Tuesday, June 5, 2012

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











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