Oracle General Ledger - Major Functions and Features

Posted on July 30th, 2007 by Sanjit Anand | Print 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