Payables Period Closing Checklist

 

Step	Description	Required/ Optional
1	Complete All Transactions for the Period Being Closed	Required
2	Run the Payables AutoApproval Process for All Invoices / Invoice Batches	Required
3	Review & Resolve Amounts to Post to the General Ledger	Required
4	Reconcile Payments to Bank Statement Activity for the Period	Required
5	Create Payables Accounting Entries and Transfer All Approved Invoices and Payments to the General Ledger	Required
6	Review the Posted Invoices and Payments Reports	Required
7	Submit the Unaccounted Transactions Sweep Program	Required
8	Close the Current Oracle Payables Period	Required
9	Accrue Uninvoiced Receipts	Required
10	Reconcile Oracle Payables Activity for the Period	Required
11	Run Mass Additions Transfer to Oracle Assets	Required
12	Open the Next Payables Period	Required
13	Run Reports for Tax Reporting Purposes (Optional)	Optional
14	Run the Key Indicators Report (Optional)	Optional