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 Inventory

At the end of a period Item, costs information needs to be transferred to the General Ledger before we can close the period. In this recipe, we will look at the process of closing inventory.

Getting ready

  1. 1. Complete all transactions shipping, receipts, issues, and adjustments.

  2. 2. Check Interface managers for outstanding transactions.

  3. 3. Transfer transactions to the General Ledger using the Create Accounting Cost Management Program.

  4. 4. Open the next period.

  5. 5. Close the Payables period.

  6. 6. Close the Purchasing period.

  7. 7. Close the Receivables period.

How to do it...

Close Inventory Period automatically transfers summary transactions to the GL interface table. The prior period needs to be closed before we can close the period. To accomplish this, carry out the following steps:

  1. 1. Select the Inventory responsibility.

  2. 2. Navigate to Accounting Close Cycle | Inventory Accounting Periods.

  3. 3. Select the period Jun-08 and click on the Pending button to review the pending transactions...