Period end closure document r 12
Transcript of Period end closure document r 12
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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
FAAPPO
PA
CEAR
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 Transactions2. Create Accounting3. Reconcile Transactions4. Post to GL5. Reconcile Accounting6. Close Period
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PayablesRelease 12
Close Checklist - Payables 1. Complete Transactions
a. Invoices On Hold Report
2. Approve Invoices3. Complete Payments4. Reconcile Payments/Bank Statements5. Resolve Potential Accounting Issues*
a. Create Accountingb. Journal Entries Reportc. Unaccounted Transactions Report
6. Post (GL) Payables Transactions*
Close Checklist - Payables 7. Review Accounting*
a. Payables Accounting Process Reportb. Posted Invoices Registerc. Posted Payments Register
8. Unaccounted Transactions Sweep*9. Close Payables Period
a. Subledger Period Close Exceptions Report*
10.Accrue Un-invoiced Receipts11.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 report2. Accounting does not appear in Account Analysis report 3. Cancelled invoices/payments result in errors in accounting
and reports4. Create accounting program errors5. Transfer to GL program errors
Best Practices1. 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 Transactions2. Review Unapplied Receipts4. Reconcile Receipts to Bank Statement5. Change Period Status to Close Pending6. Create Accounting7. Review Unposted Items Report*8. Reconcile Transaction Activity*
a. Transaction Registerb. Sales Journalsc. Receipt Registerd. Receipt Journals Report e. Journal Entries Report
Close Checklist - Receivables9. Reconcile Outstanding Customer Balances*
a. Aging Report (last period)b. Transaction Registerc. Adjustments Registerd. Invoice Exceptionse. Applied Receipts Registerf. Unapplied Receipts Registerg. Aging Report (this period)
10.Post (GL) Receivables Transactions*11.Print Invoices12.Print Statements13.Print Dunning
Close Checklist - Receivables14.Reconcile Receivables Activity to GL*
a. AR Reconciliation Reportb. AR-GL Reconciliation Reportc. Third Party Balances Reportd. Account Analysis Report
15.Close Receivables Period*a. Subledger Close Exceptions Report b. Change Period Status to Closedc. Open Next Period
16.Tax Reporting
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Fixed AssetsRelease 12
Close Checklist – Assets 1. Complete Transactions
a. Mass Additionsb. Manual Additionsc. Adjustmentsd. Retirementse. Transfersf. Reinstatements
2. Assign All Assets to Distribution Lines3. Calculate Gain/Loss4. Run Depreciation*5. Create Accounting*6. Rollback Depreciation* for adjustments7. Run Depreciation* to close the period
Close Checklist – Assets 8. Post (GL) Asset Transactions9. Reconcile Assets & GL*
a. Reserve Ledger Reports1) General Ledger Reserve Report2) Tax Ledger Reserve Report3) Account Reconciliation Reserve Ledger Report
b. Balances Reports1) Cost Detail/Summary2) CIP Detail/Summary3) Reserve Detail/Summary4) Revaluation Detail/Summary
c. GL Reports1) Journals – Posted/Unposted2) Account Analysis
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Cash ManagementRelease 12
Close Checklist – Cash Management 1. Load & Reconcile Bank Statements
a. Auto-Reconciliation Execution Report
2. Resolve Exceptions3. Create Miscellaneous Transactions*4. Resolve Unreconciled Lines
a. Bank Statement Detail Reportb. Transactions Available for Reconciliation Report
5. Reconcile to GL*a. GL Reconciliation Reportb. 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 Open2. Import & Post SLA & Feeder Systems*
a. Import Journals 1. Journal Import Execution Report2. Delete Journals in Error3. Correct via Correct Journal Import Data4. Re-import
b. Post Journals
3. Post All Journals (after correcting posting errors)4. Run and Review Journals Reports5. Run Revaluation6. 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 SA N S W E R SA N S W E R S