R12 Financial Period End Closing & Reconciliation

R12 Financial Period End Closing
& Reconciliation
Module
• Cash Management
• Payable
• Receivable
• Inventory – Cost Mgt
• Asset
• General Ledger
Cash Management Reconcile
Create
Load & Reconcile Resolve Exceptions MiscellaneousTr Resolve Unreconciled Reconcile to
Bank Statement ansactions Lines General Ledger
12
Receivables Period Close
Complete All Internal Bank Transfer to Review Close / Open

Txns Reconciliation Reconciliation GL Result Period
14
Complete All Transactions
• Ensure that all transactions have been entered for the period being closed
• Such as
– Invoices, Credits and Adjustments
– Receipts and Reversals
17
Internal A/R Reconciliation
• Reconcile Transactions
• Reconcile Outstanding Customer Balance
• Reconcile Receipts
18
Reconcile Transactions
TRANSACTION REGISTER (CURRENT PERIOD)
SALES JOURNAL By GL ACCOUNT(CURRENT PERIOD)

[see the Receivable Account Type DR - CR]
19
Transaction Register
(N) Reports > Accounting
Corporate Set Of Books Transaction Register Report Date: 10-SEP-2005 16:48:01
Page: 1 / 2
Company: 01
Postable Currency Class

----------- ---------------- ------------------
Customer Invoice Functional
Invoice Number Document Num Type Customer Name Number Date GL Date Invoice Currency Currency
-------------- ------------ -------- -------------------- -------- ----------- ----------- ---------------- ----------------
Yes IDR Credit Memo
210006 Credit M PT XYZ 1003 06-AUG-2005 06-AUG-2005 <110,000.00> <110,000.00>
---------------- ----------------
Sum For Credit Memo Class <110,000.00> <110,000.00>
Invoice
110006 Invoice- PT XYZ 1003 05-AUG-2005 05-AUG-2005 1,110,000.00 1,110,000.00
110010 Down Pay PT XYZ 1003 06-AUG-2005 06-AUG-2005 33,000.00 33,000.00
210005 Invoice- PT XYZ 1003 06-AUG-2005 06-AUG-2005 70,000.00 70,000.00
210010 Invoice- Perusahaan Listrik N 1002 13-AUG-2005 13-AUG-2005 10,000.00 10,000.00
210011 Invoice- PT - ASG 1007 13-AUG-2005 13-AUG-2005 10,000.00 10,000.00
210024 Invoice- PT - ASG 1005 13-AUG-2005 13-AUG-2005 1,100,000.00 1,100,000.00
210029 Invoice- pt test1 1023 15-AUG-2005 15-AUG-2005 100,000.00 100,000.00
---------------- ----------------
Sum For Credit Memo Class 8,913,000.00 8,913,000.00
---------------- ----------------
Sum For IDR Currency 8,803,000.00 8,803,000.00
---------------- ----------------
Sum For Yes postable in Functional Currency 8,803,000.00 8,803,000.00
20
Corporate Set Of Books Transaction Register Report Date: 10-SEP-2005 16:48:01
Page: 1 / 2
Company: 01
Postable Currency Class

----------- ---------------- ------------------
Customer Invoice Functional
Invoice Number Document Num Type Customer Name Number Date GL Date Invoice Currency Currency
-------------- ------------ -------- -------------------- -------- ----------- ----------- ---------------- ----------------
Yes IDR Credit Memo
210006 Credit M PT XYZ 1003 06-AUG-2005 06-AUG-2005 <110,000.00> <110,000.00>
---------------- ----------------
Sum For Credit Memo Class <110,000.00> <110,000.00>
Invoice
110010 Down Pay PT XYZ 1003 06-AUG-2005 06-AUG-2005 33,000.00 33,000.00
210010 Invoice- Perusahaan Listrik N 1002 13-AUG-2005 13-AUG-2005 10,000.00 10,000.00
210024 Invoice- PT - ASG 1005 13-AUG-2005 13-AUG-2005 1,100,000.00 1,100,000.00
---------------- ----------------
Sum For Credit Memo Class 8,913,000.00 8,913,000.00
---------------- ----------------
Sum For IDR Currency 8,803,000.00 8,803,000.00
---------------- ----------------
Sum For Yes postable in Functional Currency 8,803,000.00 8,803,000.00
21
Sales Journal by GL Account
Corporate Set Of Books Sales Journal by GL Account Report Report Date: 10-SEP-2005 16:46
GL Date 01-AUG-2005 - 31-AUG-2005 Page: 1
Currency:
GL Account: To
Posting Status:
GL Account Type: Receivable
Customer ------- Foreign Currency ------ ----- Functional Currency -----

Invoice Number Type Customer Name Number GL Date Debit Amount Credit Amount Debit Amount Credit Amount
-------------------- ------- -------------------- -------- --------- --------------- --------------- --------------- ---------------
Accounting Flexfield: 01.000.113101.00.00
110006 Invoice PT XYZ 1003 05-AUG-05 1,110,000.00

110010 Down Pa PT XYZ 1003 06-AUG-05 33,000.00
210005 Invoice PT XYZ 1003 06-AUG-05 70,000.00
210006 Credit PT XYZ 1003 06-AUG-05 110,000.00
210010 Invoice Perusahaan Listrik N 1002 13-AUG-05 10,000.00
210011 Invoice PT - ASG 1007 13-AUG-05 10,000.00
210024 Invoice PT - ASG 1005 13-AUG-05 1,100,000.00
210029 Invoice pt test1 1023 15-AUG-05 100,000.00
--------------- --------------- --------------- ---------------
8,913,000.00 110,000.00
--------------- --------------- --------------- ---------------
Totals : 8,913,000.00 110,000.00
=============== =============== =============== ===============
22
Sales Journal by GL Account
Corporate Set Of Books Sales Journal by GL Account Report Report Date: 10-SEP-2005 16:46
GL Date 01-AUG-2005 - 31-AUG-2005 Page: 1
Currency:
GL Account: To
Posting Status:
GL Account Type: Receivable
Customer ------- Foreign Currency ------ ----- Functional Currency -----

Invoice Number Type Customer Name Number GL Date Debit Amount Credit Amount Debit Amount Credit Amount
-------------------- ------- -------------------- -------- --------- --------------- --------------- --------------- ---------------
Accounting Flexfield: 01.000.113101.00.00

110010 Down Pa PT XYZ 1003 06-AUG-05 33,000.00
210006 Credit PT XYZ 1003 06-AUG-05 110,000.00
210010 Invoice Perusahaan Listrik N 1002 13-AUG-05 10,000.00
210024 Invoice PT - ASG 1005 13-AUG-05 1,100,000.00
--------------- --------------- --------------- ---------------
8,913,000.00 110,000.00
--------------- --------------- --------------- ---------------
Totals : 8,913,000.00 110,000.00
=============== =============== =============== ===============
23
Reconcile Outstanding Customer Balance
AGING REPORT (LD PREV PERIOD)

+
TRANSACTION REGISTER (CURRENT PERIOD)
+/-
ADJUSTMENT REGISTER (CURRENT PERIOD)
-
INVOICE EXCEPTION REPORT (CURRENT PERIOD)
-
APPLIED RECEIPTS REGISTER (CURRENT PERIOD)
-
UNAPPLIED RECEIPTS REGISTER (CURRENT PERIOD)
-
AGING REPORT (LD CURRENT PERIOD)
=0
LD : Last Date
24
Aging Report (Last Date of Previous Period)
(N) Reports > Collection
25
26
Adjustment Register
27
Invoice Exception Report
28
Applied Receipts Register
29
Aging Report (Last Date of Current Period)
(N) Reports > Collection
30
AR Reconciliation Report
31
Reconcile Receipts
RECEIPT REGISTER
RECEIPT JOURNAL REPORT
32
Receipt Register
33
Receipt Journal
34
Transfer to GL
(N) Interfaces > General Ledger
35
Review Results
GL TRANSFER PROCESS EXECUTION REPORT
VS
SALES AND RECEIPT JOURNAL REPORT
After transactions and receipts transferred to the GL Interface Table
JOURNAL ENTRIES REPORT
VS
SALES AND RECEIPT JOURNAL REPORT (in ‘Transaction’ mode)
36
Journal Entries Report
37
Close/Open Period
(N) Control > Accounting > Open/Close Periods
38
Payables Period Close
Complete All Approve All Review & Bank Transfer to Review Close / Open
Invoices Invoices Resolve Reconciliation GL Sweep
Result Period
39
Complete All Transactions
• Ensure that all transactions have been entered for the period being closed
• Such as
– Non PO Invoices
– Match to PO Invoices
– Credit Memos
– Prepayments
– Etc.
42
Approve All Invoices
(N) Invoices > Entry > Invoices; (B) Actions… 1
43
Review and Resolve
• Review Invoice on Hold Report
• Review Payables Accounting Entries Report
• Review Unaccounted Transactions Report
• Run and Confirm Payment Batch (optional) or
• Enter Single Payments
44
Review Invoice on Hold Report
(N) Other > Requests > Run
45
Review Invoice Register
46
Review Unaccounted Transactions Report
47
Create Accounting and Transfer to GL
(N) Other > Requests > Run; Name: “Create Accounting”
48
Review Results
• Review Payables Accounting Entries Report
• Reconcile within A/P

– Run Accounts Payable Trial Balance
– Run Posted Invoices Register
– Run Posted Payments Register
• Reconcile with G/L

– Run Trial Balance - Detail
49
Internal A/P Reconciliation
ACCOUNT PAYABLES TRIAL BALANCE (PREV PERIOD)

+
POSTED INVOICE REGISTER (CURRENT PERIOD)
-
POSTED PAYMENT REGISTER (CURRENT PERIOD)
-
ACCOUNT PAYABLES TRIAL BALANCE (CURRENT PERIOD)
=0
50
Account Payable Trial Balance
51
Review Posted Invoice Register
52
Review Posted Payment Register
53
Account Payable Trial Balance
54
Reconcile A/P with G/L
To Reconcile Year-to-Date (YTD):
ACCOUNT PAYABLES TRIAL BALANCE (CURRENT PERIOD)

=
TRIAL BALANCE – DETAIL (CURRENT PERIOD) (Ending Balance)
To Reconcile Period-to-Date (PTD):
POSTED INVOICE REGISTER (CURRENT PERIOD)

-
POSTED PAYMENT REGISTER (CURRENT PERIOD)
=
TRIAL BALANCE – DETAIL (CURRENT PERIOD) (Period Activity)
Action If Not Equal:

Check the Detail Account with Account Analysis Report
55
Trial Balance – Detail Report
56
Account Analysis Report
57
Mass Additions Transfer
• Mass Additions Create
• Mass Additions Create Report
Close/Open Period
(N) Accounting > Control Payables Periods
59
Inventory Period Close
Check Inv & Check & Fix Create Reconcile

Open the Complete All WIP Accounting Close the Oracle
Pending
Next Txns Transactions Inventory Inventory to
Transactions & Transfer
Inventory Interface Period the GL using
Period to GL
Reports
60
Oracle Inventory – Cost Management
Close Checklist
1.Complete All Transactions for the Period Being Closed
2.Check Inventory and WIP Transactions Interface
a.Cost Manager (Mandatory)
b.Material Transaction Manager (Optional)
c.Move Transaction Manager ( for WIP)
3.Check & Fix Pending Transactions
a.Resolution Required
b.Resolution Recommended
4.Transfer Summary or Detail Transactions
a.Generate COGS Recognition
b.Create Accounting & Transfer to GL
Oracle Inventory – Cost Management
Close Checklist
5.Open Next Inventory Period
6.Close the Current Inventory Period
7.Reconcile with GL
a.Period Close Value Summary Report
b.Material Account Distribution Summary Report
c.Inventory Value Report
d.Material Account Dsitribution Detail Report
e.Inventory Subledger Report (Average Costing Only)
8.Validate the Work in Process Inventory
a.WIP Account Distribution Report ( Detail or Summary)
Assets Period Close
Run
Assign All Calculate Review & Reconcile
Run
Complete All Asset to Gain & Depreciati Create Post Oracle Assets
Txns Distribution Losses Accounting Journal to the GL
Lines on
(Optional) Entries using Reports
63
Fixed Asset Period Close
• Reconcile Asset Clearing Account
• Reconcile Asset Account
• Reconcile Accumulated Depreciation Account
• Reconcile Depreciation Expense
66
Reconcile Asset Clearing Account
Cost Clearing Reconciliation Report
Trial Balance – Detail
67
Reconcile Asset Account
Cost Summary Report
68
Reconcile Accumulated Depreciation
Reserve Summary Report
69
Reconcile Depreciation Expense
70
Accounting Entries
Addition Depreciation
Dr Asset Dr Depreciation Expense
Cr Asset Clearing Cr Accumulated Depreciation
Construction In Progress (CIP) Capitalized

Dr CIP Clearing Dr Asset
Cr CIP Cr CIP
Transfer between Cost Center
Dr Company.CC_100.Accumulated Depreciation
Cr Company.CC_100.Asset
Dr Company.CC_200.Depr Expense
Dr Company.CC_200.Asset
Cr Company.CC_200.Accumulated Depreciation
71
Accounting Entries (cont)
Retirement
<Journal created in Oracle Asset>
Dr Accumulated Depreciation
Dr Proceed of Sales Clearing
Dr/Cr Cost of Removal Gain/Loss
Dr Revaluation Reserve
Dr/Cr Net Book Value Retired Gain/Loss
Cr Asset
Cr/Dr Proceed of Sales Gain/Loss
Cr Cost of Removal Clearing
Cr/Dr Revaluation Reserve Retired Gain/Loss
<If any cost of removal by creating AP Invoice>
Dr Cost of Removal Clearing
Cr Account Payable
<If asset is sold in credit by creating AR Invoice>
Dr Account Receivables
Cr Proceed of Sales Clearing
72
General Ledger Period Close
73
Creating Journal Batches
(N) Journals > Enter > (B) New Batch
Creating Journal Line
(N) Journals > Enter > (B) New Journal
Posted Journal Batch
Open & Closed Period
Thank You

R12 Financial Period End Closing & Reconciliation

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R12 Financial Period End Closing & Reconciliation

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R12 Financial Period End Closing

Complete All Internal Bank Transfer to Review Close / Open

• Reconcile Outstanding Customer Balance

TRANSACTION REGISTER (CURRENT PERIOD)

SALES JOURNAL By GL ACCOUNT(CURRENT PERIOD)

Postable Currency Class

Postable Currency Class

Customer ------- Foreign Currency ------ ----- Functional Currency -----

Accounting Flexfield: 01.000.113101.00.00

110006 Invoice PT XYZ 1003 05-AUG-05 1,110,000.00

Customer ------- Foreign Currency ------ ----- Functional Currency -----

Accounting Flexfield: 01.000.113101.00.00

110006 Invoice PT XYZ 1003 05-AUG-05 1,110,000.00

AGING REPORT (LD PREV PERIOD)

RECEIPT JOURNAL REPORT

GL TRANSFER PROCESS EXECUTION REPORT

SALES AND RECEIPT JOURNAL REPORT

After transactions and receipts transferred to the GL Interface Table

JOURNAL ENTRIES REPORT

SALES AND RECEIPT JOURNAL REPORT (in ‘Transaction’ mode)

• Review Payables Accounting Entries Report

• Review Unaccounted Transactions Report

• Run and Confirm Payment Batch (optional) or

• Enter Single Payments

• Reconcile within A/P

• Reconcile with G/L

ACCOUNT PAYABLES TRIAL BALANCE (PREV PERIOD)

ACCOUNT PAYABLES TRIAL BALANCE (CURRENT PERIOD)

To Reconcile Period-to-Date (PTD):

POSTED INVOICE REGISTER (CURRENT PERIOD)

Action If Not Equal:

Check Inv & Check & Fix Create Reconcile

Trial Balance – Detail

Cost Summary Report

Trial Balance – Detail

Trial Balance – Detail

Construction In Progress (CIP) Capitalized

Transfer between Cost Center

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