AR Closing Process

on Tuesday, 01 January 2013. Posted in Blog, Oracle Financial Applications

 

Some of these steps are optional, but within most organizations the process should be as follows:
 
·         Complete All Transactions for the Period Being Closed
·         Reconcile Transaction Activity for the Period
·         Reconcile Outstanding Customer Balances
 ·         Review the Unapplied Receipts Register
·         Reconcile receipts.
 ·         Reconcile Receipts to Bank Statement Activity for the Period
 ·         Post to the General Ledger
·         Reconcile the General Ledger Transfer Process
·         Reconcile the Journal Import Process
·         Print Invoices
·         Print Statements (Optional)
·         Print Dunning Letters (Optional)
·         Close the Current Oracle Receivables Period
·         Reconcile Posted Journal Entries
·         Review Items that are not posted Report
·         Open the Next Oracle Receivables Period
·         Run Reports for Tax Reporting Purposes (Optional)
·        Run Archive and Purge programs (Optional)
 

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