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Chart of Accounts in Oracle Fusion

Oracle Financials Cloud

Table of Contents

Creating Chart of Accounts

Demo

Introduction

Chart of Accounts (CoA) in Oracle Fusion Cloud allows to create multi-dimensional combinations. Each of these dimensions is called as Chart of Accounts Segments. 

Example: You have the following 3 segments

1. Company:
Sample Value – 20 GOOGLE SERVICES
2. Department:
Sample Value – 110 Finance
3. Account:
Sample Value – 20110 Revenue Account
 
In this scenario account combination 20-110-40130 means it is an Expense on Airfare is incurred for Department – Finance for Company – Google Services

CoA Value Sets

Chart of Accounts Value Sets hold the value set values. You will define here the characteristics of these value set values. For example: Whether the values in this value set will be in text / number / some other format, What will be the maximum length of these values etc

You can define the CoA Value Sets from the task “Manage Chart of Accounts Value Sets” task as shown in the video

CoA Structure

Chart of Accounts Structure will bring together all the value sets that you want in your CoA. In the CoA Structure you create Flexfield Segments to map your value sets with the relevant Segment Labels

Example: In our introduction section we had 3 segments namely Company, Department and Account. In this scenario we will create 3 Flexfield Segments for our CoA Structure (1 for each value set) and map segment labels as mentioned below

Company – Primary Balancing Segment

Department – Cost Centre

Account – Natural Account

CoA Structure is defined in the task “Manage Chart of Accounts Structure”

CoA Structure Instance

Chart of Accounts Structure is a new feature in Oracle Fusion. This was not present in EBS. CoA Structure Instance lets you define the following

  1. Segments in your CoA Structure to be Displayed
  2. Segments in your CoA Structure are Required
  3. Defaulting Rules

Multiple Instances can be defined for one CoA Structure

Define the CoA Structure Instance from the task “Manage Chart of Accoutns Structure Instance”

CoA Deployment

Compilation in EBS is replaced by Deployment of Chart of Accounts in Oracle Fusion. The Deploy Flexfield button will deploy all the Chart of Accounts in the System (In EBS One CoA was complied at a time)

CoA Value Set Values

Once the deployment is complete, you can start entering values in the value sets. You can populate the values manually or you can Import the CoA Values using FBDI.

Values can be entered in the Value Sets from the task “Manage Chart of Accounts Value Set Values”

Importing CoA Values & Hierarchies

Oracle Financials Cloud

Demo

Introduction

There are a large number of values in a CoA and these values are structured in complex hierarchies for reporting / budgeting etc purposes. Populating this information in the instance manually is not possible. To make this easy, Oracle has provided templates for importing these values and hierarchies with significantly lesser effort

Download Templates

Download the Import Segment Values and Hierarchies template. 

Prepare Values

From the task “Manage Account Hierarchies” create a new blank hierarchy and create a tree version in this newly created hierarchy.

After creating the hierarchy and blank tree version, populate the required values in the template downloaded in step-1.

 

In this template:

Sheet-1 is for instructions and CSV generation.

Sheet-2 is for defining the values and the relevant details for that value that you want to import.

For example: Value 10110 – Account Type is Asset – Posting and Budgeting is allowed – Summary Flag is unchecked – description is Building

Sheet-3 is for defining the Hierarchies

For example: Parent-1: Assets, Parent-2: Land, Child: Leasehold Land

Once you have populated the template as required, click the “Generate CSV” button in sheet-1 and save all the files on your desktop

Import CoA Values and Hierarchies

For imports through FBDI, keep in mind the following sequence:

  1. Go to “File Import Export” from the Navigator
  2. Upload the relevant ZIP file in the appropriate UCM account
  3. Go to “Scheduled Process” from the Navigator and select the process “Load Interface File for Import”
  4. Choose the relevant import process and select your data file (.ZIP file) from the list of values. Submit the process

Verify the Import

Values:

From Setup and Maintenance work area, go to the task “Manage Chart of Accounts Value Set Values” select the relevant Value Set and click on “Manage Values”. On the next screen click “Search”. All the values should display

Hierarchies:

Go to task “Manage Account Hierarchies”, query and select your Tree Version. On the next screen, click “Search”. Your hierarchy should be displayed as defined

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