Period Closure for Subledgers and GL
This guide will provide the detailed step-by-step process of performing period close in the General ledger in Oracle Fusion.
To access Period close dashboard, click on the Period Close sub menu under the General Accounting menu.
Before closing the period, outstanding subledger transactions can be checked from the Outstanding Subledger Transactions by selecting the Ledger, Accounting Period, and Source.
Click on the Refresh Icon to update the transactions count.
Transactions are classified into the Unaccounted, Accounted but not Transferred, Error and Draft. A warning icon is displayed each section if there are pending transactions. Click on the warning icon to see the list of outstanding Transactions.
After verifying the Transactions, click on the Done button to return back to Period Close dashboard.
To download the exception report, click on the “Submit Subledger Period Close Exceptions Report” button.
Navigate to Scheduled Processes to check the process status. To download the report, select the Subledger Period Close Exceptions report and click on the Republish button.
Click on the Settings icon, and expand the Export to open the report in available formats.
The Subledger period close Exception report displays the summary of exception count along with ledger name and source details.
Scroll down to see the details of transactions according to each exception.
The Period closure activities can be performed through Manage Accounting Periods from the task list or from period close dashboard directly.
Select the Ledger name and Accounting period for which period close activities to be monitored. Click on the General Ledger hyperlink to open accounting period status of the General Ledger application.
At bottom of the page, period close status is shown with different icons such Open, Closed, Permanently Closed and Future Enterable. To Close the Accounting period, select the Accounting period and click on the Close Period button.
Click on the Refresh Icon to update the Period Status.
Status of the accounting period would be changed to the Close Icon.
To open the Accounting period, select the Accounting period and click on the Open Period button.
