1. 2. 3. 4. 5. 6.

Completing the Transactions Creating Accounting Followed by Reconcile Transactions Post to GL Reconcile Accounting Close Period

AR CLOSING
1.&2 Complete All Transactions for the Period Being Closed, 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 5.Create accounting 6.Review 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 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 Invoice Related 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) Payables Period end. 1. Complete Transactions : that means Completing all transactions for Oracle Payables:
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.. 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 o Journal Entries Report o Unaccounted Transactions Report 6. Post (GL) Payables Transactions 7. Review Accounting 1. Payables Accounting Process Report 2. Posted Invoices Register 3. Posted Payments Register 8. Unaccounted Transactions Sweep 9. Close Payables Period o Subledger Period Close Exceptions Report 10. Accrue Un-invoiced Receipts 11. Reconcile Payables Activity to GL 0. AP Trial Balance Report (Account definition, Data Mgr Program) 1. Third Party Balances Report 2. Account Analysis Report 12. 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
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