Summary accounts are hierarchical rollup of children and/or parents to allow for faster reporting and inquiry on-line of a parent account balance. Summary accounts are more commonly used to improve the speed of reporting and simplify FSG definitions. Another powerful use of summary accounts is in recurring journals formulas
Steps to Define Summary Accounts:
- Verify Flexfield definition
- Unfreeze Rollup Groups
- Define a rollup group
- Define a parent value
- Define a child value.
- Assign the rollup group to the parent.
- Define a summary account template.
- Select the earliest period for GL to begin using the summary account.
- Execute “Program - Maintain Summary Templates”.
- Post a journal entry to one, or more child values assigned to the parent.
Unfreeze Rollup Groups
- Navigation: GL responsibility: Setup à Financials à Flexfields à Key à Segments
- All accounting flexfields definitions must have ‘Freeze Rollup Groups’ unchecked.
Define Rollup Groups
- Navigation: GL responsibility: Setup à Financials à Flexfields à Key à Groups
- Must identify the Key Flexfield Value Set
Define Parent Value and Assign it to a Rollup Group
- Navigation: GL responsibility: Setup à Financials à Flexfields à Key à Values
- If “Group” field is grayed out, an accounting flexfield structure still exits with “Freeze Rollup Groups” checked
- Value: P00000
- Description: Net Profit
- Group: Net Profit
- Make sure Posting and Budgeting “‘No”
- Define Child Ranges:
- From: R00000 To: R99999
- From: E00000 To: E99999
Define Child Values
- Navigation: GL responsibility: Setup à Financials à Flexfields à Key à Values
- Value: R10000, R20000, E10000, E20000
- Description: Sales Revenues, Other Revenues,
- Make sure Posting and Budgeting “‘Yes”
Define Summary Accounts
- Navigation: General Ledger: Setup à Accounts à Summary
- Template Options:
- D – Detail – create record for each value in this segment
- T – Total – sum up all values for this segment into one (requires value ‘T’ to be defined)
- Company segment could be Detail (D).
- Account Segment would be assigned the rollup group.
- All other flexfield segments could be Total.
- Thus, creating a summary net profit balance by company.
- Select the earliest period for GL to begin using the summary account.
- Execute ‘Program - Maintain Summary Templates’.
- For summary accounts previously created that need to be updated due to a modification to the parent value, run ‘Program - Incremental Add/Delete Summary Templates’.
Account Inquiry Using Summary Accounts
- Navigation: General Ledger: Inquiry à Account
- Perform an account inquiry to view actual, budget, and encumbrance account balances for summary and detail accounts.
- Enter your account inquiry criteria.
- Enter accounting periods, current and balance type.
- Select a summary account template for the inquiry.
Trouble-Shooting Summary Accounts
- Verify whether summary account was properly created by viewing it in the Account Inquiry form. Select it from the Summary Template field on the Account Inquiry form.
- Delete the summary account template and re-create.
- Delete the rollup group and re-create.
- Recompile the accounting flexfield hierarchy.
- Recompile the flexfield structure.
- Post a journal entry to a child value assigned to the rollup group. Summary accounts are only created when detail accounts that roll-up into them have been created and amounts have been posted to these accounts.
- Verify a value of ‘T’ has been created for each flexfield segment that is assigned as ‘Total’ on the summary template.
References
Brenda Carlton, Oracle Financials Consultant,
Karen Brownfield, Solution Beacon, LLC, www.solutionbeacon.com
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