Chart of Accounts is an Accounting Structure of an organization. It is used to record the transaction activity of an organization. It records the financial and accounting transactions of an organization and helps to maintain accounting balances.
Chart of Account is a key flexfield having one or more data segments as defined by the user.
An oracle Chart of Account can have up to 30 segments in a flexfields. 2 segments are mandatory; Balancing Segment and Natural Accounts.
This means, a flexfield can have minimum of 2 segments and maximum of 30 flexfields.
1. Define value sets for the segemnts.
2. Define segments and assign value sets (created above).
3. Define Qualifiers to the value sets.
4. Freeze and compile.
Chart of Account is a key flexfield having one or more data segments as defined by the user.
An oracle Chart of Account can have up to 30 segments in a flexfields. 2 segments are mandatory; Balancing Segment and Natural Accounts.
This means, a flexfield can have minimum of 2 segments and maximum of 30 flexfields.
1. Define value sets for the segemnts.
2. Define segments and assign value sets (created above).
3. Define Qualifiers to the value sets.
4. Freeze and compile.
