R12 introduces the new product Advanced Global Intercompany System (AGIS), which takes forward the features provided by GIS in 11i GL and adds a number of important new capabilities. The major new capabilities are:
In the real world a Legal Entity (LE) can enter into contracts, own cash (bank accounts), employ people, pay taxes, be sued and simlar. In Oracle Financials Release 12, a whole new product; Legal Entity Configurator, was created to manage them. We allow you to define your real world Legal Entities and then map them to the E-Business Suite objects and structures. Transactions are stamped with an owning (first party) Legal Entity and that will be used to drive tax, accounting, intercompany and Legal Reporting.
So let’s look at the relationships LE have to other E-Business suite objects. Continue reading “How do I define my Legal Entities?”
One of the most common questions I get asked is
‘Do we need to define an Intercompany segment in our chart of accounts?’
The answer is:
‘We do not require an Intercompany Segment, but we still recommend defining one’.
Even if you do not have a great deal of intercompany activity at the moment, it is worth having one defined now as it is difficult to add one later.
Another question I have been asked is
‘Can I define the same segment to be my balancing segment (aka Company Code) and my Intercompany segment?’ Continue reading “Intercompany Segments in the Vision Demo”