Open and close accounting periods to control journal entry and journal
posting, as well as compute period-end and year-end actual and budget account
balances for reporting.
You can open and close accounting periods in two ways:
- The Open and Close Periods window
- The Open and Close Periods programs
If you have Ledger Sets defined, you can open and close periods for multiple
ledgers in a single process using the Open and Close Periods programs.
Accounting periods can have one of
the following statuses:
- Open: Journal entry and posting allowed.
- Closed: Journal entry and posting not allowed until accounting period is reopened. Reporting and inquiry allowed.
- Permanently Closed: Journal entry and posting not allowed. You cannot change this period status. Reporting and inquiry allowed.
- Never Opened: Journal entry and posting are not allowed. General Ledger assigns this status to any period preceding the first period ever opened in your calendar, or to any period that has been defined, but is not yet future-enterable. You cannot change this period status.
- Future-Entry: Journal entry is allowed, but posting is not. Your period is not yet open, but falls within the range of future-enterable periods you designated when defining your Ledger. You cannot change this period status without using the concurrent process to open the period.
Open and Close Periods Programs
You can open and close periods for a single ledger or multiple ledgers in a
ledger set with one of the following programs:
·
Periods – Open Periods: To open periods
up to and including the specified target period for one or more ledgers.
·
Periods – Close Period: To close a single
period for one or more ledgers. Only open periods can be closed.
Note: The Close Period program
completes with a warning if unposted journals exist in the period.
·
Periods – Gapless Close Period: To close
a consecutive range of open periods for one or more ledgers. This program
closes the specified period and all prior periods that are still open.
·
Periods – Permanently Close Period: To
permanently close one or more closed periods for one or more ledgers. Periods
starting from the initial period must be closed before you can permanently
close them. To permanently close a range of closed periods, the specified
period and any prior periods must have a status of Closed or Permanently
Closed.
Caution: When you permanently
close a period, all prior periods are also permanently closed and can never be
re-opened.
You can schedule your Period programs to run automatically based on
schedules you define in Oracle Applications or in General Ledger.You must have read and write access to the ledger and all of its balancing
segment values and management segment values to open and close periods.
Prerequisite:·
Define your ledger and ledger sets.
To run the Periods programs:
1. Navigate
to the Submit Request window.
2. Choose
to Submit a Single Request.
The Submit Request window appears.
3. In
the Request Name field, select one of the following Period programs:
o
Period: Open Periods
o
Period: Close Period
o
Period: Gapless Close Period
o
Period: Permanently Close Period
- Ledger/Ledger Set: Enter the name of the ledger or ledger set. You can only access ledger sets that are included in your data access set.
Note: You must have read and
write access to the ledger and all of its balancing segment
values and
management segment values to run the Period program.
- Period Name: Enter the period you want to open, close, or permanently close.
5 .Select
OK to close the Parameters window.
6. Submit
the program. A concurrent process is launched.
For a ledger set, the program launches a parent
request and separate child requests for each ledger in the ledger set. The
parent request execution report outlines all the ledgers that were processed.
