How to sweep costing Exceptions to next period in oracle cloud

In this post we will see how to sweep the costing accounting exceptions to next period in oracle cloud/fusion.

Period close is one of the important steps in any organization. Once all the transactions are done for a period the next step is to close the period so that no more transaction can be created or posted in that and generate the report for that period.

Period close process is not necessarily smooth every time in oracle cloud. There are occasions when we encounter many exceptions while closing the period. Most of the time we clear those exceptions and go ahead with period close but sometimes it may happen that you are not able to close all the exceptions and you have immediate requirement to close the period. In such case you have option to sweep the exceptions to the next period and close the period in oracle cloud/fusion.

Here in this post we will see such case where we have to sweep the costing exceptions to next period in oracle cloud/fusion and close the period.

 

Below are the detailed steps on “How to sweep costing accounting exceptions to next period and close the period in oracle cloud/fusion”.

Step 1: In oracle cloud navigate to Setup and Maintenance

How to sweep costing Accounting exceptions to next period in oracle cloud

Step 2: From the task pane select search

How to sweep costing Accounting exceptions to next period in oracle cloud

Step 3: Search for Manage Cost Organization Relationships, click on the hyperlink

Step 4: Search for the BU and click search button

Step 5: Click on the cost book tab and then click on the pencil icon to open it in edit mode

Step 6: Under validation Type: Pending cost processing select “Ignore” from the action

How to sweep costing Accounting exceptions to next period in oracle cloud

Step 7: Once this is done you can do the create accounting and run the period end validation. Once that is done you can close the period.

NOTE: Once the period is closed come back here and change the action type to Error from Ignore. ( in short revert the changes which you have done)

How to sweep costing Exceptions to next period in oracle cloud|| How to sweep costing Exceptions to next period in oracle Fusion

 What is Automatic and Gapless Sequencing in Oracle

In this post we will see what is automatic and gapless sequencing/numbering in oracle cloud.

Document sequencing is a very important setup for any organization. This is basically done for control and audit point of view. We can track what invoices/payments are created and then deleted, as these sequences are unique and assigned to each transaction in respective module.

We have GL sequencing, Payables document sequencing, Receivables document sequencing etc.

So, we have now understood what sequencing/numbering is, let us see how many types of sequencing are available.

 

Types of Sequencing

1.       1. Automatic

2.       2. Gapless

3.       3. Manual

What is Manual Sequencing/numbering?

 

From the name is quite clear that in Manual Sequencing/Numbering user must provide the sequence number when he creates a transaction. Hence in such cases the numerical ordering is not maintained, and user can enter the number whichever he wishes.

 

What is Automatic and Gapless sequencing/numbering in oracle?

 

1.     What is Automatic Sequencing/numbering?

When you create Payables/receivables sequencing and you assign sequencing type as Automatic, it means system will generate the document/sequence number for this automatically whenever a transaction is done. These number are unique and sequential.

The system creates the sequence with the combination of sate and time of creation.

2.     What is Gapless sequencing/numbering?

When you create a payables/receivables sequencing and you assign a sequence type as Gapless, it is similar to automatic sequencing but additionally here you can provide the initial number and system will take that as initial sequence and then follow gapless sequence.

 

For example you created a sequence and taken type as Gapless and given the initial number as 100 . So the system will assign the first sequence as 100 and then creates gapless numbering as 101,102 and so on

Automatic and Gapless Sequencing in Oracle

Automatic Sequencing||Gapless Sequencing||Manual Sequencing||Automatic Numbering||Gapless Numbering