In this Article we will
look in to the Steps and necessary configurations involved in defining Ledger
in Oracle R12
Setting Up Ledger:
Create Legal Entity: If
it is required to assign a legal entity, It can be crated and assigned to a
Ledger from accounting setup manager.
Assign the Legal Entity to Ledger
Before setting up Ledger
options Decide up on the values that are required to be entered in the
corresponding fields in the Ledger options.
Define Ledger:
While defining the
ledger you may use the calendar, Chart of Accounts, Currency and Sub-Ledger
Accounting method defined earlier. As part of ledger setup it is mandatory to
finalize these values before defining Ledger.
Define Ledger options.
As part of the Ledger
options Definition Below mentioned are the Values which needs to be defined
which will control how journals and transactions are processed for that ledger
hence it is very important to have the values for all the below mentioned
Options Decided before setting up the Ledger on the basis of business
Functional requirement:
• First Ever Opened
Period
• Number of Future
Enterable Periods
• Retained Earnings
Account
• Sub-ledger accounting
method,
• Option to track
balances using a secondary segment
• Suspense Account
• Rounding Differences
Tracking Account
• Intercompany Balancing
option
• Journal Approval
• Journal Entry Tax
• Journal Reversal
Criteria Set
• Default Period End
Rate Type
• Default Period Average
Rate Type
• Cumulative Translation
Adjustment Account
• Journal Reconciliation
• Budgetary Control
• Reserve for
Encumbrance Account
• Average Balance
Processing
• Average Balance
Consolidation
• Net Income Account
• Transaction Calendar
If there are legal entities that require any one of the
above ledger processing options to be different, then define a separate primary
ledger for each legal entity and therefore, a new accounting setup
You will not be able to use the Ledger Unless the Ledger
options setup Shows as Complete in the ledger setup Screen.
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