03 - 05 - EBS R12.1 FMS - General Ledger Period Close & Reporting

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Oracle E-Business Suite R12.1 Financial Management Systems (FMS)

Essentials Partner Boot Camp Training Courseware
General Ledger Multi–Currency & Budgeting
For use by Oracle employees and authorized partners only.

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R12.1: Oracle Financials

Module: Period Close and Reporting
Module Objectives
Period Close
• Close Period Process Steps
– Journal Import from Subledgers
– Reconciliation of Subledgers
– Run Revaluation
– Close Period
• Consolidation
• Online Inquiry
Reporting
• Reporting Options
– Inquiry
– Standard
– FSG
– Other options
• Basics of FSG

Period Close

General Ledger Accounting Cycle
• Open period
• Create / Reverse journal entries
• Post
• Review
• Revalue
• Translate
• Consolidate
• Review / Correct balances
• Run accounting reports
• Close accounting period

Steps: Period Close
• Import journals from subledgers

• Perform reconciliation of subledgers
• Close the period for each subledger
• Perform revaluation of foreign currency balances
• Verify all journals are posted
• Reconcile account balances
• Translate balances
• Perform consolidation
• Run Trial Balance and other reports
• Close the GL period
• Open the next period

Importing Journals from Subledgers
Transfer in summary Automatic or manual

or detail
Subledgers GL_INTERFACE Journal Import
GL_BALANCES Post GL_JE_LINES

GL_JE_HEADERS
GL_JE_BATCHES
Journal Import Verification Process
Correct errors in
Load GL_INTERFACE Table
feeder system
Import Journals by Journal Import creates a

Source and Group ID postable journal batch
No
Do any of the Delete source from
journals have Journal Import
errors?
h
Yes Hig
Number of Low Correct Journal

errors? Import online

Posting Journals
Update balances by posting journals.
Manual Posting
Auto Posting

Reconciliation of Subledgers
• Reconcile the subledger data to General Ledger to ensure transfer

and accounting of all subledger transactions in General Ledger
• Perform reconciliation by:

– Reports
– Account Analysis
• Flows:
– Procure to Pay
– Order to Cash
– Projects
– Non-Oracle subledgers

Close the Subledgers
• Suggested order for closing subledgers:
– Projects
– Payables
– Purchasing
– Assets
– Receivables
– Inventory
Subledgers
Close Period

P2P Close Processes
Create Journal
Entries
Assets General Ledger
Post Mass
Additions/
Depreciation
Transfer
Transactions
GL Interface to GL Inventory
Mass
Additions
Create
Payables Transfer Receipt Accruals

to General Ledger - Period End Purchasing/
Payables
iProcurement

Overview of P2P Period Close
Close
Prepare Run Invoice Run the
for period Validation/ Payables period in
close Review and Accounting AP
resolve holds Process to
Transfer
Close the Run PO Reconcile AP

Period Post journal
PO period activity for entries in GL
Accruals the period

AP to GL Reconciliation
• Balance of the Accounts Payables Trial Balance should equal the AP

Liablility Account balance in General Ledger
Reconciliation for February
January Accounts Payable Trial Balance

+
February Posted Invoice Register
-
February Posted Payment Register
-
February Accounts Payable Trial Balance

Reports: P2P Process
• Unaccounted Transactions Report

• Uninvoiced Receipts Report
• Accrual Reconciliation Report
• Accrual Write-Off Report
• Matched and Modified Receipts Report
• Payables Account Analysis Report
• Payables Accounting Entries Report
• Posted Invoice Register
• Posted Payment Register
• Receipt Accruals – Period End
• Receiving Account Distribution Report
• Unaccounted Transactions Report
• Uninvoiced Receipts Report

O2C Period Close Process
Order Management General Ledger
Send all
Orders/Credit
Memos
Transfer
Transactions
GL Interface to GL Inventory
AutoInvoice
Receipt
Transfer to Reconciliation Cash
General Ledger Management
Receivables

Overview of O2C Period Close Process
Review, balance, Complete the Post

Review the
and reconcile transfers from journal
transfer
Receivables, Receivables entries in
results, and
Cash and Inventory GL
correct
Management, to the transfer issues
and Inventory General Ledger
transactions
Close Receivables
and Inventory
Periods

Reconciling Receivables Transactions, Receipts,
and Customer Balances
Reports available for reconciliation purpose:
• AR Reconciliation Report
• Sales Journal by Customer
• Transaction Register
• Receipts Register
• Sales Journal by GL Account
• Journal Entries Report
• Receipts Journal Report
• Receipts Register
• Aging Report
• Transaction Detail Report
• Unapplied Receipts Register
• Applied Receipts Register
• Invoice Exceptions Report

GL Reconciliation Report for Cash Management
The GL Reconciliation Report:
• Reconciles the General Ledger cash account to the bank statement balance
• Lists the General Ledger cash account balance and adjusted balance
• Lists separately the adjustment amount for unreconciled receipts, payments,

journal entries, and bank errors

Project Period Close Overview
Create Journal
Entries
Assets General Ledger
Post Mass
Additions/
Depreciation
Transfer
Mass Labor and
GL Interface Usage Costs Projects
Additions
Create
Transfer Project
Assets
Transfer Payables
&
Transfer Open
Invoices and Purchase Orders
Payables Expense Reports Purchasing

Project Period Close
Final Step to close PA period:

• Run PRC: Interface Revenue with General Ledger
• Open the new period.
Period Close Exception Reports:

• EXC: Summarization Period Exceptions
• EXC: Transaction Exception Details
• EXC: Transaction Exception Summary

Perform Revaluation
• Revaluation is run at the end of each accounting period as part of

the close process to revalue balance sheet accounts that are
denominated in a foreign currency
• The journal is then reversed at the beginning of the next period.
• The Realized Gain/Loss will be recorded by the appropriate

subledger and transferred to the General Ledger at the time the
obligation is settled.

Period Status
• Each accounting period has one of the following five statuses:
Never Future Open

Opened Enterable Period
Permanently Closed
Closed Period Period

Balance Sheet Close
• Closes your balance sheet accounts to a specified balance sheet

closing account
• You can automatically reverse this journal at the beginning of the next
period
• The balance sheet journal entries are created to zero out the ending
year-to-date balances for balance sheet accounts, with the offset
posted to the closing account you specify.

Income Statement Close
• The Income Statement Closing Journals program generates journals to

close out the year-to-date (YTD) balances of a range of revenue and
expense accounts.
• This program can be submitted for any open period.
• The Income Statement Closing Journals process can accept two

account templates as parameters for the closing journal. These are:
–Retained Earnings account template (Required)
–Income Statement Offset account template (Optional)

Overview of Consolidation
• The consolidation process combines the financial results of different

companies, typically combining subsidiary accounting information into a
parent company for reporting purposes.
• Methods to perform consolidation:
–Financial Statement Generator (FSG)
–Global Consolidation System (GCS)

Account Inquiry
• Use the account inquiry feature to view actual, budget, and encumbrance
account balances for a specific period or periods in either entered or balance
level reporting currencies.

Reporting

Reporting Options
Reporting Web
Function OI Std FSG ADI EPB BIS Disc
RXi
Review Balances 

Summary/detail --- -
Journals ----
Subledger --- ----
Preseeded - ----
Create Financials - - ---
Create Report Sets - ----
Auto Schedule - ---
Publish to web - - - -- -
Query live data ---
Snapshot - - -- -
Online Inquiry
• Use Oracle's inquiry functionality to drill from summary account balances to

detail balances, and to complete journal entries.
• Drilldown to complete views of any underlying Oracle subledger

transactions for further accounting entry analysis.

Standard Reports & Listings
• Oracle General Ledger gives you a complete set of standard reports.
• Categories of standard reports and listings include:
Account Analysis Budget

Multi-Currency Accounting &
Chart of Accounts
Consolidation
Currency Financial Statement Generator
General Ledger Journals
Trial Balance Execution

Other

Submit Request Flow
Choose to submit a request

or a set of requests
Enter request information
May be required Enter parameter values
Optional Define submission schedule
Optional Define completion options
Select Submit Request
Record request ID

Financial Statement Generator (FSG)
• Oracle General Ledger’s Financial Statement Generator (FSG) is a

powerful and flexible tool you can use to build your own custom reports
without programming
• Generate financial reports, such as income statements and balance
sheets, or compare based upon data in your general ledger
• Apply security rules to control what financial information can be printed by
specific users and responsibilities in any reports they run using FSG
• Report is a combination of atleast a row set and a column set
Rows
Report Columns

Financial Statement Generator (FSG)
• Use a four-step process to create customized financial reports.
1. Define row sets.
2. Define column sets.
3. Define financial reports and report sets.
4. Request financial reports and report sets.

Creating Row Sets
• Row Set defines all of the rows in the report. For each row, you control
the format and content, including line descriptions, indentations,
spacing, page breaks, calculations, units of measure, and precision.
• Define the format and content of rows in financial reports.
Income Statement
Company 1
PTD YTD
Sales 3,000 6,200
Row set A
Returns 1,000 1,000
Net Sales 2,000 5,200
Balance Sheet
Company 1
THIS YR LAST YR
Row set B Cash 100 200
Investments 600 400
Receivables 980 700
Creating Column Sets
• Column set defines all of the columns in a report. You control the
format and content of each column.
• Define the format and content of columns in financial reports.
Income Statement
Company 1
Column set A PTD YTD
Sales 3,000 6,200
Returns 1,000 1,000
Net Sales 2,000 5,200
Balance Sheet
Company 1
Column set B THIS YR LAST YR
Cash 100 200
Investments 600 400
Receivables 980 700
Defining Ad-Hoc Reports
• Mix and match row sets and column sets to create a variety of reports.
Income Statement
Company 1
PTD YTD Column set A
Sales 3,000 6,200
Row set A
Returns 1,000 1,000
Net Sales 2,000 5,200
Balance Sheet
Company 1
THIS YR LAST YR Column set B
Row set B Cash 100 200
Investments 600 400
Receivables 980 700

Defining Content Sets
• Define content sets to override segment values and produce multiple

versions of a single report.
Expense Statement
Sales Department
Salaries Expense Statement
Supplies Marketing Department
Other Expense Statement
Salaries Finance Department
Supplies Expense Statement
Other Salaries
Supplies Research Department
Other THIS YR LAST YR
Salaries 100 200
Supplies 600 400
Other 980 700

Defining Row Orders
• Modify the order of detail rows in a report.
Row Definition from Row Set

Low High Display
Company 01 01 T
Cost Center 100 400 E
Account 4000 4000 T
Produces Unordered Rows

Sales Sep-99 Oct-99 Nov-99 Dec-99
Fremont (200) 45,505 41,303 44,518 48,697

Newport (300) 48,821 47,448 48,415 46,950
Belmont (400) 43,340 46,296 42,547 42,998
United (100) 46,684 43,855 46,103 44,746

Ranking Methods
• Provides several ways to order and display expanded detail rows.
• Choose a ranking method and choose to display segment values,

segment value descriptions, or both. A partial list includes the following:
–Order by ranking, display description

–Order by ranking, display both value and description
–Order by description, display description
–Order by description, display value
–Order by value, display description
–Order by value, display value

Run FSG Reports
• Use the Run Financial Reports window to run your financial report.
–Select financial report.

–Enter accounting period.
–Select currency if needed.
–Specify runtime options.

E-Business Suite Intelligence
•Analyze a broad range of enterprise data provided by the Oracle E-Business

Suite using an extensive set of analytical reports

Oracle Discoverer
•Oracle Discoverer provides access to Information contained in data marts,

data warehouses, and online transaction processing systems

Module Highlights
Period Close
• Close Period Process Steps

• Consolidation
• Online Inquiry
Reporting
• Reporting Options
• Basics of FSG


03 - 05 - EBS R12.1 FMS - General Ledger Period Close &amp; Reporting

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<Insert Picture Here>

Oracle E-Business Suite R12.1 Financial Management Systems (FMS)

General Ledger Multi–Currency & Budgeting

For use by Oracle employees and authorized partners only.

The following is intended to outline our general

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

• Import journals from subledgers

For use by Oracle employees and authorized partners only.

Transfer in summary Automatic or manual

Subledgers GL_INTERFACE Journal Import

GL_BALANCES Post GL_JE_LINES

Import Journals by Journal Import creates a

Number of Low Correct Journal

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

• Reconcile the subledger data to General Ledger to ensure transfer

• Perform reconciliation by:

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

Payables Transfer Receipt Accruals

For use by Oracle employees and authorized partners only.

Close the Run PO Reconcile AP

For use by Oracle employees and authorized partners only.

• Balance of the Accounts Payables Trial Balance should equal the AP

Reconciliation for February

January Accounts Payable Trial Balance

For use by Oracle employees and authorized partners only.

• Unaccounted Transactions Report

For use by Oracle employees and authorized partners only.

Order Management General Ledger

For use by Oracle employees and authorized partners only.

Review, balance, Complete the Post

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

The GL Reconciliation Report:

• Lists separately the adjustment amount for unreconciled receipts, payments,

For use by Oracle employees and authorized partners only.

For use by Oracle employees and authorized partners only.

Final Step to close PA period:

Period Close Exception Reports:

For use by Oracle employees and authorized partners only.

• Revaluation is run at the end of each accounting period as part of

• The journal is then reversed at the beginning of the next period.

• The Realized Gain/Loss will be recorded by the appropriate

For use by Oracle employees and authorized partners only.

• Each accounting period has one of the following five statuses:

Never Future Open

For use by Oracle employees and authorized partners only.

• Closes your balance sheet accounts to a specified balance sheet

For use by Oracle employees and authorized partners only.

• The Income Statement Closing Journals program generates journals to

• This program can be submitted for any open period.

• The Income Statement Closing Journals process can accept two

–Retained Earnings account template (Required)

–Income Statement Offset account template (Optional)

For use by Oracle employees and authorized partners only.

• The consolidation process combines the financial results of different

03 - 05 - EBS R12.1 FMS - General Ledger Period Close & Reporting

03 - 05 - EBS R12.1 FMS - General Ledger Period Close & Reporting