Configure an Account Group

Configuration of an account group enables you to create self-monitoring accounts that help you eliminate the surprise of account anomalies during your close process.

Scenario

You have been given the task to set up account groups. Follow these steps to define account groups that track key account balances by purpose, category, and comparison criteria.

1. Navigate to the General Accounting Dashboard page.

2. In the Account Monitor section, select View > Account Group > Create. Other Account Group options include:

   • Manage to create, edit, or delete account groups. You can also enable sharing of account groups with other users.

   • Edit to change an existing account group or to make a copy of an existing account group to which you have access, whether it's an account group that you own, that's shared with you, or that's public. You're marked as the owner of the copied account group, which is automatically set to private access, but can be changed to the access setting that you like.

3. Enter the account group name and description. The name is used by default on the infolet that the account group displays in, but can be changed using the infolet Actions menu.

4. Select a value for the Display In option to determine if the account group appears in one of the infolets (Allocations, Expenses, Revenues), the Account Monitor, or the Close Monitor. The display option that you select can affect the other account group settings. For example, account groups that display in the Close Monitor must have public access, and account groups that display in infolets must have the option to dynamically derive the ledger enabled.

   Note: Regardless of its display setting, any account group can be viewed from within the Account Monitor and Financial Reporting Center.

5. For each infolet and Account Monitor display setting, you can specify a default account group by selecting the Set as default option. The default account group setting is user-specific, determining which account groups appear to you when you view the infolets and the Account Monitor.

   Note: The default setting doesn't affect account groups that are set to display in the Close Monitor. The account group that displays in the Close Monitor is determined by the ledger set definition.

6. Select the Dynamically derive ledger option to apply the account group to any ledger in the same balances cube. The ledger derived is based on your given data access set selection. You must enable this option for account groups that display in the Revenues, Expenses, and Allocations infolets.

   Note: If you don't select this option, enter a ledger on each account row.

7. Select a Time Option and Comparison Option as shown in the following table.

   Time Option	Comparison Option
   Accounting Period	Budget PTD Budget QTD Budget YTD Prior period PTD Prior year PTD Prior year QTD Prior year YTD
   Quarter	Budget QTD Budget YTD Prior quarter QTD Prior year QTD Prior year YTD
   Year	Budget YTD Prior year YTD

   Tip: If you're using a budget comparison option, select the budget name in the Scenario field.

8. Set the access.

   Note: Regardless of the access setting, only the person who owns the account group can modify it. However, for account groups that you have access to, you can share with others even if you're not the owner.

   • Private: For your use only.

   • Public: For use by all users who have access to the same balance cube of that account group. Account groups that display in the Close Monitor must be set to Public.

   • Shared: For use by users you specify and who have access to the same balance cube of that account group.

     Note: To set shared access, navigate to the Manage Account Group page.

9. In the Accounts section, enter the accounts to monitor. The accounts must be defined to be consistent with the particular infolets targeted to track revenues, expenses, or allocations pools.

   • Accounts included in an account group for display in the Expenses infolet must be of the account type Expense.

   • Accounts included in an account group for display in the Revenues infolet must be of the account type Revenue.

   • Close Monitor account groups must only have two account rows. The first row must represent total revenues and the second row must represent total expenses.

   1. Give each account a short name that's easily recognizable. The name displays in infolets and in the Name column of the Account Monitor. For account groups that display in infolets, you must provide a name for each account.

   2. If the Dynamically Derive Ledger option isn't enabled, you must enter a ledger.

   3. Enter either parent or child values for each segment of the account.

   4. Select when to display the account in the Change field.

      • Always Display

      • Decrease by Less than Amount

      • Decrease by Less than Percentage

      • Decrease by More than Amount

      • Increase by More than Amount

      • Increase by Less than Amount

      • Increase by Less than Percentage

      • Increase by More than Percentage

      • Decrease by More than Percentage

      • Not Equal

      • Equal

   5. Enter a value in the Threshold field, which is the criteria that's being measured against. The threshold is used in conjunction with the Change field selection.

10. Click Save and Close or Save and Create Another.