Oracle R12 Apps – Accounting Period Opening

Oracle R12 Apps – Accounting Period Opening

Opening & Closing the Accounting period is to control the Journal entry and Journal posting as well as compute period- and year-end actual and budget account balances for reporting.

This post explains how to open the below Accounting periods:

1. GL Period

2. AR Period

3. AP Period

4. Inventory Period

5. Purchasing Period

1. GL Period:

Navigation:

General Ledger Super User Responsibility > Setup > Open/Close

Select the period which is to be opened & change the status as Open.

Accounting periods can have one of the following statuses:

Open: Journal entry and posting allowed.

Closed: Journal entry and posting not allowed until accounting period is reopened. Reporting and inquiry allowed.

Permanently Closed: Journal entry and posting not allowed. This period status cannot be changed. Reporting and inquiry allowed.

Never Opened: Journal entry and posting are not allowed. General Ledger assigns this status to any period preceding the first period ever opened in the calendar, or to any period that has been defined, but is not yet future-enterable. This period status cannot be changed.

Future-Entry: Journal entry is allowed, but posting is not. This period is not yet open, but falls within the range of future-enterable periods designated in the Set of Books window. This period status cannot be changed without using the concurrent process to open the period.

2. AR Period:

Navigation:

India Local Receivables Responsibility > Control > Accounting > Open/Close Periods

Select the period which is to be opened & change the status as Open.

Accounting period can have one of the following statuses:

Open: Transaction entry and posting are allowed.

Closed: Posting and transaction entry are not allowed unless the accounting period is reopened. Receivables verifies that there are no unposted items in this period. Receivables does not let close a period that contains unposted items.

Close Pending: Similar to Closed, but does not validate for Unposted items. Posting and transaction entry are not allowed unless the accounting period is reopened.

Future: This period is not yet open, but user can enter transactions in this period. However cannot post in this period until the period is opened.

Not Opened: This period has never been opened but user can enter transactions in this period. However, user cannot post in this period until the period is opened.

3. AP Period:

Navigation:

India Local Payables Responsibility > Oracle Payables > Accounting > Control Payables Periods

Select the period which is to be opened & change the status as Open.

In the Control Payables Periods window update the Period Status to one of the following:

Open: User can record transactions and account for them in an Open period. This period cannot be opened, if it is an adjusting period.

Closed: Payables does not allow transaction processing in a closed period. A Closed period can be reopened if the corresponding general ledger and purchasing periods are also open.

Permanently Closed: Payables does not allow transaction processing in a Permanently Closed period. A Permanently Closed period cannot be reopened.

Future: Payables allows invoice entry and accounting in a Future period. Payables does not allow payment entry or payment voiding in a Future period.

4. Inventory Period:

Navigation:

India Local Inventory Responsibility > Oracle Inventory > Accounting Close Cycle > Inventory Accounting Periods

Select the organization, period to be opened & click the Change Status Button.

5. Purchasing Period:

Navigation:

India Local Purchasing Responsibility > Oracle Purchasing > Setup > Financials > Accounting > Control Purchasing Periods

Select the Operating unit, Period to be opened & change the Period Status.

In the Period Status field, the following options are available:

Open: This option is used to open this purchasing period.

Closed: This option is used to close this purchasing period. When user closes a purchasing period, Purchasing does not allow further accruals during this period. Purchasing reverses the status of accrued purchase order lines so that user can accrue them in the next period if they want.

Future: This option is used if user want to open this purchase period in the future. This option is available only when the current status is Never Opened.

Never Opened: Purchasing displays this default status if this period is not opened in the past.

Permanently Closed: This option is used if this period doesn’t want to open in the future. This option is irreversible.