periods end process ?

[muthyala]

what is process of the period end ?

Rgds
Muthyala

[muthyala]

I Thought

period end Process : Every year ending we are doing some process

1.Enter,Import,Generate and post journal entries.
2.In ur organization having the foreign currency journals on that time we have to run the Revalution Report.
3.Translation(Transfer from foreign Currency Journals to Fuctional Currency.
4.Consolidation OR (MRC)if we are using the MRC. on the time no need to run consolidation.
5.closing The Current Periods.
6Run Period end (FSG) Reports
6.Analyze The Results.

If want Close the periods to analyze the periods,closing results using a packagesuch a Oracle Financial Analyzer.

Any changes pls Made it....

Rgds
Muthyala

[abhgaur@gmail.com]

I think a period close requires the following process

1) Close the Sub Ledger - modules

Inventory - all material is costed and accounting posted to GL,

Payables - all invoices entered , accounted . All Issues resolved and if there are some holds due to real business then Sweep them.

Purchasing - All material Received , All Accrual entries posted and for Expenses Accruals are done .

Projects - All Billing have been transferred to AR and cost transferred from Inventory & Payables to Projects

Assets - All Assets transactions are process and corresponding depreciation is also processed.

Receivables - All Invoices and Receipts are processed. No Auto invoice pending transactions and no Incomplete transactions. Accounting also transferred to GL

2) Thereafter reconcile the sub ledgers to General Ledgers
Inventory - Inventory A/c
Payables - Liability
Receivables - Receivables
Projects - Revenues
Purchasing - Accruals, IPV and PPV (if Standard Costing)


3) Then concentrate on GL ....like
Ensuring all transactions are posted , Allocations , Provisions .
Revalue if you are using multiple currencies
Translate if you would be consolidating these entries further

Then comes the point where we report . That can be done either through FSG or some other tool.

4) Also at the year end there are further options to transfer Income Expense and Balance Sheet accounts

Thanks
Abhishek