Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / mahesh .gudeti
AP PERIOD END PROCESS:
1. Complete all the invoices for the period being closed
1. complete invoices and credits
2. complete prepayments
3. complete expense reports
4. complete invoice imports
5. complete prepayments.
2. Approve and Validate all the invoices
3. Review the invoice on hold reports
4. Review the Journal entries reports
5. Review the Unaccounted Transaction reports
6. Optionally run the payment process request at the month end
7.Confirm all the payment instructions
8. Reconcile payment with bank statement
9.Transfer all invoices and payments to the GL
10. Complete internal reconcilation of payables
11. Submit the unaccounted transaction sweep progrome
12. Reconcile payable activity with GL
13. Close the oracle payable current period
14. Accure un invoiced receipts
15.Run mass additions transfer to oracle assets
16. open the next accounting period
Reconcilation in Account payable side :
there are two types...
1. AP Internal reconcilation
2. Ap transfer to GL Reconcilation
1. AP Internal reconcilation:
Here we know the opening balance and closing balace
for example : opening balance : 1000000
invoice Amount : 2000000
__________
3000000
__________
paid 800000
________
liability ( closing balance) = 2200000
___________
AP Trail balance (last balance of the current period)
+ posted invoice register
- posted payment register
= AP trail balance ( last of the current period)
2. AP To GL Reconcilation
Here we need to check the
Account ANALYSIS REPORT in GL(total of the AP Liability accounts in GL)
AP trail balance ( last of the current period).
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
explain with examples what r the roles & Responsiblities of a functional consultant who reviews the Test Scripts, Test Cases and Test Execution Results of AP, FA and GL.
what is the difference between bonus reserve and bonus expense
What is Work Flow of AP,AR, Sales & Purchase
Difference between header level tax calculation and line level tax calculation
How to Reconciliation AP to CM ? How to Reconciliation AR to CM ?
What is Difference between Auto Copy Journal and recurring journal?
While assigning the security by book in oracle assets..i am unable ot get the asset org in security profile form.This asset org was already defined in org description window.
Re: what are the Issue that we face in Gl,PO and AP while Supporting
what is the steps to customization ?
What are the inventory report to check inventory status.
In Subinventories Form, how to enable the Locator Control. A message displayed when changing the drop down list "FRM-40200: Field is protected against update.
What are the types of setups in apps inventory module
How do write a discoverer report to identify zero dollar suppliers/invoices where the supplier is on hold?
I have created an invoice and made the payment in Accounts payable. Now the payment status is Negotiable and accounting status is processed. I reconciled the transaction in Cash Mgmt, The status changed from negotiable to Reconciled in CM. I checked the payment status for the invoice in payment window(AP), the payment status changed to RECONCILED UNACCOUNTED i.e correct but the accounting status is remain processed which is not the correct. I hope the transaction will be correct if the accounting status would have changed to PERTIAL . Please suggest any solution for the above query.
Explain Customization process?
