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SWAT Team Training

R12 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 Change
Release 12

Process Change - Close

11i

R12

Transactions

Transactions
Distributions

Distributions
Product Period Close

Balancing Lines
SLA Journals

Balancing Lines
Product Period Close

GL Journals

GL Balances

GL Journals
GL Balances

Close Dependencies

Inv
PO
AP

FA

PA
AR
CE

GL

Process Change - Reconciliation

11i

R12

Transactions

Transactions
Transactional
Reports

Distributions

Distributions
Balancing Lines

Balancing Lines
GL Journals

GL Balances

Accounting
Reports

SLA Journals

GL Journals
GL Balances

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General Steps
Release 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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Payables
Release 12

Close Checklist - Payables

1. Complete Transactions
a. 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 Period
a. 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

Date can help catch anomalies, as shown
below. At a glance, you can catch any Fully
Paid/Cancelled invoice appearing in the
report

AP Reconciliation Issues
1. Transactions do not appear in Open Account Balances
2.
3.
4.
5.

Listing report
Accounting does not appear in Account Analysis report
Cancelled invoices/payments result in errors in accounting
and reports
Create accounting program errors
Transfer to GL program errors

Best Practices
1. Reconcile R11i and R12 AP Trial Balance for upgraded
2.
3.
4.
5.

6.

period.
Include all LIABILITY accounts in Open Account Balances
Report Definition.
Explore the Control Account feature with Third Party
Balances report.
Avoid reversing batches (or modifying Journals) in GL, if
transferred by SLA.
Use Period Close Exception report prior to closing Periods
in GL and reconciling to Account Analysis & Trial Balance
reports.
Use only SLA or GL (not both) to create manual journal
entries for subledger transaction corrections.

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Receivables
Release 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 Assets
Release 12

Close Checklist Assets

1. Complete Transactions
a. 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 Management
Release 12

Close Checklist Cash Management

1. Load & Reconcile Bank Statements
a. Auto-Reconciliation Execution Report
2. Resolve Exceptions
3. Create Miscellaneous Transactions*
4. Resolve Unreconciled Lines
a. 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 Ledger
Release 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

Close Checklist General Ledger (per Ledger)

7. Reconcile Intercompany*
8. Close GL Period*
9. Consolidate Ledgers*
10. Run Final Reports

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Intercompany
Release 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.)

Intercompany Periods

For one period we can open

and close by transaction types

Intercompany Periods

You can decide

which period to
sweep all the
open
transactions to

Intercompany Reconciliation Summary

This is the Receivables

Balance in Vision Sweden

This is the Payables Balance

in Vision Norway

Intercompany Reconciliation Summary

By Source

Totals of the journals

posted in each of the legal
entities grouped by source
and category

The Payables balance in Vision NO is less than the

Receivables balance in Vision SE indicating Payables
invoices have not been posted.

Intercompany Reconciliation Journal Details

Details of the journals in Vision

Sweden

Other Resources

R12 Period End Close Whitepaper

Q&
A

QUESTIONS
ANSWERS