General ledger features
What’s New Heading What’s New Statement
Print financial statements to
Microsoft Excel You can print financial statements to Microsoft Excel. Multiple ledgers for multiple
legal entities Each legal entity has a separate ledger, where you define a chart of accounts, the accounting currency, the reporting currency, and the fiscal calendar for that legal entity. Finance list pages and
Finance reports changes In Enterprise Portal, Finance-related list pages are included in the Sales and Procurement areas. The following list pages use standard list page elements, including Action Panes, FactBoxes, and preview panes: Customer invoices, Unpaid customer invoices, Latest invoiced items, Interest notes, Collection letters, and Vendor invoices.
The following details pages use standard detail page elements, including Action Panes, FactBoxes, and FastTabs: Customer invoice, Interest note, Collection letter, and Vendor invoice. A new Finance reports list page provides access to financial reports in Enterprise Portal.
Shared exchange rates for the General ledger consolidation process
You can define multiple exchange rates between two currencies, and select a currency rate type for each range of accounts and company accounts that is being consolidated. Reporting currency
revaluation The reporting currency is the accounting currency amount multiplied by the exchange rate. The reporting currency must be calculated and revalued, even if the exchange rate to the accounting currency does not change.
General ledger features
What’s New Heading What’s New Statement
Financial analysis cube
enhancements The following changes are included:
Data in the General ledger, Accounts payable, and Accounts receivable cubes can be analyzed as of a specific date.
The currency conversion process that is used to analyze financial cube data in Microsoft Excel has been updated.
The following General ledger KPIs are calculated on the basis of dates, not periods: Average Days Delinquent, Accounts Receivable Days Outstanding, Best Possible Days Sales Outstanding, and Collection Effectiveness Index.
Trend calculations for the following General ledger KPIs have been removed: Average Days Delinquent, Accounts Receivable Days Outstanding, Best Possible Days Sales Outstanding, and Collection Effectiveness Index.
Relieve encumbrances when
you confirm purchase orders When you confirm a purchase order that is generated from one or more pre-encumbered purchase requisition lines, it is posted to the general ledger. Any pre-encumbrances are also relieved. Reason codes for purchase
order transactions You can now add reason codes to the posting transactions for purchase orders. Reason codes help explain why transactions were entered, such as why an order was returned, or why the amount that was received differs from the amount that was ordered.
Record purchase order encumbrances in the general ledger
When you confirm a purchase order, you can record the encumbrances in general ledger accounts, often to accrue liabilities.
Most public sector organizations record encumbrance transactions to record accruals of liabilities for committed, or obligated, purchases. In the General ledger parameters form, you can select the Enable encumbrance processing check box to activate recording in ledger accounts. The ledger accounts that you record in are specified by posting definitions, and they are associated with the purchase order transaction by using the Transaction posting definitions form.
View and track encumbered
amounts on purchase orders When the encumbrance process is enabled, you can view the encumbered amounts, encumbrances that are relieved through invoice processing, and encumbered amounts that remain after invoice processing.
Create reports that display vendor invoices or customer invoices grouped by a selected financial dimension
The Open invoice transactions report and the Sales invoice journal report have been changed. They are now the Vendor invoice transactions report, which is created in Accounts payable, and the Customer invoice transactions report, which is created in Accounts receivable. You can create the reports to display transactions grouped by a selected financial dimension. You can select invoices for both reports by using a variety of criteria. Both reports include options to select invoices by date or date range, and you can display all invoices, only paid invoices, or only invoices that are in an open state.
General ledger features
What’s New Heading What’s New Statement
Create a reconciliation report of purchase order
encumbrances
You can create a reconciliation report that is grouped by the general ledger chart of accounts dimension that you select. This report identifies differences between budget reservations for encumbrances and the corresponding encumbrances that are tracked in the general ledger. You can view either a detailed version of the report or only the differences. The detailed version shows totals by transaction or document number for all encumbrances. The version that displays differences shows only instances where the budget reservation amount for
encumbrances does not balance with the corresponding encumbrance accounts in the general ledger.
Accounts payable payments
and payment clearing You can use posting definitions to record vendor payments for vendor invoices and promissory notes. For example, you can record a vendor payment by posting a vendor payment journal. The vendor payment journal can generate multiple
transactions, using the distributions on the vendor invoice and the posting definitions to support pooled cash accounting. With bridged costing enabled on the method of payment, you can use a clearing account for payments to track checks or warrants that have been issued, but that have not yet cleared the bank.
Simplified calendar options You can use the streamlined Fiscal calendars form to create multiple calendars in Accounts payable, Accounts receivable, General ledger, Project, and Inventory and warehouse
management. Maintain all calendar types, including fixed asset and fiscal year calendars, in one form. You can define multiple closing periods for a specific date, which helps you better track and report on multiple audit adjustments.
Fiscal period enhancements With the many enhancements to the fiscal period functionality, you can now use multiple fiscal years, enter multiple closing periods with the same starting and ending dates, and copy the setup of periods to the next year. You also can change a sequence of months more quickly. Multiple fiscal years are useful if, for example, you have a subsidiary agency that uses a different fiscal year than the rest of your organization, and you enter that agency’s transactions in your company because you do not maintain a separate company for them. To
accommodate these enhancements, the Periods and Fixed asset calendars forms have been removed and fiscal period
functionality is included in the Fiscal calendars and Ledger calendar forms.
Create shared fiscal
calendars for use by different entities
You can create and use calendars that are independent of your organization and shared by multiple legal entities. For example, an organization can create one or more calendars that can be used by different departments, and departments can select among any of the calendars created by the organization.
General ledger features
What’s New Heading What’s New Statement
New Treasurer Role Center The Treasurer Role Center is a default home page that provides an overview of information that pertains to your work, such as your work list, frequently used links, and key performance indicator (KPI) information. It includes two new KPI reports: Treasurer asset analysis and Treasurer liabilities analysis. The treasurer’s Role Center has the same four KPIs that the Role Centers for the controller, CFO, accountant, and accounting manager have, except the reports match the treasurer title: Treasurer profitability analysis, Treasurer operational efficiency, Treasurer short-term solvency, and Treasurer long-term solvency. This Role Center has pie charts for check information and outstanding debt, and a Fixed asset replacements list report. This Role Center uses existing General ledger cube measures and dimensions.
Updates to posting definitions If your organization requires multiple offsetting entries for transactions, you can set up posting definitions that determine the balanced set of ledger posting entries that is generated, based on the originating entry for a transaction. You can set up posting definition versions that have date-effective ranges, and the criteria for matching account numbers can include account structures, dimensions enabled for budgeting, and accounts generated from account rules. Use transaction posting definitions to specify the posting definitions that are used, and to assign them to transaction posting types.
New distributions and budget-related functionality for year-end processing
You can close purchase orders in the fiscal year that is ending, open them in the next fiscal year, and create budget