R12 AR Month End Close and Reconciliation Posted on April ist, 2009 by Sanjit Anand [8 Print This Post | Email This Post 4s requested by same of reader, Here are stens and checklist for R12 AR Month End Close and Reeanailiation, 1, Complete All Trensacticns for the Period Being Clesed 2, Complete and review your unapplied reveints 3, Recancile Receipts to Bank Statement Activity for the Period 4, Change geriod status to Close Pending Navigate ..Cantrol>Accounting> Open/Clase Periods Donat get confused with various status of periods: Navigate .Conttob Acsourting>OperVClose Periods Donct get confused with various status of porads ‘+ Closed: Journal entry, pasting, nd transacton entry are not ellewed urless the acccuntingpavied is recnaned. Receivables \orfas that thors aro no unpested tans in this pored, Racaivatlos docs not lot you tase @neriod that contains unposted items 1+ Close Pending: similar to Closed, but cas not validate for Inpested items. saurnal entry, posting, and transaction ere'y ars not alowed unless the accountng perio is reopened. ‘+ Euure: This penodis not yet epen, but vou can ontar transactions inthis pariod, Howovor, you eannat postin this pariod tnt you open Net Opened: Ths period has never been opanad and jaumal entry ane posting are ner alowed ‘aan: Joumal erty and pest are allowedDuct the introduction a the Subladger counting Architect in Release 12 this step is naw, 25 enables you to weate accounting for your completed transactions, which willie feed into Ganerl Ledgar Check out ol Nabas (ere, Here, hore Hor SLA Process .Revigw Unposted tems Repo ‘You tan review tho Unaostad Stns Foporta dstamine if any exeepbons have Yeon erenutrad, that wil re tos resohaK, to nse al aaunting has bean suozestulfr all ransactons 1 Recon Traneactin Act forthe Pariod (Transaction & Recipe) Transaction Regstor Total fo Ratan ams = Sass Houma by Gt. Aovount ere Reco Acvoune TYE (Tots OTA oa + Receise Recster 1 Receis ournals Report tn theory this step i unchanged between Release 11i and Relagce 12's uct important to note that you should nat be tying ta recone distributions on transacbons to atcaunt balances, as those aro net necossanly ba final accounting for those transactions {cheek that Rocevables Recints Salance by cunning tha Receipt Joural report andthe Recent Ragister forthe sare 2. Lise the Receipt Journal ta View infermation about Recsipts that appear in your Journal Entries reaort, Use the Receipt Reaister to Review alist of receipts far the date range that you specify. The total of the Receiot Journal should equal the totel of all receipts in the Receipt Register. These resorts display information about both Invoice-Related and Miscellanzous Receiats: 8.Reconcile outstanding customer balances + Aging Report (lest period) Transaction Register = Adjustmonts Rogistar Invoice Exceptions ‘= Applied Receipts Register = Unappliod Receipts Register = Aging Report (this period)Most ofthase repeits havent changed betwacn Relaase 111 and Release 12, excep that thay look atthe SLAtabes instead ofthe pa tables ‘you are coming For 12ise R22, you should note that ther is change ining Repotsiacing - 7 Buskets ) Behaviour Few High Points of changes ere:[adpoted User Gude] ‘+ Inelezseu she acing Reports pul the date crecty from te ar_payment schesiles_alltale while in lease 22 te devas pled from the SLA ablae after when Create aerountng is ru, «+ Inrelaace 13, al the transactions used to appear on allthe aging Reports, (9 The transactions ara sassiad into three sections, name 1 Those rancarhans whch were aecuntedfor m SL through the GL ntarace oncom, 2. Those tansadions for which aumurting could nat ba gunsrated borause they were casted wih the Nag ‘Baskin GL* ‘3s unehecked 5 Those ransacions, which were created with wansaction type having the lg “Bost Gu" as checked but were howaver, not interfaced to SL, 9.Post Receivables transactions in General Ledger LO.Reconciling AR ond GL Balances ‘The following is list of the Critical Renorts reuired for Reconcilabon between AR and GL Journal enttias Report (aR) ‘Salas Journal by GL Account Repart (AR) ‘+ Rocolpt Journal Report (a) + Account Analysis Subledzer Detal-120 Char (GL) + Third Party aalance Report (New to R12) + AR Reconcilstion Report (AR) ‘The Total activity in a period is calculated as follows: Transaction Reg)ster for the Period (0 Aapiied Receipts Register for the Parioc (© Un-nopliad Receipts Ragister for the Period (4) Adjustmants Rogistor for tha Poricd (Invoice Exceptions for the Period () Rounaing Differences for the Period G4) Credit Memo gainjloss for the Period11.Close AR Period + Subledger Clese Exception Period From Receivables Respansibilities: Navigate to Control --> Requests > Run Subledyer Period Clase Exceptions Regort © Change Period status to Closed © Open next Period Thats all about R12 Month End Close and Recancilation af AR, Additional Reading © ARto GL Transfer © ARto GL Transfer Part I1