Inventory period close – speed-up
The inventory period close process can often be challenging with the volume of stuck transactions typically faced. Oracle provide a pending transactions view with mandatory recommended resolutions. Inventory is generally towards the end of the closure process, and can often hold up General Ledger period close and or other related modules.
It is not possible to process deferred shipping transactions after their accounting period has been closed. These transactions will get stuck if interfaced after the period is closed, hence we must know if any unprocessed/deferred shipping transactions exist for a period before it is closed. This will allow the users to process those transactions before proceeding with period close.
The default option if unprocessed shipping transactions exist is ‘Resolution Required’ – that is the system does not allow a period to be closed until all pending shipping transactions have been interfaced. However, whilst this option may be overridden by the user, in general all Resolution Required transactions should be worked through to insure that the accounting transactions are within the correct period. This type of work can be very time-consuming, and instead can optimized using a Blitz Report.
In this article, we explain the standard steps and provide a more efficient method of producing comprehensive analysis in a single Blitz Report™ that is extracted from the period end form during the close process.
1. Navigate> Inventory > Accounting Close Cycle > Inventory Accounting Periods
2. Choose an inventory organization
3. The inventory accounting periods form opens
4. Press the “Pending…” button
5. The Pending Transactions Appear
For example the Pending Transactions form lists the errors as follows:
Blitz Report Inventory Period End form function
However, if we configure the Blitz Report into the form using standard Forms Personlization, or you can schedule the output for the support teams to ensure proactive work thus preventing bottleneck delays during the close process.
The Blitz Report provides full analysis of all stuck transactions in all organizations; and can be easily extended with additional information required to optimize the analysis.
The report can also be scheduled through the standard Oracle concurrent requests and or emailed to the supporting teams on a daily basis
A short video overview covering the functionality is also available to review below, or if you would like to find out more feel free to request a demo.
The Blitz Report™ software is free to use for your first 30 reports, you can plan a 30 minutes guided installation with the team at www.enginatics.com