This is one of the basic steps in the period end process to Open the next periods in General ledger

and Sub ledgers .You can open the period 2 or 3 days before the next month and the time and date depends on your specific Requirement. Period end process depends up on report requirement of the country, management, Investors but the Oracle application period closing procedures almost similar in all countries. If you are opening the new period in your next calendar year, Oracle transfer of all Revenue and Expense account balances to retained earnings. The program then sets the beginning balances for these accounts to zero for the first period of the New Year. You should book all your transactions in the current month before closing the month. If your company is publishing the quarterly earnings to the Investors and to the media, make sure that you have followed your management guidelines for booking last minute transaction. You need to reconcile your sub ledger to GL .Once the sub ledgers are reconciled to GL and close the sub ledgers. This will prevent the user to enter any transactions in the previous period, In the AR Module, you can put in close pending period, This will prevent the user to post any entries in the previous period and once you reconciled and transferred all AR Transaction to GL and close the AR period. In GL Post all journals, enter all the adjusting journals and recurring journals. (This again depends on your specific requirement). Run your Required reports and Close the periods. AP Period Closing. 1) Enter all invoices for the period on the last day of the month. 2) Validate Invoices at end of the day 3) Confirm all Payment Batches 4) Run Accounting Process & Transfer to the GL 5) Post all AP Journals in the GL 6) Run the AP Trial Balance and reconcile this balance to the AP Trade Account Balance in the GL. These should match. 7) Open Next Period in AP 8) Close Current AP Period and sweep open transactions to the Next Period. Close the old accounting period. If there are incomplete transactions that prevent from closing the payables accounting period, run and review the Period Close Exception Report and fix the exceptions. . If the close is not successful, then Sweep unaccounted transactions to the next accounting period using the Unaccounted Transactions Sweep Program. The availability of this functionality is dependent on whether any of the following conditions exist: - Outstanding payment batches in the period being closed - Unaccounted transactions - Transactions not transferred to the GL

AR Period Closing: 1. Complete the manual payments and adjustments for the period 2. Complete the final Lockbox Process 3. Complete the manual invoices, credit memos & corrections for the period 4. Run the final AutoInvoice Interface 5. Correct all the Autoinvoice rejects and re-run. 6.Run the Incomplete Invoices Report and Invoice Exception Report to identify all incomplete transactions 7. Confirm that there are no unapproved adjustments. If found approved or reject. 8. Complete or delete 'All' incomplete transactions 9. Run the Journal Entries Reports. 10. Review the Journal Entries reports for 'unusual' accounts and correct as needed. (if possible have someone in GL also verify) 11Run the Unposted Items Report to verify that all transactions have been transferred to GL 12. Run the Receivables Reconciliation Report to make sure that you balance with receivables. 13. Run the final post to General Ledger. 14. Post GL batches 15. Run the unposted items report - verify that there are no unposted items. 16. Reconcile Accounts Receivable balances to General Ledger. 17. Close accounting period in Oracle Receivables 18. Open the next accounting period in Oracle Receivables GL Period Closing Post all Journal Batches and ensure that they post successfully Reconcile Payables and Receivables Activity to the General Ledger Run the Preliminary Reports - Trial Balances Process Month-End Adjustments Entries - Recurring Journal Entries as needed Run Balance Sheet, Income Statement and Trial Balance2 Close the GL Period

Assets 1. Complete All Transactions for the Period Being Closed 2. Assign All Assets to Distribution Lines 3. Run Calculate Gains and Losses (Optional) 4. Run Depreciation 5. Create Journal Entries 6. Rollback Depreciation and/or Rollback Journal Entries (Optional) 7. Create Deferred Depreciation Journal Entries (Optional) 8. Depreciation Projections(Optional) 9. Review and Post Journal Entries 10. Reconcile Oracle Assets to Oracle General Ledger Using Reports. 11. Run Responsibility Reports (Optional) 12. Archive and Purge Transactions (Optional) Cash Managment 1. Load Bank Statements 2. Reconcile Bank Statements 3. Create Miscellaneous Transactions 4. Review AutoReconciliation Execution Report 5. Resolve Exceptions on the AutoReceonciliation Execution Report 6. Run Bank Statement Detail Report 7. Run Transactions Available for Reconcilaition Report 8. Resolve Un-reconciled Statement Lines 9. Run the GL Reconciliation Report 10. Run the Account Analysis Report for the General Ledger Cash Account 11. Review the Account Analysis Report 12. Correct any Invalid Entries to the General Ledger Cash Account (Optional) 13. Perform the Bank Reconciliation General Ledger 1. Ensure the Next Accounting Period Status is Set to Future Entry 2. Complete Oracle Sub-ledger Interfaces to Oracle General Ledger 3. Upload Journals from ADI (Applications Desktop Integrator) to Oracle General Ledger 4. Complete Non-Oracle Sub-ledger Interfaces to Oracle General Ledger (Optional) 5. Generate Reversal Journals (Optional) 6. Generate Recurring Journals (Optional) 7. Generate Mass Allocation Journals (Optional) 8. Review and Verify Journal Details of Unposted Journal Entries 9. Post All Journal Batches 10. Run General Ledger Trial Balances and Preliminary Financial Statement Generator Reports (FSGs) 11. Revalue Balances (Optional) 12. Translate Balances (Optional) 13. Consolidate Sets of Books (Optional) 14. Review and Correct Balances (Perform Reconciliations)

15. 16. 17. 18. 19. 20. 21.

Enter Adjustments and / or Accruals and Post Perform Final Adjustments Close the Current Oracle Gneral Ledger Period Open the Next Oracle General Ledger Period Run Financial Reports for the Closed Period Run Reports for Tax Reporting Purposes (Optional) Perform Encumbrance Year End Procedures (Optional)

Purchasing 1. Complete All Transactions for the Period Being Closed 2. Review the Current and Future Commitments (Optional) 3. Review the Outstanding and Overdue Purchase Orders (Optional) 4. Follow up Receipts-Check with Suppliers 5. Identify and Review Un-invoiced Receipts (Period End Accruals) 6. Follow Up Outstanding Invoices 7. Complete the Oracle Payables- Period End Process 8. Run Receipt Accruals - Period End Process 9. Reconcile Accounts - Perpetual Accruals 10. Perform Year End Encumbrance Processing. (Optional) 11. Close the Current Purchasing Period. 12. Open the Next Purchasing Period. 13. Run Standard Period End Reports (Optional) Inventory/WIP 1. Complete All Transactions for the Period Being Closed. 2. Check Inventory and Work In Process Transaction Interfaces. 3. Check Oracle Order Management Transaction Process. 4. Review Inventory Transactions. 5. Balance the Perpetual Inventory. 6. Validate Work In Process Inventory. 7. Transfer Summary or Detail Transactions Close the Current Oracle Payables and Oracle Purchasing Periods 8. 9. Close the Current Inventory Period 10. Open the Next Inventory Period 11. Run Standard Period End Reports (Optional) Order Management 1. Complete All Transactions for the Period Being Closed 2. Ensure all Interfaces are Completed for the Period (Optional) 3. Review Open Orders and Check the Workflow Status 4. Review Held Orders 5. Review Discounts 6. Review Backorders 7. Review and Correct Order Exceptions 8. Reconcile to Inventory 9. Reconcile to Receivables (Optional)

10. Run Standard Period End Reports