FA to GL Reconciliation

Reporting – Reconciling

Reporting – ReconcilingAssets to General Ledger

(Oracle EBS – Assets)

High-Level Overview

Asset Reconciliation Theory Asset to General Ledger Reconciliation

– Asset Reports

– General Ledger Reports

Reconciliation Process

Asset to General Ledger Reconciliation Reports

Asset to General Ledger Reconciliation Reports– Asset Cost

– CIP Cost– Accumulated Depreciation

– Depreciation Expense

Asset Detail Extract

Asset ReconciliationTheory

Theory

Asset Reconciliation Theory

Oracle Assets uses a top-down, pyramid approach to reconciling assets. This approachallows you to reconcile without having to generate transaction detail reports.

Asset Reconciliation Theory

Assets will be reconciled to the General Ledger at the Summary Level. If and only ifthere is a reconciliation issue the Detail Level would be used. If the Detail Level does notreconcile, then the Transaction Level would be used.

Summary Reports (Reports by Cost Center and Account): Cost Summary

CIP Summary

Reserve Summary

Detail Reports (Reports by Cost Center, Account, and Asset): Cost Detail CIP Detail

Reserve Detail

Assets to General LedgerReconciliation

Reconciliation

Assets to General Ledger Reconciliation

General Ledger Setups to Reduce Reconciliation Errors:

1. Freeze Asset Journals

2. Security – Do not allow access to Asset Accounts

Set Validation Set to allow security rules

Set Segment to allow security rules

Define security rules

Assign security rules Test security rules

1. Freeze Asset Journals

2. Security – Do not allow access to Asset Accounts Set Validation Set to allow security rules

2. Security – Do not allow access to Asset Accounts Set Segment to allow security rules

2. Security – Do not allow access to Asset Accounts Define security rules

2. Security – Do not allow access to Asset Accounts Assign security rules

2. Security – Do not allow access to Asset Accounts Test security rules

Asset Reports used in Reconciliation:

Summary Reports (Reports by Cost Center and Account): Cost Summary CIP Summary

Reserve Summary

Detail Reports (Reports by Cost Center, Account, and Asset):

Cost Detail

CIP Detail

Reserve Detail

Transaction Reports: Additions

Cost Adjustment

Retirements

Reclassification Transfer

Reserve Adjustments Asset Reconciliation Reserve Ledger

Journal Entry Reserve Ledger

CIP Capitalization CIP Assets

General Ledger Reports used in Reconciliation:

Reports: Trial Balance Trial Balance - Detail

General Ledger – (132 Char)

Reconciliation Process Includes the following steps:1. Generate Summary Reports from Oracle Assets

Cost Summary Report

Reserve Summary Report CIP Summary Report

2. Generate Reports from Oracle General Ledger

Trial Balance Report (include all accounts) OR

Trial Balance – Detail Report (include all accounts) OR

General Ledger (132 Char) Report (determine accounts to show on report)

Account Range for Asset Cost

Account Range for Asset Reserve

Account Range for Asset Depreciation Expense Account Range for CIP Cost

3. Match reports to reconcile

Manually Tick and Tie Download into Excel (use v-lookup or other formulas)

4. If needed – Run lower level reports from Oracle Assets to assist in any variances between Oracle Assets and OracleGeneral Ledger

Reconciliation Asset Cost:

Reconciliation Asset Clearing:

Reconciliation Asset Reserve:

Reconciliation Asset Depreciation Expense (Month):

Reconciliation Asset Depreciation Expense (YTD):

Reconciliation CIP Cost:

Reconciliation CIP Clearing:

Oracle Seeded Reports:

AutomatedReconciliation Process

Automated Reconciliation Process

Eliminate the tying out of Oracle Assets to Oracle General Ledger – add a top level to theOracle Reporting top-down / pyramid theory:

Generate Reports that capture Oracle Assets balances and compares them to the OracleGeneral Ledger balances and identifies variances:

Oracle FA to GL Reconciliation Reports: Asset Clearing Asset Cost

Asset Reserve

CIP Clearing

CIP Cost Depreciation Expense (Monthly)

Depreciation Expense (YTD)

Oracle FA to Oracle GL Reconciliation Asset Clearing Report

Oracle FA to Oracle GL Reconciliation Asset Cost Report

Oracle FA to Oracle GL Reconciliation Asset Reserve Report

Oracle FA to Oracle GL Reconciliation CIP Clearing Report

Oracle FA to Oracle GL Reconciliation CIP Cost Report

Oracle FA to Oracle GL Reconciliation Asset Depreciation Expense (Month) Report

Oracle FA to Oracle GL Reconciliation Asset Depreciation Expense (YTD) Report

Reconciliation Process Includes the following steps:1. Generate Automated Reconciliation Reports from Oracle Assets

Oracle FA to Oracle General Ledger Asset Cost Reconciliation Report

Oracle FA to Oracle General Ledger Asset Clearing Reconciliation Report (If needed – depends on setups) Oracle FA to Oracle General Ledger CIP Cost Reconciliation Report (If needed – depends on setups)

Oracle FA to Oracle General Ledger CIP Clearing Reconciliation Report (If needed – depends on setups)

Oracle FA to Oracle General Ledger Asset Reserve Reconciliation Report

Oracle FA to Oracle General Ledger Asset Depreciation Expense (Month) Reconciliation Report

Oracle FA to Oracle General Ledger Asset Depreciation Expense (YTD) Reconciliation Report

2. If needed – Run lower level reports from Oracle Assets to assist in any variances between Oracle Assets and OracleGeneral Ledger

Questions?

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