Farah Hazem – Mahmoud Fawzy
- General ledger accounting cycle.
-Prerequisites for GL configuration ( for both
mandatory and optional configuration in GL)
-Mandatory configuration setup steps for GL.
-Optional configuration ( Intercompany
configuration , create source , create , category criteria
set , alias , auto post criteria set).
-Foreign currency
) conversion rate , revaluation , translation).
-Transactions
-Budget
-About how to understand business activities ,
operations and structure entity of a company to
translate them in to financial data to create
financial statements. by creating charts of
accounts fitting with the entity, collect and
consolidate data from many sources to translate
it to accounting transactions with foreign
currencies.
General Ledger Accounting Cycle
Create ,
Import and Post
Open Period Journals
Reverse
Journals
Run Review
Perform Revaluation Balances and
Consolidation
and Perform
Translation Reconciliation
Review
balances and
Run Ccc
Close
Financial
Perform Period
Reconciliation Reports
-Take the roles ( general accountant , general -
accounting manager)
-access the two roles on the level of GL -
-setup and maintenance , financials
-General Ledger
-Specify ledger options.
-assign legal entities.
-assign balancing segment values to legal entity.
-open first period.
1-Conversion Rate
- setup and maintenance , financials
- manage daily rates
-from Rate types tap: +create rate type
–from Daily rates tap: Create in spreadsheet
-Fill the spreadsheet then submit.
2-Revaluation
in case if there are any changes in the exchange
rates during the month so we need to revaluate all
the journals based on the new rates.
-setup and maintenance , financials
-general ledger
-manage revaluations
-create revaluation
-In the same page of revaluation creation and
after save the information click on Generate
-Fill the data then Sumbit
3-Translation
if we need to translate all the balances from our
currency to another foreign currency, so we have
to create first a Reporting currency which will
carry all the translated balances.
-setup and maintenance , financials
-General Ledger
-Specify ledger options
-Make sure that
1-the Cumulative Translation Adjustment Account
exists (10-000-31040-10)
2-Default Period End Rate Type : Farah_Rate_Type
3-Default Period Average Rate Type :Farah_Rate_type
How to create a reporting currency?
-setup and maintenance , financials
-General Ledger
-Manage reporting currencies
-Create reporting currency
-Open the first period and open all the periods
after the first one till the current period
-We have to access the two roles again ( general
accountant , general accounting manager) on the
level of the reporting currency
-Home Page , General Accounting, Period Close
-select from the task panel: Translate Balances
-Fill the data and Submit
To see the new translated balances , we should
follow these steps:
-Home page, General Accounting , Period Close.
-Select from the task panel : Inquire on Detail Balances
We need the intercompany rule when there are
transactions between two intercompanies , basically
we have a general rule that is already the system but
we will make our specific rule with specified code
combinations.
Prerequisites
-setup and maintenance , financials
-General Ledger
-Specify ledger options
-Enable □ Enable intercompany accounting
-Setup and maintenance , financials,
Intercompany
-manage intercompany balancing rules
- +create rule
-Setup and maintenance , financials,
Intercompany
-manage additional intercompany balancing and
clearing option
- +create rule
-Setup and maintenance , Financials
-Financial Reporting Structure
-Manage Chart Of Account Structure Instance
-Search about GL from Module
- Manage Structure Instance
-Search about “Farah” from Structure Name
-Select Farah then click on Edit
-Enable Shorthand Alias Enabled
- Deploy Flexfield
-Setup and maintenance , Financials
-Financial Reporting Structure
-Manage Shorthand Aliases
-Search about “Farah” from Chart Of Accounts
- +Create Alias
-Setup and maintenance , financials , GL
-Manage journal sources
-Create source
-Setup and maintenance , financials , GL
-Manage journal categories
-Create category
There are two ways for the reversal :
1-Change sign :the advantage of this method that there is no
extra journal , the application will only change the sign in Dr
and Cr so we can avoid the affect of this journal.
2- switch Dr and Cr : by adding extra journal and switch in it
the Dr and Cr of the original journal.
Prerequisites
-setup and maintenance , financials
-General Ledger
-Specify ledger options
-Setup and maintenance , financials , GL
-Manage Journal Reversal Criteria Set
-Create
-Home ,General Accounting, Journals
-from the task panel , select Run Auto Reverse
In case that there are a lot of journals from
different categories and sources , so we need to
post all of them immediately depending on our
priorities .
First we will create auto post criteria set
-Setup and maintenance , financials , GL
-Manage auto post criteria set
-Home ,General Accounting, Journals.
-from the task panel , select Run Auto Post
-The batch may include only one journal or more
than one
-Create Employee for budget manager.
-Apply budget control on Business unite and GL.
-Create budget control.
-Add role and access data set on Farah_Budget.
-Open budget periods.
