Oracle AP Period Closure and Reconciliation- Oracle EBS R12

https://aporaclepayables.blogspot.com/2019/04/oracle-ap-period-closure-and.html

Before Period Closure Check List Items Oracle Processes Ensure that all AP Interfaces are Processed Run Custom Interface Processes Ensure that there is no Data in AP Invoice Interface and if there is any Data, Import the same Payables Open Interface Import Program Ensure that all required Expense reports which are approved are audited and Imported into AP Expense Report Export Program Ensure that all Invoices are Validated, Accounted and transferred to GL Invoice Validation, Create Accounting Ensure that all required PPR Processes are either confirmed or cancelled Oracle Payment Process Request Ensure that Asset Purchase related to AP Invoices are Interfaced to AP Module Oracle Mass Addition Process Ensure that there are no Exceptions for the period under Subledger Exceptions Reports Oracle Subledger Exception Report

Close the period, if there are Exceptions, then system will give an Option to Sweep he Transactions to the Next Period

After Period Closure: Internal Reconciliation

Previous Month AP TB + Current Month Payables Posted Invoice Register - Current Month Payables Posted Payment Register = Current Month AP TB

External Reconciliation

Run AP Trial Balance Report and the Balance in this Report should match with GL Account Inquiry for AP Liability Account For Example: A JUL-18 AP TB                 1,656,600.00 B AUG-18 Payables Posted invoices Register                       40,000.00 C AUG-18 Payables Posted Payments Register                       25,000.00 D AUG-18 AP TB (A+B-C)                 1,671,600.00

Some Common Reasons for Reconciliation issue between AP and GL: AP related Journal entries are deleted in GL before Posting Manual entries are passed directly in GL using AP Liability Account AP related Transactions are transferred to GL  but not yet Posted AP related Journals are Updated (for some reason) in GL before Posting Revaluation Journals in GL AP related Journal are Reversed in GL after Posting AP related Journals Stucked in GL Interface for some Reason