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Steps To Setup Set of Books

1) The document discusses setting up an accounting structure in Oracle Apps including defining a set of books, chart of accounts, accounting calendar, and functional currencies. 2) Key steps include creating value sets, an accounting flexfield to define the chart of accounts structure, populating the flexfield with segment values, and defining an accounting calendar with multiple periods. 3) Functional currencies can then be defined to enter transactions in different currencies for the set of books.

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0% found this document useful (0 votes)
127 views12 pages

Steps To Setup Set of Books

1) The document discusses setting up an accounting structure in Oracle Apps including defining a set of books, chart of accounts, accounting calendar, and functional currencies. 2) Key steps include creating value sets, an accounting flexfield to define the chart of accounts structure, populating the flexfield with segment values, and defining an accounting calendar with multiple periods. 3) Functional currencies can then be defined to enter transactions in different currencies for the set of books.

Uploaded by

iamsonal
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© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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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 Company Cost Center Natural Account Qualifier Balancing segment Cost Center segment 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 Set Name Description Security Type Value XX_Company XX_Company Non-Hierarchical Security

List Type Format Maximum Uppercase only Validation type

List of values Type Char Size 2 Yes Independent

1.2. Cost Center/ Department Field Name Value Set Name Description Security Type List Type Format Maximum Uppercase only Validation type Value XX_Cost Centre XX_Cost Centre Non-Hierarchical Security List of values Type Char Size 3 Yes Independent

1.3. Accounts Field Name Value Set Name Description Security Type List Type Format Type Maximum Size Uppercase only Value XX_Accounts XX_Accounts Non-Hierarchical Security List of values Char 4 Yes

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 structure Field Name Application Title Value General Ledger 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 XX_AFF Title XX AFF Description XX_Accounting Flexfiled View Name XX_AFF_VIEW

Note: Use only Characters, Numerals and underscore while entering a view name.

Note: You can select Segment Separator from the LOV. Here we have selected Period(.). 1.5. Save the work and click (Button) Segments to define the segments. 1.6. Enter the following information. Name Company Window prompt Co Column Segment 1 Value Set XX_Company

Cost Centre Accounts

CC ACCT

Segment 2 Segment 3

XX_Cost_Centre 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 Flexfield Qualifier Account Balancing Cost Center Cost center Account Natural

Note: Repeat the above step for Cost Center and Account.

3.2. Close the segment Summary windows. 3.3. Enable the following options in the Key Flexfield Segment window Allow Dynamic Inserts Cross Validation Rules Yes 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

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

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

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 0 Unspecified No Yes, Yes 1000 Total Liabilities Yes No, No 1001 Capital Account Yes,Yes 1002 Retained Earnings Yes, Yes 1003 Sundry creditors Yes, Yes 1004 Rent payable Yes, Yes 1005 Salary and wages payable Yes, Yes 1006 Provision for depreciation Yes, Yes 1007 Provision for bad debts Yes, Yes 1008 Accrued Expenses Yes, Yes 1009 Future dated payment Yes, Yes 1010 Cost of removal Clearing Yes, Yes 1011 Intercompany Payables Yes, Yes 1012 Deferred Depreciation Reserve Yes, Yes 1013 Payables Suppliers Yes, Yes 1014 Tax Payable Yes, Yes 1015 Unearned Revenue Yes, Yes 2000 Total Assets Yes No, No 2001 Sundry debtors Yes, Yes 2002 Cash Yes, Yes 2003 Building Yes, Yes 2004 Vehicle Yes, Yes 2005 Computers Yes, Yes 2006 Machinery Yes, Yes 2007 Cash Clearing Account Yes, Yes 2008 Proceeds of Sale Clearing Yes, Yes 2009 Intercompany Receivables Yes, Yes 2010 Depreciation Adjustments Yes, Yes 2011 Asset Clearing Account Yes, Yes 2012 Prepayments Yes, Yes Receivable 2013 Yes, Yes Factoring/Remittance 2014 Other Receivables Yes, Yes 2015 Autoaccounting Clearing Yes, Yes 3000 Total Revenue Yes No, No 3001 Sales Training Yes, Yes 3002 Discount Received Yes, Yes 3003 Realized Gain Account Yes, Yes Account Type Expense Liability Ownership Ownership Liability Liability Liability Liability Liability Liability Liability Liability Liability Liability Liability Liability Liability Asset Asset Asset Asset Asset Asset Asset Asset Asset Asset Asset Asset Asset Asset Asset Asset Revenue Revenue Revenue Revenue

4000 4001 4002

Total Expenses Sales Expense Rent Expense

Yes

No, No Yes, Yes Yes, Yes

Expense Expense 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.

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

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.

Note: Scroll to right and make sure that the Enabled check box is enabled for the respective currency

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