Managing the General Ledger

The following guide is intended for a General Accounting Manager to manage failed journals, create account monitor/inquire and analyze balances, and process General Ledger accounting close.

• Manage Failed Journals
• Create Account Monitor/Inquire and Analyze Balances
• Process General Ledger Accounting Close

Terminology

• Journal: A journal records the accounting transactions for a ledger, including details about the accounts and amounts.
• Oracle Approver Actions:
  • Approve: When a task is approved, it completes or moves the requisition to the next applicable approver.
  • Reject: When a task is rejected, it is sent back to its original creator with comments on what needs to be adjusted.
  • Request Additional Information: Request additional information if it is needed to decide whether to approve or reject.
  • Claim: If you are part of an approval group, “claiming” a task means that you plan to act and others in the group will not.
  • Delegate: Re-assigning tasks to other users to act.
  • Route Task: Adding someone into the approval flow for a given transaction. Do not remove the approver.

 

• N/A

 

1. Sign into Oracle by selecting Company Single Sign-On.

2. Navigate and select the General Accounting module.
3. Select Journals.     

4. Select Import Errors.
5. Select the Process ID hyperlink (an ADFDI template will download).

Note: The ADFDI installation must be downloaded before running this process.

6. Select Yes to connect the ADFDI template to the User Interface URL.

7. Open the ADFDI template. Sign In by selecting Company Single Sign-On.

 

8. Select the Correct Journal Import Data tab.
9. Note the Import Error Code and Details.

Errors in Failed Journal:

Accounting Date Error: Accounting Date in rows 17 and 18 are not in an open or future enterable period.

Related Value Sets: Rows 19 and 20 are invalid Account Combinations. In this example, user is trying to input Organization 98000 with Entity 609, which is not an allowable combination.

Cross-Validation Rules Error: Rows 17 and 19 are invalid Account Combinations of Chart of Accounts segments. In this example, user is trying to use Balance Sheet Account (10100) with Purpose other than 010 – Balance Sheet.         

Debits and Credit Error: Rows 21 and 22 contain imbalanced debit and credit amounts.            

10. Select the Error Key tab.
11. Check the Import Error Code and Details with details in Error Key tab and correct the errors.

• For example: The most common error code is EF04. This error occurs when a Related Value Sets relationship or Cross-Validation Rule is violated. This could also be due to a value not existing within Oracle, which is unlikely due to the automated Chart of Account process.          

12. After Correcting the errors, select Upload.        

13. Change the Submission Option to Submit Journal Import and Posting. Keep all other defaults the same.
14. Select Submit.

15. Select OK to confirm your process has been submitted.         

16. Navigate back to the journal work area. Select Taskbar.
17. Select Manage Approvals.          

18. Verify your journal batch in the Pending Approval from Others section.  

You have now completed the process of Managing Failed Journals.

 

1. Log in using Company Single Sign-on (SSO).

2. Navigate to the home page and select General Accounting.
3. Select General Accounting Dashboard.         

4. Under Account Monitor, select Account Group, and then Create.

5. Enter Name, keep option Display in Account Monitor, and uncheck Set as Default.
6. Leave Accounting Period and Comparison Option as default values.

7. Change Access to Shared.
8. Under Accounts select “+” to add Account Group information. Enter Name, select Ledger, and all the Chart of Account (COA) segments.

9. Scroll to the right and see the Change and Threshold options.

Note: Select from the various dropdown under Change.

10. Select the dropdown and select Save and Close.       

11. Under Account Monitor, select View, Account Group, and then select the Account Monitor that you created.

12. Change the Accounting Period to current Oct-23 to see recently created activity.          

13. Scroll to the right and click into the hyperlinked balance amount under the Accounting Period you selected.          

14. The Inquire on Detail Balances page is displayed.

15. Scroll to the bottom and then to right of the page to see the Beginning Balance, Period Activity, and the Ending Balance in Summary for each COA string.          

16. Click into the hyperlinked Period Activity amount to view into the detail line amounts for a specific COA string.

17. Notice the Source and Category information.
18. Select the hyperlink Journal name under the Journal heading.

19. View Journal and then select Cancel to get out of the journal screen.

 

20. Return to the General Accounting Dashboard work area. Under the Account Monitor, update the Accounting Period.  

21. Select one of the hyperlinked segment values under the Account Monitor you created.

Note: Values will only be hyperlinked if they are “All [Segment] Values.”    

22. View the Inquire and Analyze Balances for “All Organization Value” for the segment line.
23. Select Done.

24. Under Account Monitor, select Account Group, and then select Manage. 

25. Highlight your Account Group row, then select Share above the search bars.        

26. Under the Assigned User section, select “+.”     

27. Use the User Login field to find the user you want to share the Account Monitor.

28. Select Done in the Share Accounts Group page.

29. Return to the General Accounting Dashboard and select the Taskbar.
30. Under Inquiry and Reporting select Inquire and Analyze Balances.       

31. View all the Account Balances.    

You have now completed the process of Create Account Monitor/Inquire and Analyze Balance.

 

1. Log in using Company Single Sign-on (SSO).             

2. Navigate and select the General Accounting module.
3. Select Period Close.         

4. Prior to General Ledger close, view the Period Close statuses of each module using the Close Status dashboard.

Using Receivables as an example:

• Apr-24 shows as future enterable (pencil icon); transactions can be created in this period, but not posted.

• Mar-24 and Feb-24 are open (paper icon) which means transactions can be created and posted in this period.
• Jan-24 is closed (green box icon) which means transactions cannot be created or posted in this period.    

5. Review dashboard for Outstanding Subledger Transactions.
6. Enter Accounting Period and Source and press the refresh icon to view outstanding transactions.
7. Optionally click into icons showing a yellow yield sign to view unaccounted or errored transactions in the UI.

8. Run Subledger Period Close Exceptions Report to see full list of Subledger Exceptions.           

9. Navigate and view the Subledger Period Close Exceptions Report.

1. Navigate to Scheduled Processes.
2. Click into the process line to access the output.

3. Select the Republish icon.

4. Select the Cog Wheel icon, Export and PDF to export the Subledger Period Close Exceptions Report.     

10. Work with Process Area Period Close owners to fix and/or process outstanding transactions, if required.

Status Definitions:

• Unprocessed = new transactions or transactions that have outstanding approvals.
• Draft = for transactions in which Create Accounting was run in Draft mode, instead of Final.
• Invalid / Invalid related entry = errored transactions. Could be related to Subledger Accounting Rule failure.          

11. Navigate to the Journals work area to view outstanding General Ledger activity. 

12. View journals under Requiring Attention; failure to resolve in the current accounting period will prevent General Ledger period closure.

Notes:

• Rejected journals are due to failing auto-workflow rules; these need to be corrected and resent by their initiator.
• All other issues may require coordination with the Oracle Solutions team, and are likely setup related.     

13. View journals under Incomplete. Incomplete journals have not been formally completed and submitted for approval. Failure to complete and approve incomplete journals in the current accounting period will prevent General Ledger period closure.

 

14. View journals under Import Errors. Journals with import errors could originate from integrated systems, such as Workday or AIS and including PCM allocations. To clear these import errors it may be required to work with Source System owners and the Oracle Solutions team. Please refer to the managed failed journal business process for additional information.

 

15. Ensure all transactions are imported from systems integrating to the General Ledger, including Workday and AIS, for the period being closed.

Note: These integrations are scheduled at a regular cadence. In this step confirm all journals were received.

16. Review Actuals Allocations imported from PCM. Work with PCM owner to fix import errors, if required.

17. Ensure Payables, Projects, Receivables, and Assets close activities are complete by verifying their Closed status in the dashboard.  

18. For Cash Management, Purchasing, and Lease Accounting which do not have a formal close icon, verify via the Subledger Period Close Exceptions Report that they are free of errors (refer to previous steps for navigation).

19. Ensure approvals have been completed for the current accounting period. View the transactions requiring your approval and approval from others using the Bell icon. This will include GL and Subledgers transactions.
20. Alternatively navigate to Manage Approvals to view or approve journals specific just to the General Ledger. Failure to approve all journals in the current accounting period will prevent General Ledger period closure.    

21. Verify there are no unposted journals for the period being closed via the Journal Transactions Report.

1. Navigate to Oracle Central Finance Reporting Hub.

2. Click the General Ledger Report Links.

3. Search for posting status Unposted and enter Accounting Date.

22. Return to the UI and post these transactions. Journals may be unposted due to incomplete workflow approval.

Note: You may have to return to this step iteratively if all journals have not been approved.           

23. Create Accrual and Adjustment Journals as needed.

Note: Refer to approval steps and posting steps as needed.

24. Run AutoPost Journals to post all unposted journals created during the close process. This will also be scheduled to automatically run on a regular basis.          

25. Navigate back to the Period Close dashboard to update General Ledger period statuses; select General Ledger.

26. Highlight the current month’s Accounting Period and select Close Period. Verify the status icon changes to closed (green box icon).

27. Select the next month’s Accounting Period.
28. Select Open Period.
29. Select the Refresh icon.   

30. Verify the newly opened and future enterable period.

Note: You may begin to reconcile the General Ledger balances for key balance sheet accounts.

You have now completed the process of Processing General Ledger Accounting Close.