Oracle general ledger setup steps r12
In this post , We will be discuss about Oracle general ledger setup steps r12. Oracle general ledger setup steps r12 helps to create the Organization Accounting structure . We do implement the Organizational structure using Oracle general ledger setup steps r12. I will try to share all the mandatory Oracle general ledger setup steps r12 with detail explanation. Please find below the step by step explanation of Oracle general ledger setup steps r12.
Concept of Oracle general ledger setup steps r12
For General ledger Setup , we first need to understand the Organization Structure in Oracle apps. To implement oracle apps application for any organization, we first need to understand the organization structure. For Example, As below, this is the Organization structure in oracle apps so to implement any Organization in oracle apps, we need to divide the organization structure as per that.
Important Points of Oracle general ledger setup steps r12
1.Create Legal Entity for the Organization Structure. Legal Entity is something comes under the Legal Registration of the company. In Legal Entity, We do mentioned the Registration information information’s of the Organization as per the Government documents for the Company.
2.Once the Legal Entity Created, We need to Create the Ledger under that Legal Entity.
To Create Any Ledger, we need 3 C’s.
3. 3 C’s means Chart Of accounts, Currency & Calendar.
4.To Create any Ledger, we must need to create the Chart Of accounts, Currency & Calendar first.
Step by Step to Implement General ledger in oracle apps r12
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
3. 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.
5. Now First part is completed as we have created the Chart of Account.
In Next part , We need to create the Accounting Calendar which we need to attach with Ledger. To Create the GL accounting calendar, we need to go to
Setup è Financial è Calendars è Accounting.
6.As below we have create the Accounting calendar ‘ Period Apr Mar’ . This Calendar will have 13 months in which 1 month will work as adjustment. Type ‘13 Months FY’.
7.Now Chart of Account and Calendar has been created and now we will be go for Currency to complete our third C. Usually , We don’t need to create the currency because oracle has already given us the most of the world currencies to use but If you want to find or create , We need to go to.
8.Once the Chart of Account, Calendar and Currency have been created, then we can Start the Configuring the Organization Accounting Structure. Go to Setup è Financials è Accounting Setup Manager è Accounting Setups.
9.Now click on the create Accounting setup button as below.
10.First in the Accounting Organization structure, we need to create the Organization Legal entity. In this below page , Either we can create the New Legal Entity or attach the existing Legal entity.
Click on the Create Legal Entity.
11.Enter the Legal Entity Information’s as below . Given the Name of Legal Entity and click on the apply button.
12.As below , in the first step , our Legal Entity has been created. Now Click on Next button.
13.In the Next Page , We will configure the GL ledger. In this Ledger as I said , We need 3 C’s (Chart of Account, Calendar & Currency). We will attach the Chart of Account, Calendar & Currency as created in the above steps for this new ledger.
Click on Next Button.
14.Enter the Required Information as below , SLA Accounting method, Balancing Segment as below.
Click on Next Button.
16.In this page , We need to entered the retained earning account & Suspense Account.
To enable the GL Journal approval , we need to select the check box ‘Enable Journals Approval’.
Click Next.
17.In the Last step of Accounting Structure , We need to enable the Journal Reconciliation checkbox.
Click on the Finish button to complete Organization accounting structure in the GL setups.
This is all most important steps related to GL setups in oracle apps r12.
18.
Summary of Oracle general ledger setup steps r12
After these steps, Our Most Important General ledger setups in oracle apps 12 has been completed. We have successfully created these below structures for Organization in GL setups.
1. Chart of Account Creation
2. GL Calendar Creation
3. Currency Creation
4. Legal Entity Creation
5. Ledger Creation
6. Accounting setups Creations
Oracle general ledger setup steps r12
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