Period Close Dependencies
In this article, you will understand, what are the Period Close Procedures in Oracle ERP Cloud. Before you begin the period-end close process, you need to understand the dependencies between the Oracle ERP Cloud application modules. The relationships are displayed in this diagram.
What are the dependencies for Period Close:
- Close Payables before closing Procurement to take into account the purchasing accruals at period end to accrue expenses on un-invoiced receipts.
- Close Payables before closing Inventory to ensure the un-invoiced accrual entry is accurate.
- Close Payables before closing Fixed Assets to ensure invoices are completed and capital invoice line distributions are transferred from Payables to Fixed Assets.
- Close Payables before closing Projects to ensure invoices and expense reports are completed and transferred to Projects.
- Close Procurement before closing Inventory to allow miscellaneous transaction corrections in Inventory.
- Close Inventory before closing Projects so that Project-related inventory transactions are completed and imported into Projects.
- Transfer all relevant Project costs to Fixed Assets and transfer revenue to Receivables before closing Fixed Assets and Receivables.
- Close all subledger applications before closing General Ledger.