Oracle Financials – General Ledger Overview.
Recently I got an opportunity to look over the Oracle Financials General Ledger guide for some functional references and got involved in it completely.
I am just providing a basic outline of some important topics of interest within Oracle General Ledger
The options to reach in R12 is also given for reference
Accounting Cycle
Common Setup
- Define a new User with access to all responsibilities – Security – User – Define
- Create value sets – Setup – Financials – Flexfileds – Validation – Sets
- Define Accounting Flexfield structure (COA) – Setup – Financials – Flexfields – Key – Segments
- Enter Segment Values – creating list of individual values that will appear in the LOV of each segment – Setup – Financials – Flexfileds – Key – Values
- Define Accounting Calendar – Setup –Financials – Calendars – Types
- Verify Functional Currencies are enabled – Setup –Currencies – Define
Accounting Setup Manager
- Defining a Ledger
Tasks involved
- Create Legal Entity – Setup – Financials – Accounting Setup Manager – Accounting Setups
- Create Accounting Setup
- Define a Primary Ledger
- Assign Reporting Currency
- Currency
- Currency Conversion Level
- Complete Ledger Options
- First Ever Opened Period
- Future Periods
- Retained Earnings
- Suspense Account
- Rounding Difference Tracking Account
- Cumulative Translation Adjustment Account
- Complete Reporting Currencies
- Default Rate Type
- Retain Transaction Rate Type
General Ledger Setups
- Create Responsibility to the Controller
- You will view the system generated data access sets that were created when you created your primary ledger and reporting currency using Accounting Setup Manager. Then you Gl will create a new responsibility that will be associated with the system generated data access set
Tasks involved
- View system generated data access sets
- Create Responsibility
- Assign a menu
- Fill in request group details
- Assign data access set to a responsibility
- Attach responsibility to the user
- View Account Combinations Created with dynamically Insertion – Setup – Accounts – Combinations
- Create a Security Rule – Setup – Financials – Flexfileds – Key – Security – Define
- Define Security Rules
- Define Rule Elements
- Assign the Rule to the Responsibility
- Define/Test Cross Validation Rules – Setup – Financials – Flexfileds – Key – Rules
- Commission Rule – Prevent the Administration (100) and Finance (150) departments from receiving commission payments (Account 5150)
- Balance Sheet Rule – Prevent balance sheet account codes from being used with anything but balance sheet departments (and similarly with P&L account codes and departments)
- Revenue Rule – Allow only sales departments to be used with
- Define/Test shorthand aliases – Other – Profiles
- Open First Accounting period – Setup – Open/Close
- Run General Ledger Reports – Reports – Requests – Standards
- Account Hierarchy Manager –Setup – Accounts – Manager
Basic Journal Entries
- Setup Journal Sources – Setup – Jounral –Sources
- Setup Journal Categories – Setup – Jounral –Categories
- Create Journal Batch – Journal – Enter
Task involved
- Record Purchases
- Journals – Enter
- Record Sales on Account
- Create Journal Batch (Multiple Journals) – Journal – Enter
- Create Single Journal
- Post Journals – Journals – Post
- Post Journal Window
- Review Journal Entries and Account Balances – Inquiry – Account
- Reverse a journal Entry
- Manual
- Generate Reversal Window
- Profile options – Auto Launch Reversal after period open
- Run Automatic reversal concurrent process
- Setup Suspense Account – Setup – Accounts – Suspense
- Create STAT journal
- Define Statistical Unit of Measures
Summary Accounts
- Summary Accounts – Setup – Financials – Flexfileds – Key – Groups
Advanced Journal Entries
- Create Recurring Journals – Journals – Define – Recurring
Task involved
- Create Skeleton Recurring Journal Batch
- Generate the journals for the current period
- Verify the process completes -View -Request
- Create the standard Recurring Journal Batch
- Generate the journals for the current period
- Verify the process completesView -Request
- Create the formula Recurring Journal Batch
- Generate the journals for the current period
- Verify the process completesView –Request
- Define Mass Allocation – Journals – Define – Allocation
Task Involved
- Create a single Journal
- Generate Mass Allocation
- Verify the process completesView –Request
- Define Sequencing
Task Involved
- Setup Accounting Sequencing
- Assign Sequence and Create new Sequence
- Journal Line Reconciliation – Journal – Reconciliation – Reconcile
Task Involved
- Enable reconciliation – Setup – Financials – Flexfields – Key – Values – Reconcile – Yes
- Enter reconciliation reference
Budgeting
- Create a Budget – Budget – Define – Budget
- Create a Budget organization – Budget – Define – Organization
- Enter Budget Amounts – Budget – Define – Amounts
- Load Basic Budget – Budget –Launch Budget wizard
- Transferring budget data – Budget – Enter -Transfer
Advanced Security
- Create Ledger Set – Setup – Financials – Ledger Set
- View system generated DAS – Setup – Financials – Data access Set
- Assign Responsibility – File – Switch Responsibility
- Submit Reports using Ledger set – Report – Request – Standard
- Close Periods for multiple Ledgers in Ledger set
- Create Data Access Set with Read / Write Access
- Create Data Access Set – Setup – Financials – Data access Set
- Assign Responsibility – File – Switch Responsibility
- Change Profile options – Profile – System
- Query Journal
- Define Definition Access Sets and secure definitions
- Define Definition Access Set – Setup – Financials – Definiton access Set – Define
- Assign Access – Setup – Financials – Definiton access Set – Assign
- Assign super user Definitons Access set
- Secure definitions
MultiCurrency
- Define Currencies – Setup – Currencies – Define
- Define Rate Types – Setup – Currencies – Currency Rates Manager – Rate Types
- Define Daily Converison Rates – Create Daily Rates
- Enter Foreign Journal
- Enter Journal with Converision Rounding Differences
Consolidation
- Setup and perform consolidation – Consolidation – workbench
Period Close
- Close the periods for multiple users – Reports – Request – Standards
Financials Reporting
- Create Row Set – Reports – Define – Row set
- Create Column Set – Reports – Define – Column set
- Define Report – Reports – Define – Report
- Define Content Set – Reports – Define – Content Set
- Define Row Order – Reports – Define – Order
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