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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

Balancing Lines SLA Journals

Product Period Close

GL Journals
GL Journals

GL Balances GL Balances
Close Dependencies

Inv
PO
AP FA
PA
AR GL
CE
Process Change - Reconciliation

11i R12

Transactions Transactions
Transactional
Reports
Distributions
Distributions
Balancing Lines

Balancing Lines SLA Journals

GL Journals Accounting
Reports GL Journals

GL Balances 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
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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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 This is the Payables Balance in Vision

Vision Sweden 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