Finance enterprise group components setup flow
After you create your finance enterprise group, you must create the components in this approximate order.
Required setup
| Component | Comments | Reference |
|---|---|---|
| Calendar | Your finance enterprise group can have multiple fiscal calendars. At least one calendar is required. Calendars are used by configurations and reporting bases | Calendars |
| Close configuration | A close configuration is required for accounting entities, which determines the period closing. A close configuration requires calendar periods to be created for its period closing dates. | Close configurations |
| Accounting entities | You must create at least one accounting entity for your finance enterprise group. You can create as many accounting entities as you require. An accounting entity requires a configuration close. | Creating an accounting entity |
| Accounts | Posting accounts are required to post transactions. You
can create your posting accounts before or after you create other
components, but they are required in all transactions. Posting accounts are assigned to one or more charts of accounts. |
Account setup |
| Chart of accounts and chart hierarchy | You can create as many charts of accounts as required.
One chart of accounts must be an enterprise account, which is used
in validations. A reporting basis requires a chart of account. You can also upload an entire chart of accounts hierarchy, including its associated accounts and sub accounts. |
Chart of accounts setup |
| Ledgers | You can create multiple user-defined ledgers that you will associate with your reporting bases. | Ledger setup |
| Reporting basis | You can create as many reporting bases as required by your organization for its customized reports. A reporting basis must have a calendar year, a chart of accounts, ledgers, and accounting entities. | Reporting basis setup |
Conditional setup
This setup is only required if your finance enterprise group includes these components.
This setup can be performed in any order.
| Component | Comments | Reference |
|---|---|---|
| Sub accounts | If you select the Use Sub Accounts check box on your finance enterprise group, you must create separate sub accounts. You must also create the sub account groups that are used to attach sub accounts to accounts. | Sub accounts |
| Accounting unit structures and hierarchies | If your finance structure includes accounting units, you
must create at least one accounting unit structure. The accounting
unit structure is automatically shared by all entities. You can
create multiple accounting unit structures. One must be designated
as the enterprise structure, which is the default accounting unit
structure on reporting bases. You must create an accounting unit hierarchy for each structure and accounting entity. If an accounting entity is flagged for zoning, then you must also define the zones for the accounting unit hierarchy. |
Accounting unit structures |
| Dimensions 1 through 10 | For each dimension that you create for your enterprise
finance group, you must create at least one dimension structure. You
can create multiple dimension structures for each dimension. One
must be designated as the enterprise structure that will be the
default value on the reporting bases. If dimension 1 is flagged for zoning, then you must also define the zones for the dimension 1 structures. |
Dimension structures |
| Projects | If your finance enterprise group includes projects, you
must create or interface the project structure. If your organization uses Project Ledger and you include projects in your finance structure, you must create at least one project structure. Additional alternate structures or views can be created. Project structures are shared across the finance enterprise group. One of the project structures must be designated as the enterprise structure. The enterprise structure is the structure for which structure relations and relation rules are defined. Relation rules are used to define the valid pairs for posting. For example, structure relation "accounttoproject" defines the valid accounts that can be used with projects. Each project structure must include a hierarchy that is similar to the accounting unit parent-child hierarchy. The lowest level in the hierarchy is the posting level. |
Project Ledger setup |
Optional setup
These components are optional:
| Component | Comments | Reference |
|---|---|---|
| Inter entity relationships | If you plan to create journal entries between accounting entities, then you must create inter entity relationships between the accounting entities that are involved. | Accounting entities |
| Accounting entity groups | You can group accounting entities so they can be processed together. For example, Revaluations, Translations, Update Next Year Balance on reporting bases. You can also create group accounting entities to batch processes like Journalize Recurring Journals, Close Period For Ledger, and Post Journals | Creating accounting entity groups |
| Posting categories | You can create posting categories and associate a posting category with multiple accounting entities for posting purposes. Posting categories are used so that accounting entities can be processed together. | Creating posting categories |
| Structure relations | You can create relations between components of your accounting structure. If you do, you must specify valid value pairs for each relation that you create. | Creating structure relations |
| Project structure validations | You can create valid dimension ranges for a summary project or a posting project only or in combination with another dimension, for example, accounting category. You can use project structure validations in addition to structure relations. | Project structure validation setup |