138217863 abrl period end procedure doc
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8/13/2019 138217863 ABRL Period End Procedure Doc
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Trainin/ Manual
Document Control
Change Record
#&
Date Author Version Change Reference
#$-!an-&''(
Shalini Pal #.' No Pre0ious Docu+ent
Reviewers
Name Position
S1aru) Ghosal Chau*hur" Pro2ect Mana/er
Distribution
CopyNo.
Name Location
# Li3rar" Master Pro2ect Li3rar"
&
4
5
Approval
CopyNo.
Name ignature
#
&
4
Note to !olders"
I, "ou recei0e an electronic co)" o, this *ocu+ent an* )rint it out%)lease 1rite "our na+e on the e6ui0alent o, the co0er )a/e% ,or*ocu+ent control )ur)oses.
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Trainin/ Manual
I, "ou recei0e a har* co)" o, this *ocu+ent% )lease 1rite "ourna+e on the ,ront co0er% ,or *ocu+ent control )ur)oses.
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Trainin/ Manual
Contents
Docu+ent Control............................................................................&
Contents...........................................................................................5
Intro*uction......................................................................................$
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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Trainin/ Manual
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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Trainin/ Manual
( 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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Trainin/ Manual
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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Trainin/ Manual
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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(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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Trainin/ Manual
'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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Trainin/ Manual
*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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Trainin/ Manual
'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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