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3) Navg: SecurityResponsibilityDefine – define our own responsibility as such all modifications will not affect
current user.
4) Navg: SecurityUsersDefine
5) Then Login as User: HUTCH/welcome
6) Select Responsibility SA_HUTCH_GL
a) CALENDER
b) CURRENCY
c) CHAT OF ACCOUNTS
a) Accounting Calendar: Used to determine PERIODS. In this we secure and maintain Journal Entries and Balances.
b) Transaction Calendar: Used to determine List of Holidays. Here the transactions are not allowed. Used to
calculate Average Balances, generally used in banking sector.
1) Accounting Calendar:
a) Define Period Type: Used to determine the number of periods required for an current financial year.
A year type is fiscal, the period name end with last two digits of the year.
If the year type is Calendar, Period name end with last two digits of the from date.
Note: Here the overlapping of periods would be adjusted by initially create the dates from
01-APR-2010 TO 03-MAY-2010
04-MAY-2010 TO 31-MAY-2010
01-APR-2010 TO 30-APR-2010
01-MAY-2010 TO 31-MAY-2010
Target Period: From R12, it will open all periods which specified from OPEN to NEVER OPENED
Eg: Cal is from Apr-10 to Mar-11
If my target period is JUL-10, means periods starting from Apr-10 to JUL-10 are OPENED.
10) Flexfields:
Assign Value Set to the segment, which determines the behavior of the segment.
Defining Structure:
Resp: SA_HUTCH_GL
NAVG: SETUPFINANCIALSFLEXFIELDKEYSEGMENT
Resp: SA_HUTCH_GL
NAVG: SETUPFINANCIALSFLEXFIELDKEYVALUES
Enter Values for the segments which were defined prior, assign SEGMENT QUALIFIERS to the value.
Place the cursor at COMPANY and press Down arrow, as such another segment would appear in order to enter value.
Do specify Retained Earnings to the Account Segment
Save the work and close.
Resp: SA_HUTCH_GL
NAVG:
8) Click on ADD LEGAL ENTITY tab, as such the LE what we defined need to be attached to the LEDGER.
9) Assign the LE and click on select
15) Review the LEDGER and click on Finish as such the status show COMPLETED
STATUS = COMPLETED
Say Yes
NAVG: systemprofile
1) NEVER OPENED x x x
2) OPENED Y Y Y
3) FUTURE Y x x
4) CLOSED x x Y
5) PERMANTLY CLOSED x x x
Types of Journals:
Manual Journal:
Navg: JournalEnterNew Journal
1) For CRV the segments would appear but won’t allow to access.
Can restrict Ledgers, Balancing Segment Value, and Management Segment Value by giving privileges as READ/
READ & WRITE.
Management Segment Value can be assigned for Cost-center Dept except Company and Accounts.
If you want to restrict, just check view check box, as such further the calendar field is said to be protected against
entry.
Used while running reports can be restrict the definition by restricting formula.
Eg : Rent
Are of 3 types:
Standard:
• Amount
Press down arrow and enter line 2
Click on Generate and next submit button
Skeleton:
• Account (A/C)
Formula:
• Account (A/C)
Inter-Company Transactions
Any transaction between balancing segment values, those transactions are called as Inter-company transactions.
1) Responsibility : GL
Enable the Intercompany Segment Flex field Qualifier for the Company Segment
Enter the I/C Accounts receivable and I/C Accounts Payables as another two values with segment qualifiers as
Assets and Liabilities respectively.
In order to enable the intra company balancing segment follow the below steps
Click on Intercompany Accounts and update as below mentioned.
Click on Define Relationships for Each Legal entity and follow below steps
Click on define accounts tab and include Intercompany Receivables and Payables Accounts.
Enter Journal with different Balancing Segments and post and see the effect of Inter Company account Transactions
Intra-Company Transactions
Any transaction within the same legal entity related balancing segment values, those transactions are called as
Intra-company transactions.
Journal->Enter->Find
Currencies
1) Foreign Currency: Used in converting foreign to functional currency i.e... Specified Currency to Requested
Currency
2) Revaluation : Process to know profit / loss due to the fluctuation in currency (Used for FA – To revaluate Assets
and GL – To know current assets and current liabilities)
• Balance Level
• Journal Level
Types of Ledgers:
• Primary Ledger
Pre-requisite is Rate
Resp: GL
Navg: Setup:Currency:Rate:Daily
2) Enter new journal with Currency : USD, Type : Corporate, and Rate : 50
Translational Currency:
Translation is a process used to convert functional currency to other reporting currencies at the account balances
level.
When we run translation then the system generates the reporting currency ledger with level as Balance.
Ass
A
Assign the Ledger Set the one we defined against the Responsibilty.
Switch the GL Responsibility
Open the Reporting Currency Ledger periods
Enter Journal in Primary Ledger with INR as Functional Currency.
Check for Journal SA_Htch_USD_journal: SA_Htch_Reporting_Curr_Led_JE
Secondary Ledger:
Secondary Ledgers are mainly used for creating Multiple Accounting Representations
When ever any of the components are going to be changed like Currency, Calendar, Chart Of Accounts, SLA
we make use of secondary ledger.
This functionality can be useful when the statutory requirement is to maintain books of accounts in certain
accounting method and company policy is to maintain books of accounts in different accounting method
For secondary ledger we need to create a new responsibility. Linking between Ledgers and Responsibility happens
via profile options in this case it if GL: Ledger Name: we should set secondary ledger in that profile option.
There are 4 types of Data Conversion levels involved in secondary ledger creations
o Journal Level
o Balance Level
o Sub-Ledger Level
o Adjustments
o Segment Rule
o Accounting Rule
Segment Rule is used when primary ledger chart of accounts and secondary ledger chart of accounts are same.
Accounting Rule is used when primary ledger chart of accounts and secondary ledger chart of accounts are
different.
After mapping we need to do CONSOLIDATION to merge the balances to primary ledger to secondary ledgers.
The source from which we retrieve or get the data is called as a Subsidiary Ledger (Primary Ledger).
In which we merge the data is called as Parent Ledger (Secondary Ledger).
Go to Ledger options of the Secondary Ledger and click on update and complete the 1-4 options
Step: 1
Step: 2
Step: 3
Step: 4
2) Now the status of the Ledger Options is said to be complete. The next step is mapping Primary Ledger to
Secondary ledger.
3) Chart of accounts mapping
Assign the mapping name to the Secondary Ledger mapping and say complete
4) Switch to system administrator and create a new responsibility for secondary ledger
5) Add the above responsibility to the existing user (HUTCH)
6) Assign the Profile GL: Ledger Name as Secondary Ledger.
7) Login with responsibility SA_Secondary_GL_Resp and open periods for the secondary ledger.
Consolidation:
Consolidation is a period-end process of combining the financial results of separate business subsidiaries with the
parent company to form a single combined statement of financial results.
It is process used to revalue assets and liabilities denominated in foreign currency into functional currency based on
period end exchange rate we specify. Unrealized gains/losses are resulted because of exchange rate fluctuations which
are recorded in unrealized gain/loss account in GL.
o In GL by running the revaluation, we calculate the current Assets and Current Liabilities
Resp: GL
Navg: Setup:Currencies:Rates:Daily
Effective Daily Rate
Create the below mentioned values in the Accounts Segment of the COA
Enter Journal with the below specifications and say save
Budgets:
o Planning Budget: The plan for the future expenses is planning budget. It is a paper work. There is no funds
requirement. It does not require journals. There are no restrictions for estimating of funds. It is a budget
through which you cannot exercise budgetary control. But you can compare your actual with budgets through
inquiry window.
o Funding Budget: It is a budget against which accounting transactions are checked for available funds when
budgetary control is enabled for your set of books. Funding Budgets are approved budgets.
Then create journals and click on check funds and reserve funds
Then check for the budgets with Balance type as Budget from the below navigation
Then create a new journal with the same combination and try to validate check funds and reserve funds and then post it.
If the amount exceeding the specified limit then the transaction would fail to reserve the funds.