Payables Period Close Process in Oracle Fusion

Payables Period Close Process in Oracle Fusion

 

Period close process in oracle fusion is the process when we closes the month in Oracle Fusion application to stop doing any kind of transactions. Period is same like a month so when we move to next month similarly we move to next period in Oracle Fusion application and closes the previous period. Closing a period means , All the Transactions in that period has been freeze and Done and now no other transaction will be done in this period so we are closing this period or month for any transaction and any new transaction will be done in the next period.

 

In Fusion , Period close process is more similar like EBS r12.

 

Step1:- Navigation: Payables > Invoices

 

Step2:- You can run the Validation program on a daily basis but it is convenient to run it at month end, before creating accounting, to ensure all invoices have been validated.

 

 

Step3:- Run the Validation Program 

From the Task List: select Validate Invoices

 

Enter Process Parameters:
Business Unit:  Select your business unit
Ledger:  Select your ledger
Option:  Select All
Optionally enter Other Parameters.

 

 

 

Step4:- Navigator > Tools > Scheduled Processes.

Click on Refresh to see the status of Process
Once the process is succeeded, scroll down the page and click on the Republish button.
Review the report

 

Step5:- Navigation: Payables > Invoices.
Click on the ‘Holds’ Drop Down List as Below.
Open each invoice and correct the hold.
After Release the Hold Run the Validation Program Again.

 

 

 

 

Step6:- Run the Create Accounting program:
Navigator > Payables  >Invoices > Create Accounting

 

 

Enter Process Parameters:

 

 

 

 

Once the process is succeeded Then Follow these Below Steps.

select the ‘Create Accounting Execution Report’  and click on the Republish  Button
Review the report 

If there are Warning and/or Errors, review the details of the transactions with problems to identify what you need to correct. Proceed to correct the accounting errors for each transaction with error or warning, accordingly.

 

Step7:-Run the Payables Period Close Exceptions Report 

Navigator > Tools > Scheduled Processes

Navigator-->Tools-->Schedule Process   

 

 

Step8:-
Click on Schedule New Process
Type -Job ,
Name: LOV Search "Subledger Period Close Exceptions Report"
Choose & Click OK

 

 

 

 

 

Step9:-

Review the Output & Ensure all transactions are accounted and reports are showing as per expectation for the month. 

 

 

Payables Period Close Process in Oracle Fusion