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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 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
accentualsco.com
@accentualsco
Session ID#: 10711
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