Create a Value Set for Your Chart of Accounts

Create your value sets before creating your chart of accounts. A value set can be shared by different charts of accounts or across different segments of the same chart of accounts.

Scenario

You are creating a company value set to be used in your chart of accounts for your enterprise, Vision Corporation. Follow these steps:

1. In the Setup and Maintenance work area, go to the following:

   • Offering: Financials

   • Functional Area: Financial Reporting Structures

   • Task: Manage Chart of Accounts Value Sets

2. Click the Create icon in the Search Results section.

3. On the Create Value Set page, enter a unique value set code, Vision Corporation, and an optional description, Company values for Vision Corporation

4. Select General Ledger from the list in the Module field.

5. Select Independent as the validation type.

   Note: You must use Independent validation only for Accounting Key Flexfield value sets. Other validations prevent you from using the full chart of accounts functionality, such as data security, reporting, and account hierarchy integration. Dependent values sets aren't supported.

6. Select Character for the validation data type.

7. Click Save and Close.