To create Journal Line Rules (JLR) in Oracle Fusion, follow these step-by-step instructions:
Step 1: Navigate to the Manage Subledger Journal Entry Rule Sets Page
Log in toOracle Fusion Applicationswith a user that has privileges to configureSubledger Accounting Rules.
Go toSetup and Maintenance.
In theFunctional Setup Manager (FSM), select:
Step 2: Create the "Interest Receivable" Journal Line Rule
ClickCreateto add a new Journal Line Rule.
Enter the following details:
Name: Interest Receivable
Subledger Application:AHC Loan
Event Class:AHC Loan
Event Type:Loan Origination, Interest Accrual, Payment
Account Class: (Choose the appropriate account class, such as "Receivable" or a custom account class)
Line Type: Debit
Description: (Optional, enter something like “Recognizes interest receivable”)
UnderConditions, define rules if needed to filter transactions for this Journal Line Rule.
Save and Close.
Step 3: Create the "Interest Income" Journal Line Rule
ClickCreateagain to add the second Journal Line Rule.
Enter the following details:
Name: Interest Income
Subledger Application:AHC Loan
Event Class:AHC Loan
Event Type:Loan Origination, Interest Accrual, Payment
Account Class: (Choose an appropriate account class, such as "Revenue" or a custom account class)
Line Type: Credit
Description: (Optional, enter something like “Recognizes interest income”)
UnderConditions, define rules if needed to filter transactions for this Journal Line Rule.
Save and Close.
Step 4: Validate and Deploy the Rules
Navigate toManage Accounting Methods.
Find the accounting method used for theAHC Loansubledger.
Attach the newly createdJournal Line Rulesto the appropriateJournal Entry Rule Set.
Validate the changes and submit them for approval.
Once validated, deploy the accounting method.
Step 5: Test the Journal Line Rules
Navigate toSubledger Accounting > Accounting Entries.
Generate accounting for a testLoan Origination, Interest Accrual, or Paymenttransaction.
Verify that the correct Journal Entries are created:
Interest Receivable (DR)
Interest Income (CR)
Submit