What is the recommended sequence for scheduling of receipt accounting processes?
The recommended sequence for scheduling the receipt accounting processes is:
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Incoming transactions:
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Transfer Transactions from Receiving to Receipt Accounting process. Interfaces receipt transactions.
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Transfer Costs from Payables to Cost Management process. Interfaces accounts payable transactions.
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Receipt accounting:
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Receipt Accounting Distribution process.
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Clear Receipt Accrual Balances process. Executes only if you have predefined accrual clearing rules. Marks purchase orders for automatic clearing.
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Receipt Accounting Distribution process. Creates distributions for cleared accrual balances.
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Subledger accounting:
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Create Accounting process.
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Reconciliation and reporting:
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Match Receipt Accruals process. Matches purchase order receipt accruals with invoices from the payables application. Perform at period close or as needed for internal reporting and reconciliation.
Note: You can also perform this step before running the subledger accounting process to know the approximate accrual amount for reconciliation. -
Audit Receipt Accrual Clearing Balances process. Audit the General Ledger accounted accrual balances.
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