General ledger setups in sequence in oracle cloud
Oracle cloud general ledger setups in sequence
In this post we will see the oracle cloud general ledger setups task in sequence. All the necessary setups in order to run the general ledger module in oracle cloud. With the help of these sequential setups we can easily run the general ledger module of oracle cloud.
Below are the oracle cloud general ledger setups in sequence to be done to make the GL module functional
Note : Apart from these there are many other setups which can be done in GL module as per the client specific requirements, but I have just tried to highlight the basic setups to be done in order to make general ledger module functional.
General ledger setups in sequence in oracle cloud
Sequence Number Setups to be done
1 Create Accounting Calendar
2 Create Currencies ( If required )
3 Create Accounting method (if required )
4 Create Value sets
5 Create Chart of Accounts (COA)
6 Create Chart of accounts structure
7 Create COA segments and assign sequence and value sets to segments
8 Create COA structure instance and Deploy Accounting Flexfield
9 Create value set values
10 Create Legal Address
11 Create Legal Entity
12 Create Primary Ledger
13 Specify Ledger Options for primary ledgers
14 Assign Legal Entity to Primary Ledger
15 Assign Balancing Segment Values to Legal Entity
16 Review and submit Accounting Configuration
17 Assign GL Roles to User
18 Assign Data Access Set to GL roles
19 Open General ledger Periods
20 Create Journal and Post
Additional setups which can also be done in GL as per requirements
21 Cross Validation Rules for security
22 Security Rules for restrictions
23 Create Ledger Set for security and reporting purposes
24 Creation of Reporting Ledger for reporting currency requirements
25 Creation of Secondary Ledger for statutory requirements
26 Auto Posting for subledger journals autoposting
27 Auto Reversal ( if required )
28 Create Budget ( for control )
29 Journal Approval (for control )
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