Kindly let me know how opening balance for GL Accounts are loaded.
Let's say I start using oracle APPS a fresh from JAN-10 period (Do I really need adjusting periods ?) should I use some bulk loader utility (like SQL Loader) to update GL_BALNCES table or proper journal entries are to be made?

Is there any difference between loading opening balance of AP an AR subledger accounts and others?

Thanks,
Shanmuga

Opening balances are simply loaded as a journal via GL_INTERFACE table. Adjusting period has no play here.
If you are bringing historical data from JAN-10 then make sure you make DEC-09 as your first period in GL. (You cannot do translation in your first period that is why always keep 1 spare period in the beginning).
You do not bring opening balancing from AP and AR. You simply bring open transactions if need be. However you need to make sure you remove the open AP and AR transaction's from your GL open balances to prevent double counting.

Hi Hasan,

When you say to bring over only Open transactions for AP and AR, do you mean the accounting entries for instance in Payables, that relate to Invoice creation and payments made, that have not been accounted ( AND have not been sent over to the GL) ?

What do you mean when you say OPEN TRANSACTIONS, for both AP and AR.
Can you clarify, please.

Thank-you

Open transactions mean those invoices that are not paid yet.

Hi Hasan,

You mentioned this in your response on this forum...

"If you are bringing historical data from JAN-10 then make sure you make DEC-09 as your first period in GL. (You cannot do translation in your first period that is why always keep 1 spare period in the beginning)."
...


I'm assuming you are loading the Jan-10 period with historical data from say DEC-09 (from some other system )..Then I think you are saying you can NOT run Translation for Jan-10... Why not ? Can you please explain.
...
If I open JAN-10 as my 1st period, are you saying Oracle apps will not allow you to run Translation for Jan-10 ?

Thank-you

All I am saying is that if JAN-10 is your very first period in your GL then you cannot run translation for that period. That is why mark DEC-09 as your very first period. How do I know that? Oracle has mentioned that in their documentation. Why did they mention that? I will find out for you when I meet Larry Ellison next time.

Hey, I didn't realize you were good friends with Larry :) :)

Thank-you !!

Typically, one period prior to the first period of transaction activities is opened. This allows the balance sheet accounts to be loaded and rolled forward to the first period in the calendar year to properly initialize the balance sheet account beginning balances.

Hi Fhorvath,

Translation feature in Oracle is based on account balances being translated from a functional currency to a foreign currency (for reporting purposes). For Multi Reporting Currency (MRC) feature in Oracle, transactions (Journal Entries) are converted from a functional currency to a reporting currency (a foreign currency).

If you intend to start transacting from JAN-10, your balance sheet account balances from , say, your legacy system, which you would have transferred to your fresh install, will not initialize (will not show up) in JAN-10. Therefore, since Translation is done on Balance Sheet Account Balances, you cannot successfully run it for your first accounting period JAN-10.

That is why you, for a work around, you open an accounting period DEC-09 during which time you transfer your legacy balance sheet account balances before your main first transactional accounting period.

By the time you open JAN-10, some concurrent program would be run to initialize the beginning balance sheet account balances.

In short, you need to have a beginning balance sheet account balances for the account period you intent to run the TRANSLATION feature.

I should think that is why Hasan would like to have a word with his friend, Larry Ellison!

Thank-you very much for that information.
It makes sense now. I might even create a dummy LEDGER and try it out, with a few entries, and then run Translation.

Thanks again :)