steps to setup set of books

8/3/2019 Steps to Setup Set of Books

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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 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


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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



Format Type Char

Maximum Size 3

Uppercase only Yes


1.3. Accounts

Field Name Value

Value Set Name XX_Accounts

Description XX_Accounts



Format Type Char

Maximum Size 4

Uppercase only Yes
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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 structureField 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_VIEWNote: Use only Characters, Numerals and underscore while entering a view name.

Note: You can select Segment Separator from the LOV. Here we have selectedPeriod(.).

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
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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.
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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
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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
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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


cursor in the respective parent segment value (100)

2.4. Select (Button) Define Child ranges

2.5. Enter the following information
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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 Type0 Unspecified No Yes, Yes Expense

1000 Total Liabilities Yes No, No Liability1001 Capital Account Yes,Yes Ownership

1002 Retained Earnings Yes, Yes Ownership

1003 Sundry creditors Yes, Yes Liability1004 Rent payable Yes, Yes Liability1005 Salary and wages payable Yes, Yes Liability

1006 Provision for depreciation Yes, Yes Liability1007 Provision for bad debts Yes, Yes Liability

1008 Accrued Expenses Yes, Yes Liability

1009 Future dated payment Yes, Yes Liability1010 Cost of removal Clearing Yes, Yes Liability

1011 Intercompany Payables Yes, Yes Liability

1012 Deferred Depreciation Reserve Yes, Yes Liability1013 Payables Suppliers Yes, Yes Liability

1014 Tax Payable Yes, Yes Liability1015 Unearned Revenue Yes, Yes Liability

2000 Total Assets Yes No, No Asset2001 Sundry debtors Yes, Yes Asset

2002 Cash Yes, Yes Asset2003 Building Yes, Yes Asset

2004 Vehicle Yes, Yes Asset2005 Computers Yes, Yes Asset

2006 Machinery Yes, Yes Asset2007 Cash Clearing Account Yes, Yes Asset

2008 Proceeds of Sale Clearing Yes, Yes Asset2009 Intercompany Receivables Yes, Yes Asset

2010 Depreciation Adjustments Yes, Yes Asset2011 Asset Clearing Account Yes, Yes Asset

2012 Prepayments Yes, Yes Asset

2013Receivable

Factoring/RemittanceYes, Yes Asset

2014 Other Receivables Yes, Yes Asset

2015 Autoaccounting Clearing Yes, Yes Asset3000 Total Revenue Yes No, No Revenue

3001 Sales Training Yes, Yes Revenue3002 Discount Received Yes, Yes Revenue

3003 Realized Gain Account Yes, Yes Revenue
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4000 Total Expenses Yes No, No Expense4001 Sales Expense Yes, Yes Expense

4002 Rent Expense Yes, Yes Expense


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

respective currency
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steps to setup set of books

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