Set Up Account Sets in AP&C

Create ledger account types.

Security: Set Up: Accounts
domain in the Common Financial Management functional area. See Steps: Set Up Security Permissions.

An account set in Adaptive Planning and Consolidation (AP&C) is a group of ledger account numbers that you can use to track financial activities. To establish the chart of accounts for a company, set up your account sets and ledger accounts.

Access the

Create Account Set

task.

As you complete the task, consider:

Option	Description
Chart of Accounts	You can enable a parent or child account set as your chart of accounts. Use the Edit Company Accounting Details task to assign account sets to companies. After you post an accounting entry for a company, you can't change the assigned account set.
Include Account Set	If you want to include one or more account sets as a subset of the parent account set, select or create child account sets. Create as many layers of account sets as needed. Workday displays a complete list of accounts from the parent and child account sets in reports. Workday recommends assigning ledger accounts to child account sets and then assigning the child account set to a parent. We don't recommend assigning ledger accounts directly to parent account sets. Example: You have 2 companies where some accounts are specific to each company and other accounts that you share across the companies. You can create 3 account sets: one for each company and one for the shared accounts. In the accounts for each company, you can link to the shared account set.
Identifier	Identifies account number. Example: 1000. You can revise anytime.
Ledger Account Type	You can change the account type for accounts without transactions. For accounts with activity, you can only change to a type within the same account type group. When you create balance sheets and income statements, you can select from accounts appropriate for the report.
Restricted To Companies (Optional)	Select the companies to which you want to restrict the ledger account. When you enter transactions, Workday validates that the ledger account is available for use with the selected company. Leave blank if you want the ledger account to be available for use with all companies.
Retired	Select when you want to inactivate the account, but have used it with transactions. The account still displays in reports. For historical purposes, you can't delete accounts that you've used. If you have specified guidelines in the account, then you can't retire or delete the account. Example: year-end rules, posting rules, or elimination rules for variance accounts. If you've used the account to report on accumulation, then you can retire the account, but you can't delete it. Example: financial statement definition, definition of an allocation source, elimination rules for used-by accounts. You can't retire an account when it's used on an active allocation pool that: Has the version status Active or Pending . Has an effective date of the current or a future date. Is on an active allocation plan.

Manage ledger account summaries.