Period Close Processing Checklist -> R12 General Ledger

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
   • 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
8. Unaccounted Transactions Sweep
9. Close Payables Period
   • Subledger Period Close Exceptions Report
10. Accrue Un-invoiced Receipts
11. Reconcile Payables Activity to GL
    1. AP Trial Balance Report (Account definition, Data Mgr Program)
    2. Third Party Balances Report
    3. 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

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.