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Oracle Period Close Advisor
Each sub-ledger is documented in a separate tab, shown in order of the data flow dependency. For example, Order Management feeds data into Oracle Receivables, so it is closed before closing Oracle Receivables. The nine applications addressed in the Period Close Advisor in close sequence are:
1. Order Management / Shipping
2. Cash Management / Treasury
6. Inventory / Costing
9. General Ledger
Regardless of the module being processed, the advisor breaks down the close into a series of phases:
You don’t need to have all these applications to use the Period Close Advisors. Within each application, guidance is provided for systems and the end user.
As an example, the steps in Receivables include:
Evaluate and Prepare
Create Accounting is the new process in Release 12 that creates the accounting in the Sub-ledger accounting tables and offers flexibility in how you generate your accounting. Accounting can be created immediately online or run as a process and can be generated 3 different ways:
1. Draft: The transactions accounted in draft mode can be included on accounting reports, but cannot be transferred to the General Ledger. This mode is for informational purposes only allowing you to review the accounting entries via the output report or using the Sub-ledger Accounting Inquiry screen prior to creating final entries.
2. Final: The transactions that have been accounted in Final Mode are accounted but not yet transferred to General Ledger. When using Final mode, you have the option to transfer and post to General Ledger based on the settings of the “Transfer to General Ledger” and “Post in GL” parameters.
3. Final Post: Transactions that have been accounted in Final Post are transferred to and posted in the General Ledger.
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