Account Reconciliation Manager Part 5 – Reporting

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April 26th, 2012


This blog post is part of an Oracle Hyperion 11.1.2.2 series covering application highlights as well as a deeper look into different aspects of the new release.

Brief Review 

In this Part 5 of my blog series on the Account Reconciliation Manager, “ARM” I will continue my review with a look at the reporting features. ARM is part of the Financial Close Managements Suite. ARM is a tool that reconciles the ending balancing back to the source systems in detail through the use of detail maps. These are then organized into Formats and Profiles. After running the reconciliations, the end user can run reports. There are several types of reporting abilities that are accomplished by the use of List Views, Dashboards, and Report Binders. I’ll review these in this blog.

List Views 

List Views is a method to view on screen the records and to provide drill down abilities to the detail records. It is available for profiles, reconciliations, and transactions. Some of the features available in List Views are that columns can be added, filters can be added, and the views can be exported to Excel.

  • Profile List View – This view contains the list of Profiles, and allows a drill down to the Profile dialog.
  • Reconciliation List View – This option contains a list of the reconciliations and allows a drill down to Reconciliation dialog.
  • Transaction List View – This view provides a list of the transactions and allows drill down to the Reconciliation Dialog with specific detail on the Transaction Detail Tab.

Dashboards

Dashboards provide as implied, a quick view of key statistics. These dashboards are configured into dashboard “Portlets”. These are individually defined snapshots of data, and these can be set up to view a maximum of four on a screen. A single dashboard view can be viewed full screen. There are five types of Portlets. The five are Status Chart, Aging Analysis, Reconciliation List, Transaction List, and My Worklist. Filters can be applied to these Portlets, they are sizable, and they offer drill through ability to record details.

Status Charts

This chart displays a pie chart that shows count of reconciliations and their respective status of pending, open, or closed status. Additionally it displays the issues of late reconciliation by role and warnings.

Aging Analysis

This chart displays a bar chart or pie chart of adjustments by their aging bucket. These buckets can be selected aging profile.

Reconciliation List

This dashboard displays lists of reconciliations. The primary purpose of this portlet is to allow user to apply specific filters such as high risk reconciliations or reconciliations with warnings.

Transaction List

This view displays specified lists of transactions and its purpose is to allow users to apply filters on specific subsets of transactions, such as ones with large adjustments or significant aging violations.

My Worklist

This displays the list of reconciliations that are assigned to as specific user and their respective role either as a preparer or reviewer. It is a basic workflow reminder.

Report Binders

As this may imply, there are methods to group the reports into specific binders for printing or other offline review. This feature is very helpful specifically to management and auditors, both internal and external. With this feature, auditors can have the information and use it without having any training on the setup or use of ARM. These binders can be can generate zip file containing a Report Summary, Reconciliation Details, and they can have Attachments.

Filters

Filtering is a feature that allows the data to be filtered in many of the ARM toolsets such as List Views, Dashboards, and Report Binders. As with any data filter, the uses are almost endless. This gives the tool additional great abilities to expedite the reconciliation process, its overview, and presentation abilities.

Summary

As we continue to review the many features of ARM, one has to start to see its value in both working the reconciliations and the management of them. From setting up the maps, to the variety of Profiles and Formats than can be configured, to finally the presentation of the results using a very strong reporting feature set.

Given that account reconciliation is a fundamental accounting process, having a tool such as ARM will definitely bring current technology abilities to an old process. Additionally, the rich feature set of this tool will help complete the accounting cycle in a secure and strong method. As the tool evolves from client feedback, I can only imagine the improvements to come. It is definitely a tool every accounting department should give serious consideration given the volume and scrutiny that exists in the current business environment.

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