Accounts Receivable (AR) period closing check list

Period Close Check list for R12

For AR

1.    Complete Transactions

2.    Review Unapplied Receipts

3.    Reconcile Receipts to Bank Statement

4.    Change Period Status to Close Pending

5.    Create Accounting

6.    Review Unposted Items Report

7.    Reconcile Transaction Activity

o    Transaction Register

o    Sales Journals

o    Receipt Register

o    Receipt Journals Report

o    Journal Entries Report

8.    Reconcile Outstanding Customer Balances

o    Aging Report (run for last period)

o    Transaction Register

o    Adjustments Register

o    Invoice Exceptions

o    Applied Receipts Register

o    Unapplied Receipts Register

o    Aging Report (run for this period)

9.    Post (GL) Receivables Transactions

10.  Print Invoices

11.  Print Statements

12.  Print Dunning

13.  Reconcile Receivables Activity to GL

o    AR Reconciliation Report

o    AR-GL Reconciliation Report

o    Third Party Balances Report

o    Account Analysis Report

14.  Close Receivables Period

o    Subledger Close Exceptions Report

o    Change Period Status to Closed

o    Open Next Period

15.  Do your Tax Reporting