Khaled Ahmed Mohamed

1- General Information Options

 Accept the default name and description for the selected ledger.

 Review the currency and chart of accounts for the specified ledger,
which are automatically provided.

2- Accounting Calendar Options

Select a period after the first defined period in the ledger calendar to enable
running translation. You can't run translation in the first defined period of a
ledger calendar.

 Review the accounting calendar that defaults from your ledger.

 Enter 3 in the Number of Future Enterable Periods field.
 Any value periods can be specified to permit entering journals, but not
posting them in future periods.
3- Subledger Accounting Options

Accept the default accounting method, which you selected when you
created the primary ledger.

In the Journal Language field, select American English as your journal

language.

4- Period Close Options

 Enter your retained earnings account.
This account is required. General Ledger moves the revenue and expense
account balances to this account at the end of the accounting year.

 Enter your cumulative translation adjustment account:

The Cumulative Translation Adjustment (CTA) account is required for ledgers
running translation.

Period Average Rate Type: Type of rate used for the Period to Date method
of translation, typically with income statement and equity accounts.

Period End Rate Type: Type of rate used for the Year-to-Date method of
translation, typically with asset and liability accounts.

 If you enable the Net Closing Balance Journal ledger option on the
Specify Ledger Options page, the closing journals created by the Create
Income Statement Closing Journal process use the net amount.
The following table shows the entry that's created.

Description Debits Credits

Travel Expense 60,000

Account 6100

Retained 60,000
Earnings
Account 3100

Net Ending Retained Travel Expense Account 6100 = 0

Balance Earnings
Account 3100 =
60,000

Track Revaluation Gain or Loss by Multiple Segments:

If you decide to set up segments for revaluation tracking, here's what you need to
know:

You can track revaluation gains or losses by up to five distinct segments, including
the segments you assigned balancing segment labels to.

Prevent General Ledger Period Closure When Open Subledger Periods Exist:

When you enable this feature, the period close process prevents the corresponding
General Ledger accounting period from being closed if any of the following
exceptions exist:

Period status exception

Accounting periods for the following subledgers aren't closed:

 Oracle Assets
 Oracle Cost Management
 Oracle Payables
 Oracle Project Foundation
 Oracle Receivables
 Oracle Revenue Management
Transaction exception

 Unprocessed and untransferred subledger transactions

 Pending transactions in the General Ledger interface

 Unposted transactions in General Ledger

5- Journal Processing Options

Enable Suspense:
A suspense account is an account that is used to temporarily store money
until a decision is made about where the money will be allocated.

 If suspense account is not enabled in Journal Processing option of the

ledger, then the system will not allow us to post unbalanced journal
entries.

 But if this is enabled then we will be able to post unbalanced entries

as system internally generates the contra entry based for this
unbalance journal based on the default suspense account mentioned
in the Journal Processing options of the ledger.
 Rounding Account:
used to record rounding error amounts created during a cross
currency receipt application for currencies that have a fixed rate
relationship.

Entered Currency Balancing Account:

Account the foreign currency payment after bank statement
reconciliation.

If Entered Currency Balancing Account unenabled:

The subledger journal entry doesn't balance in one or more of the
entered currencies.

Balancing Threshold Percent:

Balancing Threshold Percent in Oracle Fusion provides a mechanism to control the

tolerance for imbalances in subledger journal entries, ensuring that minor
discrepancies don't hinder the financial close process while still maintaining accuracy
in financial reporting.

Entered (GBP) Entered (GBP) Accounted Accounted

Line Account
Debit Credit (USD) Debit (USD) Credit

1 101.10.11300.000.000 10,000.00 15,297.54

2 101.10.11200.000.000 4,500.00 6,883.89

3 101.10.12110.000.000 5,500.00 8,413.64

Total Not applicable 10,000.00 10,000.00 15,297.54 15,297.53

Follow the posting flow:

Entered and accounted amounts balanced or accounted amount differences within

threshold? Yes. The difference between the accounted debits and the accounted
credits, which is .01, is within the specified threshold of 1 percent.

 Enable journal approval: Enable the journal approval functionality.

 Notify when prior period journal is entered: To ensure that you don't

accidentally enter a journal for a prior period, choose to have General Ledger

display a message whenever you try to enter a prior period journal. To use this

feature, have your system administrator set the user profile option Journals:

Enable Prior Period Notification to Yes.

 Allow mixed statistical and monetary journals: Enter both monetary and

statistical amounts on the same line in a journal entry.

 Validate reference date: If the profile option Enter Journals: Validate

Reference Date is set to Yes, the date you enter is validated to ensure the date

falls into an open or future enterable period.

 Limit a Journal to a Single Currency

You can enforce single currency journals for a journal source. The limit applies

to journals entered on the Create Journal page and to journals that are

imported.

 Require Manual Journals Balance by Entered Currency

o when a journal preparer creates a journal on the Create Journal page or

Create Journal spreadsheet, total debits must equal total credits for each

entered currency, otherwise the journal can't be saved.

 This also means that the journal posting process doesn't have to generate

additional lines to balance the journal. The posting process continues to

balance any unbalanced journals coming in through external feeds.

6- Enable Reconciliation
Clearing accounts reconciliation offers automatic and manual methods to
group, match, and reconcile related in and out journal lines that no longer
contribute to an account ending balance.
You must run the process if:

 You decide to reconcile existing clearing account journal lines that are already
posted and that don't include reconciliation reference information.

 You had not enabled clearing accounts reconciliation for the ledger and
natural account segment values, at the time those journals were posted.

7- Separate journals by accounting date during journal import: Create

individual journal entries for each accounting date.

8- Enable intercompany accounting:

Intercompany accounting for transactions performed between separate legal

entities that belong to the same corporate enterprise.

9- Journal Reversal Criteria Set:

To provide default reversal settings to a newly created journal based on the

journal's category, or to also proceed with automatically reversing a posted

journal, create journal reversal criteria set and assign it to a ledger.

Run Auto Reverse After Open Period on the Specify Ledger Options page.

When enabled, the automatic reversal process is submitted with the reversal

period choice of All. Note: If you usually reverse journals on the last day of

every month, don't enable this option.

Synchronize Reversals Between Primary and Secondary Ledgers:

If you enable this option, a journal reversal (manual or automatic) in the

primary ledger triggers the reversal of the corresponding journal in the

associated secondary ledger.

If you didn't enable this option, you would have to actively manage the

reversal of journals in the secondary ledger, whether they were replicated

from its primary ledger or created directly in the secondary ledger.

 10- Sequencing

Accounting and Document Sequencing:

When you record your journals, you can assign unique sequence numbers. Sequence

numbering the journals simplifies the task of tracing the journal entries and is a legal

requirement in some countries, especially those in Europe, Asia, and Latin America.

 Sequencing By Ledger.

 Sequencing By Legal Entity.

 No Sequencing.

 Enforce Document Sequencing: When set to Payables, indicates that

invoices and payments require voucher numbers.

 Enforce Chronological Order on Document Date: Checks the accounting

date on the invoice header when you save an invoice. The date must be the

same as, or later than, the latest accounting date of an existing invoice with

the same legal entity and sequence.