Oracle Projects - Period End Process

This chapter describes the procedures for performing period-end processing in

Oracle Projects.
Business Requirements
Period end procedures for Oracle Projects have two main functions:
Changing the status of the current period to closed
Activating all the processes and controls necessary to produce reports that
accurately reflect the period activity, while allowing minimum interruption of
transaction processing.
Project Periods and General Ledger Periods
In Oracle subledgers, such as Projects, transactions are summarized into
periodic cycles for reporting and reconciliation. Most subledgers have a
periodic cycle that parallels the general ledger fiscal cycle.
Period Statuses
Oracle Projects has statuses similar to the standard period statuses as in
other modules:
*Never Opened - Period has never been used.
* Future Enterable - Period is open to accept transactions from other modules.
Usually used where modules are maintained in different periods, and
transactions are likely to be posted across modules.
* Open - Period is available for data entry.
* Closed - Period is closed for processing, but can be re-opened if required.
* Permanently Closed - No further processing is possible.
* Pending Close - This status prevents transaction entry, and allows users to
correct unprocessed items prior to completing the period close.
General Exception Handling at Period End
The Sub ledger Period Close Exceptions Report lists all accounting events and
journal entries that fail period close validation.
You can generate the Sub ledger Period Close Exceptions Report through a
concurrent request for the application associated with the responsibility or for
all applications in the General Ledger responsibility.

Procedures
1. Change the Current Oracle Projects Period Status from Open to Pending
Close
This is an interim status, which allows you to interface and adjust transactions
in the period but does not allow transaction entry.
This process needs to be performed for each operating unit defined.
2. Open the Next Oracle Projects Period
It is recommended that you open the next period to minimize interruption to
users who may require the ability to enter transactions in the new period
during the current period close procedure.
This process needs to be performed for each operating unit defined.
3. Run Maintenance Processes
It is recommended that the following maintenance processes be run in
preparation for the period end:
a) If changes or additions were made to pre-existing resource lists, update
the project summary amounts before, not during, the period close.
d) Run PRC: Update Project Summary Amounts After Resource List Change
4. Complete All Transactions for the Period Being Closed

Interface Supplier Invoices from Oracle Payables

Before running final cost event processes, import all eligible supplier invoices
from Oracle Payables.
Warning: If your PA period matches a GL/AP month end, ensure
that all new supplier invoices processing for the current GL period
has stopped.
Run PRC: Interface Supplier Costs

5. Interface Project Related Inventory Transactions

Note: the following processes must be completed within Oracle Inventory
prior to importing project related inventory transactions:

Run the Cost Collector

Project Cost Transfer

Run PRC: Transaction Import.

The following transaction sources are pre-defined.

Inventory (This is for Project specific Inventory Item Cost)

Attention: Entering new expenditures or adjusting existing expenditures
during the final cost distribution process may cause reconciliation problems.
Access to these activities should be controlled, after verifying that all
transactions for the period have been accounted for.
Inventory Miscellaneous (This is for Non-Project specific Inventory Item Cost)
Attention: Entering new expenditures or adjusting existing expenditures
during the final cost distribution process may cause reconciliation problems.
Access to these activities should be controlled, after verifying that all
transactions for the period have been accounted for.

6. Run the Final Cost Distribution Processes

Run all cost distribution processes to cost all enabled expenditures that have
an expenditure item earlier than or equal to the current reporting PA period
end date:

PRC: Distribute Labor Costs

PRC: Distribute Usage & Miscellaneous Costs

7. Interface Cost Transactions to Other Applications

You must successfully interface all relevant costs to Oracle General Ledger
and Oracle Assets to FA, before you can change the status of the current PA
period to Closed.
Interface costs to General Ledger
1. PRC: Interface Usage and Miscellaneous Costs to GL
Interface CIP Assets to Oracle Assets
2. Run PRC: Interface Assets
This process requires that prior to interfacing, all asset lines have been
generated by running the PRC: Generate Assets Lines for a range of projects
process.
Attention: You can interface asset lines to Oracle Assets only after
you have transferred the underlying expenditure items to General
Ledger.
Note: Ensure that all interface transaction reports and exception reports are
completed successfully, and/or resolved prior to continuing with the period
close.

Suggestion: Some of the above reports and processes may be run

using Submit Streamline Processes, which ensures that processes
and reports are run and completed in the correct order. If you use
the Streamline process, the order of some of the above steps may
be changed, or completed more succinctly.
14. Run Period Close Exceptions and Tieback Reports
Run the period close exceptions reports to identify transactions that have not
been fully processed, and that would prevent you from closing the PA period:
* EXC: Transaction Exception Details
* EXC: Transaction Exception Summary
* PRC: Tieback Invoices from Receivables
The tieback process from GL has become obsolete. Review the report
generated by Create Accounting/Transfer to GL processes for any errors.
Review these reports and make all the indicated corrections. After the
corrections are made, run the reports again until there are no exceptions.
Suggestion: Some of the above reports and processes may be run
using the Submit Streamline Processes process.
This process
ensures processes and reports are run and completed in the correct
order. If you use the Streamline process, the order of some of the
above steps may be changed, or completed more succinctly. All the
streamline options are not available in R12. Some of them have
become obsolete. Please refer to the relevant financials and projects
user guides.
15. Run Final Project Costing and Revenue Management Reports
Run the entire project costing management reports:
* MGT: Revenue, Cost Budgets by Resources (Project Level)
* MGT: Task - Revenue, Cost, Budgets by Resources
* MGT: Revenue, Cost, Budgets by Work Breakdown Structure
16. Change the Oracle Projects Period Status from Pending Close to Closed
When changing the status to Closed, the system checks to see if any
unprocessed items exist in the period. If unprocessed items exist, the change
of status is not allowed.
Re-run the period close exception reports to identify any unprocessed items.
This process needs to be performed for each operating unit defined.

17. Advance the PA Reporting Period (Optional)

When you are ready to view the updated summary amounts for the next PA
period in the Project Summary Inquiry window, advance the PA Reporting
Period.
Only one period can be designated as the current reporting period for Project
Status Inquiry. The current reporting period does not have to be an open
period.
18. Update Project Summary Amounts
To enable users to view the latest data in the Project Status Inquiry Window,
you must run a final project summary update for the current reporting
(pending close) PA period.

Attention: The update process cannot run concurrently with the

interface processes.
Warning:

Do not run PRC: Update Project Summary Amounts

After Resource List Change during the closing or post-closing
processes.
19. Reconcile Cost Distribution Lines with General Ledger (Optional)
The following Project Subledger Audit Reports print cost distribution lines
related to projects. These reports enable you to drill down from a GL account
balance in the trial balance to the individual projectrelated transactions:
* Run AUD: Project Subledger Summary
* Run AUD: Project Subledger: Detail by Project
* Run AUD: Project Subledger: Detail by Expenditure Type
20. Permanently Close the Oracle Projects Period (Optional)
When you are satisfied with the closing of the PA period and will not need to
reopen the period, change the status of the PA period to Permanently Closed.

Warning: Once a period is permanently closed it can never be reopened.