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Closing process - in finance [message #221131]

Sat, 24 February 2007 03:28

venkatesan_vs
Messages: 29
Registered: December 2006
Location: CHENNAI

Junior Member

Closing process of Payables

Confirming or canceling the pending payment batches.
Run Payable Accounting Process
Run Unaccounted Transaction report, to check for unaccounted transactions.
Run Payables Transfer to general ledger.
Invoice Register
Payment Register
Sweep unaccounted transaction to next period.
Close the AP period
Open the next AP period.

Import data from GL interface table.
Post these imported Journal entries to general ledger
Run Payable reconciliation report - To make sure that your balance reconcile with general ledger.

Closing process of Receivable

Complete the manual invoices, credit memos & correction for the period
Complete the manual payments and adjustment for the period
Complete the final lockbox process
Run the final auto invoice interface
Correct all the auto invoice rejects and re-run.
Confirm that there are no unapproved adjustments. If found approved or reject.
Complete or delete �All� incomplete transactions.
Run the journal entries reports.
Review the journal entries report for �unusual� accounts and correct as needed.
Run GL interface program
Importing the journal entries to General ledger
Post these imported journal entries
Run the un posted items report � verify that there are no un posted items.
Run the receivable reconciliation report to make sure that you balance with receivables.
Close accounting period in receivables
Open the next accounting period in receivable

thanks
venkatesan

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Re: Closing process - in finance [message #221151 is a reply to message #221131]

Sat, 24 February 2007 08:16

prashant_pathak
Messages: 263
Registered: February 2006
Location: California,US

Senior Member

Thanks for Sharing the info.

Here is more detail about closing process.

Closing Process

Thanks & Regards
Prashant Pathak

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Re: Closing process - in finance [message #221300 is a reply to message #221151]

Mon, 26 February 2007 03:50

kumar_apps
Messages: 51
Registered: November 2006
Location: hyderabad

Member

Thank u naveen

regards
kumar

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Re: Closing process - in finance [message #291091 is a reply to message #221131]

Thu, 03 January 2008 00:16

yanfuju_1979
Messages: 42
Registered: October 2006

Member

Hi venkatesan,

i hava one cancelled and Partial accounted invoice .SO I can not close this period .

can i run :unaccounted transaction sweep program?

for one of accounted line transfered to GL status is Yes.

so i am not confirm.

can you tell me something or guid me.

Regards
Jill yan

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Re: Closing process - in finance [message #292851 is a reply to message #291091]

Thu, 10 January 2008 01:01

milind3112
Messages: 42
Registered: July 2006
Location: Pune

Member

Hi Jill,

First you have to complte the AP transaction means go & update the invoice which status should come successful. After that run the report unaccounted transaction & view these accounting entries in in GL unaccounted entries & u can edit these entries & post the transaction.
Now you will be able to close the period.

Rgs
Milind
milind3112@gmail.com

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Re: Closing process - in finance [message #292856 is a reply to message #292851]

Thu, 10 January 2008 01:17

yanfuju_1979
Messages: 42
Registered: October 2006

Member

Hi Milind,

yes i tried to run :unaccounted transaction sweep program and sweep the unaccounted line to next period.
luckly ,it goes well . i post it to GL and close period successful.

but i have another development question ,can you think about for me .

http://www.orafaq.com/forum/m/292785/94712/#msg_292785

Best Regards
Jill yan

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Re: Closing process - in finance [message #292907 is a reply to message #292856]

Thu, 10 January 2008 02:49

milind3112
Messages: 42
Registered: July 2006
Location: Pune

Member

Hi Jill,

I don't have instance available to test your files.

Best Rgs

Milind

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Re: Closing process - in finance [message #292929 is a reply to message #292907]

Thu, 10 January 2008 03:23

yanfuju_1979
Messages: 42
Registered: October 2006

Member

Hi Milind ,

you have no enviroment to test for me,anyhow thanks for your kindly reply.

so difficult thing ,i nearly give up .
keep on thinking ,thinking....

Regards
Jill yan

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