Create a Primary Ledger

Create a primary ledger as your main record-keeping ledger. A primary ledger records transactional balances by using a chart of accounts with a calendar, currency, and accounting rules implemented in an accounting method.

The primary ledger is closely associated with the subledger transactions and provides context and accounting for them.

Scenario

You have been assigned the task of creating a primary ledger for your company Vision Corporation.

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

   • Offering: Financials

   • Functional Area: General Ledger

   • Task: Manage Primary Ledger

2. Click the Create icon.

3. Complete the fields, as shown in this table.

   Field	Value
   Name	Vision Corporation
   Description	Vision Corporation primary ledger for recording transactions.
   Chart of Accounts	Vision Corporation Chart of Accounts
   Accounting Calendar	Standard Monthly
   Currency	USD
   Accounting Method	Standard Accrual

4. Click Save and Close.

   Note:

   You can't change the chart of accounts, accounting calendar, or currency for your ledger after you save the ledger.