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Friday, 30 June 2017

General Ledger Setup Questions and answers in oracle applications





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
ReferencesàOracle 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.  Is there a script to check each ORG_ID and the associated setting?
The organization ids are stored in HR_ALL_ORGANIZATION_UNITS table.
SELECT distinct (organization_id), (name)
FROM hr_all_organization_units;
 
19.  How to review GL: Set of Books rofile 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.
 
20.  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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