FA To GL Reconciliation in R12

FA To GL Reconciliation:

You can use reports to reconcile journal entries to your general ledger accounts. This
section illustrates the relationships among Oracle Assets accounting reports.
You can use reports to reconcile journal entries to your general ledger accounts. The
following sections illustrate the relationships among Oracle Assets accounting reports:
• Reconciling Journal Entries to General Ledger Accounts,
• Reconciling Asset Cost Accounts
• Reconciling CIP Cost Accounts
• Reconciling Reserve Accounts
• Reconciling Depreciation Expense Accounts
• Tracking and Reconciling Mass Additions

Reconciling Journal Entries to General Ledger Accounts
 
Use the Unposted Journals Report in Oracle General Ledger, to match GL batch totals
with the asset batch totals found in the Subledger Accounting Account Analysis report.
Related Topics
Unposted Journals Report, Oracle General Ledger
Account Analysis Report

Reconciling Asset Cost Accounts

Steps to reconcile asset cost accounts:

1. In Oracle General Ledger, match the ending balances in the Detail Trial Balance report with the ending balances in the ledger Subledger Accounting AccountAnalysis report.
2. Match the general ledger ending balances with those of the Cost Summary Report.
3. Match the ending balances of the Cost Summary Report with those of the Cost Detail Report.
Match the individual source amounts of the Cost Detail Report to the detail reports in the next steps.
4. Match additions to cost in the Asset Additions report.
5. Match adjustments to net change in the Cost Adjustment Report.
6. Match retirements to cost retired in the Asset Retirements Report.
7. Match reclasses to cost in the Asset Reclassification Reconciliation Report.
8. Match transfers to cost in the Asset Transfer Reconciliation Report.

   

Reconciling CIP Cost Accounts

Steps to reconcile CIP cost accounts:
1. In Oracle General Ledger, match the ending balances in the Detail Trial Balance Report with the ending balances in the Subledger Accounting Account Analysis report..
2. Match the general ledger ending balances with those of the CIP Summary Report.
3. Match the ending balances of the CIP Summary Report with those of the CIP Detail Report.
Match the individual source amounts of the CIP Detail Report to the detail reports in the next steps.
4. Match additions to CIP cost in the Asset Additions report.
5. Match adjustments to CIP net change in the Cost Adjustment Report.
6. Match retirements to CIP cost retired in the Asset Retirements Report.
7. Match capitalized to CIP cost in the CIP Capitalization Report.
8. Match reclasses to CIP cost in the Asset Reclassification Reconciliation Report.
9. Match transfers to CIP cost in the Asset Transfer Reconciliation Report.
10. Match ending balances to CIP cost in the CIP Asset Report.

   

Reconciling Reserve Accounts

Steps to reconcile reserve accounts:
1. In Oracle General Ledger, match the ending balances in the Detail Trial BalanceReport with the ending balances in the Subledger Accounting Account Analysis Report.
2. Match the general ledger ending balances with those of the Reserve Summary Report.
3. Match the ending balances of the Reserve Summary Report with those of the Reserve Detail Report.
Match the individual source amounts of the Reserve Detail Report to the detail reports in the next steps.
4. Match additions to accumulated depreciation in the Asset Additions report.
5. Match adjustments to reserve adjustment in the Reserve Adjustments Report.
6. Match retirements to cost retired and NBV retired in the Asset Retirements Report.
7. Match reclasses to accumulated depreciation in the Asset Reclassification Reconciliation Report.
8. Match depreciation to depreciation amounts in the Account Reconciliation Reserve Ledger report.
9. Match transfers to accumulated depreciation in the Asset Transfer Reconciliation Report.

   

Reconciling Depreciation Expense Accounts

In Oracle General Ledger, use the Detail Trial Balance Report to match with the ending balances for the Subledger Accounting Account Analysis Report.
Use the Journal Entry Reserve Ledger report to match the depreciation balances with the ending GL depreciation balances.

Tracking and Reconciling Mass Additions

You can use reports to track your mass additions from the time you bring them over from your accounts payable system to the time you post them into Oracle Assets:

Steps to reconcile Mass Additions:

1. Match asset journal amounts found in your general ledger with those in the Cost Clearing Reconciliation Report Oracle Assets automatically makes these journal entries for your general ledger.
2. Match amounts in the Cost Clearing Reconciliation Report with those in the Mass Additions Posting Report. Adjusting journal entries are necessary for account transfers and cost adjustments to posted invoice lines.
3. Match amounts in Mass Additions Posting Report with those of the Mass Additions Invoice Merge Report, Mass Additions Invoice Split Report, Unposted Mass Additions Report and Mass Additions Delete Report. Oracle Assets posts mass additions with a status of post. You can also match amounts in the Mass Additions Posting Report with those in Additions by Source Report and Cost Adjustments By Source Report. The Asset Additions Report includes posted mass additions as well as manual asset additions.
4. Match amounts in the Mass Additions Invoice Merge Report, Mass Additions Invoice Split Report, Unposted Mass Additions Report and Mass Additions Delete Report with amounts in the Mass Additions Create Report. Split, merge, delete, place on hold, or prepare for posting invoice line items brought over from accounts payable.

   
Use the Cost Clearing Reconciliation Report to match additions with those found in the Additions By Source Report.
Use the Cost Clearing Reconciliation Report to match adjustments with those found in the Cost Adjustment By Source Report.