Oracle Inventory Period closing
This procedure covers all the
process involving all activities required to post inventory transactions to the
general ledger and close inventory.
·
Process all stock issues.
·
Process all stock adjustments.
2. Verify
there are no unprocessed transaction interfaces.
·
Check the Transactions Interface and
correct any rejected transactions.
·
Check the Internal Transactions Interface
and correct any rejected transactions.
·
Check the Demand Interface and correct any
rejected transactions.
3. Process
all sales order shipments.
4. Verify
that all sales order issues have been completed and transferred successfully to
Oracle Inventory.
5. Determine
if any additional inventory transactions are required.
·
Transfer inventory transactions to the
General Ledger.
·
Review interface transactions and inventory
activity on the report generated from running the Transfer Transactions to GL
process.
·
Research and resolve all issues.
It is critical that all issues are
identified and resolved prior to the close of inventory periods since periods
cannot be re-opened once closed.
6. Balance
perpetual inventory to the General Ledger.
·
Run the Oracle Inventory reports required
for balancing perpetual inventory to the General Ledger.
Run the following Oracle Inventory reports:
-
Inventory Value Report
-
Period Close Value Summary Report
-
Material Account Distribution Detail Report
-
Material Account Distribution Summary
Report
·
Run the Oracle General Ledger Account Analysis
Report or General Ledger Report for your inventory valuation accounts.
·
Match balances on the Inventory Value
Report to the General Ledger report.
·
Use the Period Close Value Summary Report
to review summary balances for sub-inventories.
·
Use the Material Account Distribution
Detail Report to review the General Ledger accounts charged for inventory
transactions.
·
Use the Material Account Distribution
Summary Report to review inventory account activity against inventory account
valuation increases or decreases for the accounting period.
If you detect unusual accounts or amounts
use the Material Account Distribution Detail Report to research transaction
detail.
7. Close
the inventory period for each defined Inventory Organization.
N >
Accounting Close Cycle> Inventory Accounting Periods
Inventory
Accounting Periods
Closing the inventory period using the Inventory
Accounting Periods window automatically transfers summary transactions to the
General Ledger interface tables, so any transactions generated from tasks #5
and #6 will be interfaced.
8. Open
the next inventory period for each Inventory Organization defined.
N >
Accounting Close Cycle> Inventory Accounting Periods
Inventory
Accounting Periods
9. Perform
the final Inventory to General Ledger reconciliation.
·
Run the Oracle Inventory reports required
for balancing perpetual inventory to the General Ledger.
Run the following Oracle Inventory reports:
-
Inventory Value Report
-
Period Close Value Summary Report
-
Material Account Distribution Detail Report
-
Material Account Distribution Summary
Report
·
Run the Oracle General Ledger Account
Analysis Report or General Ledger Report for your inventory valuation accounts.
·
Match balances on the Inventory Value
Report to the General Ledger report.
·
Use the Period Close Value Summary Report
to review summary balances for sub-inventories.
·
Use the Material Account Distribution
Detail Report to review the General Ledger accounts charged for inventory
transactions.
·
Use the Material Account Distribution
Summary Report to review inventory account activity against inventory account
valuation increases or decreases for the accounting period.
If you detect unusual accounts or amounts
use the Material Account Distribution Detail Report to research transaction
detail.
2 comments:
Excellent article, but there is no wat to copy or print it , can you pl help //thanks//Sundar
I appreciate for this excellent articles /content/downloads. however unable to copy or download few contents to prepare.
Post a Comment