In this practice you will create a key flexfield structure and values for your chart of accounts. The design of the structure has already been determined. The flexfield will have four segments: a company segment, a cost center segment, an account segment, and a segment labeled Future for possible future expansion, in that order. Before you define the structure, you must first create the value sets, then create the structure, identifying the segments by their respective flexfield qualifiers. Finally, you will create the valid values for each segment. After creating the values, test your structure by performing the first steps in the process for creating a new set of books.
Note: After saving your accounting flexfield structure, you may receive a message that the key flexfield is not compiled. There is no need to take action. The flexfield will be compiled automatically.
Responsibility: System Administrator
1- (N) Application > Validation > Set. Enter the information for the first value set in the following fields:
• Value Set Name: INAM_CO
• Description: INAMCompany Value Set
• Security Type: Non-Hierarchical Security
• Format Type: Char
• Maximum Size: 2
• Right-justify and Zero-fill Numbers: Selected
• Validation Type: Independent
Save your work.
2- Enter the information for the second value set in the following fields:
• Value Set Name: INAM_COST
• Description: INAM Cost Center Value Set
• Security Type: Non-Hierarchical Security
• Format Type: Char
• Maximum Size: 3
• Right-justify and Zero-fill Numbers: Selected
• Validation Type: Independent
Save your work.
3- Enter the information for the third value set in the following fields:
• Value Set Name: INAM_ACCOUNT
• Description: INAM Account Value Set
• Security Type: Non-Hierarchical Security
• List Type: Enable Long List of Values
• Format Type: Char
• Maximum Size: 4
• Right-justify and Zero-fill Numbers: Selected
• Validation Type: Independent
Save your work.
4- Enter the information for the fourth value set in the following fields:
• Value Set Name: INAM_Future
• Description: INAM Reserved for Future Use Value Set
• Security Type: Non-Hierarchical Security
• Format Type: Char
• Maximum Size: 4
• Right-justify and Zero-fill Numbers: Selected
• Validation Type: Independent
Save your work and close the Value Sets window.
Define your Structure
1- (N) Application > Flexfield > Key > Segments. Query the application General Ledger and the flexfield title "Accounting Flexfield". In the Structures region, insert a new record and enter the information for the flexfield
structure in the following fields:
• Code: INAM_COA
• Title: INAM Chart of Accounts
• Description: INAM Chart of Accounts
• Enabled: Selected
• Segment Separator: Period (.)
• Cross-Validate Segments: Selected
• Allow Dynamic Inserts: Selected
Click (B) Segments to navigate to the Segments Summary window. Enter the information for the first segment in the following fields:
• Number: 1
• Name: CO
• Window Prompt: Company
• Column: SEGMENT1
• Value Set: INAM_CO
• Displayed: Selected
• Enabled: Selected
Click (B) Open to navigate to the Segments window. Enter the information for the first segment in the following fields:
• Security Enabled: Selected
• Display Size: 2
• Description Size: 30
Save your work.
Click (B) Flexfield Qualifiers to navigate to the Flexfield Qualifiers window. Select the Enabled check box for the Balancing Segment flexfield qualifier.
Save your work.
2- Navigate back to the Segments Summary window. Enter the information for the second segment in the following fields:
• Number: 2
• Name: CC
• Window Prompt: Cost Center
• Column: SEGMENT2
• Value Set: INAM_COST
• Displayed: Selected
• Enabled: Selected
Click (B) Open to navigate to the Segments window. Enter the information for the second segment in the following fields:
• Security Enabled: Selected
• Display Size: 3
• Description Size: 30
Save your work.
Click (B) Flexfield Qualifiers to navigate to the Flexfield Qualifiers window. Select the Enabled check box for the Cost Center Segment flexfield qualifier. Save your work.
3- Navigate back to the Segments Summary window. Enter the information for the third segment in the following fields:
• Number: 3
• Name: ACCT
• Window Prompt: Account
• Column: SEGMENT3
• Value Set: INAM_ACCOUNT
• Displayed: Selected
• Enabled: Selected
Click (B) Open to navigate to the Segments window. Enter the information for the third segment in the following fields:
• Security Enabled: Selected
• Display Size: 4
• Description Size: 30
Save your work.
Click (B) Flexfield Qualifiers to navigate to the Flexfield Qualifiers window. Select the Enabled check box for the Natural Account Segment flexfield qualifier. Save your work.
4- Navigate back to the Segments Summary window. Enter the information for the fourth segment in the following fields:
• Number: 4
• Name: RFU
• Window Prompt: Future Use
• Column: SEGMENT4
• Value Set: INAM_FUTURE
• Displayed: Selected
• Enabled: Selected
Click (B) Open to navigate to the Segments window. Enter the information for the fourth segment in the following fields:
• Default Type: Constant
• Default Value: 0000
• Security Enabled: Selected
• Display Size: 4
• Description Size: 30
Save your work and close the Segments window.
5- Close the Segment Summary window to avigate back to the Key Flexfield Segments window.
Select the Freeze Flexfield Definition check box. Click (B) OK to acknowledge Caution message.
Click (B) Compile to compile the flexfield definition. You will find two notes indicating that the flexfield was compiled successfully. Click (B) OK to each note about submitting your request to generate the flexfield view.
Define your Values
1- (N) Application > Validation > Values. In the Find window, select Value Set and find the INAM_CO value set. Click (B) Find. In the Values, Effective region of the Segment Values window, define the following values:
Value Description Enabled
01 Red Co. Checked
02 Orange Co. Checked
03 Yellow Co. Checked
04 Green Co. Checked
05 Blue Co. Checked
Save your work.
2- In the Segment Values window, verify Value Set radio button is selected and your cursor is in the header region, then query the INAM_COST value set in the Name field. In the Values, Effective region, define the following values:
Value Description Enabled
000 Not Specified Checked
100 Sales Checked
200 Services Checked
300 Development Checked
Save your work.
3- In the Segment Values window, verify Value Set radio button is selected and your cursor is
in the header region, then query the INAM_ACCOUNT value set in the Name field. Define the following values:
Note: Click in the Qualifiers field in the Values, Hierarchy, Qualifiers region to display the Segment Qualifiers window and enter a value in the Account Type field. Accept the default values for the other fields in the Segment Qualifiers window.
Save your work.
4- In the Segment Values window, select Value Set and find the INAM_FUTURE value set. Click (B) Find.
In the Values, Effective region, define the following values:
Value Description
0000 Not Specified
Save your work and close the Value window. Click (B) OK to the note about submitting your request to compile 4 value set hierarchies.
Test your Key Flexfield
After defining your value sets, segments, and values, navigate to the Accounting Flexfield to test the results of your work. To view the Accounting Flexfield, you will perform the beginning steps in the process for creating your accounting structure and then view the accounting flexfield you created earlier in this practice.
Responsibility: General Ledger Super User
1- (N) Setup > Financials > Accounting Setup Manager > Accounting Setups.
2- In the Accounting Setups window, click (B) Create Accounting Setup.
3- Click (B) Next to access the Create Accounting Setups: Define Accounting Representations
window. Enter the following information:
− Name: INAM_COA
− Chart of Accounts: INAM Chart of Accounts
− Accounting Calendar: Accounting (Year)
− Currency: USD
4- Click (B) Next and (B) Finish to save your accounting structure.
6- Click (B) Define Accounting Options in the confirmation page.
In the Primary Ledger region, click the Update icon for Ledger Options.
7- Click (B) Next to access the Update Ledger: Ledger Options window.
8- In the Year End Processing region, click the Search icon for the Retained Earnings Account field to display the list of values. The Accounting Flexfield appears.
9- Enter values in the Accounting Flexfield to test your work.
10 - Cancel your entries and exit without saving.
NOTE: If you get error while creating accounting setup , it is probably because of the calendar. create your own calendar and try to create the again.
Note: After saving your accounting flexfield structure, you may receive a message that the key flexfield is not compiled. There is no need to take action. The flexfield will be compiled automatically.
Responsibility: System Administrator
1- (N) Application > Validation > Set. Enter the information for the first value set in the following fields:
• Value Set Name: INAM_CO
• Description: INAMCompany Value Set
• Security Type: Non-Hierarchical Security
• Format Type: Char
• Maximum Size: 2
• Right-justify and Zero-fill Numbers: Selected
• Validation Type: Independent
Save your work.
2- Enter the information for the second value set in the following fields:
• Value Set Name: INAM_COST
• Description: INAM Cost Center Value Set
• Security Type: Non-Hierarchical Security
• Format Type: Char
• Maximum Size: 3
• Right-justify and Zero-fill Numbers: Selected
• Validation Type: Independent
Save your work.
3- Enter the information for the third value set in the following fields:
• Value Set Name: INAM_ACCOUNT
• Description: INAM Account Value Set
• Security Type: Non-Hierarchical Security
• List Type: Enable Long List of Values
• Format Type: Char
• Maximum Size: 4
• Right-justify and Zero-fill Numbers: Selected
• Validation Type: Independent
Save your work.
4- Enter the information for the fourth value set in the following fields:
• Value Set Name: INAM_Future
• Description: INAM Reserved for Future Use Value Set
• Security Type: Non-Hierarchical Security
• Format Type: Char
• Maximum Size: 4
• Right-justify and Zero-fill Numbers: Selected
• Validation Type: Independent
Save your work and close the Value Sets window.
Define your Structure
1- (N) Application > Flexfield > Key > Segments. Query the application General Ledger and the flexfield title "Accounting Flexfield". In the Structures region, insert a new record and enter the information for the flexfield
structure in the following fields:
• Code: INAM_COA
• Title: INAM Chart of Accounts
• Description: INAM Chart of Accounts
• Enabled: Selected
• Segment Separator: Period (.)
• Cross-Validate Segments: Selected
• Allow Dynamic Inserts: Selected
Click (B) Segments to navigate to the Segments Summary window. Enter the information for the first segment in the following fields:
• Number: 1
• Name: CO
• Window Prompt: Company
• Column: SEGMENT1
• Value Set: INAM_CO
• Displayed: Selected
• Enabled: Selected
Click (B) Open to navigate to the Segments window. Enter the information for the first segment in the following fields:
• Security Enabled: Selected
• Display Size: 2
• Description Size: 30
Save your work.
Click (B) Flexfield Qualifiers to navigate to the Flexfield Qualifiers window. Select the Enabled check box for the Balancing Segment flexfield qualifier.
Save your work.
2- Navigate back to the Segments Summary window. Enter the information for the second segment in the following fields:
• Number: 2
• Name: CC
• Window Prompt: Cost Center
• Column: SEGMENT2
• Value Set: INAM_COST
• Displayed: Selected
• Enabled: Selected
Click (B) Open to navigate to the Segments window. Enter the information for the second segment in the following fields:
• Security Enabled: Selected
• Display Size: 3
• Description Size: 30
Save your work.
Click (B) Flexfield Qualifiers to navigate to the Flexfield Qualifiers window. Select the Enabled check box for the Cost Center Segment flexfield qualifier. Save your work.
3- Navigate back to the Segments Summary window. Enter the information for the third segment in the following fields:
• Number: 3
• Name: ACCT
• Window Prompt: Account
• Column: SEGMENT3
• Value Set: INAM_ACCOUNT
• Displayed: Selected
• Enabled: Selected
Click (B) Open to navigate to the Segments window. Enter the information for the third segment in the following fields:
• Security Enabled: Selected
• Display Size: 4
• Description Size: 30
Save your work.
Click (B) Flexfield Qualifiers to navigate to the Flexfield Qualifiers window. Select the Enabled check box for the Natural Account Segment flexfield qualifier. Save your work.
4- Navigate back to the Segments Summary window. Enter the information for the fourth segment in the following fields:
• Number: 4
• Name: RFU
• Window Prompt: Future Use
• Column: SEGMENT4
• Value Set: INAM_FUTURE
• Displayed: Selected
• Enabled: Selected
Click (B) Open to navigate to the Segments window. Enter the information for the fourth segment in the following fields:
• Default Type: Constant
• Default Value: 0000
• Security Enabled: Selected
• Display Size: 4
• Description Size: 30
Save your work and close the Segments window.
5- Close the Segment Summary window to avigate back to the Key Flexfield Segments window.
Select the Freeze Flexfield Definition check box. Click (B) OK to acknowledge Caution message.
Click (B) Compile to compile the flexfield definition. You will find two notes indicating that the flexfield was compiled successfully. Click (B) OK to each note about submitting your request to generate the flexfield view.
Define your Values
1- (N) Application > Validation > Values. In the Find window, select Value Set and find the INAM_CO value set. Click (B) Find. In the Values, Effective region of the Segment Values window, define the following values:
Value Description Enabled
01 Red Co. Checked
02 Orange Co. Checked
03 Yellow Co. Checked
04 Green Co. Checked
05 Blue Co. Checked
Save your work.
2- In the Segment Values window, verify Value Set radio button is selected and your cursor is in the header region, then query the INAM_COST value set in the Name field. In the Values, Effective region, define the following values:
Value Description Enabled
000 Not Specified Checked
100 Sales Checked
200 Services Checked
300 Development Checked
Save your work.
3- In the Segment Values window, verify Value Set radio button is selected and your cursor is
in the header region, then query the INAM_ACCOUNT value set in the Name field. Define the following values:
Note: Click in the Qualifiers field in the Values, Hierarchy, Qualifiers region to display the Segment Qualifiers window and enter a value in the Account Type field. Accept the default values for the other fields in the Segment Qualifiers window.
Save your work.
4- In the Segment Values window, select Value Set and find the INAM_FUTURE value set. Click (B) Find.
In the Values, Effective region, define the following values:
Value Description
0000 Not Specified
Save your work and close the Value window. Click (B) OK to the note about submitting your request to compile 4 value set hierarchies.
Test your Key Flexfield
After defining your value sets, segments, and values, navigate to the Accounting Flexfield to test the results of your work. To view the Accounting Flexfield, you will perform the beginning steps in the process for creating your accounting structure and then view the accounting flexfield you created earlier in this practice.
Responsibility: General Ledger Super User
1- (N) Setup > Financials > Accounting Setup Manager > Accounting Setups.
2- In the Accounting Setups window, click (B) Create Accounting Setup.
3- Click (B) Next to access the Create Accounting Setups: Define Accounting Representations
window. Enter the following information:
− Name: INAM_COA
− Chart of Accounts: INAM Chart of Accounts
− Accounting Calendar: Accounting (Year)
− Currency: USD
4- Click (B) Next and (B) Finish to save your accounting structure.
6- Click (B) Define Accounting Options in the confirmation page.
In the Primary Ledger region, click the Update icon for Ledger Options.
7- Click (B) Next to access the Update Ledger: Ledger Options window.
8- In the Year End Processing region, click the Search icon for the Retained Earnings Account field to display the list of values. The Accounting Flexfield appears.
9- Enter values in the Accounting Flexfield to test your work.
10 - Cancel your entries and exit without saving.
NOTE: If you get error while creating accounting setup , it is probably because of the calendar. create your own calendar and try to create the again.
 |
| My own calendar as I was getting error while creating the accounting setup. |
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