AR Period Close (60.1.4)
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AR Period Close (60.1.4)
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Business Process Overview
Florida PALM also offers various reporting and inquiring capabilities for researching and reviewing transactions. This allows agencies to efficiently manage open item receivables. It also allows agencies to reconcile and correct transaction errors prior to closing the AR accounting period.
Business Process Diagram
Business Roles
The Business Process Flow Diagrams use horizontal swim lanes to depict where activities are performed by different parties or systems. Each swim lane is titled with a role, either agency-based or within DFS, and in some cases, are representative of an external entity or system. The swim lanes may change from page to page within a single business subprocess as more or fewer roles are required to execute sections of the business subprocess.
- Agency AR Reconciler: Agency role responsible for month end period close.
Business Process Flows Details
The tables below describe steps in each business subprocess as reflected on the Business Process Flow Diagrams. The tables also reflect information associated with each step describing the intent of the specific process. Florida PALM screenshots are included within the sections to allow connections to be made from specific business subprocess steps to screens within Florida PALM. This information should be read in conjunction with the Business Process Flow Diagrams.
Process Step ID | Process Step Title | Description of Process |
|---|---|---|
1 | Need to Close AR | The Agency AR Reconciler needs to perform month end period close that aligns with the GL month end close process for Accounts Receivable module. |
2 | Monitor and Review WorkCenter/Reports | The Agency AR Reconciler reviews any pending transactions (e.g., AR and deposits) that have not been approved and posted. The reconciler also reviews alerts to update errors accordingly and monitors reports to understand the transaction lifecycle for the next action in the system. |
3 | Resolve Exceptions | The Agency AR Reconciler reviews the exceptions and determines if the errors should be adjusted or a value must be added or changed to resolve the exceptions (e.g., Accounting Date). The month end closing process includes a GL to AR reconciliation where the GL Reconciliation Processor collaborates with the Agency AR Reconciler to resolve reconciling items. |
Accounting Events
Accounting events originate during transaction processing in the applicable source module. The accounting events impact the source module, Commitment Control ledgers, and the General ledger (Actuals).
- Source Module accounting entries require user input (I) of the primary line (i.e., expenditure, revenues) with an automated (A) system offsetting line (i.e., payable, receivable) during transaction entry. The source model transaction must pass Edit Check, Budget Check, and Cash Check (on applicable entries) prior to posting the transaction.
- The Run Budget Check (Commitment Control) process automatically affects balances in the appropriate budget ledger (i.e., appropriation, spendable cash) if the transaction passes the budget check process.
- After the transaction is posted in the source module, an automated system process summarizes and posts the entries in the General Ledger module to the Actuals Ledger.
The table below provides the most common accounting events applicable to this business process.
Acct Event ID | Accounting Event | Commitment Control Ledger(s) Impact | Source Module Accounting Entry | General Ledger (Actuals) Entry |
|---|---|---|---|---|
N/A |
Reports
Key Reports are displayed as icons with the Report Number on this Business Process. The table below provides the reports identified to be produced at a particular process step or is used to support the completion of a process step.
Report Number | Report RICEFW ID | Report Description | Report Source | Report Frequency | Audience |
|---|---|---|---|---|---|
R1 | ARR025 | AR Data Report – A report that provides AR data including pending items and items to agencies for analysis purposes. | PeopleSoft | Periodic | Agencies |
R2 | KKR023 | Revenue Report – A report that provides revenue estimates, revenue recognized, and revenue collected by Fund, Budget Entity, Category, and account code by ChartField combinations. | PeopleSoft | Periodic | Agency, DFS |
R4 | ARR021 | Unreconciled Deposits Report – A report that provides a list of unreconciled deposits. Report includes unreconciled bank data to assist with deposit entries that are needed in the system for reconciliation. | PeopleSoft | Periodic | Agency, DFS |
R5 | KKR058 | Budget and Cash Checking Exceptions Report – A report that lists budget and cash check exceptions along with balances, Vouchers with errors and budget exceptions, and vouchers where an override was applied. | PeopleSoft | Periodic | Agency, DFS |
Interfaces
The table below provides the Interfaces identified on the Business Process.
Interface Number | Interface Description | Interface Frequency | Source | Target |
|---|---|---|---|---|
| N/A |
Forms
The table below provides the forms identified on this Business Process.
Form Number | Form Description | Audience |
|---|---|---|
N/A |
Workflows
The table below provides the workflows identified on this Business Process.
Workflow Number | Workflow Description | Audience |
|---|---|---|
N/A |
Version History
Date | Revision Description |
|---|---|
02/01/2024 | Original Version |
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