Wednesday, October 15, 2014

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
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
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                      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_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                      Window prompt                 Column            Value Set
Company                Co                                          Segment 1        XX_Company
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.
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
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 Account Type
0 Unspecified No Yes, Yes Expense
1000 Total Liabilities Yes No, No Liability
1001 Capital Account Yes,Yes Ownership
1002 Retained Earnings Yes, Yes Ownership
1003 Sundry creditors Yes, Yes Liability
1004 Rent payable Yes, Yes Liability
1005 Salary and wages payable Yes, Yes Liability
1006 Provision for depreciation Yes, Yes Liability
1007 Provision for bad debts Yes, Yes Liability
1008 Accrued Expenses Yes, Yes Liability
1009 Future dated payment Yes, Yes Liability
1010 Cost of removal – Clearing Yes, Yes Liability
1011 Intercompany Payables Yes, Yes Liability
1012 Deferred Depreciation Reserve Yes, Yes Liability
1013 Payables Suppliers Yes, Yes Liability
1014 Tax Payable Yes, Yes Liability
1015 Unearned Revenue Yes, Yes Liability
2000 Total Assets Yes No, No Asset
2001 Sundry debtors Yes, Yes Asset
2002 Cash Yes, Yes Asset
2003 Building Yes, Yes Asset
2004 Vehicle Yes, Yes Asset
2005 Computers Yes, Yes Asset
2006 Machinery Yes, Yes Asset
2007 Cash Clearing Account Yes, Yes Asset
2008 Proceeds of Sale – Clearing Yes, Yes Asset
2009 Intercompany Receivables Yes, Yes Asset
2010 Depreciation Adjustments Yes, Yes Asset
2011 Asset Clearing Account Yes, Yes Asset
2012 Prepayments Yes, Yes Asset
2013 Receivable Factoring/Remittance Yes, Yes Asset
2014 Other Receivables Yes, Yes Asset
2015 Autoaccounting Clearing Yes, Yes Asset
3000 Total Revenue Yes No, No Revenue
3001 Sales – Training Yes, Yes Revenue
3002 Discount Received Yes, Yes Revenue
3003 Realized Gain Account Yes, Yes Revenue
4000 Total Expenses Yes No, No Expense
4001 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.

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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