8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
1/63
Month End Closing Process
Smith Romania version 2
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
2/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Document Control
Change Record
Date Author Version Change Reference
17-Nov-11 Francesco Di Maggio 1 Based on global version 3.1
19-Mar-12 Mark Bakker 2 Final version for Romania
Reviewers
Name Position
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
3/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Contents
SMITH ROMANIA VERSION 2 ........................................................................................................ IDOCUMENT CONTROL ...............................................................................................................II
Change Record ii
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
4/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
AR 02: Internal Reconciliation of Receivables ........................................................................... 32AR 03: Reconcile AR Control Balance to Oracle General Ledger .................................................. 33AR 04: (Optional) Run FINR231 Customer Transaction Listing (Open Items Only) ..................... 34AR 05: Close accounting period in Oracle Receivables ............................................................... 35AR 06: Open the next accounting period in Oracle Receivables .................................................. 35
GENERAL LEDGER CLOSE .............................................................................................. 36
OVERVIEW ............................................................................................................................37Period Status in General Ledger ................................................................................................. 37CLOSING INSTRUCTIONS ...........................................................................................................40
GL 01: Process Manual Journals in PSOB and RSOB .................................................................. 40GL 02: Verify Journal Interface for Pending Journals in PSOB and RSOB ..................................... 40GL 03: Process Reversing Journals in PSOB and RSOB .............................................................. 41GL 04: Approve and Post all Journal Entries in PSOB and RSOB ................................................. 42GL 05: Run Revaluations for liabilities and assets in PSOB ......................................................... 42GL 06: Run Revaluations for Sub-Ledger control accounts in PSOB ............................................. 43GL 07: Run Revaluations for liabilities and assets in RSOB ......................................................... 43
GL
08: Run Revaluations for Sub-Ledger control accounts in RSOB ............................................ 44GL 09: Smith Account Analysis and M7 Pivot ............................................................................ 44GL 10: Verify all the Accounting Entries in Primary and Reporting SOB ....................................... 45GL 11: Analyze the Accounting Results .................................................................................... 45GL 12: Generate & Upload FCS Data ........................................................................................ 45GL 13: Close the Accounting Period in PSOB and RSOB ............................................................. 46GL 14: Open Next Accounting Period ....................................................................................... 46GL 15: Consolidate management journals to Fiscal ................................................................... 46GL 16: Process Manual Journals in Fiscal.................................................................................. 47GL 17: Verify Journal Interface for Pending Journals in Fiscal ..................................................... 47GL 18 P R i J l i Fi l 47
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
5/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Preface
This document discusses in detail the process of Monthly Closing of Period inOracle Applications It covers in detail the closing and reconciliations of sub ledgers
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
6/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Payables Monthly Closing Process
Receivables Monthly Closure Process
General Ledger Monthly Closure
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
7/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Purchasing Close
hi h t ill b i th P i d E d A ti iti it ill b d i O l
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
8/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Closing Instructions
PO01: Check Receiving Transactions
The first step in the Purchasing period close process is to determine if there are any
unprocessed receiving transactions.
Navigation (Purchasing Manager): (N) Receiving > Transaction Status Summary
The Find Transactions Statuses window will appear, along with the Transaction
Statuses window. Click on (B) Findand observe the results in the Transaction
Statuses window.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
9/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
In case any issues cannot be resolved, please contact the Oracle support team via
MBXO l A S t@ ith
mailto:[email protected]:[email protected]:[email protected]8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
10/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Click (B) Import and review the output.
Navigation (GL Manager): (M) View > Requests > (B) Find > (B) View Output
Attention : This step needs to be performed for Primary, Reporting and
Fiscal Set of Books.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
11/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
PO04: Open Next Purchasing Period
Open the next Purchasing period in the same form.
PO05: Open Inventory Periods
Open the next Inventory period for all the Inventory Orgs (SRO for Smith Services
and SRB for Smith Bits)
Navigation (Inventory Manager): (N) Accounting Close Cycle > Inventory
Accounting Periods
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
12/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
The 2092 and 1238 should be Zero at the month-end. A balance on 2091 means
that goods have been received, but not yet invoiced.
The 2091 account can also contain Exchange Rate Variance and Invoice Price
Variance that are generated during the actual invoice processing which shall be
required to be re-classified using a Journal Entry in accordance with organizational
policies.
Attention : It has to be ensured that this account is reconciled for both
Primary and Reporting Set of Books.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
13/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Payables Close
This chapter provides with the detailed steps to be followed to close the Oraclebl
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
14/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Closing Instructions
Note: Invoices, Prepayments, Expense Reports and Invoice imports. Ensure that all
expense reports are imported and audit trail is reviewed.
AP
01: Run the Payables approval process
This step will insure that the Invoices pending validation are validated
Navigation (Payables Manager): (M) View > Requests > (B) Submit Concurrent
Request > Single Request (B) OK > Payables Approval
Parameters
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
15/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Parameters
Click (B) Submitand when the program finishes click (B) View Output.
The output of this request informs you of all invoices on hold and specifies whether
accounting is allowed for each type of hold. All invoices on hold need to be
addressed, especially those where accounting is not allowed (the period cannot be
closed if unaccounted transactions exist).
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
16/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Click (B) Find and verify that all the payment batches during the period have been
closed or confirmed. In case there are open batches these need to be Confirmed
or Cancelled.
Expected results
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
17/63
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
18/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Once the account for which the mapping is missing has been identified, add the
correct mapping to the Consolidation.
Navigation (GL Manager): (N) Consolidation > Define > Mapping > (M) View >
Find > Smith Romania to Romania Fiscal> (B) Account Rules
Once the mapping has been updated start from the beginning of stepA.
(Optional)
An alternative is to run the FINR320 report to identify all Global accounts for which
a mapping to the Fiscal account is missing.
Navigation (Receivables Manager): (M) View > Requests > (B) Submit a New
Request > Single Request (B) OK > FINR320-Fiscal COA Mapping Exception Report
Parameters Value
Responsibility GL
Consolidation Name Smith Romania to Romania Fiscal
Period Current Period to be closed
Code Combinations UNMAPPED CODE COMBINATIONS
Click(B) Options
Options Value
Template Name FINR320
Template Language English: United States
l
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
19/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
AP05: Perform Transaction Sweep (if required) and Payables Period Closing
Close the Payables Period in Control Payables Period Screen in Oracle.
Navigation (Payables Manager): (N) > Accounting > Control Payables Period
Select Status of the Period to be closed and press Save.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
20/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Press Exception Button and Decision Form will be shown with options to Review,
Cancel or Sweep Exceptions to Next Period
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
21/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Dist Variance Invoice Amount doesnt match the Invoice
Distribution Amount Totals. Open the Invoice
on Invoice Workbench and correctly re-enter
the same. After the Invoices have been
reprocessed.
Dist Acct Invalid This can happen in case the Invoice Distribution
Accounts have been end-dated after the Invoice
has been entered in Oracle Payables but beforetransferring the same to GL.
To Correct the same, requery the Invoice on
Invoice WB and correct the Distribution
Account entered there on.
Attention: Unaccounted Transaction Report doesnt include invoice that
dont have any distributions.
Where any corrections have been made to Invoices or the Invoices/Payments have
been re-accounted, resubmit the Payables Accounting Process as specified in Step
AP04. This will ensure all the accounting effects relating to Invoice and Payments
are being properly recorded in General Ledgers.
Review the Exception Records by Pressing Review Button
This step shall submit a Period Closing Exception Report. That can be reviewed
f
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
22/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
2) Transfer to GL interfaceIn Details
Period Name Choose the Period Name intended to be closed
from LOV
Attention : Where any corrections have been to Invoices or the
Invoices/Payments have been re-accounted, resubmit the
Payables Accounting Process as specified in Step AP04
above. This will ensure all the accounting effects relating toInvoice and Payments being properly recorded in General
Ledgers.
B. Invoice Sweep
In case, where it is required to Sweep the Unaccounted Transaction to Next Period
choose Sweep Button on the Exception Window. This will change the accounting
period for all the unaccounted Invoice Lines to the Next Accounting Period.
Attention : You can only sweep only unaccounted transactions to the next
period. All other Exceptions are required to be resolved before
proceeding with Invoice Sweep.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
23/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Oracle shall give a Warning Message, that Sweep Action is irreversible. To continue
with sweep click (B) OK. This should submit a concurrent request Unaccounted
Transactions Report, that shall run in sweep mode to change GL Dates for all
unaccounted invoices to the next period.
Review the Concurrent report output for Invoices Swept to Next Period.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
24/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Click (B) Submitand when the program finishes click (B) View Output.
B. Invoice Register
Use the SII Invoice Register to review invoices posted in a particular period.
Navigation (Payables Manager): (M) View > Requests > (B) Submit a New Request> Single Request (B) OK > SII - Invoice Register
Parameters Value
Supplier Name
Invoice Type
Batch
Entered By
From Entered Date
To Entered DateAccounting Period Current period to be closed
Cancelled Invoices Only No
Unvalidated Invoices Only No
Click(B) Options
Options Value
Template Name SIIAPXINRIR (default)
Template Language English: United States (default)
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
25/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Trial Balance is required for a specific liability
account
Summarize Report No
Negative Balances only No
Exclude Invoices Prior To Empty
Click (B) Submitand when the program finishes click (B) View Output.
The formula for verifying the month end Accounts Payable Trial Balance is as
follows:
Accounts Payable Trial Balance (d) (Previous Month)
+ Invoice Register (b) (Current Month)
- Payment Register (c) (Current Month)
= Accounts Payable Trial Balance (a) (Current Month)
Attention : All these reports can be run for both Primary and Reporting
Set of Book by passing appropriate parameter for Set of Books
Currency.
AP07: Reconciliation Oracle Payables Control Account GL Balance
This step is not required if GL matches with AP in the previous step
Liability Control Accounts needs to be reconciled between Oracle Payables
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
26/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
B. Run FINR250- SubLedger Reconciliation Report
Navigation (GL Manager PSOB): (M) View > Requests > Submit a New Request >
Single Request (B) OK > FINR250- SubLedger Reconciliation Report
Click(B) Options
Options Value
Template Name FINR250 (defaults)
Template Language English: United States (defaults)
Format Excel
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
27/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Click (B) Submitand when the program finishes click (B) View Output.
AP09: Open New Payables Period
Navigation (Payables Managers): Accounting > Control Payables Periods
Change the Next Period Status to Open.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
28/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Receivables Close
This section will cover the Period End Activities as it will be done in Oracle
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
29/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Closing Instructions
AR01: Transfer of AR Transactions to Oracle General Ledger
A.Check Incomplete Transactions
All transactions should have complete status. Run Incomplete Invoices report to
view the list of transactions that are with incomplete status.
Navigation (Receivables Manager): (M) View > Requests > Submit a New Request
> Single Request (B) OK > Incomplete Invoices Report
Parameters Value
Order By Customer
Click (B) Submitand when the program finishes click (B) View Output.
Incomplete transactions should be completed to ensure they will be accounted
properly. Check with the AR clerk to confirm if these transactions should be
completed.
B. Post Transactions
Run the posting manger program to transfer Receivables transaction accounting
distributions to the general ledger interface table (GL_INTERFACE). Receivables
help create unposted journal entries in the General ledger when General Ledger
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
30/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Click (B) Submitand when the program finishes click (B) View Output.
Navigation (Receivables Manager): (M) View > Requests > (B) Find > (B) View
Output
Attention : The application ID for AX Receivables is 222
C. Resolving issues
In some cases, the Posting Manager output may contain Errors. Details are listed
under a heading of untranslated events, meaning the errors are due to an
incomplete Global to Fiscal account mapping.
The Posting Manager processes transactions for Smith International and Smith
Confind, so the errors could be for both companies. To confirm which companys
transactions caused the errors, check the Unposted Items report.
Navigation (Receivables Manager): (M) View > Requests > Submit a New Request
> Single Request (B) OK > Unposted Items Report
Parameters Value
Set of Books Currency RON
Start GL Date First day of the month
End GL Date Last day of the month
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
31/63
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
32/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Adjustment Category Yes
Trade Receipt Category Yes
Misc. Receipt Category Yes
Click (B) Submitand when the program finishes click (B) View Output.
The above report can be run for all Posted Items to GL, Unposted Items to GL or
both Posted & Unposted Items.
AR02: Internal Reconciliation of Receivables
Monthly it is required to reconcile the transactions in receivables, both before and
after posting to the general ledger.
Run the AR Reconciliation Report to summarize all customer, receipt, transaction,
and account balances for the period specified to simplify the internal reconciliation
process.
Navigation (Receivables Manager): (M) View > Requests > Submit a New Request
> Single Request (B) OK > AR Reconciliation Report
Parameters Value
Reporting Level Operating Unit
Reporting Context Smith International Romania SRL-OU or
Smith Confind SRL-OU
Set of Books Currency RON
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
33/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Journal column. AR Reconciliation Report uses the following formula to ensure that
period activity matches your receivables ending balance
Beginning Balance
+ Transactions
+/- Adjustments
- Invoice Exceptions
- Applied Receipts- Unapplied Receipts
+/- Credit Memo Gain/Loss
= Ending Balance
If discrepancies exist between the two columns, then contact Help Desk
([email protected])for assistance.
The AR Reconciliation report displays summarized information consistent with
detailed registers and journal reports. To view the underlying detail, run these
reports:
Note: These reports are for detailed analysis. For faster analysis use the Pivots.
Aging 7-Buckets - By Account report or Aging 4-Buckets report (to view the
beginning and ending balances)
Transaction Register and Sales Journal
mailto:[email protected]:[email protected]:[email protected]:[email protected]8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
34/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
A.Aging 7-Bucket By Account
Navigation (Receivables Manager): (M) View > Requests > Submit a New Request
> Single Request (B) OK > Aging - 7 Buckets - By Account Report
Parameters Value
Reporting Level Operating Unit
Reporting Context Smith International Romania SRL-OU or
Smith Confind SRL-OUReport Summary Customer Summary
Report Format Brief (or Detailed)
As of Date Last day of the month
Aging Bucket Five Bucket Aging
Show on Account Age
Customer Name Low
Customer Name High
Customer Number Low
Customer Number High
Balance Due Low
Balance Due High
Invoice Type Low
Invoice Type High
Entered Currency
Company Segment Low
Company Segment High
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
35/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Template Language English: United States (defaults)
Format Excel
Click (B) Submitand when the program finishes click (B) View Output.
AR05: Close accounting period in Oracle Receivables
You can now close the period in Oracle Receivables
Navigation (Receivables Manager): (N) Control > Accounting > Open/Close
Accounting Periods
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
36/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
General Ledger Close
This section will cover the Period End Activities, as it will be done in Oracle
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
37/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Overview
Period Status in General Ledger
The status of an Accounting Period (General Ledger Period) controls the processing
of various transactions in the books of accounts. The accounting Periods can have
one of the following statuses.
Open Journal entry and posting is allowed a period with
Open status.
Closed Journal entry and posting activities are not allowed.
However, a closed period can be re-opened to
process any further transactions. Reporting and
inquiry allowed.
Permanently Closed Journal entry and posting activities are not allowed.
A Permanently Closed period cannot be re-opened.Reporting and inquiry allowed. A period should be
permanently closed only after the Final Statutory
audit for the financial year is completed.
Never Opened Journal entry and posting are not allowed. General
Ledger assigns this status to any period preceding
the first period ever opened in the calendar, or to
any period that has been defined, but is not yet
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
38/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
2) Choose Open Next Period. General Ledger calculates the ending account
balances for the current period, and launches a concurrent process to open
the next period. The current period remains Open.
Note: Although you can have several open accounting periods, to maximize
the efficiency of the General Ledger posting process, as well as to minimize
the possibility of user error, not more than 2 periods should be of open
status at any given point of time.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
39/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
1) Navigate to the Open and Close Periods window. General Ledger displays all
accounting periods defined for the calendar with the period type of the set
of books.
Navigation (GL Manager): (N) Maintenance > Open/Close
2) Select the period that you want to reopen. You can reopen any closed
period that is not permanently closed.
3) Change the status to open.
4) Save the work.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
40/63
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
41/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Attention : Repeat the process for RSOB.
B. Resolving issues
In some cases it may be desirable to solve issues immediately. In case of minor
issues (e.g. unbalanced journals due to small differences between minor and
major), journals can be corrected manually.
Navigation (GL Manager): (N) Journals > Import > Correct
Parameters Value
Source Source of the journals to be corrected
Category Category of the journals to be corrected
Currency Currency of the journals to be corrected
Click (B) Find.
In the Correct Journal Import Data form, find the transaction that needs to be
updated. It is f.i. possible to update the amount for a transaction to ensure that the
journal will balance.
C. Check GL Interface for Pending Data
Run FINR184 to check the GL interface for pending data.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
42/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Period Entered Previous period
Period Reversing Current period
Select all batches and click (B) Reverseto generate the revering journals.
Attention : Repeat the process for RSOB.
GL04: Approve and Post all Journal Entries in PSOB and RSOB
Post all pending journals for the concerned Period. Post all journals irrespective of
their balance type.
Navigation (GL Manager): (N) Journals > Post > Enter the period to be closed> (B)
Find > Select the Batches> (B) Post
Review the output.
Navigation (GL Manager): (M) View > Requests > (B) Find > (B) View Output
Attention : Repeat the process for RSOB.
GL05: Run Revaluations for liabilities and assets in PSOB
Run Revaluation 5250-Cash,LongDebts,Asset,Liabil in PSOB for Smith
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
43/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Effective Date Last day of the period
Rate Date empty
Post the Accounting Entries in PSOB
Navigation (GL Manager): (N) Journals > Post > Enter the period to be closed>
(B) Find > Select the Batches> (B) Post
GL06: Run Revaluations for Sub-Ledger control accounts in PSOB
Run Revaluation 5250-Sub-Ledger Control Accounts in PSOB for Smith
International
Run Revaluation 5320-Sub-Ledger Control Accounts in PSOB for Smith
Confind
Navigation (GL Manager): (N) Currency > Revaluation
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
44/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Run Revaluation 52320-Cash,LongDebts,Asset,Liabil in RSOB for Smith
Confind
Post the Accounting Entries in RSOB
GL08: Run Revaluations for Sub-Ledger control accounts in RSOB
Run Revaluation 5250-Sub-Ledger Control Accounts in RSOB for Smith
International Run Revaluation 5320-Sub-Ledger Control Accounts in RSOB for Smith
Confind
Post the Accounting Entries in RSOB
GL09: Smith Account Analysis and M7 Pivot
A.Smith Analysis & M7 Report
Navigation (GL Manager): (M) View > Requests > Submit a New Request > Single
Request (B) OK > Smith Analysis & M7 Report
Parameters Value
Set of Book 907
Account Combination Refresh Type P
GL Refresh Type P
Period Name Period to be closed
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
45/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
GL10: Verify all the Accounting Entries in Primary and Reporting SOB
Verify all the accounting entries that have been processed in Reporting Sets of
Books and Primary Sets of Books that have no corresponding entries in each of
book. This can be verified using the accounting Pivot.
GL11: Analyze the Accounting Results
Analyze the Accounting Results generated, pass the accounting entries or
adjustments required and follow the redo the GL Closing Process.
GL12: Generate & Upload FCS Data
Generate and Upload the FCS Data Mapping and Upload. The request has to run
from RSOB.
A.
Review FCS Mapping
Navigation (GL Manager): (M) View > Requests > Submit a New Request > Single
Request (B) OK > FCS Mapping
Parameters Value
Mapping 1582 (SMITH FCS EXTRACT) (defaults)
Period Name Current period to be closed
Set of Books Smith Romania RSOB
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
46/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Template Name FCS Text (default)
Template Language English (default)
Format ETEXT
Click (B) Submitand when the program finishes click (B) View Output.
The output of this request shall be generated in Text Format that can then be
uploaded for Reporting.
GL13: Close the Accounting Period in PSOB and RSOB
Close the Accounting Period in the Primary and Reporting Set of Books. Refer to
the section Period Status in General Ledgeron page37 for details.
GL14: Open Next Accounting Period
Open the Next Accounting Period in the Primary and Reporting Set of Books. Refer
to the section Period Status in General Ledgeron page37 for details.
FISCAL:
1st
thing run FINR320-Fiscal COA Mapping Exception Report from PSOB
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
47/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
ParentPeriod Current period to be closed
(B) Select Batches > Tick the batches that need to be consolidated into the Fiscal
book > (B) Transfer
Choose:
- All from FMS
- AX Payables and AX Receivables DO NOT transfer- Manual entries (journal entry/spreadsheet input by Irina for:
o Payroll NOT(but add it when its final)
o Car insurance Neda Brezanin (and any other car insurances)
o Other as advised by Irina or flagged in description as applicable
o Maternity bonus or any other related to payroll/compensation
o SRB purchasing (bits)
o SRO purchasing (DTR)trimit sume in fiscal 408.
GL16: Process Manual Journals in Fiscal
Enter Manual Journal entries for e.g. Provisions, Adjustments, Accrued Liability for
Uninvoiced Receipts and Allocations.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
48/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Navigation (GL Manager): (N) Journals > Generate > Reversal
Parameters Value
Reversible Yes
Period Entered Previous period
Period Reversing Current period
Select all batches and click (B) Reverseto generate the revering journals. View theoutput.
Navigation (GL Manager): (M) View > Requests > (B) Find > (B) View Output
GL19: Approve and Post all Journal Entries in Fiscal
A.Run Romanian Accounting program
Navigation (GL Manager Fiscal): (M) View > Requests > Submit a New Request >Single Request (B) OK > FINR300 - Corespondenta conturilor (Correspondence
Accounting)
Parameters Value
Company Oracle company code (e.g. 5250)
Period Name Period to be closed
Click (B) Submitand when the program finishes click (B) View Output.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
49/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
B. Post Journals
Post all pending journals for the concerned Period. Post all journals irrespective of
their balance type.
Navigation (GL Manager): (N) Journals > Post > Enter the period to be closed> (B)Find > Select the Batches> (B) Post
Review the output.
Navigation (GL Manager): (M) View > Requests > (B) Find > (B) View Output
GL20: Run Fiscal Revaluations in the Fiscal Set of Books
Run Revaluation 5250 Fiscal Revaluation in Fiscalfor Smith International
Run Revaluation 5320 Fiscal Revaluation in Fiscal for Smith Confind
Navigation (GL Manager Fiscal): (N) Currency > Revaluation (press F8 to get
screen below)
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
50/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Navigation (GL Manager): (M) View > Requests > (B) Find > (B) View Output
GL21: Smith Account Analysis and M7 Pivot for Fiscal
A.Fiscal M7 Report
Navigation (GL Manager): (M) View > Requests > Submit a New Request > Single
Request (B) OK > FINR263 - SLB FISCAL M7 Financial Extract
Parameters Value
From SOB ID 906
To FISCAL SOB ID 908
Period Name Period to be closed
Only Posted Journals Yes
Click (B) Submitand when the program finishes click (B) View Output.
B. Refresh Pivot Data on SQL Server
Navigate to the following website:
http://siianalytics.apps.smith.com/Pages/RunSSIS.aspx
Parameters Value
Set of Books 908Smith Romania FISCAL
Period Name Period to be closed
http://siianalytics.apps.smith.com/Pages/RunSSIS.aspxhttp://siianalytics.apps.smith.com/Pages/RunSSIS.aspxhttp://siianalytics.apps.smith.com/Pages/RunSSIS.aspx8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
51/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
GL23: Close the Accounting Period
Close the Accounting Period in the Fiscal book. Refer to the section Period Status
in General Ledgeron page37 for details.
GL24: Open Next Accounting Period
Open the Next Accounting Period in the Fiscal book. Refer to the section Period
Status in General Ledgeron page37 for details.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
52/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Year Closing in Oracle Applications
The process for financial year closing in Oracle Applications is the same as that of
Period Closing discussed in detail above. Whenever the first period of a new fiscal
year is opened, the system calculates automatically the Retained Earnings,
balancing the Income and Expenditure accounts. Whenever any transaction is
entered affecting the Income or Expense accounts, this balance will beautomatically reset by the System.
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
53/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Reference Check Lists
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
54/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Payables Closing Check List
Step Step Details Performed By
AP-01 Complete All Payables Transactions
AP-02 Close all Payment Batches
AP-03 Run Payables Accounting Process
AP-03 (b) Post the Journals in PSOB Payables
AP-03 (c) Post the Journals in RSOB Payables
AP-04 (a) Run & Review Unaccounted Transaction Report
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
55/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
= Account Analysis Report for Payables Control Accounts in GL
AP-07 (b) Reconcile Oracle Payables Control Account with GL for RSOB
Accounts Trial BalanceSummary
= Account Analysis Report for Payables Control Accounts in GL
AP-07 (c) Review the MRC Payables GLAccount Summary Report & MRC
Payables Open Item Reports
AP08 Open New Payables Period
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
56/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Purchasing Closing Check List
Step Step Details Performed By
PO-01 Check Receiving Transactions
PO-02 (a) Import Purchasing Transaction to GL in PSOB
PO-02 (b) Import Purchasing Transaction to GL in RSOB
PO-03 (a) Perform IPV Reclass in PSOB by Running SII Payables IPV
Reclassification from PSOB GL Responsibility
Post Journal in PSOB
PO-03 (b) Perform IPV Reclass in RSOB by Running SII Payables IPV
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
57/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Open Next Inventory Period for MUK
Open Next Inventory Period for NUK
Open Next Inventory Period for BUK
PO-09 Perform Reconciliation of Goods Clearing Account between FMS
and Oracle GL
PO-10 Reconcile AP Accrual Accounts
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
58/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
Receivables Closing Check List
Step Step Details Performed By
AR-01 (a) Perform Internal Receivables Reconciliations by Running ARReconciliation Report for PSOB and Ensure that reconciliation
Difference = 0
AR-01(b) Perform Internal Receivables Reconciliations by Running AR
Reconciliation Report for RSOB and Ensure that reconciliation
Difference = 0
AR-02 (a) Transfer AR Transactions to General Ledger
AR-02 (b) Analyze the Unposted Items Report and Rectify the Errors
AR-02 (c) Post the AR Journals in PSOB
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
59/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
General Ledger Closing Check List
Step Step Details Performed By
GL-01 Import Month-End Close Rates
GL-02 Process all the Closing Entries
GL-03 Run Journal Import for any pending Entries in Interface table
GL-04 Approve and Post all the Pending Journals for the Period
GL-05 Process all the Reversing Journals
GL-06(a) Process Site Cost Allocations in PSOB
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
60/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
GL-11(a) Process Product Group Allocations in RSOB
GL-11(b) Post the G&A, Interco Allocations RSOB
GL-12(a) Process Employee Charge Revaluations in PSOB
GL-12(b) Post the Employee Charge Revaluations in PSOB
GL-13(a) Process Employee Charge Revaluations in RSOB
GL-13(b) Post the Employee Charge Revaluations in RSOB
GL-14(a) Process Non-Reporting Recharge Allocations in PSOB
GL-14(b) Post the -Reporting Recharge Allocations in PSOB
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
61/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
GL-19(a) Process Other Asset Revaluations in PSOB
GL-19(b) Post the Other Asset Revaluations in PSOB
GL-20(a) Process Other Liability Revaluations in PSOB
GL-20 (b) Post the Other Liability Revaluations in PSOB
GL-21(a) Process Sub-Ledger Revaluations in RSOB
GL-21(b) Mark the Sub-Ledger Revaluation for Reversal in Next Period
GL-21(c) Post the Sub-Ledger Revaluations in RSOB
GL-22(a) Process Balance Sheet Revaluations in RSOB
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
62/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and
Purchasing Modules
____________________________________________________________________
_________________________________________________
GL-28 Open Next Accounting Period
8/10/2019 Smith CEU RO - Smith Romania Period Close Version 17 05 2012
63/63
Smith RO - Implementation of Oracle Applications R11.5.10Financial and Purchasing Modules
_____________________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________
Open and Closed Issues for this Deliverable
Open Issues
ID Issue Resolution Responsibility Target Date Impact Date
Closed Issues
ID Issue Resolution Responsibility Target Date Impact Date
Top Related