Challenge 2: Manage Account RuleTASKCreate Account Rule with 3 prioritiesName of Account Rule: Revenue AccountSubledger...

Step-by-Step Guide to Create an Account Rule with 3 Priorities in Oracle Fusion

Step 1: Navigate to Manage Account Rules

Log into Oracle Fusion with appropriate privileges for Subledger Accounting.

Go toSetup and Maintenance.

In theFunctional Setup Manager (FSM), navigate to:

Financials

Subledger Accounting

Manage Account Rules.

Step 2: Create the Account Rule

ClickCreateto add a newAccount Rule.

Enter the following details:

Name: Revenue Account

Subledger Application: AHC Billing

Process Category: AHC Billing

Event Class: AHC Billing

Event Type: Customer Billing, Customer Pay In, Customer Refund, Customer Settlement

Rule Type: Account

ClickSave, then proceed to definePriorities.

Step 3: Define Three Priorities for the Revenue Account Rule

Now, define three priorities for determining the revenue account:

Priority 1: Derived from Transaction Type

ClickAdd Rowto definePriority 1.

SetPriority Orderas1.

DefineCondition:

IfTransaction Type = "Customer Billing", thenAccount = 4000 (Revenue Account)

Source Type: UseTransaction Typeas the basis.

ClickSave.

Priority 2: Derived from Customer

ClickAdd Rowto definePriority 2.

SetPriority Orderas2.

DefineCondition:

IfCustomer Category = "Wholesale", thenAccount = 4010 (Wholesale Revenue)

Source Type: UseCustomer Categoryas the basis.

ClickSave.

Priority 3: Default Revenue Account

ClickAdd Rowto definePriority 3.

SetPriority Orderas3.

DefineCondition:

Default Revenue Account = 4999(for any other transactions)

Source Type: UseConstant Value.

ClickSave.

Step 4: Validate and Assign the Account Rule

ClickValidateto ensure the rule has no errors.

Navigate toManage Journal Entry Rule Sets.

Locate theAHC BillingJournal Entry Rule Set.

Assign the newly createdRevenue Account Ruleto theappropriate Journal Line Rule(such as Revenue or Income).

ClickSave and Close.

Step 5: Test the Account Rule

Go toSubledger Accounting > Accounting Entries.

Generate accounting for different transactions:

Customer Billingshould deriveAccount 4000.

Wholesale Customer Billingshould deriveAccount 4010.

Other transactionsshould deriveAccount 4999.

Review and confirm that the correct accounts are assigned.