Oracle AR Period Close and Reconciliation

https://receivablesar.blogspot.com/2019/04/oracle-ar-period-close-and.html

Before Period Closure:

Check list Items	Oracle Processes
Ensure that all AR interfaces are Processed	Run Custom Interface Processes
Ensure that there is no data in AR Invoice Interface and if there is any data, import the same	Auto Invoice Import program
Ensure that all the Interfaces from OM or Service Contracts or AGIS modules are Processed
Ensure that all Transactions are in Complete status and Accounted and transferred to GL	Create Accounting
Ensure that receipt API's or Auto Lock Box interface (if any) are Processed
Ensure that there are no Exceptions for the Period under Subledger Exception Report	Oracle Subledger Exception Report
Ensure that any Pending Adjustments are either approved or Rejected
Ensure that Revenue Recognition Process is Run	Revenue Recognition
If you are using Cash Management Module, Reconcile AR Receipts with Bank Statements	Bank Reconciliation Process

Close the Period, if there are Exceptions, then you have an Option of Running "Unaccounted Transaction Sweep" Program to Sweep the Transactions to Next Period.

After Period Closure:

Internal Reconciliation:

For Example

Previous Month Aging Report	1,345,905.00
+ Current Month Transaction Register	16,500.00
+ Current Month Adjustment Register
+ Current Month Invoice Exceptions Report
- Current Month Applied Receipt Register
- Current Month Unapplied and Unresolved Receipts Register
= Current Month Aging Report	1,362,405.00

External Reconciliation:

Aging Report (As of last Day of the Month) should be equal to corresponding GL Account Inquiry Balance.
AR to GL Reconciliation Report.

Some Common Reasons for Reconciliation issue between AP and GL:

AR related Journal entries are deleted in GL before Posting

Manual entries are passed directly in GL using AR Receivable Account

AR related Transactions are transferred to GL  but not yet Posted

AR related Journals are Updated (for some reason) in GL before Posting

Revaluation Journals in GL

AR related Journal are Reversed in GL after Posting

AR related Journals Stucked in GL Interface for some Reason