You are setting up Close Monitor for your organization. What is the key consideration when selecting the ledgers or ledger sets that form part of the Close Monitor hierarchy?

The Close Monitor provides a consolidated, hierarchical view of the period close process across multiple ledgers. For this aggregation and unified view to function correctly, all ledgers and ledger sets included in the hierarchy must share the same chart of accounts and accounting calendar. This structural consistency is a prerequisite, as it ensures that account balances and period statuses can be logically combined and compared across the different business units represented by the ledgers.

B. The hierarchy can include primary ledgers, secondary ledgers, and reporting currencies, not just primary or secondary ledgers.
C. While often aligned, ledgers can have different accounting conventions (e.g., a primary ledger for local GAAP and a secondary for IFRS).

1. Oracle Fusion Cloud Financials, Implementing General Ledger, Chapter: Define General Ledger Options, Section: Close Monitor. "To use the Close Monitor, the ledgers must share a common chart of accounts and calendar."

2. Oracle Fusion Cloud Financials, Using General Ledger, Chapter: Period Close, Section: Close Monitor. "The Close Monitor provides a view of the period close process of all your ledgers that share the same calendar and chart of accounts."