Period Close Components
While implementing your accounting configuration, optionally define and maintain period close components, including allocations and periodic entries, revaluations, and historical rates.
In the Setup and Maintenance work area, use the following:
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Offering: Financials
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Functional Area: General Ledger
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Tasks:
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Manage Allocations and Periodic Entries
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Manage Revaluations
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Manage Historical Rates
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Manage Allocations and Periodic Entries
The Manage Allocations and Periodic Entries task opens the Enterprise Performance Management workspace. From there, you can navigate to Calculation Manager to create allocations and other formula journal templates for generating periodic journal entries automatically. Calculation Manager is a framework for defining allocation rules and formulas using a graphical interface and intuitive step-by-step wizards. You can base formulas on multiple criteria.
You can also open Calculation Manager from within the Journals work area by clicking the Create Allocations Rules task from the Tasks pane.
Manage Revaluations
Revaluation is done to adjust foreign entered amounts due to currency fluctuations. Use the Manage Revaluations task to define currency revaluation options, such as the range of accounts to revalue and the gain or loss accounts. On the Manage Revaluations page, define and generate your revaluation definitions.
Manage Historical Rates
Historical rates are user calculated and specified weighted average translation rates for transactions that occur at different points in time and posted to a given account. The application uses historical rates to calculate the conversion rate on equity or other historical account balances during foreign currency translation of the balance sheet. You can define historical rates using a file-based data import (FBDI) template or a desktop-integrated Excel workbook.
To access the FBDI template, open the Oracle Fusion Cloud Financials File-Based Data Import (FBDI) for Financials guide in the Oracle Help Center (https://docs.oracle.com). You can find the Historical Rates Import template in the General Ledger section.
To access the workbook, use the Manage Historical Rates task in the General Ledger functional area in the Setup and Maintenance work area. Select the Historical Rates tab on the Currency Rates Manager page.
Create historical rates by specifying the required ledger and other optional fields, as needed. Click Create in Spreadsheet to open the spreadsheet for uploading. To update existing historical rates for your ledgers, click Edit in Spreadsheet. The spreadsheet is prepopulated with the existing historical rates. Click Review in Spreadsheet to view historical rates.