GL SETUP STEPS

GL SETUP STEPS
Sr No	Step No	Step Description	Purpose	Set Up Path	Prerequisites	\Mandatory	Optional
1	1	Define Accounting Calendar	To define Accunting Calendar and to decide whether it has to be fiscal or yearly and also  whether to have12 or 13 periods.	General Ledger-> Set Up-> Calendar ->Types	N/A	Yes
2	2	Define the Periods	Define the accounting periods for organization which is generally monthly.	General Ledger-> Set Up-> Calendar ->Accounting	Step 1	Yes
3	3	Enable the Currencies	To enable currencies the organization will use	General Ledger-> Set Up->Currencies-> Define	N/A	Yes
4	4	Chart Of Account Segemnt Definition	To enable COA segments for the organization. This will be done after discussion with client	General Ledger-> Set Up->Finacial->Flexfields-> Key-> Segments	N/A	Yes
5	5	Assign Values to COA Segments	To give value to the COA segemnts defined.	General Ledger-> Set Up->Finacial->Flexfields-> Key-> Values	Step 4	Yes
6	6	Define Legal Entity, Ledger and Operationg Units	To define Legal Entity, Ledger and Operating Units for the organization.	General Ledger-> Set Up->Finacials->Accounting Set Up Manager->Accounting Set Ups	Steps 1 to 5. Also Business Group has to be defined from Inventory module and Sub Ledger accounting rules from any sub ledger.	Yes
7	7	Define Journal Source and categories	To define new journal source and categories	General Ledger-> Set Up->Journal-> Sources	N/A	No	Yes
8	8	Define Budget	To define budgets for the organization if organization uses budgeting	General Ledger->Budgets-> Define	Steps 1 to 6	No	Yes
9	9	Define Consolidation	To define Consolidation if organization has got operation in different countries	General Ledger->Consolidation-> Define	Steps 1 to 6	No	Yes
10	10	Define Account Aliases	To define account aliases depending upon organization needs	General Ledger->Set Up->Financials->Key->Aliases	Steps 1 to 6	No	Yes
Note:- For step no 6, once we start setting it, there are different options and controls like Journal Approval Workflow.