Purpose

The following guide is intended for Payables Period Close Manager to view or complete any of the following actions:

Action

· Close the Accounting Period in the Payables module, comprised of the below business units.

· University General

· University Internal Billing

· Funds Flow and Intercompany Transactions

· University Clinical Research Studies

· University Sponsored Awards

· Invoices are not directly created from University Clinical Research Studies or University Sponsored Awards. These business units exist in the Payables module for the scenario in which there is an Accounts Receivable to Payables refund due to overpayment in Accounts Receivable.

Additional Resources

· Many of the processes that are mentioned throughout this QRG will be run as scheduled. Refer to the Scheduled Processes Register for frequency of these scheduled processes. Additionally, they can be run manually on an as needed basis.

· Before beginning the process to close the Payables period, you can review issues you might encounter and resolutions in the FST_Period_End_Close_Issue_Resolution_Payables slide deck.

Close the Accounting Period in Payables

1. Select the OKTA Single-Sign-On button and then complete the sign-in steps.

Note: Import Payables Invoices is run as a scheduled process for all external systems and Concur. Oracle Support team notifies Payables team in case of integration failures. Each business unit will be monitoring the errors and working with source system owners to correct errors throughout the period.

The payables period close process begins by ensuring the import errors have been corrected.

2. Select Payables.

3. Select Invoices.

4. Select Taskbar.

5. Select Correct Import Errors to download Excel spreadsheet.

6. Select Enable Editing.

7. Select Yes.

8. Select the OKTA Single-Sign-On button and then complete the sign-in steps.

9. Double click in each row of the ‘Delete’ column to mark the individual invoice for deletion.

a. Note: When deleting an invoice from the queue, direct the invoice information to the source system owner who will delete the invoice from the source system and work with supplier or provider unit to correct error and resend invoice. See two examples below—

i. If Source = B2B XML Invoice, the catalog owner is the source system owner.

ii. If Source = MyCRI, Internal Billing is the source system owner.

1. Full list of Sources can be found in Tab 19, ‘Manage Payables Lookups’ of the Payables Configuration Workbook.

10. Select Save and Submit Invoice Import.

11. Pop up box will notify you that selected invoice(s) selected have been deleted, select OK.

a. Note: It is expected that Status Viewer will contain an error message since you are not importing invoices, only deleting.

12. Navigate to Invoices.

a. Note: Validate Payables Invoices is run as a scheduled process. You can review invoices that were not able to be validated and placed on hold then release the holds (if needed).

13. Select hyperlinks within Holds workbench to review hold reason and release the invoices on hold.

14. Select Pending hyperlink within Approvals workbench to view invoices that are Pending Approval from Others.

a. Note: Initiate Approval Workflow is run as a scheduled process. You can view the invoices that are require approval from others then contact the approvers (if needed).

15. Navigate to Payables and select Payments.

a. Note: Initiate Payment Process Request and Create Electronic Payment File are manual processes completed daily by the Payables Payment Processor. You can review Payment Process Requests that require attention (if needed).

16. Select Requiring Attention tab to review Payment Process Requests.

17. Select the right facing arrow button in the Action column to complete the Payment Process Request.

18. Navigate to Tools and select Schedule Processes.

a. Note: Create Accounting is a scheduled process for both Purchasing and Payables. Running the Create Accounting Exception Report is part of the period close process to review errors that prevented journal entries from being created.

19. Select Schedule New Process.

20. Search Create Accounting Execution Report then select Enter on your keyboard. Description will automatically populate.

21. Select OK.

22. Select Detail from the Report Style dropdown.

23. Select Submit.

24. Select the Refresh button.

25. Select the Create Accounting Execution Report that populated.

26. Select Republish icon.

27. Select the Actions icon to Export.

28. Select PDF.

29. Navigate to Tools and select Scheduled Processes.

a. Note: Subledger Period Close Exceptions Report is a scheduled process but is run as part of the period close process to review Payables exceptions.

30. Select Schedule New Process.

31. Search Subledger Period Close Exceptions Report then select Enter on your keyboard. Description will automatically populate.

32. Select OK.

33. Select Payables as the Journal Source, UChicago US as the Ledger, enter start date in From Accounting Period, and then enter end date in To Accounting Period.

34. Select Submit.

35. Select the Refresh button.

36. Select the Subledger Period Close Exceptions Report that populated.

37. Select Republish icon.

38. Select the Actions icon to Export.

39. Select PDF.

40. Review Status column in Subledger Period Close Exception Report.

a. Note: Guidance for statuses in this report and resolutions are available here. As required, review and resolve exceptions by collaborating with Admins/ITS for Payables and IB Coordinators for Internal Billing.

41. Select Schedule New Process.

a. Note: As part of the period close, you will run the process to sweep remaining exceptions to the next period.

42. Search Payables Unaccounted Transactions and Sweep Report then select Enter on your keyboard. Description will automatically populate.

43. Select OK.

44. Select Ledger for Report Level, UChicago for Report Context, select the current period for Period, enter Yes for Sweep Now, and select the next period for Sweep to Period.

45. Select Submit.

a. Note: When selecting Report Level as Ledger, Payables Unaccounted Transactions and Sweep Report will run for UChicago US ledger. If selecting Report Level as Business Unit, report will need to run for all business units.

46. Select the Refresh button.

47. Select the Payables Unaccounted Transactions and Sweep Report that populated.

48. Select the Republish icon.

49. Select the Actions icon to Export.

50. Select PDF.

51. Navigate to Payables and select Invoices.

a. Note: You will officially close the current Payables accounting period and open the next Payables accounting period as the final step of the close process.

52. Access the Taskbar and select Manage Accounting Periods

53. Highlight Ledger UChicago US.

54. Close current Payables accounting period then open next payables accounting period.

55. You now completed the process to close the Accounting Period in Payables for Payables, Internal Billing and FFIT.