Saturday, January 28, 2012

Period Close Process In PO

1. Complete All Transactions for the Period Being Closed.
2. Review the Current and Future Commitments (Optional).
3. Review the Outstanding and Overdue Purchase Orders (Optional).
4. Follow Up Receipts - Check With Suppliers .
5. Identify and Review Un-invoiced Receipts (Period-End Accruals)
6. Follow Up on Outstanding Invoices
7. Complete the Oracle Payables Period-End Process
8. Run the Receipt Accruals - Period End Process
9. Reconcile Accrual Accounts - Perpetual Accruals
10. Perform Year End Encumbrance Processing (Optional)
11. Close the Current Oracle Purchasing Period.
12. Open the Next Oracle Purchasing Period .
13. Run Standard Period End Reports (Optional).

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