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SWAT Team TrainingR12 Period Close and Reconciliation
Joe Gum & Linda Wong, Financials Product Strategy
Agenda
• Process Changes & Dependencies • Close Process
• General• Payables• Receivables• Assets• Cash Management• General Ledger
• Intercompany Reconciliation• Q & A
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Process ChangeRelease 12
Process Change - Close
Transactions
Distributions
GL Balances
Transactions
Distributions
GL Journals
Balancing Lines
GL Balances
11i R12
SLA Journals
Product Period Close
Product Period Close
GL Journals
GL Balances
Balancing Lines
Close Dependencies
GL
FAAP
PO
PA
CE
AR
Inv
Balancing Lines
Process Change - Reconciliation
Transactions
Distributions
GL Journals
GL Balances
Transactions
Distributions
GL Journals
Balancing Lines
GL Balances
11i R12
SLA Journals
Transactional Reports
AccountingReports
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General StepsRelease 12
Close Process – General Steps
1. Complete Transactions
2. Create Accounting
3. Reconcile Transactions
4. Post to GL
5. Reconcile Accounting
6. Close Period
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PayablesRelease 12
Close Checklist - Payables
1. Complete Transactionsa. Invoices On Hold Report
2. Approve Invoices
3. Complete Payments
4. Reconcile Payments/Bank Statements
5. Resolve Potential Accounting Issues*a. Create Accounting
b. Journal Entries Report
c. Unaccounted Transactions Report
6. Post (GL) Payables Transactions*
Close Checklist - Payables
7. Review Accounting*a. Payables Accounting Process Report
b. Posted Invoices Register
c. Posted Payments Register
8. Unaccounted Transactions Sweep*
9. Close Payables Perioda. Subledger Period Close Exceptions Report*
10. Accrue Un-invoiced Receipts
11. Reconcile Payables Activity to GL*a. AP Trial Balance Report* (Account definition, Data Mgr Program)
b. Third Party Balances Report*
c. Account Analysis Report*
12. Mass Addition Transfer to Assets
New and Improved AP Trial Balance
• Multiple Formats, Group By Account & Supplier. Summary & Detail. Outputs in *.pdf, *.xml • Ability to rebuild the Trial Balance definition anytime• New columns on the report to highlight anomalies• Capture Accounting Class Code=LIABILITY only• Display invoices if payments are accounted prior to invoices in AP
Payment Status as of Date & Cancellation Payment Status as of Date & Cancellation Date can help catch anomalies, as shown Date can help catch anomalies, as shown
below. At a glance, you can catch any Fully below. At a glance, you can catch any Fully Paid/Cancelled invoice appearing in the Paid/Cancelled invoice appearing in the
reportreport
AP Reconciliation Issues
1. Transactions do not appear in Open Account Balances Listing report
2. Accounting does not appear in Account Analysis report
3. Cancelled invoices/payments result in errors in accounting and reports
4. Create accounting program errors
5. Transfer to GL program errors
Best Practices
1. Reconcile R11i and R12 AP Trial Balance for upgraded period.
2. Include all LIABILITY accounts in Open Account Balances Report Definition.
3. Explore the Control Account feature with Third Party Balances report.
4. Avoid reversing batches (or modifying Journals) in GL, if transferred by SLA.
5. Use Period Close Exception report prior to closing Periods in GL and reconciling to Account Analysis & Trial Balance reports.
6. Use only SLA or GL (not both) to create manual journal entries for subledger transaction corrections.
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ReceivablesRelease 12
Close Checklist – Receivables
1. Complete Transactions
2. Review Unapplied Receipts
4. Reconcile Receipts to Bank Statement
5. Change Period Status to Close Pending
6. Create Accounting
7. Review Unposted Items Report*
8. Reconcile Transaction Activity*a. Transaction Register
b. Sales Journals
c. Receipt Register
d. Receipt Journals Report
e. Journal Entries Report
Close Checklist - Receivables
9. Reconcile Outstanding Customer Balances*a. Aging Report (last period)
b. Transaction Register
c. Adjustments Register
d. Invoice Exceptions
e. Applied Receipts Register
f. Unapplied Receipts Register
g. Aging Report (this period)
10. Post (GL) Receivables Transactions*
11. Print Invoices
12. Print Statements
13. Print Dunning
Close Checklist - Receivables
14. Reconcile Receivables Activity to GL*a. AR Reconciliation Report
b. AR-GL Reconciliation Report
c. Third Party Balances Report
d. Account Analysis Report
15. Close Receivables Period*a. Subledger Close Exceptions Report
b. Change Period Status to Closed
c. Open Next Period
16. Tax Reporting
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Fixed AssetsRelease 12
Close Checklist – Assets
1. Complete Transactionsa. Mass Additions
b. Manual Additions
c. Adjustments
d. Retirements
e. Transfers
f. Reinstatements
2. Assign All Assets to Distribution Lines
3. Calculate Gain/Loss
4. Run Depreciation*
5. Create Accounting*
6. Rollback Depreciation* for adjustments
7. Run Depreciation* to close the period
Close Checklist – Assets
8. Post (GL) Asset Transactions
9. Reconcile Assets & GL*a. Reserve Ledger Reports
1) General Ledger Reserve Report
2) Tax Ledger Reserve Report
3) Account Reconciliation Reserve Ledger Report
b. Balances Reports
1) Cost Detail/Summary
2) CIP Detail/Summary
3) Reserve Detail/Summary
4) Revaluation Detail/Summary
c. GL Reports
1) Journals – Posted/Unposted
2) Account Analysis
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Cash ManagementRelease 12
Close Checklist – Cash Management
1. Load & Reconcile Bank Statementsa. Auto-Reconciliation Execution Report
2. Resolve Exceptions
3. Create Miscellaneous Transactions*
4. Resolve Unreconciled Linesa. Bank Statement Detail Report
b. Transactions Available for Reconciliation Report
5. Reconcile to GL*a. GL Reconciliation Report
b. Account Analysis Report for Cash Account
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General LedgerRelease 12
Close Checklist – General Ledger (per Ledger)
1. Ensure Next Period is Future Enterable or Open
2. Import & Post SLA & Feeder Systems*a. Import Journals
1. Journal Import Execution Report
2. Delete Journals in Error
3. Correct via Correct Journal Import Data
4. Re-import
b. Post Journals
3. Post All Journals (after correcting posting errors)
4. Run and Review Journals Reports
5. Run Revaluation
6. Run Translation
7. Reconcile Intercompany*
8. Close GL Period*
9. Consolidate Ledgers*
10. Run Final Reports
Close Checklist – General Ledger (per Ledger)
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IntercompanyRelease 12
Intercompany Reconciliation
• Compare the balance of intercompany accounts for a pair of trading partners to see if they match
• Drill down to General Ledger Balances• Drill down to journals in GL, SLA and subledger
transactions (invoices, etc.)
For one period we can open and close by transaction types
Intercompany Periods
You can decide You can decide which period to which period to sweep all the sweep all the
open open transactions totransactions to
Intercompany Periods
This is the Receivables This is the Receivables Balance in Vision SwedenBalance in Vision Sweden
This is the Payables Balance This is the Payables Balance in Vision Norwayin Vision Norway
Intercompany Reconciliation Summary
Totals of the journals Totals of the journals posted in each of the legal posted in each of the legal entities grouped by source entities grouped by source
and categoryand category
The Payables balance in “Vision NO” is less than the The Payables balance in “Vision NO” is less than the Receivables balance in “Vision SE” indicating Payables Receivables balance in “Vision SE” indicating Payables
invoices have not been posted.invoices have not been posted.
Intercompany Reconciliation SummaryBy Source
Details of the journals in Vision Details of the journals in Vision SwedenSweden
Intercompany Reconciliation Journal Details
Other Resources
• R12 Period End Close Whitepaper
AQ&Q U E S T I O N SQ U E S T I O N S
A N S W E R SA N S W E R S