Month-End- Checks & Validations Pt. 4

Welcome to the final instalment in our month end mini-series! In this post we’ll walk through the final step for all of the validations and checks you’ve previously completed – the final validation.

  1. All Journals including other modules with a Final/Actual Status
    • This function changes all of the entries from ‘Temporary’ to ‘Final’ or ‘Actual’
      1. Navigate to Financials > Current processes> Final validation (CPTVAL)
      2. Ensure all check boxes are marked
      3. Choose a valid date range
      4. Click OK

The is the last step in your validations and check. If the previous steps have all run successfully, you are now ready to close your period!

To do this, lets start by navigating to Common Data > General Accounting Tables > Periods

If there is more than one company, ensure you are on the correct set of period records. You can choose companies from the left side of the screen

Use the carrot on the left side to expand and see fiscal years. Choose the fiscal year the period you need to close is in

Once on the correct set of periods, click the ‘Closing’ button on the right hand menu

This will bring up a screen where you can check the Y/N box for every period you want to close(up to 20). Ideally you should be closing each period at its end so you should only need to do one at a time.

Lastly, click ok! This will generate a log file indicating either that the period(s) have successfully closed, or printing a list of outstanding transactions that need processed first.

Check back for the next post where we look at the top most common issues people see while trying to close periods and how to resolve them!

What’s New in SEI V9: Finance UDM Pt. 3

Last time we walked through how to publish your account mappings and build/load the Accounts cube. Now you are ready to tackle the report blueprint!

The report blueprint is just as it sounds; a blueprint from which to build your financials. In this step we will define account groupings and signs(+/-).

Begin by navigating to the ‘Report Builder’ process.

Expand this process and double click to open the ‘Report Blueprint’.

In this report, you will see groups defined in the first column. There are default groups which you can utilize or create your own. To create your own, we will utilize the info pages.

Right click on the Report Builder process and choose ‘View Info Pages’

Here we are going to utilize the ‘Create New Report’ section. Enter a report code and choose a language. Depending on your database, choose the SQL Server only option or the ORACLE only option.

Open the Report Blueprint to see your new report code. In this report you will define the account groupings. For example, our first level (Level 01) is the general account name: Assets.

Our Assets account can then be divided into Current Assets and Fixed Assets (Level 02).

You may stop here, or maybe you need to get more granular. In Level 03 you can see we break up Current Assets into Cash, Accounts Receivables, Inventory and Other Current Assets. The Fixed Assets definition stops at Level 02.

So now we have our levels defined, next step is to associate the account groups. These groups come from the Account Mapping report. A group will be placed in either the ‘Keep Sign’ or ‘Reverse Sign’ column.

In our example, the account groups for Current and Fixed Assets are in the ‘Keep Sign’ column. The previous steps will be repeated for you other account groupings.

After everything is mapped here, we must save the data and publish the report as we did for the Account Mapping report.

To do this, click on the save disk, ‘Save Data’ then ‘Save’.

Close the report. Right click on the Report Builder Process and choose ‘View Info Pages’. Fill in the Report field with your report code and click the update button that matches your database (SQL or ORACLE).

Now you are ready to begin creating your Financial reports!