Chart of Accounts

Navigation for creation of Accounting Structure

 Creation of Structures

Create the Structure under the General Ledger Application

 Creation of Segments
• Select the Structure name and click on to the Segments button.
• In the Segments form, minimum 2 and maximum 30 segments can be
created.
• Create the Segments as per requirements.
• Value set needs to be created and attached against each segments
• Flexfield qualifiers need to set for each segments.
Assigning of Flexfield qualifiers to segments
 Creation of Value set
• Select the segment and click on to the Value set button
• Enter the Value set name, List type, security type, Format type and
maximum size for each segment.
• Attaching the value set to the corresponding each segments.
 Creation of Values

• Accounting Values needs to be created against each value set.

Navigation for Creation of Values
• Select the Value set from Find values by option and enter the value set
name to create the new values and as well as to view the existing values.
 Creation of Values
Enter the Values, description, start date and Segment Qualifiers (Assets,Liabilities,Income,Expenses)
 Journal Transactions
• Navigation for Journal Entry
Click on to the New Journal for entering new
journal
Ledger will automatically defaulted and we need to enter the Journal Batch name and
description and in Line we need to specify the Debit account and credit account.
Entering the account for debit and credit
Save the transaction and click on to the Post
button to post the transactions in GL.
Auto Concurrent will run to post the entry
Concurrent list
Trail Balance Report
Recurring Journal Concepts
• Define recurring journal formulas for transactions that you repeat
every accounting period, such as accruals, depreciation charges, and
allocations.
• We can use recurring journals to create three types of journal entries.
• Skeleton Journal Entries, Standard Recurring Journal Entries,
Recurring Journal Formula Entries.
Navigation for Recurring Journal
Enter the Batch, description and Journal entry
details.
Click on to the Lines button and enter the line and
account details for debit and credit account in the
lines form
 Generate the Recurring Journal
• On Selection of Generate button system asks the decision to submit the
request or can schedule the request.
• You can generate the Recurring journal for all the opened GL periods.
• On Submit, the parameters window will open.
• Enter the period to which need to generate the Recurring journal
• Submit.
Concurrent Report output
• Once the request completed, we can see the journal created through
recurring journal in the Journal form with Un-posted batch status.
• Click on to the post button to post the JV
Auto Reversal Concept
• If you routinely generate and post large numbers of journals, reversals
as part of your month end closing and opening procedures, you can
save time and reduce entry errors by using Automatic Journal
Reversal to automatically generate and post your journal reversals.
Steps for Auto Reversal
• First you define journal reversal criteria for journal categories.
• Journal reversal criteria lets you specify the reversal method, period
and date.
• You can also choose to enable automatic generation and posting of
journals.
• When you create a journal entry you want to automatically reverse,
specify a journal category that has assigned reversal criteria.
• Your journal will be reversed based on the method, period and date
criteria you defined for that journal category.
Navigation for Auto Reversal
• Define reversal criteria by journal category in the Journal Reversal Criteria
window.
• Enter and post Actual journals with journal categories that have reversal
criteria defined.
• Choose one of the following to reverse your journals:
a. Run the Open Period program to launch the Automatic Reversal
program. or
b. Navigate to the Submit Request window and select the program,
Automatic Reversal.
• All reversal journals with AutoReverse and AutoPost enabled will be
generated and posted according to the reversal criteria you defined
• We need to attach the Reversal Criteria set to Corresponding Ledger
• Then run the program “Program- Auto Reversal”.
• Select the Ledger, Period as parameter.
Concepts of Translation of GL Balances
• Translation is the process of translating account balances from your
functional currency to another currency. This process translates
balances only, it does not translate individual transactions.
• You can translate your actual and budget account balances from your
functional currency to another currency.
• If you want to report financial results in Euro you can use General
Ledger's translation feature to translate your account balances from
your functional currency to Euro.
 Translation Setup
• Define a period in your calendar that precedes the first period you
want to translate.
• Define a period in your calendar following the period you want to
translate.
• Enter period and historical rates for your target currency
• If you are translating budgets, define your source and target budgets.
 Define Currency Translation Options in Ledger
Enter Default Period End Rate Type, Default Period Average Rate Type and Cumulative Translation Adjustment Account
from Currency Translation Option in Ledger
Navigation for Translation
• Select Actual for the Balance Type to translate
• Standard: To translate standard balances only.
• Average: To translate average balances only.
• Both: To translate both standard and average balances.
• Mark the All checkbox to translate balances for all balancing segment values,
or enter a single Balancing Segment Value for which you want to translate
balances.
• Enter the Target Currency to which you want to translate. You can choose
any enabled currency other than your functional currency.
• Enter the Period of the balances you want to translate.
• Choose the Translate button to begin a concurrent process to translate
account balances. General Ledger displays the request ID (Req ID).
Run Trail Balance – Translation to review the
converted balances in the given currency
Trail Balance Report Output(USD)
 GL Budget Setup
• Define Budget
• Budget Organization
• Budget Journal
• Budgetary Control
Define Budget
• Need to Open the Budget Period
• Auto Concurrent will run to open the period
Define Budget Organization
Enter the Account Range
• Auto Concurrent will trigger for Assign Budget
Set Budgetary control Options
Budget Amounts