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Balancing Segments

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edited May 27, 2021 12:02AM in General Ledger & Intercompany 3 comments

Summary

Higher Ed Clients: Best configuration of balancing segments for departments which need net position calculated

Content

Hello.

We are leaning toward using Entity and Fund as balancing segments (this has been highly recommended by external consultants and appears to be a leading practices).  However, we have many self-supporting units which need to have their net position/retained earnings calculated for them at the end of each fiscal year.  It seems the only way to accomplish this is to designate department (instead of Fund) as a balancing segment.

Does anyone have 3 balancing segments designated?  It has been recommended that we not assign 3 balancing segments.  Besides creating a lot of due to due from entries, we've been told Oracle Cloud financials doesn't always handle the transactions properly.

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