How to settle and reconcile Oracle EBS on a monthly basis

The Oracle system must follow a certain operation sequence when processing the monthly business.
These businesses involve the corresponding modules, including: payable module, procurement module, inventory module, receivables module, salary module, fixed assets and general ledger module.

In Oracle, the general ledger module is at the core of financial accounting. It receives financial information from other modules.
The financial information received by the general ledger must be consistent with the sub-module business to ensure that the account of the entire system is correct, so reconciliation is required.

Next, we will describe the order of closing accounts between modules and the steps to complete closing accounts between modules.

I. Oracle EBS monthly settlement and handling (AP) reconciliation order

Steps, 1. check whether all services are entered; 2. check whether there are unverified, pending invoices, reviewing and releasing; 3. Update the forward payment status when the service expires; 4. Check whether the payable business generates entries; 5. Create accounting entries and send them to the general ledger for posting; 6. confirm that all due entries are transferred to the general ledger; 7. Batch addition of creation; 8. Confirm and check the supplier balance; 9. Close the Accounting Payable period; 10. Open a new accounting period;

 

 

Ii. Oracle EBS monthly subscription (PO) reconciliation order

1. Review and confirm the purchase order; 2. Exceptions in viewing the received transaction status; 3. View and process received transactions that have not been written into the database; 4. Import and review the general ledger and post it; 5. Complete handling steps 1-6; 6. Run the "Report on Adjustment of accrued items reconstruction" and "receive receivables-Final handling "; 7. Complete handling steps 7-9; 8. Run the year-end retention process; 10. Close the procurement period; 11. Open the next procurement period;

 

 

Iii. Oracle EBS monthly inventory close/WIP reconciliation

1. process all transactions into the account; 2. Check whether the OM pick-up database is not delivered; 3. Check the inventory interface; 4. Review all transactions during inventory; 5. check whether there is no accounting for the cost of transaction processing; 6. Transfer the transaction allocation to the general ledger; 7. Check the inventory value at the end of the period and the general ledger account value; 8. Verify the WIP value; 9. Close the payable and procurement accounting period; 10. Close inventory accounting period;

 

 

4. Oracle EBS monthly settlement of AR reconciliation

1. confirm that the handling of the receivables has been completed; 2. Run the workflow background process (you can schedule the background to run ); 3. Run automatic invoicing (you can schedule scheduled operations in the background ); 4. Check that there are no records in the interface; 5. confirm that all receivables are completed; 6. confirm that all the receivables are transferred to the general ledger; 7. Transfer the receivables to the general ledger and post them; 8. Confirm and check the customer balance; 9. Close the accounting period; 10. Open a new accounting period; 11. Reduction of exchange gains and losses and handling fees;

 

V. Oracle EBS monthly salary settlement and fixed asset reconciliation

1. Check that all salary services have been completed; 2. Perform cost calculation correctly; 3. Transfer the salary entries to the general ledger; 4. Import salary entries into the general ledger; 5. Review and post unposted entries in the general ledger; 6. Complete the transaction processing of all fixed assets during the period to be settled; 7. Run the depreciation procedures for these books; 8. Generate entries-post to the general ledger;

 

Vi. Oracle EBS monthly general ledger reconciliation

1. Exchange rate maintenance; 2. Ensure that all records in the general ledger interface table have been imported as creden; 3. Ensure that all creden have been posted; 4. Run the trial balance table and confirm the balance; 5. Select a foreign currency review; 6. run regular creden; and carry forward the balance of profit and loss subjects; 7. Select the consolidated set of books; 8. Close the general ledger accounting period; 9. Open the next general ledger accounting period; 10. Run the final FSG report to close the general ledger; 11. Print and archive creden;

 

 

Reprinted from: http://bbs.itjaj.com/thread-2106-1-1.html