Oracle Application's Blog: How to create Key flexfield in oracle apps

How to create Key flexfield in oracle apps

In this post , We will be discuss about How to create Key flexfield in oracle apps. Oracle has provided the concept of key flex field in oracle apps to store the most important information about organizations in oracle apps. Oracle has provided the different types of Key flexfield in oracle apps based on the Oracle Module and the business purpose. We will be discuss each of these key flexfields in oracle apps and also learn how to create the key flexfield in oracle apps. Please find below the details explanation about How to create Key flexfield in oracle apps.

3 Most Important Key flexfield in oracle apps

1.Accounting Key Flex Field

2.Fixed Asset Key Flex Field

2.Purchasing Key Flex Field

Accounting Key Flex Field:-

Accounting Key Flex Field provided by oracle to store the accounting informations for each financial transaction in oracle apps. In Accounting Key Flex Field , we do configure our chart of account structure in oracle apps which further helps to store the accounting combinations code for each financial transactions in oracle apps.

Fixed Asset Key Flex Field:-

Fixed Asset key flex field provided by oracle to store the FA related important informations in oracle apps.

Fixed Asset key flex field further divided into 3 types.

1.Asset Key flex Field

2.Asset Category Flex Field

3.Asset Location flex Field.

Purchasing Key Flex Field :-

Purchasing Key Flex Field helps to stores the Purchase Category Important informations in oracle apps. Purchasing Category , helps to store this information PO level.

Step to create Key flexfield in oracle apps

In this post , We will be create Accounting Key flexfield in oracle apps for General ledger module. This is one of the most important Key flexfield in oracle apps to implement the financial in oracle apps. Here below is the detail steps to create Accounting Key flexfield in oracle apps.

Step1:-

1. First thing, we need for the GL setup is ‘Chart Of Account’ .

Chart of Account helps to define Organization Accounting structure. Chart of Account is one of the Most important Part to decide and configure for any organization accounting structure.

2. To Create Chart Of Account , We need to go .

Setup è Financials è Flexfields è Key è Segments

How to create Key flexfield in oracle apps

Step 2:- Need to Search the Title ‘Accounting Flex-field’ to configure, Click on the ‘+’ icon to create the New chart of account for your Organization and click on the Segments button, to define the chart of Account Accounting Structure.

As below , I have created the New Key Flexfield Structure ‘XX_CHAROFACCTT_STRUCTURE’.

After that Click on Segments Buttons to create the chart of Account Segments.

4. In Segments, we will define the chart of accounts segments. Based on our Organization structure, we will define the 4 level segments as below. For Each Segments need to click on the Flexfield Qualifiers to set the right accounting nature for each Chart of Account Segment.

As below , As per our Business Structure , We have the given the First segment of chart of Account as a ‘ Balancing Segment’

As below, we have created these 4 segments for our chart of account structure. As I said above , We need to set the Flexfield qualifiers for each segment to set the accounting nature.

Once, the chart of account structure has been created. We need to create the Value set for each segment. As below, we have created 4 Value sets.

1. XXGL_BUISNESS_UNIT

2. XXGL_LOCATION

3. XXGL_DEPARTMENT

4. XXGL_NATURAL_ACCOUNT.

Now need to attach these values set with chart of Account segments. For this we need to go back to

Setup è Financials è Flexfields è Key è Segments

And find the Chart of Account Structure and Click on Segments button and then attach these values set with chart of Account segments as below.