ledger sets

8/13/2019 Ledger Sets

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Oracle ApplicationsRelease 12

Ivruksha - Administrator

General Ledger - Ledger Sets


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Agenda

Introduction Features / Purpose

Advantages

Limitations

Prerequisites of Setup

Information required for setup

Setup - Ledger Set

Q & A


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INTRODUCTION


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In release 12, the concept of Set of books has been

enhanced and termed as Ledgers. Ledgers are of

different types, I.e. Primary and Secondary ledgers.

To make working with ledgers more easier, the new

feature called LEDGER SET has been introduced. As

the name suggests it is nothing but a Set or Group ofledgers. It helps the user in saving time on repetitive

tasks performed on ledgers.

We will learn more about LEDGER SET in further slides.


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FEATURES / PURPOSE


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A Ledger Set can contain any number of ledgers, there is no

specific ceiling proposed so far.

A Ledger Set can include another ledger set within. A Ledger Set can only have those ledgers which are sharing

the same:

Chart of Accounts

Calendar/Period Type

A Ledger Set can have Primary, Secondary and Reporting

currencies attached to it, but they need to have the same Chart

of Accounts and Calendar/Period Type combination.

A single ledger can be made use of in Multiple Ledger Sets.


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ADVANTAGES


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One can run concurrent programs or processes for multiple

ledgers easily.

Opening and Closing periodsGenerating recurring journals, etc

One can generate reports for multiple ledgers in no time.

Reports relating to consolidation

Financial Statement Generator Reports, etc

In case of a ledger set, which contains more than one

ledger/ledger set in it, user can optionally set a default ledgerfor effective usage.

Ledger set can be secured by having a Definition Access Set.


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You cannot add ledgers that do not share the same chart of

accounts and Calendar/Period Type to a Ledger Set.

You cannot have a reporting currency which is of type

Balance Level in the Ledger set, even if it shares the same

Chart of Accounts and Calendar/Period Type.


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PREREQUISITES OF SETUP


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Chart of Accounts

One need to define a chart of accounts structure in place.

Period Type

Period types needs to be defined, which in turn will be used by

Accounting Calendar

Calendar

One has to define an Accounting Calendar

Existing Ledgers or Ledger Sets

One must have few pre defined ledgers or ledger sets in place.


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INFORMATION REQUIRED

FOR SETUP


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1

3

4

5

7

6

8

2

SETUP FORM - LEDGER SET


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From the previous screen shot of the setup screen

we can make out that following details arerequired in order to Define a ledger set.

1) Ledger Set

2) Short Name

3) Description

4) Chart of Accounts

5) Calendar

6) Period Type

7) Default Ledger

8) Ledger/Ledger Set


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Ledger Set Name

It is a free text field, please provide a name for your Ledger Set

Short Name

You can have a abbreviated form of your Ledger Set name as yourShort name.

Description

Give a proper description, detailing the purpose of the Ledger Set.

Chart of Accounts

Select your chart of accounts from the list of values

Calendar

Select your calendar from the list of values

Period Type

Upon selecting the calendar, the period type will be populated

automatically.


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Default Ledger

In case if you are planning to attach more than one Ledger or

Ledger Set to your current Ledger Set, you can optionally select

one of the ledger as a Default ledger.

Ledger/Ledger Set

From the list of values, select the ledgers and/or ledger sets as peryour preference.


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SETUP - LEDGER SET


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Switch responsibility to General Ledger


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Navigate to Setup > Financials > Ledger Sets


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Enter the name for your Ledger Set


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Enter a Short name for your Ledger Set


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Enter Description for your Ledger Set


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Select an appropriate Chart of Accounts


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Select a Calendar, which will default the Period Type


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Select a Default Ledger (Optional Step)


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Select ledgers as per your requirement.


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Save

Your

Work


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After saving, a concurrent program is automatically

run by the system, you will get the following note.


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Check the Status of the program, if it is completed normal,

then there are no issues with the Ledger Set we have defined.


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Q & A


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Can a Ledger Set be created without any ledgers in it

No you cannot create a ledger set without ledgers, you must have at least one

ledger or ledger set assigned.

Can a Ledger Set be deleted after defining

No one cannot delete a ledger set which has been created

Can one modify the Ledger Set which is already defined.

Yes, you can add or remove Ledgers / Ledger Sets After setting up the Ledger Set, is there any additional

setup required before using the same

You must assign the Ledger Set to the profile option GL: Data Access Set.

Oracle General Ledger automatically creates a Data Access Set, whenever aLedger or Ledger Set is created.


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!! Thank You for your time !!


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Comments/ Suggestions / Criticisms /

appreciations if any can be communicated to

the email address below:

[email protected]

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