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February 15, 2016

2/15/2016 12:26:00 PM
Oracle Applications :Receivables Period End closing

At the end  off each accounting period , companies  must complete the  closing process in Receivables

1)Review, balance,and reconcile AR transactions                   
2)Review transfer Oracle
3) Post journal   results, and resolve entries in GL  transfer issues General Ledger

Balancing Accounts Receivable Transactions

Before initiating transfer to the general ledger, use standard reports to:
Reconcile receipts
Reconcile journals
Reconcile transactions
Reconcile customer balances

Month end balance=outstanding balance at the end of the month+transactions-receipts

Generating Reconciliation Reports

Run reports from the Print Accounting Reports
window or run as concurrent processes from the Submit Requests window.

  • Use the Aging Report as of the last date of the prior month to get the outstanding opening balance.
  • Use the Transaction Detail Report to identify invoices, debit memos, credit memos, deposits, guarantees, and charge backs that increase the outstanding opening balance.
  • Use the Adjustment Register to identify any adjustments that affect the transactions for the month.
  • Use the Invoice Exception Report to reduce the outstanding amount where transactions do not update customers accounts.

These transactions appear in the Transaction Register, but not on the Aging reports.
Use the unapplied Receipt and Applied Receipt registers to identify the payments received from customers.

These reduce the outstanding customer balances.

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