Minimum Steps For Financial Enterprise Structures and General Ledger Setup (Doc ID 1428444.1)

Last updated on MARCH 16, 2015

Applies to:

Oracle Fusion General Ledger - Version 11.1.1.5.1 and later
Information in this document applies to any platform.

Goal

How to set up Financial Enterprise Structures and General Ledger with the minimum steps, which steps are really required and mandatory ?

Some of the non-financial modules (Example: HCM, CRM) have pre-requisite that the Legal Entity needs to be assigned to a Primary Ledger.

To create Primary Ledger in Financials, following are the minimum steps to successfully create ledger in Financials:

Step 1 - Chart of Accounts

        A- Create Value Sets for COA
        B- Create Chart of Accounts Structures
        C- Create Chart of Accounts Instances
        D- Create Value Set Values (This is needed to setup mandatory retained earning account in ledger options later)

Step 2 - Create Accounting Calendars

Step 3 - Create/setup Currencies

Step 4 - Create Legal Entity

Step 5 - Create Primary Ledger

Step 6 - Assign Legal entity to Primary Ledger

Step 7 - Final step is locate the Review and Submit Accounting Configuration task in the primary ledger task list, then click the Go to Task icon.

Once on the review page, click the Submit button to process and finalize your accounting configuration.

Solution

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