These are Closure Checklist for Payables Period end.
1. Complete Transactions : that means Completing all transactions for Oracle Payables:
.. Complete Invoicing and Credits
.. Complete Prepayments
.. Complete Expense Reports
.. Complete Invoice Import
you can use Invoices On Hold Report
2. Approve Invoices :The Payables Approval process is run to try to approve all unapproved invoices in the system, so that they can be paid by Oracle Payments and posted to the General Ledger
3. Complete Payments
4. Reconcile Payments/Bank Statements
5. Resolve Potential Accounting Issues
Journal Entries Report
Unaccounted Transactions Report
6. Post (GL) Payables Transactions
7. Review Accounting
Payables Accounting Process Report
Posted Invoices Register
Posted Payments Register
8. Unaccounted Transactions Sweep
9. Close Payables Period
Subledger Period Close Exceptions Report
10. Accrue Un-invoiced Receipts
11.Reconcile Payables Activity to GL
AP Trial Balance Report (Account definition, Data Mgr Program)
Third Party Balances Report
Account Analysis Report
12. Mass Addition Transfer to Assets While doing the reconcilation , you might have these issue
Transactions do not appear in Open Account Balances Listing report
Accounting does not appear in Account Analysis report
Cancelled invoices/payments result in errors in accounting and reports
Create accounting program errors
Transfer to GL program errors
These are known issues and you check with corresponding metalink note.
Make sure you should follow the best Practice Definition.
Explore the Control Account feature with Third Party Balances report.
You should avoid reversing batches (or modifying Journals) in GL, if transferred by SLA.
Always use Period Close Exception report prior to closing Periods in GL and reconciling to
Account Analysis & Trial Balance reports.
You can use only SLA or GL (not both) to create manual journal entries for subledger Transaction corrections.
It always encouraged to include all LIABILITY accounts in Open Account Balances Report