Oracle General Ledger Guide 454027
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ORACLE GL MANUAL
ORACLE FINANCIALS GUIDE International Institute of Tropical Agriculture
General Ledger Author: Creation Date: Last Updated: Control Number: Version:
Oracle Implementation Team October 22, 2001
ORACLE GL MANUAL
OUTLINE
1. GENERAL TRANSACTIONS 1.1. Creating New s or Cost Centres 1.2. Closing a Cost Centre or 1.3. Transferring balance of a closed cost centre 1.4. Defining Recurring Journals 2. DAILY TRANSACTIONS 2.1. Journal Entry 2.2. Entering journals in a foreign currency 2.3. Entering weekly currency rates 2.4. Importing journals from sub ledgers 2.5. Running the "Program Create Journals" 2.6. Posting journals 2.7. Creating reversal journal entries 3. CLOSING AND REPORTING 3.1. Reconciliation with sub ledgers 3.2. Running revaluation 3.3. Creating closing and opening journals 3.4. Creating the trial balance 3.5. Creating the balance sheets 3.6. Period closing process 4. BUDGETING 4.1. Creating budgets 4.2. Creating budget organisation 4.3. Entering budget journals (JE Screen and ADI)
Page 1 1 1 2 3 5 5 6 6 6 7 7 8 10 10 10 11 13 13 14 15 15 15 16
RULES FOR THE GENERAL LEDGER MODULE
General Ledger Module is the last checking point of all of the transactions generated throughout the system. General Rules 1. Errors which are made in the subledgers are not to be corrected in General Ledger. However, the s have to be warned by the person responsible for posting in GL and the the correct transaction has to be posted to GL again. Both the wrong and the correct entries will be posted in GL. 2. Run the program Create Journals daily to post the encumbrance amounts to GL. 3. Run GL Import daily to post the actual transactions to be posted to GL. 4. Post journals in GL daily.
System Required GL Entries & Adjustments FA Purchases and Sales 1. When the AP Accrual Acc will be changed to Asset Accrual, and posted, the AP Accrual 's balance need to be debited in GL with an adjustment journal (please refer to FA guide, Processes Section for the detail transactions) 2. An Encumbrance Journal to debit the related Asset Expense will be raised. 3. Fixed asset sales will be entered as a journal in GL Module, using the category 'FA Sales', where the related Bank/Cash is debited and Proceeds of Sales (5440.1122) is credited. GL01 GENERAL TRANSACTIONS
TRANSACTION NATURE 1.1. Creating A New Cost Centre Or
NAVIGATION
TASKS
Setup>Financials > Flexfields>Key> Values
1. Tick the Value Set button on the find Value Set Window 2. Enter IITA_COST_CENTRE or IITA_ in the name field. 3. Click Find 4. Press the “New Record” button on the tool bar to add the new record 5. Enter the appropriate value into the “Value” column 6. Enter the appropriate Cost Center/ details 7. Press tab 8. Check the “Enabled” checkbox 9. Save your work
1.2. Closing a Cost Centre or
Setup>Financials > Flexfields>Key> Values
1. Tick the Value Set button on the find Value Set Window 2. Enter IITA_COST_CENTRE or IITA_ in the name field. 3. Click Find
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TASKS 4. Select the appropriate row containing the sought Cost Center/ 5. Uncheck the “Enabled” checkbox 6. Save your work
1.3. Transferrin g Balance Of A Closed Cost Centre
Setup>Other>Ma ss Maintenance
To move or merge balances: Note: Before closing the related cost centre, you should have moved the balance(s) in that cost centre to a new cost centre. 1. Enter a Request name and Description for your move/merge. (NAME290CT01-01) 2. Select Move/Merge as the Request Type. 3. Enter the Line number 10 for the source– to– target specification. 4. Enter a unique Source specification from which to move/ merge balances. You can also select your segment values from the list of values. Note: If you enter values for all of the segments, the must exist and must be enabled. If you enter values only for some of the segments, the values you enter must exist and be enabled. Additional Information: Choose the Segment Values button if you want to review your segment values. This will take you to the Segment Values window. Use the menus to return to the Mass Maintenance Workbench window. 5. Enter the Target specification to which you want to move/merge balances. You can also select your segment values from the list of values. Note: The format of the target specification must be the same as the format you use for the source . For example, if you enter values only for some of your source segments, you must enter values for the same segments of your target specification. If you enter a complete as your source, you must enter a complete for your target. Additional Information: Target s that do not exist will be created if they cross– validation checking. 6. Continue entering specifications until you are done. 7. (Optional) Choose the Prevalidate button to run the prevalidation process. Review the execution report and correct any errors before submitting the move/merge. Additional Information: Generally, you should prevalidate your specifications if you plan to run your move/merge unattended, such as overnight. The prevalidation process helps ensure that your move/merge request completes successfully. If you do not prevalidate, General Ledger will still validate your specifications when you submit the move/merge. 8. Save your work.
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TASKS Submitting a Move/Merge Request 1. Navigate to the Mass Maintenance Workbench window. 2. Query the move/merge definition that you want to submit. 3. Choose the Submit button to start the move/merge process. 4. Review the Mass Maintenance Execution Report for any errors. If necessary, correct any errors then resubmit the move/merge request. 5. (Optional) Purge the interim move/merge tables that were created during the move/merge process. Caution: We recommend that you purge tables only after you have verified that the moved balances are correct. Once you purge the tables, you cannot reverse the move/merge Operation. To reverse a move/merge: 1. Navigate to the Mass Maintenance Workbench window. 2. Query the move/merge request that you want to reverse. 3. Choose the Reverse button.
1.4. Defining Recurring Journals
Journals>Define> Recurring
To create a recurring journal batch: 1. Navigate to the Define Recurring Journal Formula window. 2. Enter a Name (e.g. OVERHEADCALC_29OCT01.01) and optional Description for the recurring journal batch. 3. If you want to copy entries from an existing recurring journal batch to your new batch, choose AutoCopy Batch. 4. Create recurring journal entries for the batch. If you copied entries, modify them, if necessary. 5. Save your work. 6. Generate recurring journals. 7. Review and post your generated recurring journal batches. Suggestion: You can use Automatic Journal Scheduling to generate your recurring journals according to a specific schedule you define. To enter a recurring journal entry line: 1. Navigate to the Define Recurring Journal Formula window. 2. Enter or query the batch name and the journal entry name. 3. Choose Lines. 4. 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. 5. Enter the you want General Ledger to update when you generate and post your recurring journals to the line 6. Enter an optional Line Description for the recurring entry line. 7. Enter a Formula for the line. 8. Enter the remaining lines for the recurring journal entry. that you can use line number 9999 as the automatic offsetting line for each recurring journal entry. 9. Save your work. _ To create a skeleton journal entry: 1. Navigate to the Define Recurring Journal Formula window. 2. Enter or query the batch name and the journal entry name. 3. Choose Lines.
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TRANSACTION NAVIGATION NATURE
TASKS 4. Enter a Line number to set the order of your recurring journal entry lines. 5. Enter the you want General Ledger to update when you generate and post your recurring journals. Do not enter a formula. 6. Enter the remaining lines and s for the recurring journal entry. 7. Save your work.
Journals>Define> Recurring
_ To enter amounts for a skeleton entry: 1. In the “Define Recurring Journal Formula” window, search for the batch that you want to enter amounts. 2. Press “Generate” button to generate the recurring journal batch that contains your skeleton entry. 3. Edit the unposted journal batch using the Enter Journals window, and enter the journal line amounts. 4. Save the revised journals 5. Post the batch. (See Post Journals, page 9)
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GL02
DAILY TRANSACTIONS
TRANSACTION NAVIGATION TASKS NATURE 2.1. Journal Entry Journals > Enter, 1. Navigate to the Enter Journals window. then choose New 2. Enter or query the batch for which you are entering journals. To enter a journal without entering batch information, choose New Journal and proceed to Step 4. • To enter journals for a new batch, choose New Batch and enter the batch information. • To add journals to an existing batch, query the batch and choose Review Batch. Note: The Status region on the Batch window will display the current statuses for Posting, Funds reservation, and journal Approval. 3. Choose Journals. 4. 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. If you did not enter a batch name before entering journals, General Ledger uses the name of the first journal in the batch to create a default batch name. 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. Note: If you enter a period prior to the current ing period and the profile option Journals: Enable Prior Period Notification is set to Yes, General Ledger displays a message indicating that you are entering a prior period journal. You must confirm that this is what you want to do. Additional Information: Balance Type is a display–only field. It displays Actual when you are entering actual journals and Budget when you are entering budget journals. 6. Accept or change the default Effective Date for the journal entry. This will be the GL date of your transaction 7. Change the Category to describe the purpose of your journal entry, (e.g. accrual, payments, adjustments etc.). All lines in a journal entry share the same journal category. 8. Enter an optional 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. 9. Enter a Control Total if you want to the total debits for the journal lines against the journal control total. 10. Accept the default Currency (the functional currency for your set of books), or change the journal currency to enter a foreign currency. (If the journal you enter is in a foreign currency, see Entering Journals in a Foreign Currency, page 7) 11. Choose More Details to enter optional reference information
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NAVIGATION
TASKS about the journal entry in the More Details window. • (Optional) Enter a Reference description to further identify the journal entry on general ledger and journal entry reports. 1. Repeat the above process and choose the appropriate currency in the Currency field list of values.
2.2. Entering Journals in a Foreign Currency 2.3. Entering Weekly Currency Rates
Setup>Currencie s> Rates>Daily
To enter a single rate for a date range: 1. Navigate to the Daily Rates window. 2. Choose the Enter by Date Range button. The Enter Rates By Date Range window appears. 3. Enter the From– Currency — the currency you want to convert from using the rates you enter. You can choose any enabled currency except STAT. General Ledger automatically displays the functional currency for your set of books as the To– Currency — the currency to which you want to convert. 4. As needed, change the To– Currency. If you enter the same currency as your from– currency, you will receive an error. 5. Enter From Date and To Date to span your desired date range. 6. Enter the Conversion Date and choose “Corporate” as Type. When you use this date and rate type to enter journals, General Ledger automatically displays the rate you define here. 7. Enter the conversion rate you want General Ledger to use to convert your from– currency amounts into you to– currency equivalents. General Ledger automatically calculates the inverse of the rate and displays it in the adjacent column. • Enter a rate in the first column that converts your from– currency to your to– currency. This is the rate that you multiply your from– currency amount by to determine the to– currency equivalent. For example, to convert AUD to USD (Australian Dollars to U.S. Dollars), enter .7793 if the rate is .7793 U.S. dollars per Australian dollar. Note: If you run a query on a single rate that contains a range of dates, your query results list each date within your specified date range as a single row.
2.4. Importing Journals From Sub Ledgers
Journals>Import > Run
To import journal entries to General Ledger: 1. Navigate to the Import Journals window. 2. Enter the Source from which you want Journal Import to create journal entries. Choose one or more of the following Sources: • Assets • Inventory • Paypers • Payables • Purchasing • Receivables • Spreadsheet 3. You can import data for the same or different sources in parallel
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NAVIGATION
TASKS 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. Caution: Do not specify more than 20 Source/Group ID combinations per import. Journal Import cannot process more than 20 Source/Group ID combinations at once. 4. Choose Import Descriptive Flexfields if you have any DFF on the transactions that you are importing from that source, and to import them with validation. (In most cases, Import DFF, No, With & Without Validation should be blank). 5. (Optional) Enter a Date Range to have General Ledger import only journals with ing dates in that range. If you do not specify a date range, General Ledger imports all journals data. 6. Choose Import to submit a concurrent process to import journals. General Ledger names the resulting batch as follows:
<Source>
:
; for example, 587–C Payables 18944: A 347. 7. Review the Journal Import Execution (Click on the “View Output” button on the requests Screen after Journal Import request has been completed) Report to determine the number of errors in the import data, and how to correct any Journal Import errors. You cannot correct journals here if they have errors. This part is only for information to see which journal has what error. Go to the relevant sub-ledger, create the correct entry and re-post the transaction
2.5. Running the Create Journals Program
Request
2.6. Posting Journals
Journals>Post
1. Navigate to the Run Requests window. 2. Select the Create Journals Program. 3. Enter the Minimum Save Time. This is the minimum number of hours that General Ledger waits before deleting funds checking details. Once these details are deleted, you cannot view them online or through reports. 4. In the Create Summary Journals field, enter Yes to summarize all activity for the same ing Flexfield within each journal entry in a batch into one debit and one credit journal line. 5. Enter the Run Options. You can set the Create Journal Program to run once, or you can set it to run at regular intervals. 6. Submit the request. To post journal batches: Navigate to the Post Journals window. Note: You can also post a journal batch by choosing the Post button from the More Actions window when you are entering or reviewing a journal entry. This will post the entire batch containing the journal you are entering or reviewing. 2. Query the journal Batch you want to post. You can also query all unposted journal batches. 1.
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NAVIGATION
TASKS
3.
4.
5. 6.
7.
2.7. Creating Reversal Journal Entries
Journals>Genera te> Reversal
You see the Batch name and the posting Period, as well as the Balance Type, indicating whether your batch affects Budget, Actual, or Encumbrance balances. Choose the Review Batch button to review the details of your journal batch. Review the Period Status and Post Status to determine if a batch is available for posting. You can post actual batches to open periods, budget batches to periods in an open budget year, and encumbrance batches to any period up to the last period in the latest open encumbrance year. (Optional) Check the Control Total for the journal entry batch, if you entered one. If the control total does not equal Total Entered Debits and Total Entered Credits, you cannot post the batch, unless you allow suspense posting. Select the journal batches you want to post by checking the box Next to each batch. Choose Post to submit a concurrent request to post the selected journal batches. If you are using budgetary control and have not approved a journal batch before posting, the Posting program will attempt to reserve funds and if successful, post the batch. If the funds reservation is unsuccessful, the Posting program will mark the batch with an appropriate error. After the concurrent process completes, review the Posting Execution Report to determine if there were any errors during posting.
To reverse a journal entry from the Enter Journals window when the journal entry has a defined reversal period and reversal method: 1. Navigate to the Enter Journals window. 2. Query the batch and journal within the batch that you want to reverse. 3. Choose Review Journal. 4. Choose More Details. 5. Choose Reverse Journal. General Ledger names the reversal batch Reverses [Original Journal Entry Name] [Date] [Time]. 6. Post the reversing journal batch. To reverse a journal entry that does not have a defined reversal period, effective date (average balances enabled), and reversal method: 1. Navigate to the Enter Journals window. 2. Query the batch and journal within the batch that you want to reverse. 3. Choose Review Journal. 4. Choose More Actions. 5. Choose Reverse Journal. 6. Select the Reversal Period. Choose OK, then select a reversal method for your journal: Switch Dr/Cr: General Ledger creates your reversing journal by switching the debit and credit amounts of the original journal entry.
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TRANSACTION NATURE
NAVIGATION
TASKS 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. General Ledger will display your concurrent request ID. The reversal batch will be named Reverses [Original Journal Entry Name] [Date] [Time]. 8. Post the reversing journal batch. To reverse an entire journal batch: 1. 2. 3. 4. 5.
Navigate to the Enter Journals window. Query the batch you want to reverse. Choose Review Batch. Choose More Actions. Choose Reverse Batch to generate unposted reversal batches for each entry. If you did not assign a reversal period for one or more journal entries, General Ledger prompts you for a default reversal period 6. Choose OK, then enter a reversal method: 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. Use Defaults: General Ledger uses the reversal method assigned to the journal categories you used to create the journals in your batch. Once you choose a reversal method, General Ledger will submit concurrent requests to reverse the journals in your batch. 7. Post the reversing journal batches.
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GL03 CLOSING AND REPORTING
TRANSACTION NAVIGATION NATURE 3.1. Reconciliati on With Sub Ledgers Currency> 3.2. Running Revaluation Revaluation
TASKS To be covered in a separate document
To revalue your balances: 1. Navigate to the Revalue Balances window. Note: As you complete the remaining steps, note that the Revalue Balances window may display various warning messages, depending on the selections you make, especially if either the currency you are revaluing or your functional currency has a currency derivation of Euro, EMU, or Interim EMU. If you receive a warning, review your entries carefully to make sure they are correct. 2. Enter the ing Period for the balances you want to revalue. 3. Enter the Unrealized Gain/Loss or Cumulative Translation Adjustment to record net gains and losses from the revaluation. The default is the you entered for the previous revaluation. 4. Choose one of the following Currency Options: Single Currency: to revalue a particular foreign currency. EURO+EMU: to revalue all currencies whose currency derivation is EURO, EMU, and Interim EMU. All Currencies: to revalue all foreign currencies. 5. If you choose to revalue a single currency, enter the Currency to use for the revaluation. Note: You must define a period-end rate for your selected ing period and currency before running revaluation. 6. If you choose to revalue a single currency, you may need to enter the Rate to use for the revaluation. 7. The Revalue Ranges region of the window automatically displays the GL number ranges last entered. You can use these existing numbers and proceed with the revaluation, or you can delete the record (Edit>Delete Record) and enter a new number range or ranges. Note: You can select balance sheet and income statement s. Balance sheet s are revalued in accordance with their year– to– date balances. Income statement s are revalued using either their period– to– date or year– to– date balances. 8. Choose Revalue. General Ledger launches a concurrent process to
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TASKS revalue your balances. The process names your revaluation batch in the following format: Revalue
; for example, Revalue JAN– 01 31– JAN– 01 15:34:00. 9. Use the Revaluation Execution Report (Click on the “View Output” button on the requests Screen after Revaluation request has been completed) to review the status of your revaluation. General Ledger automatically generates this Report when you run revaluation. 10. Post the revaluation journal batch. (See Journal Posting, Page 9)
3.3. Creating Year-End Closing And Opening Journals (For Income Statement And Balance Sheet)
Reports>Reques t> Standard (select needed report and submit)
To create income statement closing journals: 1. Navigate to the Submit Request window. 2. Choose to Submit a single request. The Submit Request Window appears. 3. In the Request Name field, select Close Process: Create Income Statement Closing Journals program. 4. Complete the following parameters: Period: General Ledger defaults with the latest open period. Typically, you specify an adjustment period that represents the last day of your fiscal year. From: Enter the starting range. To Range: Enter the ending range. The range can span multiple balancing segments and include your entire chart of s listing. General Ledger only extracts balances of revenue and expense s within the range you specify. Closing : specify a closing , the retained earnings on the balance sheet. Category: Income Statement Close automatically appears in this field. Note: If the closing is an within the range you specified, General Ledger ignores this when extracting balances. 5. Choose OK to close the Parameters window. 6. Submit the program. The process generates journal entries that you can view in the Enter Journals and Post Journals windows. The journal source, Closing Journals and the journal category, Income Statement, are assigned to this closing journal. You can specify different names in the Journal Sources and Journal Categories windows. (See Post Journals, page 9) 7. Post your generated closing journals to update balances before closing the period. To populate new fiscal year income statement s balances: 1. Navigate to the Open and Close Period window. General Ledger displays the Latest Open ing period. 2. Change the Latest Open ing period if necessary. 3. Choose the Open Next Period button. The Open Period program automatically transfers the Y–T–D income statement balances to Retained Earnings.
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TASKS
To create balance sheet closing journals: 1. Navigate to the Submit Request window. 2. Choose to Submit a Single Request. The Submit Request window appears. 3. In the Request Name field, select Close Process: Create Balance Sheet Closing Journals program. 4. Complete the following parameters: Period: General Ledger defaults with the latest open period. Typically, you specify an adjustment period that represents the last day of your fiscal year. From: Enter the starting range. To Range: Enter the ending range. The range can span multiple balancing segments and include your entire chart of s listing. General Ledger only extracts balance sheet balances within the range you specify. Closing : you must specify a balance sheet closing . Category: Balance Sheet Close appears automatically in this field. Note: If the balance sheet closing is within the range you specified, General Ledger ignores this when extracting balances. Choose OK to close the Parameters window. 5. Submit the program. The process generates journal entries that you can view in the Enter Journals and Post Journals windows. The journal source, Closing Journals and the journal category, Balance Sheet Close are assigned to this closing journal. You can specify different names in the Journal Sources and Journal Categories windows. 6. Post the generated closing journals to update balances before closing the period. (See Post Journals, page 9) To populate new fiscal year balance sheet s: 1. Navigate to the Open and Close period window. General Ledger displays the Latest Open ing period. 2. Change the Latest Open ing period if necessary to close the last period of the year. 3. Choose the Open Next Period button to open the new year. The Open Period program automatically transfers the Y–T–D income statement balances to Retained Earnings. 4. Navigate to Enter Journals. 5. Query the Balance Sheet closing journals you generated at the end of the year. 6. Reverse the closing journals in the first period of the new fiscal year. 7. Post the generated journals. The Open Period program automatically opens beginning balances for your balance sheet s. Note: Use the More Details button in the Enter Journals window to change the reversal period for journals in Average Balance Sets of Books.
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TRANSACTION NATURE 3.4. Creating A Trial Balance (And Other Standard Reports)
NAVIGATION
TASKS
Reports > Request > Standard
To run a standard report, listing, or request set:
Other > Report > Run
Reports > 3.5. Creating The Balance Define > Report Sheet (And Other FSG Reports)
1. Navigate to the Submit Requests window. 2. Choose whether to run a request or request set, then choose the request or request set you want to run. 3. Enter the necessary request parameters. 4. Submit your request. 5. Review the status of your request. 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. Prerequisites • Define a row set. • Optionally, define column sets, row orders, content sets, and display sets. To define a financial report: 1. Navigate to the Define Financial Report window. 2. Enter a Name, report Title, and Description for your report. The report title is what FSG will print at the top of the report.
3. Enter the Row Set and Column Set to use for the report. 4. (Optional) Enter the Content Set, Row Order, and/or Display Set to use for the report. 5. (Optional) Enter Segment Override values for the 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. 6. (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. 7. (Optional) Select a Rounding Option to use for calculations in the report: Calculate Then Round: FSG performs calculations before any rounding. Round Then Calculate: FSG rounds values before they are used in calculations. 8. (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.
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TASKS 9. Enter an Output Option for your report: Text: Produces a report in standard text form (no tab–delimited columns). If you 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 ing to Applications Desktop Integrator. 10. If the row or column set has control values assigned, you can assign budgets, encumbrance types, and currencies to those values. 11. Save your work. 12. Choose Run Report.
3.6. Period Closing Sequence
GL Period end closing process: 1. of Subledger for GL interface. 2. Reconciliation with each Subledger. (See Section 3.1) 3. Run revaluation on all relevant s cash/bank foreign currency. For the period/year end sub-ledger closure, please refer to the Consolidated Systemwide Period Closing/Opening Manuals (for actual ing) and Year End Carry Forward Manuals (for encumbrance ing
NOTE: All sub-ledger transactions must be ed onto the GL interface and imported thereafter to GL. Reconciliation and adjustments should be carried out prior to final closure in General Ledger. ADDITIONAL NOTE: All corrections and adjustments to sub-ledger transactions should be carried out in the concerned sub-ledger
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GL04 BUDGETING
TRANSACTION NAVIGATION NATURE Budgets>Define 4.1. Creating >Budgets Budgets
TASKS 1. Enter a Name and Description for your budget. 2. The Require Budget Journals flag for your set of books, already be selected and cannot be changed. When you require budget journals, you can only use budget entry methods that create journals, namely budget journals, budget transfers, Mass Budgets, consolidation of budget balances, and the Applications Desktop Integrator’s Journal Wizard. Note: Budget journals maintain an audit trail for your budget balances. Other budget entry methods update budget balances directly. Note: When you use budgetary control, you must use budget journals to enter amounts in your funding budget (i.e., the budget you use to enforce budgetary control). 3. Enter the First and Last period for your budget. 4. Assign a Master Budget if you want to track your budget amounts against a control budget. You can choose any budget in your set of books that has the same period range. 5. To open the first fiscal year of your budget, choose Open Next Year. General Ledger launches a concurrent request to open the next year.
4.2. Creating Budget Organisatio ns
Budgets>Define > Organisation
1. Enter a Name and Description for your budget organization. • To define a new budget organization that includes only specific ranges of s, enter a unique name. • If you have one or more budget organizations defined already, you can create a budget organization named ”ALL” that automatically includes all s that are assigned to any budget organization. To do this, enter ”ALL” as the budget organization Name. 2. Enter the sort and display options. The Ordering Segment is the segment General Ledger uses to sort s when you review the budget organization assignments, and when you use the Enter Budget Amounts and Enter Budget Journals windows. Specify the Display Sequence for your segments. You can use this sequence to change the order of your segments on the Enter Budget Amounts and Enter Budget Journals windows. For each segment, enter a unique sequence number from 1 to n, where n is the number of segments in your . 3. Enter Effective From and To Dates if you want to set a specific range of time when you can use this budget organization. 4. Assign s to the budget organization. • To assign ranges of s to the budget organization, choose
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TASKS Ranges. • To copy ranges from an existing budget organization, choose AutoCopy. NOTE: If you are creating an ”ALL” budget organization, you do not need to assign s. 5. Save your work. General Ledger launches a concurrent process to assign the s. 6. After the concurrent process finishes, run the Budget Organization Listing to check your work
4.3. Entering Budget Journals
Journal Entry From Application Desktop Integrator (ADI)
To journal entries from a journal worksheet to the interface table: While viewing your journal worksheet, choose General Ledger from the ADI toolbar and select to Interface from the list of values. 2. Enter your Journal Options. 3. Choose OK to start the journal , or Cancel to abandon. For rows that do not successfully, the system provides an explanation in the Messages section of the journal worksheet. If you selected Show Success Indicator from the general options window, the system also displays status indicators in the Messages section for each journal line. 1.
To import journals from the interface table to General Ledger: Choose General Ledger from the ADI toolbar, select Submit Process and Journal Import.
1.
Additional Information: You can a journal worksheet more than once, effectively creating multiple journals from the same spreadsheet. 2. 3. 4.
Journals>Enter
Enter your Select Process Type options. Choose OK to submit your request, or Cancel to abandon. If the record you selected for import has journal lines with different ing dates, the system displays the range of ing dates included in your journal lines. To limit the lines imported, enter a different date range, then Choose OK.
To enter budget journals for a single : 1. Navigate to the Enter Budget Journals window. 2. Specify the Budget Organization for the to which you want to budget. If the budget organization is -protected, you must enter the before you can enter budget journals. 3. Enter the Budget you want to update. You cannot use a budget that is frozen. 4. Enter the range of ing Periods to which you want to budget. 5. Enter the Currency of the budget amounts you are entering. The s must be assigned to the budget organization for this
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TRANSACTION NAVIGATION NATURE
TASKS currency. 6. Choose Journal Mode from the region poplist to enter budget amounts in a journal format. You can also use Single Row Mode or Worksheet Mode to enter budget journal amounts. However, you can only generate budget journals from these entry modes when you use the Enter Budget Journals window.
Additional Information: When you use Journal Mode, Balance Type is a display–only field. It displays Budget when you are entering budget journals. In the Enter Journals Window, this field displays Actual when you are entering actual journals. 7. Enter or query the to which you want to budget. You can also switch to Worksheet Mode to easily query s, then return to Journal Mode to enter budget journals. 8. Enter a Debit or Credit amount for each period. Do not enter journal amounts if you want to use budget rules to calculate and distribute budget amounts. 9. Choose Create Journals to create a budget journal batch. If you are using budgetary control, you specify a funds action when you create the batch.
17
ORACLE FINANCIALS GUIDE International Institute of Tropical Agriculture
General Ledger Author: Creation Date: Last Updated: Control Number: Version:
Oracle Implementation Team October 22, 2001
ORACLE GL MANUAL
OUTLINE
1. GENERAL TRANSACTIONS 1.1. Creating New s or Cost Centres 1.2. Closing a Cost Centre or 1.3. Transferring balance of a closed cost centre 1.4. Defining Recurring Journals 2. DAILY TRANSACTIONS 2.1. Journal Entry 2.2. Entering journals in a foreign currency 2.3. Entering weekly currency rates 2.4. Importing journals from sub ledgers 2.5. Running the "Program Create Journals" 2.6. Posting journals 2.7. Creating reversal journal entries 3. CLOSING AND REPORTING 3.1. Reconciliation with sub ledgers 3.2. Running revaluation 3.3. Creating closing and opening journals 3.4. Creating the trial balance 3.5. Creating the balance sheets 3.6. Period closing process 4. BUDGETING 4.1. Creating budgets 4.2. Creating budget organisation 4.3. Entering budget journals (JE Screen and ADI)
Page 1 1 1 2 3 5 5 6 6 6 7 7 8 10 10 10 11 13 13 14 15 15 15 16
RULES FOR THE GENERAL LEDGER MODULE
General Ledger Module is the last checking point of all of the transactions generated throughout the system. General Rules 1. Errors which are made in the subledgers are not to be corrected in General Ledger. However, the s have to be warned by the person responsible for posting in GL and the the correct transaction has to be posted to GL again. Both the wrong and the correct entries will be posted in GL. 2. Run the program Create Journals daily to post the encumbrance amounts to GL. 3. Run GL Import daily to post the actual transactions to be posted to GL. 4. Post journals in GL daily.
System Required GL Entries & Adjustments FA Purchases and Sales 1. When the AP Accrual Acc will be changed to Asset Accrual, and posted, the AP Accrual 's balance need to be debited in GL with an adjustment journal (please refer to FA guide, Processes Section for the detail transactions) 2. An Encumbrance Journal to debit the related Asset Expense will be raised. 3. Fixed asset sales will be entered as a journal in GL Module, using the category 'FA Sales', where the related Bank/Cash is debited and Proceeds of Sales (5440.1122) is credited. GL01 GENERAL TRANSACTIONS
TRANSACTION NATURE 1.1. Creating A New Cost Centre Or
NAVIGATION
TASKS
Setup>Financials > Flexfields>Key> Values
1. Tick the Value Set button on the find Value Set Window 2. Enter IITA_COST_CENTRE or IITA_ in the name field. 3. Click Find 4. Press the “New Record” button on the tool bar to add the new record 5. Enter the appropriate value into the “Value” column 6. Enter the appropriate Cost Center/ details 7. Press tab 8. Check the “Enabled” checkbox 9. Save your work
1.2. Closing a Cost Centre or
Setup>Financials > Flexfields>Key> Values
1. Tick the Value Set button on the find Value Set Window 2. Enter IITA_COST_CENTRE or IITA_ in the name field. 3. Click Find
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TRANSACTION NAVIGATION NATURE
TASKS 4. Select the appropriate row containing the sought Cost Center/ 5. Uncheck the “Enabled” checkbox 6. Save your work
1.3. Transferrin g Balance Of A Closed Cost Centre
Setup>Other>Ma ss Maintenance
To move or merge balances: Note: Before closing the related cost centre, you should have moved the balance(s) in that cost centre to a new cost centre. 1. Enter a Request name and Description for your move/merge. (NAME290CT01-01) 2. Select Move/Merge as the Request Type. 3. Enter the Line number 10 for the source– to– target specification. 4. Enter a unique Source specification from which to move/ merge balances. You can also select your segment values from the list of values. Note: If you enter values for all of the segments, the must exist and must be enabled. If you enter values only for some of the segments, the values you enter must exist and be enabled. Additional Information: Choose the Segment Values button if you want to review your segment values. This will take you to the Segment Values window. Use the menus to return to the Mass Maintenance Workbench window. 5. Enter the Target specification to which you want to move/merge balances. You can also select your segment values from the list of values. Note: The format of the target specification must be the same as the format you use for the source . For example, if you enter values only for some of your source segments, you must enter values for the same segments of your target specification. If you enter a complete as your source, you must enter a complete for your target. Additional Information: Target s that do not exist will be created if they cross– validation checking. 6. Continue entering specifications until you are done. 7. (Optional) Choose the Prevalidate button to run the prevalidation process. Review the execution report and correct any errors before submitting the move/merge. Additional Information: Generally, you should prevalidate your specifications if you plan to run your move/merge unattended, such as overnight. The prevalidation process helps ensure that your move/merge request completes successfully. If you do not prevalidate, General Ledger will still validate your specifications when you submit the move/merge. 8. Save your work.
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TRANSACTION NAVIGATION NATURE
TASKS Submitting a Move/Merge Request 1. Navigate to the Mass Maintenance Workbench window. 2. Query the move/merge definition that you want to submit. 3. Choose the Submit button to start the move/merge process. 4. Review the Mass Maintenance Execution Report for any errors. If necessary, correct any errors then resubmit the move/merge request. 5. (Optional) Purge the interim move/merge tables that were created during the move/merge process. Caution: We recommend that you purge tables only after you have verified that the moved balances are correct. Once you purge the tables, you cannot reverse the move/merge Operation. To reverse a move/merge: 1. Navigate to the Mass Maintenance Workbench window. 2. Query the move/merge request that you want to reverse. 3. Choose the Reverse button.
1.4. Defining Recurring Journals
Journals>Define> Recurring
To create a recurring journal batch: 1. Navigate to the Define Recurring Journal Formula window. 2. Enter a Name (e.g. OVERHEADCALC_29OCT01.01) and optional Description for the recurring journal batch. 3. If you want to copy entries from an existing recurring journal batch to your new batch, choose AutoCopy Batch. 4. Create recurring journal entries for the batch. If you copied entries, modify them, if necessary. 5. Save your work. 6. Generate recurring journals. 7. Review and post your generated recurring journal batches. Suggestion: You can use Automatic Journal Scheduling to generate your recurring journals according to a specific schedule you define. To enter a recurring journal entry line: 1. Navigate to the Define Recurring Journal Formula window. 2. Enter or query the batch name and the journal entry name. 3. Choose Lines. 4. 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. 5. Enter the you want General Ledger to update when you generate and post your recurring journals to the line 6. Enter an optional Line Description for the recurring entry line. 7. Enter a Formula for the line. 8. Enter the remaining lines for the recurring journal entry. that you can use line number 9999 as the automatic offsetting line for each recurring journal entry. 9. Save your work. _ To create a skeleton journal entry: 1. Navigate to the Define Recurring Journal Formula window. 2. Enter or query the batch name and the journal entry name. 3. Choose Lines.
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TRANSACTION NAVIGATION NATURE
TASKS 4. Enter a Line number to set the order of your recurring journal entry lines. 5. Enter the you want General Ledger to update when you generate and post your recurring journals. Do not enter a formula. 6. Enter the remaining lines and s for the recurring journal entry. 7. Save your work.
Journals>Define> Recurring
_ To enter amounts for a skeleton entry: 1. In the “Define Recurring Journal Formula” window, search for the batch that you want to enter amounts. 2. Press “Generate” button to generate the recurring journal batch that contains your skeleton entry. 3. Edit the unposted journal batch using the Enter Journals window, and enter the journal line amounts. 4. Save the revised journals 5. Post the batch. (See Post Journals, page 9)
4
GL02
DAILY TRANSACTIONS
TRANSACTION NAVIGATION TASKS NATURE 2.1. Journal Entry Journals > Enter, 1. Navigate to the Enter Journals window. then choose New 2. Enter or query the batch for which you are entering journals. To enter a journal without entering batch information, choose New Journal and proceed to Step 4. • To enter journals for a new batch, choose New Batch and enter the batch information. • To add journals to an existing batch, query the batch and choose Review Batch. Note: The Status region on the Batch window will display the current statuses for Posting, Funds reservation, and journal Approval. 3. Choose Journals. 4. 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. If you did not enter a batch name before entering journals, General Ledger uses the name of the first journal in the batch to create a default batch name. 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. Note: If you enter a period prior to the current ing period and the profile option Journals: Enable Prior Period Notification is set to Yes, General Ledger displays a message indicating that you are entering a prior period journal. You must confirm that this is what you want to do. Additional Information: Balance Type is a display–only field. It displays Actual when you are entering actual journals and Budget when you are entering budget journals. 6. Accept or change the default Effective Date for the journal entry. This will be the GL date of your transaction 7. Change the Category to describe the purpose of your journal entry, (e.g. accrual, payments, adjustments etc.). All lines in a journal entry share the same journal category. 8. Enter an optional 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. 9. Enter a Control Total if you want to the total debits for the journal lines against the journal control total. 10. Accept the default Currency (the functional currency for your set of books), or change the journal currency to enter a foreign currency. (If the journal you enter is in a foreign currency, see Entering Journals in a Foreign Currency, page 7) 11. Choose More Details to enter optional reference information
5
TRANSACTION NATURE
NAVIGATION
TASKS about the journal entry in the More Details window. • (Optional) Enter a Reference description to further identify the journal entry on general ledger and journal entry reports. 1. Repeat the above process and choose the appropriate currency in the Currency field list of values.
2.2. Entering Journals in a Foreign Currency 2.3. Entering Weekly Currency Rates
Setup>Currencie s> Rates>Daily
To enter a single rate for a date range: 1. Navigate to the Daily Rates window. 2. Choose the Enter by Date Range button. The Enter Rates By Date Range window appears. 3. Enter the From– Currency — the currency you want to convert from using the rates you enter. You can choose any enabled currency except STAT. General Ledger automatically displays the functional currency for your set of books as the To– Currency — the currency to which you want to convert. 4. As needed, change the To– Currency. If you enter the same currency as your from– currency, you will receive an error. 5. Enter From Date and To Date to span your desired date range. 6. Enter the Conversion Date and choose “Corporate” as Type. When you use this date and rate type to enter journals, General Ledger automatically displays the rate you define here. 7. Enter the conversion rate you want General Ledger to use to convert your from– currency amounts into you to– currency equivalents. General Ledger automatically calculates the inverse of the rate and displays it in the adjacent column. • Enter a rate in the first column that converts your from– currency to your to– currency. This is the rate that you multiply your from– currency amount by to determine the to– currency equivalent. For example, to convert AUD to USD (Australian Dollars to U.S. Dollars), enter .7793 if the rate is .7793 U.S. dollars per Australian dollar. Note: If you run a query on a single rate that contains a range of dates, your query results list each date within your specified date range as a single row.
2.4. Importing Journals From Sub Ledgers
Journals>Import > Run
To import journal entries to General Ledger: 1. Navigate to the Import Journals window. 2. Enter the Source from which you want Journal Import to create journal entries. Choose one or more of the following Sources: • Assets • Inventory • Paypers • Payables • Purchasing • Receivables • Spreadsheet 3. You can import data for the same or different sources in parallel
6
TRANSACTION NATURE
NAVIGATION
TASKS 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. Caution: Do not specify more than 20 Source/Group ID combinations per import. Journal Import cannot process more than 20 Source/Group ID combinations at once. 4. Choose Import Descriptive Flexfields if you have any DFF on the transactions that you are importing from that source, and to import them with validation. (In most cases, Import DFF, No, With & Without Validation should be blank). 5. (Optional) Enter a Date Range to have General Ledger import only journals with ing dates in that range. If you do not specify a date range, General Ledger imports all journals data. 6. Choose Import to submit a concurrent process to import journals. General Ledger names the resulting batch as follows:
2.5. Running the Create Journals Program
Request
2.6. Posting Journals
Journals>Post
1. Navigate to the Run Requests window. 2. Select the Create Journals Program. 3. Enter the Minimum Save Time. This is the minimum number of hours that General Ledger waits before deleting funds checking details. Once these details are deleted, you cannot view them online or through reports. 4. In the Create Summary Journals field, enter Yes to summarize all activity for the same ing Flexfield within each journal entry in a batch into one debit and one credit journal line. 5. Enter the Run Options. You can set the Create Journal Program to run once, or you can set it to run at regular intervals. 6. Submit the request. To post journal batches: Navigate to the Post Journals window. Note: You can also post a journal batch by choosing the Post button from the More Actions window when you are entering or reviewing a journal entry. This will post the entire batch containing the journal you are entering or reviewing. 2. Query the journal Batch you want to post. You can also query all unposted journal batches. 1.
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TRANSACTION NATURE
NAVIGATION
TASKS
3.
4.
5. 6.
7.
2.7. Creating Reversal Journal Entries
Journals>Genera te> Reversal
You see the Batch name and the posting Period, as well as the Balance Type, indicating whether your batch affects Budget, Actual, or Encumbrance balances. Choose the Review Batch button to review the details of your journal batch. Review the Period Status and Post Status to determine if a batch is available for posting. You can post actual batches to open periods, budget batches to periods in an open budget year, and encumbrance batches to any period up to the last period in the latest open encumbrance year. (Optional) Check the Control Total for the journal entry batch, if you entered one. If the control total does not equal Total Entered Debits and Total Entered Credits, you cannot post the batch, unless you allow suspense posting. Select the journal batches you want to post by checking the box Next to each batch. Choose Post to submit a concurrent request to post the selected journal batches. If you are using budgetary control and have not approved a journal batch before posting, the Posting program will attempt to reserve funds and if successful, post the batch. If the funds reservation is unsuccessful, the Posting program will mark the batch with an appropriate error. After the concurrent process completes, review the Posting Execution Report to determine if there were any errors during posting.
To reverse a journal entry from the Enter Journals window when the journal entry has a defined reversal period and reversal method: 1. Navigate to the Enter Journals window. 2. Query the batch and journal within the batch that you want to reverse. 3. Choose Review Journal. 4. Choose More Details. 5. Choose Reverse Journal. General Ledger names the reversal batch Reverses [Original Journal Entry Name] [Date] [Time]. 6. Post the reversing journal batch. To reverse a journal entry that does not have a defined reversal period, effective date (average balances enabled), and reversal method: 1. Navigate to the Enter Journals window. 2. Query the batch and journal within the batch that you want to reverse. 3. Choose Review Journal. 4. Choose More Actions. 5. Choose Reverse Journal. 6. Select the Reversal Period. Choose OK, then select a reversal method for your journal: Switch Dr/Cr: General Ledger creates your reversing journal by switching the debit and credit amounts of the original journal entry.
8
TRANSACTION NATURE
NAVIGATION
TASKS 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. General Ledger will display your concurrent request ID. The reversal batch will be named Reverses [Original Journal Entry Name] [Date] [Time]. 8. Post the reversing journal batch. To reverse an entire journal batch: 1. 2. 3. 4. 5.
Navigate to the Enter Journals window. Query the batch you want to reverse. Choose Review Batch. Choose More Actions. Choose Reverse Batch to generate unposted reversal batches for each entry. If you did not assign a reversal period for one or more journal entries, General Ledger prompts you for a default reversal period 6. Choose OK, then enter a reversal method: 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. Use Defaults: General Ledger uses the reversal method assigned to the journal categories you used to create the journals in your batch. Once you choose a reversal method, General Ledger will submit concurrent requests to reverse the journals in your batch. 7. Post the reversing journal batches.
9
GL03 CLOSING AND REPORTING
TRANSACTION NAVIGATION NATURE 3.1. Reconciliati on With Sub Ledgers Currency> 3.2. Running Revaluation Revaluation
TASKS To be covered in a separate document
To revalue your balances: 1. Navigate to the Revalue Balances window. Note: As you complete the remaining steps, note that the Revalue Balances window may display various warning messages, depending on the selections you make, especially if either the currency you are revaluing or your functional currency has a currency derivation of Euro, EMU, or Interim EMU. If you receive a warning, review your entries carefully to make sure they are correct. 2. Enter the ing Period for the balances you want to revalue. 3. Enter the Unrealized Gain/Loss or Cumulative Translation Adjustment to record net gains and losses from the revaluation. The default is the you entered for the previous revaluation. 4. Choose one of the following Currency Options: Single Currency: to revalue a particular foreign currency. EURO+EMU: to revalue all currencies whose currency derivation is EURO, EMU, and Interim EMU. All Currencies: to revalue all foreign currencies. 5. If you choose to revalue a single currency, enter the Currency to use for the revaluation. Note: You must define a period-end rate for your selected ing period and currency before running revaluation. 6. If you choose to revalue a single currency, you may need to enter the Rate to use for the revaluation. 7. The Revalue Ranges region of the window automatically displays the GL number ranges last entered. You can use these existing numbers and proceed with the revaluation, or you can delete the record (Edit>Delete Record) and enter a new number range or ranges. Note: You can select balance sheet and income statement s. Balance sheet s are revalued in accordance with their year– to– date balances. Income statement s are revalued using either their period– to– date or year– to– date balances. 8. Choose Revalue. General Ledger launches a concurrent process to
10
TRANSACTION NAVIGATION NATURE
TASKS revalue your balances. The process names your revaluation batch in the following format: Revalue
3.3. Creating Year-End Closing And Opening Journals (For Income Statement And Balance Sheet)
Reports>Reques t> Standard (select needed report and submit)
To create income statement closing journals: 1. Navigate to the Submit Request window. 2. Choose to Submit a single request. The Submit Request Window appears. 3. In the Request Name field, select Close Process: Create Income Statement Closing Journals program. 4. Complete the following parameters: Period: General Ledger defaults with the latest open period. Typically, you specify an adjustment period that represents the last day of your fiscal year. From: Enter the starting range. To Range: Enter the ending range. The range can span multiple balancing segments and include your entire chart of s listing. General Ledger only extracts balances of revenue and expense s within the range you specify. Closing : specify a closing , the retained earnings on the balance sheet. Category: Income Statement Close automatically appears in this field. Note: If the closing is an within the range you specified, General Ledger ignores this when extracting balances. 5. Choose OK to close the Parameters window. 6. Submit the program. The process generates journal entries that you can view in the Enter Journals and Post Journals windows. The journal source, Closing Journals and the journal category, Income Statement, are assigned to this closing journal. You can specify different names in the Journal Sources and Journal Categories windows. (See Post Journals, page 9) 7. Post your generated closing journals to update balances before closing the period. To populate new fiscal year income statement s balances: 1. Navigate to the Open and Close Period window. General Ledger displays the Latest Open ing period. 2. Change the Latest Open ing period if necessary. 3. Choose the Open Next Period button. The Open Period program automatically transfers the Y–T–D income statement balances to Retained Earnings.
11
TRANSACTION NAVIGATION NATURE
TASKS
To create balance sheet closing journals: 1. Navigate to the Submit Request window. 2. Choose to Submit a Single Request. The Submit Request window appears. 3. In the Request Name field, select Close Process: Create Balance Sheet Closing Journals program. 4. Complete the following parameters: Period: General Ledger defaults with the latest open period. Typically, you specify an adjustment period that represents the last day of your fiscal year. From: Enter the starting range. To Range: Enter the ending range. The range can span multiple balancing segments and include your entire chart of s listing. General Ledger only extracts balance sheet balances within the range you specify. Closing : you must specify a balance sheet closing . Category: Balance Sheet Close appears automatically in this field. Note: If the balance sheet closing is within the range you specified, General Ledger ignores this when extracting balances. Choose OK to close the Parameters window. 5. Submit the program. The process generates journal entries that you can view in the Enter Journals and Post Journals windows. The journal source, Closing Journals and the journal category, Balance Sheet Close are assigned to this closing journal. You can specify different names in the Journal Sources and Journal Categories windows. 6. Post the generated closing journals to update balances before closing the period. (See Post Journals, page 9) To populate new fiscal year balance sheet s: 1. Navigate to the Open and Close period window. General Ledger displays the Latest Open ing period. 2. Change the Latest Open ing period if necessary to close the last period of the year. 3. Choose the Open Next Period button to open the new year. The Open Period program automatically transfers the Y–T–D income statement balances to Retained Earnings. 4. Navigate to Enter Journals. 5. Query the Balance Sheet closing journals you generated at the end of the year. 6. Reverse the closing journals in the first period of the new fiscal year. 7. Post the generated journals. The Open Period program automatically opens beginning balances for your balance sheet s. Note: Use the More Details button in the Enter Journals window to change the reversal period for journals in Average Balance Sets of Books.
12
TRANSACTION NATURE 3.4. Creating A Trial Balance (And Other Standard Reports)
NAVIGATION
TASKS
Reports > Request > Standard
To run a standard report, listing, or request set:
Other > Report > Run
Reports > 3.5. Creating The Balance Define > Report Sheet (And Other FSG Reports)
1. Navigate to the Submit Requests window. 2. Choose whether to run a request or request set, then choose the request or request set you want to run. 3. Enter the necessary request parameters. 4. Submit your request. 5. Review the status of your request. 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. Prerequisites • Define a row set. • Optionally, define column sets, row orders, content sets, and display sets. To define a financial report: 1. Navigate to the Define Financial Report window. 2. Enter a Name, report Title, and Description for your report. The report title is what FSG will print at the top of the report.
3. Enter the Row Set and Column Set to use for the report. 4. (Optional) Enter the Content Set, Row Order, and/or Display Set to use for the report. 5. (Optional) Enter Segment Override values for the 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. 6. (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. 7. (Optional) Select a Rounding Option to use for calculations in the report: Calculate Then Round: FSG performs calculations before any rounding. Round Then Calculate: FSG rounds values before they are used in calculations. 8. (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.
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TRANSACTION NAVIGATION NATURE
TASKS 9. Enter an Output Option for your report: Text: Produces a report in standard text form (no tab–delimited columns). If you 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 ing to Applications Desktop Integrator. 10. If the row or column set has control values assigned, you can assign budgets, encumbrance types, and currencies to those values. 11. Save your work. 12. Choose Run Report.
3.6. Period Closing Sequence
GL Period end closing process: 1. of Subledger for GL interface. 2. Reconciliation with each Subledger. (See Section 3.1) 3. Run revaluation on all relevant s cash/bank foreign currency. For the period/year end sub-ledger closure, please refer to the Consolidated Systemwide Period Closing/Opening Manuals (for actual ing) and Year End Carry Forward Manuals (for encumbrance ing
NOTE: All sub-ledger transactions must be ed onto the GL interface and imported thereafter to GL. Reconciliation and adjustments should be carried out prior to final closure in General Ledger. ADDITIONAL NOTE: All corrections and adjustments to sub-ledger transactions should be carried out in the concerned sub-ledger
14
GL04 BUDGETING
TRANSACTION NAVIGATION NATURE Budgets>Define 4.1. Creating >Budgets Budgets
TASKS 1. Enter a Name and Description for your budget. 2. The Require Budget Journals flag for your set of books, already be selected and cannot be changed. When you require budget journals, you can only use budget entry methods that create journals, namely budget journals, budget transfers, Mass Budgets, consolidation of budget balances, and the Applications Desktop Integrator’s Journal Wizard. Note: Budget journals maintain an audit trail for your budget balances. Other budget entry methods update budget balances directly. Note: When you use budgetary control, you must use budget journals to enter amounts in your funding budget (i.e., the budget you use to enforce budgetary control). 3. Enter the First and Last period for your budget. 4. Assign a Master Budget if you want to track your budget amounts against a control budget. You can choose any budget in your set of books that has the same period range. 5. To open the first fiscal year of your budget, choose Open Next Year. General Ledger launches a concurrent request to open the next year.
4.2. Creating Budget Organisatio ns
Budgets>Define > Organisation
1. Enter a Name and Description for your budget organization. • To define a new budget organization that includes only specific ranges of s, enter a unique name. • If you have one or more budget organizations defined already, you can create a budget organization named ”ALL” that automatically includes all s that are assigned to any budget organization. To do this, enter ”ALL” as the budget organization Name. 2. Enter the sort and display options. The Ordering Segment is the segment General Ledger uses to sort s when you review the budget organization assignments, and when you use the Enter Budget Amounts and Enter Budget Journals windows. Specify the Display Sequence for your segments. You can use this sequence to change the order of your segments on the Enter Budget Amounts and Enter Budget Journals windows. For each segment, enter a unique sequence number from 1 to n, where n is the number of segments in your . 3. Enter Effective From and To Dates if you want to set a specific range of time when you can use this budget organization. 4. Assign s to the budget organization. • To assign ranges of s to the budget organization, choose
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TRANSACTION NAVIGATION NATURE
TASKS Ranges. • To copy ranges from an existing budget organization, choose AutoCopy. NOTE: If you are creating an ”ALL” budget organization, you do not need to assign s. 5. Save your work. General Ledger launches a concurrent process to assign the s. 6. After the concurrent process finishes, run the Budget Organization Listing to check your work
4.3. Entering Budget Journals
Journal Entry From Application Desktop Integrator (ADI)
To journal entries from a journal worksheet to the interface table: While viewing your journal worksheet, choose General Ledger from the ADI toolbar and select to Interface from the list of values. 2. Enter your Journal Options. 3. Choose OK to start the journal , or Cancel to abandon. For rows that do not successfully, the system provides an explanation in the Messages section of the journal worksheet. If you selected Show Success Indicator from the general options window, the system also displays status indicators in the Messages section for each journal line. 1.
To import journals from the interface table to General Ledger: Choose General Ledger from the ADI toolbar, select Submit Process and Journal Import.
1.
Additional Information: You can a journal worksheet more than once, effectively creating multiple journals from the same spreadsheet. 2. 3. 4.
Journals>Enter
Enter your Select Process Type options. Choose OK to submit your request, or Cancel to abandon. If the record you selected for import has journal lines with different ing dates, the system displays the range of ing dates included in your journal lines. To limit the lines imported, enter a different date range, then Choose OK.
To enter budget journals for a single : 1. Navigate to the Enter Budget Journals window. 2. Specify the Budget Organization for the to which you want to budget. If the budget organization is -protected, you must enter the before you can enter budget journals. 3. Enter the Budget you want to update. You cannot use a budget that is frozen. 4. Enter the range of ing Periods to which you want to budget. 5. Enter the Currency of the budget amounts you are entering. The s must be assigned to the budget organization for this
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TRANSACTION NAVIGATION NATURE
TASKS currency. 6. Choose Journal Mode from the region poplist to enter budget amounts in a journal format. You can also use Single Row Mode or Worksheet Mode to enter budget journal amounts. However, you can only generate budget journals from these entry modes when you use the Enter Budget Journals window.
Additional Information: When you use Journal Mode, Balance Type is a display–only field. It displays Budget when you are entering budget journals. In the Enter Journals Window, this field displays Actual when you are entering actual journals. 7. Enter or query the to which you want to budget. You can also switch to Worksheet Mode to easily query s, then return to Journal Mode to enter budget journals. 8. Enter a Debit or Credit amount for each period. Do not enter journal amounts if you want to use budget rules to calculate and distribute budget amounts. 9. Choose Create Journals to create a budget journal batch. If you are using budgetary control, you specify a funds action when you create the batch.
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