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Is “Sequence” Important in Closing oracle Modules at Month end

Posted on July 14th, 2007 by Sanjit Anand ||Email This Post Email This Post

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Yes.. It is important in Oracle application.

Lets start with period end sub ledger closing overview .
The period end process is performed at the end of each management accounting period in order to enable the reporting of the financial results for that period. This enables management to undertake accurate decision-making, and drives external reporting information. Normally there are 12 management accounting periods, each normally consist 5 or 4 weeks long, which are aligned and adjusted for the last week in the Year to coincide with the year end date (31st of December) and the first week in the year to coincide with in the start date of the Year Respectively. Apart from this there are 13th & 14th adjusting period for the year end set at the 31st of December.

In the period end process various steps are followed preparation, closure of sub-ledgers, the review of preliminary results, GL closure, production of reports and communication of information to users.

Is sequence important in month ending closure process

Lets start with a simple implementation site, the company has implemented Core financial products as well as entire manufacturing products in global instance and payroll is taken with another application which was interface with EBS product.

A typical data flow can be best understood as:

monthendflow

Normally the month end start sometime first Monday of week of the current month, Normal procedure is that the whole month end completes in 4-5 working days. Here are the sequence in which month end process performed.

monthend

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