MRC initialization orders

Based on the Multiple Reporting Currencies in Oracle Applications RELEASE 11i,Chapter 5 Implementation Considerations.
There is a detail flow of Perform the Upgrade, you can find the answer about your uncertain:
Complete the steps in this section to perform the upgrade.
❑ Step 1: Stop Transactions Entry
❑ Step 2: Back Up Your Production Database
❑ Step 3: Configure MRC for the Upgrade
❑ Step 4: Open the Initial Period in Reporting Sets of Books
❑ Step 5: Reload Current Rules in Global Accounting Engine
❑ Step 6: Run the Upgrade and Initialization Utilities
❑ Step 7: Close the Initial Period in Reporting Sets of Books
❑ Step 8: Reconcile Reporting Sets of Books
❑ Step 9: Reconcile Global Accounting Engine to General Ledger
❑ Step 10: Open the First MRC Period in General Ledger[@more@]
In the Step6 : Run the Upgrade and Initialization Utilities:
There is a separate upgrade utility for each subledger application that
supports MRC:
• Assets
• Receivables
• Payables
• Projects
• Purchasing
• Global Accounting Engine
There is another utility for General Ledger that initializes account
balances in your reporting sets of books.
Caution: (If you use variable conversion rates and/or
converted historical costs to convert your assets), you must run
the Assets utility before you run the General Ledger reporting
balance initialization utility. You must also post the initializing
journal created by the Assets upgrade utility in your reporting
sets of books before you run the General Ledger reporting
balance initialization utility.
If you use a single conversion rate to convert your assets, the
Assets upgrade utility does not create an initializing journal in
your reporting sets of books. In this case, there is no
dependency between the Assets upgrade utility and the
General Ledger reporting balance initialization utility.

The subledger upgrade utilities are independent of one another.
You can run a subledger utility at any time while another
subledger’s utility is running. For example, you can run the
Payables Phase 2 utility before the Assets Phase 1 utility completes.
However, the utility phases are dependent on each other. For
example, you cannot run the Payables Phase 2 utility until the
Payables Phase 1 utility has completed successfully.

The General Ledger reporting balance initialization utility for one
combination of primary set of books and reporting set of books can
be run in parallel (并行)with Parallel Grouping I only if you are running the Assets utility using a single fixed rate to convert the assets for
the same combination of primary asset book and reporting set of
books. Otherwise, the reporting balance initialization utility must
only be run after the Assets (Phase 3) utility has completed
successfully and the resulting initializing journal posted in your
reporting sets of books.
The "To run the upgrade utilities" phase can help you to know the detail order.

Hoped that the following information may help you to understand your uncertainty well
Let me know if you have any further related questions.

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