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: Treasury Backoffice APAC

Responsibility area: Respect of Treasury Policy Rules

Table of contents 

By default the table of contents displays Heading 1 & Heading 2 (other levels can be added)


Scope

3. Remove the icon when not applicable


ERP

4. Remove the icon(s) when not applicable



Frequency

5. Remove the icon(s) when not applicable

 

References

6. Add the link to SAP transaction(s) (when it exists)



Forms

7. Insert the links accordingly and change the link text with the Form name



Attachments

8. Add the link to attachments or external links




Previous operation << >> Next operation



1. Objective and Scope

1.1. Objective of this Operation

WHY - Describe the objective of the operation


1.2. Scope

Detail the scope (legal entities, etc.)


2. Definitions

Definitions should be added in the Finance Glossary - Add definition and link it to respective Letter in Finance Glossary 

See Finance Glossary:

  • ...


3. Tasks description


Purpose : This report pertains to the China entities. Its purpose is to prepare for the cash position of each company at the end of the month, as well as to calculate the interest between the account header and other participating companies.

Concept : The concept of a cash pool dictates that the balance at the end of the day should be zero. This means that if the balance is positive at the end of the day, the funds will be transferred to the header account. Conversely, if the balance is negative, the header account will sweep the funds to offset the negative balance.

Report for sending to accounting team:

1. Cash pool report between header account SCO 7728 and company participants

2. Cash pool report between 7728 and Solvay SA 

3. Interest report 

Source of preparing report  :

BOFA CashPro Online

  • Cash concentration Sweep Detail Report (USD domestic cash pool); This report illustrates the sweeping transactions between the account header and account participants, as well as the accumulation of interest income and expenses in each company. 
  • GFS Sweep transfer detail Report (USD&EUR cross border cash pool) ; This report illustrates the sweeping transactions between the 7728 Solvay China and Solvay SA, as well as the accumulation of interest income and expenses in each company.

Internal Report for preparing file 

Actual Report for sending to other teams

Deadline : The report need to be sent to accounting team and other departments within day 1 .

3.1. I extract the related report from BOFA.


How to extract Cash concentration Sweep Detail Report

3.1.1 Log in Cashpro online

3.1.2 Select menu >> Previous Day Reporting  >> cash concentration Sweep Detail Report >> Click Modify



3.1.3 Change the date period to the whole month >> Format in excel


3.1.4 Choose account 684114645174 >> Run


How to extract GFS Sweep transfer detail Report


3.1.5 Select menu >> Previous Day Reporting  >> Choosing ‘GFS Sweep transfer detail Report’  >>Click Modify


3.1.6 Change the date period to the whole month >> Format excel

 
3.1.7 Choose account 684114645174 USD >>Run

                              684114645372 EUR >> Run


3.2 I prepare Cash pool USD for cross border .

Prepare Data : Assuming that the report will be prepared in March, it is necessary to update the reporting period first and

copy-paste the closing balance to the opening balance.


3.2.1 Changing the date period

3.2.2 Copy and paste value in column closing to opening

Remark : Below is the actual report in Excel format that we need to update and send to the accounting team and relevant departments .


3.2.3 Open the Cash Concentration Sweep Detail report extracted from BOFA Cashpro online and copy-paste all the data into our internal report in tab 'Cash Pro' .

3.2.4 Filter the value date at the end of the month .



3.2.5 Change the date in the red circle to the end of the month. After that, the formula will populate in the second table. The result will appear in the 'Net Cash Position,' highlighted in yellow, as shown below in the tab 'Result'. 


3.2.6 For the USD and EUR amounts between Solvay China and Solvay SA, you can copy and paste the data from the 'GFS Sweep Transfer Detail Report' with USD account number 684114645174 and EUR account number 684114645372, using the date at the end of the month.

3.2.7 Copy data from '3.2.5&3.2.6' to the closing column as below .

3.3 I prepare interest cash pool USD and EUR for cross border .

3.3.1 The procedure is the same with 3.1.1-3.1.7 for extract the bank statement .

3.3.2 Copy the result of interest from step 3.2.5 in our internal report to the actual file. 


Internal report 


Actual file

3.3.3 Paste the result of interest in the red square .

Remark : Don't forget to change the date period in the green circle. .

Remark : The interest will be paid on the 1st of every month, except on USD holidays or European holidays,

in which case the interest will be postponed to the next day.


End of document.