PeopleSoft

AccountReconciliation

Agenda

GL overview

What is PeopleSoft Account Reconciliation?

Benefits of Using PeopleSoft Account Reconciliation

Setting Up PeopleSoft Account Reconciliation

Reconciliation Configurations

Reconciliation Attributes

Reconciliation Roles

Reconciliation Rule

Reconciliation Sets

Reconciliation Assignments

Reviewing Account Reconciliations on the Workbench

Create Reconciliation

Calculate Balances

Q&A

GL Overview

What is PeopleSoft Account

Reconciliation?

PeopleSoft's Account Reconciliation is a flexible tool used to

configure and manage the account reconciliation process. It
streamlines and accelerates the reconciliation of accounts to
be performed for each accounting period so that
organizations can provide supporting documentation to
external auditors as well as identify and correct errors in a
timely manner in preparation of monthly financials.

The Account Reconciliation Tool can be used to reconcile

accounts between subsystems and the General Ledger or for
verification and compliance, ensuring that all the individual
transactions are recorded correctly and have proper
supporting documentation

Benefits of Using PeopleSoft

Account Reconciliation
The PeopleSoft Account Reconciliation functionality enables you
to:

Easily identify specific ChartField value combinations to be

reconciled

Assign reconciliation responsibility to an individual or group of

ChartField owners

Allow each user to have high visibility into their assigned

reconciliation

Automate sign-off to indicate that a ChartField value

combination has been reconciled

Capture and retain documentation associated with the

reconciliation

Define and use approval workflow throughout the process to

notify users of reconciliation responsibility

Reconciliation process flow

High level Process flow of Account Reconciliation

Setting Up PeopleSoft Account

Reconciliation

Configure account reconciliations. Using the Configuration

components, define the parameters and criteria to be used
in establishing the Reconciliation Rules. Configuration
should be done before Reconciliation Rules are set up and
before reconciliation processes are performed.

Create or update Reconciliation Rules that define the

ChartField values to be reconciled as well as assign default
responsibility for performing and approving the
reconciliations.

Create the Reconciliation Set where you can group

Reconciliation Rules specify the level of ledger balance
summarization that is appropriate for each rule.

Setting Up PeopleSoft Account

Reconciliation(Contd..)

Run the Create Reconciliations process to create

account reconciliations for a specified period,
establishing default reconcilers, owners, reviewers,
and approvers for each reconciliation.

Review the Reconciliation Assignments page and

update the assignments, as necessary.

(Optional) Create ad-hoc reconciliations, as needed, to

supplement those created by the Create
Reconciliations process.

Use the Reconciliation Workbench to search for

reconciliations, document activities, attach supporting
documents, and submit and approve reconciliations.

Reconciliation Configurations
The configuration components provide you the flexibility to
specify what information should be part of the Reconciliation
Rules. Configuration should be done before Reconciliation
Rules are set up and before reconciliation processes are
performed.

Define account reconciliation attributes.

Define reconciliation roles.

Define and update reconciliation rules.

Define assignment levels.

Configure reconciliation statuses and status change reasons.

Configure security (workbench access).

Reconciliation attributes
Use the Account Reconciliation Rule Attributes page
(FIN_ATTRIBUTES) to define the attributes to be used in the
reconciliation rule, such as risk, reconciliation type, and
whether they are required.

Reconciliation Roles

Use the Reconciliation Roles page (GLRN_CONFIG_USRFNC)

to define the user roles to be assigned for each reconciliation
process.

Reconciliation Rule
Use the Reconciliation Rule - Rule Options page
(GLRN_RECON_RULE) to define the parameters to be used
for a reconciliation, which includes ledgers and ChartField
values as well as default options for the rule.

Assignment Level

The Define Assignment Levels page allows you to define how

ledger balances are summarized for each reconciliation that is
created. For each Assignment Level required to support your
reconciliation process, define the combination of fields and level
of summarization for each field. This is done by specifying
whether a separate reconciliation should be created for each
detail value of a particular ChartField or group of detail values
based on a tree node.

Use the Define Assignment Levels page (GLRN_UNIT_OF_RECON)

to define an Assignment Level for each type of summarization
required by ChartField combinations that you are reconciling
each period.

Reconciliation Statuses and Reasons

Use the Reconciliation Statuses and Reasons page

(GLRN_STATUS) to configure reconciliation statuses and
status change reasons.

Security-Access Control
Use the Security Access Control page
(GLRN_SEC_STATUS) to configure Workbench access at the
Reconciliation Role level.

Reconciliation Sets
Use the Reconciliation Set page (GLRN_RECON_SET) to define
the parameters for creating one or several account
reconciliations.

Create Reconciliation
Use the Create Reconciliations page (GLRN_CREATEUOW_REQ)
to run the process that creates each reconciliation as defined in
the specified Reconciliation Sets.

Reconciliation Assignments

Initial assignments are created by running the Create Reconciliations

process. This process uses the As of Date that you supply to retrieve
the active Reconciliation Rules, determines the ChartFields to be
reconciled, and assigns default users to the enabled roles
(reconcilers, owners, reviewers, approvers, and so on) for the
reconciliations.

Use the Reconciliation Assignment page (GLRN_ASSGN) to update

the default assignments as necessary. When the assignment for
Reconciler is saved or applied, the Status for that reconciliation
becomesNewly Assigned.

Calculate Balances
The Calculate Balances process (GLRN_CALC) calculates the
ledger account balances for the reconciliation and updates the
GLRN_RECON_TBL. The reconciler then uses the balances, among
other documents, to work on the account reconciliation. The
ledger balances for a reconciliation are calculated initially when
you run the Create Reconciliation process. If you need to update
the balances after creating the reconciliation, you can use this
run control page to recalculate.

Reviewing Account Reconciliations

on the Workbench
Use the reconciliation workbench to perform the following.

Search For Reconciliations

Update Reconciliations

Reconciliation Workbench Action Security

Reconciliation Approval

Retention of Reconciliations

Q&A