Specifying Profile Properties

To specify the properties of a profile:

1. Create a new profile.
2. In the New Profile dialog, click the Properties tab.
3. In Account ID, enter a unique ID for the profile. The combination of segment values must be unique across profiles. The number of segments available is defined in system settings.
4. In Profile Name, enter a name for the new profile. The name is 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.

5. In Description, add an optional description for the profile.
6. Active is selected by default for profiles created manually or imported. Unselect this option if you do not want this profile copied to a period.
   The Active flag will be automatically switched from inactive to active if an updated balance is loaded to an inactive profile. If the balance does not change, then the profile will remain inactive.
7. Select Summary Profile to create a summary profile.
   The Auto-Reconciliation section is removed, and you can't edit balances.
8. For summary profiles, Included Accounts enables administrators and power users to assign profiles to summary profiles. Non-summary profiles can be selected for addition to a summary profile.
9. In Organizational Unit, select the organizational unit that must be associated with this profile.

   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.

10. In Format, select the format that must be associated with this profile.

    Method displays the method associated with the format assigned to the profile. Formats, created by Service Administrators, determine the method of reconciliation and the information that the Preparer must provide.

11. Use Process to associate 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.
12. In Risk Rating, select the risk rating to be associated with the profile.
    Risk ratings are defined in system settings, for example, High, Low, or Medium.
13. In Account Type, select the type of account to associate with the profile.

    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.

    To edit a selected value, click the Clear icon to clear the current setting and then use Search to find and select the account type that must be set.

14. 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.
15. In Auto Reconciliation Method, select a method that describes the conditions that must be true for reconciliations configured with the auto-reconciliation method to qualify for auto-reconciliation. See About Auto Reconciliation Methods for details about the conditions required for each auto reconciliation method.

    If any conditions are false, then auto-reconciliation fails, and the reconciliation status is set to Open so that the Preparer can manually prepare the reconciliation. For more information about auto-reconciliation failures, see Reason Codes for Auto-Reconciliation Failures.

16. In the Maximum Age Limits section, enter the number of days for the maximum age of reconciliation transactions:

    • Reconciliation Adjustments (applies to Account Analysis and Balance Comparison methods)

    • Balance Explanations (applies to Account Analysis method)

    Note:

    Aging Violation: If a value is provided and the reconciliation contains transactions where the age of the items (calculated as Period End Date minus Transaction Open Date) is greater than the value provided, then the transactions are flagged as aging violations, and an aging violation warning is set on the reconciliation.

17. Manually Enter Balances determine whether the source system or subsystem balances can be entered manually by the preparer on the reconciliation. Select these options only if balances are not being imported for the profile. Select one or both:

    • Enter Source System Balances Manually (applies to Account Analysis and Balance Comparison methods)

    • Enter Subsystem Balances Manually (applies to Balance Comparison method)