Assumptions
Replace XX with your terminal number or unique number.
You must have access to an Oracle Application Vision database or comparable training or test instance at your site on which to complete this practice.
Tasks
Define a Legal Entity
1. (N) Setup > Financials > Accounting Setup Manager > Accounting Setups.
2. (B) Create Accounting Setup
3. (B) Create Legal Entity
Territory = You choose
Legal Entity Name = XXVision Corporation
Organization Name = XXVision Corporation
Legal Entity Identifier = XXSYS1000
EIN/TIN = XX1234567
Registration Number = You choose
Transaction Entity = Yes
4. Create a New Address = Selected
You choose the address
5. (B) Apply
Assign a Legal Entity
6. (B) Add Another Row
Legal Entity = XXVision Corporation
7. (B) Next
Define a Ledger
| Name | Chart of Accounts | Accounting Calendar | Currency | Subledger Accounting Method |
| XXLedger | XXAccounting Flexfield | XXAccounting | USD | Standard Accrual |
8. (B) Next
Set Up Ledger Options
9. (B) Define Accounting Options
10. Locate the Ledger Options setup step and select the Pencil Icon to update
First Ever Opened Period = Dec-XX (where XX is last year)
Future Periods = 2
11. (B) Next
Retained Earnings = 01.000.3310.00
Suspense Account = 01.000.2990.00
Rounding Difference Tracking Account = 01.400.7990.00
Cumulative Translation Adjustment Account = 01.000.3500.00
12. (B) Next
13. (B) Next
14. (B) Finish
15. Ensure the status has a green checkmark indicating the setup step is complete.
Set Up Reporting Currencies
Locate the Reporting Currencies setup step and select the Pencil Icon to update
16. (B) Complete
17. Ensure the status has a green checkmark indicating the setup step is complete.
18. (B) Complete
19. (B) Yes to acknowledge the warning message
20. Close windows until you are back at the Navigator
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