General Ledger

GL Calendar

In GL calendar is of 2 types...more

GL Chart of Accounts Setup

An account in any organization is a combination of many fields like Company, Division, Location, Account, etc. these fields are known as flexfields. It is of 2 types...more

Legal Entity 

It is the registered office (Head office) & used for paying the taxes. In R12 it is must to define a Legal Entity & attach it to the Ledger...more

Accounting Options 

In order to define accounting options. Navigate to GL Responsibility > Setup > Financials > Accounting Setup Manager > Accounting Setups à Search for the Primary Ledger & click on Update Accounting Options...more

Defining Users & Adding Responsibilities 

Until now we were using Operations user & system provided Responsibilities. Now we’ll create our own responsibilities & user...more

Opening & Closing Periods 

An accounting period is opened so that we can enter journals, post financial information & generate reports. Along with Open & Close, there are many other statuses which are possible. These are...more

Cross Validation Rules 

Cross validation rules are used to prevent users from entering incorrect details for chart of accounts. We can set cross validation rules either for entire account...more

Data Access Set 

Data Access Set is used to restrict the users to a particular Ledger it means that a user working in...more

Security Rules 

It is used to restrict specific segment values at responsibility level. It is of 2 types...more

Allow Dynamic Inserts 

While creating Chart of Accounts, we have enabled the option ‘Allow Dynamic Inserts’. With this we can insert the Accounts header directly. But if we want the user to be restricted to only pre existing Accounts...more 

Journal Entry 

In most of the cases, journal entry will be an automated system. But in some rare cases (like Lease management system), we might need to do journal entry manually...more

Suspense Journals 

It is used to account for Suspense account while posting unbalanced general ledgers. Mainly it is used when we interface data from some other (or legacy) system. Chances are very high that the journals which are posted are unbalanced...more

Summary Accounts 

Summary Accounts are used to report the balances of similar range of accounts like direct expenses, indirect expenses etc. There are several ways of achieving this...more

Mass Allocations 

Mass Allocation process is used to allocate expenses or revenues to various cost centers (departments) as per the usage factors. For example if 3 departments of a company have occupied the space in the company premises as per the below mentioned specification...more

Foreign Currency Journals 

Foreign Currency Journals are used to convert one currency type into another. Different conversion types are...more

Revaluation 

Revaluation is used when our organization is working in more than 1 currency (like USD & INR). 

It is a process of revaluing balance sheets accounts (which includes Current Assets & Current Liabilities). It is available in...more

Inter company transactions 

Inter company transactions are the transactions between the balancing segments across Legal Entities.

Following Setups are required in order to achieve this...more

Reporting Currencies 

Reporting Currencies are used to report functional currency balances into one or more foreign currencies. It is of 3 types...more

Secondary Ledger 

It is optional and are additional accounting representation of the Primary Ledger which differs in one or more attributes like currency, calendar, chart of accounts and sub ledger accounting methods. It is of 4 types...more

Secondary Ledger with Journal Method 

Define Secondary Ledger with journal method: Navigate to Setup > Financials > Accounting Setup Manager > Accounting Setups à Search for Primary Ledger -> Click on Update...more

Elimination Sets 

Elimination sets are used to eliminate Inter company balances to be transferred from subsidiary ledger to the parent ledger. We have to run the elimination sets before running the consolidation for specific period...more

Budgets 

Budgets are used for planning and controlling our expenditures. It is a collection of budget periods, accounts and amounts. Following setups are required to achieve this...more

Financial Security Group 

FSG is a feature used to generate financial statements. The main components of FSG are Row set, Column Set, Content Set, Display Set, Order Set, Order Set, Report and Report Set...more