AP Closing Process

The process to close an accounting period has changed in release 11i. The
form to control the status of an accounting period has been renamed from
“AP Accounting Periods” to “Control Payables Periods”. Its location in the
navigator has also changed. It has moved from the Setup section into the new
Accounting section of the menu.

The rules to close a period in Payables in release 11i are:


All payment batches must be confirmed
All transactions must be accounted
All accounting entries must be transferred to general ledger
All future dated payments which have reached maturity in the accounting


period must have their status updated to negotiable and be accounted
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Optionally, unaccounted transactions can be swept to the next accounting period (if
allowed by accounting rules).

There is a new program in 11i to support this called the
"Unaccounted Transactions Sweep".

This program can be submitted from the "Control
Payables Periods" form in both a review mode and an update mode. The program can
be called only if there are any unaccounted transactions in the period.

This new program replaces the "Unposted Invoice and Payment Sweep".
Before invoices can be accounted they must be approved by the Payables Approval
process.

Before payments can be accounted they must pass through the Confirm
process.

Typical steps to close a period in Payables release 11i are:

. Import all invoices and/or expense reports from AP Interface tables
. Run Approval
. Confirm any outstanding payment batches
. Run the Update Matured Future Payment Status program for any future
dated payments
. Run the Payables Accounting Process
. Review the accounting process output and correct any accounting errors
. Review the Unaccounted Transactions Report to identify transactions
which cannot be accounted
. Correct any transaction data and run the Payables Accounting Process again
. Review the Payables Account Analysis Report (This report replaces the
Expense Distribution Detail Report)
. Run the Payables Transfer to General Ledger
. Optionally run the Unaccounted Transactions Sweep
. Close the Payables period
. Reconcile AP to GL