You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

FCCS_Retained Earninngs Prior

in Financial Consolidation and Close 3 comments

Hello Experts,

My client is using a multi-currency FCCS application with historical override amounts. During the year-end closing process, the application correctly rolls the balance from FCCS_RE to FCCS_RE Prior. This value is also recorded in Oracle ERP Cloud (GL) within the respective equity account by Accounting Team.

Currently, in FCCS, they are posting a journal to FCCS_RE Prior (at both Entity Currency) and inputing the respective Override amount to net out the value transferred to Equity in the GL.

Is there a native setup to automate this elimination in January, or is a custom proccess required to handle this adjustments?

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!