Track Journals By Year - Doc Sequence???

[Nitin]

Hi,

Please help me in this scenario.

1. Certain Type of Journal entries are uploaded through ADI which need to be identified by the nature and tracked by the Fiscal Year they pertain to.

I have considered creating Journal Category (One Per Year) and assigning the automatic document sequence with creation method automatic to combination of (Set of Book-Application-Category).Different one for each year. However creating a new category every year does not seem to feasible option.

PLEASE SUGGEST AN ALTERNATIVE OPTION TO HAVE AN AUDIT TRAIL AND TRACK OF THESE ENTRIES BY YEAR USING ORACLE FINANCIALS.

Thanks

Nitin

[anu_uma]

Hi,

Instead of considering Journal Category Per Year and assigning the automatic document sequence with creation method automatic to combination of (Set of Book-Application-Category).

Creating a new category every year is not feasible option,

so Have the Journal Categories Standard for all the years and Create Document Sequence for every year and assign the Sequence.

Hope this will work out

Thanks,

[Nitin]

Hi,

Thanks for the inputs.

However in the case you are referring to if i keep joural category constant, in that case the prior period entries cannot be tracked by the fiscal year they pertain. There are lot of such entries.

Considering this if journal category is constant and sequence is changed every year the sequence would finish at year close. Requirement is that it should continue to track for two years. However this is not possible since more than one active sequence cannot happen for a single combination. As such what would you advise ??

Thanks
Nitin

[blitzkreigaxp]

You can continue to use the same sequence and end date it as per your requirements (need not be end of the fiscal year)

[Nitin]

Hi,

Though sequence need not have an end date. But if it does not it will be an active sequence. So in beginning of any year there would be two active sequences one for the current year and second for the previous year. However 2 active sequences cannot be assigned to the same combination of set of books,category,method.

So in your suggestion if i continue using previous year sequence, i cannot use a seperate sequence for the current year and there has to be means of tracking the entries by the fiscal year they pertain to.

Nitin

[anu_uma]

Hi,
I dont understand what you are trying to say...

do u want to use the same sequence or track the old and new sequence?

Tracking - Explain what you exactly mean to say as tracking? To cross check the old journal categories with the old sequence and going to use the same journal cateogries with new sequence for the current year.

Where is the problem, can u pls give an example of ur client needs???

Thanks,

[muzaffarnaim]

Nitin ...what i am getting from ur emails that ur requirement is to track the particular type of journals annually (with seperate sequence) as well as in continuation for more than one year (seperate sequence tracking). If this is it what i m getting then i think there is no way u can do this by using standard sequence functionality but as a work around here u have two parameters 'period range' and 'category' so u can track entries by fiscal year by simply customizing reports (yearly as well as accumulated) and fullfill the requirement.

Muzaffar Naim

Oracle Consultant

[admin]

Such information can also be maintained in Descriptive Flexfields. Check if suites you. Thanks

[Nitin]

Hi Muzaffarnaim,

You have understood the issue very correctly. Unable to apply standard oracle sequence functionality.

Could you please elaborate more on your words "by simply customizing reports (yearly as well as accumulated) and fullfill the requirement"

Also my understanding from your advise gives me a following approach..please let me know if following steps would work:-

a. Maintain a document sequence for every years (eg 1Jan'06 to 31st Dec'06) have sequence XYZ
b. Every Year whenever any prior year entry is being uploaded from ADI for the category have a process for the user to prefix fiscal year for the entry.
So if an entry for 4th period of 2004 is being recorded in 2006, have user write PY-P4-04 in the Journal Name.If an entry for 2006 is being recorded in 2006 name can automatically default with "Current period name" and "year name" eg. P4-06.
c. Create a custom report which has parameters of
1. Entity ID
2. Journal Category
3. Sequence Name
4. Sequence Range (Low Number to High Number)
5. Journal Name contains (enter prefix here)
For Previous Year it will be "PY%"
For Current Year it will be "%06%"
So at end of every year i will know current year entries as well as previous year entries for that category.

Thanks

Nitin

[Nitin]

Hi Administrator,

I think you are correct in this alternative also. DFF can be used to store wherever any previous year entry is being entered if user simply writes an indicator for the same while making the journal entry as "PY-P4-04". These entries will be uploaded in the entity SOB through ADI
The document sequencing will be enabled at the entity level to number these entries once they are imported.

1. So would descriptive flexfields be available in the ADI to mark this as PY.
2. Is there a way to create a custom report by journal category,sequence name,descriptive flexfields,sequence range

Thanks

Nitin

[admin]

Yes you can upload DFF values in column like REFERENCE1.... In ADI after clicking Upload Journal on the displayed windows on right bottom there is a button Edit Layout and select the fields and then the template will have those fields.

Yes you can create customized reports on these fields.

thanks

[Nitin]

Hi Muzaffar Naim and Administrator,

Can you please give your advise in the other option as well which i have mentioned above.

Do you think that will work?

Thanks
Nitin

[muzaffarnaim]

Nitin one thing is not clear that why u r uploading prior year entries in current year/period??...i mean each and every entry should be entered/uploaded in the period it pertains to, and PERIOD' field given in 'Enter Journal' screen to indicate which transactions belongs to that period...even in case of legacy data loading u should enter transaction to the period they pertain to.. if u dont do so then how would u do GL reconciliatione, GL closing, retained earning account allocation, compare budget variance reports etc etc??....if u upload entries from ADI in the period they belong to then u would not have any problem in tracking or to develop reports to review ur yearly transactions category wise(even if u use single sequence for good)...i dont think u should rely on naming conventions b/c these things are not authantic and would maximize the chances of human error & minimize accuracy.

Muzafar Naim

Oracle Consultant

[Nitin]

Hi Muzaffar Naim,

Please advise if approach which i suggested may be modified in some way to make it work.

You are very right.Booking in the same period is the first thing which was suggested to the client. However these transactions are foreign currency transactions and are booked after a time lag for treasury hedging purposes for reducing foreign exchange fluctuations.
So they rejected making any change to the accounting cycle for these entries.

Kindly advise.

Thanks
Nitin

[muzaffarnaim]

Nitin in this case u can try context sensitive DFF for that particular Category and take 'periods listing' as an input for that DFF, it can also fulfill ur purpose like even if u r entering all transactions in current period but take transaction's period in DFF...but first try in test environment i think i should work.

Thanx

Muzaffar Naim

Oracle Consultant