Use the Daily Journals window to generate the daily journals for an accounting batch, view the generated journal entries, change the dates or GL accounts for your journal entries, and reallocate suspense journal entries to a GL account.
After you enter and verify all accounting changes for the journal, use the Transfer Journals to GL window to transfer your journals from Treasury to General Ledger. Once you transfer your daily journals to General Ledger, you cannot change any of the accounting for the batch in Treasury.
Use the Daily Journals window to generate daily journal entries for an accounting batch. Daily journals are generated based on the deals in the accounting batch and the journal entry actions that you set up in the Journal Entry Actions window. See: Journal Entry Actions.
Daily journals are generated using the transaction foreign currency and ledger currency equivalent. You can generate journal entries for batches created from revaluation/accrual and cashflow amounts, or for batches created from cashflow amounts only.
After you generate journal entries, you can use the Maintain/Review Journal Details window to review and update your generated journal entries.
Attention: Treasury does not allow creating future dated journal entries. All generated journals reflect events with date that is equal to or less than the system date.
Set the Validation Required for Accounting system parameter. See: System Parameters.
Set up journal entry actions. See: Journal Entry Actions.
Navigate to the Daily Journals window.
Choose the Generate Journals button. The Submit Process to Generate Journals window appears.
Choose a Batch Source of Non-Revaluation/Non-Accrual or Revaluation/Accrual related journals.
Choose a Company.
If this is a non-revaluation/non-accrual batch, you can change the default Cutoff Date for which Treasury creates journal entries.
If this is a revaluation/accrual batch, enter a Batch ID from an authorized accrual batch.
Choose the Submit button. A concurrent request generates the daily journals.
If this is a non-revaluation/non-accrual batch, Treasury automatically generates a Batch ID.
Use the Maintain/Review Journal Details window to view daily journals or change generated journal entries. You can only change generated journal entries for daily journals that have not been transferred to General Ledger.
If you set the system parameter: Validation Required for Accounting to Yes, then the accounting batch process only creates cash flow related journals for validated transactions. However, once the deal is validated, all the interest settlements (not just the first one) are eligible for journal creation.
The accounting batch log file records the transactions that are not validated and therefore did not have cash flow related journal entries created. If the batch creates journal entries for revalued and accrued transactions but related cash transactions are not validated, the log file indicates the creation of unbalanced journal entries. To correct unbalanced journal entries, you must rollback the journal entries created, validate the relevant transactions, and run a new accounting batch.
Additional Information: Settlement authorization for a cash flow is not related to the journal creation for the same cash flow. Settlement authorization makes the cash flow eligible for the inclusion in the payment file that is then sent to the bank.
Generate daily journals. See: Generating Daily Journals.
Navigate to the Daily Journals window.
Query or enter the journals that you want.
If you use the Find Journals window to query journals, check or uncheck the Include Batches Created from Revaluation/Accrual box to include or exclude Revaluation/Accrual batches.
Note: If you query batches using the Find Journals window, subsequent queries that you run in the Daily Journals window only operate on these batches.
Choose the journal that you want to view or change, then choose the Maintain/Review Journal Details button. The Maintain/Review Journal Details window appears.
If the journal was not transferred to GL, you can update the Journal Date or the GL Account. If you update the Journal Date, Treasury recalculates the ledger Debit and Credit Amounts.
Updating the Journal Date carries these restrictions:
You cannot enter a date on which there is no daily exchange rate available in your company's exchange rate type between the transaction currency and the ledger currency.
You cannot enter a date that falls within a closed GL period.
Add or change Comments as needed.
Save your work.
If you want to reallocate entries from a company suspense journal to a General Ledger account, use the Suspense Journals window. For more information on suspense journals, see: Company Profiles.
Create a suspense journal. See: Company Profiles.
Navigate to the Daily Journals window.
Query the company for which you want to reallocate the suspense journals.
Choose the Reallocate Suspense Journals button. The Suspense Journal window appears with a list of all journal entries posted to the suspense account.
Choose the journal entry that you want to reallocate.
In the Allocate to GL Account field, enter the General Ledger account number that you want to reallocate the entry to.
Save your work.
After successfully completing all of the steps in the accounting process, transfer your daily journal batches to General Ledger. Before you perform this step, you must ensure that you have entered and verified all accounting changes. Once a journal is transferred to General Ledger you cannot make any further changes. If a deal changes after you transfer to GL, you must create a reversal and a replacement journal.
If your journal batch contains entries with journal dates that fall into a closed GL period, you can optionally post these entries to the next open GL period. If you choose this option, Treasury maintains a record of both the actual journal date and the new posting date.
You can choose to allow the transfer of unbalanced journals to GL. You control this option by setting the company parameter Accounting - Allow Unbalanced Journal Transfer (Yes/No) in the Company Profiles window.
The system will also issue a warning if the journal batch that you are about to transfer spans more than one accounting period defined in General Ledger.
Daily journals are transferred to General Ledger in both the transaction currency and the ledger currency equivalent. The rate used to calculate the ledger currency equivalent is fetched from the GL Daily Rates table. This calculation takes place when you generate daily journals.
Set the company parameters Accounting - Journal Transfer in Closed Period and Accounting - Allow Unbalanced Journal Transfer. See: Company Profiles.
Generate daily journals. See: Generating Daily Journals.
Navigate to the Daily Journals window.
Click on Transfer Journals button.
Select your company and batch ID that you would like to transfer. Move the cursor to the Transfer to General Ledger region. The journal entries that are a part of the batch will be shown.
If the system parameter, Allow repeated transfers of the transferred journal batches to General Ledger, is set to Yes, the Batch ID LOV shows both the transferred as well as non-transferred batches. If set to No, then it shows only those batches which are not yet transferred to General Ledger.
Attention: Once a batch has been transferred to General Ledger, you cannot un-authorize, make changes, or delete the batch or modify deals included in this batch. Make sure you are completely satisfied with the journal entries before transferring them to General Ledger.
If your journal batch contains entries with journal dates that fall into a closed GL period, use the Journals in Closed Period choice list to control the posting of these entries. Choose Next Open to post these entries to the next open GL period, or No Change to post these entries with the closed period date.
The default value in the choice list depends on the setting of the company parameter Accounting - Journal Transfer in Closed Period in the Company Profiles window. You can change the default value.
Choose the Transfer Journals button. If you are transferring an unbalanced journal, Treasury displays a warning message. If you set the company parameter Accounting - Allow Unbalanced Journal Transfer to Yes, you can allow the transfer of the unbalanced journal. A concurrent process transfers the accounting batch to General Ledger. You can view the progress of the transfer in the Requests window. For more information on concurrent requests, see: Reports and Inquiries.
Use the Journal Entry Actions window to view the set up information for your daily journals.
In the Daily Journals window, select the Setup Journals button. The Journal Entry Actions window appears. For more information, see: Journal Entry Actions.
Use the Streamline Accounting Process to automate the routine accounting closing process for deal revaluation, hedge effectiveness testing, accruals, generating journals, and transferring journals to the general ledger into a single process. You can link any or all of the steps together in a sequence and run in a concurrent program which executes each individual accounting process for the specified company or companies. You can schedule the concurrent program in batch mode during non-business hours without any user intervention.
You can run the Streamline Accounting Process for either a single company or for all the companies available based on your user access level. A separate concurrent request is submitted for each company you have access to. Each company has its own concurrent request log which lists warning messages and error messages. If there are any warning messages or error messages, you need to review the concurrent request log to determine the error.
Use the Submit Request window to run the Accounting Streamline Processing Program. For more information, see: Submitting Requests.
Report Parameters
Company: The treasury companies you have access to as defined by the User Access Level. If the field is left blank, the system processes all treasury companies that you have access to.
Batch End Date: The batch ending date. The default is the current system date.
Start Process From: The starting point for the accounting process. The choices are:
Revaluations: Start process from revaluation rates capture.
Retrospective Testing: Start process from retrospective hedge effectiveness testing.
Accruals: Start process from accrual generation.
Daily Journals - Generation: Start process from journal generation.
Daily Journals - Transfer to GL: Start process from journal process.
Attention: The company parameter Accounting - Perform Deal Revaluation affects the results of the Streamline Accounting Process. If you set the parameter to No, no revaluations would be performed by the program.
End Process After: The ending point for the accounting process. The choices are:
Revaluations: End process after revaluation details are authorized. This value can be selected if the Start Process From is Revaluations.
Retrospective Testing: End process after retrospective hedge effectiveness testing details are authorized. This value can be selected if the Start Process From is Revaluations or Retrospective Testing.
Accruals: End process after accrual details are authorized. This value can be selected if the Start Process From Revaluations, Accruals or Retrospective Testing.
Daily Journals - Generation: End process after journals are generated. This value can be selected if the Start Process From is Revaluations, Accruals, Retrospective Testing or Daily Journals - Generation.
Daily Journals - Transfer to GL: End process after journals are transferred. This value can be selected for any of the Start Process From options.
Warning: Verify your work before you transfer the journal entries to General Ledger. It is important to review the accounting information before you transfer journals, because once a journal is transferred to General Ledger, you cannot make any changes to the journal.
Journals in Closed Periods: Sets the method to handle journal entries that fall into a closed period. This field is enabled only if the End Process After parameter is set to Daily Journals - Transfer to GL. The choices are:
No change: The journal entry date is left as is and transferred to General Ledger.
Next open: The journal entry is the first date of the first open accounting period and then transferred to General Ledger.