You can open and close periods for a single ledger or multiple ledgers in a ledger set with one of the following programs:
Periods - Open Periods: To open periods up to and including the specified target period for one or more ledgers.
Periods - Close Period: To close a single period for one or more ledgers. Only open periods can be closed.
Note: The Close Period program completes with a warning if unposted journals exist in the period.
Periods - Gapless Close Period: To close a consecutive range of open periods for one or more ledgers. This program closes the specified period and all prior periods that are still open.
Periods - Permanently Close Period: To permanently close one or more closed periods for one or more ledgers. Periods starting from the initial period must be closed before you can permanently close them. To permanently close a range of closed periods, the specified period and any prior periods must have a status of Closed or Permanently Closed.
Caution: When you permanently close a period, all prior periods are also permanently closed and can never be re-opened.
You can schedule your Period programs to run automatically based on schedules you define in Oracle Applications or in General Ledger.
You must have read and write access to the ledger and all of its balancing segment values and management segment values to open and close periods.
Prerequisite
Define your ledger and ledger sets.
Navigate to the Submit Request window.
Choose to Submit a Single Request.
The Submit Request window appears.
In the Request Name field, select one of the following Period programs:
Period: Open Periods
Period: Close Period
Period: Gapless Close Period
Period: Permanently Close Period
Complete the following parameters:
Ledger/Ledger Set: Enter the name of the ledger or ledger set. You can only access ledger sets that are included in your data access set.
Note: You must have read and write access to the ledger and all of its balancing segment values and management segment values to run the Period programs.
Period Name: Enter the period you want to open, close, or permanently close.
Select OK to close the Parameters window.
Submit the program. A concurrent process is launched.
For a ledger set, the program launches a parent request and separate child requests for each ledger in the ledger set. The parent request execution report outlines all the ledgers that were processed.
If you use reporting currencies (Journal or Subledger Level), you need to open and close the periods for your reporting currencies separately from your ledgers. You can open and close periods for your reporting currencies in the same way that you do for your ledgers by selecting the name of your reporting currency in the Ledger field in the Open and Close Periods window or SRS programs. You can even include your reporting currencies in a ledger set with your other ledgers to open and close periods for all of your ledgers and reporting currencies simultaneously.
If average balance processing is enabled for your ledgers, the Periods - Open Periods program submits two requests per ledger, one for standard balances and another for average balances. If opening an adjusting period, only one process is submitted for standard balances because average balances are not maintained for adjusting periods.