Period closing process is an inevitable task in any Organization. By closing books we are isolating information from one period to another in terms of the revenues and expenses, hypothetically. It helps produce the income statements of any Organization. But, as we do so, we face several bottlenecks. How do we achieve a smooth Closing of the books ? To close out there are several steps that can be followed. In this session we will dwell into the common challenges faced during any period close process and how to avoid them. It will highlight the pre-requisite steps, the optimal order and the reports required to run for a smooth Period Close. It will also include a quick module-wise "To-Do Checklist" to follow. Please note that this list may contain reports which your company does not require, however you may review with your business so that all necessary reports are being generated. The advantages of timely period close are multifold. - Standardization of Close Process across all OU's - Reduced closing and reporting efforts- Avoids Reporting Delay - No delaying in key business decisions- Timely Reconciliation- Avoids Performance bottlenecks - Meeting Service Level agreements- Audit Traceability
Chinmayee Pattanaik has over 10 years of experience in IT Industry, of which she has spent the initial 3 years with Infosys where she was involved in Designing, Coding, Testing, Development and Deployment of various Applications using Java and PL/SQL code. The next 7 years and more she has been working with "Oracle India Private Ltd" as a "Principal Support Engineer".
Currently she is a part of the "Global Support Team" for Oracle Applications E-Business Suite - Financials. As a "Subject Matter Expert" expert, she handles functional and technical Service Requests raised by customers related to various modules like Accounts Receivables, Subledger Accounting or SLA, Credit Management, Trading Community Architecture, EBTax, Advanced Collections, i-Receivables, etc. She specializes in handling issues related to Period Closing, Subledger Accounting and data corruptions hindering Posting and Reconciliations.
At Oracle she has received several awards like EBS Annual Service Award for “Best Collaborative Effort”, EBS Annual Service Award for “Leadership And Passion”, Outstanding Team Award, Star Performer Award, Pacesetter Award, Service Excellence Award, Customer Champion Award, Outstanding Productivity Recognition, Spot Awards and many more.