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Table of Contents 1. Purpose of the document 2
2. Assumptions and Prerequisites 2
3. Feature Specific Setup 3
Implementation 3
Assign Balancing Segment Values to Legal Entities (Optional) 4
4. Common Parameters 7
5. Other Parameters 8
6. Accounted Transactions in Subledgers 11
7. Submitting the Reports 12
Third Party Account Balance Report 12
Third Party Balances Summary Report 14
Third Party Detail and Balances Report 16
8. Report Headings 18
ERP CLOUD
Subledger Accounting Reporting Third Party Reports
Fusion Financials for EMEA
1. Purpose of the document
Companies require reports showing control account and third-party period balances as well as audit trail
details to the original third-party transactions impacting the account during a particular period. The
balances include period beginning balances, period activity and the resulting ending balances. This
allows users to reconcile subledger balances with General Ledger balances and monitor the accounting
process.
During the accounting process, you can run these reports to make sure that subledger and General
Ledger balances reconcile, and to identify possible reasons for any discrepancies (if any).
Detail reporting by Third Parties is also useful for auditors, and especially external auditors, as it allows
users to easily reconcile transactions accounted by the audited company with transactions accounted by
the Third Parties.
This document explains the implementation and usage guidelines for the following reports:
Third Party Detail And Balances Report
Third Party Balances Summary Report
Third Party Account Balance Report
2. Assumptions and Prerequisites
In this document, we will assume that the following entities have already been set up :
Data Security
Enterprise Structure
Accounting Configuration
Suppliers
Customers
Document sequences
Accounting and Reporting Sequences
Payables System Options
Procurement Business Function
Common Options for Payables and Receivables
Receivables System Options
Oracle recommends that the ‘Implementation Project’ is complete for your organization before
commencing the ‘Feature Specific Setup’ outlined below.
3. Feature Specific Setup
Implementation
For this document, we consider the implementation of a company with one ledger and two legal entities
associated to this ledger.
You can alternatively use any existing company structure as long as the prerequisite setup, which is
indicated in ‘Assumptions and Prerequisites’ section exists for these entities.
The examples in this document are based on a sample implementation that consists of a single primary
ledger and two legal entities:
Ledger: ES Vision SEQ3 ES
LE1: ES Vision SEQ LE1 - Spain
LE2: ES Vision SEQ LE2 – Spain
Assign Balancing Segment Values to Legal Entities (Optional)
To report based on legal entity, you run reports by the ‘Legal Entity’ parameter. Use of the legal entity
parameter requires you to associate balancing segment values to your legal entities.
Task name: Assign Balancing Segment Values to Legal Entities
Navigation : Navigator –> Setup and Maintenance -> Assign Balancing Segment Values to Legal Entities
Third-Party Control Accounts
Task name: Manage Value Sets
Navigation : Navigator –> Setup and Maintenance -> Manage Value Sets
You must complete this setup for the system to recognize the related subledger journals as third-party
accounting activity.
You should set accounts that capture liability for the suppliers as ‘Supplier Control Account’ and
accounts that hold receivables from the customers as ‘Customer Control Account’.
Following screenshots show two examples, for accounts payable and accounts receivable.
Supplier Control Account:
Customer Control Account:
Any new accounting combinations that use the accounts set up as above inherit the attributes.
However, if you have already created your account combinations with these account values before the
above setup, you must run ‘Inherit Segment Value Attributes’ process.
Navigation: Navigator –> Tools -> Scheduled Processes
4. Common Parameters Parameter Name Required Description
Application Name No Choose a subledger application, like ‘Payables’ or
leave blank to include all applications
Ledger Yes Select a ledger to view third-party accounting
activity. Ledger is a required parameter and
you can run the report for one ledger at a time.
Legal Entity No If you have associated your legal entities to the
balancing segments in your chart of accounts,
you can filter the accounting activity by legal
entity. If not entered, accounting activity will be
listed for all legal entities.
From Period Yes From Accounting Period
To Period Yes To Accounting Period
Journal Entry Source Yes You can run these reports for a single journal
entry source at a time. To report on supplier
activity, run the report using Payables and to
report on customer activity, run the report using
Receivables.
Third Party Type Yes Select supplier for payables and customer for
receivables.
Following screenshot shows the common submission parameters:
5. Other Parameters Parameter
Name
Required Default Description Third
Party
Account
Balance
Report
Third
Party
Balances
Summary
Report
Third
Party
Detail
and
Balances
Report
Third Party
Name
No N/A Specify a third party to
restrict the report to
that party only.
X √ √
From Third
Party Number
No N/A Specify from and to
third-party numbers to
restrict the report to a
third-party number
range.
X √ √
To Third Party
Number
No N/A
Include Draft
Activity
No ‘No’ Enter ‘Yes’ to print the
accounting in draft
status as well.
X √ √
Include Legal
Entity
Information
No Legal
entity
Due to your legal
reporting needs, you
can print different
report headings. Please
also refer to the section
titled ‘Report Headings’
in this document.
√ √ X
First Flexfield
Segment
Used
No N/A Use segment qualifiers
to show the account
combination as the
concatenation of 1 to 3
accounting flexfield
segments instead of the
full combination, which
is default. Leave these
parameters as blank to
see full account
combination in the
report.
√ √ √
Second
Flexfield
Segment
Used
No N/A
Third Flexfield
Segment
Used
No N/A
Parameter
Name
Required Default Description Third
Party
Account
Balance
Report
Third
Party
Balances
Summary
Report
Third
Party
Detail
and
Balances
Report
First Report
Sort
Yes Accounting
Date
Report data will first be
sorted using the First
Report Sort value and
then Second Report Sort
value will be used to
sort further and then
the Third Report Sort
will be used. Default
order is: (1) Accounting
Date, (2) Document
Sequence Name, (3)
Document Sequence
Number.
√ X √
Second
Report Sort
Yes Document
Sequence
Name
√ X √
Third Report
Sort
Yes Document
Sequence
Number
√ X X
First Page
Number
No 1 Enter an integer
number. if you leave
parameter value blank,
the page numbering will
start with page 1.
√ X X
Group by
Period
Yes Yes Enter ‘No’ to avoid
grouping by accounting
period.
√ √ X
Report
Heading
Yes Legal
Entity
Due to your legal
reporting needs, you
can print different
report headings. Please
also refer to the section
titled ‘Report Headings’
in this document.
Please also see Report
Headings section.
√ √ √
Third Party Account Balance Report
Third Party Balances Summary Report
Third Party Detail And Balances Report
6. Accounted Transactions in Subledgers
Enter transactions in Payables and Receivables. Account all transactions on which you need to report. If
online accounting is used , you need to make sure ‘Update Subledger Accounting Balances’ process is
submitted explicitly before running Third-Party reports.
A sample submission is shown below:
Navigation: Navigator –> Tools -> Scheduled Processes
This process updates subledger account balances which are used by third-party reporting of subledger
accounting. If you have accounted your transactions through submitting ‘Create Accounting’ program,
this process is automatically submitted after the accounting process. However, if you have accounted
your transactions online from Payables and Receivables transaction pages, you need to run the process
manually.
7. Submitting the Reports
Third Party Account Balance Report This report shows third-party balances and audit trail details to the original transactions for the
accounting periods in a selected range. The report helps you review the accounting process details by
third party, third-party site and third-party control accounts. Detail reporting by third parties is also
useful for external auditors as it allows you to easily reconcile transactions accounted by the audited
company with transactions accounted by the third parties.
Submission parameters are shown below:
Sample Output (Page1, Page 5):
Description for Balances:
Beginning Balance: Balance as at the beginning of the accounting period
Ending Balance: Balance as at the end of the accounting period (Beginning Balance + Period Activity)
Brought Forward: Totals from the previous page
Carry Forward: Totals that will carried forward to the next page
Third Party Balances Summary Report The report can be use as a tool to audit third-party accounts. Audit processes require users to know
third-party names and amounts, for validating such points as existence of the third party, consistency
with amounts accounted in general ledger and Third Party's books, etc. The following information is
commonly displayed for each account, Third Party and Third-Party site: Balances for all of the above :
Beginning, Period Activity and Ending.
Submission parameters are shown below:
Sample Output (Page 1):
Third Party Detail and Balances Report This report helps you review the accounting process details by third party, and audit third-party
accounts in detail. During the accounting process, you can run the report to make sure that subledger
and General Ledger balances reconcile, and to identify possible reasons for any discrepancies (if any).
Detail reporting by third parties is also useful for external auditors as it allows you to easily reconcile
transactions accounted by the audited company with transactions accounted by the third parties.
Submission parameters are shown below:
Sample Output (Page 5):
8. Report Headings
Use ‘Report Header’ parameter to display legal entity name or ledger name on each page heading of all
report pages. You can also use the parameter ‘Include Legal Entity Information’ for additional flexibility;
default is legal entity, if you change the value as legal establishment (Legal Reporting Unit) then the
page headings will show the legal reporting unit name instead of the legal entity name.
Some countries' auditors require you to include additional information on all report pages, so use if
required by your authority. (*)
(*) Currently, ‘Statutory Header for Italy’ is also available in the list of values of ‘Report Header’
parameter. If you select this value the report heading will print the following information at the page
heading:
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