Oracle general ledger year-end settlement process

Zookeeper

1. The year-end settlement process in the Oracle general ledger application is included in the program during the enabling/disabling process. When the user starts the first period of the New Year, the "gloire" Process in the program during the start/close period will complete the transfer of all the income and expenditure (profit and loss statement) account balance to the REA).

The program then sets the starting balance of these income and expense accounts in the first period of the New Year to 0. These processes do not create journals, but simply update the account balance during the new period. Actual balances for other types of accounts-assets, liabilities, and owner equity (balance sheet) are shifted to the New Year.

Note: It is important to check whether there is a wrong account category (incorrect combination of accounts and accounts) before opening the new year.

To help identify wrong account categories, run the diagnostic tool of the General Ledger: incorrect account category activity script Note: 1416402.1

2. You can start a 'new' year after completing all the processing procedures of the previous year <internal only you can complete all the processing procedures of the previous year>. This allows the sub-ledger processing process to continue normal work. If the first period of the New Year falls between the Import Period of the New Year and the start period of the New Year, when the journal is transferred to the previous period of the "latest start period. The transfer program rolls the actual balance to all the periods that have been opened before the meeting, in order to update the remaining income balance,

Note: Too early activation of the first period of the new year will lead to a reduction in transmission performance. This is because the transfer program will roll to all affected account balances before the meeting to all the starting periods <internal only to all the previously opened future periods>.

3. during the process of enabling/disabling a program, the "gloire" process confirms a valid value for each balanced segment that has been active for the previous year, the activated retention benefit account (including the accounts with no active funds but balances in the GL_BALANCES table ). The process requires that the final net transaction processing for these retention benefit accounts even if a balance segment value is 0.

4. Before starting the first period of the New Year, take the following steps to "close" the previous year:

1. Back up the database.

2. Check the next calendar year and the defined period.

3. reports that should be run during the close period. If you need to view more reports for year-end settlement, run them in sequence. There is no "year-end" report in the general ledger.

5. After completing the above steps, start the first period of the new year. After the process is completed successfully, check the trial balance report for the New Year and ensure that the initial balance of all income and expenditure accounts is 0.

Note: If you have any questions about the opening balance, use the analysis script in Note.1416402.1.

6. If the company requires that accounting entries be generated at the end of the year, the annual closing process should be run:

"Close process-create a profit and loss statement to close the journal"-an accounting entry will be created to carry forward the balance to the remaining income account.

Close process-create a balance sheet to close the journals-transfer the balance to the next year.

7. If the user has any income or expense account, the majority of the accounts are incorrect. Check that all accounts are set to the correct account type (for example, income or expenditure ).

Check account type path: GL-> Settings => Finance => elastic domain => key => Value

Query the account value and tab it to the Section qualified word window. The Account type is displayed in this window. If the account type is incorrect, follow the "misclassified Account type" document. This document can be found under the maintenance heading in the general ledger User Guide (this process applies to 11i and R12 ).

You must also check the account category in the account combination. If there is an incorrect account category segment value (usually a expense class), there will also be an incorrect account category accounting category combination, only correcting the segment value does not correct the account combination.

8. Only the actual balance will be automatically carried over to the new year. The retention and budget balances need to run the retention and budget balance year settlement process to transfer data to the new year.

9. Use the annual check list in the User Guide to check the annual closing process in the general ledger.