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1 Reply Latest reply: Jun 17, 2013 11:32 AM by Corney RSS

having multiple open periods in GL

Corney Newbie
Currently Being Moderated

what is the best practice for closing periods in GL when:

a)  you have 48 open open periods

b)  22000 unposted journals (Some mass allocation, some imported from spreadsheets) varying from early as 2002.

c) no evidence that close process for Create Balance Sheet and/or Income state closing was run.

e) calendar year = fiscal calendar

 

I did test closing a period (jan-13) and except for a warning message of unposted journals, no issues.  I am concerned that if we close the periods out of sync, it will affect closing balances and I am not sure if we have to run the Create Process (point c) concurrent reports again

 

Thanks

  • 1. Re: having multiple open periods in GL
    ThAn Explorer
    Currently Being Moderated

    Hi,

     

    sure will the closing of past periods affect your current balances, as they require

    posting the open journals. And if doing so, changes are made to the balances

    and balances on balance accounts of previous years are impacting opening
    balance in the following year.

    Apart from your situation closing oldest periods is always best practice, if one

    financial year is finished, you should first close your subledgers - as a general
    approach first the SCM modules (if you use some of them), then the financials
    subledgers (FA, AP, AR) - and finally the GL.

    As a good starting point take a look at MOS Document

    EBS R12 Period Close Advisor Overview [ID 1357499.1]

     

    There are additional Advisors giving you more detailed information:

    EBS R12 Period Close Advisor: Order Management and Shipping[Article ID 1359451.1]

    EBS R12 Period Close Advisor: Inventory & Costing[Article ID 1359452.1]

    EBS R12 Period Close Advisor: Purchasing[Article ID 1359462.1]

    EBS R12 Period Close Advisor: Receivables[Article ID 1359460.1]

    EBS R12 Period Close Advisor: Assets[Article ID 1359475.1]

    EBS R12 Period Close Advisor: Payables[Article ID 1359450.1]

    R12: Period Close Helper - Diagnostic to Validate Data Before Period Close[Article ID 1489381.1]

     

    Regards

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