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R12 Primary Ledger

The document discusses the setup of ledgers in Oracle Release 12. It states that a ledger replaces the concept of a "set of books" from Release 11i and allows companies to model their legal entities and accounting representations more clearly. A ledger can represent one or more legal entities and is defined by the chart of accounts, functional currency, accounting calendar, and accounting method. The document then outlines the five stages for creating a ledger: 1) create legal entity, 2) define ledger, 3) define accounting options, 4) assign legal entities to the ledger, and 5) assign balancing segment values to the legal entities. It provides navigation details and screenshots for completing each stage in the Oracle Accounting Setup Manager module.

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124 views

R12 Primary Ledger

The document discusses the setup of ledgers in Oracle Release 12. It states that a ledger replaces the concept of a "set of books" from Release 11i and allows companies to model their legal entities and accounting representations more clearly. A ledger can represent one or more legal entities and is defined by the chart of accounts, functional currency, accounting calendar, and accounting method. The document then outlines the five stages for creating a ledger: 1) create legal entity, 2) define ledger, 3) define accounting options, 4) assign legal entities to the ledger, and 5) assign balancing segment values to the legal entities. It provides navigation details and screenshots for completing each stage in the Oracle Accounting Setup Manager module.

Uploaded by

devender143
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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R12 PRIMARY LEDGER

Accounting Setup Manger


The ledger is a basic concept in Release 12. The ledger replaces the 11i concept of a set of books. It
represents an accounting representation for one or more legal entities or for a business need such as
consolidation or management reporting. Companies can now clearly and efficiently model its legal
entities and their accounting representations in Release 12. This seems to be a major area in getting
success of the shared service center and single instance initiatives where many or all legal entities of an
enterprise are accounted for in a single instance, and data, setup, and processing must be effectively
secured but also possibly shared.
Now, legal Entities can be mapped to entire Ledgers or if you account for more than one legal entity
within a ledger, you can map a legal entity to balancing segments within a ledger.
While a set of books is defined by 3Cs
1.

chart of accounts

2.

functional currency

3.

accounting calendar,

The addition in this list the ledger is defined by a 4th C: the accounting method,
This 4th C allows you to assign and manage a specific accounting method for each ledger. Therefore,
when a legal entity is subject to multiple reporting requirements, separate ledgers can be used to record
the accounting information.
Accounting Setup Manager is a new feature that allows you to set up your common financial setup
components from a central location.
General Ledger Setup Flowchart
While you can set up your Oracle General Ledger application in many different ways, and defer optional
set up steps until you are ready to use the corresponding functionality, we recommend you use the order
suggested in the following flowchart: Some of the steps outlined in this flowchart and setup checklist are
Required and some are Optional. You need to perform Optional steps only if you plan to use the related
feature or complete certain business functions.
The following setup steps are a high level overview of the setup steps related to Oracle
General Ledger and Accounting Setup Manager.

Leger is created in 5 stages


1. Create Legal Entity.
2. Define Leger.
3. Define Accounting Options.
4. Assign Legal entities to your Ledger .
5. Assign Balanceing Segment Values to respective Legal entities.

Navigation: General Ledger --> Setup --> Financials --> Accounting Setup Manager -->
Accounting Setups.

Create legal entity

Click on Create Accounting Setup and then click on Create Legal entity.

Click on Apply and then click on Next.

Define Leger

Click on Next and then Finsh.

Define Accounting OptionsDefine Accounting Options

Define Accounting Options


Click on Define Accounting Options and click on update.

Click on Next, and assign Retained earnings Account.

Click on Next, Next, and Finsh.


Assign Legal entities to your Ledger.Assign Legal entities to your Ledger.

Assign Legal entities to your Ledger.

Click on Add Legal Entity.

Click on Add Legal entity.

Add your Legal entity and click on Apply.

Assign Balancing segment values to legal entities

Click on the update Balancing Segment Values

Click on Add Balancing Segment Value.

Assign Balancing segment values to these legal entities.

Click on Apply and then click onComplete.

Once you complete leger we are getting the following Warning.

Click on Yes.

Ofter click on the yes we are getting the following confirmation.

Click on Return to Accounting Setups.

http://orafinappssetups.blogspot.in/2012/11/primary-ledger-setups.html

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