Use the Accounting tabbed region to define your accounting flexfields. You can also choose whether to use automatic journal import, enable header level rounding, and specify how many days should be included in each posting cycle.
Navigate to the System Options window.
Specify an operating unit.
Enter your Realized Gains and Realized Losses Accounts. Receivables posts changes in your functional currency to your Realized Gains or Losses account in your general ledger if there are differences in exchange rate gains or losses.
For example, if the exchange rate for a foreign currency invoice is 1.7 and the exchange rate of your payment for this invoice is 2.0, Receivables posts the difference as a gain to your Realized Gains account. Receivables provides descriptions of each segment, verifies that all flexfield segments are active, and ensures that you enter a valid combination.
Enter a default Tax Account.
Enter your Unallocated Revenue Account. Receivables uses this account when you apply a cash receipt with a balance other than zero to an invoice with a zero balance.
In the Cross Currency Rate Type field, enter the default exchange rate type that Receivables uses when the receipt and transaction currency are different and the two currencies do not have a fixed rate relationship. (If the receipt and transaction do have a fixed rate relationship, then Receivables uses the exchange rate that you defined.)
The Applications and QuickCash windows use the value that you define here to calculate the Allocated Receipt Amount when you enter the Amount Applied and vice versa (if this system option is not defined, then you must manually enter both values).
Additionally, AutoLockbox uses this system option to apply cross currency receipts if the currencies do not have a fixed exchange rate and the program cannot automatically calculate the rate to use. See: Importing and Applying Cross Currency Receipts.
Enter a Cross Currency Rounding Account. Receivables uses this account to record any rounding error amounts created during a cross currency receipt application for currencies that have a fixed rate relationship. You need to define a rounding error account if you create cross currency receipts. See: Cross Currency Receipts.
Define a Header Rounding Account and enable Header Level Rounding (optional). Receivables uses this account to record any rounding differences that occur when converting foreign currency transactions to your functional currency. For more information, see: Header Level Rounding.
Warning: After you enable Header Level Rounding and save your work, you cannot disable the feature.
To import the batches of transaction records that you post into your general ledger, check the Automatic Journal Import box.
Enter the number of Days per Posting Cycle. This lets you process the transactions you are posting in smaller groups to ensure that you do not run out of rollback space during posting. For example, if your accounting period is 30 days and you set this value to 30, the posting program uses only one cycle. If your accounting period is 30 days and you set this value to 17, the posting program uses two cycles. We recommend that you set this field to a value that is less than the number of days in your accounting period.