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Third Party Control Account Segment Qualifier

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Third Party Control Account Segment Qualifier

Third Party Control Account Segment QualifierThird Party Control Account Segment Qualifier

Objective of this article:

  • Understand how to enable ‘Third party Control’ in General Ledger?
  • How ‘Third party control’ works effectively?

Benefits of using Third Party Control Account Feature:

  • It would prevent all super-user/end user to enter manual journal entries in General Ledger for third party enabled Accounts.
  • It would also prevent to create journal entry at Subledger level, if you don’t specify third party Type control details for the respective entry.
  • As a result, an Organization will have greater control over number of accounts.

Functionality:

This feature can be used to control the entry of manual journals relating to Subledger control
Accounts directly into General Ledger module which should otherwise come only from Subledgers
e.g. Receivables, Payables and Inventory etc, for which Subledger accounting automatically creates detailed  Accounting and If you do not specify the Account as a control account, you will be able to use respective account for all Oracle Applications.

The control account segment qualifier lets you specify which account segment values are control accounts. You should define the control account segment qualifier even before you can define accounting segments values as control accounts.

Let’s understand ‘Third party Control’ along with below given example:

In below given example, the Account Segment value is 4150 (Training-Revenue). Against the segment qualifier, in Third Party Control Account, select value = Customer, because here you can control this account segment via Receivables  at the same time as ensuring that Customer details are entered. i.e. this will ensure that you cannot use Training Revenue Account into GL unless you use third party Type control details for the Customer to whom the service rendered.

How to enable ‘Third party Control’: Navigation

Responsibility> General Ledger> Setup> Financials> Values

How it prevents the Journal Entry at General Ledger Level

In below screen shot, you are unable to enter manual journal entry at General Ledger level, since respective segment has been qualified as a third party control.

How it prevents the Journal Entry at Sub-Ledger Level

Responsibility> Receivables> Inquiry> Accounting> Subledger Journal Entries

When you are trying to use Training Revenue Account (4150) at Subledger lever that too without giving any Third party details then it would give below error.

Accepted Journal Entry from Subledger level

In below screen shot, all required third party details have been entered i.e. Third Party Type-Customer, Customer Name AT & T Universal Card which qualifies requirement of Control Account segment qualifier, so you can create an entry with the Customer details.

– by Amol Kshirsagar

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