slide1 l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Alfredo Pantaleon Professional Services Chris Martin Regional Sales Manager January 24 th , 2006 PowerPoint Presentation
Download Presentation
Alfredo Pantaleon Professional Services Chris Martin Regional Sales Manager January 24 th , 2006

Loading in 2 Seconds...

play fullscreen
1 / 22

Alfredo Pantaleon Professional Services Chris Martin Regional Sales Manager January 24 th , 2006 - PowerPoint PPT Presentation


  • 152 Views
  • Uploaded on

Automated Month-End Close Process (AMCP). Alfredo Pantaleon Professional Services Chris Martin Regional Sales Manager January 24 th , 2006. Agenda . Challenges Benefits Feature Summary Solution Overview Solution Demonstration and Review Q&A. Challenges . Complexity

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Alfredo Pantaleon Professional Services Chris Martin Regional Sales Manager January 24 th , 2006' - tangia


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1

Automated Month-End

Close Process (AMCP)

Alfredo Pantaleon

Professional Services

Chris Martin

Regional Sales Manager

January 24th, 2006

agenda
Agenda
  • Challenges
  • Benefits
  • Feature Summary
  • Solution Overview
  • Solution Demonstration and Review
  • Q&A
challenges
Challenges
  • Complexity
    • Numerous Modules (INV,OM,PO,AP,AR,GL)
    • Numerous Inter-Dependencies
    • Interface Table Processing
    • Personnel and Coordination
  • Timing
    • Compressed
    • Coordinated
    • Critical Path Processing
  • SEC/SOX
    • Contemporaneous Audit
    • Timeliness of Reporting
typical month end close
Typical Month end Close
  • Frenetic
  • Confusing
  • Frustrating
  • Labor Intensive
  • Lengthy/Delayed
  • Non-deterministic
  • Difficult to Audit
risks and ramifications
Risks and Ramifications
  • Financial Reporting Accuracy is Compromised
    • Manual Processes are error prone
    • Stuck transactions are forced/dropped
    • No time or process for parallel audit
    • Unclosed periods allowing back transactions
  • Financial Reporting is Delayed
can you benefit
Can you Benefit?
  • Do you have adequate time to properly review interface table rejects?
  • Is there a lengthy delay between the close and issuing statements?
  • Does your close process span many days?
  • Are there a large number of manual journal entries to record transactions or make adjustments?
  • Is there a high dependency on spreadsheets to record accounting transactions or support manual journal entries?
  • Are you subject to compliance legislation such as SOX?
  • Is there a history of restatements?
  • Limited time for financial and operational analysis?
key advantages
Key Advantages
  • Quick Time-to-value
    • Configuration vs. customization
    • Seeded processes leverage Oracle best practices
    • Seamless deployment into Oracle 11i E-business Suite
    • Leverages Oracle supported extensions and APIs
  • Flexible and Extensible
    • Processing Steps can be added, removed, modified, and rearranged
  • Robust
    • Support Multiple Operating Units
    • Supports Multiple Inventory Organizations
solution definition and objective
Solution Definition and Objective

An automated month-end close process (AMCP) leveraging the GUI-based configurability of the LogicalApps Suite and supporting Oracle technology, e.g., workflow.

Objective:

  • Streamline the close process through automation
    • Reduce the effort
    • Reduce the time/duration
  • Improve accuracy and consistency
  • Improve visibility
  • Support contemporaneous audit
feature summary
Feature Summary
  • Define notification recipients
  • Automatic Reporting
  • Expandable
  • Configurable
  • Multi-Org
  • Modular design
  • Activity notification
  • Task Approvals
  • Interface checking
  • Re-submittal of interface errors
  • Automatic period open and closing
  • Parallel processes
main process

Inventory Pre Close Rpts

Main Process

Global Workflow Started

Distribution Pre Close

Inventory Close

Inventory Post Close

Receivables Close

OM Close

AR Close Rpts

Payables Close

General Ledger Close

Purchasing Close

PO Close Reports

General Ledger Close Rpts

general ledger close reports
General Ledger Close Reports
  • Standard GL closing reports

General Ledger Close Reports

Trial Balance - Detail

General Ledger - (180 Char)

inventory pre close reports
Inventory Pre Close Reports
  • Process runs reports necessary for beginning the close process. For companies with many organizations this process runs the report for each organization

Inventory Pre Close Rpts

All Inventory Value Reports

Intransit Value Reports

payables close
Payables Close
  • Validate distributions
  • Transfer to GL
  • Complete Accruals
  • Automatically close AP period and open the next period

Payables Close

Payables Accounting Process

Payables Pre-Transfer Review

Payables Transfer to General Ledger

Unposted Invoice Sweep- Notification

Manage AP Periods

Run AP Trial Balance

Expense Period End Accruals

Complete Receipts Accrual

inventory close
Inventory Close
  • Closes open inventory Periods for each organization
  • Opens the next inventory Period for each organization

Inventory Close

Close Inventory Periods

inventory post close

Inventory Post Close

Inventory Post Close
  • Runs Post close reporting for inventory valuations for each organization

Intransit Inventory Reports

Period close value summary

Inventory Value Report

Subinventory Account Value

om close
OM Close
  • Process for adding any company specific Month End Sales reporting

OM Close

purchasing close
Purchasing Close
  • Process runs task for receiving and Purchasing.
  • Accruals
  • Purchase price Variance
  • Invoice price Variance
  • Closes the Purchasing period and opens next period.

Purchasing Close

Uninvoiced Receipts Report

Purchase Price Variance Report

Approve PO Period Close

Manage PO Periods

Check that PO Period is Closed

Accrual Rebuild Reconciliation Report

purchasing close reports
Purchasing Close Reports
  • Process is defined so that additional reports may be added here.
  • This process will run the report once per Organization

PO Close Reports

solution overview
Solution Overview
  • Configuration form to determine owners of business areas
  • Launch close process for the GL periods form
slide20
Cont…
  • Close process will only launch for eligible periods
  • Process initiates an Oracle Workflow where all processes are visible
slide21
Cont..
  • Workflow notification begin sending to inform recipients of interface records in error, reports that have run, approval for period close or open.
slide22
Q & A

Presentation Requests:

webinars@logicalapps.com

949-453-9101

Solution information:

  • Daryl Geryol – Director of Professional Services

dgeryol@logicalapps.com