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Oracle GL classifies
accounts as Asset, Liability, Owner Equity, Revenue, or Expense.
To correct balances for a
misclassified account:
1. Reopen the last period
of your prior fiscal year, if it is closed.
2. Create a journal entry
that brings the misclassified account balance to zero for the last period
of your prior fiscal year. Use a temporary account such as Suspense for
the offsetting amount.
3. Post the journal entry.
4. Verify that the
misclassified account balance is zero by reviewing account balances online
or in reports.
5. Correct the account type
of the misclassified account by changing the segment value qualifiers.
General Ledger prevents you from changing the account type unless you
first unfreeze all account structures that reference your account segment
using the Key Flexfield Segments form.
6. Ask your System
Administrator to correct the account type of all accounts referencing the
misclassified account by updating the ACCOUNT_TYPE column in the
GL_CODE_COMBINATIONS table using SQL*Plus.
7. Restore the
misclassified account balance by reversing the journal entry you posted to
the last period of your prior fiscal year. Reverse the journal entry into
the same period in which it was originally posted.
8. Post the reversing
journal entry the Cash account type is now Asset so when you post the
reversing journal entry, General Ledger rolls forward your Cash and
Retained Earnings balances into the first period of the new fiscal year.
Review the corrected
account balances online or in reports.
Create a separate budget
organization for each of your budgets. If you share a budget organization
between budgets, you risk increasing both your master and detail budget
balances when you budget to a detail budget.
AutoCopy can save you a lot
of work even if the Accounting Flexfield assignments in two budget
organizations are not identical. After using AutoCopy, you can add or
delete AFF ranges as needed.
If you define a budget
formula that uses summary account balances, be sure to first define the
parent segment value ‘T’ for each segment of your Accounting Flexfield
structure. Assign all detail values to the children of ‘T’.
It is easiest to define
default format options in your column set. You can then override your
defaults for specific rows of your report.
When setting up GL, define
your calendar at least one year before your current fiscal year. Defining
one year at a time helps you be more accurate and reduces the amount of
period maintenance you must do at the start of each accounting period.
When you define a new set
of books and open the first accounting period, choose carefully the
accounting period you want to open. The accounting period you choose is
the first period in which you can enter accounting information and
generate reports. However, you cannot translate account balances for the
first period ever opened. Therefore, open one period prior to the first
accounting period in the calendar for your set of books, because once you
open your first accounting period, Oracle GL does not allow you to open
prior periods.
To maximize the efficiency
of the GL posting process, limit the number of calendar periods that are
open at one time.
FYI If all JE data is for
one company but out of balance due to [currency] rates, Oracle corrects at
JE posting time by adjusting largest JE line.
There is an alternate way
of running FSGs. You can run FSGs through the Standard Report Screen. The
concurrent program name is 'Program – Run Financial Statement Generator'
under 'Oracle General Ledger' application. You can add this report to your
Report Sec. Group, and then run your FSGs through SRS, where you have the
facility of resubmission.
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