ERPstuff - Oracle EBS Community

Dear friends,

I am in the verge of closing the annual accounts. Can anybody help me in this case.

The problem is that at the year end or period end the expenses and revenue accounts are charged to Profit & Loss account and is not carried forward to the next year like Assets and Liabilities. Is there any process to be run by which Oracle automatically makes the account balance NIL or are we to create manual journal for the same?

Next is, if we close period quarterly is it treated like yearly closing or any other method is there?

Its urgent please..

Thanks

hi,
with best of my knowledge you dont need to run any process its automaticaly transfer all expense and revenue accounts(net) to retain earning...even though if adjust any account in that fiscal year to...it will
again automatically start the process again....

Thanks Khan,

when is the automatic transfer takes place, on closing the gl period? and when it will start again..I have an adjustment period after 31st March, 2007

Thanks