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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
Transactions

R12
Transactions Distributions
Product Period Close

Distributions

Balancing Lines SLA Journals

Product Period Close

Balancing Lines GL Journals

GL Journals GL Balances

GL Balances

Close Dependencies

Inv PO AP PA AR CE GL FA

Process Change - Reconciliation

11i
Transactions
Transactional Reports

R12
Transactions Distributions Balancing Lines Balancing Lines SLA Journals

Distributions

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 7. Unaccounted Transactions Sweep* 8. Close Payables Period a. Subledger Period Close Exceptions Report* 7. Accrue Un-invoiced Receipts 8. Reconcile Payables Activity to GL* a. AP Trial Balance Report* (Account definition, Data Mgr Program) b. Third Party Balances Report* c. Account Analysis Report* 7. 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) 9. Post (GL) Receivables Transactions* 10. Print Invoices 11. Print Statements 12. 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 14. Close Receivables Period* a. Subledger Close Exceptions Report b. Change Period Status to Closed c. Open Next Period 14. 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