Oracle Cloud Financials – Period Close Steps

What is Period Close?

Closing is the process of accounting for all transactions at the end of each period so all supporting information is transferred to the General Ledger.

This whitepaper provides guidance on the period-end close procedures for Oracle Cloud Application modules, across Financials, Procurement, Projects, Inventory, and

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Oracle Cloud Financials- Assets – Setups/ Whitepaper


Getting Started
Where to start with the setup?
What are the general setup steps that need to be made in FSM?
1.    Key Flexfields
Key Flexfields in Fusion Assets
Asset Category Flexfield
Asset Key Flexfield
Location Flexfield
2.    Manage Asset Keys and Locations
3.    System Controls
4.    Fiscal Years
5.    Prorate and Depreciation Calendars
6.    Reference Data Set
7.    Prorate Conventions
8.    Depreciation Methods
Flat Rate
Table Based
Unit of Production
9.    Bonus Rules
10.    Ceilings
11.    Fixed Assets Lookups
12.    Asset Depreciation Book
13.    Cash Generating Units (CGUs)
14.    Distribution Sets
15.    Fixed Assets Profile Options
16.    Asset Categories
17-    Security

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