Hi There, What is General ledger Transfer in Accounting Close Cycle (INV)

Hi There,
What is "General ledger Transfer" in Inventory
<N>Accounting Close Cycle inside -->General ledger Transfer
Can any one breaf on the topic
Thanks Bachan
Message was edited by:
Bachan

Hi,
You can transfer a summarized inventory/work in process activity for a given period
into the general ledger interface. Using Journal Import in Oracle General Ledger, you can then post this information to the general ledger. 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 transferring detail entries, the accounting date in the GL_interface table is
populated with the period end date of the accounting period. 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.
Note: 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
Thanks,
Anish Daniel

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