Oracle General Recurring Journals, Revaluation, Mass Allocation, Tax journals & CVR

1.Why my cross validation rules not working?

·         The desired combination may be already used.

·        The combination entered manually in account combination.

·        If you uncheck the cross validate segments in key flex field segment form.

·        If we uncheck enable check box at define cross validation rule.

           

2.List any six-validation reports of calendar.

• The following periods have a date gap.
• The following periods overlap.

·         The following periods number are greater then the maximum period number for this period.              

·         The following periods number are missing.

·         The following periods number are not in sequential order by date.

·         The following quarters are missing.

·         The following quarters are not in sequential order by period.

·         The following periods start or end rates are more than one year before or after its fiscal year.

3.Briefly explain the steps for Mass Allocation.

Allocation of account balance to the range of segment values for specific period.

Steps for mass allocation.

·         Define parent Segment and assign child ranges.

(N): Setup/Financial/Flex fields/Validation

·         Enter stat journals.

·         Define mass allocation Formula. (N): Journal/Define/Allocation

·          Validate the formula.

·         Generate Mass Allocation.

·         Post the entry.

Q4.Difference between Translation & Revaluation

Translation	Revaluation
Translation is done from functional currency to Reporting currency.	Revaluation is done to know the actual balance on specific date with respect the prevailing foreign exchange rate of a particular account.
In translation Period end rate & Average rates are used.	In Revaluation Only Period end rate is used.
Translation is Optional.	Revaluation is mandatory.
Difference in Translation will be transferred to “Translation adjustment account”.	Difference in Revaluation will be transferred to “Unrealized Gain/loss account”.
Translation should satisfy the conditions, namely, 1. Prior & following period should be opened; 2. It cannot perform for the first period	No Condition is required for revaluation.

5.How do I enable Cross Validation?

Check the Cross validate Segments and Check the Freeze flexfield defination and compile in Key Flexfield segments.

6.Can you define cross validation rules for a set of books?

No, Cross validation rules are specific to chart of account.

7.Can you run revaluation again in a previous period?

Yes, we can run revaluation again in a previous period. But the revaluation will effect the transaction, which are entered after the First revaluation.

8. On what basis auto post criteria set will be created.

On the basis of Priority, Source, Category, Balance type & Period the auto post criteria set will be created.

9.Briefely explain the purpose of Revaluation.

Revaluation is done to know the actual balance on specific date with respect the prevailing foreign exchange rate of a particular account.

10. Is it possible to do Translation for more than one segment at a time?

Yes. In translation you having the option “All” under balancing segment TAB by selecting it we can do the translation for more than one segment.

11. Can you generate Recurring journal more than once in one period?

Yes, recurring journal means Journal, which are repetitive in nature. In a particular period a journal may be expected for more than once .So we can generate Recurring Journal more than once in one period.

12.What are the steps for revaluation?

Steps for Revaluation:

·         Define the daily rate using the conversion rate and type.

·         Define the period end rate.

·         Define unrealized gain /loss account

·         Perform Revaluation for the particular account.

13. Can you allocate part of your cost pool account by using Mass Allocation? If yes, how will you define formula?

Yes, by entering desired amount in the amount column of cost pool A/c. or by entering base number in the amount column of sum of usage factor.

14 What are the available segment types in mass allocation?

Three segment types are available in mass allocation.

Constant (C), Looping   (L), Summing (S)

15.Explain the concept of recurring journals.

Recurring journals means journals, which are repetitive nature in a year. On the basis of amount recurring journals are three types.

·         Skeleton journal

·         Standard journal

·         Formula journal

Skeleton journal means journals have same account but have different posting amounts.

Standard journals means journal entries use the same accounts and amounts in each period.

Formula journal means journal entries use formulas to create journal amounts that vary from period to period.

16.Do you think Translation and Revaluation are mutually exclusive?

Yes, The translation and revaluation independent with each other, there is no           relation between translation and Revaluation. We can have both in a single set of book.       

17.Can I use stat journal of previous period for mass allocation.

Yes, you can use stat journal of previous period by Using amount type as PTD and period type as previous period in mass allocation or by using amount type as YTD and period type is current period you can use the stat journal for the entire year.

18.What is the difference between full and incremental allocation.

  

Full Allocation	Incremental Allocation
Full allocation method to generate journals that reverse previous allocations or to post new allocation amounts.	Incremental allocation method when you want to update allocated balances without reversing the previous allocation batches.
Recommend that you use this method only if you are allocating amounts for the first time, or only once.	Recommend that you do not use the incremental method the first time you generate a Misallocation entry.

19.Is there any difference between definition of period rates and historical rates?

Period rate	Historical rate
The daily exchange rate on the last day of an accounting period	A weighted-average rate for transactions that occur at different times
In translation period end rate is used to translate the assets and liability account balances.	Historical rates to translate owner's equity accounts

Oracle R12 Payment Process Request For Check Printing

NOTE : To create a payment process request with no stops, you will use the following three (3) invoices that you used for the practice entitled Run the Cash Requirement Report:

• XX1001, XX1002, XX1003

Responsibility: Payables, Vision Operations (USA)

1. Navigate to the Payments Manager.

• (N) Payments > Entry > Payments Manager

2. Navigate to the Submit Payment Process Request page.

• (T) Payment Process Requests

• (B) Submit Single Request

Enter Header Information

3. Enter data in the following fields:

? Payment Process Request Name = XX Single Payment Process Request

? Use Template = XXTemplate

Enter Selection Criteria

4. (T) Scheduled Payment Selection Criteria.

5. Data defaults from the template into the following fields:

? Pay From Date = Today’s date or the earliest invoice date of the following invoices: XX1001, XX1002, or XX1003.

? Pay Through Date = Today’s date or the latest invoice date of the following invoices: XX1001, XX1002, or XX1003.

? Payee = XXXXX Corporation

? Payment Method = Check

? Pay Group = XXPay Group

Enter Payment Attributes

6. (ST) Payment Attributes.

7. In the Payment Date field, enter today’s date.

8. Data defaults from the template into the following fields:

? Disbursement Bank Account = XXAP Disbursement

? Payment Document = XXAP Check Stock (Note: The format of the Payment Document must match the format of the Payment Process Profile.)

? Payment Process Profile = Long Check Format

? Payment Exchange Rate Type = Corporate

Specify the Degree of Automation for Payment Processing

9. (ST) Processing.

10. Override the template by changing data in the following fields:

? Stop Process for Review After Scheduled Payment Selection = Uncheck because you do not want the process to stop for this payrun.

? Stop Process for Review After Creation of Proposed Payments = Uncheck because you do not want the process to stop for this payrun.

? Create Payment Instructions = Automatically Initiate When Payment Process Request is Complete

Because neither of the stop check boxes has been selected in the Processing subtab and automatic initiation of the payment instructions has been specified, the XX Single Payment Process Request will run without human intervention.

11. (B) Submit

Find the Newly Created Payment Process Request

12. (T) Payment Process Requests.

13. In the Payment Process Request field (XX Single Payment Process Request), search on your payment process request and (B) Go.

The newly created payment process request displays.

14. (L) Show, which changes to Hide, to view the payment instruction.

15. (B) Refresh Status to view the most recent status of the payment process request.

Print Payment Instructions

16. To print the payment instruction, which in this case, means to print onto a check, (I) Take Action.

17. In the Printer field, select noprint from the list of values.

18. (B) Print to print the check, which represents payment of three invoices; invoice XX1001, invoice XX1002, and invoice XX1003.

Note: Because you specified noprint in the Printer field, you will not actually print the check or take any further action.

View Payment Process Request Details

19. To view the details of the newly created payment process request, click the payment process request name (XX Single Payment Process Request) in the Payment Process Requests page to navigate to the Payment Process Request: <Name> page.

View Payment Details

20. To view details of the payment, (L) Amount.

Note: To view the three invoices you created, click the + (plus sign) to the left of the Documents region.

Record Print Status of Prenumbered Payment Documents

Note: Depending upon your business practice, you may be interested in using a similar dashboard, which is designed to support a payment factory model, where payment processing is centralized. For added experience, you will switch to the Funds Disbursement Process Home, which is an alternate dashboard. Note that the process can be continued from either dashboard.

Since check printing occurs outside of Oracle Applications and has several potential failure points, the system does not know the outcome of printing or reprinting payment documents. Consequently, you need to provide that information to the system through the Record Print Status page. This page enables you to update the print statuses by marking payment documents Printed, Spoiled, or Skipped.

Note: You can only select a print status of Skipped for payment documents that use a paper stock type of Prenumbered.

21. Switch to Responsibility: Oracle Payments Payment Administrator.

22. (L) Funds Disbursement Process Home .

23. Under the Pending Actions region, note that the Payment Instruction has a status of Submitted for Printing.

Note that the Payment Instruction has a status of Submitted for Printing.

24. To view details of the payment instruction you created, click the Take Action icon.

25. (B) Record Print Status to record the print status of the printed check.

26. Check your printer and note that the check printed successfully so there is no spoiled or skipped check to record in the Record Spoiled Payment Documents or Record Skipped Payment Documents regions.

Note: By default, all payment documents are initially displayed as Printed. The exception is payment documents that have been marked spoiled during the reprinting process are displayed as Spoiled in the Record Print Status page.

27. Select the Submit Positive Pay Program Immediately check box.

If the applicable setup enables positive pay, selecting the check box results in submission of the Positive Pay program immediately after you finish recording the print status. The program creates a positive pay file, formats it, and transmits it electronically to your bank. This prevents check fraud by informing the bank which payment documents are issued and for what amount.

28. (B) Continue.

A warning displays regarding confirmation of the print status.

29. (B) Apply if you are sure that all documents with the status of Printed were, in fact, successfully printed.

A confirmation print status displays for your payment instruction.