Friday Jun 28, 2013

Create a Smoother Period Close

Untitled Document

Do You Use Oracle E-Business Suite Products Involved in Accounting Period Closes?

GPIcon We understand that closing the periods in your system at the end of an accounting period enables your company to make the right business decisions. We also know this requires prior preparation, good procedures, and quality data.

To help you meet that need, Oracle E-Business Suite’s proactive support team developed the Period Close Advisor to help your organization conduct a smooth period close for its Oracle E-Business Suite 12 products. The Period Close Advisor is composed of logical steps you can follow, aligned by the business requirement flow. It will help with an orderly close of the product sub-ledgers before posting to the General Ledger. It combines recommendations and industry best practices with tips from subject matter experts for troubleshooting. You will find patches needed and references to assist you during each phase.

Get to know the E-Business Suite Period Close Advisor

The Period Close Advisor does more than help the users of Oracle E-Business Suite products close their period. You can use it before and throughout the period to stay on track. Proactively it assists you as you set up your company’s period close process. During the period, it helps evaluate your system’s readiness for initiating the period close procedures and prepare the system for a smooth period close experience. The Period Close Advisor gets you to answers when you have questions and gives you the latest news from us on Oracle E-Business Suite’s period close. The Period Close Advisor is the right place to start.

How to Use the E-Business Suite Period Close

The Period Close Advisor graphically guides you through your period close. The tabs show you the products (also called applications or sub-ledgers) covered, and the product order required for the processing to handle any dependencies between the products. Users of all the products it covers can benefit from the information it contains.

Structure of the Period Close Advisor

Clicking on a tab gives you the details for that particular step in the process. This includes an overview, showing how the products fit into the overall period close process, and step-by-step information on each phase needed to complete the period close for the tab. You will also find multimedia training and related resources you can access if you need more information.
PCA Tabs

Once you click on any of the phases, you see guidance for that phase. This can include:

OM & Shipping Tab

  • Tips from the subject-matter experts—here are examples from a Cash Management specialist:
    • “For organizations with high transaction volumes bank statements should be loaded and reconciled on a daily basis.”
    • “The automatic reconciliation process can be set up to create miscellaneous transactions automatically.”
  • References to useful Knowledge Base documents:
    • Information Centers for the products and features
    • FAQs on functionality
    • Known Issues and patches with both the errors and their solutions
    • How-to documents that explain in detail how to use a feature or complete a process
    • White papers that give overview of a feature, list setup required to use the feature, etc.
  • Links to diagnosticsthat help debug issues you may find in a process
  • Additional information and alerts about a process or reports that can help you prevent issues from surfacing

This excerpt from the “Process Transaction” phase for the Receivables product lists documents you’ll find helpful.

Recievables Excerpt

How to Get Started with the Period Close Advisor

The Period Close Advisor is a great resource that can be used both as a proactive tool (while setting up your period end procedures) and as the first document to refer to when you encounter an issue during the period close procedures!

As mentioned earlier, the order of the product tabs in the Period Close Advisor gives you the recommended order of closing. The first thing to do is to ensure that you are following the prescribed order for closing the period, if you are using more than one sub-ledger.

Next, review the information shared in the Evaluate and Prepare and Process Transactions phases. Make sure that you are following the recommended best practices; you have applied the recommended patches, etc.

The Reconcile phase gives you the recommended steps to follow for reconciling a sub-ledger with the General Ledger. Ensure that your reconciliation procedure aligns with those steps.

At any stage during the period close processing, if you encounter an issue, you can revisit the Period Close Advisor. Choose the product you have an issue with and then select the phase you are in. You will be able to review information that can help you find a solution to the issue you are facing.

Stay Informed

Oracle updates the Period Close Advisor as we learn of new issues and information. Bookmark the Oracle E-Business Suite Period Close Advisor [ID 335.1] and keep coming back to it for the latest information on period close

Wednesday Oct 24, 2012

Run Oracle E-Business Suite Period Close Diagnostic

Untitled Document

Be Proactive & Save Time—Use the Period Close Diagnostic During the Month

RedPath

Have you ever closed your books at the end of the month and, due to problems with your Oracle E-Business Suite Period Close, you found yourself working all night or all weekend to resolve your issues?

You can avoid issues by running the Oracle E-Business Suite Period Close Diagnostics throughout the month, prior to closing Oracle Financial Assets, General Ledger, Payables, and/or Receivables. You can identify issues that will interfere with your period close early, preventing last minute fire drills. Correct your errors or, if you need Oracle Support’s assistance, attach the output to a service request for faster resolution by the support engineer.

Oracle E-Business Suite Diagnostics are included in your Oracle Premier Support agreement at no extra charge. They are proactive, easy to use, tools provided by Oracle Support to ease the gathering and analyzing of information from your E-Business Suite, specific to an existing issue or setup. Formatted output displays the information gathered, the findings of the analysis, and the appropriate actions to take if necessary. These tools are designed for both the functional and technical user, providing no EBS administration features, so you can safely assign this responsibility to users who are not administrators.

A good place to start with the Support Diagnostics is the install patch Note 167000.1. Everything you need is in this patch and you install it on top of your E-Business Suite. If you are on EBS 12.0.6 or below, Oracle delivers the diagnostic tests in a standard Oracle patch and you apply it using the adpatch utility. If you are on EBS release 12.1.1 or above, your diagnostics are already there.

Oracle E-Business Suite Diagnostics:

  • Prevent Issues—resolving configuration and data issues that would cause processes to fail
  • Identify Issues Quickly—resolving problems without the need to contact Oracle Support
  • Reduce Resolution Time—minimizing the time spent to resolve an issue by increasing support engineer efficiency

In the example below, you will see how to run the EBS Period Close Diagnostic step-by-step using an SQLGL Period Closing Activity Test. This allows you to check throughout the month to identify and resolve any issue that might prevent closing the period in the General Ledger on schedule.

 

  1. Click the Select Application button. Select your Application. In this example, we will use the Period Close test. Scroll down to Period Close


  2. Step 1

  3. Place a check mark in the Period Closing box in the Select column. Click the Execute button at the bottom of the page

  4. Step 2

  5. Input the parameters. Click the Submit button


  6. Step 3



  7. Click the Refresh button, until the Status of the test changes from “In Progress” to “Completed”


  8. Step 4

  9. Click the icon under, View Report to view the test results


  10. Step 5

 

The report will complete successfully or show completed with errors. The report will show where the error is located, what the error is, and what action(s) to take for resolution. Remember, if you need to work with Oracle Support to resolve your issue, attach the report to your Service Request so the engineer can start working the issue.

With errors Completed with errors

Without errors Completed successfully with no errors

If you have questions, please ask in the E-Business Suite Category’s Diagnostic Tools Community. You may find the answer waiting for you in a prior community discussion or in one of the resources posted by an Oracle Support moderator.

Oracle’s Period Close Diagnostic, and the other E-Business Suite Diagnostics, save you time and help keep you on schedule. If you run the Period Close Diagnostic throughout the month, you can identify issues to resolve and get help, if needed. When opening a Service Request, attaching the output from the diagnostic report, speeds resolution. With the issues resolved ahead of time, your Period Close should complete without errors. Avoiding the unexpected, helps to close your books on time and without late nights or working through your weekend.

Recommended Reads

E-Business Suite Diagnostics Period / Year End Close [ID 402237.1] lists all of the Closing Period Diagnostic Tests. I highly recommend that customers execute these tests prior to closing a period. The period closing tests listed in this document help you identify known issues that prevent a successful period close. Use these tests prior to closing a period. To learn about all the available EBS Diagnostics, please review the E-Business Suite Diagnostics Overview [ID 342459.1].

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