- Business Group – ( Owners, BoD specific ) Employee, Highest level of Financial Reporting --- > HRMS (Employee setup, HR Organization)

--Legal Entity (Country-specific ) Private/Public, Tax, FDI, Stock Exch, Labor law --- > HRMS(Payroll setup), SoB (COA, Curr, Cal)

---OU ( specific to Person who’s responsible for P&L, BS ) VP-Product, VP-Service ---- > AR, OM, AP, PO, CM, GL --- > OU is always Profit center because of Rev in AR.

---Inv Org (People and M/c involved in generating the revenue) Plant, Office, Sales office, sw dev center, warehouse (COGS) ---- > INV (RCV, Shipping) MFG (WIP, QA, WMS, SCP)---- > Inv Org is always the Cost center because of COGS after shipping

How to define a Chart of Accounts in Oracle Apps R12Chart of accounts is the accounting structure used to record financial and

accounting transactions of an organization to help maintain accounting

balances. Chart of Accounts is a key flexfield having one or more data

segments as defined by the user.

An Oracle Chart of Accounts can have upto 30 segments in a flexfield. Of

these, 2 of the segments are mandatory viz. Balancing segments and natural

account. This means that there must be at the minimum 2 segments defined

which can go upto 30.

To define the chart of accounts, the following setups have to be completed:

1. Define Value Sets

2. Define Accounting Flexfield Structure

3. Define Flexfield Qualifiers for the segments

Month end process in which basically users will close all the periods and import all the journals in GL from other modules (Payable, Receivable, Fixed Assets etc.).Then run all the month end GL reports like Trial Balance, Account Analysis etc. 

The suggested module wise sequence to be followed for Period-End process is as follows. 

1. Projects

2. Payables 

3. Purchasing 

4. Assets  

5. Receivables

6. Inventory

7. General Ledger

P2P:

What are the journals entries in Procure to Pay Cycle.Ans) 

Description                                                                             DR                                  CR

A) Po creation                                                                    No Entry                          No Entry

B)  While Receiving the goods                                       Material Receiving            Ap Accurval 

C) While Inspection                                                        No Entry                            No Entry 

D) While Trans ford the good to Inventory               Inv Org Material              Material Receiving                                                                                     Purchase price Varience

F) While Po Is Matching to Invoices                         Ap Accurval                        Liability

G) While Making the Payment                                 Liability                               Cash Clearing 

 H) Ofter Reconciliation                                           Cash Clearing                     Cash

 I) Final Entry                                                            Inv Org Material                Cash

Set of Books – Additional DFF Information Summary Proposal The purpose of this configuration is to provide a method for grouping all the existing sets of books and any future ones by region, type and usage. This requirement originated from a personalization on the AP banks screen to validate BIC codes, and the increasing complexity of the validation gave rise to the need to group sets of books by region.  This would allow the personalization to be defined at a site level but to provide validation for a specific region.This would also save the time as risk of adding specific responsibilities to the personalization is removed. This then led to other possible uses for the DFF that would reduce report and custom development complexity if we also added a DFF to indicate the book type and if that book was the prime book of entry for a given country. For exampleCheck if postings are being made to prime books beyond period end close.Or checking what types of journals are being entered to non prime books.Only allow 'TP' entries to be posted in management type books.Blocking manual journal entries in consolidation type books The proposed DFF’s to be added to the set of books screen are as follows along with the values for each are as follows : REGIONAS = AsiaLA = Latin AmericaEU = EuropeNA = North America BOOK TYPEL = Local/StatutoryG = GAAP

M = MGMTC = Consolidation Book PRIME ?Y or N to indicate of this book is used as the prime book of entry for that country.  If approved, these DFF’s would be a mandatory field on the GL sets of books, and as such all the existing book records would need updating with this DFF information in attribute fields 1,2 & 3. This could either be entered manually, or via a small script. Configuration Steps The configuration steps required to implement these proposed changes are as follows. Define New Value SetNAV : System Administrator > Flexfield >Validation>Sets Define a new value set for the book types has shown below. This is needed because the existing book type value set is used by the legacy system interface and cannot be altered. 

 NAV : System Administrator > Flexfield >Validation>Sets

 Then add the values to this new value set as follows. 

 Define New DFF NAV : System Administrator > Flexfield >Descriptive > Segments The search for the title ‘Set of Books’Untick the ‘Freeze Flexfield Definition’ box. Then untick the required & displayed fields if they are ticked.

Press the ‘Segments’ buttonAnd define the segments shown below. 

Once the segments are defined, open each one in turn and update the fields as shown on the following page. REGIONTick the required box and update the display sizes to match those below.

 BOOK TYPETick the required box and update the display sizes to match those below.

 PRIME ENTRY BOOK?Tick the required box and update the display sizes to match those below.

 Once the above configuration has been completed, you can then re-freeze the flexfield definitions and test.SET OF BOOKS DFF TESTING Once the configuration has been completed the resulting DFF should look like this. 

A pick list is available for all fields and the user is required to complete them all before saving changes to a set of books.