Year End Process Banking Industry

Hi,

My client is in a banking industry and we are already in the year end process. Please see below details;

1. Having 3 ledgers, 2 is transactional and 1 is the consolidating ledger.

2. We are using Average and Standard Balances

3. Current open period- DEC, ADJ, JAN

4. Year End process- Income Statement/Balance Sheet closed is submitted in ADJ period. Income Statement Close and Balance Sheet Close is submitted 3 times or more depending if all the adjusting entries are already complete.

My clarifications are;

1. As per oracle document, if we have already submitted the Income Statement close but needs to record additional transactions, we need to reverse the original entries and proceed with the adjustment. However, if we do this process, there will be too many entry and reversal of income statement close which the client doesn't wants to see. They want that only the additional adjustment or change should be processed or recorded on the second run of the income statement close. Is this possible? Can you please share the configuration details.