Set up a derived financial hierarchy in the public sector

Note

We will not be accepting edits to this topic, because it is generated from a business process in Lifecycle Services.

To meet Common Government-wide Accounting Classification (CGAC) requirements, public sector organizations can use derived financial hierarchies to collect and analyze posted transaction data for specific main account numbers, full account numbers, and financial dimension values. This procedure was created using the PSUS demo company data in the public sector partition.

Create a category hierarchy

  1. Go to Product information management > Setup > Categories and attributes > Category hierarchies.
  2. Click New.
  3. In the Name field, type a value.
  4. In the Description field, type a value.
  5. Click Create.
  6. Click New category node.
  7. In the Name field, type a value.
  8. In the Code field, type a value.
  9. Click New category node.
  10. In the Name field, type a value.
  11. In the Code field, type a value.
    • (Optional) Add additional child nodes, or set additional options for the nodes that you have created.
  12. Click Save.

Assign the Derived financial hierarchy category type

  1. Go to Product information management > Setup > Categories and attributes > Category hierarchy role associations.
  2. Click New.
  3. In the Category hierarchy type field, select 'Derived financial hierarchy'.
  4. In the Category hierarchy field, click the drop-down button to open the lookup.
  5. In the list, click the Category hierarchy to associate with the Derived financial hierarchy type.
  6. Click Save.
  1. Go to General ledger > Chart of accounts > Dimensions > Associate financial hierarchies.
  2. Click New.
  3. In the Legal entity field, click the drop-down button to open the lookup.
  4. In the list, select the legal entity to associate with the derived financial hierarchy.
  5. In the Derived financial hierarchy field, click the drop-down button to open the lookup.
  6. In the list, select the derived financial hierarchy to associate with the legal entity.
  7. Click Save.

Create filter rules for the derived financial hierarchy

  1. Go to General ledger > Chart of accounts > Dimensions > Derived financial hierarchies.
  2. In the Derived financial hierarchy field, click the drop-down button to open the lookup.
  3. In the list, click the hierarchy to create filter rules for.
  4. In the tree, select 'In the tree, select a child node.'.
  5. Click Edit filter.
    • Click Add new criteria to begin adding rules to the filter. After you've added all of the criteria, click Activate filter.