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Oracle U.S. Federal Financials User Guide
Release 12.1
Part Number E13551-04
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FACTS I Procedures

FACTS I Procedures

The Department of Treasury established the Federal Agencies' Centralized Trial Balance System (FACTS I) to require federal agencies to submit a preclosing adjusted trial balance at the end of each fiscal year.

The Oracle U.S. Federal Financials FACTS I feature collects information and enables agencies to submit reports online. You can also submit a report by transferring a file that eliminates the need for submitting these Federal Agency Financial reports:

FACTS I Required Files

Master Appropriation File (MAF)

The MAF lists the valid appropriation codes that can be reported on by an agency. A separate MAF must be created for each business line within an agency.

Adjusted Trial Balance (ATB)

The ATB contains the preclosing balance records for each of the U.S. Standard General Ledger (US SGL) accounts, including assets, liabilities, equity, revenue, and expenses, reported on by an agency. The ATB is the source file that the Treasury FRB uses to produce the preclosing adjusted trial balance report for an agency at year-end.

NOTES

The NOTES report contains textual information and balances to support the adjusted trial balance. It replaces the SF 220-1, Additional Financial Information report.

Examples of notes includes:

Only one NOTES report is required and accepted for each business line that the agency delineates. The NOTES report must include information concerning all of the ATBs that are rolled up into a business line. One or more ATBs can be associated with one set of NOTES.

Generating FACTS Processes

  1. Navigate to the Submit Request window.

  2. In the Name field, select the process you want to run.

  3. Enter the required parameters.

See: Using Standard Request Submission, Oracle Applications User Guide

FACTS I Federal Accounts Creation Process

The FACTS I Federal Accounts Creation process identifies and stores accounts as Federal or Either Federal or Non-Federal, which is used in FACTS I Journal Creation Process to select Journal Lines. You can also re-run this process when the following occurs:

The process produces an output file that shows the account numbers and their category and any changes made to the category since the last run. This process launches the Journal Creation Process automatically if new accounts are identified since the last submission and the FACTS I Journal Creation process has already been run for the same ledger and period.

FACTS I Customer Class Code Update Process

The FACTS I Customer Class Code Update process is optional. You should run this process when there are changes to the customer class code or the trading partner or both in the Define Customers window. This process updates the existing journal lines that are stored by the FACTS I Journal Creation process.

Prerequisites

You must have run the FACTS I Journal Creation process prior to running the FACTS I Customer Class Code Update. If you make changes to a customer prior to running the FACTS I Journal Creation process, then you don't need to run the FACTS I Customer Class Code Update.

FACTS I Vendor Type Update Process

The FACTS I Vendor Type Update process is optional. You should run this process should when there are changes to the vendor type or the trading partner or both in the Define Suppliers window. This process updates the existing journal lines that are stored by the FACTS I Journal Creation process.

Prerequisites

You must have run the FACTS I Journal Creation process prior to running the FACTS I Vendor Type Update. If you make changes to a supplier prior to running the FACTS I Journal Creation process, then you do not need to run the FACTS I Vendor Type Update.

FACTS I Journal Creation Process

The FACTS I Journal Creation process selects and stores journal lines up to the period selected with the subledger information, such as vendor ID, vendor type, customer ID, customer class, and trading partner for accounts that are identified as ‘Federal’ or ‘Either Federal or Non-Federal’ in the FACTS I Federal Accounts Creation process.

You can run this process any number of times as this process selects journal lines posted for the fiscal year since the last time the process was run, up to the period selected. You can also launch this process from the FACTS I Interface by selecting Y for the Run Journal Creation parameter.

The process produces an output file for journal lines that do not have supplier, customer, or the subledger information.

Prerequisites

You must have run the FACTS I Federal Accounts process.

FACTS I Interface Process

On a yearly basis, users submit the FACTS I Bulk file by running the FACTS I Interface process. All applicable SGL accounts, account balances, and attributes are selected.

This is the FACTS I main process and users should run this process whenever they need to produce FACTS I ATB Report and/or Consolidated Financial Statement for a period.

This process will also produce the following reports:

You can run this process only for periods in which journals were processed in the FACTS I Journal Creation process. For example, if the FACTS I Journal Creation process was run for March of a fiscal year, the FACTS I Interface can only be run for periods up to March in that fiscal year.

If discrepancies exist for any US SGL account balance, the account and the balance are printed on the FACTS I Exception Report. The FACTS I Exception Report Description table provides a complete list of FACTS II exception categories.

A series of edit checks are performed before the FACTS I bulk file record layouts are completed. If there are failed edit checks, the FACTS I Detail Report is automatically printed. TheFACTS I Detail Report Description table describes the FACTS I Detail Report.

Agencies can use the FACTS I Exception Report, the Edit Check Report, and the Detail Report to reconcile reported amounts against General Ledger.

Related Topics

FACTS I Process

Generating FACTS Interface Process

  1. Navigate to the Submit Request window.

  2. In the Name field, select FACTS I Interface.

  3. In the Ledger field, select a ledger.

  4. In the Run Mode field, select Period (R) or Year (Y).

  5. In the To Period field, select the periods for which the Journal Creation process was run.

  6. In the Fiscal Year, select the periods for which the Journal Creation process was run.

  7. In the Run Journal field, select either Y or N.

  8. In the Generate Reports field, select either Y or N.

    Note: If your select Y, then all four reports are generated. If N is selected, then FACTS I Exception and Detail Reports, when Edit Check fails, are generated.

Running the FACTS I Interface process in Year Mode

Related Topics

Using Standard Request Submission, Oracle Applications User Guide

Prerequisites

Related Topics

Treasury Account Codes Setup,Oracle U.S. Federal Financials Implementation Guide

Federal Account Symbols Setup ,Oracle U.S. Federal Financials Implementation Guide

Defining Appropriation Parameters ,Oracle U.S. Federal Financials Implementation Guide

Define Oracle Purchasing Lookups,Oracle U.S. Federal Financials Implementation Guide

Federal System Parameters Setup,Oracle U.S. Federal Financials Implementation Guide

Federal Reports Table Setup,Oracle U.S. Federal Financials Implementation Guide

Federal Report Definitions Setup

Defining Customer Class Setups, Oracle Receivables User Guide

Entering Customers, Oracle Receivables User Guide

Entering Suppliers, Oracle Payables User Guide

Entering Journal Lines, Oracle General Ledger User Guide

FACTS I Exception Report Description

The FACTS I Exception Report is printed automatically during the FACTS I procedure.

The following table describes the heading section of the FACTS I Exception report description, SGL Account Exceptions.

FACTS I Exception Report Description, SGL Account Exceptions
Column Description
Header Section Run mode, fiscal year, to period, Ledger
Proprietary Account not defined on FACTS Attributes Exception: Neither the account nor the US SGL account is defined in the Define FACTS Attributes window, and is not reported in FACTS I.
Solution: Either the account or the US SGL account must be defined in the Define FACTS Attributes window to be reported in FACTS I.
Not a Valid US SGL Account Exception: The account is not defined in the Define US SGL Accounts window and is not reported in FACTS I.
Solution: Either the account or the parent of the account must be defined in the Define US SGL Accounts window to be reported in FACTS I.
US SGL Account has been Disabled Exception: The account or parent account was disabled in the Define US SGL Accounts window and is not reported in FACTS I.
Solution: Enable the account in the Define US SGL Account window or record the amount in a different account to be reported in FACTS I.
Account has Multiple Parents defined Exception: The account has multiple US SGL parents defined in General Ledger and is not reported in FACTS I.
Solution: The account must only have one US SGL parent defined in General Ledger to be reported in FACTS I.
Not a FACTS I Account Exception: The US SGL Account is defined as a FACTS Reporting Type of II in the Define US SGL Accounts window and is not reported in FACTS I.
Solution: Change the FACTS Reporting Type to I or I and II to be reported in FACTS I.
Treasury Symbol has not been Defined Exception: The fund value has not been assigned to a treasury symbol in the Define Appropriation Parameters window and is not reported in FACTS I.
Solution: Associate the fund value to a treasury symbol in the Define Appropriation Parameters window to be reported in FACTS I.

The following table describes the FACTS I Exception report, Missing Attribute Exceptions.

FACTS I Exception Report Description, Missing Attribute Exceptions
Column Description
Supplier or Customer could not be determined Exception: The Supplier or Customer cannot be determined for the transaction posted to General Ledger.
Solution: The transactions are reported in FACTS I with default values. If the Federal/Non-Federal Attribute is set to Federal in the Define FACTS Attributes window, the F/N indicator and Trading Partner is set to F and 00 respectively in FACTS I. If the Federal/Non-Federal Attribute is set to Either Federal or Non-Federal in the Define FACTS Attributes window, the F/N indicator is set to N and the Trading Partner is left blank in FACTS I.
Federal/Nonfederal Attribute set to F with a Nonfederal Supplier or Customer Exception: The Federal/Non-Federal attribute is set to F in the Define FACTS Attributes window, and the Supplier or Customer is not defined as Federal for the transactions posted to General Ledger.
Solution: The transactions are reported in FACTS I with the F/N indicator and Trading Partner set to F and 00 respectively.
Current Fiscal Year Beginning Balance Difference Exception: The beginning balance in General Ledger for the fiscal year the FACTS I Interface is submitted is different than the ending balance for the FACTS I interface run for the previous fiscal year.
Solution: The difference is reported in FACTS I with default values. If the Federal/Non-Federal Attribute is set to Federal in the Define FACTS Attributes window, the F/N indicator and Trading Partner is set to F and 00 respectively in FACTS I. If the Federal/Non-Federal Attribute is set to Either Federal or Non-Federal in the Define FACTS Attributes window, the F/N indicator is set to N and the Trading Partner is left blank in FACTS I.
Value for Subfunction must be specified Exception: The Budget Subfunction value is not found for the fund value and is not reported on FACTS I.
Solution: The correct value must be entered in the Subfunction Description field for the fund value in the Define Appropriation Parameters window.
Value for Exchange/Non-exchange revenue must be specified Exception: The Exchange/Non-exchange field on FACTS Attributes has the value Either Exchange or Non-exchange for the account and is not reported on FACTS I.
Solution: The account must have the value X for Exchange or T for Non-exchange in the FACTS Attributes window to be reported on FACTS I. Correct the account in the FACTS Attributes window by either selecting the appropriate value in the Exchange/Non-exchange field or by adding child accounts with the appropriate Exchange/Non-exchange value. The child account must be defined in the FACTS Attributes window with the correct values for Custodial/Non-custodial Budget Subfunction and Federal/Non-federal attributes as defined for the parent US SGL account.
Value for Custodial/Non-custodial must be specified Exception: The Custodial/Non-custodial value is not found for the Treasury symbol and is not reported on FACTS I.
Solution: The correct value must be entered in the Custodial/Non-custodial field for the Treasury Symbol in the Define Appropriation Parameters window.

FACTS I Edit Check Process

The FACTS I edit check process occurs automatically when the FACTS I procedure is performed. The edit check process certifies that debit entries equal credit entries for each treasury account code reported in FACTS I. If there are failed edit checks, the FACTS I Detail Report is automatically printed as described in the FACTS I Detail Report Description table.

FACTS I Detail Report Description

The FACTS I Detail Report is printed automatically during the FACTS I procedure.

The FACTS I Exception Report is described in the following table.

FACTS I Detail Report Description
Field Description
Header Section Run mode, fiscal year, period, ledger name, date, and page
Treasury Account Code Main account code of the treasury symbol or FACTS I Rollup Treasury account code
Dept. Code Federal department identifier
Bureau Code Bureau identifier
Fund Balancing segment
US SGL Account U.S. Government Standard General Ledger account
Account Natural account
F/N Indicator Customer class or supplier type on the Customer or Supplier Record; includes F for Federal and N for Non-Federal

Note: If there is no customer or supplier record, the indicator is determined from the Journal Trading Partner Descriptive Flexfield; assigns F if there is a value in Journal Trading Partner; otherwise assigns N.

Trading Partner Descriptive flexfield located at the header record of the Supplier or Customer window or at the detail record of the Journal Lines window
Debit Debit balance in account
Credit Credit balance in account
Fund Total Summation of fund debits and summation of fund credits
Treasury Account Code Total Grand total of all fund debits and grand total of all fund credits for the treasury account code

FACTS I Adjusted Trial Balance Bulk File Transfer Format

The following table describes the FACTS I Adjusted Trial Balance report.

FACTS I Adjusted Trial Balance Bulk File Transfer Format
Field Description
Fiscal Year Fiscal year in which the ending SGL balances are reported; required
Department Code Treasury department code associated with the adjusted trial balance fund group; must be consistent with the MAF ATB code; required
Bureau Code Bureau code associated with the adjusted trial balance fund group; must be consistent with the MAF ATB code; required
Fund Group MAF fund group; required
SGL Account Number Standard General Ledger account number; required
Federal/Nonfederal Attribute Indicates F for Federal and N for Non-Federal
Federal Trading Partner Treasury department code of federal trading partner
Debit/Credit Indicator Indicates debit or credit; required
Dollar Amount Dollar amount; last two positions assumed decimal; required
First Attribute Delimiter Must be 1
Exchange/Nonexchange Attribute Exchange/Nonexchange attribute. Values include X for Exchange and T for Nonexchange.
Second Attribute Delimiter Must be 2
Budget Subfunction OMB Budget Subfunction
Third Attribute Delimiter Must be 3
Custodial/Non-custodial Attribute Custodial/Noncustodial attribute. Values include S for Custodial and A for Noncustodial.