|
Reconciling Oracle Projects to General Ledger (GL) is one of the biggest challenges facing anyone using Oracle Projects, and is one of the most common issues encountered by our consultants. To date, there has not been an out-of-the-box solution to this problem. Projected Consulting has developed a generic solution for Projects Reconciliation.
It is called Complete Projects Reconciliation or CPR.
Please consider some of the questions below:
Do you have a Projects/GL reconciliation solution?
- How do you reconcile?
- How quickly do you do it and how much resource time does it require?
- To develop, document and test a product like Complete Projects Reconciliation could take between 100 and 150 days
What are you reconciling?
- Is it Payables invoices, receipts, expenses, project expenditure, project revenue?
- Is it both Projects to GL and GL to Projects, or is it Projects to GL only?
- Are you including non-project related transactions? E.g. Fixed Assets, Payroll
- Are you including pre-accounted transactions (journals), entered in Projects?
- CPR processes and outputs all this reconciliation data and displays in summary and detail in any number of reporting tools, like OBI, Discoverer, 3rd Party reporting products
Can you generate a Projects Trial Balance?
- In other words, have you got your GL Trial Balance with Project Number?
- One of CPR’s standard reports is a Project Trial Balance. This removes the need for a Project segment in the GL.
- The other CPR standard reports are:
- Detailed Projects transactions making up GL balances
- Create Receipt Accrual journal to load into Projects
- Compare GL dates with PA dates
- CPR can also generate a Trial Balance by Project Classification Category codes
How often do you reconcile?
- Is it at period end?
- Ad hoc during the month?
- How confident are you that all transactions are reconciled?
- CPR will assist in the analysis and resolution of Projects period end exception reporting
How confident are you that all transactions are reconciled?
- Do you have a mechanism to highlight transactions that have been missed?
- Do you have a process to identify differences and action to reduce or stop?
- CPR will enable the development of a process and mechanism to proactively identify unknown reconciliation issues to resolve and stop
|
Products 