Initializing Account Balances in Reporting Sets of Books (Multiple Reporting Currencies in Oracle Applications Help)


	Previous	Next		Contents	Index	Glossary	Library

Initializing Account Balances in Reporting Sets of Books

You must initialize the beginning balances in your reporting sets of books before you can inquire and report on account balances in your reporting currencies. The steps in this section explain how to initialize your account balances. Throughout these steps we use the following terms:

First MRC Period: The first accounting period for which you want to be able to report transactions and balances in your reporting currencies. You must enable MRC and initialize your reporting sets of books' beginning account balances before the first MRC period.

Initial Period: The accounting period preceding the first MRC period.

Note: During the process of initializing account balances in your reporting sets of books, you should not post any new journals.

Step 1 Post in the Primary Set of Books

We recommend that you post all outstanding transactions in your primary set of books at the end of the initial period. This includes posting:

(For Upgrade Scenarios 2 and 3) All subledger transactions to General Ledger.

Caution: Do not enter any new transactions in subledgers that support MRC until you complete setting up MRC.

All journals in General Ledger.

Posting all outstanding transactions and journals ensures that the ending account balances in your primary set of books are up to date.

Step 2 Close the Initial Period in Primary Set of Books

In General Ledger, close the initial period in your primary set of books to ensure that new transactions will not update the account balances.

Step 3 Open the Initial Period in Reporting Sets of Books

Before you initialize account balances in the next step, make sure you have opened the initial period in General Ledger in your reporting sets of books.

Step 4 Initialize Balances

You can use several methods to initialize the balances in your reporting sets of books:

Translation & Consolidation:

Import Beginning Balances:

Manual Journals:

Enter Journals window to manually enter your beginning balances.

If you decide to use the translation and consolidation method to initialize your reporting sets of books' account balances, complete the three steps below for each reporting set of books:

Run General Ledger's Translation feature to convert balances from your primary functional currency to the appropriate reporting functional currency.

Suggestion: For convenience, you can translate your balances to all of your reporting currencies at the same time.

See: Translating Balances

Global Consolidation System to consolidate the translated balances from your primary set of books to your reporting set of books.

See: Global Consolidation System

3. Post Consolidation Journals in your reporting set of books.

Posting the consolidation journals updates the balances in your reporting set of books.

See: Global Consolidation System

Step 5 Close the Initial Period in Reporting Sets of Books

Close the initial period in your reporting sets of books. This is necessary before the initial period's ending balances can be used to create the beginning balances of your first MRC period.

Step 6 Opening the First MRC Period

For General Ledger, open the first MRC period in both your primary and reporting sets of books. This will automatically create your beginning account balances for the first MRC period.

In your subledgers that support MRC, open the first MRC period only in your primary set of books. The same period will be opened automatically in your reporting sets of books.