Book Image

Oracle E-Business Suite 12 Financials Cookbook

By : Yemi Onigbode
Book Image

Oracle E-Business Suite 12 Financials Cookbook

By: Yemi Onigbode

Overview of this book

Oracle EBS Financials Suite is a solution that provides out-of-the-box features to meet global financial reporting and tax requirements with one accounting, tax, banking, and payments model and makes it easy to operate shared services across businesses and regions. Have you ever wondered how the EBS Financials modules integrate with each other, and do you want to know how this is done quickly? If so, this book is for you. You may have read about what EBS financials does, but with this book on your work desk you will see how to do it. The Oracle E-Business Suite 12 Financials Cookbook will enable you to taste the core functionalities of the main modules using bite size recipes. Each recipe is organized in a way that will enable you to learn the core steps to perform in a key business scenario; it then dives deeper into concepts and scenarios. Discover scenario-based recipes, designed to help you understand how the end-to-end processes within EBS R12 Financials modules are linked together, through touch points. With each chapter, this book develops a full business end-to-end scenario to cover the financial modules. You will start by creating items in Inventory, and then purchase items in Procurement. Then you will move on to entering supplier invoices and paying them in Payables and creating and managing assets. See how items are sold and shipped to customers in Order Management, and how funds are received from customer in Receivables. Manage cash and transfer transactions to General Ledger, and then close periods.
Table of Contents (15 chapters)
Oracle E-Business Suite 12 Financials Cookbook
Credits
About the Author
About the Reviewer
www.PacktPub.com
Preface

Chapter 9. End of Period Processing

In this chapter, we will cover:

  • Closing Payables

  • Closing Purchasing

  • Closing Receivables

  • Closing the Inventory

  • Closing the General Ledger

Introduction

At the end of every period, accounting books need to be closed. In this chapter, we will look at the core steps required to close the financials periods.

The following diagram shows a typical period end process:

  1. 1. The bank statements are reconciled in Cash Management. Additional miscellaneous transactions are created.

  2. 2. All the transactions for the period are completed in the Subledger. All outstanding issues are resolved.

  3. 3. Run the Invoice Validation Report in Payables.

  4. 4. Review and resolve holds in Payables.

  5. 5. Run Purchasing Receipt Accruals.

  6. 6. Run Mass Additions Create for Assets.

  7. 7. Post Mass Additions.

  8. 8. Run Depreciation.

  9. 9. Create Accounting for transfers from the Subledgers to the General Ledger.

  10. 10. Run Payables Accounting Process to transfer to the General Ledger.

  11. 11. Run Receivables to transfer to the General...