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You can perform the general ledger transfer at any time during an open period--not just at period close. The transfer loads summary or detail accounting activity for any open period into the general ledger interface, including both inventory and work in process entries. When more than one period is open, the transfer selects transactions from the first open period up to the entered transfer date, and passes the correct accounting date and financial information into the general ledger interface.

When you transfer detail entries, the transaction date is the accounting date with a line for line transfer. When you transfer summary entries with two periods open, and you enter a transfer date in the second period, the transfer process assigns the period one end date for all the summarized transactions in period one, and assigns the entered transfer date for the summarized transactions in period two.

Using Journal Import and Post Journals processes in Oracle General Ledger, you can then post this information to the general ledger.

Interim transfers allow you to reconcile and transfer information weekly, for example, making the month-end period close process much simpler and faster.

Suggestion: If time permits, run the general ledger transfer process up to the period end date before closing the period. Since you cannot reopen a closed period, running this process before period close allows you to proof the summary transactions and make adjustments to the period via new inventory transactions as necessary. This makes the month-end period close process much simpler and faster. See: Maintaining Accounting Periods.

Prerequisites

   You must open at least one accounting period. See: Maintaining Accounting Periods.

   To transfer transactions to the general ledger:

1. Navigate to the General Ledger Transfer window.

You can also use the All Reports window and enter Transfer transactions to GL in the Name field.

2. In the Parameters window enter the following information:

• Enter the date up to which you want to transfer transactions to the general ledger.

• Optionally, enter text describing the transfer.

• Oracle Inventory displays the name of the accounting period that contains the date of the transfer.

3. Choose the Submit button.

See Also

Overview of Accounting Close Cycle