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Implementing the Oracle Purchasing Receipt Accruals Period-End Process

Prepared by:

Jacqueline Camphor

Managing Director

Accentuals Consulting LLC

Session ID#: 10711

@accentualsco

About the Presenter

■ Honors Graduate of Langston University

▪ BBA, Accounting

▪ BS, Computer Science

■ Certified Public Accountant

■ Oracle Financials Consultant

■ Founder and Managing Director of Accentuals Consulting

■ Community Advocate

About Accentuals Consulting

■ Business process and technology solutions provider for finance and accounting

■ Oracle E-Business Suite: Financials

■ Oracle partner

■ Locations:

▪ Houston, Texas (headquarters)

▪ Dallas, Texas

■ City of Houston WBE/MBE/HHF certified

■ Texas HUB certified

Agenda

■ Setup of accounting defaults

■ Create purchase orders

■ Receive items

■ Run Uninvoiced Receipts Report

■ Close Payables

■ Submit the Receipt Accruals - Period-End process

■ Create accounting and transfer journal entries to the General Ledger

■ Manage Purchasing periods

Step 1: Setup of Accounting Defaults

■ Navigation path: Purchasing > Setup > Organizations > Purchasing Options

■ Receipt Accounting

▪ Accrue Expense Items = Period End

▪ Expense AP Accrual Account = 01-000-2220-0000-000

— Leverage SLA to derive balancing segment from PO charge account

Step 2: Create Purchase Orders

■ Navigation path: Purchasing > Purchase Orders > Purchase Orders

■ Create and approve PO

Step 3: Receive Items

■ Navigation path: Purchasing > Receiving > Receipts

■ Select Organization

■ Receive the correct quantity for the expense item(s)

Step 4: Run Uninvoiced Receipts Report

■ Navigation path: Purchasing > Requests

■ Goods and services received but not invoiced

■ Preliminary listing of uninvoiced receipts

Step 4: Run Uninvoiced Receipts Report

Step 5: Close Payables

■ Navigation path: Payables > Accounting > Control Payables Periods

■ Current Payables period must be closed before starting the Receipt Accruals process

Step 6: Submit the Receipt Accruals -Period-End Process

■ Note: current Purchasing and General Ledger periods must be open

■ Navigation path: Purchasing > Requests

■ Rerun Uninvoiced Receipts Report

▪ Accrued Receipts = No

■ Submit the Receipt Accruals - Period-End program

▪ Minimum Accrual Amount = 0

▪ Current Period

■ Rerun Uninvoiced Receipts Report

▪ Accrued Receipts = Yes

■ URRs ran before and after the Receipt Accruals - Period-End program should reconcile

Step 7: Create Accounting and Transfer Journal Entries to the General Ledger

■ Navigation path: Cost Management - SLA > Requests

■ Run Create Accounting - Receiving

▪ End Date = 1st day of next period or later

— End Date triggers reversing journal entries

Step 7: Create Accounting and Transfer Journal Entries to the General Ledger

■ If reversing journals do not generate, manually submit the Complete Multiperiod Accounting program

Step 7: Create Accounting and Transfer Journal Entries to the General Ledger

■ Reports derived from the Create Accounting - Receiving program may be used for reconciliation:

▪ Subledger Accounting Program Report (Create Accounting -

Receiving)

▪ Journal Import Execution Report (Journal Import)

▪ Subledger Multiperiod Accounting and Accrual Reversal Report

■ Imported uninvoiced receipt accruals may be viewed by querying the journals in the General Ledger:

▪ Navigation path: General Ledger > Journals > Enter

▪ Source = Cost Management

▪ Category = Accrual

▪ Period = Current (Accrual) / Next (Reversal)

Step 8: Manage Purchasing Periods

■ Navigation path: Purchasing > Setup > Financials > Accounting > Control Purchasing Periods

▪ Change current period status to Closed

▪ Set next purchasing period to Open (if applicable)

Questions?

Jacqueline Camphor

Managing Director

Accentuals Consulting LLC

jcamphor@accentualsco.com

accentualsco.com

@accentualsco

Session ID#: 10711

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