Closing the inventory

[mshehata]

Hi all my Dears,

What are the steps of closing the inventory?

[usman_vibrant]

Inventory/WIP
1. Complete All Transactions for the Period Being Closed.
2. Check Inventory and Work In Process Transaction Interfaces.
3. Check Oracle Order Management Transaction Process.
4. Review Inventory Transactions.
5. Balance the Perpetual Inventory.
6. Validate Work In Process Inventory.
7. Transfer Summary or Detail Transactions
Close the Current Oracle Payables and Oracle Purchasing Periods 8.
9. Close the Current Inventory Period
10. Open the Next Inventory Period
11. Run Standard Period End Reports (Optional)