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