Hi,
can you please tell me the significant differences between month end closing and year end closing in oracle r12
Thanks
Jabar
month end closing and year end closing
Difference is to close all expense and income accounts and transfer the balances to retained earning accounts. If you opt to do this, system will pass a journal voucher transferring all the balances of income and expense accounts to your retained earning accounts. So you income and expense account will be zero on year end date.
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