Creating Profiles for Variance Analysis

To create profiles for variance analysis:

1. Select Profiles.
2. Select Actions, and then New.
3. On the Properties tab, enter:

   • Account ID—The combination of segment values must be unique across profiles. The number of segments available is defined in system settings.

   • Name—A second way to identify the profile. Names do not need to be unique. As a best practice, Oracle suggests using the name associated with the natural account segment and some other descriptor that identifies ownership of or responsibility for the profile.

   • Description

   • Active—Selected by default for profiles manually entered or imported. Clear this check box if you do not want this profile copied to a period.

   • Summary Profile—If selected, then the Profile is a Summary Profile.

   • Organizational Unit — Represents a hierarchical entity-type structure that you can use to model your organization. Define a separate organizational unit for each entity for which separate reporting is required, or for entities that require different configurations for any of the following: holidays, work days, or viewer or commentator assignments. Organizational Units are defined in system settings.

   • Format—Associates the profile with a format created by an administrator, determining the method of reconciliation and the information that the preparer must provide.

   • Method—The method associated with the format assigned to the profile.

   • Process—Associates the profile with a specific reconciliation process, for example, the balance sheet reconciliation process or the local GAAP reconciliation process. Processes are defined in system settings.

   • Risk Rating—Associates the profile with a risk rating. Risk ratings are defined in system settings, for example, High, Low, or Medium.

   • Account Type—Associates the profile with an account type. Risk Rating and Account Type are attributes that facilitate reporting – the values are defined by administrators and can be used on dashboards and list views to filter reconciliations.

   • Normal Balance—Identifies whether the profile is expected to contain a debit balance, a credit balance, or a debit or a credit balance. If the balance is different from the normal balance, then a warning is set on the reconciliation.

   • Manually Enter Balances—Determine whether the preparer enters the current period balances and/or the variance period balances. Check these boxes only if balances are not being imported for the profile. Select one or both:

     • Enter Current Period Balances Manually

     • Enter Variance Period Balances Manually