# Oracle EBS Inventory Period Close Checklist > Source: https://netray.co/tools/oracle-ebs-inventory-period-close-checklist > Publisher: Netray (netray.co), AI and integration engineering for ERP and manufacturing systems. > Section: Free Tools ## Short answer A step-by-step checklist for closing the Oracle Inventory accounting period, including WIP, receiving and cost transactions. ## Category oracle ## Erp Oracle E-Business Suite ## Industry Discrete Manufacturing ## Audience - Cost accountant - Oracle EBS consultant - Financial controller ## Tool **Kind:** checklist **Groups:** #### Before you start **Items:** **Text:** Confirm the target inventory period is open and the previous period is closed **Critical:** true Agree the close calendar with finance, purchasing and the plants Tell shop floor and warehouse when the cutoff time is Back up or snapshot critical reports for the period Identify the organizations to close and their order #### Pending and uncosted transactions **Items:** **Text:** Review the Material Transactions Interface for pending or errored rows **Critical:** true **Text:** Resolve or purge pending transactions in the Resolve Pending Transactions window **Critical:** true **Text:** Check that the Cost Manager has processed all uncosted material transactions **Critical:** true Check for pending move transactions in the WIP interface Review pending resource transactions and fix errors Clear unprocessed shipping transactions in Order Management #### Receiving and purchasing **Items:** **Text:** Process or delete pending receiving transactions **Critical:** true Run the receipt accruals period-end program for uninvoiced receipts Reconcile the accrual accounts to the receiving subledger Review the intransit inventory report for stale shipments Check for received but not delivered items #### WIP and costing **Items:** Complete, cancel or leave in a valid status all jobs that need action **Text:** Close discrete jobs that are complete with no further charges **Critical:** true Review negative balances and negative component issues **Text:** Run the WIP value report and reconcile to the general ledger **Critical:** true Review job variances and investigate large amounts Run period close for cost-related processes such as inventory valuation Verify that cost updates have been completed and approved #### Close and reconcile **Items:** **Text:** Run the inventory value report for each organization **Critical:** true Run the transaction register and reconcile to subledger totals **Text:** Close the inventory accounting period in the Accounting Periods window **Critical:** true **Text:** Transfer transactions to General Ledger and clear any errors **Critical:** true Reconcile inventory, WIP and accrual accounts to the general ledger Document variances and adjusting entries Open the next period and confirm the status Archive reports and sign off the close **Scoring Note:** Steps and window names vary by release and by which modules you license. Adapt the list to your own close calendar and test it in a non-production instance before the first live close. ## Content **Intro:** Closing an inventory accounting period in Oracle EBS is easy to start and easy to block. Pending transactions, uncosted rows or unprocessed receipts will stop the close or push errors into the next period. **Sections:** #### How to use this checklist **Body:** Work through the groups in order and tick items as they are completed. The items marked critical are the ones that most often block a close or lead to a reconciliation gap. Print the checklist or export it to PDF and attach it to the close file so an auditor can see what was done and who signed off. #### Why pending transactions matter **Body:** Oracle will not let you close a period when material transactions are still pending, uncosted or in error in the interface. Resolving them early in the close calendar is the single most effective way to avoid last-minute surprises. Treat the interface tables as part of the daily routine, not a month-end task. **Bullets:** - Interface errors: fix at source or purge - Uncosted: confirm the Cost Manager is running - Receiving: process pending deliveries - WIP: resolve pending move and resource rows #### Reconciling to the ledger **Body:** After you close, the inventory value, WIP value and accrual balances should agree with the general ledger. Differences normally come from transactions posted to GL late, manual journals against control accounts or mismatches between cost methods. Investigate in this order: unposted subledger entries, manual entries, then valuation differences. #### Common mistakes **Body:** Closing inventory before receiving and WIP is done leaves accounting pointing at the wrong period. Another mistake is closing jobs with open charges, which pushes variance into the next period. Finally, skipping the reconciliation means errors only show up in the following month, when the context is gone. **Cta:** If your close takes days of manual reconciliation, we can help build read-only checks over your EBS data that flag blockers before close day. **Faq:** #### Can I close Inventory before WIP and Purchasing? **Answer:** Oracle supports separate period statuses by module, but the sequence matters. Most companies close receiving and WIP first so that the inventory close reflects all of their activity. #### What blocks the inventory period close? **Answer:** Pending material transactions, uncosted transactions, unresolved interface errors and pending shipping or receiving rows are the usual blockers. The Resolve Pending Transactions window shows many of them. #### Can a closed inventory period be reopened? **Answer:** Oracle provides a reopen option in some releases, with restrictions. Policy often requires approval, so plan the close carefully and test reopen behaviour in a non-production system. #### How often should we run this checklist? **Answer:** Every period, with the same owner and a date for each step. Update the list after any change to modules, plants or cost methods. ## Search terms oracle ebs inventory period close checklist, close inventory accounting period oracle, oracle period close steps, resolve pending transactions oracle, oracle wip period close, receipt accruals period end, oracle cost manager uncosted transactions --- Talk to an engineer: https://netray.co/contact?intent=erp_ai | Machine catalog: https://netray.co/agent/catalog.json