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 Period Close Procedures in Oracle ERP Cloud

 

What are the dependencies for Period Close:

  1. Close Payables before closing Procurement to take into account the purchasing accruals at period end to accrue expenses on un-invoiced receipts.
  2. Close Payables before closing Inventory to ensure the un-invoiced accrual entry is accurate.
  3. Close Payables before closing Fixed Assets to ensure invoices are completed and capital invoice line distributions are transferred from Payables to Fixed Assets.
  4. Close Payables before closing Projects to ensure invoices and expense reports are completed and transferred to Projects.
  5. Close Procurement before closing Inventory to allow miscellaneous transaction corrections in Inventory.
  6. Close Inventory before closing Projects so that Project-related inventory transactions are completed and imported into Projects.
  7. Transfer all relevant Project costs to Fixed Assets and transfer revenue to Receivables before closing Fixed Assets and Receivables.
  8. Close all subledger applications before closing General Ledger.
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