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Many organizations need to make Journal Entries to adjust Trial Balance and Supplemental account balances that are loaded into Financial Management (HFM). One way to accomplish this is to utilize FDMEE’s Journal Templates. These templates are Microsoft Excel spreadsheets that are formatted to allow adjustments to Entities and Accounts for specific Periods. Here in Part 1, we will concentrate on how to setup the FDMEE application to get ready to load Journals to HFM.

Financial Management Application Options

The following Financial Management (HFM) options should be configured before using the Journal feature in FDMEE:

  • Enable Journal Load
  • Journal Enable JV ID per Entity
  • Journal Balancing Attribute
  • Journal Status
  • Journal Default Value

For this example, we will set the Options as follows:

  • Enable Journal Load: Yes
    • This enables FDMEE to load Journals to HFM
  • Journal Enable JV ID per Entity: No
    • We are loading all data from the Journal based upon the POV and are going to assign one ID to the Journal
  • Journal Balancing Attribute: Balanced
    • We are loading adjustments to Trial Balance data, so we want to force Journals to balance. If you are also loading Journals to statistical accounts you may want to use the Unbalanced option. A third option, Balanced by Entity, is available and would be used to enforce balanced adjustments for each Entity within the Journal. 
  • Journal Status: Posted (default)
    • We are setting the Journal we are loading into HFM to Posted. There are four other options available to set the status of the Journal in HFM:
      • Working
      • Submitted
      • Approved
      • Rejected
  • Journal Default Value: <Entity Curr Adjs> (default)
    • Other available options to set which HFM value dimension member the Journal is being loaded to are:
      • |Contribution Adjs|
      • |Parent Adjs|
      • <Parent Cur Adjs>

Note: All screenshots and narrative relate to FDMEE version 11.1.2.4.100

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Data Values

The default value for exporting data from FDMEE to HFM is <Entity Currency>. This is the base input value member in HFM. This is the default value that FDMEE places in the “Data Value” field when creating a new Location.

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When you need to load journals via the template to HFM, you will need to specify which value dimension member you would like the Location to load adjustment data to. You will first need to specify the value data load member, in this case <Entity Currency>. Next, you need to specify the value journal load member, in this case <Entity Curr Adjs>. The two value data load members are separated by a semicolon (;). When using the template, FDMEE uses the second value member (<Entity Curr Adjs> to determine which value dimension member to load to in HFM. This is accomplished by browsing the Data Value member list and selecting the proper values.

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Save the modification

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These are the steps in setting up the HFM application and Location options to allow FDMEE to export adjustment data via a Journal Template. My next blog will focus on downloading the Journal Template, entering adjustments and processing the journal into HFM.

Join us on Friday, April 22 for Denis Gray's webinar: Making the Move from FDM Classic to FDMEE, Register here.

Disclaimer: This article is intended to be a resource only and is not intended to be nor does it constitute legal product advisement. Any recommendations are based on our direct experience in this environment during the time in which this was posted.