Go Live Criteria
January 2010
Version: 1.0
Approvals
Name
Position
Signature
Date
Approved by:
Approved by:
1
Document Control
Change Record
Date
Change
Originator
Version
Description of change
Reviewed by
Date
Name
Position
Reviewed by:
Reviewed by:
Distribution
Copy No.
Name
Location
Related Documents
Document Reference
Related Document Names
2
Issues for this Deliverable
Open Issues
ID
Issue
Resolution
Responsibility
Target
Date
Impact
Date
Issue
Resolution
Responsibility
Target
Date
Impact
Date
Closed Issues
ID
3
Contents
Document Control ....................................................................................................................................... 2
Issues for this Deliverable .......................................................................................................................... 3
Contents ........................................................................................................................................................ 4
1
Objective .............................................................................................................................................. 5
2
Getting Started.................................................................................................................................... 6
2.1
Pre-requisites ............................................................................................................................. 6
2.2
First steps ................................................................................................................................... 6
3
Inception Data Loading ..................................................................................................................... 8
3.1
General Ledger - Inception Loading ...................................................................................... 8
3.2
Accounts Payables - Inception Loading ................................................................................ 8
3.3
Accounts Receivables - Inception Loading ........................................................................... 8
3.4
Fixed Assets - Inception Loading ........................................................................................... 8
3.5
Inception Stage Criteria Success Check List ......................................................................... 8
3.6
Verification Procedure for General Ledger Trial Balance ..................................................11
3.6.1
Exporting the Trial Balance to excel .................................................................................11
3.6.2
System report on trial balance ...........................................................................................15
3.7
Verification Procedure for General Ledger Stock Ledger Summary ................................19
3.7.1
Exporting the Stock Ledger to excel ................................................................................19
3.7.2
System report on trial balance ...........................................................................................23
3.8
Verification Procedure for Accounts Payables Opening balances ....................................27
3.9
Verification Procedure for Accounts Receivables Opening balances ...............................32
3.9.1
Customer Opening Balances .............................................................................................32
3.9.2
Customer Open Receipts ...................................................................................................34
3.10
Viewing Reports in Discover .................................................................................................40
3.11
Verification Procedure for Assets ..........................................................................................49
3.12
Verification Procedure for Bank Master for a Unit .............................................................51
3.13
Verification Procedure for Debtors Trial balance for a Unit ..............................................51
3.14
Verification Procedure for Customer Master for a Unit .....................................................52
3.15
Verification Procedure for Supplier Master for a Unit .......................................................53
3.16
Reconciliation Procedure if it does not tally ........................................................................54
3.17
To Print the Discoverer Report ..............................................................................................55
4
Transaction Period ............................................................................................................................59
4.1
Pre-transaction requisites .......................................................................................................59
4.2
Transaction Entry ....................................................................................................................59
4.3
Special Consideration Points for Intercompany Transactions ..........................................60
5
Closure Period ...................................................................................................................................62
5.1
Period Closure Activities in Payables ...................................................................................62
5.2
Period Closure Activities in Receivables ..............................................................................62
5.3
Period Closure Activities in Fixed Assets ............................................................................63
5.4
Period Closure Activities after reviewing sub ledgers in General Ledger ......................63
5.5
Closing Stage Transaction Success Check List ....................................................................63
4
1 Objective
The objective of going live is to use the FAP system for regular day to day financial and
accounting transactions. This document helps the users to get started with FAP.
The evaluation of FAP would be monitored at Head Quarter. Thus evaluations
incorporate both formative (i.e. 'during') and summative (i.e. 'after') evaluation at regular
intervals.
This document seeks to bring in clarity as to what would be the methodology and criteria
for judging the success of the project and the methodology used.
The document is structured on a stage wise basis, activities at inception, during and at
closure.
5
2 Getting Started
This section lists down the basics of getting started
2.1
Pre-requisites
The following are the pre-requisites before logging on to Oracle Applications:
1. The Computer should be connected to Internet
2. The Computer should have an internet browser like Internet Explorer, Mozilla
Fire fox etc.
2.2
First steps
To access the application, the following steps would be required:
1. Open the internet browser. For example, Go to start, Programs and within
Programs to Internet Explorer.
2. Type in the URL to access the server:
You can access the server in two ways:
6
a. Go to FAP Home Page http://fcifap.nic.in:7778/
For Rollout, click on Roll-Out Application links
b. You can directly go to the Rollout Application by clicking
http://fcifap.nic.in:8004/
Suggestion: As this URL will be frequently accessed, it is better to save it as
Favorites. For adding this as
3. Log in with your user name. Your user name is your UNIT_STAFF CODE. For
eg at Headquarters with the staff code S0065050C, the log in id would be
HA11_S0065050C.
4. Your default password is fci123. On logging in for the first time, you will be
prompted to change your password. Please change the same to any suitable
password.
An application user enters this password along with her or his username to sign on
to Oracle Applications.
Password Policy is a password must be at least five (5) characters and can be up
to thirty (30) characters.
All characters are allowed except control characters, which are non-printable. Use
of non-alphanumeric characters is encouraged but not mandatory because they
add complexity, making passwords harder to guess.
7
3 Inception Data Loading
Data as of 31st March, 2008 / 1st April, 2009 is being loaded for the pilot sites. Module
wise, data loaded into the system is listed below.
3.1
General Ledger - Inception Loading
The following would be loaded:
1. Trial balance, including
a. Intercompany Accounts
b. Bank Accounts Opening Balances
2. Stock Ledger Summary
3. Missing/ Unconnected Wagon
3.2
Accounts Payables - Inception Loading
The following would be loaded:
1. Supplier
2. Supplier Opening Balances – All open invoices
3. Bank Master
3.3
Accounts Receivables - Inception Loading
The following would be loaded:
1. Customer
2. Customer Opening Balances –All open invoices
3. Customer Receipts –All open customer receipts
3.4
Fixed Assets - Inception Loading
The following would be loaded:
1. Fixed Asset – Gross Block, Accumulated Depreciation with quantity details, asset
wise
2. Other Details for assets like owned, leased, location etc.
3.5
Inception Stage Criteria Success Check List
The basic objective of the inception stage checklist is to compare the data submitted to
Headquarters with the System Generated Reports.
The check list which would be evaluated at inception stage are:
8
Item
Document
General
1. Trial Balance –
Ledger
–
Detail
from
Trial Balance
system
2. Trial
Balance
provided to Head
Quarters
Intercompany 1. Trial Balance –
Balances
Detail
from
system, focus on
Intercompany
segement
2. Intercompany
Balances
provided to Head
Quarters
Bank
1. Trial Balance –
Balances
Detail
from
system focus on
Depot segment
2. Bank Balance –
GL Trial Balance
Report on Bank
Account
3. Bank Balances
provided in Bank
Template
to
Head Quarters
Report Name
Trial Balance
–
Detail
(General
Ledger)
4.
Missing and 1. Missing/
Unconnected
Unconnected
Wagon
Wagon Report
from
System
(Discoverer
Report: Missing
/ Unconnected
Wagon Report)
2. Missing/
Unconnected
Wagon Report
provided
in
Template
to
Head Quarters
Missing/
The unreconciled Wagons should be seen
Unconnected
the Missing/ Unconnected Unreconciled
Wagon Report sheet
(Discoverer
report)
5.
Stock Ledger 1. Stock
Ledger
Summary
Summary Report
from System
2. Stock
Ledger
Summary
provided
in
FCI
Stock This should tally
Ledger
Summary
Report
(General
Ledger
1.
2.
3.
Success Criteria
Trial Balance Report as per the system
should tally with the Trial Balance
provided to Head Quarters.
Report name: Trial Balance Report as per the system
Trial Balance should tally with the Intercompany
–
Detail Balances provided to Head Quarters
(General
Ledger)
Trial Balance Trial Balance Report as per the system
–
Detail should tally with the Bank Balances
(General
provided to Head Quarters
Ledger)
9
Template
to Report)
Head Quarters
6.
General
1. Payables
with
Ledger with
GL
Accounts
Reconciliation Payable
Accounts
Payable
Trial
Balance
FCI
India The Opening balance of the suppliers as
Creditors Trial per the trial balance should tally with the
Balance
( Accounts Payable Trial Balance
Payables
Responsibility)
7.
Accounts
Payable
Supplier
Suppliers
This should tally
Report
(
Payables
Responsibility)
-
1. Supplier
Suppliers Report
2. Supplier
Opening
Balances
Invoice Register
3. Templates
provided
to
Headquaters
8.
General
1. Payables
with
Ledger with
GL
Accounts
Reconciliation Receivable
Accounts
Payable
Trial
Balance
9.
Accounts
1. Open Receipts Receivables –
Receipt Register
Open
2. Open Receipts
Receipts
provided to Head
Quarter
10. Accounts
Receivables
FCI Debtors
Ledger Report
(Receivables
Responsibility)
The Opening balance of the suppliers as
per the trial balance should tally with the
grand total of Report – Account head
wise Balance
FCI
This should tally
Receivables
Invoice
Register
(Receivables
Responsibility)
1. Customer
– Customer
Customer Listing Listing
–
Report – Detail
Detail
2. Customer
(Receivables
Opening
Responsibility
Balances – Sales
Journal
by
Customer
11. General
1. Asset register
Ledger with 2. Opening Balance
Fixed Assets
of the Fixed
Assets in Trial
Balance
12. Bank
1. Bank Master Templates
Bank
Account
Listing
Asset Register This should tally with the manual input
(Discoverer
Report)
Bank Account To ensure that the Banks are correctly
Listing
created, this should tally with the manual
(Payables
input.
10
Responsibility)
3.6
Verification Procedure for General Ledger Trial Balance
Note the Existing vs New Account Match provided on the URL http://fcifap.nic.in:7778/
offers the new account codes in addition to the old account codes. The trial balance from
the system would be in the new account codes and the same can be compared.
The trial balance submitted to the Head Quarters is to be compared with the trial balance
report generated as follows from the system.
There are two ways to verify the trial balance. The first method involves exporting the
trial balance to excel and the second approach involves taking a report from the system.
3.6.1
Exporting the Trial Balance to excel
Log in to the system with General Ledger Responsibility
Function Path: Journals >> Enter >> New Journal.
Steps:
1. Click on Find and Find the requisite journal. Search parameters may be entered to
narrow down the search to the required entry. To facilitate quick finding, you may
find on the category for the Trial Balance, which is ‘Unit Name ‘
11
2. Review Journal: Click on review Journal to review the Journal.
3. Export to Excel: On opening the Journal, click the first line of the Journal entry and
export the file to Excel by clicking on the file menu and then export.
12
4. Export to Excel: On opening the Journal, click the first line of the Journal entry and
export the file to Excel by clicking on the file menu and then export. IMPORTANT:
Please keep the control key pressed while exporting to excel.
13
5. Continue to End: If you get a message box, press continue to end to continue
exporting. System will start exporting data.
6. Save the TSV: The file format is of the type tsv, save it in the requisite folder. The
file can be changed to WA11_TB_EXPORT.tsv.
7. Convert the tsv to xls: Open Microsoft excel and open the csv. Please ensure that the
file type at the bottom is all files or else the files with the type csv will not be seen.
8. Type Delimited: Select the type as delimited.
14
9. Complete the tsv to excel converison: Click on next to complete the conversion to
excel.
10. Compare excel to excel: Since the trial balance from the system is available in excel
now and the original trial balance provided to Head quarters is also available in excel,
the two may be compared. The excel can be sorted on any basis like sort on debit
amount and then sort on credit amount to facilitate comparison.
3.6.2
System report on trial balance
Log in to the system with General Ledger Responsibility
Function Path: View>> Requests >> Submit a new request.
1. New Request: Click on Submit a new request.
15
16
2. Trial Balance Detail: Select the report Trial Balance - detail.
3. Parameters: Enter the requisite parameters
17
4. View Output: Click on view output to see the output. The output is available in rdf
format and cannot be exported to excel. Compare the output with the excel provided
to head quarters.
18
3.7
Verification Procedure for General Ledger Stock Ledger Summary
There are two ways to verify the Stock Ledger Summary. The first method involves
exporting the Journal Entry of the Stock Ledger Summary to excel and the second
approach involves taking a report from the system.
3.7.1
Exporting the Stock Ledger to excel
Log in to the system with General Ledger Responsibility
Function Path: Journals >> Enter >> New Journal.
Steps:
1. Click on Find and Find the requisite journal. Search parameters may be entered to
narrow down the search to the required entry. To facilitate quick finding, you may
find on the category for the Trial Balance, which is ‘Unit Name ‘. Stock Ledger
Summary is a zero amount entry with the quantity being entered in the statistical
amount.
19
2. Review Journal: Click on review Journal to review the Journal.
3. Export to Excel: On opening the Journal, click the first line of the Journal entry and
export the file to Excel by clicking on the file menu and then export.
20
4. Export to Excel: On opening the Journal, click the first line of the Journal entry and
export the file to Excel by clicking on the file menu and then export. IMPORTANT:
Please keep the control key pressed while exporting to excel.
21
5. Continue to End: If you get a message box, press continue to end to continue
exporting. System will start exporting data.
6. Save the TSV: The file format is of the type tsv, save it in the requisite folder. The
file can be changed to EF32_SLS_EXPORT.tsv.
7. Convert the tsv to xls: Open Microsoft excel and open the csv. Please ensure that the
file type at the bottom is all files or else the files with the type csv/tsv will not be
seen.
8. Type Delimited: Select the type as delimited.
22
9. Complete the tsv to excel converison: Click on next to complete the conversion to
excel.
10. Compare excel to excel: Since the SLS from the system is available in excel now
and the original SLS provided to Head quarters is also available in excel, the two may
be compared. The excel can be sorted on any basis like sort to facilitate comparison.
All the opening values are given as opening stock for the account number 5061.
3.7.2
System report on trial balance
Log in to the system with General Ledger Responsibility
Function Path: View>> Requests >> Submit a new request.
1. New Request: Click on Submit a new request.
23
24
2. FCI Stock Ledger Summary Report: Select the report FCI Stock Ledger Summary
Report.
25
3. Parameters: Enter the requisite parameters. To check opening balance the from date
and to date will have to be 30-SEP-2007.
4. View Output: Click on view output to see the output. The output is available in rdf
format and cannot be exported to excel. Compare the output with the excel provided
to head quarters.
26
3.8
Verification Procedure for Accounts Payables Opening balances
To verify the opening balances for a unit, user needs to run the report ‘FCI India
Creditors Trial Balance’. Use this Report to get Creditors Trial Balance with final
closing balance for a unit as on a date. The steps to run this report is shown below
Log on into the system with Payables User Responsibility.
Function Path: View->Requests.
1) Click on submit a new request as shown below.
27
2) Click on OK.
28
3) Select the ‘FCI India Creditors Trial Balance’ as shown below
29
4) Select the following parameters. Make sure to select the correct unit code.
30
5) Click on OK. Then Click on Submit.
6) When the report completes successfully, Click on View Output as shown below. This
will open the report. Click on menu ‘Tools->Copy File’. You can save the report as such.
The report output would look like
31
3.9
Verification Procedure for Accounts Receivables Opening balances
3.9.1 Customer Opening Balances
Run the Discoverer Report “FCI Debtors TB”.
32
Enter the parameters.
The report will look like:
33
3.9.2
Customer Open Receipts
To verify the opening balances for a unit, user needs to run the report ‘Receipts
Journal’. This report reviews and analyzes accounting entries in Receivables. This report
is also helpful when user reconciles accounts with General Ledger. The steps to run this
report is shown below
Log on into Financial Accounting Package with RECEIVABLES USER Responsibility.
Function Path: Oracle Receivables->Control->Requests->Run.
1. i) Navigate to Oracle Receivables->Reports->Others
ii) Navigate to Control->Request->Run
34
2. It will bring the Submit a New Request Window as shown below. Click OK.
3. Enter the Request Name (Name of the Report).
4. Enter parameters for running this request.
35
5. To save the output of this request to a file, check the Save Output check box.
6. Choose submit request. It will prompt a window and ask for submitting another
request. Choose No.
36
7. To review the status of the request, navigate to the menu View ->Requests window,
and click on Find.
37
1.
It will bring the following window.
38
2. Select the report for which out put is to be seen. Click on View Output.
39
3. Select tools -> Copy File. It will open the report.
3.10
Viewing Reports in Discover
The report for verification like for example Assets is in discoverer. The following is the
procedure for viewing Discoverer Reports.
Log in to Oracle Application with the username and password provided to you.
And chose the responsibility FCI Discoverer.
40
In FCI Discoverer Responsibility you will find the one menu options named as FCI
Discoverer. Click on this.
41
42
Following Screen will be opened
43
Select Oracle Applications from LOV of the Connect To field, enter your User Name abd Password in
the respective columns and enter Test in the Database field and click on Go tab
Note: Please wait till the “Done” message appears on the left hand side of the status bar.
44
Following Screen will be opened
45
From the LOV for Resposibilty select FCI Discoverer
46
Following Screen will be opened
47
Click on the + arrow sign in front of the report you wants top open, following sheet will be displayed
Like for example to verify Assets, click on the Asset WorkBench Report, Sheet 1.
48
Click on Sheet to open the open the report, following sheet will be opened
3.11
Verification Procedure for Assets
This involves viewing assets report in discoverer. Access discoverer as per the procedure mentioned in
Section 3.11. The following report may be displayed:
1. Enter parameters for running this request. The Book is FCI Asset Book.
2. The following report will be displayed.
49
3. Compare the output with the information provided in excel.
50
3.12 Verification Procedure for Bank Master for a Unit
This involves viewing Bank Master Report in discoverer. Access discoverer as per the procedure
mentioned in Section 3.11. The following report may be displayed:
Report Name: Bank Master Report
1. Enter unit parameter for running this request.
The following report will be displayed.
3.13 Verification Procedure for Debtors Trial balance for a Unit
This involves viewing Debtors Trial Balance Report in discoverer. Access discoverer as per the
procedure mentioned in Section 3.11. The following report should be executed:
Report Name: FCI Debtors TB
51
The result can be exported in excel sheet for further analysis.
3.14 Verification Procedure for Customer Master for a Unit
This involves viewing Customer Master report in discoverer. Access discoverer as per the procedure
mentioned in Section 3.11. The following report may be displayed:
Report Name: Customer Master Report
1. Enter unit parameter for running this request.
The following report will be displayed.
52
3.15
Verification Procedure for Supplier Master for a Unit
1
Report Name:
Enter unit parameter for running this request.
Supplier Master Report
The following report will be displayed.
53
3.16
Reconciliation Procedure if it does not tally
2.
3.
Item
General Ledger – Trial Balance in
system with trial balance
provided to Head Quarters
Intercompany Balances
Bank Master
4.
Bank Balances
5.
Missing and Unconnected Wagon


Reverse the wrong Journal Entry
Put correct Journal entry and verify
6.
Stock Ledger Summary

Put Journal entry with differential quantity with
zero amount and credit amount zero and zero
quantity
7.
Accounts Payable

If subledger is not tallied then put invoice or
cancel invoice
8.
Accounts Receivable

If subledger is not tallied then put invoice or
cancel invoice
9.
Accounts Receivable – Open 
1.
Document
 Put Journal entry and verify



Put Journal entry and verify
If Bank is not set up, give details to Head
quarters
Put Journal Entry with correct bank code
Reverse or new open receipt
54
Receipt
10. User Creation
For new user submit request to Head Quarters
11. For additional responsibility for 
existing users
For additional responsibility, submit request to
Head Quarters

In case of discrepancy furnish correct details to
Head quarters

Either add or delete asset and do the asset
adjustment as required.
12. FCI Address
13. Fixed Assets
3.17

To Print the Discoverer Report
Click on ‘Printable page’ link on left hand side of the page.
55
Click on Printable PDF button on top right corner of the screen.
Click on the PDF document created and open or save it to view it.
56
57
Print Report output through File>Print
58
4 Transaction Period
Transactions would be entered into the system from 1st April, 2009.
This refers to the period of one month in which the field users would pass entries of the
transactions in all modules and post the same to the General Ledger.
The Pilot Sites Go Live would enter transactions in the system for a period of one month.
After a period of one month, the results are verified. If the results of FAP are found
correct, the purpose of pilot testing and pilot go live is accomplished.
4.1
Pre-transaction requisites
1. Accounts Payable – Define Cheque Book
2. Accounts Payable/ Receivable – Define tax codes
4.2
Transaction Entry
1. Data Entry Format wise: The following formats would be entered in the respective
modules, with the help of the respective user guides as follows:
BE I
BE II and III
BE IV
BE V
BE VI and VII
BE VIII
Accounts Receivable
Accounts Payable
Accounts Payable
Accounts Receivable
General Ledger
When FC note is presented to bank, then it is dealt as cheque book.
When FC note is presented to FCI then no action is required.
BE IX
Accounts Receivable
BE X
General Ledger
All Part II entries General Ledger
2. Bank Statement: This would be uploaded in Cash Management module.
Certain transactions would have been passed in our books up to 30th September, 2007.
However, credit would have been given by the bank on or after 1st October, 2007. Hence,
we would not be able to reconcile the bank statement lines in FAP, as the corresponding
entry passed in our books would not be available in FAP as it is before the cut off date.
Otherwise, they will be always be on the reports as 'Unreconciled' Entries such as the
'General Ledger Reconciliation Report' and the 'Transactions Available for Reconciliation
Report'.
59
We would then mark the bank statement line as external.
The path to do this would be
CE>Bank Statement>Bank Statement Reconciliation: Select your bank statement>click
Lines>Find
and
then select the statement line which you want to mark EXTERNAL.
>Click Mark: this will show you List of Values (LOV) select External.
This will make the Statement Line External.
3. Fixed Assets: Depreciation would be run at Headquarters level to close the books of
the Fixed Asset module.
4. Payroll: Salary would have to be run for a period of one month. Payments would be
made through Accounts Payable.
4.3
Special Consideration Points for Intercompany Transactions
Rollout in FCI is planned in a phased manner. This may result in a situation for
intercompany transactions, where in one of the units of the intercompany entry is live,
while the other unit is not yet rolled out. For example, it is a transaction between banks of
two units and if one of the unit is live and the other unit is not live, then the bank of the
other unit may not be available. Another example would be the workflow in case of
intercompany entries is also required to be reassigned to the other unit, hence the other
unit approver would also not have being made, this would have to be kept pending.
Intercompany entries would be passed after the go live date (31st March, 2009 i.e.
Transactions commencing from 1st April 2009) involving the other sites.
Here, the rule followed would be that the sender has to do it. If the receiving unit is not
rolled out, the such transaction should be kept pending until the other unit is rolled out.
The following entries would, hence in certain cases required to be kept pending, if the
other unit is not yet rolled out.
1. In General Ledger, the intercompany transactions would pertain to areas like
IOGA, IOR and Inter Company Fast Collection.
2. Workflow: The reassignment mechanism of intercompany workflow would not
be used until all the sites go live, as the non pilot users would not be available till
then on the FAP platform. Till that point of time, these entries would be pending.
3. Non Pilot Bank Accounts: These entries would also be pending.
60
4. Asset Transfer from non pilot site to pilot site: Once all units go live, this will
be handled through the asset module. If the other unit is not live, then this would
also be pending.
61
5 Closure Period
Reconciliation would have to be done on month to month basis. For every month to be
entered, the reports would have to be generated from the system and compared with the
manual data input.
For Period Closure certain activities would need to be performed, before proceeding with
verification.
5.1
Period Closure Activities in Payables
1. Validate all invoices.
2. Resolve all unaccounted transactions. Submit the Payables Accounting Process to
account for all unaccounted transactions. Review the Unaccounted Transactions Report.
Review any unaccounted transactions and correct data as necessary. Then resubmit the
Payables Accounting Process to account for transactions you corrected.
3. Transfer invoices and payments to the General Ledger and resolve any problems you
see on the output report.
4. In the Control Payables Periods window, close the period in Payables.
• Accounts Payable Trial Balance Report, (this period and last period).
• Posted Invoice Register,
• Posted Payment Register.
6. If Oracle Assets is used, run the Mass Additions Create Program transfer capital
invoice line distributions from Oracle Payables to Oracle Assets.
7. Post journal entries to the general ledger and reconcile the trial balance to the General
Ledger.
5.2
Period Closure Activities in Receivables
1. Complete the manual payments and adjustments for the period
2. Complete the manual invoices, credit memos & corrections for the period
4. Run the final AutoInvoice Interface
5. Correct all the Autoinvoice rejects and re-run.
6. Confirm that there are no unapproved adjustments. If found approved or reject.
7. Complete or delete 'All' incomplete transactions
8. Notify all users that the system is not available
9. Run the Journal Entries Reports.
62
10. Review the Journal Entries reports for 'unusual' accounts and correct as needed.
11. Run the Receivables Reconciliation Report to make sure that you balance with
receivables.
12. Run the final post to General Ledger.
13. Post GL batches
14. Run the unposted items report - verify that there are no unposted items.
15. Reconcile Accounts Receivable balances to General Ledger.
16. Close accounting period in Oracle Receivables
17. Open the next accounting period in Oracle Receivables
18. Notify all users that the system is available
5.3
Period Closure Activities in Fixed Assets
Period Closure activities in Fixed Assets involves running depreciation. These would be
done at Head Quarters only, after all units have competed their entries.
5.4
Period Closure Activities after reviewing sub ledgers in General Ledger
The following activities would need to be performed:
1. Review the Journal Import Execution Report to check the status of all imported
journal entries. The following reports would be reviewed:
• Posting Execution Report
• Error Journals Report
2. Review any error Journal Entry Batches. Determine the source of the error and
correct the same.
3. Close the period in the subledger
4. Set the status of the first accounting period in the new fiscal year to Future Entry.
When Oracle General Ledger opens the first period in a new year, the balance sheet
accounts are rolled forward and the income statement accounts are closed to the
retained earning account as defined in the GL Set of Books.
Note: It is advisable not to open the first period of the new fiscal year until all of the
year-end processing for the last period of the current year has completed.
5.5
Closing Stage Transaction Success Check List
Closing Stage checklist will also include verification of all transactions in addition to the
Verification of the closing statements.
Sr. No.
Transaction
Tallied with
63
General Ledger –
Journal Register
Bank Transactions
with
Bank
Statement
Monthly Posting
Sheet
Monthly Posting
Sheet
Cash Transactions
Depreciation Run
1.
2.
3.
4.
5.
6.
1. Journals Entry Report
1. Bank Reconciliation Statement
1. Purchase Day Book
1. Sales Day Book
1.
1.
2.
3.
Cash Book
Depreciation Report
India Localization Repot
Assets schedule
In addition to the above transactions, the checklist at the beginning would also be
checked which is as follows:
Sr. No.
1.
Item
Bank Balances
2.
Missing
Unconnected
Wagon
3.
Stock
Summary
Document
1. Trial Balance
– Detail from
system focus
on
Depot
segment
2. Bank
Balance – GL
Trial Balance
Report
on
Bank
Account
3. Bank
Balances as
in the manual
system
Report Name
Trial Balance Detail
(General
Leger
Responsibility)
Success Criteria
Trial Balance Report as per
the system should tally with
the Bank Balances
and 1. Missing/
FCI
Missing/
Unconnected Unconnected
Wagon
(Discoverer Report)
Report from
System
2. Missing/
Unconnected
Wagon
Report as in
the manual
system
The unreconciled Wagons
should be seen the Missing/
Unconnected Unreconciled
sheet
Ledger 1. Stock Ledger FCI Stock Leger This should tally
Summary
Summary
Report
Report from (General Ledger)
System
64
2. Stock Ledger
Summary in
manual
system
4.
General
Ledger 1. Payables
with
Accounts
with
GL
Payable
Reconciliatio
n - Accounts
Payable Trial
Balance
FCI India Creditors
Trial
Balance
(Payables
Responsibility)
5.
Accounts Payable - 1. Supplier
Supplier
Suppliers
Report
2. Supplier
Opening
Balances
Invoice
Register
General
Ledger 1. Payables
with
Accounts
with
GL
Receivable
Reconciliatio
n - Accounts
Payable Trial
Balance
Suppliers
Report This should tally
(Payables
Responsibility)
6.
7.
Accounts
Receivables
Open Receipts
–
The Opening balance of the
suppliers as per the trial
balance should tally with
the Accounts Payable Trial
Balance
FCI Debtors Ledger The Opening balance of the
Report (Receivables suppliers as per the trial
Responsibility)
balance should tally with
the grand total of Report –
Account head wise Balance
FCI
Receivables This should tally
Register
Receipts
- Invoice
(Receivables
Receipt
Responsibility)
Register
2. Open
Receipts as in
the manual
system
1. Open
1. Customer – Customer Listing –
Customer
Detail (Receivables
Listing
Responsibility
Report
–
Detail
2. Customer
Opening
Balances –
Sales Journal
by Customer
8.
Accounts
Receivables
9.
General
Ledger 1. Asset register Asset
Register This should tally with the
with Fixed Assets
2. Assets
in (Discoverer Report)
manual input
manual
65
10.
Bank Templates
system
1. Bank Master Bank Account Listing
Bank (Payables
Account
Responsibililty)
Listing
To ensure that the Banks
are correctly created, this
should tally with the
manual input.
66