In last video we are going to define primary ledger. In this video we are going to discuss about opening or close periods and the creation of Genesis creation of Genesis. Last video we define the company primary ledger. The ledger is there comprising of places Chart of Accounts currency under color. Underneath we defined our primary ledger Okay. Now, after defining the primary ledger with help of the primary ledger we are going to define that journal entries we are going to create that journal entry but it's a journal a journal is a comprising of two lines one is a debit line and the second one is the credit line.

Okay, the journal is a comprising of two lines. The first one is debit line and second line Mr credit line so, what is a debit what is a credit means according to the accounting rules some lines becomes debit some line becomes that credit means according to the accounting rules already we discussed the accounting rules right what comes in debit what goes out credit all expenses losses are the debit all incomes and gains are their credit in the journal we are going to rise different type of journals Okay, there is a different type of journals into their GL module like one is the standard journals. Second one is a suspense journals. Third one is recurring journals. And fourth one is that reverse journals budget generous okay. foreign currency journal there is a different type of generals out there.

If you want the rise anyone journal compulsory we need a primary lecture. Why because if you want to rise, we require the ICANN meeting. Clear the currency really clear the calendar calendar means very clean which date we are going to rise the generals we request the dates we declare the periods the periods are within the calendar right? compulsory we require all the three senses okay all the traces are assigned to the primary ledger with help of the ledger we are going to define the journals okay. Before going to rise the journals first we need to open the accounting periods. What is the period period is nothing but a month.

A month is these components enough minimum one day maximum is 31 district period is saved. in Oracle Application the month we call as a period. The period is a compressing of minimum one day maximum is 31 days. Salary we defend our calendar that is a fiscal calendar. The fiscal calendar starts from first to January and Ninja 31st of December now we are in the current period as much period from March onwards we are going to define the transactions if you want to define the journal entry today in March 20 compulsory we need to create that we need to open the accounting period March accounting period but our physical year starts from January onwards right without without opening the prayer periods we cannot create the transaction directly in the month of March. Okay, so Muslims should open the periods from January to March and directly we'll create a transaction same match.

Okay, so first before going to rise the generals first we need to open the accounting periods. Go to opening period first open the period from January to March and then created transactions directly in the month of much quicker So now select login to the application. So go to select the GL responsibility. Okay, so now what does log into GL? Now I want to open the period in the month of March and now I want to open the periods in my calendar. Okay, so before going to opening first I'm going to sign in the primary ledger to the responsibility level when allowed into the GL module.

So maybe display some other Ledger's are open setup open or close it display some other ledger. This is not our ledger, like our ledger is a test ledger. This is not our ledger. Our ledger is a test ledger. Now we are going to sending over ledger to the GL account. How to assign means which help up the profile options.

So because the each and every company maintain their one ledger, if you want to use your ledger compensated you need to assign the ledger to the GL how to assigning these with help of the profile options. Actually in the real time the profile options are attached by the DB. In the real time the profile options are attached by their dB, okay with the help of them, System Administrator responsibility. Okay, so now this is a vision database right directly you can log into the system admin and then assign that profile options Okay. Now go to the File switch responsibility. Select the system administrator.

Okay, actually profile option sir. By default the Oracle Application providers standard profile options. So whenever we assign the profile option Application behavior is changed. Approximately Oracle Application provided 5000 profile options Okay, standard profile options, we cannot change the profile option we cannot create a new profile options also we cannot customize and we cannot create the new profile options. Okay, by default, all the standard profile options are given by the Oracle we must should use that profile options to assigning that you are set up to the system. So, if you want to assign the profile options, you must learn to log into the system administrator responsibility.

Okay, after log into system admin then no to the navigation profile system. Go to the navigation profile system. Now select the application application as a general ledger and the responsible This what responsibility Are you using to log into the GL is the general ledger vision operations you Yes, yeah right. So, it is a standard responsibility of the GL go to select that responsibility General Ledger Mission Operations you Yes Here it is a standard responsibility of the G and come to the profile option What is the name of the profile option GL ledger profile option, this view the prefix and in percentage GL ledger profile option. Go to find now here in the responsible development there is a some other ledger is there. Now we are going to work this ledger.

Okay. Now we'll assign our ledger to this responsibility level. Okay. And after assigning them go to save transaction complete one record upload and sale. Okay, then close it. Again go to log into the GL after assigning the responsibility to our primary ledger, again log in to the GL, go to File Transfer, select the general ledger General Ledger vision operations you Yes, okay.

Okay, after that now go to before going to rise agenda. First we need to create a basis we need to open the accounting periods. The navigation is set up, open and close. The navigation is set up Open up close. Now you will get to a ledger here test measure the status of period is any and go to find. Okay, now you want to open the January period in our ledger.

Yes, the first period in our ledger is January video right now go to open because now we are in the march but before opening the prayer periods we cannot create the transaction directly in the month of March okay now we are in that February March right. So now we are going to opening the periods from January to March only why because without offering the prior periods we cannot create a transaction directly in the month of March okay this is normally open the periods from January to March you have to create a transaction From today onwards. Okay. Are you sure you want to open the first period in our ledger? Yes. Okay, now here when Stan section program is running, one concurrent program is running for opening the period into the GL module.

Whenever we open any period, compulsory one standard program is done. The program ID is 5417 h6 Okay, let us see whether this program is successfully completed or not. If this program is successfully completed our period is open successfully okay and same I want to go to open the second period also same setup open or close okay status is any find now what to select the open period already we will find right we will find the generator okay let us go to see that repeated program completed okay okay now the January period is completed okay Then go to open period now open the February period February Yes. Are you sure you want to open the target period? Yes. Okay but my program is done.

Again click on Open period and go to select that much open period Yes. Now one more program is done. Now let us go to see these two programs because I want to open the period much much from January to March and so, okay go to request sign. Okay. refresh it now. The videos are completed.

Close it okay let us see setup open and close fine now three months period are open January February March okay after completing the march Mustang should open the period April also because if you want to define any transactions in the month of April before going to create a transaction open a period okay so Mustang should if you want to raise any journal Mustang should the periods are in open status it's a mandatory okay after completing the year total one year then you have to close the period okay After completing the physical yet compulsory before going to next year, you must and should close the periods okay so now I will pretty much be dead okay after that go to rise there then Atlantis there is a different type of genocide there first I'm going to raise the standard agenda what is a standard gentleman's the standard generally is comprising of the two lines one is the debit line and second one is that credit line Okay, the standard general comprising of the two lines one is the debit line and second line second line is accredited and always the amount is same for two lines but the length the amount is the same.

Okay this type of the lead recognizance Chandra gentleman, okay, you can raise a different type of the standard general suppose whenever we pay the rent or whenever we pay the salary, or whenever we received any interest What whenever we do the purchases whenever we do the sales okay? So the journal entry is mandated go to create two lines and the amount of the two lines same Okay, so how to rise a journal entry when the navigation is journals and after opening the period go to create transactions journal entries one by one. The down navigation is journal and journal entry okay this is a journal from here select the new journal select the new journal select the new journal This is a journal line this is a journal line. So in the journal window This is okay so here it contents are two types of information one is the header information second one is that line in permission okay in the head that you will get over default the ledger in formation we will examine and this standard period is March period and the effective date is today's date and this is your currency currency as Diana okay so you will get Oliver three pieces of details like a ledger name and your currency the calendar periods are coming from your calendar okay so when I go to lines you were accounting information is also in this chart of accounts information is also displayed okay if you want to rise the uneven journal compulsory we need all the three C's information okay now it asked him to generally go to enter the journal name enter any name the gentleman is purely user defined.

You can enter any me suppose I entered this is a rented journal. Enter the journal name as well and the journal Okay, and the description is not mandatory. And this is your Jenner journey and period of current period is a match period and effect to date is today's date and now today we are going to write the journal entry March 25. And what currency are using INR test and our current so this is our functional currency right? Okay, this is the header information, okay and the go to the lines. So lines means one channel comprising of the two lines, the first one is a debit line and second one is the credit line.

Okay, so the first one is a debit line and go to select the cord combination of debit. What is the core combination of debit line got to click on the icons, it displays all your segment. Now go to Select the segment go to combinations. Now go to select data segment core combination. What is your company? Our company is a 01 company and what is a department so venomous it's not a particular department right?

It is compressing overall total company right? Okay. So no department means it's relating to overall company and they come in select the entire company and product okay. Okay, this is the debt what is the rent rent is one type of expense right? office rent is a one type of expense only according to the National icon all the expenses losses are the debit so that's why I'm selecting the rent as a debit account. I'm going to enter the amount how much rent you paid.

How much and suppose for example, I entered 5000 rupees, I paid 5000 rupee sign or currency right because our functional currencies and because our functional currency is there okay desire now. Okay, this is a debit line How to pay the rent. You pay the rent through cash or check cash means you will cash in hand is decrease right or as if you want to pay the rent if you pay the rent to check your bank balances decreased maybe you can use anyone account okay? Sometimes we have to pay the cash or sometimes we have to pay the checker on land transfers right. Okay if you want to pay the cash through cash use a cash account is the credit because your cash in hand is decreased. And whenever we should a check or a wire transfer, your bank account is get affected at the time we have to use center conductor to backup Okay, now I had to pay the rent as cash.

So go to select the core combination of cash, no need of entering anything here. Okay? Just you have to selecting the chord combinations on it. Same company, same department Better account is a cash account, I paid the rent by cash okay? And how much you paid same 5000 on the right debit account and credit line credit line both are the same amount always. Maybe sometimes maybe difference also I'll explain you later.

If there is a difference what happens I'll explain you later Okay. So this is a standard German compressor compressor it contains a two lines and the two lines are more distance same only maybe 5000 credit is a five okay after entering of the lines then go to sell the journal details go to click on the same transaction complete three records supplied and sales. Transaction complete three records supplied and the sale okay after that. So go to post the journal first means it posting into the ledger after completing the transfer section now my you must enter post that journal posting means that denims are posted to the ledger Okay, go to click on the Post button so at the time of posting one more general entry one more concurrent program is planning for posting the gentleman. Okay. So when the journal is posted means if the journals there is no errors in your journal.

Everything is okay the journal is posted into the ledger. After that you will get a status of the journalist posted Okay, fine. Okay. It is good to see that program whether the program is successfully completed on how to check the program, close this window. Go to the view request. Find now the gentleman's single ledger posting now the program is running refreshing Okay, now the program is completed okay let us see after completing the program successfully what journal entries posted.

Now let us see status whether it is posted or not how we can see same navigation journal enter, find non ID up, go to the new journal go to click on the Find Okay, now the journal back to status is posted actually here whenever we create a journal entry by default journal batch is created. By default the general batches creator, what is a general batch? Okay, the general batch is a collection of the general entry. Okay, by default one batch is created in that batch maybe we can create more than allows us one channel one batch Okay. So now the battery status is posted and source of the analyst manual. We entered the journal entry manually right?

And the category of generalised judgment and period is a march period and this is a batch name by default the batch mistaken there is a journal link. By default the system take the general name as backstabbing and it is a general name your currency and debit is 505,000 credit also 5000 Okay. So this is a one journal entry. So, like this, how to raise different type of journals like this How to raise different type of the journals one by one. Okay, then after a poster now if you want to see what journal entry go to click on the right Agenda okay. So, this is your journal entry after posting you cannot make any more changes after creating the journal, you cannot make any more changes on your journal if you want to change the changes go to reverse it that is nothing but a reverse gender if you want to do the changes in your gender, go to the reverse reverse means rectification of the general means we are going to rectify the gender after posting actually after posting you cannot make because this is ultra 3d right.

You cannot make any more changes. If you want to make changes you have to go for that reverse reverse reverse. Reverse antennas are nothing but a rectification of the gentleman Okay, so So, here you cannot make a change like this is you are already created a chord combinations right they would chord combination credit chord combination we enter the debit is 5000 credit is a 5000 that is a fixed loan okay so if you want to if you want to changing anything here we have to go for the reverse in other words No need after posting the journal if you want to make any more changes on the creator journal, we have to go for the reverse keyword otherwise no need okay so this is arising of the journal entry with help of the company primary ledger. Any journal you want to rise compulsory we need a chart of accounts currency and calendar.

So all the icons are coming from your chat a second the currency is your functional currency. All the pieces Sir coming from your calendar before going to rise a journal entry you must enter open the accounting period. So, now compulsory open the current period and now when we are in the matching capacity the match period is machine should open but only much split is not the opening compulsory how to open the prior periods on select January February like already that is a past periods right. But compulsory open it before going to opening that periods we cannot create the transaction directly in the month of March okay. So open the period from January to current period and directly will create a transaction some current period okay this type of deals are called standard journals. So by default when General batches created What is a general batch it is a collection of general enters.

In one batch we can create more than one now general cells are minimum one general. Okay, in one journal batch we can create more than one generic but by default one journal entry is mandatory. And maybe we can create more than one journal cells. We can create more than one journal cells. After posting is completed, you will get the status of journal entries posted. If there is no errors in your journal entry, by default the journal is posted into the ledger.

After posting you will get a message posted when you are general entry is successfully complete. After posted if you want to make any more changes, how to go for the reverse. We have to go for that reverse generally means rectification okay this click on the reverse side tasking much okay concurrent program is created really find it was refreshing so whenever we complete a concurrent program this program is successfully completed the output file is created for some programs. Okay. So search some programs some output files also created Sometimes if creator love files allow file mints, it displays a error message this is a genuine valid journal entry batches, all batches completed status check with no errors okay, but some programs if sometimes some programs are not completed successfully at the time the that system created log file love elements it displays the error messages okay go to View log and we can see the error message after that we have to rectify that problem Okay, so this is if suppose if you want to see the accounts let's click on the tea account, accounting structure also create debit and credit.

Okay, so this is nothing but a standard journal Any journal you take it compressing of the two lines that bit line and credit line. Okay, the lines the two lines about this both are the same on this okay and the next one is done so like to see how to rise the different type of generals and in the next video we'll see the recurring generals and the suspension the next video we'll see recurring denizen suspend generals okay.