http://learnhyperion.wordpress.comHyperion Financial Management             MANAGING JOURNALSProvided By: BISP            ...
http://learnhyperion.wordpress.comthe application and indicate the accounts, entities, and periods that wereaffected.Why u...
http://learnhyperion.wordpress.com      Minority interest accounting entries      Elimination of adjusting entries     ...
http://learnhyperion.wordpress.comThe approval process is covered later in this lesson.  Sr. Accountant/ Financial Analyst...
http://learnhyperion.wordpress.comstored in the Entity Currency member of the Value dimension. When you postadjustments fr...
http://learnhyperion.wordpress.comWhen we want to work with journal, The Workspace is the Centralized placewhere we will g...
http://learnhyperion.wordpress.com Using the Templates Process Pad on the Desktop The Journal Templates process pad is a b...
http://learnhyperion.wordpress.comTO WORK WITH JOURNAL THE FIRST THING YOU NEED TO DO IS OPEN APERIOD.Accessing JournalsIn...
http://learnhyperion.wordpress.comUsing Journal TemplatesYou can create journal templates to save time when you enter jour...
http://learnhyperion.wordpress.comcontains information such as common entities or accounts, and use thetemplate as the bas...
http://learnhyperion.wordpress.com    4.The label can be a maximum of 20 characters. Do not include spaces in      the lab...
http://learnhyperion.wordpress.comTo modify a template, you must have All access to the security class assignedto the temp...
http://learnhyperion.wordpress.comClick SAVEIn case of any error it will pop up a new window and will inform, otherwise it...
http://learnhyperion.wordpress.comAfter setting the point of view, click the New button to display the NewJournal page. Yo...
http://learnhyperion.wordpress.comJournal Review Process    Users review and submit journals. The journals are submitted ...
http://learnhyperion.wordpress.comIt is important to note that if you have the Post Journals security role, and theperiod ...
http://learnhyperion.wordpress.comViewing Adjustments Using the Entity Details ReportYou can use the Entity Details report...
http://learnhyperion.wordpress.comDETAILED WORK FLOW :Step 1:Open the Period.Hyperion 11.1.1.3 | Journal |Created by : Rup...
http://learnhyperion.wordpress.comStep 2:Create a New JournalThe Journal Type -      a. Standard.      b. Recurring.And wh...
http://learnhyperion.wordpress.comWhether we will use any Journal template or use a new Blank Journal.Step 3:Now we need t...
http://learnhyperion.wordpress.comStep 5Save the Journal.Step 6:After creation of Journal the next options available are  ...
http://learnhyperion.wordpress.comAfter The higher authority approve this journal the Working status changed toSubmitted.W...
http://learnhyperion.wordpress.comDuring the review process , the incorrect journal can be unposted.When any journal unpos...
http://learnhyperion.wordpress.comWhen we unpost this journal , it reverts back and the “Entity CurrencyAdjustment” goes t...
http://learnhyperion.wordpress.comNavigate Application>Administration>ManageDocument>DataGrids.Create one New Data Grid, s...
http://learnhyperion.wordpress.comzero as well. If there is non-zero variance in Balanced Journal you will geterror.   But...
http://learnhyperion.wordpress.comThe variance is 500 and now we submit this Journal. Hence the status ofjournal changed t...
http://learnhyperion.wordpress.comWe can check the Journal adjustment details From “Cell Adjustment”With this Cell Adjustm...
http://learnhyperion.wordpress.comFebruary revenue in January. We can create an auto-reversing journal entry todebit the r...
http://learnhyperion.wordpress.com                                On      the    POV       bar,    select Scenario:       ...
http://learnhyperion.wordpress.comView                  PeriodicICP                   ICP NoneCustom1               NoneCu...
http://learnhyperion.wordpress.comNow we POST “AutoRev_BISP”Reviewing Auto-reversing Journal EntriesAfter the auto-reversi...
http://learnhyperion.wordpress.comThe status of the journal for February is automatically set to Approved.4.   Perfrom the...
http://learnhyperion.wordpress.comSet The POVPeriod(2) : January , February.Account(2) : LongTermReceivables, Cash.The acc...
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Journal web

  1. 1. http://learnhyperion.wordpress.comHyperion Financial Management MANAGING JOURNALSProvided By: BISP Created By: Amit Sharmahttp://bispsolutions.wordpress.com SME - Hyperionbisp.consulting@gmail.com BISP Teamhttp://learnhyperion.wordpress.com INTRODUCTIONAfter you load or enter data into the database, you might need to makeadjustments to it. Journals enable you to make adjustments to accounts afterthe data is loaded or entered. They provide an audit trail of changes made inHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 1
  2. 2. http://learnhyperion.wordpress.comthe application and indicate the accounts, entities, and periods that wereaffected.Why use Journals versus data grids or data forms?  We can create recurring journals that repeat for a number of future periods.  We can create auto reversing journals that generate an automatic reversing entry in the following time period.  Use the approval process for journals to provide accountability. Account Journal Balance Adjustment ADJUSTED ACCOUNT BALANCEJournal features:  You can create double-sided journal entries by using debits and credits.  You can balance entries, or you can permit single-sided, out-of-balance entries.  You can create recurring journals that are repeated for a number of future periods.  You can create auto reversing journals that generate automatic reversing entries in the next time period.  You can use the journal approval process to provide accountability.Journal UsesJournals are used to record many types of adjustments.  Reclasses  Entry corrections  Reversals  AccrualsHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 2
  3. 3. http://learnhyperion.wordpress.com  Minority interest accounting entries  Elimination of adjusting entries  True ups  AllocationsAdjusting Data Using Audit TrailsFinancial Management journals provide an audit trail of the changes made inthe application. Journals tell you which users have made adjustments and theaccounts, entities, and time periods that are affected. All adjustments that aremade using journals must be reviewed and approved before you can postthem.Submitting Journals for ReviewAfter you create a journal, you need to submit it to your supervisor forapproval. After your supervisor approves the journal, you can post it to theFinancial Management database.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 3
  4. 4. http://learnhyperion.wordpress.comThe approval process is covered later in this lesson. Sr. Accountant/ Financial Analyst Create Journal ACCOUNT MANAGER Submit Journal for approval REVIEW AND APPROVE JOURNAL Receive Approval Post journalJournals and the Value DimensionThe Value dimension plays an important role in journal processing. When youload data from a file or use a data form or grid to enter data, the values areHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 4
  5. 5. http://learnhyperion.wordpress.comstored in the Entity Currency member of the Value dimension. When you postadjustments from a journal, the adjustment values are stored in the EntityCurrency Adjs member. Financial Management stores the posted adjusteddata by combining the values in the Entity Currency and Entity Currency Adjsmembers and storing the result in the Entity Currency Total member. Theposted adjusted value is used during the consolidation process.Multiple Journal PostingsIf more than one journal is posted to the Entity Currency Adjs member for thesame account, the results are cumulative. The total from the current journal isadded to or subtracted from the existing total in Entity Currency Adjs. WORKING WITH JOURNALSHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 5
  6. 6. http://learnhyperion.wordpress.comWhen we want to work with journal, The Workspace is the Centralized placewhere we will get the access for all the Journal related work.The URLhttp://<servername>:19000/workspaceCredentials (Default , unless it changed or modified later)Userid : adminPassword: passwordAfter login to Workspace , 1. Navigate to Consolidation Application . 2. In Browser View Go To LOAD TASK > LOAD JOURNALLoad the Journal.After successful loading you will get the confirmation.If you get any error It will be displayed here too.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 6
  7. 7. http://learnhyperion.wordpress.com Using the Templates Process Pad on the Desktop The Journal Templates process pad is a bar at the top part of the Financial Management Desktop that guides you through a series of tasks related to the journal template process. The following table describes the buttons that are available on the Journal Templates process pad:Button Task Create, edit, and delete standard and recurring journal templates, create journals using recurring tem lates, and view lists of journal templates. View the status of periods, and open and close periods. Opening Periods for Journal Entries For each scenario, you must open time periods before you can post journal entries to them. By default, all periods in Financial Management have an initial status of Unopened. You can open and close periods at any time, but you cannot change an opened period to unopened. You open periods using the Manage Periods task. To access the Manage Periods page: 1. Select Tasks > Journal Tasks from the menu bar. 2. Select Manage Periods Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 7
  8. 8. http://learnhyperion.wordpress.comTO WORK WITH JOURNAL THE FIRST THING YOU NEED TO DO IS OPEN APERIOD.Accessing JournalsIn Financial Management, you use the Process Journals task to create journalsand to enter information into the journals. You enter journal information byusing journal templates or creating blank journals.You can create journal groups to help classify journals by type, such asreclasses, allocations, and overhead.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 8
  9. 9. http://learnhyperion.wordpress.comUsing Journal TemplatesYou can create journal templates to save time when you enter journals. Youcan create these types of journal templates:  Standard templates, which contain accounts and entities for adjustments that you enter frequently.  Recurring templates, which contain complete information for identical journal entries that recur for more than one period.Templates apply to all scenarios in an application. They are not dependent onscenario and year.Recurring templates are dependent on the Value dimension member.To access templates, you must be assigned the Manage Templates securityroleCreating Standard Journal TemplatesYou can create a journal template when you need to post journals that havecommon adjustment information. For example, you can create a template thatHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 9
  10. 10. http://learnhyperion.wordpress.comcontains information such as common entities or accounts, and use thetemplate as the basis for journals that contain similar adjustment information.When you create a template, you select whether the journal is balanced,balanced by entity, or unbalanced. To create standard journal templates: 1. Open an application for which to create a journal template. 2. Click Manage Journals Templates.There are two type of Journal you can create. 1. Standard 2. RecurringAlso there are subtypeType DescriptionBalanced Total journal debits and credits must balance before you post the journal.UnBalanced Total journal debits and credits need not balance before you post the journal.Balanced by Entity Total debits and credits for each entity must balance before you postthe journal. 3. Select Standard Templates.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 10
  11. 11. http://learnhyperion.wordpress.com 4.The label can be a maximum of 20 characters. Do not include spaces in the label and do not use these characters: . + - */ # {} ; , @ ” The description is optional and can be a maximum of 255 characters. 5. Select a balance type: Balanced, Unbalanced, or Balanced by Entity.Optional: Enter a Journal Group for the journal.Note:The journal group that you assign must exist in the application.Optional: Enter debit or credit amounts and a description.Click OK.Standard template created.Creating Recurring TemplatesYou can create recurring templates when you need to make identicaladjustments frequently.For example, you can create a recurring template that contains all the journalinformation, and use the template to generate Approved journalsautomatically for a specific scenario, year, and period.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 11
  12. 12. http://learnhyperion.wordpress.comTo modify a template, you must have All access to the security class assignedto the template.To create recurring templates:1 Open an application and click Journal tasks.2 On the Manage Journal templates process pad, click Recurring.Select Recurring Templates, and from Journal Templates, click New.Enter a template label and descriptionHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 12
  13. 13. http://learnhyperion.wordpress.comClick SAVEIn case of any error it will pop up a new window and will inform, otherwise itwill be successfully saved.Setting the Point of ViewBefore creating journals, you must set the point of view based on yourrequirements. The point of view determines the members that are displayedfor the Scenario, Year, Period, and Value dimensions. You can change thedimension members for these dimensions by clicking the appropriate links.Creating JournalsHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 13
  14. 14. http://learnhyperion.wordpress.comAfter setting the point of view, click the New button to display the NewJournal page. You can choose either to start with a blank journal or to createthe journal from a template.New Journal Options:  If you select Create as Single Entity Journal, Entity is added to the journal point-of-view bar and you can select a single entity for the journal.  If you clear Create as Single Entity Journal, you must select entities in the journal rows.Entering Journal DataAfter creating a journal, you enter the journal data.  For single entity journals, select the entity from the point-of-view bar.  Type a label and description.  Select the balance type and assign a security class (optional).  Select an account and a member for the other dimensions of each row. For multiple entity journals, select the entity for each row.After entering the journal data, you can use the Scan button to verify that allentries are valid. If the journal contains errors, a separate window displaysthe scan results by row number.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 14
  15. 15. http://learnhyperion.wordpress.comJournal Review Process  Users review and submit journals. The journals are submitted for approval by selecting the Submit option in the Process drop-down menu on the Process Journals page. Users can submit journals one at a time or in batches.  After a user submits a journal, the status of the journal changes from Working to Submitted.  After a user submits a journal for approval, a reviewer (a user with the Journal Approver security role) approves or rejects the journal by selecting the Approve or Reject option in the Process drop-down menu.  After a supervisor approves the journal, users can post it by selecting the Post option in the Process drop-down menu. Journals are normally posted once their status is Approved.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 15
  16. 16. http://learnhyperion.wordpress.comIt is important to note that if you have the Post Journals security role, and theperiod is opened, you can post a journal with a Submitted, Working, orRejected status.You can also unpost a posted journal. Unposting a posted journal createsreversing entries for the journal in the database and changes the status of thejournal to Rejected.NOTEAt any time, you can process journals by selecting them from the list ofjournals on the Process Journals page. You can also use this method to processmultiple journals at the same time.Viewing Adjusted Data in Data GridsYou can view the adjustments made to the accounts for an entity by using adata grid. You can change the Value dimension in the point of view of the gridto view the values in the Entity Currency Adjs, Entity Currency, and EntityCurrency Total members. When you select the Entity Currency Adjs member,accounts that have adjustments posted from several journals displaycumulative values. You can view the adjustment detail for these accounts byright-clicking a cell and selecting Cell Adjustments.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 16
  17. 17. http://learnhyperion.wordpress.comViewing Adjustments Using the Entity Details ReportYou can use the Entity Details report to view details of the entireconsolidation path for a specific cell, including the journal entries thatgenerated in the journal posting process.You generate the Entity Details report by right-clicking a valid intersectionand selecting Entity Details.NOTEIn an entity report for a Parent entity, the data shows only the totals from itschildren.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 17
  18. 18. http://learnhyperion.wordpress.comDETAILED WORK FLOW :Step 1:Open the Period.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 18
  19. 19. http://learnhyperion.wordpress.comStep 2:Create a New JournalThe Journal Type - a. Standard. b. Recurring.And whether it will be a. Regular. b. Auto Reversing.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 19
  20. 20. http://learnhyperion.wordpress.comWhether we will use any Journal template or use a new Blank Journal.Step 3:Now we need to define a New Journal Details. First we give followingdescription including mentioning whether it is Balanced or Unbalanced.Step 4:Now we specify The Journal information. 1. The POV 2. Which account dimension member Data to be modified through journal? 3. The Debit and Credit amount (In case when we select Balanced Journal, the Debit and Credit amount should be the same in total and Variance should be ZERO. For unbalanced journal this is not required. )Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 20
  21. 21. http://learnhyperion.wordpress.comStep 5Save the Journal.Step 6:After creation of Journal the next options available are a. Submit b. Approve c. Reject d. Post e. UnpostOnce the developer created the Journal according to requirement he shouldsubmit it to his upper level for checking. For this purpose we use SUBMIT.After the developer submit the Journal , next it moves to Review level.This is including in Process Management.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 21
  22. 22. http://learnhyperion.wordpress.comAfter The higher authority approve this journal the Working status changed toSubmitted.When the Journal is approved by series of Review Level it moves upwards. Ifanybody feels the Journal needs some modification he can reject it, then Thejournal will show the Rejected Status and will be returned back who lastapproved this journal. He may be do some modification and Approve again tosenior.When the person who is senior most to approve the Journal confirms thejournal ha can post it. After posting it shows the effect in Data Grid.The status changed to posted.After Posting The Journal goes to READ only Mode.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 22
  23. 23. http://learnhyperion.wordpress.comDuring the review process , the incorrect journal can be unposted.When any journal unposted the result revert back to original position. Howmany time any Journal posted or unposted that can be known from Data Grid“CELL ADJUSTMENT” details.After few time posting and unposting.When these any adjustment is performed through journal entries, The resultsreflects in “Entity Currency Adjustment” .Posted Journal shows 100 in “Entity Currency Adjustment”.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 23
  24. 24. http://learnhyperion.wordpress.comWhen we unpost this journal , it reverts back and the “Entity CurrencyAdjustment” goes to ZERO adjustment value..This is the view from the Desktop client, where as we can see this sameinformation from Workspace DataGrid too.Login to WorkspaceHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 24
  25. 25. http://learnhyperion.wordpress.comNavigate Application>Administration>ManageDocument>DataGrids.Create one New Data Grid, set the same Point of View.It show the same Data grid.The adjustment through Journal are marked. In our Journal we defined Julyjournal so the Value is shown where as The August Journal show the ZEROvalue.The same Journal information you can retrieve from “CELL ADJUSTMENT”.Multiple time is shown because number of times posting and unposting.Now we will see the Unbalanced Journal details.When we work with Unbalanced Journal we don’t require to have multiplevalue in journal, we can have single value as well. The variance can be non-Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 25
  26. 26. http://learnhyperion.wordpress.comzero as well. If there is non-zero variance in Balanced Journal you will geterror. But when it is unbalanced Journal there is no error for non-zero journal.Based on Account dimension member, the list of custom dimension memberchanged. .So, lets create a unbalanced Journal for entity SUNNYVALE for the monthJanuary 2010.The creation process is the same, the definition changedHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 26
  27. 27. http://learnhyperion.wordpress.comThe variance is 500 and now we submit this Journal. Hence the status ofjournal changed to SUBMITTED.Next we post the journal and will see the change in Data Grid in workspace.We enter some value 15000 in <Entity Curreny>Submit the Data in Server.The Data Grid refreshed and the change is shown in Data Grid.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 27
  28. 28. http://learnhyperion.wordpress.comWe can check the Journal adjustment details From “Cell Adjustment”With this Cell Adjustment value we can track the process of journaladjustment. Like how many times any user performed any mistake andreposted journal. AUTO REVERSING JOURNALScenarioWe create auto-reversing journals to enter adjustments that you want toreverse in the next period. For example, our company mistakenly bookedHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 28
  29. 29. http://learnhyperion.wordpress.comFebruary revenue in January. We can create an auto-reversing journal entry todebit the revenue in January. The journal entry reverses in February, andcredits revenue in the correct period.PrerequisitesBefore starting this tutorial, you should:1. Have access to or have installed Oracle® Hyperion Financial Management, Fusion Edition 11.1.1.32. Have installed and opened a Financial Management application (eg:Bispapp1)3. Have created a child entity (United States.California is used for this tutorial)4. Opened the periods for which you are generating and reviewing auto- reversing journal entries (Jan 2010. Feb 2010)Creating Auto-reversing Journal EntriesIn this part of the tutorial, you create an auto-reversing journal entry in theUnited States.California entity. The entry is for February revenue that wasincorrectly credited in January 2010.1. Open your Financial Management application, and In the Browser View pane, navigate to Tasks > Journal Tasks > Process Journals.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 29
  30. 30. http://learnhyperion.wordpress.com On the POV bar, select Scenario: Actual, Year:2010, Period: January, Value: <Entity Curr Adjs>, and click New Select Start with blank Journal. Under Type, select Auto-reversing. Click OK.We provide the following POVDimension ValueAccount LongTermReceivables, CashEntity UnitedStates.CaliforniaScenario ActualPeriod January, FebruaryValue <EntityCurr Adjs>Year 2010Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 30
  31. 31. http://learnhyperion.wordpress.comView PeriodicICP ICP NoneCustom1 NoneCustom2 NoneCustom3 NoneCustom4 DecreasesScan and Save The Journal.Then SUBMITWe can check the Process status.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 31
  32. 32. http://learnhyperion.wordpress.comNow we POST “AutoRev_BISP”Reviewing Auto-reversing Journal EntriesAfter the auto-reversing journal entry is approved and posted, you can reviewit in the next period (February) to ensure that it was reversed correctly.1.In the Browser View pane, navigate to Tasks > Journal Tasks > Process Journals. In the POV for Period, select February, and click OK.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 32
  33. 33. http://learnhyperion.wordpress.comThe status of the journal for February is automatically set to Approved.4. Perfrom the following actions: a. Review the journalThe journal is reversed in February and is ready to be posted.b. Click CloseSelect the check box to the left of AutoRev J1, and select Process > Post.Navigate to DATA GRIDSHyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 33
  34. 34. http://learnhyperion.wordpress.comSet The POVPeriod(2) : January , February.Account(2) : LongTermReceivables, Cash.The account Cash is debited in January and credited in February. Similarly, theaccount LongTermReceivables is credited in January and debited in February.Hyperion 11.1.1.3 | Journal |Created by : Rupam Majumdar |BISP © Amit Sharma Page 34

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