Thank you so much  Ashish

I really appreciate your quick and elaborate response..  

Warm Regards
Ranganathan


From: Apps2Fusion Discuss [mailto:discuss@apps2fusion.com]
Sent: Friday, June 24, 2016 5:25 PM
To: ranganathang@karyatech.com
Subject: [#606]: New reply added - EBS R12 Financials Self paced Training - Batch 1 - Day 1 Video

Oracle Training Experts
Ashish Jhamtani replied to the discussion EBS R12 Financials Self paced Training - Batch 1 - Day 1 Video
1. In a ledger set what will be the final currency after consolidation if the child ledgers have different currencies.

Ans –
First of all, the concept of Consolidation and ledger set is different. So don’t get confused and mix the two.
When you are defining ledger set, it doesn’t means you are consolidating the data of all the ledgers. It only means you are creating a group of ledgers. Basically it is used to perform tasks for multiple ledgers together. Each ledger in the group should share the same chart of accounts and calendar/period type combination. Each ledger will have its own functional currency. Ledger sets allow you to run processes and reports for multiple ledgers simultaneously.

For example, you can open/close periods for multiple ledgers at once, Run recurring journals that update balances for multiple ledgers, or run consolidated financial reports that summarise balances across multiple ledgers in a ledger set(only for reporting). You can group all types of ledgers in a ledger set, such as primary ledger, secondary ledgers, and reporting currencies (journal and sub ledger levels), as long as they share the same chart of accounts and calendar/period type combination. The same ledger can belong to multiple ledger sets, and ledger sets can contain other ledger sets.

2. Multi-organisation session.- Designed StructureWhat will be the impact if the accounting period are different for child OUs. .. How does consolidation happen at the ledger set

Ans-
Concept of consolidation and ledger set are different as I told earlier.
Accounting period is defined at ledger level and not at OU level. All the OU’s in the ledger will have the same periods.
However, when you are consolidating the data for multiple ledgers. GL module doesn’t works at OU level, it works at ledger level. Consolidation in GL takes care of the different periods types in multiple ledgers. You just have to tell the system while running the consolidation that what is the target period.

For example, the source ledger periods are defined monthly and the target ledger periods are quarterly. So, at the time of running the consolidation after you have defined the COA mapping, you have to select in which period the data should go to. So Jan, Feb, Mar periods in Source ledger will be transferred to Quarter 1 in target ledger.

3. Why do we need to set a calendar (standard) for inventory org setup. Can the accounting calendar not be used.

Ans -
The calendar you have defined in GL cannot be used in inventory org setup. You have to define a separate workday calendar in Inventory module first and then you can use that in the Inventory org setup.

4.Day 1 - Video progress bar :Hr 3.20. + /- 1minute -Why do we have to define HRMS employee flex-field set up as a mandatory step for Business group definition.

Ans-
There are some common setups that need to be mandatorily defined in order to work in the application. There is a concept of shared entity, which means most of the data in Oracle apps defined in one module is shared by other modules as well.
In order to setup our multi org it is mandatory to define a business group. And in order to complete our business group setup step we need to define the Flexfields for business group. These Flexfields are defined by HRMS consultants. But if we are not implementing HRMS and we are implementing only financials. Then the financial consultants need to define the business group, with the already existing flex field structures.

5. Can I define the same company as a Balancing segment and an inter-company segment

Ans-
Yes you can. You can define one value set, and can use that value set for both company and inter company segment.

6. Video progress bar :Hr 3.54 : Intra company is clarified as transactions within the Same Legal Entity i.e. If we have two companies defined with in the Legal entity. Inter company is clarified as transactions across the Legal entity How can we define two companies with in a single Legal entity. Does company here mean Operating unit (OU)

Ans-
No, company here does not means Operating Unit. You can define n number of companies pointing to one legal Entity.
For example – you have one legal entity. And you have 2 companies. You can assign both of them pointing to one LE.
You can select multiple Balancing Segment Value’s for a same Legal entity.

7. Video progress bar : Hr 3.55 -59 mts Why is it mentioned that it is not mandatory but advisable to have a location mapped to OU for AP tax purpose. Should any OP not have a location?

Ans-
It is not mandatory but advisable because, your taxes may vary from place to place or from one location to another. For one state the rates may be different and for another it may be different. However it is not mandatory, if you are not calculating taxes.

Thanks
Ashish

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