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Oracle E-Business Suite 12 Financials Cookbook by Yemi Onigbode

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Closing Inventory

At the end of a period Item, costs information needs to be transferred to the General Ledger before we can close the period. In this recipe, we will look at the process of closing inventory.

Getting ready

  1. Complete all transactions shipping, receipts, issues, and adjustments.
  2. Check Interface managers for outstanding transactions.
  3. Transfer transactions to the General Ledger using the Create Accounting Cost Management Program.
  4. Open the next period.
  5. Close the Payables period.
  6. Close the Purchasing period.
  7. Close the Receivables period.

How to do it...

Close Inventory Period automatically transfers summary transactions to the GL interface table. The prior period needs to be closed before we can close the period. To accomplish this, carry out ...

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