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Business Explanation
The weekly tracker is used to collect, consolidate and report on Flextronics key business measurements on a weekly basis.
Timeline
Step 1 2 3 4 5 Description System rollover; new week is available for input. Input site data & send when complete. Period locked and system calculated. Ensure all input forms are complete. Incomplete sites will be contacted to obtain missing data & will receive a point on the Corporate Score Card. Prepare Weekly Tracker Report for Senior Management. Responsible Corporate Coordinator Site Controller Corporate Coordinator Corporate Coordinator Corporate Coordinator Deadline Thursday 5:00 PM PST Monday 12:00 PM PST 10:00 AM PST in Actuals & Fcst Weeks. Monday 12:00 PM PST 10:00 AM PST in Actuals & Fcst Weeks. Monday 11:00 AM PST 11:00 AM PST when Actuals are due. Tuesday 10:00 AM PST. 5:00 PST in Actuals & Fcst Weeks.
For more reference please refer to WT Time Lines (Americas, Asia and Europe) document. http://intranet.flextronics.com/finance/OutlookSoft/Weekly%20Tracker%20User%20Manuals/WT%20Timelines %20(America,%20Asia%20and%20Europe).xls The following options are available on the Main Menu: A. Links across the top of the menu to access different Modules B. Select Change Site to change the default site that will be passed into each input form or report (Note: the site can also be changed after you enter the input form or report) C. Self Help: Will send you to Help Documentation D. Request Help: Request to System Support E. Close Session: This will end your current session and close all the applications F. Report Portal: This will take you back to the Global Finance Portal G. Report Wizards: This will launch the report wizards selection screen H. Client Settings: Used by IT to refresh templates help users Summarizing, the deadline for inputs is on Mondays 12 PM PST except for Actuals and Forecast week, the cut off regardless the input deadline, is always on Friday. (Please check the Corporate Calendar for more details). http://intranet.flextronics.com/Finance/default.aspx
Click on the Weekly Tracker Module to access the Weekly Tracker Input Schedules.
Input Instructions *** All inputs should be done at Child level unless stated otherwise ***
All number information is to be input by the following criteria: Local Currency Whole Currency Sub-fincomp (not Parent Level) All comments information is to be input by the following criteria: Parent Level Under the title of each Input Schedule will be the site name that is being updated & the current quarter. Under Action Pane site will send information by clicking on Send data and then clicking on Send active worksheet
Weekly Input
01 Actuals Input This form presents a page view of the inputs to be captured by site. The accounts are displayed down the rows and periods are displayed across the columns. The current week input cells has an Adjustment Link that will take you to the end of the sheet to adjust week figures. At month end, the Month MUST agree to the Actuals data For the Month End Submission, automated accounts (from the Actuals Module) will be loaded into the WT Application after the Actuals have been finalized by the Corporate Teams. This usually takes place until day +6. Please do not submit a GFS ticket on automated accounts at month end. The MEP vs BPPL for automated accounts will be cleaned up by corporate before WT figures are distributed. All accounts are automatic but AR Aging.
1. 2. 3. 4.
Update all necessary accounts according to the Weekly Tracker Account Definitions (page 8). Click on Send Data to send data to the database. To review the sent data, click Refresh. When finished, click Close to exit the workbook ( DO NOT SAVE CHANGES).
To adjust FDSS Load type the amount you want to add or subtracts of FDSS Load Column. Click on send data and then click on Send active worksheet.
The following accounts that are automatically populated in regular weeks, theres no need to do anything about those:
Accounts Payable: Inventory in Transit: 3rd Party Accounts Payable - Overdraft Checks Outstanding Inventory: Challenge Inventory in Transit: Third Party Inventory: Finished Goods (VIR) Inventory: In Transit Interco Capitalized PPV Capitalized Labor & Overhead
02 AR Aging Input Schedule This form presents a page view of the AR Aging accounts and Commentary to be captured by Business Partner for the current week. The Business Partners are displayed down the rows and the accounts are displayed across the columns. The first time a site updates the input schedule; all Business Partners will need to be added. Subsequently, the same Business Partners will be listed for input each week (no need to select all Business Partners again). After the initial Business Partner selection, only new Business Partners will need to be added in the future weeks.
To add a Business Partner not listed in the Main Page, go to Initial Entry and double click double click the cell as indicated:
The Business Partner selection box will appear. Check the box of the needed Business Partner and click OK (up to 10 Business Partners can be added at once). Once the data for the Business Partner is sent, it will move to the top section of the form. 1. 2. 3. 4. Update all necessary accounts according to the Weekly Tracker Account Definitions (page 8). Click on Send Data to send data to the database. To review the sent data, click Refresh button. When finished, click Close to exit the workbook ( DO NOT SAVE CHANGES).
03 AR Comments Input Schedule Comments must be input at Parent Level. Complete the AR Commentary fields according to Best Practices document: a) Comments for customers with past due amounts: i. Mandatory for past due amounts above $100K and 6+ days PD% greater than 10%. ii. Provide details for each bracket (1 to 5, 6 to 10, 11 to 30, etc) iii. Explain what is holding the payment iv. Explain the escalation status
04 AR Risk Input Schedule This form presents a page view of the AR Risk accounts to be captured by Business Partner for the current month. The Business Partners are displayed down the rows and the accounts are displayed across the columns. The AR Aging accounts that were completed in the Weekly Inputs for the last week of the month will automatically be loaded to this input schedule. Update the remaining accounts by Business Partner. Accounts that are updated in the Actuals Module will be loaded to this input schedule. The All Customers total must agree to the Actuals Total. To confirm, the Validation line for all accounts must be zero. 1. Update all necessary accounts according to the Weekly Tracker Account Definitions (page 8).
2. 3. 4. 5.
Click on Send Data to send data to the database. To review the sent data, click Refresh. When finished, click Close to exit the workbook ( DO NOT SAVE CHANGES). Verify Validation line = 0.
05 Inventory Risk Input Schedule This form presents a page view of the Inventory Risk accounts to be captured by Business Partner for the current month. The Business Partners are displayed down the rows and the accounts are displayed across the columns. Accounts that are updated in the Actuals Module will be loaded to this input schedule. The All Customers total must agree to the Actuals Total. To confirm, the Validation line for all accounts must be zero. 1. 2. 3. 4. 5. Update all necessary accounts according to Weekly Tracker Account Definitions (page 8). Click on Send Data to send data to the database. To review the sent data, click Refresh. When finished, click Close to exit the workbook (DO NOT SAVE CHANGES). Verify Validation line = 0. Columns in gray are lock for inputs.
07 WT Status Input Schedule WT Status input is to confirm Site Controller review information, it has to be done at Child level, once you signed one child Parent will be automatically change to Yes. Sites in exception list must do the sign off on Month end week
VIR Adjustments
AR: VIR Adjustments is populated out of last months figure, it will be weekly updated automatically and adjusted at month end. No action sites required. Inv: VIR Adjustments has to be manually adjusted in month end week.
Actuals Input
Net External Sales
Total Sales to a Third Party. Non-Revenue shipments or invoices, such as Inventory sales (Part Sales) or rent, should not be included. Input total activity for the current week only.
Deferred Revenue
Cash received or an invoice is generated but the earnings process is not yet complete and revenue is not yet recognized. Deferred income is reflected as a liability until the earnings process is complete and revenue is recognized. Input balance for the end of the week only.
AR Adjustments
Any AR adjustments not defined in the other sections. For example permanently re-classing Trade AR to Intercompany AR, Other AR, Business Partner Deposits, or some other GL account. Input balance for the end of the week only.
AR Accruals
Reversing accruals required for correcting payments/invoices that could not be corrected prior to month end. Also items shipped, but not invoiced due to system errors & payments received by the bank, and notification was not provided to Flextronics in time to post the payments before the month end cut-off. Input balance for the end of the week only.
AR Non-Revenue
Invoices in control account related to non-revenue invoices. Examples include: billings for excess and obsolete inventory, materials sold back to suppliers, Business Partners, or third party companies. Invoices for interest charges, legal fees, or invoices related to any non-revenue GL account. Input balance for the end of the week only.
Other Receivable
Other receivable not associated with trade sales and is not included in the aged AR listing supporting 1100 Trade Accounts Receivable. Example would be an AR for the sale of Fixed Assets. Input balance for the end of the week only.
Proceeds
External sale of an asset. Only include when cash is received. Input total activity collected for the current week only.
Total Purchases
Inventory receipts should be stated as gross receipts at standard cost, excluding returns. Input total activity for the current week only.
Inventory on Hand
Calculation: RAW + WIP + FG + 3rd Party + Challenge
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Gross Inventory
Calculation: Inventory on Hand + Capitalized PPV + Capitalized LOH
AR Aging Input
AR Current
Accounts Receivable balance due within Payment Terms 30, 45, 60, 75 days (See Net Payment Terms).
AR Past Due
AR Control
Includes all unpaid invoices, including: non-revenue invoices, debit & credit memos (notes), & unapplied cash. It should not include intercompany invoices or unapplied cash received from other Flextronics sites for intercompany invoices. AR Control is the sum of the following AR Past due accounts: AR Current, AR 1 5, AR 6 10, AR 11 30, AR 31 60, AR 61+. Input balance for the end of the week only.
Trade AR
Calculation: (AR Control + AR Adjustments + AR Accruals) AR Non-Revenue.
AR Past Due %
AR 6+ PD %
Calculation: AR 6+ PD $ / AR Control
AR 11+ PD%
Calculation: AR 11+ PD $ / AR Control
AR Credit Term
A number that best represents the length of time, in days, for the Business Partner credit terms. Net 30 terms would be entered as 30. Net 60 days is entered as 60. Terms such as the 10 th day after the 2nd month following product receipt should be entered as a number between 85 and 105, depending on shipping method.
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AR 11+ PD Forecast
The Trade AR balance that that is expected to be 11 or more days past due at quarter-end. The target amount for most sites is zero dollars past due.
AR PD Target %
Calculation: AR 11+PD Forecast / Total AR QTR End Forecast. The expected Target for most sites is between 0% and 2%.
AR Risk Input
Inventory & AR Credit
Credit Group will input this information for Business Partners
AR Reserve
Provision for projected un-collectible accounts from sales made in an accounting period or from the total outstanding receivables. Refer to the Corporate Collection Policy.
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OTC Accrual AR
Must be a direct result of Management's decision to disengage with a specific Business Partner or product line, resulting in collectibles issues. AR impairment needs to be above and beyond normal operational collection issues associated with outstanding AR.
AR Adjustments
Any AR adjustments not defined in the other sections. For example permanently re-classing Trade AR to Intercompany AR, Other AR, Business Partner Deposits, or some other GL account.
AR Accurals
Reversing accruals required for correcting payments/invoices that could not be corrected prior to month end. Also items shipped, but not invoiced due to system errors & payments received by the bank, and notification was not provided to Flextronics in time to post the payments before the month end cut-off.
AR Non-Revenue
Invoices in the control account that are related to non-revenue invoices. Examples include: billings for excess and obsolete inventory, materials sold back to suppliers, Business Partners, or third party companies. Invoices for interest charges, legal fees, or invoices related to any non-revenue GL account.
AR Current
Accounts Receivable balance due within Payment Terms 30, 45, 60, 75 days (See Net Payment Terms).
AR Past Due
All AR Balances past the Payment Terms.
AR 6+ PD %
Calculation: AR 6+ PD $ / AR Control
AR 11+ PD%
Calculation: AR 11+ PD $ / AR Control
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AR PD %
Calculation: AR Past Due $ / AR Control
AR at Risk
Invoices that are not likely to be paid because of disputes (the Business Partner has financial problems and cannot pay or refuses to pay). These may or may not be specifically reserved in the AR Reserve account.
Forecast AR
Estimated AR reserve at month-end (include expected increases or reductions to the reserve during the month. This number should equal or be greater than "Actual AR at Risk".
Business Partner AP
AP balances due to Business Partners who are also suppliers of materials used in the Business Partner BOM. This should include the market value of consigned materials purchased by or given to Flextronics at no charge.
Inventory on Hand
Calculation: RAW + WIP + FG + 3rd Party + Challenge
Inventory Reserve
Provision for expected excess and obsolescence from operating activities
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Inventory on Order
Calculation: Excess Inventory on Order + Obsolete Inventory on Order
Inventory Reserve
Provision for expected excess and obsolescence from operating activities
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Forecasted SIP
Forecasted Services in Progress at month end. le or scrap value.
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