GL Accounting cycle can be further elaborated like this...

1.Open Period.

2.Create Functional and foreign journal entries.(including the journal import from legacy systems and subledgers).

3.Reverse journal entries.

4.Post the journals.

5.Review and correct the balances.

6.Revalue foreign currency balances.

7.Translate foreign currency balances.

8.Consolidate set of books.

9.Run accounting reports.

10.Close the accounting periods.

Thanks

K V Srinivasan

AP CYCLE IS AS FOLLOWS

• FIRST WE HAVE TO CREATE THE SUPPLIER DETAILS TAX CODES PAYMENTS TERMS ETC
• AP CYCLE STARTS FROM PO MODULE.
• ONCE THE PO IS CRATED IN PO MODULE
• PROCESSING INVOICES BATCHES
• RELEASING THE INVOICES FROM HOLDS IF ANY
• VALIDATE THE INVOICES BY INVOICE VALIDATION REQUEST
• ACCOUNT THE INVOICES BY PAYABLES ACCOUNTING PROCESS REQUEST
• RUN THE PAYMENT BATCHES
• POST THE AP TO GL BY AP TRANSFER TO GL FOR INVOICES AND PAYMENTS.
• THEN IT WILL GET STORED IN GL INTERFACE TABLE.