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Guided Demonstration - Create Accounting Setup Effective 05/21/07
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All rights reserved. Here is a graphical representation of how the legal entities and ledgers are currently defined for both the parent company and Italian subsidiary: SSC US has just acquired a Company in France called <Your initials> SSC France. Scenario SSC US. 2007.Create Accounting Setup Effective 05/21/07 Page 2 of 8 55339092. Guided Demonstration .Create Accounting Setup Logon: SSCNEWALL/Welcome Responsibility: General Ledger. a US-based company. SSC Worldwide This demonstration will show you how to use the Accounting Setup Manager to perform the accounting setup for a newly acquired company in France.doc Rev 1 . and the ledgers and reporting currencies needed to meet different reporting requirements. currently has operations in both the US and Italy. You must set up the accounting for this newly acquired company in France. You will the create entities. a non-profit organization. operating units. The following depicts how the parent company would like their French subsidiary set up: Copyright © Oracle.Guided Demonstration .
Create Accounting Setup Effective 05/21/07 Page 3 of 8 55339092. a subledger level secondary ledger is assigned that uses a different chart of accounts and accounting method. All rights reserved.• • • • There is one legal entity and one operating unit. The primary ledger represents the corporate representation that uses the same ledger attributes as the parent. except the currency is the local currency in Euros. Territory Legal Entity Name Organization Name Legal Entity Identifier SIREN SIRET Transacting Entity Address France <Your Initials> SSC France <Your Initials> SSC France <Your Initials> F123456 <Your Initials> F123456 <Your Initials> F123456 Yes 96.doc Rev 1 . Create the French Legal Entity (N) Setup > Financials > Accounting Setup Manager > Accounting Setups > (T) Legal Entity (B) Create Legal Entity Note: Only the required attributes are listed here to quickly create a legal entity. 2007. Avenue Francois Arago. To meet statutory reporting requirements for the local French authorities. 92000. Naterre. Guided Demonstration . France Copyright © Oracle. A subledger level reporting currency in US Dollars is assigned to the primary ledger for corporate reporting and consolidation needs.
Create Accounting Setup Structure (N) Setup > Financials> Accounting Setup Manager > Accounting Setups > (B) Create Accounting Setup 1. enter the following: Name Chart of Accounts Primary Ledger Flex Accounting Calendar/ Period Type Accounting13/ Month Currency Subledger Accounting Method Standard Accrual <Your Initials> SSC France PL (Corp) EUR • For the Secondary Ledger. Guided Demonstration . enter the following to define a Subledger level Secondary Ledger: Chart of Accounts SSC Secondary France Ledger Accounting Calendar/ Period Type Accounting13/ Month Currency Subledger Accounting Method FR Accrual with Encumbrance Accounting Data Conversion Level Subledger Name <Your Initials> France SL EUR • Assign a subledger level reporting currency to the primary ledger in the currency.doc Rev 1 . Create an accounting setup that includes the following setup components: • • • Legal Entity: <Your Initials> SSC France You should assign the legal entity you just created. All rights reserved. For the Primary Ledger. Verify that your structure looks something like this before saving the structure: Copyright © Oracle. 2007. USD: 2.Create Accounting Setup Effective 05/21/07 Page 4 of 8 55339092.
Once you finish creating your structure. 2007. you will receive a confirmation message informing you that you can define your accounting options now or later. Assign Specific Balancing Segment Values (BSV) to your Legal Entity Assign balancing segment value "101" to your legal entity to easily identify and secure transactions by legal entity and use Advanced Global Intercompany System. Copyright © Oracle. Update the balancing segment values and assign value 101 your legal entity. Choose to define your accounting options now. All rights reserved.Create Accounting Setup Effective 05/21/07 Page 5 of 8 55339092. Guided Demonstration . Hint: Click Update Balancing Segment Values icon for the Legal Entity. Once you assign balancing segment values to your legal entity.doc Rev 1 .3. 4. you limit the balancing segment values that can be used for transaction processing and journal entry for this legal entity and its operating units and ledgers.
33100.100. The name of the reporting currency is system-generated and named after the primary ledger with the currency of the reporting currency appended to the end of the name.0000. Use the following to completely define your primary ledger's reporting currency. This is because it is a subledger level reporting currency resulting in Subledger Accounting (SLA) handling the currency conversion to the reporting currency—NOT GL Posting.000 Notice the status is now complete for this step. select Apply and then Complete mark the step complete and return to Accounting Options page to continue with other steps. Note: By default.000 101.0000.Create Accounting Setup Effective 05/21/07 Page 6 of 8 55339092. accept the defaults. Complete Reporting Currency 6.000.000. leave the default to YES for the source and category "Other". Guided Demonstration . Name Short Name Rounding Difference Tracking Account Default Rate Type Retain Transaction Type <Your Initials> France ALC (USD) <Your Initials> SSC FR ALC (USD) 101.000. For options not listed.0000. When finished. Copyright © Oracle.000.000 Period End875 Period Average875 101. 2007. Use the following information to completely define your primary ledger. 8. 9.000. Change the name of the subledger level reporting currency to <Your Initials> France ALC (USD).100.29900. For the Journal Source and Category Conversion.100.Complete Primary Ledger Definition 5. Name Short Name First Opened Period Number of Future Enterable Entered Currency Balancing Account Retained Earnings Default Period End Rate Type Default Period Average Rate Type Cumulative Translation Adjustment Account <Your Initial> SSC France PL (Corp) <Your Initials> Whatever you want 13-04 1 101.730.000.doc Rev 1 .100.78550.0000. This means you want to automatically convert all journals entered in GL to this reporting currency. All rights reserved.000.35000.000 Corporate Yes 7. the subledger sources are set to No.
you can specify other options such as whether or not you want journals automatically posted in the secondary ledger 11.0000.000. 2007. Also.000. Use the following information to complete your secondary ledger: • • • COA Mapping: PrimAccFlex to SSC Secondary FR Post Journals Automatically from Source Ledger: Yes Retain Journal Creator from Primary Ledger: Yes 12.100. Short Code: <Your initials> France Business Group: Vision France Default Legal Context: <Your Initials> SSC France Copyright © Oracle. Journals with the source and category "Other" should be transferred to this Secondary Ledger by the Posting program.471000. Notice the status for this step is complete now.0000.0000. 13.800000.000. When finished.000. Use the following information to complete your secondary ledger: Name Short Name First Opened Period Number of Future Enterable Entered Currency Balancing Account Retained Earnings Enable Budgetary Control Reserve for Encumbrance Account <Your Initials> SSC France SL (EUR) <Your Initials> Whatever you want 13-04 1 101.000. leave the default.000.Create Accounting Setup Effective 05/21/07 Page 7 of 8 55339092. Create and Assign Operating Unit to Primary Ledger 14.000 101. For the Journal Source and Category Conversion. Add an Operating Unit using the following information: • • • • Name: called <Your initials> SSC France OU.doc Rev 1 .Complete Secondary Ledger Definition 10. All rights reserved. you need to provide instructions to the system on how to replicate journals entered in the primary ledger to the secondary ledger.100. Guided Demonstration .000. 120000.100.000 Complete Primary to Secondary Ledger Mapping Because the secondary ledger uses a different chart of accounts from the primary ledger.000.000. click Complete.000 Yes 101.
Guided Demonstration . Complete Your Accounting Setup 16. When finished. Now that you have completed the required set up steps. 2007. This will submit the General Ledger Accounting Setup Program that will generate all of the system-generated data access sets for you. you can complete the accounting setup by clicking the Complete button. click Apply and then Complete to return to Accounting Options page. 17. Copyright © Oracle.15. Ensure your request completes successfully.doc Rev 1 . All rights reserved. 18.Create Accounting Setup Effective 05/21/07 Page 8 of 8 55339092.
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