Creating Profiles for Variance Analysis
To create profiles for variance analysis:
- Select Profiles.
- Select Actions, and then New.
- On the Properties tab, enter:
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Account ID—The combination of segment values must be unique across profiles. The number of segments available is defined in system settings.
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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.
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Description
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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.
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Summary Profile—If selected, then the Profile is a Summary Profile.
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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.
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Format—Associates the profile with a format created by an administrator, determining the method of reconciliation and the information that the preparer must provide.
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Method—The method associated with the format assigned to the profile.
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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.
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Risk Rating—Associates the profile with a risk rating. Risk ratings are defined in system settings, for example, High, Low, or Medium.
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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.
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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.
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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:
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Enter Current Period Balances Manually
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Enter Variance Period Balances Manually
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