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Period Close Exception Report

The Payables Period Close Exception Report summarizes issues that need to be addressed before closing the books for the DEC-13 period for the KEPL operating unit. It found 1 unaccounted payment transaction for Kingsmen Middle East LLC and provides instructions for submitting processes to create accounting for the transaction, update matured bill statuses, transfer journal entries to the general ledger, and address other exceptions. The report notes that sweeping exceptions would transfer them to the next open period except for those in the "Other Exceptions" section.

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vvijay05
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550 views2 pages

Period Close Exception Report

The Payables Period Close Exception Report summarizes issues that need to be addressed before closing the books for the DEC-13 period for the KEPL operating unit. It found 1 unaccounted payment transaction for Kingsmen Middle East LLC and provides instructions for submitting processes to create accounting for the transaction, update matured bill statuses, transfer journal entries to the general ledger, and address other exceptions. The report notes that sweeping exceptions would transfer them to the next open period except for those in the "Other Exceptions" section.

Uploaded by

vvijay05
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Payables Period Close Exception Report Report Date: 15-MAY-2014

Company: KEPL Page: 1 of 2


From Accounting Date:


To Accounting Date:
Period Name: DEC-13
Summary By Operating Unit
Operating Unit Unaccounted
Invoices
Unaccounted
Payment Activity
Bills Payable
Requiring Maturity
Event and
Accounting
Outstanding
Payment Process
Requests
Accounting Entries not
Transferred to the
General Ledger
Other
Exceptions
Does User
has access to
OU?
KEP (83) 0 1 0 0 0 0 Yes
Payables Period Close Exception Report Report Date: 15-MAY-2014
Company: KEPL Page:
2 of 2

Operating Unit: KEP
Unaccounted Payment Activity
Payee Name Bank Account
Name
Payment
Number
Accounting
Date
Currency Payment Amount Transaction Type
Kingsmen Middle East LLC UOB-SGD 597 31-Dec-20
13
AED 447,034.07 CLEARING

Suggested Corrective Actions for Exceptions


Unaccounted Invoices and Unaccounted
Payment Activity
Submit the Create Accounting process to create accounting for the transactions.
Navigate: Payables Responsibility > Other > Request > Run > Create Accounting Process
If accounting can not be created due to holds/other problems that can not be easily resolved, and accounting
is not needed in the current period, consider running the Unaccounted Transaction Sweep.
Bills Payable Requiring Maturity Event and
Accounting
Submit the Update Matured Bills Payables Status process for Future dated payments still to mature in the
period.
Navigate: Payables Responsibility > Other > Request > Run > Update Matured Bills Payables Status
Outstanding Payment Process Requests Confirm/Cancel the unconfirmed payment Process requests for the period
Accounting Entries not Transferred to the
General Ledger
Submit the Transfer Journal Entries to GL process to transfer any untransferred accounting entries to GL
Navigate: Payables Responsibility > Other > Request > Run > Transfer Journal Entries to GL
Other Exceptions Other Exceptions have been detected that will prevent period close. Log an SR with Support to fix the other
exceptions. Upload the Exception report output showing the Other Exceptions and include the
Accounting Health Check diagnostic output.
Please note, sweeping the exceptions would transfer all exceptions except the ones reported in section 'Other Exceptions' to the next open period.
End of Report

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