Oracle EPM Month-End Close Checklist

Pre-Close Preparation

Confirm close calendar dates with Finance and IT teams

Verify all source system feeds are scheduled and confirmed

Confirm ERP period is open and mapped correctly in Data Management / FDMEEHIGH RISK

Check period mapping table — a common source of missing data issues

Back up the current EPM application (metadata + data)HIGH RISK

Confirm all users are logged out of forms before data load begins

Clear any existing data in target period if reloadingHIGH RISK

Review and resolve any open prior-period adjustments

Data Load & Integration

Execute data load from ERP / source systems via Data Management or FDMEE

Validate load log — confirm zero errors, zero unmapped membersHIGH RISK

Any unmapped member writes to #missing — review the log carefully

Verify actual data totals match source system trial balanceHIGH RISK

Load statistical data (headcount, units, etc.) if applicable

Load prior-period data if comparative reporting is required

Confirm exchange rates are loaded for all required currencies

Validate intercompany eliminations data is loaded

Calculation & Consolidation

Run all required business rules in correct sequenceHIGH RISK

Order matters — allocation rules must run before roll-up calcs

Run consolidation for all required entitiesHIGH RISK

Check consolidation status — all entities should show "CN" (consolidated)

Verify elimination entries are calculated correctly

Run currency translation if multi-currency environment

Confirm parent-level totals match entity-level roll-upsHIGH RISK

Check for any "impacted" or "needs consolidation" status flags

Run any equity pickup or ownership calculations

Validate PCM allocations if Profitability & Cost Management is in scope

Validation & Reconciliation

Perform balance sheet reconciliation — confirm assets = liabilities + equityHIGH RISK

Validate P&L — revenue, COGS, gross margin, operating expenses

Run variance analysis vs. prior period and vs. budget/forecast

Validate intercompany balances are fully eliminatedHIGH RISK

Confirm trial balance ties to source system at entity levelHIGH RISK

Review any cells showing #missing, #error, or unexpected zero valuesHIGH RISK

Validate KPI calculations — EBITDA, margins, ratios

Confirm FX translation differences are within acceptable range

Reporting & Distribution

Generate and review all standard management reports

Export financial statements for CFO / Board review

Validate Smart View reports — confirm data matches EPM application

Distribute reports per the agreed distribution list and timeline

Lock the period in EPM to prevent further data changesHIGH RISK

Apply process management lock or user access restriction

Archive a snapshot of the final consolidated data

Document any manual adjustments made during close with audit trailHIGH RISK

Post-Close Sign-Off

Finance sign-off received from Controller / CFOHIGH RISK

IT / EPM Admin confirms period is locked

Close checklist filed in shared drive for audit trail

Issues log updated with any items carried forward to next period

Next close date confirmed and calendar updated

Lessons learned noted for process improvement

Pro tips from the field

Always check the Data Management load log — most "missing data" issues trace back to unmapped members.
Run a test consolidation before the official close to catch calculation errors early.
Lock the period immediately after sign-off — open periods get edited accidentally more often than you'd think.
If a business rule takes longer than usual, check for dense block creation before re-running.
Keep a close issues log — recurring problems are usually fixable with a one-time permanent fix.

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Month-End CloseChecklist