Creating finance enterprise groups

Select Financials > Global Ledger > Setup > Finance Enterprise Group > Maintenance.

Click Create.

On the Finance Enterprise tab, specify this information:

Finance Enterprise Group: Specify the enterprise group on which the finance enterprise group is based.
Finance Enterprise Group Description: Provide a description.
Core Ledger: Specify the name of the core ledger. You can change the default name.; The core ledger contains all of the transactions that are included in all financial reports, regardless of the reporting basis.
Core Ledger Description: Provide a description for the core ledger.

Click Next.

On the Finance Structure tab, specify this information:

Dimensions

Specify the accounting elements and dimensions that form your accounting string. For each element that you include in the accounting string, select the position of the element in the accounting string. Then specify whether the element is required. To exclude a predefined element, remove the label and select Not Selected in the Order column.

You can re-label predefined elements. If you do, then the new labels replace the original labels throughout the solution.

Accounting Entity: The legal entity where a transaction is posted. You cannot change Required status on this field. You can re-label the field, for example to Company, and change its predefined position in the accounting string.
Accounting Unit: An optional element in your accounting string. If you include this element in your accounting string, then it becomes a required field in your finance structure. You can relabel the field, to Department and change its predefined position in the accounting string. Accounting unit structures exist in the context of an entity. You create accounting unit structures when you create accounting entities.
Project: Include this field if you are using Project Ledger. You can change whether the field is required, the field label, and the order in which it is displayed on input pages.
Project is generally an optional field in your accounting string. It is only used on expense type transactions. If you designate this field as required, then it must be specified on every transaction.

Use Sub Accounts

Select this check box if you plan to create independent sub accounts groups that you can attach to any accounts. The Sub Accounts tab is available when you click Next.

User Dimensions

Specify up to 10 user dimensions, define them as required or optional, and assign an order in the accounting structure. For example, you can specify a dimension named Location.

Note: User dimension 1 can be set up for zone balancing.

When you save the enterprise group, the dimensions are displayed as tabs on the Finance Enterprise Group page. You must create structures for the dimensions that you specified.

Click Next

To create structure exceptions, see Creating structure exception records.

On the Options tab, specify this information:

Require Unique Journal ID

Select this check box if a unique journal ID is required for a journal entry. If this check box is selected, then journal entries that are manually created or created with Spreadsheet Designer require a value in the Unique Journal ID field.

A value in the Unique Journal ID field is required if you copy a journal using the Copy Journal action or create a journal from a template. Optionally, a value can be specifed in the Unique Journal ID field. The value must be unique within the finance enterprise group.

After a value is successfully assigned to a journal, it cannot be changed. Journals that are created automatically do not have a value in Unique Journal ID. For example, recurring journals, auto-reversal journals, inter-entity journals, and journals that are created with the transaction interface.

Unit Control

Specify the unit control level. Valid values are Account, Accounting Unit, or Dimension 1. The default value is Account.

On the account setup are three valid values for unit control: Not Required, No, and Required. The default value is Not Required.

When you set the unit control for Accounting Unit or Dimension 1, a structure relation must exist between the Account and the Accounting Unit or the Account and Dimension 1. The unit setting is maintained on the Structure Relation Pair Detail record.

If the Structure Relation Pair Detail record does not exist, then the setting on the account is used. The values for unit control on Accounting Unit or Dimension 1 are Default, No, Required, and Not Required.

If you do not change the value on the relation detail record, then Default is used. When Default is used, the value on the account for the relation detail record is used.

Inter Entity Dimension

Select the finance dimension for Inter Entity transactions. An Inter Entity relation must exist for journal entries that have transaction lines for multiple accounting entities. This value defines whether sub-accounts or one of the ten dimensions is used for the system-generated transaction lines to balance the accounting entities. These are the inter-company balancing transaction lines identified by the event code CB for Cash Management in the Inter Entity journal entry.

HR Organization

Select the HR organization from your HR Talent system. Actor-agent records can be created in FSM only after the employee record exists in HR Talent.

Separate Agent and Parent Agent tables are maintained in FSM and HR Talent but the content must be identical.

BOD Trigger

Select this check box to trigger the production of a Business Object Document (BOD) when changes are made to the finance enterprise group.

BOD Cost Center

If you selected the BOD Trigger check box, select a dimension that is the cost center for BODs.

Structure Exceptions

Select this check box to show the structure selection for the finance enterprise group. Structure exceptions are used to define finance structure code block records that are invalid or valid only for a specific date range.

Create A Monthly Calendar

Select this check box to create a monthly calendar for the finance enterprise group. If this check box is selected, then the Calendar tab is available in the finance enterprise group. Create other calendars after the finance enterprise group is created.

Lease Accounting Method

This field is used for leases.

See Creating finance enterprise groups for GASB 87 leases.

ADB Selection

Select an option to create average daily balance accounts.

Dimension For Department Journal

Select an accounting unit or a dimension from Dimensions 1 through 10 to use to track department journal entries.

Project Date Edit

If you set your finance structure to use Project Ledger then you must select a project date edit. Project Ledger transactions or journal entries must fall within a date range that is assigned to the project. Indicate whether to use posting date or transaction date when the date validation is performed:

Transaction Date is used for service companies and for billing by rates. The date worked is used, not the date paid or the posting date. An employee bill rate is determined by the payroll cycle.
Posting Date is used for healthcare. Edits are based on the period the transactions are posted to. Budgets are based on the period and year for controlling costs.

Project Burden Date

If your organization uses Project Ledger and you calculate burdens to create indirect expenses, you must select the burden date. The burdens are fees for administration and overhead based on project direct costs. Valid values are transaction date and posting date. Indicate whether to use posting date or transaction date from the source transaction. The rate that is in effect and the rate to use when calculating the burden transaction are determined by this date.

Project Invoicing

If your organization uses Project Invoicing and Revenue to bill external customers or grants for billable or grant-funded projects, then select this check box.

If the check box is selected, then Finance Dimension 2 is required. Use Finance Dimension 2 to track project funding sources such as customers or grants.

Billing Override Level

Select the dimension to use for project billing overrides.

Third Party Invoice Print

Select this check box if your organization uses Project Invoicing and Revenue to bill and a third party to print invoices.

Project Structure Validation Dimension

If your organization uses Project Ledger, then you can select the dimension that is used to define validation rules, for example, Account Category. After the dimension is selected, you can set up project structure validation rules.

See Project structure validation setup.

[User dimension 1] Zone Balancing

Select to use zone balancing. This check box appears if the first user dimension is configured.

See Zone balancing setup.

Currency Exchange Table

If you set your finance structure to use Project Ledger, then select the currency exchange table. The currency exchange rates for the currencies that are used by the finance enterprise group are defined by the currency exchange table.

Currency name

Specify the name for the currency.

Code

Select a currency code.

Auto Balance Threshold

For the currency, specify a threshold to limit the amount that may be auto-balanced when manually releasing a journal.

Zone Payables, Zone Receivables

If you are setting up user Dimension 1 for Zone Balancing, specify the Account, Description, Chart Section, and Account Type for zone payables and receivables.

Click Next.

If you select the Use Sub Accounts check box, then specify a sub account and description on the Sub Account tab. Click Next.

On the Regular Expression tab, specify a regular expression for any of the dimensions that are defined on the Finance Structure tab. These fields use the standard JAVA regular expression.

Click Next.

On the Currency tab, you can select up to five enterprise currencies. The currencies can be used by the accounting entities associated with this finance enterprise group. If you set your finance structure to use Project Ledger, then the default values for Currency Exchange Table and Enterprise Currency 1 come from the Options tab. Specify this information:

Default Decimals Option

Select the number of decimals to show and use when a transaction is created. The number of decimals that are defined on the currency code setup is the default when a transaction is saved.

This example shows the behavior:

Default Decimals Option. 2
Currency Code. 3 decimals
Behavior. When a transaction is created, only two decimal values are allowed. When the transaction is saved, the value is changed to three decimals.

Currency Exchange Table

If multiple currencies are used on the finance enterprise group, then select a currency exchange table. Select the currency exchange table that defines the currency exchange rates for the currencies that are used by the finance enterprise group. This field is required if you use multiple currencies or if you are using Project Ledger.

Currency Revaluation and Translation

Select this check box to use currency revaluation and translation for the finance enterprise group currency.

Name

Specify the name for each currency selected in the Code field.

Code

Select up to five enterprise currencies that can be used by the accounting entities associated with this finance enterprise group.

Auto Balance Threshold

For each currency, specify a threshold to limit the amount that may be auto-balanced when manually releasing a journal.

Translation Gain, Translation Loss, Unrealized Gain, Unrealized Loss

If you selected Currency Revaluation and Translation, specify gain and loss accounts to be used for revaluation and translation.

Click Next. On the System Accounts tab, specify this information:

Account, Description, Chart Section, Account Type

If you know the system accounts to use, then you can specify them on this page. When you click Next, any system accounts you specify are saved as system accounts. You can no longer add system accounts directly on the form after clicking Next.

Not all system accounts are required:

Undistributed Retained Earnings and Retained Earnings, Error Suspense are always required.
Zone Payables and Zone Receivables are required only if you use zone balancing for your dimension 1 or for your accounting units.
These currency system accounts are required if you select a currency table and the Currency Translation and Revalue:
- Unrealized Gain
- Unrealized Loss
- Realized Gain
- Realized Loss
- Translation Gain
- Translation Loss
Auto Balance is required only If you use auto balancing for currencies
Inter Entity Payables and Inter Entity Receivables are required only if you create Inter Entity transactions.

Click Next. On the Calendar tab, specify this information:

Calendar: Specify a calendar name.
Calendar Description: Specify a calendar description that is used by the reporting basis and by the closing configurations that are associated with the accounting entities.
Close Configuration, Close Configuration Description: Specify a name and description for the close configuration, which determines the period closing. A close configuration requires calendar periods to be created for its period closing dates.
Default Period Name: Specify a name for the default closing period.
Start Year, End Year: Specify a start and end year for the close configuration.
Start Date: Specify a start date for the calendar.

Click Next.

The calendar is created using the information you have specified. Click Exit to close the form. The Finance Enterprise Group is created with the information you have specified.

Open your newly created finance enterprise group and create components for it.