Oracle Training - Defining Ledgers in General Ledger Part 2 - Oracle E-Business

the first thing we need to do is define
our illegal entity and to do that we
need to go into setup financials
accounting setup manager and accounting
setups from the accounting setup manager
will select create account in setup and
then we create a legal entity territory
I'll leave that as the United States
legal entity name I'm just going to call
it Yemi demo cooperation organization
name
Yemi demo Corp a legal entity identifier
is going to provide DC 0 0 1 e int I
number Y DC 1 2 3 4 5 it is a
transacting legal entity I'm just going
to select an existing address just do a
search click on go so I'm going to
select one which is my PD for New York
click on apply that's the address of my
legal entity okay you could have created
your own address if you wanted to and
selected it from the police so takes us
back to the main screen which is in
accounting setup and I'm going to select
them add another row I'm going to search
for my legal entity that I've just
created in my list of values we will
type in Yemi percentage I'm going to
click on go and let's find my Yemi demo
cop ok for my quick select and then I'm
going to click on next the premier
ledger which is what I'm going to define
I'm going to call it Y DC
on the school led on the score zero one
and then my chat of account will be my
why hole chart of accounts that I
created other one which is my account in
flex and then my calendar I'll be
selecting the accounting month so I'll
be using the accounting month calendar
currency I'll use US dollars that's the
currency and then sublet your accounting
method I'll use standard accrual so
that's the M standard accrual but I'll
be using I'm not using any second row
ledger so I'm just going to click on
next so that's my legal entity
accounting structure they can't finish
and then I'll define my accounting
options in our ledger options so if I
select my define accounting options so
now we now update the ledger options by
selecting the update icon I'm going to
select the first ever open period I'm
going to change that to December 0 9
2000 and 2009 and then I'm going to
select the future entry appears to be -
- I'll leave this sub ledger accounting
method or standard accrual and then
click on next to go to the next screen
and here we'll select the return
earnings account and we use the one that
we created earlier on
and from the accounting structure this
is actually showing our our accountants
structure that we defined earlier on
company Department account product and
spare the company's segments that we
want to use is going to be 0 0 1 sorry 0
1 and then which is our UK operations
department we use the balance sheet
which is all these zeros so that's my
balance sheet and then the account we
use double 3 1 2 3 3 1 and we just do a
percentage so we'll see the one that we
created as well that's one that we
critical wipe our retained earnings
product segment we'll use all the zeros
just pick one of the products which is
no product at all and then spare
segments we use the default as well
which is old all the zeros as well which
is not applicable search is not founded
so we're going to create it dynamically
because we actually have dynamic inserts
which done so that's actually created it
code for us dynamically for suspense
account we're going to use again company
0 1 search we're going to use create
button to dynamically create the account
for us so that's mainly for the journal
processing I'm not going to enable
approvals uh nope I'm not going to
enable journal entry tax as well and
then for my accumulation I'm not even
going to specify period and rage type I
could if I wanted to just give you an
idea of examples so you could say that
at the end of the period you want to use
corporate rate
daily exchange rate and so on or actual
rate so it is some examples of what so
if you wanted to you could also put an
average period rate as well so for my
account I'm going to put in a cumulative
adjustment account company again I'm
going to enter zero one department
department all the zeros and for the
account I'm going to use a 3/5
percentage and that's my cumulative
adjustment account put up all the zeroes
and my spare account and gain all the
zeroes and I'm going to use my code
combination to create so normally when
you setup your general ledger you will
not allow dynamic insert by default
because you could easily create code
combination of that on a valid and that
is why you'd normally use your security
rules to make sure that people don't
just create account combinations that
doesn't make sense to your accounting
structure so general reconciliations I'm
just going to leave that as ease budget
control leave it as ease average balance
time I'll just leave them as these and
I'm going to click them next
once you've selected next brings you
through this summary page and click on
finish then we can look at other things
like setting up our reporting currencies
if we need to so if i click an update
and we needed to add a reporting
currency we can add one but I'm just
going to click on complete that gives me
a lot of take there and then balance and
segment values again
I just want to update that so if you
need to add some balance segment values
I can add balance the segment value and
I'm just going to click a complete give
me little teak and then I can also
define and maintain operating units and
I'm so if I wanted to define on an
opportunist for my ledger I can but I'm
just going to click on complete and the
same goes with my document sequencing if
I wanted to enter document sequence I
can just add one if not I just click on
a complete select complete from the
status and click on apply and that's my
legal entity completed just going to
click on complete and return to my
accountant setups and this completes the
demonstration of how to create your
ledger thank you very much