Month End Close Dashboard

Client Industry - Applicable to all using Oracle Apps

Month End Close Dashboard - One of my client's accouting department wanted to know the close status of GL and other Sub-Ledgers in a single screen in Oracle. Currently Oracle does not have the funtionality to display month end close status collectively for all installed applications in a single screen. Hence a custom form was developed to acheive this functionality.

Business Case - Client needed a form for viewing the close status of P&L and Balance Sheet accounts for each Company in Oracle General Ledger in a Dashboard. The Dashboard will reflect the close status of Oracle Sub-ledgers as well. A Custom Closing Process Dashboard will need to be developed which will be used by the Accounting department for monitoring the close process in Oracle Financials and initiate requisite action based on certain key reports.

Solution Overview - We developed a custom Closing Process Dashboard which will be utilized by Accounting users to monitor the following during close process in the Various Primary Set of Books:
GL Status
View legal entity-wise P&L and Balance Sheet close status for the period selected.

· P&L Accounts
o User to view the P&L close schedule for each legal entity based on the local site closing time
o User to view the P&L close Status for each legal entity in comparison to the close schedule based on the local site’s closing time
o The three Statuses for P&L accounts are as below :
§ Open: P&L accounts fall within the closing schedule
§ Open and Action Required: Journal entries with P&L accounts do not fall within the closing schedule and there are suspense account balances & / or unapproved journals for P&L accounts
§ Close: Journal entries with P&L accounts do not fall within the closing schedule and there are neither suspense account balances nor unapproved journals for P&L accounts
o Display the reason for non-closure (Suspense Accounts and / or Unapproved Journals) of P&L accounts

· Balance Sheet Accounts
o User to view the Balance Sheet close schedule for each legal entity selected based on the local site closing time.
o User to view the Balance Sheet close Status for each legal entity as compared to the close schedule
o The three Statuses for Balance Sheet accounts are as below:
§ Open: Balance Sheet accounts fall within the closing schedule
§ Open and Action Required: Journal entries with Balance Sheet accounts do not fall within the closing schedule and there are suspense account balances & / or unapproved journals for Balance Sheet accounts
§ Close: Journal entries with Balance Sheet accounts do not fall within the closing schedule and there are neither suspense account balances nor unapproved journals for Balance Sheet accounts
o Display the reason for non-closure (Suspense Accounts and / or Unapproved Journals) of Balance Sheet accounts

Sub-Ledger Status
· Legal Entity Level
o User to view the GL period Status for each legal entity and Set of Book and also the close status of all Sub-ledgers for the period selected
· Set of Book Level
o User to view at a Set of Book level the close status of each Oracle Sub-Ledger for the selected period

Suspense Account Balances
· View suspense account balances by legal entity for functional and transactional currency showing MTD, QTD and YTD for both Standard and Average balances
· Suspense account balance reports to be generated everyday and sent to Site & Corporate Approver based on legal entity

Unapproved Journals
· Report to View Unapproved Journals at a Journal Batch level
· Unapproved journal entries report to be generated everyday and sent to Site & Corporate Approver based on legal entity

Audit Reports
· User to view the GL Status details in the form of a report for record / audit purposes