Ledger Close Dates

Find out more about ledger close dates for accounting transactions.

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.

Understanding the multitiered Oracle close steps and the impact of each on process cut-off dates is outlined in the below table.

• First step: Vendor payments cannot be processed after the last day of the month, therefore cash management, payables and procurement modules naturally begin the close process
• Second step: Invoice and payment data populates into PPM, which triggers the PPM close process
  • The last day to process recharge transactions for the month is the PPM cutoff deadline (generally the night before the PPM close date)
• Third step: PPM pushes billing data to AR, allowing AR to be the next close process
• Fourth and final step: Once all the subledgers are successfully closed and accruals booked, the GL close can begin as the final month-end closing process.

For most departments, the PPM CUT-OFF date should be your primary focus, with the general ledger date as a secondary focus. The GL is primarily a focus for VC and central accounting offices.

To ensure transactions and online journal entries are posted to the appropriate accounting period, the document, with final approval, needs to occur before the end of business on the cutoff date. Some processes occur on the backend by central offices to initiate close steps and if the transactions/online journals are still processing, it may impact the posting date/accounting period.

Once subledgers are closed, they do not reopen again. 

After the campus GL closes (also known as "soft close"), the GL is reopened for the Health System only (Medical Center, Physician Group, Population Health) for transacting on the GL only.  Some departments may be affected by the transactions posted by the Health system.  The GL is fully closed at the Health System close (expected to occur about the 20th of each month).