Oracle EBS R12.1 Financials Essentials

Oracle EBS R12.1 Financials Essentials

General Ledger Lab Exercises

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Table of Contents

Create a Journal Batch 3

Create a Single Journal 4

Post Journal 5

Review Journal Entries and Account Balances 6

Reverse a Journal 7

Automatic Journal Reversal 8

Create a STAT Journal 9

Create Recurring Journal 10

Create Budgets and Budget Organizations 12

Create a Foreign Currency Journal 13

Define Accounting Flexfield 17

Creating Value Sets and Assigning Values 14

Define Accounting Calendar 19

Define Accounting Currency 21

Define Legal Entity 22

Define Ledger 23

Define Rollup and Summary Templates 24

Define Mass Allocation 26

Define Budgets 27

Define a Row Set 31

Define a Column Set 34

Define a Report 37

Lab GL-1 /

Create a Journal Batch

Objective: To create a journal batch / 10-15 minutes

Instructions:

·  In this lab you will create a journal batch with multiple journals.

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Journals à Enter

3.  Click on the New Batch Button.

4.  Enter the following values

Batch /

XX-Journal Batch

Control Total / 2000

5.  Click on Journals Button.

6.  Enter the following values

Journal /

XX-Journal 1

Category / Expenditures
Line 1
Line / 10
Account / Rent A/c from LoV
Debit / 800
Line 2
Line / 20
Account / Cash A/c from LoV
Credit / 800

7.  Save record.

8.  Click on Yes button of the control total message displayed.

9.  Navigate to the Journal Header

10.  Create new record. Navigation: File (M) à New

11.  Enter the following values

Journal /

XX-Journal 2

Category / Expenditures
Line 1
Line / 10
Account / Miscellaneous A/c from LoV
Debit / 1200
Line 2
Line / 20
Account / Cash A/c from LoV
Credit / 1200

12.  Save record.

Lab GL-2 /

Create a Single Journal

Objective: To create a single journal / 5 minutes

Instructions:

·  In this lab you will create a single journal to change the department of a rental expense.

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Journals à Enter

3.  Click on the New Journal Button.

4.  Enter the following values

Journal /

XX-Adjustment Journal 1

Category / Adjustment
Line 1
Line / 10
Account / Rent A/c from LoV
Debit / 800
Line 2
Line / 20
Account / Rent A/c from LoV with the modified Department segment value.
Credit / 800

5.  Save record.

Lab GL-3 /

Post Journal

Objective: To post journals using different methods / 3 minutes

Instructions:

·  In this lab you will post journals using different methods.

Method 1: Using the Post button

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Journals à Enter

3.  Query for the journal batch created earlier. Click on Find Button.

4.  Click on Post Button.

Method 2: Using the Post window

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Journals à Post

3.  Click on Find Button.

4.  Select all your journal records

5.  Click on Post Button.

Lab GL-4 /

Review Journal Entries and Account Balances

Objective: To Review Journal Entries and Account Balances / 5 minutes

Instructions:

·  In this lab you will use inquiry windows to review journal entries and account balances.

Using Account Inquiry

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Inquiry à Account

3.  Enter the following details:

From /

Current Period

To / Current Period
Primary Balance Type / Actual
Accounts / Select the Rent A/c as a range

4.  Click on Show Balances Button and verify the balances.

5.  Click on the Journal Details Button

6.  Click on Show Full Journal Button

Using Journal Inquiry

6.  Responsibility: General Ledger, Vision Operations (USA)

7.  Navigation: Inquiry à Journals

8.  Enter the following details

Batch /

Enter the name for the journal batch created by you

7.  Click on the Find Button.

8.  Click on the Review Journal Button

9.  Click on the T Accounts Button

10.  Click on the Options Button

Account Description /

Checked

Balances /

Unchecked

Entered Amounts /

Unchecked

Activity /

Checked

11.  Click on the T Accounts Button

12.  Click on the Activity Summary Button

Lab GL-5 /

Reverse a Journal

Objective: To reverse a journal entry / 5 minutes

Instructions:

·  In this lab you will reverse a journal entry.

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Journals à Enter

3.  Query an existing batch.

4.  Enter the following values

Batch /

Name of the batch created by you

5.  Click on the Find Button.

6.  Select the appropriate line and click on Review Journal Button.

7.  Click on the Reverse Button.

8.  Selct the current period and click on OK Button.

9.  Navigate to View à Requests and monitor the request until it completes

Post the Reversing Journal Entry

9.  Responsibility: General Ledger, Vision Operations (USA)

10.  Navigation: Journals à Post

11.  Click on Find Button.

12.  Select your journal records

13.  Click on the Post Button.

Lab GL-6 /

Automatic Journal Reversal

Objective: To reverse a journal automatically / 5 minutes

Instructions:

·  In this lab you will automatically reverse a journal entry.

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation:Setupà Journal àCategoriesà’XX Category”

3.  Save record

4.  Navigation: Setup à Journal à Autoreverse

5.  Enter the following values

Criteria Set /

XX Autoreverse

Category /

XX Category

Reversal Period /

Next Non-Adjusting

Autoreverse /

Checked

AutoPost Reversal /

Checked

6.  Save record.

Test the Automatic Reversal of Journal Entry

7.  Responsibility: General Ledger, Vision Operations (USA)

8.  Navigation: Journals à Enter

9.  Click on the New Journal Button.

10.  Enter the following values

Journal /

XX-Reclass Journal 1

Category / XX Category
Line 1
Line / 10
Account / Rent A/c from LoV
Debit / 800
Line 2
Line / 20
Account / Cash A/c from LoV
Credit / 800

11.  Save record.

12.  Click on the Post Button.

13.  Navigation: Reports à Request à Standard

14.  Click on OK Button

15.  Select the Program: Program - Automatic Reversal

16.  Select the Parameters: Period = All

17.  Submit the request and check the output

18.  Verify creation of reversal journal

Lab GL-7 /

Create a STAT Journal

Objective: To create a STAT journal / 5 minutes

Instructions:

·  In this lab you will create a STAT journal.

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Journals à Enter

3.  Click on the New Journal Button.

4.  Enter the following values

Journal /

XX-STAT Journal

Category / Headcount
Currency / STAT
Line 1
Line / 10
Account / Select A/c from LoV with natural account segment = Headcount – STAT for dept 1.
Debit / 100
Line 2
Line / 20
Account / Select A/c from LoV with natural account segment = Headcount – STAT for dept 2.
Debit / 200

5.  Save record.

6.  Click on Post Button.

Lab GL-8 /

Create Recurring Journal

Objective: To create Recurring journal / 10 minutes

Instructions:

·  In this lab you will create recurring journal.

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Journals à Define à Recurring

3.  Enter the following values

Batch /

XX-Skeleton Recurring Journal

Journal / XX Rec Journal
Category / Payroll
Currency / Functional Currency
Line 1
Line / 10
Account / Select Salary A/c from LoV for Dept 1.
Description / Salary for Dept 1
Line 2
Line / 20
Account / Select Salary A/c from LoV for Dept 2.
Description / Salary for Dept 2
Line 3
Line / 30
Account / Select Accrued Payroll A/c from LoV
Description / Payroll Account

4.  Save record.

5.  Click on the Generate Button.

6.  Click on the Submit Button.

7.  Select the current accounting period and click on Submit Button.

8.  Confirm successful completion of the program

9.  Navigation: Journals à Enter

10.  Enter the Batch Name = XX-Skeleton Recurring Journal

11.  Click on Find Button

12.  Click on Review Journal Button

13.  Complete the skeleton Journal with the following values:

Batch /

XX-Skeleton Recurring Journal

Journal / XX Rec Journal
Category / Payroll
Currency / Functional Currency
Line 1
Line / 10
Account / Select Salary A/c from LoV for Dept 1.
Description / Salary for Dept 1
Debit / 10000
Line 2
Line / 20
Account / Select Salary A/c from LoV for Dept 2.
Description / Salary for Dept 2
Debit / 20000
Line 3
Line / 30
Account / Select Accrued Payroll A/c from LoV
Description / Payroll Account
Credit / 30000

14.  Save record.

15.  Click on the Post Button

Lab GL-9 /

Create Budgets and Budget Organizations

Objective: To create Budgets and Budget Organizations / 10 minutes

Instructions:

·  In this lab you will define and load budget information.

Budget

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Budgets à Define à Budget

3.  Enter the following values

Name /

XX-Budget

Status / Open
First / Jan-08
Last / Dec-08

4.  Click on the Open Next Year Button.

5.  Click on the Yes Button.

6.  Click on the OK Button.

Budget Organization

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Budgets à Define à Organization

3.  Enter the following values

Name /

XX-Budget Org

Display Sequence / 1-2-3-4-5

4.  Click on the Ranges Button.

5.  Enter an appropriate account range.

6.  Save record.

Budget Amounts

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Budgets à Enter à Amounts

3.  Enter the following values

Organization /

XX-Budget Org

Budget / XX-Budget
Accounting Periods / Select from LOV

4.  Enter Amounts based on the following rules:

Account 1

Amount / 12000
Budget Rule / Divide Equally

Account 2

Amount / 1000
Budget Rule / Repeat per Period

Account 3

Amount / 24000
Budget Rule / Divide Equally

5.  Click on Post Button to post the budget amounts.

Lab GL-10 /

Create a Foreign Currency Journal

Objective: To create a foreign currency journal / 5 minutes

Instructions:

·  In this lab you will create a foreign currency journal.

1.  Responsibility: General Ledger, Vision Operations (USA)

2.  Navigation: Journals à Enter

3.  Click on the New Journal Button.

4.  Enter the following values

Journal /

XX-Foreign Journal

Category / Expenses
Currency / INR
Line 1
Line / 10
Account / Select Airfare A/c from LoV
Debit / 10000
Line 2
Line / 20
Account / Select Cash A/c from LoV
Credit / 10000

5.  Save record.

6.  Click on Post Button.

Lab GL-11 /

Creating Value Sets and Assigning Values

Objective: To create a new accounting flexfield structure / 15 minutes

Assumptions

· Replace XX with your terminal number or initials.

· You must have access to an Oracle Application Vision database, or a comparable training, or test instance at your site on which to complete this practice.

Instructions:

Creating a Value Set

1. Responsibility: System Administrator

2. Navigate to the Value Sets window:

(N) Application > Validation > Set

3. Create the independent value set:

Field name / Value
Value Set Name / XXCompany
Description / Major class
List Type / List of Values
Security Type / Non-Hierarchical Security
Format / Char
Max. Size / 10
Uppercase Only (A-Z) / Checkbox to be selected
Right Justify and Zero-fill Numbers (001) / Checkbox to be selected
Validation Type / Independent

4. Save your work.

Adding Values

5. Navigate to the Values window:

(N) Application > Validation > Values

6. Search for any existing values using your value sets.

7. Enter values according to the following table and Save:

Value / Description / Enabled / Parent / Allow Budgeting/Posting
00 / Corporate / Yes / No / Yes, Yes
01 / Domestic Ops / Yes / No / Yes, Yes
02 / Europe SA / Yes / No / Yes, Yes
03 / Foreign Ops / Yes / No / Yes, Yes
T / Total All Companies / Yes / Yes / No, No

8. Similarly create 2 more value sets with name XXAccount and XXDepartment as above