Oracle General Ledger Overview

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.

Oracle General Ledger is a comprehensive financial management solution that enables you to:

·         Record and Review Accounting Information

·         Import data from subsidiary ledgers, or enter journals to record actual or budget transaction directly into oracle general ledger

·         Enter encumbrance journals to track encumbrances through the purchase process and to control spending against budgeted amounts.

·         Review account balances online or through reports.

·         Analyze, correct, and adjust accounting information.

·         Correct actual, budget, and encumbrance information.

·         Revalue and translate balances denominated in foreign currencies.

·         Consolidate balances from multiple ledgers.

·         Analyze Accounting Information

·         Integrate Oracle GL with Oracle Discoverer, or Web Applications Desktop Integrator to simply the budgeting and forecasting process.

·         Use FSG to build customized reports with reusable report objects.

·         Use Oracle Report Manager to submit and publish FSGs

      General Ledger Accounting Cycle

   

1- Open period

2- Create/reverse journal entries


3- Post


4- Review


5- Revalue


6- Translate


7- Consolidate


8- Review/correct balances


9- Run accounting reports


10- Close accounting period