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    Saurabh Singhal
    Three balancing segments in Cloud Fusion FinancialsAnswered
    Topic posted February 17, 2016 by Saurabh SinghalGreen Ribbon: 100+ Points, last edited January 30, 2019, tagged General Ledger 
    396 Views, 7 Comments
    Title:
    Three balancing segments in Cloud Fusion Financials
    Summary:
    Three Balancing Segments
    Content:

    Hi,

    Would like to understand regarding three balancing segments in Cloud Fusion Financials.

    Whether is it mandatory to assign Legal Entity with first balancing segment.

    Any pointers on this shall be appreciated.

    Regards,

    Saurabh Singhal.

    +91 - 8884111518.

    Best Comment

    Linda Wong

    Hi Saurabh,

    If you are using the Intercompany module to enter intercompany transactions across multiple ledgers, then it is mandatory to assign legal entity to the primary balancing segment.  If you are only balancing journal lines within a journal in a single ledger (intercompany balancing feature in General Ledger and Subledger Accounting modules), then you don't need to assign legal entity to the primary balancing segment.

    Linda

    Comment

     

    • Linda Wong

      Hi Saurabh,

      If you are using the Intercompany module to enter intercompany transactions across multiple ledgers, then it is mandatory to assign legal entity to the primary balancing segment.  If you are only balancing journal lines within a journal in a single ledger (intercompany balancing feature in General Ledger and Subledger Accounting modules), then you don't need to assign legal entity to the primary balancing segment.

      Linda

    • Uma Pachipala

      Hi Saurabh,

      Just interested to know "Why you are contemplating weather to add an LE to Ledger or not?" Any detail you can share would be great.

      The reason why am asking this is , Generally you link to LE to Leddgers. Apart from Intercompany transactional requirements, this linkage will enable to run reports at LE level. so just curious to know whats going on with you.

      Uma 

       

       

    • Arsalan Khawaja

      Hi - How can I assign secondary balancing segment to Ledger?

      Scenario - We have 2 balancing segments(Primary and Secondary) and using 1 ledger only and when we uploaded Rapid Implementation sheet, system automatically assign Primary Balancing segment(which is Legal Entity) to ledger, that makes me think I should also have to assign secondary balancing segment to ledger as well but cant find a way to do it under "Assign BSVs to ledger" task?

      We are in configuring phase so have not start transacting.

      Arsalan Kh

    • Linda Wong

      In the Rapid Implementation spreadsheet, if you selected the "Second Balancing Segment" segment label for the appropriate segment, then the setup is complete.  You do not have to assign the segment to the ledger because the chart of accounts is already assigned to the ledger.  You can navigate to Functional Setup Manager, Manage Chart of Accounts Structures task, find your chart of accounts structure, select the appropriate segment and check the segment label.

    • Arsalan Khawaja

      Thank you so much, I confirmed the segment is properly labeled as "Secondary Balancing Segment" in COA structure.

      Do I need to do any additional setup to make balancing segment work? Like setting up some account rules which generate auto entries to make debit=credit for that segment, everytime it is used in transaction Or No?

       

    • Linda Wong

      Yes.  See "Manage Intercompamy Balancing Rules" and "Manage Secondary and Clearing Company Balancing Options":  http://docs.oracle.com/cloud/latest/financialscs_gs/FAIGL/FAIGL1453212.htm#FAIGL1592955.

    • Arsalan Khawaja

      Perfect, Thanks!