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Creating Value Sets for GL Accounting Flexfield in Fusion Financials

The document provides instructions for configuring the GL Chart of Accounts Flexfield in Oracle Fusion Financials as part of the Fusion Financial Accounting Hub implementation. It outlines the necessary segments for the GL Chart, including Entity, Line of Business, Cost Centre, and Account, and explains how these segments are used in financial transactions. Additionally, it details the process for creating value sets for each GL segment.

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2 views

Creating Value Sets for GL Accounting Flexfield in Fusion Financials

The document provides instructions for configuring the GL Chart of Accounts Flexfield in Oracle Fusion Financials as part of the Fusion Financial Accounting Hub implementation. It outlines the necessary segments for the GL Chart, including Entity, Line of Business, Cost Centre, and Account, and explains how these segments are used in financial transactions. Additionally, it details the process for creating value sets for each GL segment.

Uploaded by

MalleshGolla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Creating Value Sets for GL Accounting Flexfield in Fusion

Financials
Now that you have created a project & tasks for Fusion Financial Accounting Hub as per
this link, next we need to configure Oracle Fusion Accounting Hub. Amongst many other
things, we will require is a GL Chart Of Accounts Flexfield. To learn basics of Value Sets,
you can refer to the Oracle EBS article linked here.
In case of our Fusion FAH implementation, we will be creating a GL Chart of Account with
the following segments

Entity
Tells which company does this transaction belongs to

Line Of Business
Example for line of business is that Apple will have Mobile Phones & Laptops as two
different line of business

Cost Centre
Cost centre examples are IT Department, or Human Resource Department etc

Account
Accounts segment tells the nature of transaction. For example, if an invoice liability has
been created into the system or Cash has been received & reconciled in the system

You will always find that all the subledgers such as Payables, Receivables, Projects,
Inventory etc send the journals to GL. These journals contain either a credit or a debit to a
combination of these GL Accounting Flexfield segments. For example, you can query GL
Balances to know which Line of Business has how much cash sitting with them. Or you can
query which Cost Centre has most amount of expense in a period.

Anyways, coming back to value sets in Fusion Financials, we will be creating one single
value set for each of the above GL segments, using the steps shown below.
Now, let us create the first value set
Capture the length of the value set segment
Now click Manage Values to enter values into Value Set
Click add to add an entry into the value set
Capture a value in the Entity/Company field

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