Define a Ledger (Required) R12

Assumptions

Replace XX with your terminal number or unique number. You must have access to an Oracle Application Vision database or comparable training or test instance at your site on which to complete this practice.

Tasks Define a Legal Entity 1. (N) Setup > Financials > Accounting Setup Manager > Accounting Setups. 2. (B) Create Accounting Setup 3. (B) Create Legal Entity

Territory = You choose Legal Entity Name = XXVision Corporation Organization Name = XXVision Corporation Legal Entity Identifier = XXSYS1000 EIN/TIN = XX1234567 Registration Number = You choose Transaction Entity = Yes

4. Create a New Address = Selected

You choose the address

5. (B) Apply Assign a Legal Entity 6. (B) Add Another Row

Legal Entity = XXVision Corporation

7. (B) Next Define a Ledger Name XXLedger Chart of Accounts XXAccounting Flexfield Accounting Calendar XXAccounting Currency USD Subledger Accounting Method Standard Accrual

8. (B) Next

Set Up Ledger Options 9. (B) Define Accounting Options 10. Locate the Ledger Options setup step and select the Pencil Icon to update

First Ever Opened Period = Dec-XX (where XX is last year) Future Periods = 2

11. (B) Next

Retained Earnings = 01.000.3310.00 Suspense Account = 01.000.2990.00 Rounding Difference Tracking Account = 01.400.7990.00 Cumulative Translation Adjustment Account = 01.000.3500.00

12. (B) Next 13. (B) Next 14. (B) Finish 15. Ensure the status has a green checkmark indicating the setup step is complete. Set Up Reporting Currencies Locate the Reporting Currencies setup step and select the Pencil Icon to update 16. (B) Complete 17. Ensure the status has a green checkmark indicating the setup step is complete. 18. (B) Complete 19. (B) Yes to acknowledge the warning message 20. Close windows until you are back at the Navigator