Steps to Setup Set of Books
Transcript of Steps to Setup Set of Books
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Steps to setup set of Books, Calendar and Company in Oracle Apps
Set of Books
A set of books consists of Chart of Accounts, Accounting Calendar and Functional
Currencies for a company or group of companies. If you need to get reports in
multiple currencies then you will have to create a separate set of books for each
currency. The Primary set of books will be for functional currency. You can enable
budgetary control on your set of books which will create automatic encumbrances
transactions in General Ledger, Purchasing and Payables.
Chart of Accounts
Chart of Accounts is used to define accounts structure. Oracle has provided a very
flexible feature in Oracle Applications to define Chart of Account that is Accounting
Flexfields (AFF).
There are maximum 30 segments available with 25 characters length of each
segment. To Create an Accounting Flexfield the following steps need to be
performed,
Value Sets
Accounting Flexfield
Filling Value Sets with Data
Segments:
We will create the following three segments in our accounting flexfield (AFF),
Segment Qualifier
Company Balancing segment
Cost Center Cost Center segment
Natural Account Natural Account Segment
1. Define Value Sets
To define value sets login as General Ledger,
General Ledger : Setup > Financials > Flexfields >Validation > Sets
1.1. Company
Field Name Value
Value Set Name XX_Company
Description XX_Company
Security Type Non-Hierarchical Security
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List Type List of values
Format Type Char
Maximum Size 2
Uppercase only Yes
Validation type Independent
1.2. Cost Center/ Department
Field Name Value
Value Set Name XX_Cost Centre
Description XX_Cost Centre
Security Type Non-Hierarchical Security
List Type List of values
Format Type Char
Maximum Size 3
Uppercase only Yes
Validation type Independent
1.3. Accounts
Field Name Value
Value Set Name XX_Accounts
Description XX_Accounts
Security Type Non-Hierarchical Security
List Type List of values
Format Type Char
Maximum Size 4
Uppercase only Yes
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Validation type Independent
Accounting Flexfield
1. Defining the flexfield
1.1. Open the Key Flexfield segments window.
General Ledger : Setup > Financials > Flexfields > Key > Segments
1.2. Use the (Icon) Find in the Tool bar or use the Menu Bar View > Find to select
the Accounting flexfield structureField Name Value
Application General Ledger
Title Accounting Flexfield
1.3. Position your cursor in the Structure Code field and select the green+ icon to
insert a new record.
1.4. Enter the following information:
Code Title Description View Name
XX_AFF XX AFF XX_Accounting Flexfiled XX_AFF_VIEWNote: Use only Characters, Numerals and underscore while entering a view name.
Note: You can select Segment Separator from the LOV. Here we have selectedPeriod(.).
1.5. Save the work and click (Button) Segments to define the segments.
1.6. Enter the following information.
Name Window prompt Column Value Set
Company Co Segment 1 XX_Company
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Cost Centre CC Segment 2 XX_Cost_Centre
Accounts ACCT Segment 3 XX_Accounts
Note: In the value set column you are attaching the value sets created above.
2. Additional information for Company segment. (Button) Open
2.1. Click (Button) open in the above screen to provide some additional company
segment
information.
2.2. Enable the Security (Other wise the flexfield security rules will not work)
2.3. Accept the defaults for all other fields
2.4. Repeat the above steps for all the other 3 segments (Button) Open
3. Flexfield Qualifiers
3.1. To add the Flexfield Qualifiers, save the segment and then select the (Button)
Flexfield
Qualifiers to check the Enabled box on the corresponding qualifier.
Company Cost Center Account
Flexfield Qualifier Balancing Cost center Natural
Account
Note: Repeat the above step for Cost Center and Account.
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3.2. Close the segment Summary windows.
3.3. Enable the following options in the Key Flexfield Segment window
Allow Dynamic Inserts Yes
Cross Validation Rules Yes
3.4. Freeze the flexfield definition by selecting the Freeze flexfield definition Check
Box on
the key flexfield segments windows and select ok to the warning message.
3.5. Select (Button) Compile and select the Ok button to the warning message.
Select the
OK button for all the three messages.
3.6. View the requests status in the requests screen by clicking the menu View >
Requests >Find (Button).
Filling Value Sets
After creating value sets now we will populate those value sets with data.
1. Open the segment Values window.
General Ledger : Setup > Financials > Flexfields > Key > Values
2. Select key flexfield in the Find Values by region
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3. Select the following information from the list of values and select the find button.
4. In the segment values window, Title and structure will default in
5. Verify in the Independent Segment field, that the company segment appears. If
not, use
the up and down arrows to move between the segments until you locate the
company segment.
1. Company Segment Values
1.1. In the values, Effective tab, enter following information for the company
segment.
Ensure you tab through all fields.
Note: Make sure that you have given the appropriate qualifiers and Define Child
Ranges
button will only be active when you will mark the value as Parent by checking check
box.
1.2. To define parent child hierarchies, in the segment values window, place your
cursor in the respective parent segment value (10) 1.3. Select (Button) Define Child
ranges Enter the following information
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Keep Curser on Parent Value and Click on Define Child Ranges Button
2. Cost Center Segment Values
2.1. Place the cursor in the Independent segment field and down arrow to Cost
Center.
2.2. Enter the following information for the Cost Center segment.
Note: Make sure that you have given the appropriate qualifiers
2.3. To define parent child hierarchies, in the segment values window, place your
cursor in the respective parent segment value (100)
2.4. Select (Button) Define Child ranges
2.5. Enter the following information
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3. Account Segment Values
3.1. Place the cursor in the Independent segment field and down arrow to Account.
3.2. Enter the following values for the Account segment.
Value Description Parent Budget/Post Account Type0 Unspecified No Yes, Yes Expense
1000 Total Liabilities Yes No, No Liability1001 Capital Account Yes,Yes Ownership
1002 Retained Earnings Yes, Yes Ownership
1003 Sundry creditors Yes, Yes Liability1004 Rent payable Yes, Yes Liability1005 Salary and wages payable Yes, Yes Liability
1006 Provision for depreciation Yes, Yes Liability1007 Provision for bad debts Yes, Yes Liability
1008 Accrued Expenses Yes, Yes Liability
1009 Future dated payment Yes, Yes Liability1010 Cost of removal Clearing Yes, Yes Liability
1011 Intercompany Payables Yes, Yes Liability
1012 Deferred Depreciation Reserve Yes, Yes Liability1013 Payables Suppliers Yes, Yes Liability
1014 Tax Payable Yes, Yes Liability1015 Unearned Revenue Yes, Yes Liability
2000 Total Assets Yes No, No Asset2001 Sundry debtors Yes, Yes Asset
2002 Cash Yes, Yes Asset2003 Building Yes, Yes Asset
2004 Vehicle Yes, Yes Asset2005 Computers Yes, Yes Asset
2006 Machinery Yes, Yes Asset2007 Cash Clearing Account Yes, Yes Asset
2008 Proceeds of Sale Clearing Yes, Yes Asset2009 Intercompany Receivables Yes, Yes Asset
2010 Depreciation Adjustments Yes, Yes Asset2011 Asset Clearing Account Yes, Yes Asset
2012 Prepayments Yes, Yes Asset
2013Receivable
Factoring/RemittanceYes, Yes Asset
2014 Other Receivables Yes, Yes Asset
2015 Autoaccounting Clearing Yes, Yes Asset3000 Total Revenue Yes No, No Revenue
3001 Sales Training Yes, Yes Revenue3002 Discount Received Yes, Yes Revenue
3003 Realized Gain Account Yes, Yes Revenue
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4000 Total Expenses Yes No, No Expense4001 Sales Expense Yes, Yes Expense
4002 Rent Expense Yes, Yes Expense
3.3. To define parent child hierarchies, in the segment values window, place your
cursor in the respective parent segment value.
3.4. Select (Button) Define Child ranges
3.5. Enter the following information for all the 4 parent values
Reconciliation Flag: GL Entry reconciliation is a set of windows and reports that let
you selectively cross-reference transactions in General Ledger.
Control Accounts: A Control account is used for control of segment value usage ie, a
segment value qualified with control value is available for entry from sub ledgers
only and not available for GL module. Therefore you cannot use the segment value
qualified with control value directly from GL.
4.8. Switch to Oracle Applications form and place the cursor in the value field.
4.10. Select Load all cell, command Group and Window Name if any one is yet not
selected orblank.
4.11. Here is the data transferring with progress bar.
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4.12. All the records imported as shown below.
4.13. Save the data.
Accounting Calendar
You can define multiple calendars and assign a different calendar to each set of
books. For example, you can use a monthly calendar for one set of books, and
quarterly calendar for another. Now to define Accounting Calendar you need to follow
the following steps,
Period Type Definition Defining Calendar
1. Define Period Types
1.1. Open the Period Types window.
General Ledger : Setup > Financials > Calendars > Types.
2. Defining an Accounting Calendar
2.1. Open the Accounting Calendar window.
General Ledger : Setup > Financials > Calendars > Accounting
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2.2. Define an accounting calendar with the following information:
Enter a name and description to your accounting calendar XX_Calendar
Enter the following information for your thirteen period calendars.
2.3. On saving the following window will appear.
2.4. Select Current in the Decision Box.
2.5. Navigate to the request window
General Ledger: View > Request (Button) Find (Button) Output
Functional Currencies
You can define multiple currencies to enter transactions in different currencies
1. Define Currency
1.1. Open the Defining / Enabling currencies window
General Ledger : Setup > Currencies > Define
1.2. Use the (Icon) Find in the Tool bar or use the Menu Bar: View > Find to select
the Currency which you wish to use.
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Note: Scroll to right and make sure that the Enabled check box is enabled for the
respective currency
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