Checked for relevance on 08-May-2006.
When investigating problems in this area the solution is often in the relevant
White Paper which also provides a useful insight into the Topic. Please refer to
the White Paper Enabling Secondary Tracking Segment for an Existing Set of Books
at Note 261961.1 and Variable Format Reports at Note 225818.1.
General Ledger Setup - FAQ
--------------------------
FREQUENTLY ASKED QUESTIONS
--------------------------
July 2003
1. What responsibility should I use when doing the set up for General Ledger?
2. What are the pre-requisites required to define a new calendar?
3. What are the pre-requisites required to define a new set of books?
4. Why must I check the calendar definition before assigning it to a set
of books?
5. What General Ledger profile options need to be set up?
6. Can I define more than one set of books?
7. What type of set of books do I need: Primary, Reporting or None?
8. Are there any mandatory accounts that are required for the Set of
Books definition?
9. What is Dynamic Insertion? Is it required during setup?
10. Do I need Cross Validation rules set up before entering journals in
General Ledger?
11. Do I need to turn Suspense posting on?
12. Is there an automated tool to load the account segment values
in Oracle General Ledger?
13. Do I need to set up Journal Approval?
14. What does the check box Balance Intercompany mean on the set of books form?
15. Is there any setup at the journal source level to view subledger data in GL?
16. What is the option Rounding Differences Account in the Set of Books form?
17. Is there any additional maintenance for Sources and Categories in General
Ledger after these items are initially setup?
18. How to review GL: Set of Books profile options at all levels?
19. Can I change the functional currency for an existing set of books?
QUESTIONS & ANSWERS
-------------------
1. What responsibility should I use when doing the set up for General Ledger?
Use a seeded responsibility like 'Oracle General Ledger Super User'.
You may also need to use the System Administrator responsibility.
2. What are the pre-requisites required to define a new calendar?
According to your business needs you need to decide the calendar
type required i.e. monthly, weekly or biweekly, the number of periods,
adjusting periods and the maximum number of periods within a fiscal year.
3. What are the pre-requisites required to define a new set of books?
Define a Calendar, Chart of Accounts and enable the functional Currency
for the set of books.
4. Why must I check the calendar definition before assigning to a set of books?
The calendar definition cannot be changed once it is assigned to a
set of books so it is very important to check that the calendar
definition is suitable to the specific business needs, has been defined
correctly without any gaps and that the period type is in accordance
with the business requirements.
5. What General Ledger profile options need to be set up for using
a new set of books with a responsibility.
The profile option GL Set of Books Name.
Once this profile option is set, the profile option GL Set of Books ID
will be populated automatically with the appropriate id.
You may also need to set up other profile options as mentioned in the
Oracle General Ledger User's Guide.
6. Can I define more than one set of books?
Multiple sets of books may be defined within Oracle General Ledger,
however for a given installation of Oracle subledgers you can use
only one set of books (unless you are multi-org).
7. What type of set of books do I need: Primary, Reporting or None?
The Primary and Reporting options are used with the MRC feature of
Oracle Applications. If you are not using MRC then you may choose
'None'
8. Are there any mandatory accounts that are required for the Set of
Books definition?
A valid Retained Earnings account needs to be assigned on the set of
books form. Depending on the other options you may choose, such as
Translation, Suspense Accounting, Encumbrance, etc. you need to enter
valid accounts for those as well.
9. What is Dynamic Insertion? Is it required during setup?
Dynamic insertion is an Accounting Flexfield feature whereby you can
allow users to create new combinations upon entering a flexfield
combination.
For every new flexfield combination entered, a unique code combination
id is also created which is used to enter and retrieve data.
You may enable or disable this Accounting Flexfield feature at any time,
on the Key Segments form.
10. Do I need Cross Validation rules set up before entering journals in
General Ledger?
If you plan to restrict certain accounts to be used only with certain
company or cost centers then you have to plan on this and define cross
validation rules before the code combination id is created.
Once the code combination id is created, new cross validation rules
will not restrict the account's usage.
11. Do I need to turn Suspense posting on?
It is not mandatory but if suspense posting is checked, a valid suspense
account must be entered in the set of books form. It is used to balance
journal entries for which the entered amounts are out of balance.
12. Is there an automated tool to load the account segment values
in Oracle General Ledger?
No, the values have to be entered using the Segment Values form in
Oracle General Ledger.
(N) Setup > Financials > Flexfields > Key > Values
References
Oracle General Ledger User Guide
13. Do I need to set up Journal Approval?
It can be set up at any time and is not a mandatory step for completing
the General Ledger setup.
14. What does the check box Balance Intercompany mean on the set of books form?
If journals are created for different balancing segment values, the
journal must be balanced by balancing segment value (debits must equal
credits for a particular balancing segment value). Checking this option
on the set of books form will allow GL to balance these journals by using
the default intercompany accounts set up in Oracle General Ledger.
If it is not checked, the journal must be balanced (by balancing segment
value) before it is imported or posted.
15. Is there any setup at the journal source level to view subledger data in GL?
Check the option 'Import Journal Reference' for each journal source/category
combination for which you wish to transfer the subledger reference data
from the subledgers during the Journal Import process.
Please note that the following may also have to be verified to view subledger
data in GL:
1. Subledger setup.
2. The parameters for the transfer process from the subledgers.
3. Journal import process parameters.
16. What is the option Rounding Differences Account in the Set of Books form?
When transactions are entered in foreign currencies the conversion to
the functional currency may cause rounding differences.
The Rounding Differences account is used to balance any journal entry
for which the converted amounts are out of balance.
When this option is checked, a valid account combination must be
defined to track the rounding differences.
17. Is there any additional maintenance for Sources and Categories in General
Ledger after these items are initially setup?
Once General Ledger Sources and Categories are setup, there is no additional
maintenance.
18. How to review GL: Set of Books profile options at all levels ?
Responsibility = System Administrator
Navigation = Profile/System
1. Check the desired display boxes: Site, Application, Responsibility and User
2. In the Profile field, enter GL Set of Books% and click on the
[Find] button.
19. Can I change the functional currency for an existing set of books?
It is neither recommended nor supported to change the currency of a
Set of Books that is currently in use.
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