Period Close Process In AP

1. Complete All Transactions for the Period Being Closed.
2. Run the Payables Approval Process for All Invoices
3. Review and Resolve Amounts to Post to the General Ledger
4. Reconcile Payments to Bank Statement Activity for the Period.
5. Transfer All Approved Invoices and Payments to the General Ledger.
6. Review the Payables to General Ledger Posting process After Completion.
7. Submit the Unaccounted Transactions Sweep Program.
8. Close the Current Oracle Payables Period
9. Accrue Uninvoiced Receipts.
10. Reconcile Oracle Payables Activity for the Period.
11. Run Mass Additions Transfer to Oracle Assets
12. Open the Next Oracle Payables Period .
13. Run Reports for Tax Reporting Purposes (Optional).
14. Run the Key Indicators Report (Optional)