Prepare for your 2022 General Ledger Year End Closing by taking a look at Doc ID 66532.1, it has details that will assist you in the Oracle General Ledger application year end closing process using the Open/Close Period program. A few things to know:
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It is very important to check that you do not have any misclassified accounts (combinations with incorrect account type) before opening the new year. To help you detect misclassified accounts get the diagnostic test Oracle General Ledger (GL): Misclassified Accounts Activity script for your release from Doc ID 1416402.1: Oracle General Ledger (GL) Diagnostics Catalog.
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Opening periods prematurely can result in posting performance degradation. This can occur because the posting program also updates all affected account balances to all future periods that were ever opened.
Don’t forget to use the Year-End Close Checklist as a guideline to perform year-end processing in Oracle General Ledger.
You should also review the Period Close Advisor: E-Business Suite (EBS) Doc ID 335.1 under the GL Tab, where it describes the step by step processes and activities required for a successful period close in Oracle General Ledger Release R12. Best practices with tips and troubleshooting references to assist you through each phase is also outlined.
Resources to help you prepare for General Ledger Year End:
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Oracle General Ledger Year End Closing Process (Doc ID 66532.1)
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Period Close Advisor: E-Business Suite (EBS) (Doc ID 335.1) – GL Tab
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Information Center: Using Oracle General Ledger (Doc ID 1489534.2)
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Information Center: Oracle Financial Control (FC) and Reporting (Doc ID 1565157.2) – GL Tab