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Ledger Close Dates

Oracle is organized into a general ledger and several subledgers, cash management, payables, procurement, Projects (PPM) and accounts receivable (AR). Data is summarized as it flows from the subledgers to the general ledger, and each subledger must close to new transactions in a particular order. There is work the central offices must do to close the month in each module, and transacting must stop for this to occur.

How does this differ from prior ledger close periods?  The previous legacy system and reporting tool, IFIS/Finlink, did not have this breakout, all the work was handled in the general ledger. This means what you formerly knew as the General Ledger (universally meaning both general/operating) is separated out by function. 

Because in Oracle vendor payments cannot be performed after the last day of the month, cash management, payables and procurement are the first to close. Then:

  • Invoice and payment data flows through to PPM, which is the next to close. The last day to process recharge transactions for the month is the PPM cutoff deadline (generally the night before the close date)
  • AR closes after PPM because PPM pushes billing data to AR
  • Once all the subledgers are closed, and accruals booked, then the GL can close

Areas operating in the GL will be primarily VC and central accounting offices. For most departments the PPM ledger close date should be your primary focus, with the general ledger date as a secondary focus.

 To ensure transactions and online journal entries post to the appropriate accounting period, the document, with final approval, needs to occur prior to the end of business (4:30 pm) on the cutoff date listed below based on subledger.   


ORACLE LEDGER CLOSE DATES

Fiscal Year 2021 Ledger Cutoff Dates

Accounting

Month

Cash Mgmt

Payables

Procurement

PPM

Receivables

GL Close

20-Jul 08/03/2020 08/04/2020 08/05/2020 08/07/2020
20-Aug 08/31/2020 09/02/2020 09/03/2020 09/07/2020
20-Sep 09/30/2020 10/02/2020 10/05/2020 10/07/2020
20-Oct 10/30/2020 11/03/2020 11/04/2020 11/06/2020
20-Nov 11/30/2020 12/02/2020 12/03/2020 12/07/2020
20-Dec 12/31/2020 01/05/2021 01/06/2021 01/08/2021
21-Jan 01/29/2021 02/02/2021 02/03/2021 02/05/2021
21-Feb 02/26/2021 03/02/2021 03/03/2021 03/05/2021
21-Mar 03/31/2021 04/02/2021 04/05/2021 04/07/2021
21-Apr 04/30/2021 05/04/2021 05/05/2021 05/07/2021
21-May 05/31/2021 06/02/2021 06/03/2021 06/07/2021
21-Jun 06/30/2021 07/02/2021 07/07/2021 TBD
Blue font = Holiday

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