Period closure process checking of transactional data 2011-11-03

The following is a note on the period closure process entailing the checking of transactional data, running of transfers of transactional data to the General ledger, reviewing/reconciling of reports and closure of periods in Oracle’s modules.

These activities needs to be performed on the frequency basis are needed – daily/ monthly for smooth transfer of data and operations. However, the specific activity of closing of periods in respective/relevant modules should take the following order:

1. Close Period in Payables
2. Close Period in Purchasing
3. Close Period in Inventory
4. Close Period in FA
5. Close Period in Receivables
6. Close Period in GL.