Selec the Set of BOOks type as reporting set of books

Note: A reporting set of books is a financial reporting entity that is associated with a primary set of books. The reporting set of books has the same chart of accounts and accounting calendar as the primary set of books, but usually has a different functional currency.

For example, assume that your company headquarters is located in Australia and that its primary functional currency is Australian Dollars (AUD). Assume also that you have one subsidiary each in Canada and Germany, both of which maintain a primary set of books in its local functional currency -- Canadian Dollars (CAD) for the Canadian subsidiary and Deutsche Marks (DEM) or the Euro (EUR) for the German subsidiary. Each subsidiary should maintain a reporting set of books in AUD, so it can analyze and report transactions using the parent's functional currency.

For each reporting set of books you define, you need to specify it as a reporting set of books on the Set of Books window, using the Reporting Currency Options alternative region.

Other Considerations
1. If your primary set of books is defined as an average balances consolidation set of books, any associated reporting sets of books must also be defined as average balances consolidation sets of books.

2.  If you use combined basis accounting with Oracle Payables, you will have two Payables sets of books (primary and secondary). One will be for accrual basis accounting and the other will be for cash basis accounting. If you want to report Payables transactions in your reporting currencies for each accounting basis, you must define a reporting set of books for each.

3. Some set of books options, such as the chart of accounts and accounting calendar, must be the same in both your primary and reporting sets of books. For other set of books options, we specifically recommend or do not recommend that they be the same in both your primary and reporting sets of books. For still other set of books options, you set them in each reporting set of books depending on what features you want available in that reporting set of books.

The following table summarizes the set of books options and provides guidance for setting them in your reporting sets of books.