1. Getting Started with Your Financials Implementation
  2. Implement General Ledger

Implement General Ledger

The Define Ledger Configuration for Rapid Implementation and Define Financial Reporting Center Configuration for Rapid Implementation task lists provide a framework for developing and managing general ledger features including ledger sets, journal approval rules, and the Financial Reporting Center.

Setting Up General Ledger

The tasks in the following list relate to the setup of General Ledger. These tasks are the basic setup steps. They may be interspersed with other tasks that aren't required to implement Oracle Financials Cloud. In the Setup and Maintenance work area, create an implementation project that includes the Define Financials Configuration for Rapid Implementation task list. That task list includes both the Define Ledger Configuration for Rapid Implementation and Define Financial Reporting Center Configuration for Rapid Implementation task lists.

For setting up general ledger, each task is performed by the Application Implementation Consultant.

Define Ledger Configuration for Rapid Implementation

All documentation references are from the Oracle Financials Cloud Implementing Enterprise Structures and General Ledger guide, unless otherwise noted.

This image shows the general categories of ledger configuration: intercompany balancing, journal processing, period close processing, ledger sets, data access sets, and intercompany balancing.

This figure shows the general categories of ledger configurations.

  1. Manage ledger sets.

    • Perform the task Manage Ledger Sets to create, review, and update collections of ledgers intended for batch processing or financial reports.

    • See: Ledgers chapter

      • Ledgers and Subledgers

      • Primary Ledgers, Secondary Ledgers, and Reporting Currencies

      • Ledgers, Legal Entities, Balancing Segments, and Business Units

  2. Manage data access sets.

    • Perform the task Manage Data Access Sets to create, review, and update collections of ledgers intended for data security.

    • See: Financial Structures chapter

      • Overview of General Ledger Security

      • Overview of Data Access Set Security

      • Examples of Data Access Set Security

  3. Create segment value security rules.

    • Perform the task Create Segment Value Security Rules in Spreadsheet to define segment value security for value sets.

    • See: Financial Structures chapter

      • Overview of General Ledger Security

      • Segment Value Security

      • Example of Segment Value Security

  4. Manage intercompany balancing rules.

    • Perform the task Manage Intercompany Balancing Rules to define rules to assign intercompany receivables and intercompany payables accounts for transactions unbalanced by legal entity or management entity.

    • See: Intercompany Setup chapter

      • Intercompany Balancing Rules

      • Intercompany System Options

      • Example of Intercompany Organization Configuration

      • Customer and Supplier Assignment

  5. Manage journal approval rules.

    • Perform the task Manage Journal Approval Rules to review and update rules to route journal entries through an approval process.

    • See: General Ledger Options chapter

      • Considerations for Defining Journal Approving Rules

      • Create Journal Approval Rules

  6. Manage settings for automatic journal posting.

    • Perform the task Manage AutoPost Criteria Sets to define, review and update settings for automatic journal posting.

    • See: General Ledger Options chapter

      • Create an AutoPost Criteria Set

      • Examples of Manually Running the AutoPost Process

  7. Manage settings for automatic journal reversal.

    • Perform the task Manage Journal Reversal Criteria Sets to define, review, and update settings for automatic journal reversal.

    • See: General Ledger Options chapter, Journal Reversals

  8. Manage accounting and reporting sequences.

    • Perform the task Manage Accounting and Reporting Sequences to define, review, and update sequencing definitions for journal posting and period close.

    • See: General Ledger Options chapter

      • Overview of Accounting and Reporting Sequences

      • How to Define Journal Sequences Manually: Explained

      • What happens when I enable sequencing in the rapid implementation spreadsheet?

  9. Manage allocations and periodic entries.

    • Perform the task Manage Allocations and Periodic Entries to create, review, and update allocation and periodic definitions and journal entries. Generate journal entries from the allocation and periodic definitions.

    • See: Allocations and Periodic Entries chapter

      • Overview of Allocations and Periodic Entries

      • Overview of Calculation Manager

      • Overview of Oracle Essbase Balances Cubes

      • Create an Allocation Rule and Generate Allocations

      • Overview of Recurring Journals

  10. Manage revaluation definitions.

    • Perform the task Manage Revaluations to review and update existing calculations of unrealized gains and losses on foreign currency transactions, and to define new calculations.

    • See: Period Close chapter

      • Revaluation Process

      • Overview of Revaluation Unrealized Gains or Losses

      • How Income Statement Accounts Are Revalued

      • Overview of Revaluation Tracking By Multiple Segments

  11. Manage historical rates.

    • Perform the task Manage Historical Rates to review and update existing currency historical conversion information, and to create conversion information.

    • See: Financial Structures chapter

      • Enter Daily Rates Using the Daily Rates Spreadsheet

      • Update Currency Rates

  12. Open the first period.

    • Perform the task Open First Period to open the first accounting period so you can begin recording transactions.

    • See: Ledgers chapter: Overview of Opening First Period

    • See: Period Close chapter: Overview of Close Monitor

Define Financial Reporting Center Configuration for Rapid Implementation

All documentation references are from the Oracle Financials Cloud Implementing Enterprise Structures and General Ledger guide, Financial Reporting chapter, unless otherwise noted.

  1. Define Financial Reporting Center configuration:

    • Perform the tasks in the Define Financial Reporting Center Configuration task list to define and manage technical configuration options for the Financial Reporting Center.

    • See:

      • Overview of Financial Reporting Center

      • Set Up Financial Reporting Center and Smart View

  2. Define Essbase database connections.

    • Perform the task Define Essbase Database Connections in Workspace to define database connections to connect to Essbase in Workspace.

    • See: Set Up Financial Reporting Center and Smart View

  3. Configure the Smart View client.

    • Perform the task Configure Smart View Client for Users to install the Smart View client on users' computers to perform balance inquiry.

    • See: Set Up Financial Reporting Center and Smart view

  4. Create financial statements.

    • Perform the task Create Financial Statements to create, review, and update report definitions for management and statutory financial statements.

    • See: Create a Financial Report

  5. Define budget scenarios.

    • Perform the task Define Budget Scenarios to define scenarios to track budgets for different periods or forecasts.

    • See: Budgets chapter

      • Overview of Budget Uploads

      • How General Ledger Budget Balance Import Data Is Processed

      • Import Budget Data from a Flat File

      • Import Budget Data from a Spreadsheet