Extract Reconciliation Data from Receivables to General Ledger

Run the Prepare Receivables to General Ledger Reconciliation process to select data for the Summary section of the Receivables to General Ledger Reconciliation Report.

The extract must run successfully in order to see the most current Summary report, and before you can run the Receivables to General Ledger Reconciliation Report.

Use the following parameters of the Prepare Receivables to General Ledger Reconciliation process to control the Receivables transaction activity that you intend to include in the extract:

• Business Unit

• Include Intercompany Transactions

• Include On-Account Items

• Include Unapplied and Unidentified Receipts

Tip: To avoid unintended reconciling differences, you must ensure that you include or exclude the related accounting activity associated with the Receivables transaction activity included in a given extract.For example, if you intend to reconcile by a specific business unit but don't select the associated primary balancing segment values in the Account parameter, accounting data from other business units belonging to the same ledger will display as differences.

Prepare Receivables to General Ledger Reconciliation Parameters

Request Name

Enter a name that is descriptive of this extract. Consider using a name that indicates the accounting period, date, and time, especially if you’re planning to create multiple extracts.

Note: Enter a unique request name each time you run the extract. If you reuse a request name, then the extract may contain no data.

Ledger

The ledgers available for selection are based on your security assignment. The default is the first ledger in alphabetic order.

Business Unit

Use this parameter if you need to reconcile by a specific organization.

Note: The business unit must be mapped to a balancing segment. If not, you must reconcile by ledger. If you have implicitly mapped your business unit to one or more primary balancing segment values, you will also need to select these values when you run the extract.

Accounting Period

You can select either an Open or Closed accounting period. The default is the latest period in the Closed Pending status, if it exists, for the selected ledger.

You can run the extract on an Open period to see point-in-time summary balances, in order to review possible reconciling activities you may encounter during period close processing. If you select an Open period for reconciliation, users can still enter activity against the period after the extract runs, creating potential discrepancies between the summary and detail information on the report. Best practice is to close the accounting period to be reconciled before you run the extract, and then select this Closed period in the Accounting Period parameter.

Include Intercompany Transactions

You can include or exclude Intercompany transactions, or you can reconcile by Intercompany activity only.

Include On-Account Items

You can include or exclude on-account items. On-account items include on-account receipts and on-account credit memos.

Note: You may want to exclude on-account items if they typically post to non-receivable accounts. If you plan to exclude on-account items, you also need to exclude the related general ledger account in the Account parameter. Therefore, don't post this activity to the same Receivables account as your invoices to avoid reconciling differences.

Include Unapplied and Unidentified Receipts

You can include or exclude unapplied receipts and unidentified receipts. Unapplied receipts are receipts that haven't been applied to a transaction; unidentified receipts are receipts without customer information.

You may want to exclude unapplied and unidentified receipts if they typically post to non-receivable accounts. If you plan to exclude unapplied and unidentified receipts, you also need to exclude the related general ledger account in the Account parameter. Therefore, don't post this activity to the same Receivables account as your transactions to avoid reconciling differences.

Note: Receivables to General Ledger reconciliation doesn’t include miscellaneous receipts.

Account

You can select values from any of the segments of the accounting flexfield. The natural account segment values must have the financial category of Accounts Receivable assigned in your general ledger setup in order for the extract and report to work properly.

If you’re excluding on-account items, or unapplied and unidentified receipts, from your reconciliation, you must also exclude their associated general ledger accounts, if those accounts have the financial category of Accounts Receivable assigned. If they don't have the financial category assigned, by default these accounts aren’t included in your reconciliation.

If you’re reconciling by business unit, select the range of balancing segment values implicitly mapped to your business unit.

If you’re reconciling Intercompany activity, select the range of Intercompany accounts. These accounts must have the financial category of Accounts Receivable assigned.

If you’re reconciling everything, you don't need to select any values. The report automatically selects data for Receivables accounts that have the financial category of Accounts Receivable assigned.