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PERIOD-END PROCESS IN

RECEIVABLES R12
Posted by Raju ERP
Oracle Receivables requires periodic internal reconciliation of the transactions entered into the
Accounts Receivables system. Oracle Receivables provides a comprehensive set of reports to
facilitate the reconciliation of outstanding customer balances, transactions, receipts, and account
balances. The application provides the functionality to enable reconciliation of your sub-ledger,
before posting to the General Ledger. Posting to the General Ledger allows the extraction of
details from Oracle Receivables, and the creation of journal entries in the General Ledger. After
posting to the General Ledger, it is possible to reconcile Oracle Receivables with the General
Ledger by verifying that all the correct journal entries were made.
Procedures:
The following steps are taken in performing period-end processing for Oracle Receivables.
1. Complete All Transactions for the Period Being Closed
Ensure that all transactions have been entered for the period being closed.
Completing all transactions for Oracle Receivables:
* Complete Invoicing, Credits and Adjustments
* Complete Receipts and Reversals
* Complete Invoice and Customer Import
* Complete Lock Box Processing
* Run the revenue recognition program (Optional; required if OM-shipping is used)
If you import transactions from an external system or Oracle Projects, ensure that you have
imported all transactions and master files, and reviewed all audit trails for completeness.
2. Reconcile Transaction Activity for the Period
Reconcile the transaction activity in Oracle Receivables, before posting to the General Ledger
using SLA. This reconciliation process checks that Oracle Receivables transactions are balanced,

ensuring that all items eligible for posting are reflected on the Sales Journal. Run the following
reports for the same accounting
period date range:
a. Transaction Register
This report details all the transactions (i.e. invoices, debit memos, credit memos, deposits,
guarantees and chargebacks) entered with a GL date between the period start and period end
dates, specified for the period being reconciled. This report shows transactions which were
entered and completed.
b. Sales Journal by Customer Report and the Sales Journal by GL Account Report Oracle
Financials E-Business Suite Release 12 Period End Procedures 40 This report enables the review
of all transactions for the specified period. The summary totals for the sales journal are by
Posting Status, Company, and Transaction Currency. This report details, by account type (i.e.
receivables, revenue, freight, tax), the general ledger distributions for posted and/or un-posted
invoices for the specified period. The total on the Sales Journal by GL Account should equal the
total of items eligible for posting as listed on the Transaction Register. If any discrepancies are
evident, research the customer balances to find out which balance does not tally, using the Sales
Journal by Customer report. By using the following formula, ensure that the Transaction Register
matches the Sales Journal:
Transaction Register (Items eligible for posting) + 2 * Credit Memo Total = Sales
Journal (Debits plus Credits)
E.g. $100 + (2 * $20) = Debits $120 + Credits $20
($120 Debits - $20 Credits)
Attention: The Transaction Register total for any credits must be adjusted, as they are negative
on the Transaction Register and positive on the Sales Journal.
Attention: Ensure that the monthly transaction total is accurate and that no distribution issues
exist.
c. Journal Entries Report
This report enables the review and analysis of accounting entries in the Receivables subledger, as
accounted by SLA. Using the report parameters, you can produce a detailed or summary listing

of the accounting information you want to review. The report also lists in detail, transactions that
have been accounted with error, and all entries that could not be transferred to the general ledger.
When a transaction is accounted with errors, review the details and make the necessary changes.
By altering the parameters, the report also lists those transactions, which have been posted in
general ledger, and those which are yet to be posted but have been accounted. SLA groups the
report by ledger, ledger currency, source, category, and event class. Data is then sorted by
accounting date, event type, customer name, document number, and voucher number.
Note: To avoid duplication with subledger journal entries, general ledger journal entries imported
from Subledger Accounting are not included in the report.
d. AR to GL Reconciliation Report
The AR to GL Reconciliation report compares the account balances in Oracle Receivables to
those in Oracle General Ledger, and highlights journal sources where discrepancies might exist.
This report simplifies the reconciliation process by comparing Receivables and General Ledger
account balances in a single place.
Run the AR to GL Reconciliation report:
* After the Create Accounting program in Receivables has completed, and
* You have reviewed the Unposted Items report to confirm that all journal entries have posted,
and
* You have used the posting execution reports to confirm that the journal entries exported from
Receivables match those posted in General Ledger.
Oracle Financials E-Business Suite Release 12 Period End Procedures 41
This report will show a difference between Receivables and GL account balances only if items
did not successfully post to GL accounts. The Difference column indicates how the activity in
Receivables compares to the journal source of Receivables in the General Ledger. If the actual
balance of a specific account is different in Receivables than in GL, then the following columns
highlight the type of journals that affect the account balances:
* GL Source Manual - Manual journal entries made in the General Ledger.
* GL Subledgers Not AR - Journal entries posted to the General Ledger from other subledgers,
such as Oracle Payables or a legacy feeder system.
* Unposted in GL - Unposted Oracle Receivables journals in the general ledger. During the
internal reconciliation process, use the AR Reconciliation report to confirm that your
transactional and accounting data match. However, even if the data matches, the journals could

still post to incorrect GL accounts. The Potential Reconciling Items report addresses this issue by
suggesting journal items that might potentially post to GL accounts with unexpected account
types, thus creating reconciliation issues in Oracle General Ledger.
3. Reconcile Outstanding Customer Balances
Reconcile the outstanding customer balances at the beginning of a specified period with the
ending balance for the same period, using the following formula, known as the Roll Forward
Formula:
Period-End Balance = Outstanding Balance at Start of Period + Transactions + Adjustments
Invoice Exceptions Applied Receipts Unapplied Receipts
The following list represents the various components that affect a customers balance and the
reports, which can be run and reviewed to reconcile these components:
Component Report
Beginning Balance Aging reports
Transactions Transaction Register
Adjustments Adjustment Register
Exceptions Invoice Exceptions Report
Applied Receipts
Applied Receipts Register (Identify
payments received from customers)
Unapplied
Receipts
Unapplied and Unresolved
Receipts Register (identify
payments received from customers)
Ending Balance
Aging report (as of the last day of
the accounting period)
Oracle Financials E-Business Suite Release 12 Period End Procedures 42
Attention: You can use the Invoice Exceptions Report to adjust the Transaction Register for any
transactions, which are not open in Receivables, and therefore do not show up in the aging
reports.
4. Review the Unapplied Receipts Register

Use the Unapplied Receipts Register to review detailed information about your customers onaccount and unapplied payments for the date range that you specify. You can use this report to
determine how much your customer owes after taking into account all on-account and unapplied
amounts. Receivables displays information about your on-account or unapplied payment such as
GL date, batch source, batch name, payment method, payment number, payment date, onaccount amount, and unapplied amount. This report includes both cash and miscellaneous
receipts. If any of the Receipts listed can now be applied to outstanding transactions, you can
perform this action by re-querying the receipts and following the normal application procedure.
5. Reconcile Receipts
Ensure that Oracle Receivables receipts balance by running the following reports:
a) Receipts Journal Report
This report displays details of receipts that appear in the Journal Entries Report. The Journal
Entries Report shows the receipt numbers that contribute to a particular GL account. Using the
receipt number, you can review the detailed information on the Receipts Journal Report.
b) Receipt Register
Use this report to review a list of receipts for a specified date range.
Attention: Normally the total of the Receipts Journal report should equal the total of all the
receipts in the Receipt Register for the same GL date range.
6. Reconcile Receipts to Bank Statement Activity for the Period
Once detailed bank statement information has been entered into Cash Management, the
information must be reconciled with the subledger transactions. Cash Management provides two
methods to undertake reconciliations:
a) Automatic
Bank statement details are automatically matched and reconciled with subledger transactions.
This method is ideally suited for bank accounts which have a high volume of transactions.
b) Manual

This method requires a manual match of bank statement details with subledger transactions. This
method is ideally suited to reconciling bank accounts which have a small volume of monthly
transactions. The manual reconciliation method can also be used to reconcile any bank statement
details, which could not be reconciled automatically.
7. Post to the General Ledger
Prior to posting to the General Ledger, the Receipts Journal Report and Sales Journal display the
transactions that would be posted to the General Ledger (provided the posting process was run
for the same GL date range). After internally reconciling the transactions and receipts using these
two reports, it is possible to perform external reconciliation during and after the posting process.
The posting process for Oracle Receivables involves a single step: Create Accounting This
process can be submitted from the transactions screen to account for a specific receivables
transaction or from the SRS screen to account for all receivables transactions. The accounting is
done at the ledger level and the program has the ability to transfer and import into the General
Ledger based on the parameters specified. If Create Accounting is submitted in the Final mode
without transferring it to the General Ledger, the entries will have to be transferred separately.
8. Reconcile the General Ledger Transfer Process
The Create Accounting program produces the Subledger Accounting Program report that shows
you the subledger journal entries created for successful accounting events. Compare this report to
the Journal Entries Report (run in Posted status mode) and verify that they match. Use the same
General Ledger date ranges for the Journal Entries Report and the Create Accounting program.
Create Accounting will generate a report which details the transferred transactions, transactions
in error etc. Once transactions and receipts have been transferred to the GL tables, Oracle
Receivables regards these items as having been posted within the sub-ledger. Account balances
for transactions and receipts can be reconciled by generating the Sales Journal by GL Account
Report, the Receipts Journal Report (in transaction mode) and the Journal Entries Report for
posted items. The account totals in the Sales and Receipt journals should match the
corresponding account balances in the Journal Entries Report.
Attention: The Detail by Account version of the Journal Entries Report may be the most useful
for reconciliation in this case. When running any Oracle Receivables reports that display
accounting involving
transactions that have been posted to GL, the following statements apply: If SLA final

accounting lines exist, then SLA accounting is displayed. If SLA accounting lines do not exist,
then AR distribution accounting is displayed.
9. Reconcile the Journal Import Process
Create Accounting program submits Journal Import automatically when launched in Mode =
Final and Transfer to GL = Yes. Reconcile the Journal Import by manually reviewing the
transactions in the Subledger Accounting Program Report, and comparing them with the Journal
Entries Report output. The Journal Entries Report is a new Subledger Accounting BI Publisher
report which is available from the subledger applications and can be run with parameter Posted =
Yes, No or ALL, which users can copy and modify the report template according to their needs.
Attention: If the customer is using Reporting/Accounting sequences, they can run Journal Entries
Report using Sequence Ranges created in the Create Accounting program run, and compare the
total with the Journal Import Execution Report.
10. Print Invoices
Once you are satisfied that the customer balances are reconciled, ensure all the invoices
generated during the month have been printed and issued. If the Balance Forward Billing
functionality is used, ensure that the consolidated (BFB) invoices have been generated for the
current period.
Note: Balance Forward Billing replaces consolidated billing invoices (CBI) feature of 11i. For
more information on the setup of balance forward billing, refer to the Oracle Receivables
Implementation Guide or the Oracle Receivables User Guide.
11. Close the Current Oracle Receivables Period
Close the current period in Oracle Receivables using the Open/Close Accounting Periods
window.
Attention: Where there are multiple operating units within the same ledger all operating units
must be ready to close at the same time. All of the operating units that share a ledger also share
the same period statuses. When you update the period statuses to Open in one operating unit,
that period is opened for all
operating units within the ledger.
12. Review the Subledger Period Close Exceptions Report

The Subledger Period Close Exceptions Report lists all the accounting events and journal entries
that fail period close validation. It is automatically submitted by General Ledger when closing a
GL period if there are unprocessed accounting events or un-transferred journal entries.
You can also generate the Subledger Period Close Exceptions Report through a concurrent
request as follows:
* For the application associated with the responsibility
* For all applications in the General Ledger responsibility
13. Third Party Balances Report
Run Third Party Balances Report from the SRS screen.
This report is used to display balance and account activity information for Suppliers and
Customers. It retrieves the following information:
* Third party balances for third party control accounts
* Subledger journal entry lines that add up to the total period activity for each control account,
third party, and third party site
* Third party and third party site information
* User transaction identifiers for the associated event
The balances in this report can be compared with the General Ledger balances for the same
control accounts to reconcile.
14. Reconcile Posted Journal Entries
After running the GL posting process in Oracle General Ledger, for the transactions, which were
transferred in FINAL mode and with Post in GL being set to NO, run the Journal Entries Report
(with Posted = Y) to help reconcile the posted journals.
15. Review the Unposted Items Report
Oracle Receivables prints the Unposted Items Report for all items that are not posted for the
specified GL date range. Run the request from the Submit Requests window. The output will
consist of all items not posted to the General Ledger for the specified GL date range. Using the
Submit Requests window to generate this report, submit with a GL date range for at least the
current financial year. This report should not generate any output if all Receivables transactions
have been successfully posted to the General Ledger. If there are any items not posted for the
current or prior periods, then re-open both appropriate Receivables and General Ledger Periods
and initiate another posting.

16. Review Account Analysis Report


The Account Analysis Report provides drill-down information about the activities relating to a
particular account for a period or range of periods. It only includes journal entries transferred to
and posted to the General Ledger. Review this report and compare it with the Third Party
balances report.
Note: To avoid duplication with subledger journal entries, General Ledger journal entries
imported from Subledger Accounting are not included in the report.
17. Open the Next Oracle Receivables Period
Open the next period in Oracle Receivables using the Open/Close Accounting Periods window.
18. Run Reports for Tax Reporting Purposes (Optional)
A variety of standard reports can be used to provide tax information, which is required to be
reported to the relevant Tax Authority, including withholding tax. The E-Business Tax data
extract draws tax information from each application and stores the data in an interface table.
Output from the tax extract is designed to look as close to a simple tax report as possible.
The following tax registers are available:
a) Deferred Output Tax Register
b) Recoverable and Non-Recoverable Tax Registers
c) Single Cross Product Tax Register
d) Standard Input and Output Tax Registers
The following summary levels are available within each Tax Register:
* Transaction Header
* Transaction Line
* Accounting Line

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