Period End is a very critical process for any organization , after thorough verification and validation subledger periods are closed . In this article i have put down the process followed during AP Closure .
The Month End Process in Accounts Payables involves
Steps During AP Month End Closure
1)Invoices validation
2)Payment Batch Confirmation
3)creating accounting for payables categories such as Invoices and payments
4)Transferring of accounting information to GL.
a)For Invoice Validation Run the invoice validation process to validate all the invoices that are PO Matched . You can the run the process for new invoices or all invoices.
b)Payable Accounting Process
The Payable Accounting Process will create accounting entries for invoices and payments in Accounts Payable.
With Payable accounting Process you can do a transfer to GL and GL Import Simultaneously
Payable transfer to GL, transfers the accounting information from AP to the GL_INTERFACE tables and GL Import which imports subledger accounting data into GL. The import is done based on Sources and Categories
c)After running the above reports try to close the payables period. If you are unable to close the period run the
Period Close exception report .
d) Review the Output file to see any unaccounted transaction or error and correct the exceptions .
e)Rerun Payable Accounting Process after the corrections are done
f)Close the Accounting Period in Payable
Comments
In case of period end in R12 I hav a doubt, I entered one Standard Invoice and apply to a Prepayment (through Action window) with out create accouting to standard invoice after that I created the accounting but accounting status showing partial...thoug h I ran create accounting prog. could u pls suggest me in this regard and what is the use of Draft accounting in ap/ar.
Thank you,
Anil Challa
i'm a new user of ur site
can u help me on that topic
i want record in GL
'''''' undefined accounting periods in the current accounting calendar '''''''''''
help me
thanks
Could any one elaborate on Batch closure variance. What does exactly it mean & how to make it zero?
Thanks in advance.
Prasad Joshi
pgjoshi1101gmail.com
Thank you all for providing all the information and blogs, this site is very useful. I would like to thank you all keep posting....!
I can't able to open the request Payable Accounting Process and run in my responsibility. can u plz solve my issue.
I guess for now i'll settle for book-marking and adding your RSS feed to my Google account.
I look forward to brand new updates and will share this website with my Facebook
group. Chat soon!
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