.

7.Reconcile Transaction Activity for the Period (Transaction & Receipt)

Run Journal Entries Report

Transaction Register Total for Postable Items = Sales Journal by GL Account for the Receivable
Account Type (Total DRTotal CR)

Receipt Register

Receipt Journals Report

In theory this step is unchanged between Release 11i and Release 12. Its just important to note that
you should not be trying to reconcile distributions on transactions to account balances, as these are
not necessarily the final accounting for these transactions.
1.Check that Receivables Receipts Balance by running the Receipt Journal report and the Receipt
Register for the same GL Date range.
2. Use the Receipt Journal to View information about Receipts that appear in your Journal Entries
report. Use the Receipt Register to Review a list of receipts for the date range that you specify. The
total of the Receipt Journal should equal the total of all receipts in the Receipt Register. These reports
display information about both InvoiceRelated and Miscellaneous Receipts.
8.Reconcile outstanding customer balances

Aging Report (last period)

Transaction Register

Adjustments Register

Invoice Exceptions

Applied Receipts Register

Unapplied Receipts Register

Aging Report (this period)

Most of these reports havent changed between Release 11i and Release 12, except that they look at
the SLA tables instead of the AR tables.
If you are coming from 11i to R12, you should note that there is change in Aging Repots(Aging - 7
Buckets ) Behaviour .
Few High Points of Changes are:[Adpoted User Guide]

In Release11i, the Aging Reports pull the data directly from the ar_payment_schedules_all
table while in Release 12 the data is pulled from the SLA tables after when Create Accounting
is run.

In release 11i, all the transactions used to appear on all the Aging Reports.
o

The transactions are classified into three sections, namely:

1. Those transactions, which were accounted for in GL through the GL interface
program.
2. Those transactions, for which accounting could not be generated because they were
created with the flag Post to GL as un-checked.
3. Those transactions, which were created with transaction type having the flag Post
to GL as checked but were however, not interfaced to GL.

9.Post Receivables transactions in General Ledger

10.Reconciling AR and GL Balances
The following is a list of the Critical Reports required for Reconciliation between AR and GL

Journal Entries Report (AR)

Sales Journal by GL Account Report (AR)

Receipt Journal Report (AR)

Account Analysis Subledger Detail-180 Char (GL)

Third Party Balance Report (New to R12)

AR Reconciliation Report (AR)

The Total Activity in a period is calculated as follows:

Transaction Register for the Period
(-) Applied Receipts Register for the Period
(-) Un-Applied Receipts Register for the Period
(+) Adjustments Register for the Period
(-) Invoice Exceptions for the Period
(+) Rounding Differences for the Period
(+) Credit Memo gain/loss for the Period
11.Close AR Period

Subledger Close Exception Period

From Receivables Responsibilities.

Navigate to Control --> Requests --> Run
Subledger Period Close Exceptions Report

Change Period status to Closed

Open next Period

Thats all about R12 Month End Close and Reconciliation of AR.

Period Close Processing Checklist -> Cash Management

Herewith providing the generic period close process for Cash managment for R12.
1.Make sure you have Loaded & reconciled all bank statements for month

You must verified Auto-Reconciliation Execution Report

2.If there any , resolve all exceptions

3.Create miscellaneous transactions
This step existed in Release 11i but the difference is that in Release 12 when you create the
miscellaneous transactions in AR, the accounting is done by SLA.
4. Resolve unreconciled lines

Bank Statement Detail Report

Transactions available for Reconciliation Report

A Note on Transactions Available for Reconciliation Report

Take advantage of this report.This report shows all transactions available for reconciliation for a
specific bank account. It lists detailed transaction information for your Available Receipts,
AvailablePayments, and Available Journal Entries for reconciliation.
Detailed information includes the Customer, Supplier, Transaction Date, Payment Method, Transaction
Number, Currency, and Amount. It also lists detailed information for statement lines that are available
for reconciliation against other statement lines.
5.Reconcile to General Ledger

GL Reconciliation Report

Account Analysis Report for Cash Account

A Note on General Ledger Reconciliation Report

Use this report to reconcile the General Ledger cash account to a bank statement balance.
This report lists a balance and an adjusted balance for the bank statement. It also lists a separate
adjustment amount for un-reconciled receipts, payments, and journal entries, as well as bank errors.
This Report will show

Hopefully these steps will be helpful for doing Closure for CE.

Period Close Processing Checklist ->Fixed Asset

Here are steps & procedures for performing period-end processing in Oracle Assets Release 12.
In FA, at period end, we require to run depreciation for depreciation books set up for the organization,
and to Create accounting for Oracle General Ledger. Oracle Assets has only a single open depreciation
period in each depreciation book.

1.Complete All Transactions for the Period Being Closed

You need to ensure that all transactions have been entered for the period being closed. Once a
depreciation period in Oracle Assets has been closed, it cannot be re-opened. Check that no-one is
entering transactions as Oracle Assets prevents transaction data entry while the Depreciation Run
Process is running. You need to complet all transactions for Oracle Assets:

Prepare and Post Mass Additions

Complete Manual Additions

Complete Adjustments

Complete Retirements

Complete Transfers

Complete Reinstatements

2.Then if you required, you need to assign distribution lines to all assets.
If an asset has not been assigned to a distribution line, the period end Depreciation Process will not
complete, and will not close the period. Take the advantage of running "Assets Not Assigned to Any
Cost Centers Listing " report to determine which assets have not been assigned to a distribution line.
3.Run Calculate Gains and Losses
This is optional , the Calculate Gains and Losses program for retirements can be submitted prior to
running depreciation. The Calculate Gains and Losses process is performed independently for each
depreciation book.
4.Run the depreciation
In Release 11i when you ran depreciation you would automatically close the period whereas in Release
12 you can now run depreciation without closing the period.
5.Create accounting
Create Journal Entries (FAPOST) is replaced by Create Accounting Assets process (FAACCPB)
6.RollBack Depreciation for adjustment
When you are trying to do adjustment on a particular asset, FA automatically rolls-back depreciation
for that particular asset.This is one of the area where you will experience change if you are coming
from other versions.
7.Once you are sure that all the balances are correct you need to run depreciation and close the
period.
8.Create accounting

You need to run "create accounting" very similar as mention in step 5.

9.Post Asset Transaction in GL
You need to make sure the step 8 must be completed only if you done transfer and posting for the
accounting entries to GL.
These steps are basically takes care of data movement , then next step for you to tie FA and GL.
For reconciliation of assets you need to take advantage of some of seeded and newly added report
that will help business user to reconcile and closing the period.
10. Reconcile your Fixed Asset and GL

Reconcile Assets to the GL Using Reports

o

Journal Entry Reserve Ledger - reconcile with the Account Analysis with Payables
Details Report.

Tax Reserve Ledger Report

Account Reconciliation Reserve Ledger Report

Balance Report
o

Cost Detail and Cost Summary Reports

CIP Detail and CIP Summary Reports

Reserve Detail and Reserve Summary Reports

Revaluation Reserve Detail and Revaluation Reserve Summary Reports

GL Report
o

Journal - posted/Unposted

Account analysis

Once these report can tally, there is no way that your P & L report is not going to tally.