r12 Gl Period Close

5/26/2018 r12 Gl Period Close

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Copyright 2007, Oracle. All rights reserved.

Period Close

R12 General Ledger Management Fundamentals


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Objectives

After completing this lesson, you should be able to do thefollowing:

Explain the accounting cycle

Identify steps in the close process

Perform journal import of subledger balances

Reconcile to the subledgers

Run revaluation

Close the period

Consolidate account balances

Inquire and run reports on final balances


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Review/CorrectBalances

Run Reports/Close Period

Open Period

Create/ReverseJournal EntriesPost

Review

Revalue/Translate

Consolidate

The Accounting Cycle


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Period Close Checklist

Transfer and import data from all subledgers

Perform reconciliation of subsidiary ledgers

Close the period for each subledger

Revalue foreign currency balances Verify all journals are posted

Reconcile account balances

Translate balances to parent's currency

Consolidate subsidiary ledgers Run Trial Balance and other reports

Close the period and open the next period


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Subledgers

Automatic or Manual

JournalImport

Post

GL_JE_BATCHESGL_JE_HEADERS

GL_JE_LINES

GL_INTERFACE

Transfer in Summaryor Detail

GL_BALANCES

Overview of Importing Journal Entries


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No

Load GL_INTERFACEtable

Import journals bySource and Group ID

Do journalshave errors?

Numberoferrors?

Correct errors infeeder system

Journal importcreates a postable

journal batch

Delete source fromJournal Import -

(Not Oracle Subledger)

Correct JournalImport online

(See Caution below)

High

Low

Yes

Journal Import Verification Process


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Post journal

Enter journal

Prepost $500

Journal entry $ 25

After post $525

Account Balance

Report and inquireon updatedaccount balances

Posting Journals


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Subledgers

Reports

Analysis

Reconciling Subledger Data

Procure to Pay

Order to Cash

Projects

Non Oracle Subledgers


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Close the Subledgers

Close Period

Subledgers


10/41Copyright 2007, Oracle. All rights reserved.

P2P Close Processes

Inventory

Payables

General LedgerAssets

Purchasing/iProcurement

Payables Transferto General Ledger

MassAdditions

Create

Post MassAdditions/

Depreciation

GL Interface

Receipt Accruals- Period End

TransferTransactions

to GL

Create JournalEntries



Overview of the P2P Period Close

Run InvoiceValidation/Review and

resolve holds

Run

PayablesAccountingProcess to

Transfer

Closethe

period inAP

Reconcile APactivity forthe period

Post journalentries in GL

Preparefor period

close

Close thePO period

Run POPeriod

Accruals



Reconcile AP to GL

March Accounts Payable Trial Balance+ April Posted Invoice Register- April Posted Payment Register

- April Accounts Payable Trial Balance

= 0



Reports

Accounts Payable Trial Balance

Accrual Rebuild Reconciliation Report

Accrual Reconciliation Report

Accrual Write-Off Report

Matched and Modified Receipts Report

Payables Account Analysis Report

Unaccounted Transactions Report

Uninvoiced Receipts Report



Reports (continued)

Payables Accounting Entries Report

Posted Invoice Register

Posted Payment Register

Receipt Accruals - Period End

Receiving Account Distribution Report



Reports (continued)

Unaccounted Transactions Report

Uninvoiced Receipts Report

Reports



O2C Period Close Process

Inventory

Receivables

General LedgerOrder Management

CashManagement

Transfer toGeneral Ledger

AutoInvoice

Send allOrders/Credit

Memos

GL Interface

ReceiptReconciliation

TransferTransactions

to GL



Overview of O2C Period Close Process

Postjournalentriesin GL

Review, balance,and reconcileReceivables,CashManagement,and Inventorytransactions

Complete thetransfers fromReceivablesand Inventoryto theGeneral Ledger

Review thetransferresults, andcorrecttransferissues

Close Receivablesand InventoryPeriods



Transferring Inventory and Receivables

PostingExecution Report

Transactions inbalance

Unposted ItemsReport

GL InterfaceTable

Transactionsout of balance

Submit GL Interfaceprogram



O2C Standard Reports

Inventory and Receivables provide a comprehensive

set of reports and listings Use these reports to review and reconcile transactions,

receipts, journals, and customer balances



Reconciling Receivables Transactions, Receipts,and Customer Balances

Sales Journal by

customerTransactionregister

Receipt register

Opening balance

+ Transactions- Receipts= Closing balance

Sales Journal

by GL Account Journal Entries

Report

Receipts JournalReport

Reconciletransactionsand receipts

Reconciletransaction and

receipt accountingflexfield balances

Submit GLInterface process

Reconcileoutstanding

customer balances



Mapping Receivables Transactionsto General Ledger Categories

Category in General Ledger

Debit Memos

Credit Memos and Credit

Memo ApplicationsCredit Memos

Sales Invoices

Chargebacks

Trade Receipts

Adjustments

Sales Invoices

Miscellaneous Receipts

Sales Invoices

Transaction Type

Debit Memos

Credit Memos

On-Account Credits

Invoices

Chargebacks

Receipts

Adjustments

Guarantees

Miscellaneous Transactions

Deposits

Oracle Receivables Transactions



GL Reconciliation Report forCash Management

The GL Reconciliation Report:

Reconciles the General Ledger cash account to thebank statement balance

Lists the General Ledger cash account balance and

adjusted balance

Lists separately the adjustment amount forunreconciled receipts, payments, journal entries, andbank errors



Project Close Cycle

Projects

Payables

General LedgerAssets

Transfer PayablesInvoices and

Expense Reports

MassAdditions

Create

Post MassAdditions/

Depreciation

GL Interface

Transfer OpenPurchase Orders

TransferLabor and

Usage Costs

Create JournalEntries

Purchasing

Transfer Project

Assets

&



Overview of Project Closing Cycles

Entertransactions

ClosingCyclePreparation

Tasks

Post ClosingTasks

ClosingCycle Tasks



Closing a PA Period

The final step before fully closing the current PA periodis to interface revenue with the General Ledger. Runthe process

PRC: Interface Revenue with General Ledger

It is at the discretion of the user when to set the currentPA period to the new PA period



Period-Closing Exception Reports

Use the following period-closing exception reports toidentify transactions that have not been processedsuccessfully and that would prevent you from closingthe PA period

EXC: Summarization Period Exceptions EXC: Transaction Exception Details

EXC: Transaction Exception Summary

Corrected the exceptions and close the PA period



REVALUE

Period Rates

General Ledger uses:

Period-average and period-end rates when youtranslate your actual and budget account balances

The revaluation rate when you revalue account

balances that are denominated in a foreign currency


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Revalue ForeignCurrency Balances

Reverse RevaluationJournals

Is the foreign CurrencyReceivable Still Unpaid?

Collect ForeignCurrency Receivable

No

Post to UnrealizedGain/Loss Account

Post to RealizedGain/Loss Account

Yes

Running Revaluation


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REVALUE 1 Euro = .81 US Dollars

CR. Unrealized Gain.. 100 US$

Entered Journal Entry Lines

DR. Accounts Receivable.10,000 Euro

CR. Revenue10,000 Euro

Convert 1 Euro = .8 US Dollars

DR. Accounts Receivable. 8,000 US$CR. Revenue... 8,000 US$

DR. Accounts Receivable. 100 US$

Revaluation Example


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OpenPeriod

ClosedPeriod

PermanentlyClosed Period

NeverOpened

FutureEnterable

Accounting Period Status


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Balance Sheet Close

Meets global audit and statutory reportingrequirements

Closes your balance sheet accounts to a specifiedbalance sheet closing account

You can automatically reverse this journal at thebeginning of the next period


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Income Statement Close

Run Income Statement Close at any time topredetermine the effect of a close, or perform pro-forma reporting

Create actual closing entries to meet auditing

requirements Close your income statement accounts to the retained

earnings account or another account


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TRANSLATE

Historical Rates

Historical Rates are:

Weighted average rate for transactions that occur atdifferent times

Used to report journal entry line amounts in the units of

money that were current when the transactions tookplace


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Foreign currency

Functional currency

FunctionalBalance Sheet

Assets Liabilities

ForeignBalance Sheet

Assets Liabilities

100,000 60,000

Period endRate = 0.75

HistoricalRate = 0.70

75,000 45,000

Owner's Equity

Owner's Equity40,000

28,000

Period end

Rate = 0.75

Foreign Currency Translation


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Overview of Consolidations

With Oracle General Ledger, you can consolidate anynumber of subsidiaries that use different ledgers

Subsidiary 1 Subsidiary 2 Subsidiary 3

Parent

Run Consolidation


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Global Consolidation System (GCS) Features andBenefits

Global Consolidation System provides:

A workbench to view the consolidation status

Sophisticated consolidation mapping rules

A color-coded consolidation monitor that guides youthrough the consolidation steps

A Consolidation Hierarchy Viewer to graphicallydisplay your consolidation structure

Automatic generation of eliminating entries

Multilevel drilldown capabilities to subsidiary balances

Powerful report publishing capabilities using FSG


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Subsidiaryledgers

Parentledger

GL_INTERFACE

table

Run consolidation

Run journal import

Postconsolidation batch

Consolidationjournal

Consolidating Ledgers


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Reporting Options

Reporting WebFunction OI Std FSG ADI EPB BIS Disc RXi

Review Balances

Summary/detail - - - -Journals - - - -Subledger - - - - - - -Preseeded - - - - -Create Financials - - - - -Create Report Sets - - - - -Auto Schedule

-

-

-

-

Publish to web - - - - - -Query live data - - -Snapshot - - - - -


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(B) ShowBalances

(B) ShowJournal Details

(B) ShowVariance

SummaryBalances

Variance

Journals

DetailBalances

AccountInquiry

Journals(Inquire)

Performing Account Inquiry


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RequestSets

StandardReports

Helpful Closing Reports

Consolidation Exceptions Reports:

Unmapped Subsidiary Report

Disabled Parent Accounts Report

Consolidations Rules Report

Consolidations Audit Report

Trial Balance Reports:

Detail

Summary

Translation


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Summary

In this lesson, you should have learned how to:

Explain the accounting cycle

Identify steps in the close process

Perform journal import of subledger balances

Reconcile to the subledgers

Run revaluation

Close the period

Consolidate account balances

Inquire and run reports on final balances

r12 Gl Period Close

Documents

noload gl

subledger balances

journal entry

account balancereport

group iddo journalshave

invoice register

summaryor detailgl

payment reg