Revaluing Foreign Currency Balances
Asset and Liability accounts that are entered in foreign currencies must be revalued every period in accordance with FAS52 (Financial Accounting Standards). The Revaluation program adjusts the value of the balance sheet accounts based on current period exchange rates. It then generates revaluation journals with adjustments to the defined unrealized gain/loss account. The Revaluation program generates adjustments in the Functional Currency. If you have a Reporting Set of Books you must run revaluation once for each Primary and Reporting Set of Books. The Revaluation generates a revaluation batch containing a separate journal for each foreign currency. The revaluation batch automatically has its reversal period set to the next accounting period. When you run revaluation for the next accounting period, you must reverse and post the last accounting periods revaluation batch first.
You get to the Revalue balances form by following navigation path
Currency->Revaluation
Translating Foreign Currency Balances
The Translation process translates actual and budget account balances to another currency in accordance FAS52. The translation program uses three different exchange rates: period-average, period end, and historical. The translation program translates asset and liability accounts using the period end exchange rate, ownership/stockholder equity accounts using the historical exchange rate, and revenue and expenses accounts using period average exchange rate. The period average exchange rate is the average rate of all daily rates across the entire accounting period.
The profile option GL: Owners equity transaction rule effects how ownership stockholders equity account balances are translated. If the profile option is set to PTD, the net activity accounts of the accounting period are translated, then added to the corresponding prior period balances. If the profile set to YTD the balances, not the activities are translated and the translated amounts are the YTD Balances. There is no need to add the balances to previous balances.
Navigation
Currency-> Translation
Multiple Reporting Currencies
Multiple Reporting Currencies allows you to maintain accounting transactions in more than one functional currency. MRC is set up by creating one or more Reporting Set of Books.
MRC need if
Your company is located a member state of EMU and would like to report financial data, including transaction level data, in both your functional currency and the Euro.
You must regularly report financial data including transaction level data in more than one currency because your company is multinational.
MRC Works for following modules
Assets, CashManagment, Cost Management , General Ledger, Payables, Projects, Purchasing, Receivables.
MRC works differently depdning on whether you enter the transaction inn Oracle Subledger or Oracle GL. When you enter transaction in subledgers the accounting transactions are translated into the Reporting set of books as you enter the transaction. When you transfer to Oracle GL, you must transfer to both the primary set of books and the reporting set of books you should post the transferred subledgers accounting transactions to the primary set of books as well as to all reporting set of books.
When you enter transactions in GL, the journal entries entered in the Primary Set of Books are not translated immediately into any reporting Set of Books, when the Journal entries are posted
In the Primary Set of Books it will transferred to reporting Set of Books. In the reporting Set of Books you can post, revalue , translate and consolidate.
Thursday, August 21, 2008
Oracle Receivables
Maintaining Invoice and Credit Memo Transactions
In oracle Receivables transaction can be reviewed an updated after creation regardless of whether the transaction was created manually or imported using ‘Auto Invoice’.There are exceptions to this and some system options and profile options have to be set.
If the Allow change to printed transactions system option is ‘Yes’ you can update most of the transaction information, even if the transaction has been printed. However if there is activity against the transaction, you will not be able to make changes to many of the transaction attributes. Activity includes actions such as payments, credit memos, adjustments and including transactions on a consolidated billing invoice.
After your transactions have posted to your General Ledger, you can still update most of information. Receivables maintains a complete audit trail of all the posted changes you make to your accounting entries.
Receivable does not maintain an audit trail when you change a transaction that has not been posted.
Also what can be changed depends on various attribute settings on the transaction.
In addition to updating transactions, you may find the need to delete or void a transaction. Again, there are circumstances under which deleting or voiding a transaction can be accomplished.
Transaction Field Reference
When reviewing the tables, you will notice the tables indicate the field reference in down the left side of the table with the conditions going across the rows. Within the rows is the indication as to whether this field reference can be updated or not any exceptions that must be considered. By using these tables you will resolve many of your own issues as to why a user cannot update particular field on an invoice or credit memo.
When reviewing the update table you will note there are two sections, header and line levels.
Once you save the transaction, you cannot update the transaction number.
Additionally here are some profile options and system options that effect maintaining transactions.
System options can be set as follows
Setup/System/System Options/Trans and Customers Tab
Set allow change to printed transactions to Yes
Profile Options can be set as follows
Using the system administrator responsibility
Profile/System
Site level
Query in the field for the profile of choice. Some profile options that affect maintaining transactions are
AR: Update Due
AR: Change Customer on Transaction
Allow update existing sales credits
Sequential Numbering – Make the options is not null at all levels, has to contain a value at least one level.
Delete or Void Transactions
Deleting or voiding transactions can be accomplished depending on how your administrator has setup function security on you Oracle Receivables.
If the allow change to Printed Transactions system options is set to Yes and transactions have no activity against them, then the transaction have no activity against them, then the transactions can be removed by one of the following methods:
By delete record from the edit menu. This will delete invoice and any lines.
Invoice with rules cannot be deleted but you can create a credit memo and apply it to the invoice. The credit memo will create a credit entry offsetting the invoice debit entry.
Void the invoice by changing the invoice type in the Transaction window to a type with the Open Receivables and Post to GL options set to No. This will delete the payment schedule and cancel the distributions by removing the GL Date.
Delete the payment schedule by choosing incomplete button in Transaction window. This makes the invoice inaccessible for payment or crediting.
Maintaining Transactions Navigation
Navigate to the Transactions or the Transactions summary window:
Transactions/Transactions
Query the Transaction.
Change the transaction type to ‘void’ transaction type
Save
Transaction Table Information
Invoice : When an invoice is created the Header information is written to the RA_CUSTOMER_TRX_ALL table. Changes to any of the header information such as the customer invoice line information is written to RA_CUSTOMER_TRX_LINES_ALL, RA_CUST_TRX_LINE_GL_DIST_ALL, AR_PAYMENT SCHEDULES_ALL and RA_CUST_TRX_LINE_SALEREPS_ALL.
RA_CUST_TRX_LINES_ALL holds line details, what and how much is being invoices a nd what tax is applicable.
RA_CUST_TRX_LINES_GL_DIST_ALL stores information that need to be posted across General Ledger.
AR_PAYMENT_SCHEDULES_ALL keeps running totals of the Invoice amounts for line,tax and freight. Record both the original amounts and the amounts remaining.
RA_CUST_TRX_LINE_SALEREPS_ALL stores who get credited for the sale represented by the invoice.
Credit Memo
Credit memos are stored in the same tables as the invoices. RA_CUSTOMER_TRX_ALL hold the credit memo header information similar to that of the invoice credit memo line information is t stored in RA_CUST_TRX_LINES_ALL, RA_CUST_TRX_LINE_GL_DIST_ALL, AR_PAYMENT SCHEDULES_ALL, AR_RECEIVABLE_APPLICATIONS_ALL
RA_CUSTOMER_TRX_LINES ALL holds credit memo line detail information.
AR_Receivable_Applicaitons_all- stores how much of the credit memo is applied
In oracle Receivables transaction can be reviewed an updated after creation regardless of whether the transaction was created manually or imported using ‘Auto Invoice’.There are exceptions to this and some system options and profile options have to be set.
If the Allow change to printed transactions system option is ‘Yes’ you can update most of the transaction information, even if the transaction has been printed. However if there is activity against the transaction, you will not be able to make changes to many of the transaction attributes. Activity includes actions such as payments, credit memos, adjustments and including transactions on a consolidated billing invoice.
After your transactions have posted to your General Ledger, you can still update most of information. Receivables maintains a complete audit trail of all the posted changes you make to your accounting entries.
Receivable does not maintain an audit trail when you change a transaction that has not been posted.
Also what can be changed depends on various attribute settings on the transaction.
In addition to updating transactions, you may find the need to delete or void a transaction. Again, there are circumstances under which deleting or voiding a transaction can be accomplished.
Transaction Field Reference
When reviewing the tables, you will notice the tables indicate the field reference in down the left side of the table with the conditions going across the rows. Within the rows is the indication as to whether this field reference can be updated or not any exceptions that must be considered. By using these tables you will resolve many of your own issues as to why a user cannot update particular field on an invoice or credit memo.
When reviewing the update table you will note there are two sections, header and line levels.
Once you save the transaction, you cannot update the transaction number.
Additionally here are some profile options and system options that effect maintaining transactions.
System options can be set as follows
Setup/System/System Options/Trans and Customers Tab
Set allow change to printed transactions to Yes
Profile Options can be set as follows
Using the system administrator responsibility
Profile/System
Site level
Query in the field for the profile of choice. Some profile options that affect maintaining transactions are
AR: Update Due
AR: Change Customer on Transaction
Allow update existing sales credits
Sequential Numbering – Make the options is not null at all levels, has to contain a value at least one level.
Delete or Void Transactions
Deleting or voiding transactions can be accomplished depending on how your administrator has setup function security on you Oracle Receivables.
If the allow change to Printed Transactions system options is set to Yes and transactions have no activity against them, then the transaction have no activity against them, then the transactions can be removed by one of the following methods:
By delete record from the edit menu. This will delete invoice and any lines.
Invoice with rules cannot be deleted but you can create a credit memo and apply it to the invoice. The credit memo will create a credit entry offsetting the invoice debit entry.
Void the invoice by changing the invoice type in the Transaction window to a type with the Open Receivables and Post to GL options set to No. This will delete the payment schedule and cancel the distributions by removing the GL Date.
Delete the payment schedule by choosing incomplete button in Transaction window. This makes the invoice inaccessible for payment or crediting.
Maintaining Transactions Navigation
Navigate to the Transactions or the Transactions summary window:
Transactions/Transactions
Query the Transaction.
Change the transaction type to ‘void’ transaction type
Save
Transaction Table Information
Invoice : When an invoice is created the Header information is written to the RA_CUSTOMER_TRX_ALL table. Changes to any of the header information such as the customer invoice line information is written to RA_CUSTOMER_TRX_LINES_ALL, RA_CUST_TRX_LINE_GL_DIST_ALL, AR_PAYMENT SCHEDULES_ALL and RA_CUST_TRX_LINE_SALEREPS_ALL.
RA_CUST_TRX_LINES_ALL holds line details, what and how much is being invoices a nd what tax is applicable.
RA_CUST_TRX_LINES_GL_DIST_ALL stores information that need to be posted across General Ledger.
AR_PAYMENT_SCHEDULES_ALL keeps running totals of the Invoice amounts for line,tax and freight. Record both the original amounts and the amounts remaining.
RA_CUST_TRX_LINE_SALEREPS_ALL stores who get credited for the sale represented by the invoice.
Credit Memo
Credit memos are stored in the same tables as the invoices. RA_CUSTOMER_TRX_ALL hold the credit memo header information similar to that of the invoice credit memo line information is t stored in RA_CUST_TRX_LINES_ALL, RA_CUST_TRX_LINE_GL_DIST_ALL, AR_PAYMENT SCHEDULES_ALL, AR_RECEIVABLE_APPLICATIONS_ALL
RA_CUSTOMER_TRX_LINES ALL holds credit memo line detail information.
AR_Receivable_Applicaitons_all- stores how much of the credit memo is applied
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