I'm trying to create GL Ledger in R12, I've created Value sets with values, Accounting Flexfield and assigned segments to the Accounting Flexfield and compiled.
In the Accounting Setup Manager, I defined Legal entity and gave the Ledger Name, Structure, Currency, Calander and assigned Legal Entity.
In the Accounting Options i'm not able to see Retained Earnings field. This is the first time using R12. I missed any step or did wrong.
Ramesh, Retained Earnings Account get's defined under the tab "Year End Processing". This tab is located under the Ledger Options. This is the same form where you define other things like Supspense Account,CTA etc. Hope this helps. Regards
You are probably testing using the solutions beacon R12 instance. There is a problem in that instance which I haven't figured out what it is. When you compile your flexfield the message comes up indicating that the flexfield was successfully compiled. however if you go to see your requests, you will see that it did not in fact compile and it seems that the program is unable to compile any of the COA in GL. For this reason when you are setting up your ledger you do not get the next button to get to the year end processing tab and entering the Retained Earnings account and the rest of the Ledger setup that is required.
I ran into this problem with the SB R12 instance and was unable to find any in metalink to help me solve this. But I think there may be some data corruption or something else with that specific instance.
Follow the below mentioned steps, I think you will get your answer
1. Define Accounting Option
2. Click on the Define Accounting Option (B)
3. Click on the Add Legal Entity (B)
4. Click on the Add Legal Entity (B) once again
5. Search for your Defined Legal Entity
6. Click on the Go (B)
7. Select the Legal Entity and click on select (B)
8. Click on the apply (B)
9. Now you move to Next Region that is Primary Ledger Set Up
10. The First Step is the Ledger Option so to update these options, check the status which is in progress. (Like it show the watch)
11. Click on the pencil on the update field
12. Provide any info if you want to update and click on the Next (B)
13. Search Retained Earnings Accounts
14. If no combination found click on the Create (B)
15. After pressing Create (B) , Click on the Search (B), the combination will appear, Select the Combination and click on Select (B)
16. Provide the info if you want to update and click on Next (B)
17. Enable Check box of Enable Journal Reconciliation
18. Provide the info if you want to update and click on Next (B)
19. Review the info and if everything is correct click on Finish (B)
20. The Status is now complete of the First Step, that is Primary Ledger
21. After this you need to complete the Reporting Currency (if any), Balancing Segment Value Assignment, Sub Ledger Accounting Options, Operating Unit and Sequencing.
Let me know if you are not able to create the Retained Earnings. You can reach me @ shiv.dey@gmail.com
Do you know of any other public R12 Vision instance? I have been playing in the SB instance for a while but there are a lot of errors on it and SB does not maintain the website or provide a forum to report errors to correct.
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