AP Month End closing - Oracle Payables

Oracle Payables 

Oracle Payable - Month End Closing

Complete all the invoices and validate them. 

A - Create Accounting and Transfer to GL:

Create Accounting Program:

To create Accounting runs this report.

Transfer to GL Report

For transfer entries to GL run this report.

Run Mass Additions Transfer to Oracle Assets

Run this report to transfer all the assets to Assets Module in the mass addition window.

B – Reconciliation with GL:

Unaccounted Transactions Report (XML)

Run this report to see the unaccounted transactions during the period. And to account for these transactions and then run create accounting.

 Subledger Period Close Exceptions Report

Run Subledger period close report to see the exceptions in the module during the period. Due to that accounting is not created or transactions still not transfer to GL.

Period Close / Sweep transactions

Create accounting for unaccounted transactions and remove the exceptions and then close the payable period.

If there is still some exceptions that need to be remove or cannot be removing in the current month then sweep the transactions in the next month.

Reconciliation reports:

Account Analysis Report – Sub ledger

 Payables Trail Balance

Uninvoiced receipt report

Reconciliations: ____________________

Add the current period's posted invoices (total invoice amount from the Posted Invoice Register) and subtract the current period's posted payments (total cash plus discounts taken from the Posted Payments Register) from the prior period's Accounts Payable Trial Balance.
This amount should equal the balance for the current period's Accounts Payable Trial Balance.

For example, you are closing your accounting period for April and you have just posted your final invoice and payment batches to your general ledger system.
To reconcile your accounts payable activity for April, make the following calculation:

March Accounts Payable Trial Balance
+ April Posted Invoice Register
- April Posted Payment Register
= April Accounts Payable Trial Balance