D96139GC10 Les11

11
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Configuring Period Close

Components
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Objectives
After completing this lesson, you should be able to:

Open and close periods.
Allocate balances.
Manage revaluations.
Run translations.
Import journal entries.
Reconcile balances.
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Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 2

Overview
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After creating s fer structures and ledger, perform the accounting process that
athyournenterprise
Bh transactions
imports n - tra for subledger and posts the balances in the General Ledger. Use the
nosteps:
following
1. Open an accounting period.
2. Enter subledger transactions.
3. Run the Create Accounting process and transfer the journals to the GL_Interface table.
4. Import journals into the general ledger.
5. Post your journal batches manually or automatically. Posting populates the GL Balance
Cube and the GL_Balances table.
6. Produce financial reports and perform online inquiries to review current account
balances.
7. Close the current accounting period.
8. Open the next accounting period.

Open and Close Periods Life Cycle
Open and close periods for multiple ledgers in a ledger set in a

single submission.
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Accounting
fe through a life cycle:
aperiodsnsmove
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1. Future
tra
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2. Open
3. Closed
4. Permanently Closed

Accounting Period Statuses
Accounting Period Statuses

Open: Open to enter and post journals.
Closed: Close after finishing your month-end processing.

Permanently Closed: Permanently close before archiving
data.
Future Enterable: Use to enter and import journals before
opening the next periods.
Never Opened: Use to indicate new periods. a
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Accounting
B
non process and can confuse users entering journals.
Open: An unlimited number of periods can be opened, but doing so may slow the
posting
Closed: Reopen closed periods before you can post journals.
Permanently Closed: Permanently closed periods cannot be reopened.
Future Enterable: Journal cannot be posted in a Future Enterable period. Specify a
numerical value in the Specify Ledger Options page to permit entering journals but not
posting them in future periods. You can change the number of Future Enterable periods
at any time.
Never Opened: The application sets all new periods to Never Opened until you change
the status.

Accounting Periods: Overview
Open the first period of the ledger when you are ready to transact
in one of these ways:
1. Navigate to: Setup and Maintenance > Define Ledger > Open
First Period. Click the Submit button to launch the open period
process.
2. Use the Close Status region in the General Accounting
dashboard.
3. Access the Manage Accounting Periods task in the Period a
Close work area. h a s
m )
4. Run the process in the Process Monitoring work o de
carea,uiwhich
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provides a framework for launching, monitoring,
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maintaining processes across Oracle
e
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The Closer s fe provides real-time visibility into the period close process from your
aStatus nregion
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subledgers ra General Ledger across the entire enterprise.
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Period Close with Oracle Financials
Manage period close better with various monitors to gauge

different aspects of the period close:
Feature Benefit
Close Status Monitor High level period status information for GL
and subledger in different formats.
Subledger Outstanding Summarized outstanding subledger
Transactions Monitor transactions by category with drill to details.
Translation Status Monitor Alert users to out-of-date translations by
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balancing segment value and translation
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currency. om e
Intercompany Period Status p tbyGu
Concise recap of periodhstatus
ec id
r@ dtype
intercompany transaction
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Additionalr a nsfe
features:
Bh nStatus
Close - tra Monitor: Provides insights on close readiness along with quick access to
no the period status.
update
Subledger Outstanding Transactions Monitor: Promotes efficiency for tying up loose
ends that impact accuracy and completeness of accounting close.
Translation Status Monitor: Quickly highlights if translated data is available and
current.
Intercompany Period Status: Further streamlines with optional sweep of unconcluded
transactions to future period.

Period Close Section
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Navigate to: Close
B
nontoClose
The Period
subledgers
section provides real-time visibility into the period close process from your
your General Ledger across the entire enterprise.
Single Ledger View
Focus on a single ledgers period status by Oracle Fusion General Ledger and the
subledger for the period.
View details for partially closed subledger periods.
Review subledger business units and asset books for the ledger.
Drill down to period status details of that ledger for all periods.
Navigate conveniently to submit open and close period processes after status review for
General Ledger and subledgers.
Ledger Set View
Summary view of period status across multiple ledgers in a ledger set.
Matrix of General Ledger and subledger period status for each ledger.

Period Close Best Practices
Period Close Item Period Close Tool
Ensure that all transactions for the period are Journals and
transferred and posted to the General Ledger. Intercompany

Transactions Infolets
Tie out Payables and Receivables subledger AP and AR Reconciliation
balances to the General Ledger. Infolets
All intercompany transactions for the period Intercompany
have been transferred, and both sender and Transactions Infolets
receiver have accounted for their side of the
transaction.
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Outstanding journal entries for the period are a
)h
Journals Infolet
resolved before closing the period. m
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Translated balances are current before running
@ hp nStatus
Translation
t G Portlet
final reports on translated balances.
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Subledger periods are closed before proceeding
y S Status Monitor,
to close the General Ledger period.ed d h
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Practice 11-1 Overview: Opening the First Accounting
Period
This practice covers the following topics:
Selecting your data access set.
Opening the period.
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Period Close Checklist
Transfer and import data from other sources.

Confirm that transactions imported from other sources have
completely made their way into the General Ledger.

Verify all journals are posted.
Perform allocations.
Revalue foreign currency balances.
Reconcile account balances.
Translate balances to parents currency using period endas
a
and
historical rates. m )h
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Consolidate subsidiary ledgers.
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Run reports and perform financial analysis.
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Close the period and open the y -
next
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Best practice s feto develop a comprehensive period close checklist that includes
BhFusion
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Applications.

Period Close Components
While implementing your accounting configuration, optionally

define and maintain the period close components to complete
your accounting configurations setup.

Period close components include the following tasks under the
Define Period Close Components task list:
Manage Allocations and Periodic Entries
Manage Revaluations
Manage Historical Rates a
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The Mange
t r a n Rates task includes the Daily Rates tab. Daily rates are also needed for
B n- and translation processes.
the revaluation
n o
Note: Define Period Close components also include the Manage Close Monitor Setup. The
Close Monitor setup is comprised of a ledger set hierarchy definition whereby a predefined
ledger set is addressed, with each ledger and ledger set assigned a manager who is
responsible for its financial close, and a logo to represent the entity in the display.

Allocation Concepts
Use the following components during allocation rule design:

Source: Cost or revenue pool which is allocated.
Basis: Formula to distribute the amounts.

Target: Receiver of the allocated or calculated amount.
Offset: Receiver for the offsetting debit or credit to balance the
generated allocation or formula.
Validation: Checks the validity of the allocation definition.
Scenario: Dimension for classifying balances data. s a
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Run Time Prompt: Variable where the user supplies c mthe
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when an allocation rule is run. hpe Gu
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Source: s fe or accounts used by the computation in a formula component. Can
a Thenamount
h a referenced
Bbe - tra account balance or it can just be a user defined amount.
n
no Formula used to define how the amounts in the source pool are to be divided
Basis:
among the target lines.
Target: Can be a group of accounts represented by a parent.
Offset: Can be a group of accounts.
Validation: Checks for consistency against the outline of the balances cube it
references. The process does not confirm that balances are available to be allocated.
Scenario: Examples: Actual, Budget, Forecast1, and Forecast2. Use one of two specific
seeded scenarios for step down allocations:
- Allocated: Temporarily holds the allocated values during the rule generation
process
- Total for Allocations: The sum of Actual and Allocated amounts.
Run Time Prompt: A user-defined element used at the time of the rule definition and
makes the rule highly dynamic and reusable. Examples of Run Time Prompts are
Accounting Period or Primary Balancing Segment Value.

Allocation Components
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Calculation
t r a n provides an automated solution to flexibly distribute revenues and costs
B
across the n -
enterprise or to record formulaic recurring adjustments. Define rules to generate
no journals.
formula-based
The graphic above shows the components of allocation rules:
Allocation: Define the account values used to derive the source, target, allocation
range, basis and offset.
Formula: Define the calculation that allocates the source to the target and offset
accounts.
Point of View: Define the dimension values that point the allocation to the correct
ledger, balancing segment value, accounting period, balance type and currency.

Defining Allocation Requirements
Complex formula definitions

Optimally design formulas in a graphical environment with
Allocation Wizard.
Real time check of rule definitions to validate rules.
Minimize setup and maintenance time with reusable formula
components.
Use combinations of available mathematical operators to
achieve complex calculations.
a
Combine formula components to build complex allocations.as )h
Enhanced allocation formula scope and longevitycom e
p e u idare
Use the same allocation rules for similar allocations
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@
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different accounting periods or with other
u m t u de
Leverage hierarchy versioning y k parent
-with i s S account values in
formulas. e d
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*Otherhvariables
fe run time prompts for accounting period, balancing segment
nsinclude
B ledgers,
values, - and user-defined variables, which add flexibility to your allocation rules.
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Generation of Allocations
Leverage preaggregated multidimensional balances to

maximize efficiency in executing complex calculations.
Integration of allocation generation mechanism with enterprise

scheduler with flexibility of generating immediately or in the
future.
Seamless process from generation to posting to reversal of
allocation.
Creation of rule sets to achieve multi-step cascading a
allocations. a s
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o irules.
de
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Audit trail for allocated amounts with well-documented
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Cross Ledger Intercompany Allocations
Define a rule to allocate across ledgers by specifying a ledger set

in the Allocation Range. Any number of ledgers can be included in
a single allocation formula.

Submit the Generate Intercompany Allocations process if you
require intercompany transactions or invoicing for your
allocations.
Submit the Generate General Ledger Allocations process if
you only need allocation journals generated. a
a
Ensure that the ledgers are within a ledger set when allocating
s
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across different ledgers.
e co uide
Define intercompany balancing rules that hpbenused
can
@ t G for
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a tudefor cross-
generating receivables and payables u m accounts
ledger allocations or allocations
d y -k his S to the
transferred
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intercompany module. thre use
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s e
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a
Use one of
h -tra n for generating journals.
B
non in a single ledger or across different ledgers in a ledger set. If the allocation is
Generate General Ledger Allocations: Allows you to create journals to allocate
amounts
across multiple ledgers, each ledgers journals are balanced using the Intercompany
balancing rules.
Generate Intercompany Allocations: Allows you to create intercompany transactions
from allocation lines for a single or multiple ledgers. The intercompany transaction type
you select when submitting the process determines if manual approvals and invoicing
are required for the intercompany transactions created from the allocation.

Step Down Allocation: Example One
Use Only Allocated Amounts

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In thishexample, n allocate only the $100 that was allocated to 1A ($70) and 1B ($30), not
B -
the actual amounts in each: 1A ($700) and 1B ($60).
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Step Down Allocation: Example Two
Using Actual and Allocated Amounts

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In thishexample, n allocate not only the $100 that was allocated to 1A ($70) and 1B ($30),
B - amounts in each: 1A ($700) and 1B ($60) for a total of:
but also thenactual
n o
$770 for 1A ($700 actuals plus $70 allocated)
2Aa $550
2Ab $220
$90 for 1B ($60 actuals plus $30 allocated)

2Ba $75
2B1 $15

Allocation Rule Concepts
Use rules in the Calculation Manager to group calculations.

Design a rule by dragging components from the Rule Palette
area to the flow chart.

Each component performs a separate task.
Add Point of View, Formula, or Allocation components.
Use rule validation to store rules and rule sets in the
Calculation Manager database and to validate them against
sa
the dimension metadata. The validation process ensures that:
a
All members are valid for the dimensions within them )h
application.
All functions exist, have the correct number ofe co uide and
parameters,
are valid for the application type. @ hp nt G
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Allocation Rule Deployment
Use rule deployment to deploy allocation rules before you

generate them from the Allocation Generation page.
Rules do not exist for generation until they are successfully

deployed.
Deploy rules from the Validate and Deploy button on the
toolbar.
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Allocations: Best Practices
Implementation Question Recommendations and Best Practices
How do I avoid invalid Validate the rules and rule sets during definition
definitions? time and fix the errors.
How do I automate the Use the enterprise scheduler to schedule the

allocation generation generation of allocation definition at the optimal
process? time.
Select the option to automatically post the
generated allocation and formula journals.
Leverage reversal criteria sets if there are
requirements to reverse the allocation journals
in the future.
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Can I use Calculation a
For fully reciprocating eliminations, use ah(-1)
) balance
Manager to generate
c o m
multiplier against the source elimination
e
elimination entries for to compute the target elimination
peuset G i
balance.
u d
consolidations? h
For other types of eliminations, formulas
a r@ operators
d e n
k u m Stu
applying the required math and
d d y- as townership
variables such
h is percentages to
re the elimination
compute
th to us
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Indicate
h athe
t r a naccount for the source and target if you wish to eliminate the source
B n-
balance directly.
n o
The following are limitations in Oracle Fusion General Ledger:
Allocation rules cannot be shared across rule sets in Calculation Manager.
Within a rule or rule set, the same target or offset cannot be written to by multiple rule
components.
When generating allocation rules with run time prompts other than the User Point of
View in an allocation rule component, an error occurs.

Practice 11-2 Overview: Creating and Generating an
Allocation Rule
Creating an Allocation Rule.
Creating a new value.

Creating two journals to use as the source and the basis.
Creating an allocation rule.
Generating an Allocation.
Generating an allocation journal.
Using the Post Allocation option. s a
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Reviewing your journal. m
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Revaluation Overview
Process of adjusting the accounted value of foreign currency

denominated balances according to current conversion rates.
Revaluations:
Represent the difference in the value of the balance due to
changes in conversion rates between the date of the original
journal entry and the revaluation date.
Post as adjustments through journal entries to the underlying
account with the offset posted to an unrealized gain or loss a
account. h a s
m )
Are offset in journal entries: c o de
Debits against an offsetting credit to the@ hp nt G
unrealized gain
e ui
account.
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Credits against an offsettingddebit i s
account. r e d se t
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Note:h the sfe is specified in the Unrealized Gain Account and Unrealized Loss
rasameanaccount
B fields,
Account n - trthe net of the adjustments is derived and posted.
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Translation Overview
Process of converting accounted balances from one currency to

another target currency.
Run translation after you have completed all journal entries for
an accounting period and run revaluation.
Retranslate if you post additional journal entries or change
your translation rates after running translation for a period.
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Revaluation n s fe are used to support multicurrency financial accounting
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Revaluation and Translation Concepts
Concept Description
Revaluation Definition Reusable rules that define how to

generate a revaluation.
Rate Type A category of conversion rates that
identifies which rates are used by the
revaluation and translation processes.
Daily Rates Currency exchange rates that are
used by the revaluation and
translation processes. s a
h a
Historical Rates/Amounts Currency exchange ratesm or)amounts
c o accounts
that are assigned to specific d e
peusedt G i
h
of a ledger that are byuthe
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translationaprocess.
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Revaluation s fe
a nDefinition: Includes which accounts to revalue, for which entered
h -trapplying
Bcurrency, a rates of what rate type and the debit and credit offset accounts to use
non
against the revaluation adjustment.
Daily Rates: Each rate is characterized by a from-currency, to-currency, rate type, and
date.
Historical Rates and Amounts: The historical rate or amount assigned to an account
overrides the period end or period average rate that would normally be used to translate
the account.
Note: A frequent misunderstanding s that the system comes up with the periodic average rate
automatically (based on the daily rates entered for the whole period). Actually you must enter
the average rate for the period.

Revaluation and Translation Setup
Navigate to the following highlighted tasks to perform your

revaluation and translation configuration.
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The Currency Manager is the tool that covers all these setups, including rate types.
B
on Balances and Translate Balances from the Period Close work area's task panel.
Run Revalue
n
Note: The Translation Period is treated as first ever translated period if no translation has
previously submitted for that ledger to that target currency. Whereas, if translation has already
previously submitted, then the translation period is treated as a translate-up-to-this-period
parameter.

Revaluation Process
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Prerequisites
Bh- nDefine
- tra an unrealized gain/loss account.
n- o Define a period end rate type and create a period end rate for each currency if
required.
Running Revaluation
- Revaluation is run at the end of each accounting period as part of the close
process to revalue balance sheet accounts that are denominated in a foreign
currency in accordance with SFAS 52 (US).
- The journal is then reversed at the beginning of the next period.
- The process is repeated until the transactions are settled.
- The Realized Gain/Loss is recorded in the appropriate subledger and transferred
to the Oracle Fusion General Ledger at the time the obligation is settled.
Currencies
- Revaluation can be run for a single foreign currency or for all currencies.
- When you run revaluation, General Ledger creates a revaluation batch containing
a separate journal entry for each revalued foreign currency.

Note: This is only an illustration with unsettled Receivables foreign currency denominated
balances. Similar process may be run for unsettled Payables foreign currency denominated
balances as well.
Note: General Ledger creates the revaluation adjustments in your ledger currency. General
Ledger will automatically define the reversal period for your Revaluation Journals if the
Category has been set to automatically reverse.
Average Balance Ledgers
- When you revalue balances in an average balance ledger, General Ledger only
revalues actual balances.
- When you post the revaluation journal entries to update your standard balances,
the system recalculates your average balances automatically.
Reporting Currencies: Under the SFAS 52 remeasurement, the temporal method
translation, it is necessary to remeasure foreign currency gains or losses recorded in your
primary ledger currency and recorded them in the reporting ledger currency.
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Revaluation Example
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At thehend
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accounting period, the revaluation process creates an unposted journal to
B
record the n - in the converted balances to the Unrealized Gain/Loss Account. The
change
journalnisoposted, and then reversed at the beginning of the next reporting period. In this
example:
The original journal entry in Euro remains the same.
At period end, the exchange rate has changed to 1.2885.
The receivable is still 10,000 Euro, but is now $12,885 US Dollars.
The offset of $100 is recorded in the Unrealized Gain account.

Practice 11-3 Overview: Creating a Revaluation

Defining a revaluation.
Generating your revaluation.

Verifying your journal entry.
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Translation Process
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Running r a nsfe
Translation
Bh n-tryour
Restates
a
ledger currency account balances into a reporting currency.

no
Translates actual balances from ledger currency to other currencies for online inquiries,
reports, and consolidations.
Supports multiple balancing segments for the Retained Earnings and Cumulative
Translation Adjustment accounts.
Is done after you have completed all journal entries and revaluations for an accounting
period.
Note: If you post additional journal entries or change your translation rates after running
translation for a period, you must retranslate.

Translation and Remeasurement Solutions
Translation:
Converts the general ledger balances from the ledger
currency to a reporting currency.

Used if investing overseas to convert net equity.
Remeasurement:
Restates an entire ledger or balances for a company from the
ledger currency to another currency.
Uses historical rates for non-monetary items. s a
h
) ofa
Records the cumulative translation adjustment asopart m profit

c i d e
or loss. h pe t Gu
r@ dno
If the other currency is the reporting currency,
a e n translation is
umafter
-krun
required. If not, then translationyis S u
tremeasurement.
d dis th
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More h ara transf
information:
B n- Currency: Currency used on a transaction.
Transaction

no
Accounting Currency: Currency used to account for the transaction in the general
ledger.
Ledger Currency: Currency of the ledger.
Reporting Currency: Currency that general ledger balances are translated into.
Both methods use period to average rate type for Income Statements.

Historical Rates and Amounts
Weighted average rate for transactions that occur at different

times.
Used to present balances in the reporting currency according

to the historical rates applicable to the account activities that
make up the account balance.
Can stabilize the translated balances by defining fixed
historical rates for long-term accounts.
Used with highly inflationary currencies to remeasure specific a
historical account balances in accordance with United) States
h a s
m
Financial Accounting Standards Board 8. co depe t Gui
h
a r@ den
- k um Stu
e d dy this
t h r u se
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t h R ra
a
Historical r
rates
fe are:
a andnsamounts
Bh nprecise
More - tra than period end rates for equity accounts.

no
Defined before running translation to avoid having to retranslate your balances.
A positive value treated as a credit amount since historical rates and amounts are often
associated with equity accounts.

Import Journal Entries: Overview
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Transfer s
h -traprocess. The GL_INTERFACE table from the subledgers using the Create
BAccounting Journal Import process pulls the information from the Interface
nonto create valid, postable journal entries in Oracle Fusion General Ledger.
table
Initiate the Create Accounting process from Oracle Fusion subledgers, such as Oracle
Fusion Payables or Oracle Fusion Receivables.
Choose to transfer and post in the General Ledger. If you do not choose to transfer to
the General Ledger from the subledger, then you must run the Transfer Journal Entries
to GL separately in the subledgers.
The Journal Import process loads the data from the GL_INTERFACE table into the
journal tables of General Ledger.
Import data from non-Oracle feeder systems from the GL_INTERFACE table.
Journal information can be transferred in detail or summary.

Journal Import Verification Process
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Journal a
h -tran
Import
B
non
Validates all of your data, before it creates journal entries in Oracle Fusion General
Ledger.
Assigns balances to the suspense account to balance the entry if you allow suspense
posting for your general ledger.
Replaces disabled accounts with alternate accounts if the alternate account is set up on
the Manage Account Combination page.
Rejects all other invalid lines and they remain in GL_INTERFACE table.
Prints your error lines in the Journal Import Execution report.

Journal Import Validates
Account combinations.
Unbalanced journal entries.
Accounting periods.
Foreign currency errors.
Other miscellaneous items.
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aBefore
h a
Important:
t r a nclosing your general ledger, verify that all journal entries have been
B
imported from- the GL_Interface table. If not, troubleshoot the remaining entries.
non

Reconciliation
Reconcile account balances online or through reports using

integrated inquiry, reporting, and analysis tools.
Drill down from account balances to journals and underlying

subledger transactions through a single drill path.
Run predefined standard reports to help reconcile account
balances, such as subledger to general ledger reconciliation,
intercompany reconciliation, trial balance, journals, and
account analysis reports.
Use the Journal, AP, and AR Recondition infolets. ) ha
sa
c om ide
h pe t Gu
Reconciliation of subledgers tom ar@
the d
General
tu
e n Ledger
- k u S
ensures integritydof
d y this data.
financial
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e dd ble l
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The Oracle
aFinancials
n s feenables you to quickly reconcile your General Ledger to these
Bh n-tra
subledgers.
nosubledger transactions must be accounted and posted to the General Ledger as a
The
prerequisite to the reconciliation process.
The posting process updates the General Ledger balances after which reconciliation
reports can be run to start the reconciliation process.
Comprehensive Account Analysis reports include beginning and ending account balances
along with all journal entries that constitute the accounts activities, and contain source,
category, and references, which are fully documented to easily trace back to the origin of the
balance.

Reconciliation
Drill from the transferred balances in the target ledger to source

ledger journal balances.
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s f er
Navigate
h a to:
t r a n Reporting Center > Vision Corporate Consolidated Balance Sheet >
B
Click on a UK - balance > Drill to Account Inspector > Click on the Corporate balance link >
Click on onPeriod
nthe Activity in the Inquire Detail Balances page > Click on the Debit amount in
the Journal Lines page.
You can easily reconcile balances that were transferred to a target ledger to the balances,
journals, and subledger transactions from the source ledgers.
Drill from the Entered amount, which resulted from a balance on the Journal Lines page
or the Journals page in the target ledger.
Analyze details such as the accounting period and accounts used in the source ledger
for transferring journal line amounts to the target ledger.
Considerations
If the source and the target ledgers do not share a ledger currency, the source ledger is
translated to the target ledger's ledger currency before balances can be transferred. The
balance transfer drill down shows the reporting currency balances for the source ledger in the
target ledger currency as part of the drill path.

Reconciliation Concepts
Reconciliation Solution
Requirement
Subledger to General Receivables to Ledger Reconciliation and

Ledger reconciliation Payables to Ledger Reconciliation Reports:
reports to match Streamline reconciliation respectively from
Accounts Payable and Receivables and Payables to General Ledger.
Accounts Receivable Automatically match subledger transactions to
transaction entries to accounting entries to accelerate the
General Ledger reconciliation and close processes.
accounting entries. Identify exceptions to guide your reconciliationa
efforts. h a s
) m
Drilldown to originating Direct drilldown to supporting journals
c oand ide
transactions. h pe tot source
transactions is provided for visibility G u
information. ar@ den
Reconciling high data Analyze report y
um S
-k hinias spreadsheet
output
tu
d
volume.
red
environment. et
r a th to us
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r h sfer
atsubledger
h a
The specific
t r a n to ledger reconciliation reports are designed for the automatic
B
similar n on- process and therefore not available for editing. It is straightforward to create
reconciliation
reports.
Note: To view chart of accounts segments and the corresponding Essbase cube dimensions
in OTBI Reports such as Receivables to Ledger Reconciliation and Payables to Ledger
Reconciliation reports, you need to set up the Chart of Accounts segments, enable them for
BI Reporting, and map the chart of accounts and cubes in the BI Repository.
Refer to Oracle Fusion Transactional Business Intelligence Administrator's Guide for more
detailed setup steps.

Payables Tax Reconciliation with General Ledger
Report
Reconcile the Payables tax transactions with the tax account
balances in General Ledger.
Create the report for a specific journal entry source, ledger,

legal entity, or General Ledger account.
s a
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Select a m
co uide
specific e
reporting
@ hp nt G
level.
m ar tude
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atPayables
Use the
h a
new
t r a n Tax Reconciliation with General Ledger Report to reconcile the
B
Payables tax -transactions with the tax account balances in General Ledger. You can also
onreconciliation
simplifynthe process by running the report for a specific Journal Entry Source,
Ledger, Legal entity or General Ledger account.
Note: Create a separate tax account for each tax rate code to simplify the reconciliation.

Summary
In this lesson, you should have learned how to:

Open and close periods.
Allocate balances.
Manage revaluations.
Run translations.
Import journal entries.
Reconcile balances.
s a
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) a
o m
p e c uide
@ h nt G
r
a tude
u m
d y -k his S
r e d se t
a r ath e to u
e dd ble l
t h R ra
a r a nsfe
Bh n-tra
no

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11

Configuring Period Close

After completing this lesson, you should be able to:

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 2

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 3

Open and close periods for multiple ledgers in a ledger set in a

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 4

Accounting Period Statuses

Closed: Close after finishing your month-end processing.

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 5

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 6

Manage period close better with various monitors to gauge

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 7

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 8

transferred and posted to the General Ledger. Intercompany

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 9

Opening the period.

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 10

Transfer and import data from other sources.

completely made their way into the General Ledger.

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 11

While implementing your accounting configuration, optionally

your accounting configurations setup.

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 12

Use the following components during allocation rule design:

Basis: Formula to distribute the amounts.

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 13

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 14

Complex formula definitions

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 15

Leverage preaggregated multidimensional balances to

Integration of allocation generation mechanism with enterprise

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 16

Define a rule to allocate across ledgers by specifying a ledger set

a single allocation formula.

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 17

Use Only Allocated Amounts

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 18

Using Actual and Allocated Amounts

$90 for 1B ($60 actuals plus $30 allocated)

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 19

Use rules in the Calculation Manager to group calculations.

area to the flow chart.

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 20

Use rule deployment to deploy allocation rules before you

Rules do not exist for generation until they are successfully

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 21

How do I automate the Use the enterprise scheduler to schedule the

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 22

Creating a new value.

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 23

Process of adjusting the accounted value of foreign currency

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 24

Process of converting accounted balances from one currency to

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 25

Revaluation Definition Reusable rules that define how to

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 26

Navigate to the following highlighted tasks to perform your

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 27

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 28

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 29

Oracle Financials Cloud: Enterprise Structures with General Ledger Implementation 11 - 30

This practice covers the following topics: