CHAPTER 1. JOURNAL ENTRIES
JOURNAL ENTRY
PURPOSE: To make additional
journal entries to the General Ledger other than through the subledgers.
INTRODUCTION: Entering manual
journal entries for reclassification, payroll, and miscellaneous, etc.
transactions.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Find Journals form.
2.
Double click on
Enter or click on Open button.
3.
Find Journal
Screen should open.
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1.
To enter new
journals, click on New Journal button
2.
New Journals
form should open.
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1.
In the Journals
window, enter a unique Journal name for the entry. If you do not enter a
journal name, General Ledger automatically assigns a name using the following
format: Source Journal ID Date.
2.
(Optional)
Enter a Description for the journal entry. General Ledger uses this as the
default description for each journal entry line. You can change the journal
entry description as necessary.
3.
Select a
ledger for your journal
4.
Enter a
Category to describe the purpose of your journal entry, such as accrual,
payments, or receipts. All lines in a journal entry share the same journal
category
5.
Enter the
Period for the journal entry. If you entered a period at the batch level, you
must use the same period for each journal entry in the batch. If you did not
enter a period at the batch level, choose any Open or Future Enterable period
for your journal entry. Note that you can only post journals in Open periods.
6.
Accept or
change the default Effective Date for the journal entry
7.
Balance Type is
a display - only field. It displays Actual when you are entering actual
journals and Budget when you are entering budget journals.
8.
If you are
entering a intracompany journal that includes multiple balancing segment
values where the total debits and credits for each balancing segment value do
not net to zero, you can specify the clearing company to balance the journal
9.
Enter a Control
Total if you want to verify the total debits for the journal lines against
the journal control total(Optional).
10. Enter a reversal
Period and Method. You can then generate a reversing journal entry for that
period. You can also reverse a journal entry without assigning a reversal
period. Reversal Method can be either:
Switch Dr/Cr: General Ledger
creates your reversing journal by switching the debit and credit amounts of
the original journal entry. This method is often used when reversing
accruals.
Change Sign: General Ledger
creates your reversing journal by changing the sign of your original journal
amounts from positive to negative. This reversal method is often used when
reversing journals to correct data entry mistakes
11. Accept the default Currency or change the journal
currency to an entered currency or statistical journal
12. Select the Lines tab and enter the journal lines.
If you are using Reporting Currencies (Journal or
Subledger Level) and you enter the Reference Date in the journal in your
source ledger, it is also transferred to the journals of the reporting
currencies.
If the profile option Enter Journals: Validate
Reference Date is set to Yes, the date you enter is validated to ensure the
date falls into an open or future enterable period.
If the profile option GL Consolidation:Preserve
Journal Batching is set to Yes for the parent ledger,the consolidation
process transfers the reference date information from the subsidiary ledger
to the parent ledger.
13. Save your work
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ENTERING THE JOURNAL LINES:
1.
Enter a Line
number for each journal line to control the sequence in which the journal
entry lines appear online and in reports. After you enter the first journal
entry line number, General Ledger automatically increments the numbers for
the following lines. You can change the line numbers as necessary.
2.
Enter an
Account for the journal line
3.
Enter the Debit
or Credit amount for the designated account. Note: If needed, you can
enter debits and credits as negative amounts.
4.
Description
will default in from the header information. You can change if required.
5.
Use down arrow
to start new line. The line number should be created automatically for
you. You can change it if required. Repeat above steps until
completed with the journal entry.
6.
Save your work.
7.
Post the
journal.
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Modifying a Journal Entry
PURPOSE: To provide
instructions for modifying a journal entry.
INTRODUCTION: If the
journal entry has not posted, account numbers can be changed, amounts changed,
and lines added or deleted.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Find Journals Screen.
2.
Double click on
Enter or click on Open button.
3.
Find Journal
Screen should open.
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1.
Find the
journal entry which you want to modify by entering the search criteria into
the appropriate area.
2.
Click on the Find
button.
3.
Enter Journals
Screen will appear with all journals meeting criteria listed.
All journals which have not been posted can be
modified.
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1.
Select the Journal
you want to modify by using arrow keys or clicking on the journal entry line.
2.
Double click on
the line or click on the Review Journal button on the bottom of the form.
3.
The Journals
Screen (journal entry detail screen) will be displayed.
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1.
Make your
changes to the journal entry.
2.
Save the
changes.
·
Navigate: File
-> Save or
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·
Save button on the tool bar.
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Delete Journal Entry
PURPOSE: To provide
instructions for deleting a journal entry.
INTRODUCTION:
If the journal entry has not posted, the journal entry can be deleted if
entered in error. The Delete Records feature will delete the journal or
batch. This is a quick and effective way of permanently removing
journals. Be sure to save the changes when prompted.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Find Journals Screen.
2.
Double click on
Enter or click on Open button.
3.
Find Journal
Screen should open.
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1.
Find the
journal entry which you want to delete by entering the search criteria into
the appropriate area.
2.
Click on the Find
button.
3.
Enter Journals
Screen will appear with all journals meeting criteria listed.
All journals which have not been posted can be
deleted.
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Select Delete from the Edit menu.
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1.
You will be
asked whether you want to delete only the journal or the whole batch.
2.
Click on the
appropriate response.
3.
When this is
completed, select Save from the Action menu or the Save button
on the Toolbar.
4.
The dialogue
line on the Toolbar will then display confirming message that the transaction
has been saved.
5.
This completes
the process.
If
you requery on the Find Journal screen, the deleted journal entry will not
appear for selection or be available for selection on the post screen.
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Post Journal
Entry
PURPOSE: To provide
instructions for posting a journal entry.
INTRODUCTION:
Once journal batches and/or entries have been reviewed and approved, the
entry(s) can be selected for posting from the Post Journals form.
Review the Post Status and Period Status of the entry to determine that it is
available for posting. In addition, you can post a journal by choosing
the Post Button form the More Actions window when reviewing a
journal online.
Journals
can only be posted to open periods. When you post to an earlier open period,
actual balances roll forward through the latest open period. If you post
a journal entry into a prior year, General Ledger adjusts your retained
earnings balance for the effect on your income and expense accounts. Suggestion:
Run a Trial Balance Report whenever you post to a previous fiscal year to ensure
that your Retained Earnings account is properly reconciled. The Posting
process creates a Posting Execution Report, which should be reviewed to
determine whether any errors occurred.
You can automate your posting
process by scheduling the Automatic Posting program to periodically select and
post batches.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Find Journals Screen.
2.
Double click on
Enter or click on Open button.
3.
Find Journal
Batches Screen should open.
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1.
Find the
journal entry which you want to post by entering the search criteria into the
appropriate area.
2.
Click on the Find
button.
3.
Post Journals
Screen will appear with all journals meeting criteria listed.
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1.
A list of
journals/batches will display.
2.
Select the
journal(s)/batch(es) to be posted.
3.
Click on the check
box on the left hand side to mark the journal(s)/batch(es). The
designated row will become highlighted.
4.
Click on the Post
button.
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1.
Click on the OK
button when the concurrent ID number displays. Make note of process
number for future use.
2.
The system then
returns to Find Journal Batches form.
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Review Posting Execution Report
The
Posting process creates a Posting Validation Report which should be reviewed
to determine whether any errors occurred. If any journal/batch could not be
posted, the report tells you if posting discovered errors in the journal
header or the journal lines. All errors must be fixed before the
journal/batch containing the error journal can be resubmitted for posting.
Further
details on the posting status can be obtained by reviewing the journal/batch
in either the Post Journals or Enter Journals forms. If a journal/batch could
not be posted, the error status will be displayed.
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Print and File Posted Journal Lines Report
Once
a batch has been posted, print the Journal Lines Report for the posted batch
and attach it to unposted Journal Lines Report printed earlier (see detailed
journal entry processes). The journal batch should then be filed by
year/month and alphabetically by batch name, to facilitate future inquiry and
audit.
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DEFINING REVERSING JOURNALS
PURPOSE: To provide
instructions for defining reversing journals.
INTRODUCTION:. Use reversing
journal entries to reverse accruals, estimates, errors or temporary adjustments
and reclassifications at the time the original journal is entered.
Existing journals can also be reversed to correct errors.
Assign
a reversal period to a journal entry if you want to generate a reversing entry
from the Enter Journals window. You can enter a reversal period at any time,
even after the journal is posted. However, you cannot reverse batches and
journals that you have already reversed. You can also reverse a journal or
batch from the Enter Journals window, even if you have not assigned a reversal
period and effective date.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Find Journals Screen.
2.
Double click on
Enter or click on Open button.
3.
Find Journals
Screen should open.
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1.
Find the
journal entry which you want to reverse by entering the search criteria into
the appropriate area.
2.
Click on the Find
button.
3.
Enter Journals
Screen will appear with all journals meeting criteria listed.
Just click on Find for all journals.
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Select the Journal you want to reverse by
clicking on it or using the arrow keys.
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1.
The journal
entry detail screen will be displayed.
2.
In the Reverse
region, select a period from the Period list of values for the reversing
entry.
3.
In the Reverse
region, select a reversal method from the Method drop-down list.
Switch Dr/Cr:
General Ledger creates your reversing journal by switching the debit and
credit amounts of the original journal entry. This method is often used when
reversing accruals.
Change Sign:
General Ledger creates your reversing journal by changing the sign of your
original journal amounts from positive to negative. This reversal method is
often used when reversing journals to correct data entry mistakes.
Once you enter the effective date, reversing period,
and reversal method, the journal entry is marked for reversal .
Click on the Reverse Button.
A confirmation message box appears and click on the
Yes button.
A concurrent request gets submitted and note down
the concurrent request id.
After the concurrent program completes , the journal entry will have
a status of Reversed.
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Query in the journal entry screen to find the Unposted reversal
journal entry.
Review the reversal journal entry and post it.
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DEFINING
ALLOCATION JOURNALS
PURPOSE: To provide
instructions for defining allocation journals.
INTRODUCTION: Use allocation journals, or mass
allocations, to define a single formula to allocate revenues and expenses
across a group of cost centers, departments, divisions, and so on. Mass
allocation journals use the following formula in the allocation:
Allocation Amount = Cost Pool
x (Usage Factor / Total Usage)
The different types of allocation
available are:
·
net allocations,
where you want to run allocations several times in the same period;
·
step-down
allocations, where you want to allocate a pool of costs that is based on
allocated costs;
·
rate-based
allocations, where you want to use current, historical or estimated rates to
allocate costs;
·
usage-based
allocations, where you want to allocate expenses based on statistical usage
such as headcount, units sold, square footage, etc.; or
·
standard costing,
where you want to allocate costs based on standard costs of a statistical unit.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Find Journals Screen.
2.
Double click on
Enter or click on Open button.
3.
Find Journals
Screen should open
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1.
Enter a
unique name for the allocation:
2.
Select balance
type: Actual.
3.
Enter
description of allocation:
4.
Click on Formulas
button
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An example allocation:
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1.
Enter the Name,
Category, and Description of the MassAllocation formula. Categories help you
group journal entries in a convenient manner for reporting and analysis.
2.
Enter the
Currency for the MassAllocation journal entry. You can choose a ledger
currency, or an entered or STAT currency.
3.
Choose your
Foreign Currency Allocation method to determine how you want entered currency
balances converted.
4.
Enter the
formula lines. All MassAllocation formulas use the following equation to
determine allocation amounts:
COST POOL * (USAGE FACTOR / TOTAL USAGE)
General Ledger uses the following format to
represent the equation. Each factor in this equation relates to a separate
formula line. A * B / C You can enter any
combination of fixed amounts and accounts in formula lines A, B, or C.
Enter the account for the A, B, or C line of your
formula. Enter accounts with parent segment values to create a formula that
references accounts with the corresponding child segment values. Optionally,
enter a ledger, ledger set, or balance-level reporting currency in the Ledger
segment or a balancing segment value in the balancing segment for the
accounts for lines A, B, or C. By leaving these segments blank, you can use
the MassAllocation formula for different ledger sets, ledgers, or balancing
segment values by indicating them at generation time. When you enter an
account, General Ledger ensures that segment values are valid and enabled.
For the ledger segment value, you can define formulas with ledgers or ledgers
sets that have the same chart of accounts as your current responsibility's
data access set.
5.
Assign a
segment Type for each account segment. The combination of parent/child
segment values and types tells General Ledger which related accounts are
affected or used by that portion of the formula. You can assign one the
following segment types to each segment:
Looping (L): Assign this type to a ledger set
segment value. The allocation program runs each formula once for each ledger
in the ledger set. You can only loop on ledger set segment values. Assign
this type to a parent segment value to include each child value assigned to
the parent value in the formula. The allocation program runs each formula
once for each corresponding child segment value. You can loop only on parent
values
Summing (S): Assign this type to a ledger set
segment value to sum the account balances of all the ledgers in the ledger
set. You can only sum on ledger set segment values
Assign this type to a parent segment value to sum
the account balances of all the child segment values assigned to a parent.
For example, if you enter a parent that has five child values, the allocation
program adds the account balances of the five child accounts and uses the sum
in each MassAllocation formula. You can sum only on parent values
Constant (C): Assign this type to a single ledger
segment value. You can only use this segment type for a single ledger for the
ledger segmentAssign this type to a child segment value to use the detail account
balance associated with the child.
You can use this type with a parent segment value
only if there is a summary account associated with the parent.
Note: To use summary accounts in a mass allocation
formula, all segments in the formula must be assigned a segment type of
Constant.
6.
Enter a Ledger
Currency to determine which ledger should be used to retrieve balances. If
you specified a single ledger or balance-level reporting currency in the
account's ledger segment, the ledger currency automatically defaults to the
ledger currency or the balance-level reporting currency and cannot be
changed. If you specified a ledger set, the ledger currency can be the
currency of a ledger or an associated balance-level reporting currency based
on the ledger set. If you left the ledger segment blank, you may specify any
currency. The following table summarizes this:
The
ledger currency for formula lines that use the Encumbrance balance type
should be the ledger currency of the specified ledger set or ledger.
7.
Enter a
Currency Type of Entered, Statistical, or Total. If the balance type of the
formula line is Encumbrance, you can only select the Total currency type
since only total balances is supported for encumbrance balances.
8.
Choose an
Entered Currency. If the specified currency type is Statistical, the entered
currency default is the statistical currency and cannot be changed. If the
specified currency type is Total, the entered currency field is disabled. If
the specified currency type is Entered, the entered currency can be any
currency. The Ledger Currency, combined with Currency Type and Entered
Currency fields, determines what type of currency account balance is
retrieved for your formula. The following table shows the currency account
balance types for each combination of the ledger currency, currency type, and
entered currency.
9.
Enter the
Amount Type you want to use:
10.
Enter the
Relative Period for the account balance you want to use:
11.
Enter the
account Balance Type to use for the formula line. If you enter the Budget
balance type, you must also enter a Budget name. If you enter the Encumbrance
balance type, you must also enter an Encumbrance Type.
12.
Once you have
entered your A, B, and C formula lines, enter the Target and Offset accounts
13.
Save your work.
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GENERATING
ALLOCATION JOURNALS
PURPOSE: To provide
instructions to generate allocation journals.
INTRODUCTION: Generate
MassAllocations to create unposted journal batches based on your validated
MassAllocation formulas. The generated journal batch contains one entry for
each allocation formula in the batch.
Use MassAllocation journals
to reverse existing balances, post new allocation amounts, or generate journals
that increment the existing balances to match the current allocation amount.
You
can generate MassAllocation journal batches for any range of open or future
enterable periods. General Ledger creates one unposted journal batch for each
period in the range. If there is a closed period in the range of periods you
specify, General Ledger generates a batch that cannot be posted until you open
the period.
Prerequisite
·
Define
MassAllocation formulas.
·
Set the profile
option, GL: Number of formulas, to validate for each MassAllocation batch if
you are using average daily balance ledgers
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Generate MassAllocation Journals form.
2.
Double click on
Allocation or click on Open button.
3.
Generate
MassAllocation Journals form should open.
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1.
Navigate to the
Generate MassAllocation Journals window.
2.
Enter a Ledger
Set or Ledger. If you have a default ledger assigned for your data access
set, it is automatically defaulted. If the MassAllocation formula does not
have any unspecified ledger segment values in the formula, the ledger or
ledger set value you enter is ignored. This entry is only applicable when the
ledger segment value is left unspecified in the MassAllocation formula
3.
Enter a
Balancing Segment Value. If the MassAllocation formula does not have any
unspecified balancing segment values in the formula, the balancing segment
value you enter is ignored. This entry is only applicable when the balancing
segment value is left unspecified in the MassAllocation formula
4.
(Optional) If
you have average balance processing enabled and your ledger is a consolidation
ledger, select a Usage. Select Standard Balances to create MassAllocation
journals that update standard balances only. Select Average Balances to
create MassAllocation journals that update average balances only
5.
Specify the
Allocation Method for the MassAllocation batches you are generating. Choose
Full to reverse previous allocation batches or to post new allocation
amounts. Choose Incremental to generate journals that increment the existing
balances to match the current allocation amount
6.
(Optional) If
you have average balance processing enabled, choose Submission Details from
the poplist to enter values for the MassAllocation journals you want to
generate. Choose the Last Run Details tab to see the values that you used the
last time you generated the MassAllocation journals
7.
Enter the Batch
Name for each validated MassAllocation formula batch you want to generate.
8.
Enter the
Period for which you want to generate MassAllocation journals
9.
Enter a Journal
Effective Date. General Ledger automatically enters the nearest day of the
chosen period. You can enter any date within the specified period for a
standard ledger. If you have average balance processing enabled, you can
enter any valid business day, unless your ledger is a consolidation ledger. In
this case, General Ledger automatically enters the first day of the period
and you cannot change the value
10.
Enter a
Calculation Effective Date. General Ledger automatically enters the nearest
day of the period. You can change this to any day in any open, closed, future
enterable, or permanently closed period. If you do not have average balancing
processing enabled, the calculation effective date is ignored
11.
(Optional)
Schedule your Allocation or MassAllocation batch.
12.
Choose Generate
to submit a concurrent process that creates an unposted journal batch for the
period you specify.
13.
Review the
MassAllocations Execution Report General Ledger names your MassAllocation
journal batches as follows: MA: <Request ID><MassAllocation Batch
Name><Period>. The following is an example of a MassAllocation
journal batch name: MA: 47566 Rent Budget Allocation JAN – 08
14.
Review and
change the generated MassAllocation journal batches using the Enter Journals
window. General Ledger names your MassAllocation journal batches as follows:
MB: <Request ID> <MassAllocation Batch Name> <Period>; for
example, MA: 47566 Rent Budget Allocation JAN-08. The Conversion region in
the header of the Enter Journals window displays the conversion information for
your MassAllocation journal. The table below details how your generated
MassAllocation journals are displayed.
Currency
MassAllocations
15.
Post the
MassAllocation journal batches using the Post Journals window.
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DEFINING
A RECURRING JOURNAL
PURPOSE: To provide
instructions for defining recurring journals.
INTRODUCTION:
Define recurring journal formulas for transactions that you repeat every
accounting period, such as accruals, depreciation charges, and allocations.
Your formulas can be simple or complex. Each formula can use fixed amounts
and/or account balances, including standard, end-of-day, or average balances,
actual or budget amounts, statistics, and period-to-date or year-to-date
balances from the current period, prior period, or same period last year. You
can quickly create new recurring formulas by copying and modifying existing
formulas.
You can define single ledger or multiple ledger
recurring journal formula batches. For the multiple ledger batch type, you can
create a recurring journal formula batch that contains recurring journal
entries for different ledgers.
You
can define recurring journal formulas for your ledger currencies, entered
currencies, and statistical currency.
You can use recurring
journals to create three types of journal entries:
·
Skeleton Journal
Entries: Skeleton entries affect the same accounts each period, but have
different posting amounts. After you generate skeleton journal entries, you can
edit the unposted journal batch using the Enter Journals form and enter the
journal line amounts.
Skeleton journal entries are useful with statistical information
whenever you want to record journals for actual transactions based on
statistical amounts, such as headcount, units sold, inflation rates, or other
growth factors. For example, if you want to enter headcount for each cost center
every period, you can define a skeleton entry with your headcount accounts.
After you generate the skeleton entries, enter the actual headcount amounts
before posting the batch.
·
Standard
Recurring Journal Entries: Standard recurring journal entries use the same
accounts and amounts each period.
·
Recurring Journal
Formula Entries: Formula entries use formulas to calculate journal amounts that
vary from period to period.
Creating
Recurring Journal Formula Batches
To define a recurring journal formula entry, you must
create a recurring journal formula batch. Your batch can contain a single
recurring journal entry definition, or you can group related recurring journals
into the same batch.
You
can create two types of recurring journal formula batches as follows:
•
Single Ledger Recurring Journal Formula Batch: Single ledger batches
affect only one ledger in the batch.
•
Multiple Ledger Recurring Journal Formula Batch: Multiple ledger batches
can affect multiple ledgers in the batch. You can define recurring journal
formulas across ledgers.
Note:
You can only define single ledger
batch types for budget formulas.
You can create recurring journal formula batches that
include ledgers that have the same chart of accounts, calendar, and period type
as the data access set of your current responsibility. When you generate the
recurring journal formula batches, you must have read or read and write access
to the ledger and balancing segment value or management segment value to
generate recurring journals.
If you use reporting currencies (journal or subledger
level), you can create recurring journal formula batches for single reporting
currencies or multiple reporting currencies.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to
Define Recurring Journal Formula form.
2.
Double click on
Recurring or click on Open button
3.
Define
Recurring Journal Formula form should open.
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1.
Enter a Name
and optional Description for the recurring journal batch.
2.
Choose a
Recurring Batch Type. Note: You can only choose the single ledger
batch type for budget formulas.
3.
If you chose a
single ledger recurring batch type, enter the name of the ledger. For a
multiple ledger batch type, the Ledger field is disabled.
4.
If you want to
copy entries from an existing recurring journal batch to your new batch,
choose AutoCopy Batch.
5.
Create
recurring journal entries for the batch. If you copied entries, modify them,
if necessary.
6.
(Optional)
Select the Enable Security checkbox to apply Definition Access Set security
to your recurring journal definition. Definition Access Sets are an optional
security feature that allows you to control access to your General Ledger
definitions.
7.
Enter a range
of Effective Dates that includes only those periods for which you want the
recurring journal entry to be used. Attention: Recurring journal
entries will only be created when you choose to generate them for a date that
falls within the Effective Dates range.
8.
Click on Lines
button to enter the account you want General Ledger to update when you
generate your recurring journals, as well as the formula to use.
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  |
ENTER A RECURRING ENTRY LINE
1.
Enter a Line
number to set the order of your recurring journal entry lines. You can
indicate an automatic offsetting line for your recurring journal entry by
entering the line number 9999. Recommend that you use, at a minimum,
increments of 10.
2.
Enter the Account
you want General Ledger to update when you generate and post your recurring
journals.
3.
Enter an
optional Line Description for the recurring entry line.
4.
Enter a Formula
for the line.
5.
Enter the
remaining lines for the recurring journal entry. Remember that you can use
line number 9999 as the automatic offsetting line for each recurring journal
entry.
To enter an
automatic offsetting line:
You can enter a
recurring journal entry line and have General Ledger calculate and insert the
balancing amount for the recurring journal entry automatically. This is
useful for allocation-type entries.
·
Enter 9999 as
the line number for the automatic offsetting line.
·
Enter an
Account for the line but do not enter a formula. General Ledger will
automatically calculate the amount for this journal entry line when you
generate your recurring journal.
6.
Save your work.
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ENTER A SKELETON JOURNAL ENTRY
1.
Enter a Line
number to set the order of your recurring journal entry lines.
2.
Enter the
Account you want General Ledger to update when you generate and post your
recurring journals. Do not enter a formula.
3.
Enter the
remaining lines and accounts for the recurring journal entry.
4.
Save your work.
To enter amounts for a skeleton entry:
1.
Generate the
recurring journal batch that contains your skeleton entry.
2.
Edit the
unposted journal batch using the Enter Journals window, and enter the journal
line amounts.
3.
Save the
revised journals.
4.
Post the batch.
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GENERATING
RECURRING JOURNALS
PURPOSE: To provide
instructions to generate recurring journals.
·
INTRODUCTION: .
You must generate recurring journals to create unposted journal entries from
the recurring journal formulas you defined. After generating the formulas, you
can review or edit the recurring journal batches before posting them.
Prerequisite
·
Define your
recurring journal entry formulas.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Generate Recurring Journals form.
2.
Double click on
Recurring or click on Open button.
3.
Generate
Recurring Entries form should open.
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1.
Select the
Recurring Batches you want to generate.
2.
Enter the
accounting Period for which you want to create an unposted journal batch. The
default is the first open accounting period following the one for which you
last generated recurring journals. LOV available.
3.
(Optional)
Choose the Recurring Journal button to review the batch definition. You can
generate your recurring journal batch from this window
4.
Click on Generate
button.
5.
General
Ledger submits a concurrent process to create unposted journal batches based
on the selected recurring journal formula batches. Note the Request ID
assigned to the concurrent process.
6.
General Ledger
names the resulting journal batch as follows: <Recurring Batch Name>:
<Date> <Time>. For example, RENT: 15-JAN-08 16:36.
7.
If you
generated skeleton journal entries, use the Enter Journals window to complete
the journal information.
8.
Post the
generated recurring journal batches to update account balances.
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STANDARD
REPORT SUBMISSION
PURPOSE: To provide
instructions for submitting standard reports.
INTRODUCTION: General Ledger
gives you a complete set of standard reports such as journal reports, general
ledgers, account analyses and trial balances. You can also request standard
listings to review key non-financial information, including your chart of
accounts, row sets, column sets and content sets, reporting hierarchies,
consolidation definitions, recurring journal formulas, and more. All of the
information in these reports and listings is also available online.
You can combine standard
reports, listings and programs into a request set to submit them as a group. In
addition, if the Financial Statement Generator program is assigned to your
responsibility, you can include FSG reports in standard request sets.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Submit Request form
2.
Double click on
Standard or click on Open button.
3.
Submit a New
Request form should open.
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1.
Select Single
Request or Request Set option.
2.
Click on OK
button.
3.
Submit Request
should open.
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1.
Select the
report to run at the Request Name option. LOV is available to find the
report.
2.
Entert the
appropriate parameters for the report you wish to run. LOV is available for
the majority of parameter options.
3.
Click on Completion
Options button to review or change printer, number of copies, forward
options, and save options.
4.
Submit the
report by clicking on the Submit Request button.
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Review the status of your request. You can get to the Requests
for in three ways:
·
When you submit
the request the form should appear.
·
From any
screen, under the Help Menu option, click on View My Requests
option.
·
From the
Navigator screen, Other -> Requests.
1.
The Find
Request form should open.
2.
Enter
parameters if you wish to select specific requests or click on the Find
button if you want to review all request.
3.
The Request
form should open.
You can review all of your requests at the same time, or you can
review only certain requests, based on the Request ID, phase or status you
specify. General Ledger provides detailed information about your request,
including request time, start time, report options, priority, status and much
more.
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1.
This is the Request
(the Concurrent Manager Screen) form. It can be refreshed to view the
current status. Click on the Refresh Data button to update the
current requests.
2.
The status of
the request(s) is displayed and updated when the screen is refreshed or
redisplayed.
3.
When the job is
completed, the output (report) can be viewed by clicking on the View
Output button.
4.
The log
produced by the request (useful if errors are encountered), can be seen by
clicking on the View Log button.
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FSG – FINANCIAL STATEMENT GENERATOR
PURPOSE: To provide
instructions how to create and run FSG’s.
INTRODUCTION: Financial
Statement Generator (FSG) is a powerful report building tool for Oracle General
Ledger.
With FSG, you can:
·
Generate
financial reports, such as income statements and balance sheets, based upon
data in your general ledger across a ledger set or a ledger.
·
Generate
presentation quality financial reports with XML Publisher so that you can have
more control with report formatting options, including changing font
characteristics, inserting graphical images or logos, and adding color.
·
Define segment
value security rules to restrict financial information contained in FSG report
output generated by specific users and responsibilities.
·
Enable definition
access set security to allow specific reports or report objects to only be
used, viewed, or modified by certain users.
·
Define your
reports with reusable report objects, making it easy to create new reports from
the components of reports you've already defined. You can also define your
reports to be reusable for different ledgers or ledger sets by specifying the
ledger or ledger set at report generation time as opposed to in the report
definition.
·
Define your
reports with reusable report objects, making it easy to create new reports from
the components of reports you've already defined.
·
Design custom
financial reports to meet specific business needs.
·
Print as many
reports as you need, simultaneously.
·
Print the same
report for multiple companies, cost centers, departments, or any other segment
of your account structure, in the same report request.
·
Schedule reports
to run automatically.
·
Produce ad hoc
reports whenever you need them.
·
Print reports to
tab-delimited files for easy import into client-based spreadsheet programs.
In addition, you can use the
Report Wizard feature of GL Desktop Integrator to design and submit your
financial reports, as well as view the results, directly from a spreadsheet.
ORACLE SCREEN
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PROCEDURAL STEPS
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Steps to create a FSG report:
1.
Navigate to the
Row Set form.
2.
Double click on
RowSet or click on Open button.
3.
Row Set form
should open.
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1.
Enter in the
Name of the row set. Do not use the ampersand (&) symbol in your Row Set
name.
2.
Enter in the
Description of the row set.
3.
(Optional)
Select the Enable Security checkbox to apply Definition Access Set security
to your row set definition. Definition Access Sets are an optional security
feature that allows you to control access to your General Ledger definitions.
For example, you can prevent certain users from viewing, making changes, or
using your row set. If you do not enable security, all users will be able to
use, view, and modify your row set.
4.
Click on the
Define Rows button.
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1.
Allocate a Line
Number for this row. (Suggestion: Leave space so that you can add
additional lines in between those you create now. ie: 10,20,30, etc.).
2.
Enter a Line
Item (this is what will appear on the report for this row, ie: REVENUE).
3.
Tab through Format
Options and enter information where you wish.
4.
Optionally
enter the Advanced and Display Options fields.
5.
Click on the Account
Assignments button if a detail line. Otherwise, use down arrow key to
begin a new line if header only.
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1.
Select a
mathematical Sign ( + or - ) to tell FSG whether to cumulatively add or
subtract the balances for each account in the specified account range. To use
this feature, each segment in the range must be defined with a display type
of T (Total).
2.
(Optional)
Enter the same ledger segment value for the Low and High ledger segment
range. If you do not enter a ledger or ledger set, FSG uses the ledger or
ledger set you specify at run time
3. Enter the range
of values of the accounts to include. Note: To specify just one account rather than a
range, enter the same account as the Low and High. If you leave an account
segment blank, FSG will process all values for that segment.
4.
Enter a Display
type for each account segment.
Note: You
must use a display type of T (Total) for each segment if you assign: A
ledger/ledger set or accounts to a column. Note: FSG does not support expanding across a
ledger set within a single column. If you want to report on a ledger set
across columns, you must explicitly specify the ledger or reporting currency
to report on in each column. Note: FSG
does not support expanding across a ledger set within a single column. If you
want to report on a ledger set across columns, you must explicitly specify
the ledger or reporting currency to report on in each column.
5.
Check the
Summary checkbox if you want to report only summary balances for the accounts
in the specified range.
6.
Select an
Activity type (Dr, Cr or Net) to specify the types of balances to use for the
accounts in each account range. For example, enter Dr or Cr if you want to
define a cash flow report or a statement of changes in financial position.
For these types of reports, you may need separate rows or columns for debit
and credit amounts.
7.
Click on Action
Save from the pull down menu or the Save button on the toolbar.
8.
When you want a
calculated line, you have to click on the Calculations button.
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1.
Navigate to the
Column Set form.
2.
Double click on
ColumnSet or click on Open button.
3.
Column Set form
should open.
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1.
Enter in the Name
of the column set.
2.
Enter in the Description
of the column set.
3.
(Optional)
Enter an Override Segment.
4.
(Optional)
Select the Enable Security checkbox to apply Definition Access Set security
to your column set definition. Definition Access Sets are an optional
security feature that enables you to control access to your General Ledger
definitions. For example, you can prevent certain users from viewing, making
changes, or using your column set. If you do not enable security, all users
will be able to use, view, and modify your column
5.
Click on the Define
Columns button.
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1.
Enter a
Position for this column to appear on the page.
2.
Enter a Sequence
number if required to be used in the calculations.
3.
Enter a Format
Mask.
4.
Enter a Factor
if required (LOV).
5.
Enter an Amount
Type (LOV).
6.
Enter the Currency
(LOV).
7.
Enter a Offset
(period) if required for this column (eg –1 means 1 period before the period
the report is being fun for).
8.
Enter any Advanced
or Display Options as required.
9.
You may also
enter calculations or accounts assigned to columns, if required.
9.
When complete,
click on Action Save from the pull down menu or the Save button
on the toolbar.
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1.
To create your
report and to assign it the row set and column set, Navigate to the Report
form.
2.
Double click on
Report or click on Open button.
3.
Define
Financial Report form should open.
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1.
Enter in the Name
of the report.
2.
Enter in the Title
of the report. The report title is what FSG will print at the top of the
report.
3.
Enter in the Description
of the report.
4.
Enter the Row
Set to use for the report. (LOV)
5.
Enter the Column
Set to use for the report. (LOV)
6.
(Optional)
Enter the Content Set, Row Order, and/or Display Set to
use for the report.
7.
(Optional)
Enter Segment Override values for the account segments you want to
override. When you enter a segment override value, FSG produces a report for
the specific value you specify. For example, assume you have a report definition
which produces a combined assets report for four companies. If you modify the
report definition to add a segment override for company 02, then FSG will
print an assets report for company 02 only. Note: If a segment you
override is subsequently disabled, the Segment Override definition becomes
invalid and you must redefine your report.
8.
(Optional)
Enter a default Currency for the report. FSG uses this currency only
for those rows and columns to which you did not assign a currency when you
defined row and column sets.
9.
(Optional)
Select a Rounding Option to use for calculations in the report (LOV).
·
Calculate Then
Round: FSG performs calculations before any rounding.
·
Round Then
Calculate: FSG rounds values before they are used in calculations.
10. (Optional) Select a Level of Detail for the
report. There are three options, which correspond to the levels of detail you
can assign to rows and columns. If you specify a level of detail for your
report, FSG will only print those rows and columns with matching levels of
detail. Note: If you do not enter a level of detail for a report, the
system will assume the level of detail is Financial Analyst.
11. Enter an Output Option for your report:
·
Text: Produces
a report in standard text form (no tab-delimited columns). If you download
the report to a spreadsheet, you must manually parse the report columns. The
default is Text.
·
Tab-Delimited:
Produces a report whose columns are delimited by tabs, making it easier to
import the report into a spreadsheet.
·
Spreadsheet:
Produces a report designed specifically for downloading to GL Desktop
Integrator.
10.
Save your
work, click on Action Save from the pull down menu or the Save
button on the toolbar.
12. Choose Run Report if you wish to run report at this
time. A dialogue box will display telling you that the transaction is
complete. Click OK.
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FINANCIAL
(FSG) REPORT SUBMISSION
PURPOSE: To provide
instructions for submitting financial (FSG) reports.
INTRODUCTION:. To generate
FSG reports you must request that FSG run them. You can request an individual
report, all or part of a report set, or several report sets. If you request an
individual report, you can either run a predefined report or request that FSG
run an ad hoc report. For ad hoc reports, you select report objects and other
report parameters during the report submission process.
When
you request a predefined report, you can either run the report with the
parameters you saved in the report definition, or you can change the parameters
at runtime. However, if you change the parameters at runtime, FSG will not save
them in the stored report definition. You can also re-use FSG reports and
components so that you can run them for different ledgers, ledger sets, or
reporting currencies that share the same chart of accounts by specifying the
ledger parameter at run time. The ledger value you specify fills in as the
ledger parameter should this not be specified in the report definition.
You
can request reports from the Run Financial Reports window or through standard
request submission (Submit Requests window). The advantage of requesting
reports through standard request submission is that you can schedule the
reports to run automatically. You can also combine FSG reports with standard
reports, listings, and programs. The disadvantage is that you cannot run report
sets through standard request submission.
To
publish FSG reports using XML Publisher, you must run the FSG program to
generate your FSG report in XML output and then run XML Publisher to apply the
layout and formatting of a report template to your FSG report. You can do this
from the Run Financial Reports window or from the Submit Requests window. You
can also generate the XML output and publish your FSG report's XML output
through the Submit Requests window from a single submission request. After your
FSG report has been published the first time, you can republish your FSG report
using a different report template to acquire a different look for the same
financial report without having to run the FSG program again to create the XML
output.
ORACLE SCREEN
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PROCEDURAL STEPS
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1.
Navigate to the
Submit Request form
2.
Double click on
Financial or click on Open button.
3.
Run Financial
Reports form should open.
Note: You can also choose the Run Report button from the
Define Financial Report window.
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1.
Choose Individual
Reports from the list.
2.
Enter the Report
name. (LOV)
3.
Enter your
report parameters.
4.
Click on the Submit
button.
5.
Click on OK
button.
6.
Submit Request
should open.
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SUBLEDGER
JOURNAL IMPORT
PURPOSE: To provide
instructions on how to import journals into the General Ledger.
INTRODUCTION: Use Journal
Import to integrate information from other applications such as payroll,
accounts receivable, accounts payable and fixed assets with your General Ledger
application. For each accounting period, you can import accounting data from
these feeder systems, then review, update and post the journal entries.
ORACLE SCREEN
|
PROCEDURAL STEPS
|
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1.
Navigate to the
Import Journals form
2.
Double click on
Run or click on Open button.
3.
Import Journals
form should open.
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1.
Enter the Source
from which you want Journal Import to create journal entries (LOV)
2.
Select Ledger
from the LOV
3.
You can import
data for the same or different sources in parallel by specifying a unique Group
ID for each request. General Ledger imports data with the journal entry
source and group ID combination you specify. If you do not specify a group
ID, General Ledger imports data from the specified journal entry source with
no corresponding group ID.
4.
Define the
Journal Import Run Options.
5.
select an
option for Import Descriptive Flexfields .
6.
Enter a Date
Range to have General Ledger import only journals with accounting dates in
that range. If you do not specify a date range, General Ledger imports all
journals data.
7.
Click Import
to submit a concurrent process to import journals. General Ledger names the
resulting batch as follows: <REFERENCE1> <Source> <Request
ID>: <Actual Flag> <Group ID>; for example, 587-C Payables
18944: A 347.
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1.
Review the
Journal Import Execution Report to determine the number of errors in the
import data, and how to correct any Journal Import errors.
2.
If you have
only a few Journal Import errors, correct the errors from the Correct Journal
Import Data widow, then rerun Journal Import on the corrected data.
3.
If the number
of Journal Import errors is high, delete all of the import data for your
journal entry source and group ID. Correct the errors then repopulate the
GL_INTERFACE table before rerunning Journal Import.
4.
Post the
journal.
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MAINTAINING ACCOUNTING FLEXFIELD SEGMENT
VALUES
PURPOSE: To provide
instructions on how to add/change/disable segment values of the accounting
flexfield.
ORACLE SCREEN
|
PROCEDURAL STEPS
|
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1.
Navigate to the
Find Key Flexfield Segment form
2.
Double click on
Values or click on Open button.
3.
Find Key
Flexfield Segment form should open.
|
 |
1.
Enter
Application = Oracle General Ledger or use LOV to select that option.
2.
Use LOV to
default in the Title.
3.
Use LOV to
default in the Structure.
4.
Use LOV to
select the segment (company, account, department, or product line) which you
want to maintain.
5.
Enter in Value
of segment if applicable.
6.
Click on Find
to bring up all values or selected values.
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1.
To edit or
disable a value, click on the value.
2.
Edit or disable
value.
3.
To add a value,
click on value line.
4.
Click on Add
button on toolbar (Green Plus box).
5.
Enter data.
6.
Save your work,
click on Action Save from the pull down menu or the Save button
on the toolbar.
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OPEN/CLOSE/REOPEN GENERAL LEDGER ACCOUNTING
PERIODS
PURPOSE: To provide
instructions on opening, closing, and reopening General Ledger accounting
periods.
INTRODUCTION: Open and close
accounting periods to control journal entry and journal posting, as well as
compute period- and year-end actual and budget account balances for reporting.
Accounting periods can have
one of the following statuses:
·
Open: Journal
entry and posting allowed.
·
Closed: Journal
entry and posting not allowed until accounting period is reopened. Reporting
and inquiry allowed.
·
Permanently Closed:
Journal entry and posting not allowed. You cannot change this period status.
Reporting and inquiry allowed.
·
Never Opened:
Journal entry and posting are not allowed. General Ledger assigns this status
to any period preceding the first period ever opened in your calendar, or to
any period that has been defined, but is not yet future-enterable. You cannot
change this period status.
·
Future-Entry:
Journal entry is allowed, but posting is not. Your period is not yet open, but
falls within the range of future-enterable periods you designated in the Set of
Books window. You cannot change this period status without using the concurrent
process to open the period.
You can open new accounting
periods, close accounting periods, and reopen closed accounting periods.
ORACLE SCREEN
|
PROCEDURAL STEPS
|
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OPEN GENERAL LEDGER PERIOD:
1.
Navigate to the
Open and Close Periods form.
2.
Double click on
Open/Close or click on Open button.
3.
The Find
Periods window appears
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1.
Choose a Ledger
from the list of values.
2.
Choose the
Period Status of the periods you want to find. Any is the default to indicate
any period status.
3.
(Optional)
Specify a Period, Fiscal Years, or Period Number to find specific periods for
the ledger. If you leave these fields blank, all periods are retrieved.
4.
Select Find.
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1.
General Ledger
displays the Latest Open accounting period. Note that while a period may be
the most recently opened accounting period, this period may have a current
status of closed.
2.
Click on Open
Period.
Suggestion: Although you can have several open accounting
periods, to maximize the efficiency of the General Ledger posting process, as
well as to minimize the possibility of user error, limit the number of
accounting periods that are open at one time.
Note: If you open the first period of a new fiscal year,
General Ledger automatically updates the Retained Earnings account.
3.
A window with
fields , ledger and Target Period will appear.
4.
Give the value
for the Target Period and click open.
5.
Decision form
will appear to continue the open period process.
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 |
1.
Click on the Yes
if you wish to continue the process. If you want to terminate the
process, click on No. General Ledger calculates the ending account
balances for the current period, and launches a concurrent process to open
the next period. The current period remains Open.
2.
If you selected
Yes, a note box will appear with your concurrent ID assigned. If No
selected, you will be returned to the Open and Close Periods form.
|
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1.
Click on OK
and the next period will be opened after the concurrent process is completed.
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CLOSE GENERAL LEDGER PERIOD:
1.
Navigate to the
Open and Close Periods form.
2.
Double click on
Open/Close or click on Open button.
3.
The Find
Periods window appears.
|
 |
1.
Choose a Ledger
from the list of values.
2.
Choose the
Period Status of the periods you want to find. Any is the default to indicate
any period status.
3.
(Optional)
Specify a Period, Fiscal Years, or Period Number to find specific periods for
the ledger. If you leave these fields blank, all periods are retrieved.
4.
Select Find.
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1.
General Ledger
displays all accounting periods defined for the calendar
2.
Select the open
period that you want to close by clicking on the Period or arrowing to
the appropriate Period.
3.
Enter a new Status
for the period using the LOV.
·
Enter Closed
to prevent entering or posting journals to that period. You can reopen a
closed period at any time.
·
Enter Permanently
Closed to prevent entering or posting journals to that period. You
cannot reopen a permanently closed period.
4.
Save your work,
click on Action Save from the pull down menu or the Save button
on the toolbar
|
 |
REOPEN GENERAL LEDGER PERIOD:
1.
Navigate to the
Open and Close Periods form.
2.
Double click on
Open/Close or click on Open button.
3.
The Find
Periods window appears
|
|
1.
Choose a Ledger
from the list of values.
2.
Choose the
Period Status of the periods you want to find. Any is the default to indicate
any period status.
3.
(Optional)
Specify a Period, Fiscal Years, or Period Number to find specific periods for
the ledger. If you leave these fields blank, all periods are retrieved.
4.
Select Find.
|
 |
1.
General Ledger
displays all accounting periods defined for the calendar.
2.
Select the
closed period that you want to reopen by clicking on the Period or
arrowing to the appropriate Period. General Ledger displays all
accounting periods defined for the calendar
3.
Enter a Open
for Status for the period using the LOV. You can reopen any
closed period that is not permanently closed.
4.
Save your work,
click on Action Save from the pull down menu or the Save button
on the toolbar
|
GENERAL LEDGER MONTH-END CLOSE PROCEDURE
PURPOSE: To provide
instructions for closing the month-end General Ledger accounting period.
INTRODUCTION: General
Ledger should be the last to close, after all feeder systems have transmitted
their final entries for the accounting month. However, you will go ahead
and open the period for the next month while leaving the current month
open.
PRE-CLOSE STEPS:
1.
Reverse any
accrual type journal entries from the previous period, and post
reversals. Each journal entry can be flagged to “reverse”, and if so
flagged, the user can specify the period in which it should be reversed.
Typically, the reversal is done one period after it is initially posted.
2.
Enter final
manual journal entries, such as accruals and adjustments and post.
3.
Run Journal
Import to load journal entries from feeder systems. Review these
transactions using on-line journal inquiry and then post.
4.
Generate journal
entries for any Recurring journals. Review these transactions using
on-line journal inquiry and then post.
5.
Generate journal
entries for any Allocation journals. Review these transactions using
on-line journal inquiry and then post.
6.
Verify that
feeder systems have been closed and all transactions have been imported into
Oracle General Ledger.
7.
Review any
desired balances using the online account/summary inquiries. Also run any
standard General Ledger reports or FSG’s. A list of inquiries and reports
to run include:
·
Journal Inquiry
of Journal Listings such as the Journal Entry Report
·
Account Inquiry
or Account Analysis Report.
·
Trial Balances –
Detail or Summary
·
Pre-Close FSG’s –
Balance Sheet and Income Statement
FINAL CLOSING STEPS:
1. Navigate to the
Journals Post form, verify that there are no more journal entries to post for
the period you are about to close. If there are journal entries remaining
to be posted, you must post them before closing.
2. Close the
accounting period in Oracle General Ledger. Select the status
“Close”. You may reopen the period if needed to do any adjustments that
might be found during the reconciliation process. Period should be closed
prior to reconciling to assure that no more “illegal” entries can be passed
through without knowledge.
3. Run desired General
Ledger month-end reports.
4. Balance General
Ledger to each feeder system using GL reports and feeder system reports.
If any error(s) are detected, and additional GL entries need to be posted,
“Open” the period again, process the entries, then “Close”.
3 comments:
Good work Raju, very descriptive
Very good work
Nice Explanation
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