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
About the Author
About the Reviewer

Closing Payables

At the end of a period, payables transactions are transferred to the General Ledger and Assets. In this recipe, let's close the payables period for March 2011.

Getting ready

Before we can close Payables, we need to complete the following:

  1. 1. Bank statements in Cash Management must be reconciled and all issues resolved.

  2. 2. Miscellaneous transactions are completed for transactions in Cash Management, for example, bank charges are entered in Payables from Cash Management.

  3. 3. Transactions for the period have to be completed. For example, invoices, prepayment, and payments.

  4. 4. Review the Uninvoiced Receipts Report from Purchasing for receipts not yet invoiced. When the receipt accrual is run from purchasing at the end of the period, journal entries are created for the amount of the receipt liabilities.

  5. 5. Ensure that eligible invoices are approved in readiness for payment.

  6. 6. Review and resolve holds placed on the invoices.

  7. 7. Complete all payment runs for outstanding invoices due...