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  • Oracle Financials E-Business Suite, Release 12 Period End Procedures i

    ORACLE FINANCIALS

    E-BUSINESS SUITE, RELEASE 12 PERIOD-END PROCEDURES

    An Oracle White Paper

    June, 2009

  • Oracle Financials E-Business Suite Release 12 Period End Procedures

    Introduction

    Background

    This document has been put together by members of Oracle's internal EMEA

    Financials Professional Community, acknowledging that every Financials customer

    needs to successfully close the accounting books each period. Before the first external

    publication, various people from EMEA Applications Consulting and Financials

    Product Development have reviewed and enriched the content. Read the paragraph

    Status and Feedback below, if you have any comments or feedback.

    Objectives

    This document provides guidance on period end procedures in Release 12 for Oracle

    Payables, Oracle Purchasing, Oracle Inventory, Oracle Order Management, Oracle

    Receivables, Oracle Assets, Oracle Projects, Oracle Cash Management, Oracle

    Treasury and Oracle General Ledger. It is intended to be generic, and does not relate

    to a specific organization. Both mandatory and optional steps are included herein.

    Procedures particular to year-end processing are also described.

    This document intends to provide a reference for planning period-end procedures for

    real-life implementations. It describes the fundamental period-end steps involved for

    each, with particular emphasis on balancing the subledger applications to Oracle

    General Ledger, and attempts to provide an overview of the relative timing of these

    procedures for all installed Oracle applications.

    It is therefore the intention of this document to provide content from which relevant

    sections can be extracted, according to the applications installed for a particular

    organization. Any organization may choose to customize their period-end and year-end

    processes, for example opting to run additional reports, particular to the organization.

    Although this document particularly refers to Period-End Procedures, many of the

    processes can be performed more regularly throughout the accounting period, as

    required. Each subledger application provides control as to when and how often data is

    transferred from the subledger application to the General Ledger.

    Assumptions

    These Period-End Procedures were written with the assumption that Oracle

    Financials was implemented for a single operating unit. Where an organization has

    implemented the Multi-Org features of Oracle Financials, these procedures would

    need to be performed for each operating unit individually unless Multi-Org Access

    Control is enabled.

    Note: R12 requires multi-org functionality to be used. For further details refer to

    Oracle Applications Upgrade Guide: Release 11i to Release 12

    Oracle Workflow is incorporated in the Release 12 applications. It is assumed that

    these Workflow Processes will be monitored and attended to by a System

    Administrator on a regular basis. Some Workflow Processes like the Requisition

    Approval Workflow or the Purchase Order Approval Workflow will require a direct

    response from a message recipient rather than a System Administrator.

  • Oracle Financials E-Business Suite Release 12 Period End Procedures

    Organization

    This white paper contains twelve chapters and one appendix where you can find

    interesting links to more information.

    The first chapter describes the dependencies between the modules and the biggest

    change between Release 11i and Release 12, which is the introduction of Subledger

    Accounting (SLA). Then, the next ten chapters outline period-end procedures

    appropriate to the Oracle Applications covered in this document. The last chapter

    displays a summary of the main period-end procedures for each application and the

    relative timing of each.

    Attention: If you are using more than one application, the last chapter is a

    good reference to see that the order of the steps for each application are

    undertaken in the right sequence, relative to the other applications you are

    using.

    Status and Feedback

    This white paper is intended to be a living document. As we gather new or changed

    information, we will revise and re-publish this paper. Therefore, we welcome all

    feedback from you. On the bottom of the My Oracle Support note where you have

    downloaded this document is a link where you can email us your comments.

  • Oracle Financials E-Business Suite Release 12 Period End Procedures

    Table of Contents

    INTRODUCTION ................................................................................................................................................................. II

    CHAPTER 1 SLA AND PERIOD END CLOSE DEPENDENCIES ................................................................................................... 8

    Sub Ledger Accounting (SLA) Business Process......................................................................................................... 8

    Sub Ledger Accounting (SLA) Process Change .......................................................................................................... 8

    Subledger Accounting (SLA) Reconciliation .............................................................................................................. 9

    Subledger Accounting (SLA) Close Process General Steps....................................................................................... 10

    General Period End Close Dependencies ................................................................................................................ 11

    CHAPTER 2 ORACLE ORDER MANAGEMENT ...................................................................................................................... 12

    Business Requirements ............................................................................................................................................... 12

    Procedures ................................................................................................................................................................. 12

    1. Complete All Transactions for the Period Being Closed ...................................................................................... 12

    2. Ensure all Interfaces are Completed for the Period (Optional) ............................................................................. 13

    3. Review Open Orders and Check the Workflow Status ......................................................................................... 14

    4. Review Held Orders ............................................................................................................................................ 14

    5. Review Customer Acceptances (Optional) ........................................................................................................... 15

    6. Review Discounts ............................................................................................................................................... 15

    7. Review Backorders ............................................................................................................................................. 15

    8. Review and Correct Order Exceptions ................................................................................................................. 16

    9. Reconcile to Oracle Inventory ............................................................................................................................. 16

    10. Create Service Contracts (Optional) .................................................................................................................. 16

    11. Reconcile to Oracle Receivables (Optional) ....................................................................................................... 16

    12. Run Standard Period End Reports ..................................................................................................................... 17

    CHAPTER 3 ORACLE CASH MANAGEMENT ........................................................................................................................ 18

    Business Requirements ............................................................................................................................................... 18

    Procedures ................................................................................................................................................................. 18

    1. Complete Daily Cash Management Activities ..................................................................................................... 18

    2. Load Bank Statements ........................................................................................................................................ 18

    3. Generate Sweep Transactions ............................................................................................................................. 18

    4. Create Bank Statement Cashflows....................................................................................................................... 19

    5. Reconcile Bank Statements ................................................................................................................................. 19

    6. Create Miscellaneous Transactions .......................................