General Ledger Setup - FAQ FREQUENTLY ASKED QUESTIONS
1. What responsibility should I use when doing the set up for General Ledger?
2. What are the pre-requisites required to define a new calendar?
3. What are the pre-requisites required to define a new set of ooks?
4. Why must I check the calendar definition before assigning it to a set of books?
5. What General Ledger profile options need to be set up?
6. Can I define more than one set of books?
7. What type of set of books do I need: Primary, Reporting or None?
8. Are there any mandatory accounts that are required for the Set of Books definition?
9. What is Dynamic Insertion? Is it required during setup?
10.Do I need Cross Validation rules set up before entering journals in General Ledger?
11.Do I need to turn Suspense posting on?
12.Is there an automated tool to load the account segment values in Oracle General Ledger?
13.Do I need to set up Journal Approval?
14.What does the check box Balance Intercompany mean on the set of books form?
15.Is there any setup at the journal source level to view subledger ata in GL?
16.What is the option Rounding Differences Account in the Set of Books form?
17.Is there any additional maintenance for Sources and Categories in General Ledger after these items are initially setup?
18. Is there a script to check each ORG_ID and the associated setting?
19. How to review GL: Set of Books profile options at all levels?
20. Can I change the functional currency for an existing set of books?
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 References Oracle 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 maintenannce 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.
FAQ Summary
What manual should I read for more information on GL Transfer?
What are the MetaLink keywords I should use when searching for more information about the GL Transfer?
Is it possible to automate the transfer to GL, import and posting process in GL by scheduling a request?
Is it possible to post receipts and transactions separately to GL?
What does AR store in the REFERENCE1 through REFERENCE10 columns of the GL_IMPORT_REFERENCES?
In Oracle Receivable, when you create an invoice, the gl_date_closed and actual_date_closed are initialized to '31-DEC-12', why does this occur?
FAQ Details
Q: What manual should I read for more information on GL Transfer?
A: You can find detailed information on GL Transfer in the Receivables User Guide, Chapter 8 – Accounting for Receivables.
Q: What are the MetaLink keywords I should use when searching for more information about the GL Transfer?
A: ARGLTP, General Ledger Interface, GL Transfer
Q: Is it possible to submit the transfer to GL, import and posting process in GL automatically by scheduling the request?
A: The General Ledger Transfer Program cannot be scheduled. It needs to be submitted from the Run GL Transfer form within AR due to validations done through this form.
Q: Is it possible to post receipts and transactions separately to GL?
A: The GL Transfer is not design to distinguish between transactions and receipts. If the receipts and the transactions have the same gl date, there is no way to post the one type and keep the other type in AR.[top]
Q: What does AR store in the REFERENCE1 through REFERENCE10 columns of the GL_IMPORT_REFERENCES?
In Oracle Receivable, when you create an invoice, the gl_date_closed and actual_date_closed are initialized to '31-DEC-12', why does this occur?
A: Date 31-DEC-12 in columns gl_date_closed and actual_date_closed in table ar_payment_schedules means that the transaction / receipt has not been closed yet. Once a transaction is closed through an application or adjustment these dates get changed to date, the latest action against the transaction took place. .
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