Defining Legal Entity
Navigation – GL Super User – Setup – Financials – Accounting Setup Manager – Accounting Setups


Click on Create Accounting Setup – which brings to the below screen


Enter all the details in the above screen and click Apply

Defining a Ledger

Enter the valid details for
Name
Chart of Accounts
Accounting Calendar
Currency
Subledger Accounting Method

And then click Next

Please review the information in this screen – else will be unable to change the Primary Ledger. See below the information in the screen

Click Finish to complete the process

Defining Accounting Options
Click on Define Accounting Options in the above screen

In the above screen…
In Accounting options we can see the following

Click on Update to see the Ledger Options






Once we click Finish, we are back to the Accounting Options Screen

Here, there are options to Update the following…
Reporting Currency
Click on the Update Icon to update the Reporting Currencies if any

Balance Level
Sub ledger Accounting Options
Sequencing
After  updating the above necessary setup’s,  the screen looks like this

Click on Complete now to finish the Accounting Options Screen.
There is a warning message that its going to complete the Accounting Setup. Click on Yes

Clicking on Yes, gives a confirmation message that the Accounting Setup is complete

Click on Return to Accounting Setups – which brings to the Accounting Setup Page.

We can query for the Ledger just created or Click on Next to find out in the list…

The pencil icon against the Update Accounting Options of the Ledger enables to Update the Accounting Options if required.