Fusion-Financial Close (Period Close).pptx

Period Close

1. Close subledgers Monitor enterprise-wide close status. Interact on and finalize outstanding sub-ledger transactions and exceptions Close ledgers Route close tasks to task owners automatically. Collaborate to streamline the close for each entity. Monitor enterprise-wide close status Reconcile accounts Reconcile sub-ledgers to general ledger, automatically matching transactions to entries Pro-forma close ledgers Prepare and review preliminary financial statements. Prioritize outstanding transactions based on initial results Review and confirm financial and management reports Review consolidated results –using the same reports as each subsidiary where applicable – and enter final adjustments Publish and securely share financial statements Distribute financial statements to all interested parties, leveraging collaboration to incorporate feedback Consolidate subsidiaries Transform each subsidiary’s results to the corporate chart of accounts. Revalue non-monetary balances and translate to the corporate currency. Eliminate intercompany activity and minority interest Update financial forecasts Modify forecasts and financial plans in light of the results from the just-closed period > > > > Period Close to Financial Reports Product Mix: ERP Cloud (Financials), EPM Cloud (Account Reconciliation, Financial Consolidation and Close, Narrative Reporting) Popular KPIs: time to close books, time to publish reports Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 1

2. Copyright – © 2020 Oracle and/or its affiliates. All rights reserved. 2 Business Process Flow Service Admin Power User User Viewer Begin End Mark Report Package Complete Define Process & Assign Users Develop doclets & send Package for approval Package Approval View doclets, report package and preview Publish the Report Create Report Package & Add Doclets

3. Copyright – © 2020 Oracle and/or its affiliates. All rights reserved. 3 Establish Data Sources Data Source Establish the direct integration with Oracle EPM cloud services by creating Data Sources for each Application/Cube you want to access. Application Create Sample/Custom Application with Dimensions required only if the data source is a flat file User Service Administrator Identity Domain Administrator Power User Viewer

4. Copyright – © 2020 Oracle and/or its affiliates. All rights reserved. 4 Create Report Package and Add Doclets Add Doclets Create doclets in the report package based on the table of content of the Annual report Create Report Package Create Annual Report package and create & upload a Style Sample document (Word/PDF/PPT) based on the format of Annual Report User Service Administrator Identity Domain Administrator Power User Viewer

5. Copyright – © 2020 Oracle and/or its affiliates. All rights reserved. 5 Define Process and Assign Users Define Process Enable the workflow process for Author Phase, Review Phase and Sign-off Phase Assign Users Assign users for Owner, Reviewer, Signer and Viewer at package level User Service Administrator Identity Domain Administrator Power User Viewer

6. Copyright – © 2020 Oracle and/or its affiliates. All rights reserved. 6 Develop Doclets and Send Package for Approval Develop Doclets Authors work on doclets assigned and submit to Approver (if enabled) and to Reviewer Complete Author Phase RPO marks the Author phase as complete and start the Review phase Review and Approve Doclets Review and provide Comments/Approval for the doclets assigned User Service Administrator Identity Domain Administrator Power User Viewer

7. Copyright – © 2020 Oracle and/or its affiliates. All rights reserved. 7 Mark Report Package Complete Complete Review Phase RPO marks the Review phase as complete and start the Sign-off phase Sign Off Report Provide the final sign off for the report package so that it can be published. No modifications can be made further. User Service Administrator Identity Domain Administrator Power User Viewer

8. Copyright – © 2020 Oracle and/or its affiliates. All rights reserved. 8 Publish the Report Publish Report RPO marks the Report Package as complete User Service Administrator Identity Domain Administrator Power User Viewer

9. Copyright – © 2020 Oracle and/or its affiliates. All rights reserved. 9 Maintenance Audit Perform audit on System or on Artifacts/Folders and can generate System Audit file and Artifact/Folder Audit file Backup & Restore Take complete backup snapshot of existing artifacts and data on daily/ weekly/monthly and use it to restore User Service Administrator Identity Domain Administrator Power User Viewer