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Functional need with Oracle GL Mapping

Posted on July 30th, 2007 by Sanjit Anand ||Email This Post Email This Post

Last post , I have mention some of the functional need for General ledger module. Here are the mapping with standard oracle General ledger functionality.


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Functional Need for General Ledger

Posted on July 30th, 2007 by Sanjit Anand ||Email This Post Email This Post

General Ledger is the heart of any accounting system. It is a central repository for all Subledger activity, maintaining the highest summary level of financial information from transaction details supplied by its subledgers. All events that have a financial or monetary impact are ultimately reflected in the General Ledger.

It is a comprehensive financial management solution that enhances financial controls, data collection, and financial reporting through out an enterprise.

What is the functional Need for General Ledger

  • Regulate the accounting calendar
  • Record business transactions
  • Record foreign currency business transactions
  • Correct erroneous transactions
  • Generate repeating transactions
  • Automate the posting of transactions
  • Integrate with feeder systems like Payroll, Purchasing if not using Oracle these products..
  • View economic position
  • View economic position in a foreign currency
  • Update value of foreign currency transactions
  • View aggregate economic position of two or more related companies

Posted in Oracle General Ledger | 1 Comment »

Oracle General Ledger – Major Functions and Features

Posted on July 30th, 2007 by Sanjit Anand ||Email This Post Email This Post

Do you know what are the major features of general ledger. Here are some listed major functions and features of Oracle GL Modules.

  • Define multiple calendars and accounting structures while dynamically creating new accounts combinations based on user defined rules
  • Uses standard , reversing and recurring journals
  • Uses Mass Allocations to automate your cost and revenue allocations quickly and accurately
  • Uses the Financial Statement Generator (FSG) to create custom financial reports
  • Uses the GL Desktop Integrator to combine the power of Oracle GL with an Excel spreadsheet to budget, report, analyze & enter accounting information.
  • Extensive foreign currency capability
    • Automate currency conversion, translation & revaluation in accordance with generally accepted accounting principles
    • Query and report on all foreign currencies and translated balances using single or multiple sets of books
    • Use multiple reporting currencies sets of books to manage routine reporting of foreign currency transactions
  • Record and review accounting information
    • Import data from subsidiary ledgers or enter journals to record actual or budget transactions directly into GL
    • Enter encumbrance journals to track encumbrances through the purchase approval process and to control spending against budgeted amounts
    • Review account balances online or through standard reports
  • Manipulate accounting information
    • Correct actual, budget and encumbrance information
    • Revalue and translate balances denominated in foreign currencies
    • Consolidate balances from multiple sets of books
  • Analyze accounting information
    • Integrate GL with Financial Analyzer to simplify the budgeting and forecasting process to efficiently answer ad hoc requests and to identify areas for profit improvement

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Do you know..Oracle Inventory automatically generates requisitions to maintain an item’s stock level.

Posted on July 29th, 2007 by Sanjit Anand ||Email This Post Email This Post

Oracle Inventory automatically generates requisitions to maintain an item’s stock level. The requisitions may request stock from an internal predefined source organization or from an outside supplier.
Inventory generates replenishment requests automatically using the following methods:

  • Min–Max Planning
  • Reorder Point Planning
  • Subinventory Replenishments for Replenishment Counts
  • Kanban Replenishments

All inventory replenishment methods create requisitions via the Requisitions Open Interface.

Posted in Oracle Purchasing | 2 Comments »

Production requisitions … PO release

Posted on July 29th, 2007 by Sanjit Anand ||Email This Post Email This Post

A simple question …how can we drive creation of production requisitions from MRP, and automatically approve production requisitions for PO release.

Normally in oracle Master Scheduling/MRP creates requisitions for ”buy” items when you release them using the Planner Workbench. MRP generated requisitions are sourced using the same rules as on–line and inventory replenishment requisitions e.g., you can specify either Inventory or Supplier as the default source type, as well as the source organization and subinventory for internal requests. For ”buy” items, the Requisition Import process uses the item sourcing information to create either a purchase requisition or an inter–organization internal requisition for planned orders.

Posted in Oracle Purchasing | 2 Comments »

Reports Options for accessing Budget informations

Posted on July 28th, 2007 by Sanjit Anand ||Email This Post Email This Post

Here are the reports options available in Oracle GL to access budget information.

  • Budget Trial Balance

Displays accounts budget balances and activity for a specific currency

  • Master-Detail Budget

Compares budget amounts between master and detail budgets and highlights violations (when detail budgets exceed their master budget or when master budget exceeds their detail budgets).

  • Summary Detail Budget

Lists the detail accounts that roll up into a summary accounts for a particular budget and currency.

  • Unbudgeted Master Detail Accounts

Lists transactions in the detail budget for which there are no corresponding budgeted amounts in the master budget.

  • Budget Hierarchy Listing

Lists master-detail budget relationships

  • Budget Organization Range Listing

Lists details (including budgetary control options) of budget organizations by accounts range.

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..Creating a Budget in GL

Posted on July 27th, 2007 by Sanjit Anand ||Email This Post Email This Post

  • In GL you can create a budget by designating amounts to a combination of an a/c and a period.
  • The status of a budget can be
    • Open – the budget is available for update and entry
    • Current – the budget is open and is the default budget when you use most budgeting and inquiry forms. You can have only 1 current budget for each set of books.
    • Frozen – the budget is unavailable for update or budget entry. However, you can unfreeze any budget or budget element that is currently frozen.
  • Use master-detail budgets to implement budget hierarchies. GL uses summary accounts to maintain master detail budget relationships between hierarchy levels.
  • Define budget organizations to specify budget accounts. Budget organizations can be defined along dept., division or cost center lines to decentralize budgeting within an organization. You can create as many budget organizations as you need provided a/c ranges do not overlap for the same currency within the same Set of Books.

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The Budget Accounting Cycle

Posted on July 27th, 2007 by Sanjit Anand ||Email This Post Email This Post

Typically Budget accounting cycle consist of five steps in oracle.

handStep 1 :Defining Budgets And Budget Organizations

Here you can define upto 60 budget periods in your budget; you can define budget organizations at any level – cost center, division and so on and assign passwords to budgets and create new organizations by copying existing budget organizations.

handStep 2 :Entering Budgets

You can enter budget data using standard, formula-based and automatic allocations. You can also enter amounts using annual spread, fixed amounts and calculated methods using an individual account layout or a worksheet type screen layout. You can also transfer budget amounts from one a/c to another.

handStep 3 :Reviewing and Correcting Budgets

This consist of reviewing budget amounts and variances by period and a/c combination online and compare summary balances of master detail budgets.

handStep 4 :Freeze Budgets

This prevent further update to completed budgets.

handStep 5 :Reporting on Budgets

This consist of running standard or customized budget reports.

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Know what ..General Ledger Budgeting offers ..

Posted on July 27th, 2007 by Sanjit Anand ||Email This Post Email This Post

Normally, not every big company is using this functionality , but some mid range to small company extensively utilizing this functionality.

Oracle GL provides with a variety of tools to create, maintain and track your budgets, including the ability to upload budget amounts from an Excel spreadsheet. We can

  • Create an unlimited no of budgets or forecasts
  • Control user access to budgets
  • Create budget organizations to mirror the various levels of your company’s organization and to control user access to the budget information.
  • We can structure the budget into an unlimited no of levels.
  • Within product we can create master-detail budgets

these are the some of the important features of Oracle GL budget. Next I will discuss the life cycle of Budget accounting cycle….[ ]

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What accounts we export to GL

Posted on July 27th, 2007 by Sanjit Anand ||Email This Post Email This Post

Do you know what accounts information exported to GL??? Here is a different accounts which exported to General ledger.This Example is based out of a ideal implementation with core accounting and manufacturing products.the details for different transaction type was mention in one of last post.


Posted in Oracle General Ledger, Uncategorized | No Comments »

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