Subledger Accounting | Creating a Journal Entry Rule Set

Subledger Accounting | Creating a Journal Entry Rule Set


[music] Hello my name is Barbara. In this tutorial I’ll show you how create a journal entry rule set. To determine how a balanced journal entry will be generated for an event class or type: First, define a sub-component rule. And then, associate the rule with a particular event class or type in a journal entry rule set. The journal entry rule set determines the debit and credit accounts, accounting date, descriptions and additional supporting references. Let’s begin by navigating to the Setup and Maintenance work area. I’ll use the FAH implementation project. Now, I’ll go to the Manage Journal Entry Rule Set task. I’ll enter the journal entry rule set name . . . and a short name. I’ll enter the event class, event type, and chart of accounts. In the Journal Entry region, I’ll select a description rule. In the Journal Lines region, I’ll add a new line. I’ll enter the Line Type, Journal Line Rule, and Account Combination Rule. Now, I’ll select the Line Description Rule. I’ll add a new line and populate the Line Type, Journal Line Rule, and Account Combination Rule. I’ll assign the cost center segment rule to override the same segment of the account combination rule. Now, I’ll assign a supporting reference for this Loan Receivables journal line. Let’s activate our journal entry rule set. Now the status is Active. We’re done with our journal entry rule set! Thank you! [music]

Leave a Reply

Your email address will not be published. Required fields are marked *