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.

Understanding the multitiered Oracle close steps and the impact of each on process cut-off dates 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, then the GL close can begin as the final month end close 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 post to the appropriate accounting period, the document, with final approval, needs to occur prior to the end of business on the cutoff date. There are processes that 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.

*Dates have been adjusted to coincide with UCPATH labor ledger postings.

** After subledgers close, no further transactions can be processed for the 2021 fiscal year.

Prelim and VC (Interim) cutoff periods do not exist in Oracle; ^departments last day to submit GL journals with all approvals completed is 7/16/2021 ; ^^last day for VCs to submit GL journals with all approvals completed is 7/23/2021