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The holidays are behind you.   Tax reporting is over.   Relaxation is on your horizon.

 

Do yourself a favor and review your date pattern setup now for next year’s calendar.  It’s a simple change now, but once records are posted, it can take many hours to locate and repair records that have been posted to the wrong period.  You will be pulling out your hair as Trial Balance reports, FASTR reports, Companies in Balance Integrity reports and others start showing out of balance issues. 

What types of situations might happen?


  • You might have mis-typed your dates.  Verify that all the period end dates are correct and that none were entered incorrectly with a typing error such as entering January 21 instead of 31.
  • If you use a calendar month end date for the ending date of your fiscal periods, this applies to you.  Next year, 2016, is a Leap Year and February will end on the 29th - not the 28th.  If you forget to setup the February end date to the 29th and you add a transaction with a GL date of 2/29, the system will post it to period 3 instead of period 2, as intended. 
  • If you make a change in your fiscal date pattern as part of a merger, acquisition, or a business need for a different date pattern, a period end date change can have the same impact as an incorrect period end date.

 

In the last two situations, if you generate automatic entries by batch (Offset Method B) for Accounts Payable and Accounts Receivable, the system uses the period-end date from the fiscal date pattern as the G/L date for the automatic entry.  If the period-end date is 2/28, and you post transactions using a G/L date of 2/29, the system assigns 3/31 as the G/L date of the AE.  When you run the Repost Account Ledger program, it corrects only those records with a G/L date of 2/29 to period 2; the AE balancing entry for the batch remains in period 3 because its G/L date is 3/31.  Therefore, the result of running the Repost Account Ledger program  is batches out of balance. To keep the batches in balance, you must identify the AEs and enter journal entries to reallocate the amounts to the proper period.


While you’re in there, go ahead and look at fiscal year 2020, and even 2024 if your date patterns are setup that far ahead, as these are the next Leap Years .  If you move on to a new position, your successor will thank you for having the dates set correctly.

There are several documents to assist you:


  • Ramifications of Leap Year (29 Days in February) in 2012, 2016, 2020 (Doc ID 660105.1) describes how to find and verify the period end dates set up on your system.
  • Finding Batches Posted Out of Balance (Doc ID 662609.1) helps you setup a World Writer report to locate batches where part of the entry is on one period and the AE entry is in another.

 

Don’t let a simple date pattern set up issue set you up for a big headache.

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Has this ever happened to you?  The end of your fiscal year is fast approaching and on top of all the financial closings, you suddenly remember, in the middle of the night, that you have not processed your Fiscal/Anniversary Rollover program.   When you roll over DBA balances at times other than the end of the calendar year, you can use the Fiscal/Anniversary Rollover program, which rolls balances at the end of your fiscal year or an anniversary date associated with your employees.

This program copies history information from your DBA Transaction Detail table (F0609) to the Fiscal/Anniversary Rollover Work file table (F06149), and maintains balances in the Fiscal/Anniversary Year History table (F06147). 

You can process fiscal and anniversary rollovers between payroll cycles (from a menu option) or simplify the process by setting up a rollover program version to run during pre-payroll processing. 

Now for a few things to keep in mind:

  • If you have DBAs that roll over balances at the end of the fiscal year, you should run the rollover program before you process the payroll cycle that includes the first day of the new fiscal year.
  • If you have DBAs that roll over balances on anniversary dates, you should run the rollover program at least once per pay period to ensure that each employee’s balance is rolled over at the appropriate time.  For DBAs that roll over balances on anniversary dates, the date on which you run the rollover program varies for each employee.  The rollover program rolls over balances for only those employees whose anniversary dates are included in the next payroll cycle.
  • Each time you run the rollover program during pre-payroll processing, the system creates the Fiscal or Anniversary Rollover report.

 

 

Don’t let work invade your dreams!   For more information, review Doc ID 627213.1 Setup and Functionality of Fiscal/Anniversary Rollover, and turn your sleepless nights into sleeping like a baby! 

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Control of expenditures is a high priority for most businesses and for many of you that control begins with the purchase order approval process.  You may be familiar with our Purchase Order Approval Process, but did you know that as of JD Edwards release A9.2, the Address Book system Approvals Management functionality has been expanded to accommodate purchase orders?  Approvals Management for Purchase Orders provides for more elaborate designation of approvers, more flexibility in the set of variables on which to base your approvals, and it even has a central workbench so managing approvals for different applications is a snap.

 

Here are some of the functionality highlights for Approvals Management:

  • Approval can be performed by individual approvers, approver groups, or approver routes.
  • Approver Groups can be created requiring approval by just 1 of several approvers, or multiple approvers for a single approval, depending on your needs.
  • Set conditions for order approvals using If/And/Else as well as Greater Than, Equal To, Sum, and other criteria.
  • You can set up calculations with simple mathematical equations to incorporate into rules.
  • The equations can contain addition and subtraction operations applicable to field values in a single record in the purchasing files.
  • Create Rule Sets and use *Release functionality to validate orders against available budgets, obtain the necessary budget approval and then move orders on through additional approvals as required.
  • Easily setup substitute approvers for vacation coverage, or make substitutions permanent for changes in responsibilities.
  • Access Approvals Workbench directly from your email message.

 

For a great overview and demo of this functionality, be sure to mark your calendars and register to attend the LIVE Advisor Webcast on May 19, 2015.  Link to Doc ID 1455377.1 to register now!


For additional information on the Approvals Management functionality as it applies to Procurement:

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