Oracle Apps Functional All About Oracle Apps functional & Technical FAQs, Tutorials

ROLL UP GROUPS IN GL

• Defining rollup groups allows a little more flexibility in your summary templates. Rollup groups provide a form of intermediate information and are a collection of parent values.

SUMMARY ACCOUNTS IN GL

•SUMMARY ACCOUNTS –

–A summary account is an account whose balance is the sum of balances of multiple detail accounts. Summary accounts are used to perform online summary inquiries, as well as speed the processing of financial reports, Mass Allocations, and recurring journal formulas. Summary Templates are used to create summary accounts.

TRANSLATION IN GL

Translation is the process of translating account balances from your functional currency to another currency. This process translates balances only, it does not translate individual transactions.

GL TERMINOLOGY

Below are few of the buzz words in GL and what they signify –

1.Ledger – A financial reporting entity that uses a particular chart of accounts, functional currency, and accounting calendar. Oracle General Ledger secures transaction information (journal entries, balances) by Ledgers. When you use Oracle General Ledger, you choose a responsibility that specifies a Ledger. You then see information for that Ledger only.

–Formerly called Set of Book in R11i. Ledger is an accounting book.

JOURNAL IMPORT

Accounting transactions are originated as a result of normal business activities in Financial and Manufacturing modules of Oracle Applications, as well as in external modules. In order to register those transactions into the

ACCRUAL v/s CASH Basis Accounting

There are two basic accounting methods available in the business world: Cash or Accrual.

Cash Basis Accounting –

WHAT IS GENERAL LEDGER?

General Ledger is one of the core modules in oracle apps. The Oracle General Ledger is the central repository of accounting information. The main purpose of a general ledger system is to record financial activity of a company and to produce financial and management reports to help people inside and outside the organization make decisions.

Here are the major functions of General Ledger