1. Define currency - http://www.oracleug.com/user-guide/general-ledger/currencies
2. Conversion type
3. Primary SOB - http://www.oracleug.com/user-guide/general-ledger/sets-books
4. Reporting SOB - http://www.oracleug.com/user-guide/general-ledger/reporting-sob
5. Responsibility and Profile Options.
6. Define the first period for Reporting SOB.
7. Assign the reporting SOB to primary SOB. (Conversion options and rules)

5. Responsibility and Profile Options
Create the responsibilites for GL to assign the reporting SOB data. Assign the below profiles.
GL Set of Books Name:        Reporting SOB
MRC: Reporting Set of Books  Reporting SOB

Its not mandatory to create AP/AR responsibilites in 10.5.2 as we can check the accounting in reporting SOB from the primary SOB responsibility itself.The subledger responsibilities like AP, AR, PO, etc now do not require a separate responsibility to reflect the subledger data. After the data has got accounted in AP and AR, you can check on the subledger data by navigating to the View accounting form and then clicking on the ‘Alternate Currency’ button. You then have to choose the desired set of books to check the converted data

6. Define 1st period of R/SOB

   a. Use the MRC General Ledger responsibility.
   b. Setup -> Open/Close
   c. Define the first period. The first ever calendar periods in the primary set of books does  not have to be the same as the associated reporting book.

7. Assign the reporting SOB to primary SOB
Use the Assign Reporting Sets of Books window to assign each reporting set of books to its related primary set of books. Note the following rules:

• You can assign up to eight reporting sets of books to a single primary set of books. Most organizations will find no need to assign more than three.

Caution: If you need to assign more than three reporting sets of books to a primary set of books, be aware that each additional assignment will have an incremental impact on your system's performance and disk space consumption.

• You can assign the same reporting set of books to more than one primary set of books, provided they all have the same calendar and chart of accounts. You might want to do this if you need to consolidate transactions from multiple primary sets of books (with the same or different functional currencies) into the same reporting currency.
• You cannot assign a primary set of books to another primary set of books, or to a reporting set of books.
• If you use combined basis accounting in Oracle Payables, you only need to assign the related reporting set of books to your Payables primary set of books in this step. The relationship for the Payables secondary set of books will be made in the next step when you define the Payables conversion options.

      2. Select your primary set of books from the list of values. The set of books' functional Currency, Chart of Accounts, and accounting Calendar will be displayed.
    Note: Only those sets of books that have been defined as a primary set of books will be included in the list of values.

      3. From the list of values in the Reporting Set of Books region, select the reporting set of books that you want to assign to the primary set of books. The reporting set of books' functional currency will be displayed.
    Note: Only those sets of books that have been defined as a reporting set of books will be included in the list of values.

      4. Choose the Conversion Options button to define conversion options for each combination of Oracle Application and operating unit for which you want to convert transactions to your reporting functional currency for this reporting set of books. See: Define Conversion Options for Each Application.

      5. Save your work.

      6. Repeat the previous three steps for each reporting set of books you want to assign to the primary set of books.