It’s not 3c’s any more

It’s not 3c’s any more
As we all know that in Release 12, "Set of Books" have been Substituted by "Ledgers".This Substitution is not just a transformation of name alone, the components has also undergone a change, more than a change you can call it as an addition.In previous versions, set of books consists of,C = Chart of AccountsC = CalendarC = CurrencyIn Release 12, ledgers Consists ofC = Chart of AccountsC = CalendarC = CurrencyC = Accounting Method or Convention ( ***** New Component*****)Lets see more about this new component....Selection of Accounting method is nothing new for people using earlier versions of Oracle Applications, it is carried out at the Subledger level. The available methods were Accrual and Cash in previous versions.In Release 12, the selection of Accounting method is done at the ledger creation level itself. And this is the only place where the accounting method is selected and not in any other place !(Accounting method can be changed any time, it will not affect the existing transactions)Lets us see what are the available (Seeded) Accounting methods in Release 12,1) Accrual with Encumbrance Accounting2) Cash with Encumbrance Accounting3) Standard Accrual4) Standard Cash5) US Federal AccountingNow lets see basis of Selection of Accounting methods:All upgraded, non-public-sector ledgers will have a Subledger accounting method assigned called Standard Accrual or Standard Cash ( This is nothing but the same Cash and Accrual which we had in rel 11)All upgraded public sector ledgers will have a subledger accounting method assigned calledEncumbrance Accrual or Encumbrance Cash. ( This come in to place when we use purchasing modules, and transfer of encumbrance journals becomes necessary)For Federal customers, all upgraded ledgers will have the US Federal Accounting subledger accounting method assigned.Note: You cannot delete the Subledger accounting method but you can change the Subledger accounting method and Subledger accounting options at any time. And also you can create a new Subledger method and attach it to your ledger.Hope this clarifies about the fourth "C" in Release 12 !