Controlling the Status of AP Accounting Periods
Payables allows invoice entry, payment entry, and payment voiding in open accounting periods. You can enter invoices in Future accounting periods, but you cannot post any invoices in Future accounting periods until you change the status of the period to Open. The period statuses available in Payables are Never Opened, Future, Open, Closed, and Permanently Closed.
When you update a period status to Closed, Payables automatically checks if you have any unposted invoices or payments, or any unconfirmed payment batches in that period. If you have any unposted records or unconfirmed payment batches in a period you are trying to close, Payables prevents you from closing the period and automatically submits the Unposted Invoice Sweep report. You can use this report to view all your unposted transactions for the period. You can submit the Unposted Invoice Sweep program if you want to move all unposted transactions from one period to another. Then, close your period.
Your accounts payable periods are separate from your general ledger periods. For example, you can close your Q1 period in AP before you close your Q1 period in general ledger.
If you use the Multiple Reporting Currencies feature, read the Multiple Reporting Currencies in Oracle Applications manual for information on changing a period status when you use Multiple Reporting Currencies.
To change the status of an accounting period:
1. In the AP Accounting Periods window update the Period Status to one of the following:
- Never Opened. Payables does not allow invoice entry, payment entry, or payment voiding in a period that has never been opened. When you first define a period, Payables assigns a status of Never Opened to the period. After you change the status to Future or Open you cannot change it back to Never Opened.
- Future. Payables allows invoice entry in a Future period. Approval places a posting and payment hold on any invoice you enter in a Future period. Approval releases the hold when you open the period and resubmit Approval. Payables does not allow payment entry or payment voiding in a Future period.
Payables allows you to limit the number of Future periods based on the number you enter in the Payables Options window. After you change the status of a Future period to Open, you cannot change it back to Future.
- Open. Payables allows invoice entry, payment entry, payment voiding, and posting in an Open period. You cannot open a period if it is an adjusting period. You define adjusting periods using the Define Calendar form. Adjusting periods can have overlapping dates.
- Closed. Payables does not allow invoice entry, payment entry, or payment voiding in a Closed period. You can reopen a Closed period if the corresponding general ledger and purchasing periods are also Open. Payables prevents you from closing a period that has unposted invoices or payments. Payables also prevents you from closing a period with unconfirmed payment batches. To close a period with unposted invoices or payments distributions, submit posting through the end of the period and optionally submit the Unposted Invoice Sweep report to move any remaining unposted transactions from one period to another.
- Permanently Closed. Payables does not allow invoice entry, payment entry, or payment voiding in a Permanently Closed period. You cannot reopen a Permanently Closed period.
Unposted Invoice Sweep Program