Tasks to be completed when documenting an operation (from creation to publication)

1. Enter the Title of the operation / page

2. Add the following Labels:

    • Scope of applicability: ww, country_accounting

    • Country or group of countries (if applicable): belux, china, france, italy, lam, nam,uk_ie, bulgaria, dach, netherlands, iberia, poland, latvia, australia, india, japan, south_korea, thailand, singapore, new_zealand, emea_transversal, apac_transversal

    • Unit and Domain according to the List of labels to be used in the Finance Service Line space

      • E.g. 1: WW Operation in Financial Accounting under domain "Central Finance Processes & Compliance":
        • Labels to be used: ww, financial_accounting, central_fin_proc_compliance

      • E.g. 2: France Operation in Financial Accounting:
        • Labels to be used: country_accounting, france, financial_accounting
          (for country operations, the Domain is always country_accounting)

3. Fill in all fields as described above

4. Name the title of each section using OPD methodology naming convention - Infinitive verb without the “to”, mainly action verb...something) -" I do something..."

5. Once the description of the operation is completed, ensure it is approved and published by launching the SBS-Finance approval workflow

Domain: Country Accounting

Responsibility area: N/A

Table of contents 


Scope


ERP


Frequency

 


References

FBL3N


Forms

Royalty Anadarko MMS WY - Template

Royalty Anadarko ONRR WY New template

Attachments



<< US - Reconciliation Royalties >>



1. Objective and Scope

1.1. Objective of this Operation

This process aims to reconcile the entries related to the royalties regarding the right that Solvay retains to mine lands from Anadarko, MMS and WY.

1.2. Scope

This procedure is applicable only for company 4290 - Solvay Chemicals, Inc., Houston, TX.

2. Definitions

See Finance Glossary.

3. Tasks description

3.1. Responsibilities

SBS Responsibilities:

  • SBS - Finance Operations Team must perform the reconciliation of Accrual and Prepaid expenses related to royalties.

3.2. Periodicity

  • It be done monthly (D+10).

3.3. I retrieve and update the data

3.3.1. I update the Accrual Tab

First of all, open Royalty Anadarko ONRR WY  and copy the Accrual and Prepaid tabs from previous month to the month which will be reconciled.

Transpose the "End" amounts from last month to the "Begin" to current month which will be re-conciliated

  


To update the Payments accomplished to MMS and WY, as well as the Royalty accrual and adj from last months, it is required to enter in the transaction FBL3N, search the G/L account 2484000000, Company Code 4290, current month.

The amounts are identified by the text description as per image below:

 


3.3.2. I update the Prepaid Tab

The payments are accomplished quarterly, however, monthly the accrual and adjustments from prior month are done.

To re conciliate this balance is required to enter in the transaction FBL3N, G/L account 2700000005, Company Code 4290.

The amounts from Accrual and Adjustments are defined by the text. The information from each product and category (Accrual or Adj) must be pasted beside the main table as the image below


The table related to 'Account Analysis by Product Line - Accounts 2700000005 & 2484000000' must be filled only as the highlighted fields as below:

To retrieve the data go to FBL3N, G/L account 2484000000, sort the text, and later sort the type (the type which will be used is "M1").

The texts which will be used are WY and MMS Royalty, broken down by each product as referenced on the text:


Quarterly Payments

Payments accomplished quarterly must be included in the prepaid payment tab. This step is only performed in January, March, June, September and December

The closing month which does not regard the quarterly closing, the advance royalty payment must be zero

Transaction FBL3N, G/L 2700000005, closing period. Filter only the document type M1.

Paste the information according to the text to make the correct input for each product line

The total of all line products are updated in the table below:

After the reconciliation is completed there is a need to clear through SAP transaction F-03  the following G/L accounts: 2484000000/4290; 2484000000/4291; 2450000000/4291.

3.3.3. I send to controller

After reconciliation file update, send it to Controller.

End of document.