Oracle Applications Release 12Ivruksha - AdministratorGeneral Ledger - Ledger Sets

AgendaIntroductionFeatures / PurposeAdvantagesLimitationsPrerequisites of SetupInformation required for setupSetup - Ledger SetQ & A

INTRODUCTION

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 of ledgers. It helps the user in saving time on repetitive tasks performed on ledgers.We will learn more about LEDGER SET in further slides.

FEATURES / PURPOSE

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 AccountsCalendar/Period TypeA 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.

ADVANTAGES

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 consolidationFinancial Statement Generator Reports, etcIn case of a ledger set, which contains more than one ledger/ledger set in it, user can optionally set a default ledger for effective usage.Ledger set can be secured by having a Definition Access Set.

LIMITATIONS

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.

PREREQUISITES OF SETUP

Chart of AccountsOne need to define a chart of accounts structure in place.

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

CalendarOne has to define an Accounting Calendar

Existing Ledgers or Ledger SetsOne must have few pre defined ledgers or ledger sets in place.

INFORMATION REQUIRED FOR SETUP

13457682SETUP FORM - LEDGER SET

From the previous screen shot of the setup screen we can make out that following details are required in order to Define a ledger set.Ledger Set Short NameDescriptionChart of AccountsCalendarPeriod TypeDefault LedgerLedger/Ledger Set

Ledger Set Name It is a free text field, please provide a name for your Ledger SetShort NameYou can have a abbreviated form of your Ledger Set name as yourShort name.DescriptionGive a proper description, detailing the purpose of the Ledger Set.Chart of AccountsSelect your chart of accounts from the list of valuesCalendarSelect your calendar from the list of valuesPeriod TypeUpon selecting the calendar, the period type will be populated automatically.

Default LedgerIn 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 SetFrom the list of values, select the ledgers and/or ledger sets as per your preference.

SETUP - LEDGER SET

Switch responsibility to General Ledger

Navigate to Setup > Financials > Ledger Sets

Enter the name for your Ledger Set

Enter a Short name for your Ledger Set

Enter Description for your Ledger Set

Select an appropriate Chart of Accounts

Select a Calendar, which will default the Period Type

Select a Default Ledger (Optional Step)

Select ledgers as per your requirement.

Save Your Work

After saving, a concurrent program is automatically run by the system, you will get the following note.

Check the Status of the program, if it is completed normal, then there are no issues with the Ledger Set we have defined.

Q & A

Can a Ledger Set be created without any ledgers in itNo 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 definingNo one cannot delete a ledger set which has been createdCan one modify the Ledger Set which is already defined.Yes, you can add or remove Ledgers / Ledger SetsAfter setting up the Ledger Set, is there any additional setup required before using the sameYou must assign the Ledger Set to the profile option GL: Data Access Set.Oracle General Ledger automatically creates a Data Access Set, whenever a Ledger or Ledger Set is created.

!! Thank You for your time !!

Comments/ Suggestions / Criticisms / appreciations if any can be communicated to the email address below:ivruksha@gmail.com