Oracle GL Period Closing Steps and

Procedures
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Written by Kishore Khatri | 12 October 2010

Oracle GL Period Closing Steps and Procedures

In this Document, we talk about the Period Closing Steps and Procedures for Oracle General Ledger (Oracle GL). This is a much
awaited document that deserved submission in this Website.

You will find many resources online that talks about periods closing steps in Oracle GL but this one is most comprehensive and has step
by step instructions on how exactly to go about the closing process while keeping in mind the dependencies with other non-financial
modules (like Purchasing, Inventory, ect).

This is a Step-By-Setp guide that you can follow for the end of period closing procedures in Oracle General Ledger:

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Module Action Reports Dependencies

Inventory Closure

INV Perform General Ledger Transfer

GL Import the Inventory Batches to GL

GL Post Inventory Batches

Material Account Distribution

INV Run the report Summary

Account Analysis - (132 Char)

GL Run the report for 30104 Material for Material account

Use the Material Account Distribution Summary and the

Account Analysis - (132 Char) to reconcile Material
GL accounts

Review abnormal transactions in the expense section of

the Material Account Distribution Summary such as
GL transactions in the asset cost account

INV Close the Period

Payables Closure

AP Review all transaction to be transferred to GL

Payables Transfer to General

AP Transfer to GL, Run the report Ledger

Payables Transfer to
GL completed - FA
AP Run the report Mass Addition Create Closure can start

CE can start
GL Post AP transactions in GL reconciling

Accounts Payable Trial

AP Run the report Balance

Account Analysis - (132 Char)

GL Run the report for Trade Payables Account

Use the Accounts Payable Trial Balance and the Account

Analysis - (132 Char) to reconcile the Trade Payables
GL Account

Run Payables Transfer to General Ledger for CE CE Reconciliation

AP transactions completed

AP Close Period

Purchasing Closure

Un-invoiced Receipt Report -

This report is used to reconcile
PO Run the report the Expense AP Accrual

PO Run the report Receipts Accruals - Period-End Ensure AP is Closed

GL Import the Purchasing batch to GL

GL Post the Purchasing batch- Actual and Encumbrance

PO Close Purchasing
GL Reverse the above entries in the next period- Actual and Encumbrance

Receivables Closure

Daily transactions
AR Run the General Ledger Interface completed

CE can start
GL Post AR transactions in GL reconciling

Journal Entries Report for

Accounts Receivables account,
AR Run the Report Summary by account Yes

Account Analysis - (132 Char)

for Accounts Receivables
GL Generate the Report account

GL Reconcile the Journal Entries Report with the Account Analysis - (132 Char)

CE Reconciliation
AR Run the General Ledger Interface completed

AR Close Period

Cash Management Closure

AR and AR entries
CE Complete Reconciliation posted to GL

Fixed Asset Closure

FA Create GL Journals

GL Post FA batches in GL

FA Run the Report Cost Summary Report

FA CIP Summary Report

Cost Clearing Reconciliation

FA Report

FA Reserve Summary Report

 General Ledger - (132 Char)
for the asset cost accounts,
CIP accounts and asset
GL Run the Report clearing accounts

Reconcile Cost Summary Report with General General

Ledger - (132 Char)

Reconcile CIP Summary Report with General General

Ledger - (132 Char)

Reconcile Reserve Summary Report with General

General Ledger - (132 Char)

Use the Cost Clearing Reconciliation Report to review

the clearing accounts in the General General Ledger -
(132 Char) report

GL Closure

Run journal import to make sure that there are no entries

GL pending in the GL interface table

Ensure that all entries are posted, Actual, Encumbrance

GL and Budget

GL Ensure that all sub ledgers are reconciled and closed

Account Analysis Report

GL/ PO Reconcile Inventory AP accrual account Accrual Reconciliation Report PO is closed

Receiving account distribution

report to reconcile the entries
w/ source PO
GRP Reconciliation for
Inventory account detail report
GL/ PO/ to reconcile the entries w/
INV Reconcile Receiving (Goods in Transit) Account source INV PO and Inv closed

GL Generate FSG Reports

GL Close the period

GL If year end, perform year end encumbrance processing

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Written by :
Kishore Khatri