Overview of Setting Up
This section explains how to implement General Ledger for use in your organization. We include tasks to:
- Create and set up a set of books
- Set up General Ledger for your organization
Oracle Applications Implementation Wizard
If you are implementing more than one Oracle Applications product, you may want to use the Oracle Applications Implementation Wizard to coordinate your setup activities. The Implementation Wizard guides you through the setup steps for the applications you have installed, suggesting a logical sequence that satisfies cross-product implementation dependencies and reduces redundant setup steps. The Wizard also identifies steps that can be completed independently--by several teams working in parallel--to help you manage your implementation process most efficiently.
You can use the Implementation Wizard as a resource center to see a graphical overview of setup steps, read online help for a setup activity, and open the appropriate setup window. You can also document your implementation, for further reference and review, by using the Wizard to record comments for each step.
For more information, see: Implementation Wizard Documentation
You must set up underlying Oracle Applications Technology
The setup steps in this chapter tell you how to implement the parts of Oracle Applications specific to Oracle General Ledger.
The Implementation Wizard guides you through the entire Oracle Applications setup, including system administration. However, if you do not use the Wizard, you need to complete several other setup steps, including:
- performing system-wide setup tasks such as configuring concurrent managers and printers
- managing data security, which includes setting up responsibilities to allow access to a specific set of business data and complete a specific set of transactions, and assigning individual users to one or more of these responsibilities
For more information, see: System administration documentation
Also, if your product uses Oracle Workflow to, for example, manage the approval of business documents or to derive Accounting Flexfield values via the Account Generator, you need to set up Oracle Workflow.
For more information, see: Oracle Workflow documentation
Planning and Installation
You need to create and set up one or more sets of books, depending on your accounting and reporting needs. Following is an overview of the steps you need to follow. There are references to other sections of this guide for more detailed instructions.
To create and set up sets of books:
1. Install General Ledger. Use the Oracle Financials AutoInstall program to install General Ledger, as well as standard, predefined data, such as basic responsibilities and menus, financial statement column sets, and journal entry sources and categories.
Suggestion: Use the Oracle Applications Implementation Wizard to coordinate your set up activities, especially if you are installing more than one Oracle Applications product.
2. (Optional) Install and set up Oracle Workflow if you plan on using General Ledger's Journal Approval feature.
3. Complete the General Ledger post-install steps to set up the drilldown from the Account Inquiry to Oracle Receivables and Oracle Payables.
4. After you complete your installation of General Ledger, create application user signons and passwords.
5. Evaluate your organizational structure and your business needs to plan your chart of accounts. By carefully evaluating your business needs, you can design your chart of accounts to take advantage of flexible General Ledger tools for recording and reporting your accounting information.
Note: If your organization consists of multiple companies that must be consolidated, read the consolidation chapter in this guide before you proceed further. See: Performing Multi-Company Accounting in General Ledger.
9. Define the functional currency for your set of books, or enable one of the predefined ISO (International Standards Organization) currencies. You should also define or enable any additional currencies you plan to use. See: Defining Currencies.
10. Define a set of books and assign it a calendar, functional currency and account structure. See: Defining Sets of Books.
11. Have your system administrator assign your set of books to a responsibility.
Additional Information: Control user access to your set of books by having your system administrator assign users to the set of books' responsibility. Users can enter and post journal entries to a set of books only if they have been assigned to the associated responsibility.
13. If you want to enter transactions for multiple currencies, define conversion rate types and (optional) enter your daily rates, period rates, and weighted-average rates. See: Overview of Multi-Currency Accounting.
Setting Up General Ledger
Once you have completed your planning and implementation activities, you need to set up General Ledger for your organization's use. Following is an overview of the steps you need to follow. There are references to other sections of this guide for more detailed set up instructions.
To set up General Ledger for your organization:
2. (Optional) Create suspense accounts for automatically balancing journal entries from particular sources and categories. See: Defining Suspense Accounts.
3. (Optional) Create intercompany accounts to perform automatic intercompany balancing. You specify an intercompany account when you define a set of books. You can set up additional intercompany accounts for journal entries with particular sources and categories. See: Defining Intercompany Accounts.
7. Define and assign document sequences to provide an audit trail for your journal transactions in General Ledger. See: Defining Document Sequences.
8. (Optional) Define encumbrance types to classify and track your expenditures according to your purchasing approval process. See: Defining Encumbrance Types.
11. Set your profile options. Profile options specify how your Oracle General Ledger application controls access to and processes data. In general, profile options can be set at one or more of the following levels: site, application, responsibility, and user. See: Overview of Setting User Profiles.
See Also
Project Tracking in General Ledger
Overview of Flexfield Value Security
Multiple Reporting Currencies Overview
Performing Multi-Company Accounting in Oracle General Ledger
Budgetary Control and Online Funds Checking
Overview of Average Balance Processing