Best Of

Ely, just for more information on this, in case others want need it:

It seems that a much better approach is invoice-level dunning, if the company wants to use different procedures for its different subsidiaries. That way, the same customer's invoice will be evaluated differently by different subs, which is impossible when customer-level dunning is used.

Thanks.

Hi all,

Be careful and watch out for this update which needs to be done manually, we encountered a couple of little nasties that might get you:

1) the current EFT role is copied and all customisations removed - easy to resolve just reinstate the customisations using the changes history and set-up a new custom role, assign to relevant users

2) the Electronic Banking aggregations by default are removed - this little nasty means if you are paying a vendor for 50 bills rather than one payment there will receive 50 separate payments! Make sure you re-check these Aggregate By Payee boxes x 2.

You have been warned! Oracle please add to SuiteAnswers and relevant comms.

Haydn

Hi @User_75YL8,

As documented in SuiteAnswers 31632, one of the key differences between Individuals and Companies is that Individuals do not have the Contacts subtab.

This is designed this way by default.

• If Customer = Company, then the customer can have many Contacts.
• If Customer = Individual, then he is also the contact; this is system design.

If one has many Contacts (Contact Person), then it is suggested to set as Customer = Company.

If you need additional fields to enter alternate emails or phone numbers of individuals, you can create custom fields for these such as Alt. Email-1, Alt. Email-2, Alt. Email-3, & so on and so forth.

Upon further checking in the system, there is currently an existing enhancement logged for this, which you can vote for in the SuiteIdeas page:

• Enhancement # 109341: List > Relationship > Customer > New > Type = Individual: Customer wants the ability to attach a contact record to a customer who is an individual type

Apologies for this system limitation, but I hope this information helps.

If it did, then we would greatly appreciate if you can click "Yes" on “Did this answer your question?” below this comment. Doing so will help other community members who might have the same concern find the answer easier and you will also get closer to earning your next Answer Accepter badge.

-Ivy

Hello @User_75YL8

Pls check your custom role permission for Journal Entry transaction - Full

Using Administrator role, navigate to Setup > Users/Roles > Manage Roles

1. Click edit on the custom Role
2. Permissions tab > Transactions subtab
3. Make Journal Entry  > Set Level to Full
4. Journal Approval > Set Level to Full and
5. Save.

Hello @User_XQ321

Yes by default, the system uses the currency of the parent-subsidiary.

If you have not entered transactions for a subsidiary, you can change the base currency to Editing/delete the Subsidiary Records.

Hello @User_PVAQ9

Pls check your accounting preference:

Check this box to display all transactions in the reconciliation pages, including positive or negative amounts of certain transaction types. 

If you check the box and then reconcile a statement, you cannot clear the box unless you reverse the statement reconciliation.

Hello @Kedalene

No. But you can set up different rate types at the account level. There are three rates available in NS.

Lists - Accounts - Edit/New- General Rate type

The Current rate type is based on the currency exchange rate that is effective at the end of the reported upon period. This rate is the default for most balance sheet accounts.

The Average rate type is calculated from a weighted average of the exchange rates for transactions applied during the period to accounts with a general rate type of Average. This rate is the default for income statement accounts and is used build retained earnings.

The Historical rate type is calculated from a weighted average of the exchange rates for transactions applied during the period to accounts with a general rate type of Historical. This rate is used for equity accounts, or owner’s investments, in the balance sheet.

Hello @User_MC441.

Pls check the below reasons why the New link is not appear

1. Intercompany netting supports only matched and linked intercompany transactions with the same amounts on the payable and receivable sides of the general ledger.
2. Intercompany Journal Entries – There must be only one AP and AR line for each subsidiary-subsidiary-currency to ensure that the lines are nettable.
3. Intercompany Invoice and Intercompany Bill – These transactions are linked through their related purchase order and sales order (arm’s length process inventory transfers). However, these transactions must be matched by having only one invoice and one bill for the same amount, and both must have intercompany entities.
4. Multiple invoices linked to one bill, and multiple bills linked to one invoice appear on the Main subtab but are not nettable. These transactions appear only when the Nettable box is clear. These transactions do not have a related transaction in the Pair column.

Hi @Patrick Fresnosa-Oracle,

I am trying to get the Retained Earnings for the previous month Apr 2022 and it is per Subsidiary.

Below are the details :

Prior Fiscal Year - 6/1/2020 to 05/31/2021

Current Fiscal Year - 6/1/2021 to 05/31/2022

I am trying to reconcile the values first so I will have an idea of how to build the saved search.

Using Answer Id: 89156 -- Retained Earnings Computation as guide, I got the below:

Expected Result : Trial Balance value for Retained Earnings as of previous month for Subsidiary= X,

Apr 2022 =  -12,136,130.39

or start of current fiscal year

Jun 2021 =  -12,136,130.39

Solution :

1. Get the Trial Balance for the end of prior fiscal Year (Subsidiary = X).

Per TB May 2021 =  -8,370,863.85

2. Check if there is a manual journal entry posted on Retained Earnings account for the whole fiscal year.

Transaction Search with the below Criteria:

Posting = T

Period = This Fiscal Year

Account...Type = Equity

Account = Retained Earnings Account showing in Trial Balance

Results

Setting - Consolidated Exchange Rate = None

Actual Result : -5,593,824.54

3. Check the Net Income for the prior fiscal year.

Run Standard Income Statement Report

Period = Custom, From Jun 2020 To May 2021

Subsidiary = X

Net Profit/Loss 3,765,266.54

Calculation :

Per TB May 2021              = -8,370,863.85

Manual JEs          = -5,593,824.54

Net Profit/Loss From Jun 2020 To May 2021 = 3,765,266.54

I just realized the current fiscal year's retained earnings seems to be just the TB May 2021 and Net Profit/Loss From Jun 2020 To May 2021

-8,370,863.85 + - 3,765,266.54 = -12,136,130.39

Will try to check if the same is true for other subsidiaries

Hello @User_75YL8,

Thank you for posting a new thread!

Please allow some time for the members/gurus to check on your concern and get back with more information.

To our members, please feel free to share your thoughts on the thread.

Thank you!