Choose the four steps required to create and use the chart of accounts.

Choose the four steps required to create and use the chart of accounts.

A.
Create Value Sets.

B.
Create Chart of Accounts Structure.

C.
Create Chart of Accounts Structure Instance.

D.
Create Value Set Values.

E.
Create Account Hierarchies.

F.
Publish Account Hierarchies.

Explanation:
To set up your chart of accounts:
1. (A) Define value sets. Value sets determine the attributes of your account segments such as the
segment length, whether to require a segment value, value alignment, and value security.
2. (B) Define your account structure. Indicate how many separate segments your account will
have, and for each segment, enter a name, sequence number, and an associated value set.
3. Define rollup groups to create summary accounts whose summary balances you can review.
You assign parent segment values to rollup groups.
4. Define your account segment values. If you plan on defining summary accounts or reporting
hierarchies, you must define parent values as well as child or detail values.

You can set up hierarchy structures for your segment values. Define parent values that include
child values. You can view a segment value’s hierarchy structure as well as move the child ranges
from one parent value to another.
Note:segment values(D)
Use the segment values windowto define values that belong to independent or dependent value
sets.
5. Define Security Rules to restrict user access to certain account segment values.
6. Define cross-validation rules to control the account combinations you want General Ledger to
allow. For example, you may decide that your sales cost centers, 600 to 699, should only enter
amounts to product sales accounts, 4000 to 4999.
7. Define or enable descriptive flexfields.
8. Define account shorthand aliases to speed entry of account segment values. If you enable
shorthand alias flexfield entry when you define your account structure, then you can define
aliases, or codes, which stand for complete or partial accounts.
9. Define summary accounts to create and maintain summary balances for quick reporting and
online inquiry.
10. Create account combinations.
Defining Your Chart of Accounts