General Ledger & Intercompany

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  • Sigrid Buitelaar
    Using reporting currencies with month-end exchange rate2
    Topic posted November 4, 2019 by Sigrid BuitelaarGold Medal: 3,500+ Points, tagged Financials, General Ledger, Period Close / Reconciliation 
    Title:
    Using reporting currencies with month-end exchange rate
    Summary:
    Using reporting currencies with month-end exchange rate
    Content:

    Hi there

    Customer has a reporting currency with currency conversion level ' journal'  and with error handling set at 'report error'. This would imply for an error to be reported in case of a missing conversion rate.

    Customer's primary ledger is in EUR and one of the reporting currencies is USD. We are now noticing that when an EUR transaction is entered in the EUR ledger, on a day when no EUR to USD exchange rate excists, the transaction is not even posted in the EUR ledger despite of the fact that the conversion EUR to USD would only be required for posting the reporting currency. 

    Is this indended functionality? Wouldn't the conversion level 'journal' mean that one subledger transaction would create 2 separate journals, one in primary leger and one in reporting currency? 

    The company has the business requirement to inquire on detailed (subledger) transactions in reporting currency, however the actual exchange rate is not available until monthend. To enable detailed inquiry the choice was made to use a reporting currency. If the transactions would be posted throughout the month in the PL and only once a month, but with detail, in reporting currency, this would suffice. What would be another way to achieve this result?

     

    Version:
    13 19C
  • Janelle Azimullah
    Populating the "Reconciliation Reference" field...Answered2
    Topic posted October 31, 2019 by Janelle AzimullahGold Trophy: 10,000+ Points, tagged Configuration, Financials, General Ledger, Period Close / Reconciliation, Setup / Administration, Subledger Accounting, Tip 
    Title:
    Populating the "Reconciliation Reference" field from Subledger
    Content:

    I want to explore using the Reconciliation Reference to reconcile payroll costs using the Reconcile Clearing Accounts feature. 

    This will require me to populate the "Reconciliation Reference" field in the General Ledger entries created by the Subledger Accounting engine. The Reconciliation Reference would need to present in the Journal Line for the reconciliation process to work. 

    Has anyone achieved this and would you be able to provide guidance on how you achieved this? 

    Version:
    R13 19C
    Image:
  • ERPNewbie
    Canceling Intercompany related transactions1
    Topic posted October 21, 2019 by ERPNewbieRed Ribbon: 250+ Points, tagged Accounting Hub Cloud Service, Cash Management, Financials, Help Center, Intercompany, Payables, Period Close / Reconciliation, Receivables, Subledger Accounting 
    Title:
    Canceling Intercompany related transactions
    Summary:
    is it possible to cancel Intercompany invoices/payment without reversing them via intercompany processes?
    Content:

    There's an incorrect intercompany transaction that was wrongly entered into the system. 

    Would it be possible to just cancel the related transactions (AP invoice and payment, AR invoice and payment) and not reverse the intercompany transactions?

    If yes will it have any negative impact on the ledger/reconciliation? Thanks so much

  • Raghavender V
    How to assign tasks and trigger mails or start conversations...1
    Topic posted October 18, 2019 by Raghavender V, tagged General Ledger, Period Close / Reconciliation 
    Title:
    How to assign tasks and trigger mails or start conversations with users from Close Monitor?
    Summary:
    How to assign tasks and trigger mails or start conversations with users from Period Close Monitor?
    Content:

    Hi

    As part of improving the financials close time frames in our place, we are looking for a functionality of assigning tasks to individuals and tracking their progress. Though i see Close Monitor as a feature in ERP Financials (even in 19D), it just gives the option to check the close statuses of all sub ledgers there but does not

    - look for the exceptions if any in closing the periods

    - allow us to send mails to responsible persons etc.

    Has anyone used this feature to extend further to improvise the same. Any inputs in this regard are very helpful.

     

    On the other hand, i see, some of these features are available in Financials Consolidation and Close Service (FCCS). Has any one used this to automate the close process?

     

    Thanks

    Raghav

  • Anish Saini
    Different accounted amounts for a foreign journal in Primary...4
    Topic posted October 11, 2019 by Anish Saini, tagged Configuration, Financials, General Ledger, Period Close / Reconciliation 
    Title:
    Different accounted amounts for a foreign journal in Primary Vs Secondary Ledger
    Summary:
    Different accounted amounts for a foreign journal in Primary Vs Secondary Ledger
    Content:

    Hello All,

    I have a Singapore primary ledger (SGD_Functional_Ledger)  and secondary ledger (SGD_IFRS_Ledger) with the same COA,accounting method,accounting calender & currency (SGD). A foreign currency journal (USD) is entered into primary ledger on 1st October using the exchange rate (USD-->SGD) of 2. The primary ledger journal got posted/approved on 6th October and got copied over to secondary ledger (because of primary to secondary mapping) and got posted the same date. The secondary journal picked up the exchange rate (USd-->SGD i.e. 2.5) of 6th October.

    Now the entered amount (USD) is same (as expected) for both the journals but accounted amounts are different for primary and secondary ledger journals (as shown in screenshot).

    In SAP world, the journal would always pick the posting date from primary ledger and use the same for secondary journal. It seems like Oracle is using the journal creation date to populate the exchange rate used for calculating accounted amounts. I have checked all the setups but haven't come across anything to do with currency/conversion for secondary ledgers. Any help would be appreciated.

     

    Thanks,

    Anish

    Image:
  • Tausif Mulla
    How to reconcile between subledger and GL ?1
    Topic posted September 23, 2019 by Tausif MullaBronze Medal: 1,250+ Points, tagged Accounting Hub Cloud Service, Allocations, Configuration, Financials, General Ledger, Help Center, Payables, Period Close / Reconciliation, Receivables, Sample Reports, Search, Setup / Administration, Subledger Accounting, Tip 
    Title:
    How to reconcile between subledger and GL ?
    Summary:
    How to reconcile between subledger and GL ?
    Content:

    Hi,

    We are using AHCS (ASL) through which entries will be posted in GL. As part of reconciliation, we would like to reconcile between subledger (ASL) and GL. We would like to confirm and cross check what data lies in ASL and what data is posted in GL. This is to make sure all the data in subledger (ASL) gets posted to GL.

    Which two reports can ensure this through a proper reconciliation between subledger (ASL) and GL ? Our requirement is to compare amount by amount seperately in subledger and seperately in GL.

    We found the below reports:

    1. Account analysis by legal entity report

    2. General ledger and subleger Accounting by Journal lines report

    3. General ledger and subledger Account Analysis Report

    4. Subledger Detail Journal Report.

  • Sandeep Kumar
    Ledger in AED and BANK in USD (Difference amount...Answered75.0
    Topic posted September 22, 2019 by Sandeep KumarSilver Medal: 2,000+ Points, tagged Cash Management, Financials, General Ledger, Payables, Period Close / Reconciliation, Setup / Administration, Subledger Accounting 
    Title:
    Ledger in AED and BANK in USD (Difference amount end)
    Content:

    We have Ledger in AED Currency and Bank Account is in USD, Now month-end, when we translate the balances and Match closing balance of BANK and Translated Ledger (USD), Is not matching, is this because translation is happening on Closing balances (Functional Currency) and convert in USD on Period End Closing rate

    Now Can I achieve to match the GL USD Closing Balance with USD bank account closing balance

  • Thomas Paul
    Manual Journal to the RE Account3
    Topic posted September 18, 2019 by Thomas PaulBronze Medal: 1,250+ Points, tagged Financials, General Ledger, Period Close / Reconciliation, Setup / Administration 
    Title:
    Manual Journal to the RE Account
    Summary:
    Any implication for booking manual entries to the RE Account
    Content:

    Hi,

    Is there any implication of booking manual journal entries directly to the Retained Earnings Account. This is needed for closing out a branch during the year.

    Thanks.

    THomas

  • Veerendra Chava
    How can we restrict the particular user to run the create...2
    Topic posted September 10, 2019 by Veerendra ChavaSilver Medal: 2,000+ Points, tagged Financials, General Ledger, Period Close / Reconciliation, Security, Setup / Administration, Subledger Accounting 
    Title:
    How can we restrict the particular user to run the create accounting for particular Module i.e Payable,Receivable, FAH Sources
    Summary:
    How can we restrict the particular user to run the create accounting for particular Module i.e Payable,Receivable, FAH Sources
    Content:

    Create accounting program can be accessed for Manage journals work area. But in the application parameter we are able to select all the Modules/Sources.

    Is there any option to restrict the same

  • Anil Nair
    GL:Ledger Design5
    Topic posted August 8, 2019 by Anil NairBronze Medal: 1,250+ Points, tagged Accounting Hub Cloud Service, Allocations, Assets, Cash Management, Expenses, Financials, General Ledger, Payables, Period Close / Reconciliation, Reports, Setup / Administration, Subledger Accounting 
    Title:
    GL:Ledger Design
    Summary:
    GL: Ledger Design
    Content:

    How to consolidate 4 ledgers into 2 ledgers what are some of the considerations and risks?

    For data migration, how can we consolidate the balances from 4 ledgers to 2 ledgers?

    What is the impact on integrations to GL and to subledgers?