Oracle E-Business Suite 12 Financials Cookbook

Chapter 9. End of Period Processing

In this chapter, we will cover:

• Closing Payables
• Closing Purchasing
• Closing Receivables
• Closing the Inventory
• Closing the General Ledger

Introduction

At the end of every period, accounting books need to be closed. In this chapter, we will look at the core steps required to close the financials periods.

The following diagram shows a typical period end process:

1. The bank statements are reconciled in Cash Management. Additional miscellaneous transactions are created.
2. All the transactions for the period are completed in the Subledger. All outstanding issues are resolved.
3. Run the Invoice Validation Report in Payables.
4. Review and ...