Answer / latha ummalaneni

1. Complete All Transactions for the Period Being
Closed
2.Run the Payables Approval Process(Invoice Validation
Program in 11i) for All Invoices/Invoice Batches.
3.Review and Resolve Amounts to Post to the General Ledger.
4If there is any Hold on the Invoice it will not accounted.
So we need to remove all the holds on the invoices.
5.Review the Payables Accounting Entries Report
6.Review the Unaccounted Transactions Report
7.Confirm all Payment Batches
8.Reconcile Payments to Bank Statement Activity for the
Period
9.Transfer All Approved Invoices and Payments to the
General Ledger.
10.Review the Payables to General Ledger Posting process
After Completion.
11.Payables Accounting Process Report?(to review accouting
entries created by payable accounting process)
12.Submit the Unaccounted Transactions Sweep Program.
13.Close the accounting period by using the Control
Payables Periods window to set the Period Status to Closed.

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