Fusion Applications: Accounting Hub Fundamentals Volume I Student Guide

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1 Fusion Applications: Accounting Hub Fundamentals Volume I Student Guide D75540GC20 Edition 2.0 May 2012 D77945

2 Authors Barbara Snyder Kathryn Wohnoutka Technical Contributors and Reviewers Ayse Aba David Barnacle Abhjit Dhakephalkar Julianna Dodick Kottresh Kogaili John Kolden David Haimes Bruce Ingram Carolyn Luk Claudia Nino Neil Ramsay Bernardine Rogers Gregory Roth Christine Rudd Johanna Rusly Mei Siauw Matthew Skurdahl Alison Wan Robert Zwiebach Copyright 2012, Oracle and/or its affiliates. All rights reserved. Disclaimer This document contains proprietary information and is protected by copyright and other intellectual property laws. You may copy and print this document solely for your own use in an Oracle training course. The document may not be modified or altered in any way. Except where your use constitutes "fair use" under copyright law, you may not use, share, download, upload, copy, print, display, perform, reproduce, publish, license, post, transmit, or distribute this document in whole or in part without the express authorization of Oracle. The information contained in this document is subject to change without notice. If you find any problems in the document, please report them in writing to: Oracle University, 500 Oracle Parkway, Redwood Shores, California USA. This document is not warranted to be error-free. Restricted Rights Notice If this documentation is delivered to the United States Government or anyone using the documentation on behalf of the United States Government, the following notice is applicable: U.S. GOVERNMENT RIGHTS The U.S. Government s rights to use, modify, reproduce, release, perform, display, or disclose these training materials are restricted by the terms of the applicable Oracle license agreement and/or the applicable U.S. Government contract. Trademark Notice Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

3 CONTENTS Lesson 1: Oracle Fusion Accounting Hub Course Overview... 3 Course Objectives... 4 Course Approach... 5 Oracle Fusion Accounting Hub Hands On Activities... 6 Oracle Fusion Implementation Resources... 7 Course Schedule... 9 Oracle Fusion Accounting Hub Overview Lesson 1: Objectives Oracle Fusion Accounting Hub Components The Oracle Fusion Accounting Hub Solution Scenario One: Accounting Integration Accounting Integration Process Scenario Two: Reporting Platform Reporting Features Analysis Features Spreadsheet Features Scenario Three: Accounting and Reporting Activity: Discuss Your Strategy Lesson 1: Highlights Lesson 2: Functional Setup Manager Overview Lesson 2: Objectives Getting Started in Oracle Fusion Applications User Interface Dashboard Work Areas Recent Items Overview of the Functional Setup Manager Implementation Overview Job Roles Implementation Task Flow Implementation Objects Overview Implementation Project Overview Implementation Project for Ongoing Maintenance Offerings, Options and Features Implementation Objects Task Flow Setup Data Export and Import Overview i

4 Export and Import Task Flow Browsing and Configuring Offerings Gathering Implementation Requirements for Offerings Using the Getting Started Page Functional Setup Manager Reports Overview Functional Setup Manager Reports Features Selecting Feature Choices Lesson 2: Highlights Lesson 3: The InFusion Story Lesson 3: Objectives Overview of InFusion Corporation InFusion Corporation Analysis InFusion Enterprise Structure Model InFusion Corporation Structure Diagram InFusion Enterprise Structure Mapping InFusion Chart of Accounts Summary Additional Considerations Lesson 3: Highlights Lesson 4: Common Applications Components Lesson 4: Objectives Define Enterprise Structures Configuring Enterprise Structures Overview Define Legal Jurisdictions and Authorities Legal Jurisdictions Overview Legal Authorities Overview Manage Legal Entities Legal Entities Overview Legal Entity Considerations Legal Entity Decisions Legal Entity Decisions Legal Entity Decisions Legal Entity Decisions Legal Entity Decisions Legal Entity Decisions Legal Entity Decisions Legal Entity Decisions Legal Entity Decisions Manage Legal Reporting Units ii

5 Legal Reporting Units Overview Define Reference Data Sharing Reference Data Sharing Overview Manage Reference Data Partitions Determinant and Determinant Types Reference Data Set Assignments Reference Data Set Examples Reference Group Knowledge Check: Reference Data Sets Knowledge Check: Reference Data Sets Answer Knowledge Check: Reference Data Sets with Business Units Knowledge Check: Reference Data Sets with Business Units Answer Lesson 4: Highlights Lesson 5: Financial Reporting Structures Lesson 5: Objectives Sharing Ledger Components Across Oracle Applications Accounting Configuration Prerequisites Define Chart of Accounts Identifying Business Requirements Identifying Segment Requirements Analyzing Reporting Requirements Creating a Worldwide Chart of Accounts Worldwide Chart of Accounts Example Creating Vertical Structures Designing Size and Numbering Systems Knowledge Share: Ledger Components Knowledge Share: Ledger Components Answer Creating Chart of Accounts Creating Chart of Accounts Components Define Value Sets Validation and Value Sets Building the Chart of Accounts Structure Assigning Segment Labels Knowledge Check: Chart of Accounts Knowledge Check: Chart of Accounts Answer Deploying the Chart of Accounts Defining Segment Values Assigning Segment Attributes iii

6 Control Accounts Example Defining Hierarchies Account Hierarchy Purposes Create Account Hierarchies Published Account Hierarchy Example Enabling Account Combinations Manage Segment Value Attributes Troubleshooting Segment Value Inheritance Define Cross-Validation Rules Manage an Accounting Calendar Accounting Calendar Considerations Calendars with Different Period Frequencies Adding a Calendar Year Calendar Auditing Manage Currencies Overview Currency Concepts Define Currencies Overview Currencies Overview Conversion Rate Types Overview Explain Cross Rate Rules Daily Rates Overview Currency Conversion Overview Currency Conversion Example Lesson 5: Highlights Lesson 6: Ledgers Lesson 6: Objectives Relevant Setup Tasks Ledgers and Accounting Configurations Define Ledger Components Manage Primary Ledgers Specify Ledger Options Balancing Segment Value Assignments Manage Reporting Currencies Reporting Currencies Conversion Levels Define Secondary Ledgers Secondary Ledgers Conversion Levels Secondary Ledgers Mapping Manage Ledger Sets iv

7 Review and Submit Accounting Configuration Balance Cubes Overview Balance Cube Dimensions Define Security Defining Segment Value Security Rules Segment Value Security Examples Segment Value Security Operators Data Access Set Security Data Access Set Security Example Knowledge Check: Data Access Set Security Knowledge Check: Data Access Set Security Answer Function and Data Security Job Roles Assign Data Roles Overview Secure Accounting Transformations Lesson 6: Highlights Lesson 7: Business Units Lesson 7: Objectives Configuring Business Units Overview Manage Business Units Business Units Overview Business Unit Definition Considerations Business Unit Hierarchy Example Lesson 7: Highlights Lesson 8: Period Close Components Lesson 8: Objectives Period Close Checklist Close the Subledgers Allocations Rule Sets and Components Journal Allocations Requirements Step Down Allocation Example Using Actual and Allocated Amounts Example Journal Allocations Concepts Journal Allocations - Best Practices Revaluation and Translation Translation and Remeasurement Solutions Revaluation and Translation Concepts Revaluation Overview v

8 Using Currency Conversion Levels Revaluation Example Translation Overview Historical Rates Revaluation and Translation Setup Importing Journal Entries Overview Journal Import Verification Process Reconciliation Reconciliation Concepts Knowledge Check: Reconciliation Knowledge Check: Reconciliation Answer Accounting Periods Overview Period Close with Oracle Fusion Accounting Hub Accounting Period Statuses Close Status Monitor Period Close Best Practices Knowledge Check: Open and Close Periods Knowledge Check: Open and Close Periods Answer Lesson 8: Highlights Lesson 9: Accounting Transformations Configuration Lesson 9: Objectives Accounting Transformations Overview Subledger Accounting Rules Overview Create Accounting Process Overview Relevant Setup Tasks Configuring Accounting Transformation Overview Register Source System Applications Overview Accounting Transformations Overview Accounting Transformations Flow Chart Accounting Transformations Steps Analyze Accounting Transformations Analyze Accounting Events Analyze Source Data Requirements Analyze Accounting Requirements for Events Define and Build Accounting Transformations Source Systems Overview Register Source Systems Source Systems Registration Considerations vi

9 Transaction System Setup Flow Define Events Information Accounting Event Model Overview Accounting Event Model Example Code Calls to the Accounting Event Capture Routines Define Transaction Objects and Write Programs Transaction and Reference Object Requirements Transaction Objects and Sources Create and Assign Accounting Sources Sources and Source Values Revise Source Definitions and Assign Accounting Attributes Manage Accounting Attributes Assignments Manage Transaction Objects Manage Reference Objects Create Accounting Process Integration Create Accounting Integration Overview Implement and Test Accounting Transformations Define Accounting Methods Perform Testing Manage Accounting Rules Manage Accounting Methods Accounting Method Best Practices Manage Subledger Journal Entry Rule Sets How the Different Types of Rules Fit Together Journal Header and Line Level Accounting Rules Subledger Journal Entry Rule Set Example Journal Entry Rule Sets Implementation Notes Manage Journal Line Rules Journal Line Rules Implementation Notes Defining Conditions Manage Mapping Sets Mapping Sets Implementation Notes Mapping Sets Best Practices Manage Account Rules Account Rules Implementation Notes Account Rules Best Practices Defining Account Rule with Conditions Example Manage Description Rules vii

10 Manage Description Rules Example Description Rules Implementation Notes Manage Supporting References Supporting References Implementation Notes Supporting References Best Practices Activate Subledger Journal Entry Rule Sets Define Accounting Methods Considerations Create and Process Subledger Journal Entries Creating Transactions Migrate the Accounting Transformation Configuration Lesson 9: Highlights Lesson 10: Intercompany Processing Rules Lesson 10: Objectives Relevant Setup Tasks Configuring Intercompany Intercompany Overview Intercompany General Ledger Integration Intercompany Receivables and Payables Integration Intercompany Key Features Manage Intercompany Transaction Processing Manage Intercompany System Options Intercompany System Options Key Decisions Manage Intercompany Transaction Types Manage Intercompany Period Status Manage Intercompany Organizations Intercompany Organizations Key Decisions Intercompany Organizations Implementation Notes Intercompany Organizations Implementation Notes (cont'd) Define Invoice Options Manage Customer and Supplier Assignments Customer and Supplier Assignments Implementation Notes Manage Intercompany Receivables Assignments Intercompany Receivables Options Implementation Notes Define Transaction Account Rules Transaction Account Builder Components Intercompany Balancing Manage Intercompany Balancing Rules Precedence Order of Balancing Rules viii

11 Using Chart of Accounts Rules for Intercompany Balancing Intercompany Balancing Rules Key Decisions Intercompany Balancing Rules Key Decisions Continued Manage Ledger Balancing Options Ledger Balancing Options Implementation Notes Intercompany Reconciliation Reconciliation Reports Intercompany Challenges Lesson 10: Highlights Lesson 11: Financial Reporting Lesson 11: Objectives Oracle Fusion Accounting Hub Reporting Overview Reporting and Analysis Tools to Fit Your Needs Financial Reporting Center Components Integrated Access to Live and Prepublished Reports Financial Reporting Studio Features Financial Reporting Center versus Workspace Smart View Features Configure Smart View Financial Reporting versus Smart View Account Monitor Features Account Inspector Features Create Financial Reports Report Components Report Designer and Property Sheet Grids Basic Steps Designer Toolbar Defining Points of View Selecting Members Defining Formulas Reviewing a Report Report Security Report Distribution Oracle Transactional Business Intelligence Best Practices Financial Reporting and Analysis Lesson 11: Highlights ix

12 Lesson 12: Applications Coexistence Configuration Lesson 12: Objectives Integration with E-Business Suite Overview Relevant Setup Tasks Integration Features Register Applications Coexistence Instances Coexistence Configuration in E-Business Suite Calendar Mapping Chart of Accounts Mapping Perform Balance Transfer Integration with PeopleSoft Overview PeopleSoft Relevant Setup Tasks Integration Pages Summary Account Type Mapping Value Set Mapping Journal Transfer Mappings Register Applications Coexistence PeopleSoft Instances Transformation Stage Chart of Accounts Synchronization with DRM DRM Feature Summary Implementation Concepts DRM Terminology DRM and Oracle Fusion Accounting Hub Example Create DRM Versions Complete DRM Version Properties Initialize DRM with EBS Values Import EBS File into DRM for Initialization DRM Hierarchy Load EBS Segment Values and Accounts Load Oracle Fusion Account Values and Hierarchies Key Decisions and Best Practices Lesson 12: Highlights Lesson 13: General Ledger Options Lesson 13: Objectives Manage Suspense Accounts Manage Statistical Units of Measure Sequencing Options Manage Document Sequences x

13 Document Sequencing Types Knowledge Check: Document Sequences Knowledge Check: Document Sequences Answer Manage Accounting and Reporting Sequences Accounting and Reporting Sequences Configurability Accounting and Reporting Sequences Setup Manage Journal Sources and Categories Manage Journal Approval Rules Journal Approval Rule Considerations Journal Approval Hierarchies Manage AutoPost Criteria Sets Manage AutoReverse Criteria Sets Manage Profile Options Manage Processing Schedules Lesson 13: Highlights Lesson 14: Consolidations Lesson 14: Objectives Consolidation Methods Reporting Only Consolidation Method Balance Transfer Consolidation Method Reporting Only Versus Balance Transfer Elimination Entries Consolidation Example Reporting Consolidation with Multiple Levels Elimination Level One Example Elimination Level Two Example Elimination Level Two Example Part II Financial Management Integration Option Mapping Segments to Financial Management Dimensions Configure ERP Integrator Lesson 14: Highlights Lesson 15: Budgeting Lesson 15: Objectives Budgeting and the Oracle Fusion Accounting Hub Budgeting within the Oracle Fusion Accounting Hub Budget Scenario Dimensions Integration with Hyperion Planning Configure ERP Integrator for Hyperion Planning xi

14 Implementation Considerations Lesson 15: Highlights Course Highlights Lesson 16: Appendix Appendix Content Define Flexfields Flexfield Concepts Value Sets Descriptive Flexfields Extensible Flexfields Extensible Flexfield Example Key Flexfields Tips for Managing Key Flexfields Flexfield Implementation Flow Flexfield Reference Resources Define Lookups Key Concepts Manage Lookups Manage Storage Parameters Run Optimization Define Financial Reporting Center Configuration Define Essbase Database Connections in Workspace Specify Workspace Profile Options Configure Financial Reporting Studio xii