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10.1 Close Inventory Accounting Period

ORACLE APPS COMMUNITY > Tutorial > Logistics & Warehouse > Oracle Inventory > Business Processes

Form Application: Inventory
Form Name: INVTTGPM
Form Path: /oracle/apps/r12/visr12/apps/apps_st/appl/inv/12.0.0/forms/US/INVTTGPM.fmx

Inventory Periods control flow of transactions into specific GL period. It is financial practice to split a financial year into multiple accounting period and based on date transactions flow into any of these accounting period. For accurate financial reporting each period is OPENED and CLOSED by authorized people.

Navigation: Inventory responsibility -> Accounting Close Cycles -> Inventory Accounting Period

Select the Inventory ‘Period’
Find only OPEN status period
Click ‘Pending’ to view pending transactions
Ensure no pending transactions that require resolution are open.
Click on ‘Change Status’
Select new status as ‘CLOSED’
Click ‘OK’
Click ‘CLOSE’ when pending transactions summary screen prompted

Concurrent program is submitted, once it is completed NORMAL, navigate again to check the Inventory accounting period status changed from OPEN to CLOSED.

Close Inventory Accounting Period

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by oracleguru

10.0 Open Inventory Accounting Period

ORACLE APPS COMMUNITY > Tutorial > Logistics & Warehouse > Oracle Inventory > Business Processes

Form Application: Inventory
Form Name: INVTTGPM
Form Path: /oracle/apps/r12/visr12/apps/apps_st/appl/inv/12.0.0/forms/US/INVTTGPM.fmx

Inventory Periods control transactions into specific GL period. It is financial practice to split a financial year into multiple accounting period and based on date transactions flow into any of these accounting period. For accurate financial reporting each period is OPENED and CLOSED by authorized people.

Navigation: Inventory responsibility -> Accounting Close Cycles -> Inventory Accounting Period

Select the Inventory ‘Period’
Find only FUTURE status period
Click ‘Change Status’
Click ‘OK’ when prompted ‘Open this period?’

Concurrent program is submitted, once it is completed NORMAL, navigate again to check the Inventory accounting period status changed from FUTURE to OPEN.