Defining Ledgers for a Business Unit

Ledgers For A Unit - Definition Page

BUSINESS_UNIT_LED1

Identifies the detail ledgers, ledger groups, and calendars used by this business unit and identifies specific characteristics for each ledger.

Open Period Update Page

OPEN_PERIOD_SINGLE

Click the Update Open Periods link to identify open periods and adjustment periods based on the ledger group and transaction type.

See the Ledgers For A Unit - Definition Page.

Include Account Types posted to ADB Ledger Page

BU_LED_ADBACCT_SEC

Click the Filter link to select account types to post to the ADB ledger.

See the Ledgers For A Unit - Definition Page.

Ledgers For A Unit - Journal Edit Options Page

BUSINESS_UNIT_LED2

Define how the system processes journal error processing for the ledger.

Balance Suspense ChartFields Page

BUL_JE_BS_CFS_SEC

If you select Suspend for journal balance error, specify the suspense account for journal balance errors here.

See the Ledgers For A Unit - Journal Edit Options Page.

Edit Suspense ChartFields Page

BUL_JE_ES_CFS_SEC

If you select Suspend for journal edit error, specify the suspense account for journal edit errors here.

See the Ledgers For A Unit - Journal Edit Options Page.

Amount Suspense ChartFields Page

BUL_JE_AS_CFS_SEC

If you select Suspend for journal edit error, specify the suspense account for journal amount errors.

See the Ledgers For A Unit - Journal Edit Options Page.

Ledgers For A Unit - Currency Options Page

BUSINESS_UNIT_LED3

Specifies the currency default options for the specified ledger for this business unit.

Ledgers For A Unit - Journal Post Options Page

BUSINESS_UNIT_LED6

Specifies journal post options for posting and unposting the journals that apply to the specified ledger.

Ledgers For A Unit - Approval Options Page

BUSINESS_UNIT_LED4

Specifies default journal approval options for the specified ledger.

Ledgers For A Unit - Commitment Control Ledger Options Page

BUSINESS_UNIT_LED5

Specifies the default ledger options for the specified Commitment Control ledger.

Ledger Type

Select the ledger type for this business unit. Values are:

Detail Ledger: Select to associate detail ledgers to this business unit.

Summary Ledger: Attach to business units using the Ledger Set for Summary Ledgers - Ledger Set page.

Commitment Control Ledger: Select to set up Commitment Control ledgers.

Ledger Group

If you select Detail Ledger as the ledger type, select a ledger group from a list you defined in the Ledger Group component.

Ledger

If you select Summary Ledger as the ledger type, this field becomes available. Although summary ledgers are listed in this field, you attach summary ledgers to business units using the Ledger Set for Summary Ledgers - Ledger Set page.

Calendar ID

Select the calendar for this ledger from a list of calendars on the Calendar Period page.

Period End Cutoff Definition

Click to open the Period End Cutoff Definition Page where the period end cutoff schedule for associated Business Unit, Ledger, and Fiscal Year is defined. If Period End Cutoff Definition has not been setup then the user can create a new definition.

Update Open Periods

You can elect to Update Open Periods by selecting a ledger group or ledger code for detail ledgers. By Ledger Group is used to identify open periods and adjustment periods based on the ledger group and transaction type. By Ledger Code is used when working with multiple generally accepted accounting principles (GAAP) and prior-period adjustments. If you do not perform this activity, all periods in the ledger are closed and no journal posting is permitted.

If you specify an adjustment period, the Journal Entry page uses it as the default for adjusting journals. You can post year end adjustments to special adjustment periods separate from the last accounting period of the year. Typically, you want your adjustments year to match your fiscal year.

Balanced Ledger

Select to indicate that this ledger is balanced ledger (debits equal credits) and to make available the journal balance error processing options on the Journal Options page.

Allow Ledger Load Updates

Select to have the Flat File Ledger Import and Ledger Load (ChartField Value Mapping) processes to update detail ledgers, and Ledger Publish Enterprise Integration Point to subscribe and update summary ledgers.

Direct Budgets Ledger Updates

Select to update a standard budget ledger (not commitment control related) directly by using online pages and using the general ledger posting process. If deselected, the system will not perform online adjustments to standard budget ledgers.

Enable Separate Debit/Credit

Select to enable the storing of credit and debit balances separately on the ledger. Normally, General Ledger posts net balances for all posted ChartField combinations to the ledger. When you enable this feature, PeopleSoft automatically performs the necessary table modifications to store debits and credits separately without customization.

Separate DR/CR Amount Fields (separate debit and credit amount fields)

Select to indicate upon journal entry whether a journal amount is a debit or credit. You must have previously selected the Enable Separate Debit/Credit option.

Normally, General Ledger determines whether a journal is a debit or a credit based on its sign. If the journal entry amount is positive, the system treats it as a debit; if negative, as a credit.

If you select this option , the system displays separate debit and credit entry fields on the Create/Update Journal Entries - Lines page. A negative entry in either of the amount fields is considered a reversal of that type of amount. For example, a negative 5.00 EUR in the debit amount field causes the ledger debit amount to be reduced by 5.00 EUR.

If you do not select Separate DR/CR Amount Fields but you select Enable Separate Debit/Credit, the Journal Entry - Lines page displays an N/R (normal/reversal) field, in which you indicate whether the amount entered is normal (positive is a debit, negative is a credit) or a reversal (positive is a credit reversal, negative is a debit reversal).

Journal Generator Default (journal generator default ledger group)

Select to indicate that this is the default ledger group for this business unit. When the system generates journals from other PeopleSoft applications, it uses this ledger group when no ledger group is specified on an accounting entry line.

Enable Alternate Account

Select to enable the Acct -> Alt Suspense and Alt -> Acct Suspense fields.

Acct -> Alt Suspense (suspense alternate account for unmapped account)

Select to accommodate a transaction with an account that is not mapped to an alternate account.

Alt -> Acct Suspense (suspense account for unmapped alternate account)

Used if a transaction is entered with an alternate account that is not mapped to an account.

Amortization Template

Select the amortization template to be used while creating an Amortization style voucher in AP.

Journal Source

Select the source from which amortization journals are created. This field is mandatory if you have selected an Amortization template.

Amortization Calendar

Select from the list of summary calendars – Quarterly Calendar or Annual Calendar. The lookup displays only those summary calendars set up on the Summary Calendar page, which are defined for the specific Calendar ID:

• Quarterly Calendar

• Annual Calendar

Amortization Document Type

Select the amortization document type. This field is available only if you have enabled document sequencing within the Installation Options component and on the General Ledger Definition page for the business unit.

Report Average Balances

If selected, enables the Average Daily Balance (ADB) feature for this ledger.

ADB Calendar

If you selected Report Average Balances, select a detail calendar (typically the daily calendar) to use for calculating your average balance.

Maintain Balances by Date Code

Select to maintain separate balances for journal date, settlement date, and ADB date. The date code can be selected on the journal entry for capturing multiple transaction dates for compliance with International Accounting Standards (IAS). The journal edit process balances journals by date code when selected.

View Date Code Map

Click this link to access the Date Code Map page and view the listing of available date codes: Journal Date, Settlement Date, and ADB Date.

Filter Posted Activity

Select to enable specifying of account types (such as asset, liability, expense, and so on) that you want to post to the ADB ledger.

Filter

After you select Filter Posted Activity, click this link to access the Include Account Types Posted to ADB Ledger page, where you select the account types that you want to post to the ADB ledger.

Document Type

If you use PeopleSoft Document Sequencing, specify a document type for every journal that you enter. If you specify a document type in this field, the system sets to this document type all journals for this ledger group entered through a journal entry.

Journal Balance Option

Available only if you selected the Balanced Ledger option on the Ledgers For A Unit - Definition page.

When you define ledgers, specify them as balanced or unbalanced. Journal entries for balanced ledgers (such as an actuals ledger) must be in balance before you can post them. A journal balance error occurs when an unbalanced journal is targeted to a balanced ledger. You can post unbalanced journals only to ledgers that have been set up as unbalanced ledgers (such as a standard budget ledger).

Select from the following values to correct the balance error:

Default to Higher Level Value: Uses the error-processing options that you defined on the General Ledger Business Unit - Definition page.

Recycle: Marks journal entries containing errors as invalid and does not allow them to be posted. After you make the corrections and re-edit the journal, you can post the journal successfully.

Suspend: For journal balance and journal amount errors, posts the amount required to bring each journal into balance (if it is out of balance) to a suspense account. For journal edit errors, it posts the amounts from those lines that reference invalid ChartFields. This value is not available for control total errors.

Journal Edit Errors Option

As you enter journal lines, General Ledger verifies that all ChartField values are valid as of the journal entry date.

Select from the following values to correct the edit error:

• Default to Higher Level Value

• Recycle

• Suspend

Journal Amount Errors Option

As you enter journal lines, General Ledger verifies that the foreign amounts and the monetary amounts are the same sign. A journal amount error occurs if the foreign amount has a different sign than the monetary amount (for example, if the journal has a foreign amount that is 10 and a monetary amount that is –200).

Select from the following values to correct the amount error:

• Accept: Indicates that you want the Journal Edit process to accept the monetary and foreign amounts as correct and continue processing, even though the amounts have different signs.

• Default to Higher Level Value

• Recycle

• Suspend

Control Total Errors

(Optional) As you enter journal lines, General Ledger displays a running total of the number of lines, debits, credits, and units that you entered in the journal. A control total error occurs if the journal line totals do not match the control totals that you entered at the journal header level.

Select from the following values to correct the control total error:

• Default to Higher Level Value

• N/A: Ignores any previously set control totals.

  This value can be used to ignore control total errors when there are journal amount errors.

• Recycle

Position Accounting

Select to enable Position Accounting, which uses the options that you created on the Position Accounting - Position Account page. The Position Accounting feature enables the Journal Edit process to generate position accounting entries, which track profits and losses due to holding assets in multiple currencies.

Journal Date < Open From Date

The Accounting Period Closed error message appears if the journal date is outside of the date range that you set up. The journal date determines the period to which a journal is posted and must be within the range of the current open periods before it can be posted. You can define the beginning and ending dates for each period in the Detail Calendar - Calendar Periods page. Use the Open Period Updates page to define the range of periods that are currently open for each ledger group. The only exception to using the journal date to determine the period to which the journal should be posted is adjusting entries, which fall into special adjustment periods as defined on the detail calendar.

If the journal date is less than the open-from date, select from the following values to correct the error:

• Change to Open From Date

• Default to Higher Level Value

• Recycle

Journal Date > Open To Date

The Accounting Period Closed error message also appears if the journal date is greater than the open to date.

Select from the following values to correct the error:

• Change to Open To Date

• Default to Higher Level Value

• Recycle

Balance Suspense ChartFields

If you select Suspend for Journal Balance Option, click this link to access the Balance Suspense ChartFields page, where you specify the suspense account for journal balance errors for the ledger group. Define the entire ChartField combination.

Edit Suspense ChartFields

If you select Suspend for Journal Edit Errors Option, click this link to access the Edit Suspense ChartFields page, where you specify the suspense account for ChartField journal edit errors for the ledger group. Define the entire ChartField combination.

Amount Suspense ChartFields

If you select Suspend for Journal Amount Errors, click this link to access the Amount Suspense ChartFields page, where you specify the suspense account for journal amount errors for the ledger group. Define the entire ChartField combination.

Process Group

Select the process group that contains the multiple combination edit rules for this ledger group. Define process groups on the Combination Group page. During combination editing, the system references the ledger group indicated on a transaction to see which rules apply. It then applies these rules during the Journal Edit process. Journal lines that fail validation using one of the rules in the group are marked in error.

Transaction Source Option

Select to limit the combination edit process for a transaction source by process group. This effectively reduces processing time as it targets only those transactions of a given transaction source, avoiding unnecessary processing of data. Select one of the following options:

Specific Transaction Source - Select this option to specify the transaction source (or sources) of the transactions to be edited by the combination edit process. This option increases processing efficiency by validating only those transactions with sources that are applicable for the rules defined in the process group.

All Transaction Sources (default value) - Select this option to edit all transactions against the process group during the combination edit process.

Transaction Source

This link appears if you select the Specific Transaction Source option. Click the link to access the Combo Edit Transaction Source Page where you define the transaction source (or sources) of the transactions to process for a given process group. The combination edit program only processes those sources that are defined for the process group.

Rounding Adjustment Option

Select an option that determines how the system handles an out of balance situation due to rounding. This can happen when the amount of each line is individually converted and base currency totals are out of balance. Depending on the option you select the difference for each foreign currency is:

• Adjust Last Journal Line - Applied to the last line for the currency.

• Add Adjusting Journal Line - Entered as a new base currency adjustment line.

• Skip Rounding Adjustment - Not created. The system does not make an adjustment.

For additional information, see the Rounding Adjustment Options section below.

Rounding Adjust ChartFields

Select this link to access the Rounding Adjustment ChartFields page. When there is an unbalanced condition between the debit and credit rows due solely to rounding on conversion form foreign Amount to Base Amount, select a default balancing group, ChartField, and ChartField Value to be used during the editing process.

Translate Ledger Exchange Rate

Select to control the exchange rate default of the translate ledger consistently for all processing. Select Default to a Higher Level Value, Inherit from Primary Ledger, or Retain Exchange rate.

See General Ledger Definition - Currency Options Page.

Do Not Post Future-Dated Jrnls (do not post future dated journals)

Select to not post journals with a journal date past the journal process date. Define the journal process date on the General Ledger Business Unit Definition - Journal Options page.

Automatic Post Reversals

Select to post accrued reversals automatically when you post the original journal entry. If you select Do Not Post Future-Dated Jrnls and the accrued reversals are for a future date, the system does not post them. If you do not select this check box, mark the reversals for posting separately from the original journals.

Enable Incremental Ledger data

Select to enable this ledger group to maintain incremental changes during the Journal Post process.

Post Adjustment Periods to ADB

This option defines whether to post adjustment journal entries to the ADB (average daily balance) ledgers using an adjustment period (as defined for the ledger group) or using a regular accounting period that is derived from the ADB calendar. Options are as follows

• Select this check box (default option) to post adjustment balances to the ADB ledgers with the same adjustment periods that are used in the detail ledger posting as defined on the Update Open Periods page (for example, 901, 902, and so on). There is an option on the ADB definition to include the adjustment periods in the calculated ADB balances as of the last or first day of the balance period.

  See Journal Adjustments (998, 901, 902...) in ADB.

• Deselect this check box to post adjustment balances to the ADB ledgers using a regular accounting period as derived from the ADB calendar (for example, 01, 02, and so on). This is typically a daily accounting period.

Unpost Journals' Document Type

Select Same as the Original Journal to keep the same document type. (Select a manual document type from the For Manual Doc Type Journals field.)

Select Specify a New Document Type to assign a new document sequencing number. (Select a new document type from the Unpost Journals' Document Type field.)

For Manual Doc Type Journals (for manual document type journals)

If you selected Same as the Original in the Unpost Journals' Document Type field, this field appears. Select a document type to use if you manually assigned the original journal's document type. This new document type must be set up for automatic numbering. If the system automatically assigned the original document type, the same document type that was in your original journal is used here.

Unpost Document Type

If you selected Specify a New Document Type in the Unpost Journals' Document Type field, this field appears. Select a new document type that is set up for automatic numbering.

Enable Posting by Date Code

Select to enable dual posting of the journal by journal date and by settlement date for the ledger group.

When journal date and settlement date are the same, the journal post process posts the transaction to the ledger and the ADB ledger using the journal date. When the journal date and settlement date are different, the journal post process posts two rows in the ledger, differentiated by the Date Code field. The Date Code indicates whether the posting date is derived from the settlement date or the journal date.

View Date Code Map

Click this link to access the Date Code Map page.

Journal - Approval Option and Budget Journal - Approval Option (standard budget journals)

Select one of the following values:

• Default to Higher Level: Uses the approval options that you define on the General Ledger Definition - Approval Options Page.

• Pre-Approved: Allows journal entry without approval through PeopleSoft Workflow. This allows you to select Post in the Process field on the Journal Entry - Lines page.

• Require Approval: Requires approval through PeopleSoft Workflow.

Journal Unpost Approval

Select check box for approving journal unposting. If Journal approval option is set to Default to Higher Level or Pre-Approved for posting, then same is applicable for unposting. Also, if approval is not required for posting then same is applicable for unposting. If approval is required for posting then approval can be enabled for unposting by selecting this check box.

Business Process Name

Select a workflow business process with which you approve journal entries. This field appears only when you select the Virtual Approver method from the Installation Options - General Ledger page.

Approval Rule Set

Select a workflow approval rule set of the previously specified business process with which you approve journal entries. This field appears only when you select the Virtual Approver method from the Installation Options - General Ledger page.