138217863 ABRL Period End Procedure Doc

8/13/2019 138217863 ABRL Period End Procedure Doc

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Trainin/ Manual

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Shalini Pal #.' No Pre0ious Docu+ent

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S1aru) Ghosal Chau*hur" Pro2ect Mana/er

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# Li3rar" Master Pro2ect Li3rar"

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4

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4

Note to !olders"

I, "ou recei0e an electronic co)" o, this *ocu+ent an* )rint it out%)lease 1rite "our na+e on the e6ui0alent o, the co0er )a/e% ,or*ocu+ent control )ur)oses.

Oracle E-Business SuiteFile Re, #5&#78('$.*oc 9ersion #.' : ABRL Con,i*ential - For internal use onl"

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I, "ou recei0e a har* co)" o, this *ocu+ent% )lease 1rite "ourna+e on the ,ront co0er% ,or *ocu+ent control )ur)oses.


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Contents

Docu+ent Control............................................................................&

Contents...........................................................................................5

Intro*uction......................................................................................$

Pur)ose......................................................................................$Sco)e an* A))lication................................................................$

Pa"a3les Closin/ Proce*ures...........................................................8

Monthl" Tas;s............................................................................8 ................................................................................................7 <earl" Tas;s...............................................................................7

Purchasin/ Closin/ Proce*ures........................................................=

Monthl" Tas;s............................................................................= <earl" Tas;s...............................................................................=

Recei0a3les Closin/ Proce*ures......................................................(

Monthl" Tas;s............................................................................( <earl" Tas;s...............................................................................(

Fi>e* Assets Closin/ Proce*ures....................................................#'

Monthl" Tas;s..........................................................................#' <earl" Tas;s.............................................................................##

General Le*/er Closin/ Proce*ures...............................................#&

Monthl" Tas;s..........................................................................#& <earl" Tas;s.............................................................................#4


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Trainin/ Manual

#ntroduction

Purpose

The )ur)ose o, this *ocu+ent is to list the ste)s to 3e )er,or+e* 3e,ore closin/ ? o)enin/ a)erio* or )erio*icall"% to +aintain the s"ste+.

This *ocu+ent outlines the )erio* en* )roce*ures ,or

#. Pa"a3les

&. Purchasin/

4. Recei0a3les

5. Fi>e* Assets

$. General Le*/er.

This *ocu+ent inten*s to )ro0i*e a re,erence ,or )lannin/ )erio*-en* )roce*ures. It*escri3es the ,un*a+ental )erio*-en* ste)s in0ol0e* ,or each su3-s"ste+ +o*ule% 1ith)articular e+)hasis on 3alancin/ the a))lication to Oracle General Le*/er.

cope and Application

This *ocu+ent relates to the Perio* En* ? Perio*ical Proce*ures to 3e )er,or+e* to +aintainthe Oracle A))lications. <ou nee* to re,er to the Oracle A))lications User@s Gui*e%Con,i/uration Docu+ent an* List o, Sche*ule* Process o, the res)ecti0e +o*ule ,or*etaile* )roce*ures an* ste)s to 3e )er,or+e* ,or the tas;s liste* in this *ocu+ent.


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Payables Closing Procedures

$onthly %as&s

O)en AP Accountin/ Perio*

Match In0oices 1ith PO ? Recei)t

Enter other transactions 9In0oice% De3it Me+o an* Pre)a"+ent: in the s"ste+.

Generate In0oice ali*ation Re)ort% to chec; the Un0ali*ate* In0oices.

Generate In0oice On ol* Re)ort an* clear all hol*s

Generate In0oice Re/ister ,or In0oices an* chec;.

Re0ie1 Pa"+ent Re/ister

Su3+it the Create Accountin/ )rocess to create accountin/ ,or the transactions

Su3+it the Trans,er !ournal Entries to GL )rocess to trans,er an" un trans,erre*accountin/ entries to GL

Su3+it an* 0ie1 the Unaccounte* Transactions Re)ort to i*enti," an* resol0e issues1ith transactions that 1ill )re0ent accountin/

Run Mass A**itions Create% ,ro+ Oracle Pa"a3les 9This )rocess shoul* 3e Run onl"a,ter Pa"a3les Trans,er to GL: ,or CORPORATE 3oo;

Close AP Accountin/ Perio*

Run the Perio* Close E>ce)tions re)ort

Reconcile Pa"a3les acti0it" ,or the )erio*% /enerate the ,ollo1in/ re)orts an*reconcile the Accounts Pa"a3le Trial 3alance to the General Le*/er.

a. Accounts Pa"a3le Trial Balance 9current )erio* an* last )erio*:

3. Pa"a3les Poste* In0oice Re/ister 9Current Perio*:

c. Pa"a3les Poste* Pa"+ents Re/ister 9Current Perio*:

Notes:

1. Compare the Accounts Payable Trial Balance to the Accounts PayableLiability Balance in your General Ledger system for a given period.

2. To reconcile your accounts payable activity for April ma!e the follo"ingcalculation#

$arch Accounts Payable Trial Balance

% April Posted &nvoice 'egister


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( April Posted Payment 'egister ) April Accounts Payable Trial Balance ) April GL Balance for AP Liability Account

Close AP Accountin/ Perio*

O)en Ne>t AP Perio*

'early %as&s

• I, the *ocu+ent se6uences are s)eci,ic ,or each "ear% create *ocu+entSe6uences an* Assi/n the+ to the res)ecti0e Docu+ent Cate/ories.

.


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Purchasing Closing Procedures

$onthly %as&s

O)en Purchasin/ Perio*

Enter all Recei)ts Recei0in/ transactions ,or /oo*s an* ser0ices "ou recei0e**urin/ the )erio*

Note: GL, Purchasing and Inventory Periods should be open for

Receiving.

O)tionall" Re0ie1 the Outstan*in/ an* O0er*ue Purchase Or*ers. GeneratePurchase Or*er Detail Re)ort% O)en Purchase Or*ers 93" Bu"er: Re)ort% O)enPurchase Or*ers 93" Cost Center: Re)ort. These re)orts sho1 the 6uantit"or*ere* an* 6uantit" recei0e*

Attention" I, the /oo*s ha0e 3een recei0e*% 3ut not entere* into Oracle Purchasin/as recei0e*% the concerne* De)art+ent 1ill ha0e to )er,or+ the necessar" *ataentr".

Generate Unin0oice* Recei)ts Re)ort an* re0ie1. These are ite+s that ha0e

3een recei0e* an* the 0en*or has not in0oice* "et.

Run the Recei)t Accruals- Perio*-En* Re)ort to /enerate accrual entries ,or allnon-stoc; ite+s recei0e* 3ut not in0oice*.

Su3+it Create Accountin/ Process ,ro+ Cost Mana/e+ent-SLA to createaccountin/ ,or all transactions

Su3+it the Trans,er !ournal Entries to GL ,ro+ Cost Mana/e+ent-SLA to trans,er an"un trans,erre* accountin/ entries to GL

Close the Purchasin/ Perio*

O)en Ne>t Perio*

'early %as&s

• Nil


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Receivables Closing Procedures

$onthly %as&s

• O)en AR Accountin/ Perio*

• Co+)lete all Transactions 9In0oices% Cre*it Me+os an* De3it Me+os:

• Co+)lete all Recei)ts 3oth stan*ar* an* Miscellaneous Recei)ts.

•

Su3+it the Create Accountin/ )rocess to create accountin/ ,or alltransactions

• Su3+it the Trans,er !ournal Entries to GL )rocess to trans,er un trans,erre*accountin/ entries to GL

• Run AR Reconciliation Re)ort to reconcile all transactions in Recei0a3les

• Run AR to GL Reconciliation Re)ort to reconcile all transactions 1ithRecei0a3les 1ith the GL Control account 3alance

• Close AR Accountin/ Perio*

• O)en Ne>t Accountin/ Perio*

'early %as&s

• I, the *ocu+ent se6uences are s)eci,ic ,or each "ear% create *ocu+ent

Se6uences an* Assi/n the+ to the res)ecti0e Docu+ent Cate/ories.


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Trainin/ Manual

(i)ed Assets Closing Procedures

$onthly %as&s

Run Mass A**itions Create ,ro+ Oracle Pa"a3les 9This )rocess shoul* 3e run onl"a,ter Pa"a3les Trans,er to GL: ,or CORPORATE 3oo;

O)tionall" Run Mass A**itions Create Re)ort an* chec;.

Pre)are the Mass A**itions ,ro+ the Fi>e* Asset Mo*ule% Assi/n Cate/or"%E>)ense Account% Location% Descri)tion% TAG Nu+3er% an* Serial Nu+3er an*

chan/e the ueue status to POST ,or all the ne1 assets. Per,or+ se)aratel" ,orCORPORATE Boo;.

Run the Post Mass A**itions Process. This Process 1ill create Asset in the AssetBoo;% chec; the Asset cate/or"% De)reciation Rate an* Date Place* in Ser0ice.Run se)aratel" ,or CORPORATE Boo;

Chec; an* Reconcile the Fi>e* Assets Clearin/ Account an* CIP Clearin/ Account

Enter all Retire+ent ? rite O,, transactions in the s"ste+

Enter all Trans,ers in the s"ste+

O)tionall" Pro2ect De)reciation% "ou can )ro2ect *e)reciation e>)ense ,or an"nu+3er o, ,uture )erio*s.

Run De)reciation ,or CORPORATE Boo;. hen the )rocess is run% Oracle Assetsauto+aticall" calculates *e)reciation ,or all assets% calculates /ains an* losses ,orall retire+ents% an* then runs the !ournal Entr" Reser0e Le*/er Re)ort.

Chec; the De)reciation Calculation ,ro+ the !ournal Entr" Reser0e Le*/er Re)ort

Su3+it the Create Accountin/ )rocess to create accountin/ ,or all transactions

Su3+it the Trans,er !ournal Entries to GL to trans,er un trans,erre* accountin/

entries to GL

Chec; the !ournal Batches in General Le*/er an* Post the 2ournals.

Reconcile the Asset Clearin/ Account an* CIP Clearin/ Account.

Reconcile Oracle Assets 3alance 93oth Ori/inal Cost an* De)reciation Reser0e: tothe General Le*/er Usin/ Re)orts.


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'early %as&s

Maintain Assets Calen*ar

Note" Oracle Assets auto+aticall" sets u) the )erio*s ,or the ne>t ,iscal "ear at theen* o, each ,iscal "ear.

Maintain Prorate Con0entions

Note" At the en* o, each ,iscal "ear% Oracle Assets auto+aticall" sets u) "ourProrate con0entions ,or the ne>t ,iscal "ear.


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*eneral Ledger Closing Procedures

$onthly %as&s

O)en Ne>t Accountin/ Perio*.

Suggestion: Although you can have several open accounting periods toma*imi+e the efficiency of the General Ledger posting process as "ell as tominimi+e the possibility of user error limit the number of accounting periodsthat are open at one time.

Enter all Manual !ournal entries )ost the+.

I+)ort !ournals ,ro+ the ,ollo1in/ +o*ules i, the )ro,ile SLA Disa3le !ournalI+)ort is set to <ES% resol0e an" )ro3le+ usin/ the !ournal I+)ort E>ecutionRe)ort

#. Finance Mo*ules Pa"a3les ? Recei0a3les ? Fi>e* Assets

&. Cost Mana/e+ent 9,or Purchasin/ ? In0entor" ? Or*er Mana/e+ent:

!ournals 1ill /et i+)orte* ,ro+ the +o*ules Pa"a3les% Recei0a3les% Fi>e* Assetsan* Cost Mana/e+ent auto+aticall" i, the )ro,ile SLA Disa3le !ournal I+)ort is

set to NO a,ter Trans,er !ournal Entries to GL is run ,ro+ the res)ecti0e +o*ules.

B" *e,ault SLA Disa3le !ournal I+)ort )ro,ile is set to NO.

Re0ie1 the Un)oste* !ournals

Post all 2ournal entries% inclu*in/ allocation entries% an* recurrin/ 2ournals an*re0ie1 the Postin/ E>ecution Re)ort to *eter+ine i, there 1ere an" errors *urin/)ostin/. General Le*/er auto+aticall" )rints this re)ort a,ter "ou initiate )ostin/.

Generate Trial Balance an* Financial State+ents

Close GL Accountin/ Perio*

O)en Ne>t GL Accountin/ Perio*

Notes"

#. <ou can reo)en a close* )erio* at an" ti+e. <ou cannot reo)en a)er+anentl" close* )erio*.

&. Su3-+o*ules )erio* shoul* 3e close* 3e,ore closin/ the GL Perio*.

The Perio*-En* an* <ear-En* )rocesses are the sa+e% no s)ecial )roce*ures arere6uire* ,or Perio*-En*.


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'early %as&s

A** Accountin/ Perio*s to the Calen*ar ,or the Ne>t Financial <ear

Note" <ou can a** )erio*s to a calen*ar at an" ti+e. <our calen*ar can contain3oth a*2ustin/ an* non-a*2ustin/ accountin/ )erio*s.

I, the *ocu+ent se6uences are s)eci,ic ,or each "ear% create *ocu+entSe6uences an* Assi/n the+ to the res)ecti0e Docu+ent Cate/ories.


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138217863 ABRL Period End Procedure Doc

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