oracle reconciliation oaug
TRANSCRIPT
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It’s month end, now comes the
reconciliation crunch!
Richard Byrom
Oracle Applications Consultant
http://www.richardbyrom.com
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Agenda
• Presentation assumptions and objectives
• Why and how should we reconcile
• Setup issues
• Close procedures for each module,
reconciliation results & two way drill down
• Additional Tips
• Conclusion• Questions and Answers
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Objectives
• This presentation emphasizes the importance
of on a regular basis so as to ensure
improved control over financial information
• To discuss different setup issues and that
may impact your ability to reconcile.
• To outline the month end close process for
each module and give practical examples of
expected reconciliation results.
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Objectives
Manufacturingsubledgers
Financial
subledgersOracleGeneral Ledger
Payroll &Human
Resources
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Objectives
GENERAL LEDGER
Transactions- Journals -
- Interfaces -
Master Data
- Chart of Accounts! -
- Sources & Categories -
- Document Sequencing-
FIXED ASSETSTransactions
- Additions / Disposals -
- Depreciation -
Master Data
- Asset Categories -
ACCOUNTS PAYABLE
Transactions
- Invoices / Memos -
- Payments -
Master Data
- Suppliers -
ACCOUNTS
RECEIVABLETransactions
- Invoices / Memos -
- Receipts -
Master Data
- Customers -
CASH MANAGEMENT
Transactions
- Reconciled Payments -
- Reconciled Receipts -
- Miscellaneous Transactions -
Master Data
- Bank Accounts -
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What should be reconciled?
• Control Accounts
• Inter Modular Movement
• Intercompany Accounts
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What happens if we don’t reconcile properly?
• Potential data corruption notdetected
• Sub modules may not be posted
to the GL
• Multiple months may remain open
for a variety of modules
• Repetitive errors may not be
detected
• Posting of non standard journals
to control accounts• Open item system carries forward
problems to next year.
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Why the problem with reconciliations
• Inadequate training/inexperienced users
• Lack of understanding of the system
architecture• Trying to use old procedures for a new
system
• Bad Management
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How should we reconcile?
• Establish your out of system procedures• Ensure that all the standard functionality provided
by the system is understood and used
• Make use of additional tools is necessary
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Setup Issues – General Ledger
• Sequential numbering of documentationshould be taken into consideration.
• Chart of accounts should beappropriately designed and have anappropriate groupings and sub groupingby using parent and child relationships.
• Document types and sub types need tobe looked at
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Month end close steps
1. Pre-posting activities
2. Posting to supporting systems
3. Run verification Reports
4. Reconcile against interfacing systems
5. Close periods
6. Problem Solution
7. Two way drill
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Receivables Steps – Pre-posting
• Pre-posting activities
– Enter Receipts
– Enter Invoices
– Record NSF checks – Run Autoinvoice Interface
– Print New Invoices
– Run Incomplete Invoice Reports
– Adjustment Approval Report
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Receivables Steps – GL Posting
• Posting to GL
(AR) Interfaces > General Ledger
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Receivables Steps – Reconciliation
Results
Jul-02
Beginning AR Trial Balance 94,890,824.48
+ Transaction Register 26,197,804.53
- Receipt Register -42,318,784.05
+/- Adjustment Reqister 0.00
- Prepayments Remittance Report* 0.00
Ending AR Balance 78,769,844.96
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Receivables Steps – Reconciliation
Results
Description Amount Comments
Current Period End AR Aging Total 39,330,142.00 Extracted from AR Aging Report for Jul-02
Prior Period End AR Aging Total 55,454,778.25 Extracted from AR Aging Report for Jun-02
Change in AR Balance -16,124,636.25 x
+ Invoices/Debit Memos 26,409,424.57 Extracted from AR Sales Journal Reports
- Credit Memos -211,620.04 Extracted from AR Sales Journal Reports
- Cash Receipts -42,318,784.05 Extracted from AR Receipt Journal Reports - Write Offs 0.00
Change in AR Balance -16,120,979.52 y
Debits Posted 26,763,035.64 Extracted from Trial Balance
Credits Posted -42,887,671.89 Extracted from Trial Balance
Change in AR Balance -16,124,636.25 x
x = y = z -3,656.73
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Receivables two way drill – Invoice Status
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Receivables two way drill – Invoice Accounting
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Receivables two way drill – Cash Receipts
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Receivables two way drill
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Receivables two way drill – Receipt History
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Receivables two way drill-Miscellaneous Receipts
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Receivables two way drill-Miscellaneous Receipts
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Receivables two way drill- GL to Invoice
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Receivables two way drill – Drilldown effect
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Payables Steps
• Pre-posting activities
– Enter Employee Expense Reports
– Enter Invoices
– Run Invoices on Hold Report
– Run Payables Approval
– Check for Unapproved Invoices
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Payables Steps – Reports & Period Close
• Verification Reports – Accounts Payable Trial Balance
– Posted Invoice Register
– Posted Payment Register
– Expense Distribution Report – Invoice Aging Report
– Posting Hold Report
– Invoice Register
• Close Periods
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Payables Steps – Reconciliation Results
• Reconciliation can also be achieved using Tutor
Business Form FOR0672
Description Amount
(Previous Month) Accounts Payable Trial Balance -27,428,898.13
+ (Current Month) Posted Invoice Register 7,778,812.99
- (Current Month) Posted Payment Register -5,779,945.70
(Current Month) Accounts Payable Trial Balance -25,430,030.84
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Reconciliation Problems
• If AP does not reconcile to GL – Check that the reports have been run for the
correct date/period.
– Run GL Post in Accounts Payable.
– Post all payables generated batches in theGeneral Ledger
– Re-Run both Trial Balance reports
– Check for Journal Entries in the AP controlaccount, not generated by Accounts Payable.
– Check for Payments/Invoice Distributions madeagainst the AP control account.
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Payables two way drill – query an invoice
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Payables two way drill – view accounting
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Fixed Assets Steps
• Pre-posting activities – Prepare Mass Additions
– Post Mass Additions
– Delete Mass Additions
– Prepare Manual Additions
– Retire Assets
– Adjust Assets
– Capitalize CIP Assets
– Run Depreciation
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Fixed Assets Steps – GL Posting
• Run Journal Entries
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Fixed Assets Results
• Alternative reconciliation using FOR0674
Tutor Business Form• Printing of Reconciliation Report
Description Cost NBVPrevious Month’s Ending Balance 120,951,159.11 96,421,655.44
+ Asset Additions 658,900.00 658,900.00
+ (-) Adjustments 0.00
- Depreciation Charge -450,506.21
- Retirements 0.00
+ Capitalizations 0.00
+ (-) Reclassifications 0.00+ (-) Transfers 0.00
Current Month’s Ending Balance 121,610,059.11 96,630,049.23
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Cash Management Steps
• Pre-posting activities
– Capture/Interface Bank Statements
– Automatically reconcile statements
– Manually reconcile amounts not cleared
– Check all statements are fully reconciled
• Bank Statement Detail Report
• Online checks
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Cash Management Steps
• Post to GL – Ensure payables and receivables posting
has taken place
• Verification Reports
– Cash In Transit Report
– Cleared Transactions Report
– General Ledger Reconciliation
– Transactions available for Reconciliation
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Cash Management Results
• Check Receipts against Receivables
Reports, Cash Account per GL and
Cash Management Reports
• Check Payments against Payables
Reports, Cash Account in GL and Cash
Management Reports
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Cash Management two way drill – Account Inquiry
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Cash Management two way drill – Drilldown effect
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General Ledger Steps
• Pre-posting activities – Reconcile interfaces from feeder systems
– Enter Manual Journal Entries
– Reverse Entries
– Run Journal Import
– Generate Recurring Journal Entries
– Generate Mass allocations
• Post Journal Entries
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General Ledger Results
• Verification Reports
– Journal Entry Report
– Account analysis Report
– Account Analysis – Sub Ledger Detail Report – Trial Balance – Detail Report
– Run Financial Statement Generator – FSG’s
• Close Periods
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Additional Tips – File Export
• To export the results of an online inquiry oronscreen view choose File > Export from themenu
• Save the file generated to your desiredlocation
• Open the file from Microsoft Excel. Ensurethat from the open dialogue box in Excel youspecify files of type all *.*
• When the text import utility appears choosefinish, you can now sort the file according toyour personal requirements
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Additional tips Cont.d – Tools>Copy File
• Use Tools > Copy file from the menu when
you are in a report
• Save the file in web or text format to your
desired location – preferably use text• Import the file into Excel using the text import
wizard as displayed – use the report column
headers as your fixed width delimiters.
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Additional tips cont.d - Tutor
• Use Oracle Tutor Business forms to
give you reconciliation templates.
Concl sion
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Conclusion
• Reconciliations are important in
order to identify problem areasand rectify them on a timelybasis.
• Procedures should be put inplace to facilitate reconciliation
as well as ensure that theorganisation is making use ofall possible tools.
• Setups have a significantimpact on the ease of
reconciliation.
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S k I f ti
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Speaker Information
Name : Richard Byrom
e-mail : [email protected]
Company : RPC Data Ltd
Web Site : http://www.rpcdata.com
http://www.richardbyrom.com