Use Ledger to determine the currency, account structure, and accounting calendar. You define a ledger using the General Ledger Super User responsibility.

For more information on the following steps, see the Define Accounting Setups Using Accounting Setup Manager section in the Oracle General Ledger Implementation Guide

Creating a Legal Entity

The first step in the process of a ledger creation is to create a legal entity. You create a legal entity using the General Ledger Super User responsibility Legal Entities tab in Accounting Setup Manager.

Creating a Ledger

After you create a legal entity, create a primary ledger for OLM purposes. Enter a unique name for the ledger. Select the name of your Chart of Accounts (that is, the name of the Accounting Flexfield structure you have set up). Then, select the chart of accounting calender and currency. Save the ledger.

Defining Accounting Options

When you save the ledger, the application displays a message that you must define the Accounting Options for this accounting setup. Depending on the type of accounting setup you define, you must complete different accounting options to specify how you want to perform accounting and process transactions. Accounting options include ledger options and reporting currency options. You can either select an existing Subledger Accounting Method or create one. This method is for reference only and is not used by OLM.