General Ledger

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.

 

General Ledger Overview : 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 transactions 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.
  • 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 Oracle General Ledger with Oracle Financial Analyzer, Oracle Discoverer, or Applications Desktop Integrator to simplify the budgeting and forecasting process.
  • Quickly prepare what if analyses and pro forma reports

General Ledger Accounting Cycle

1. Setup/ Open period
2. Create/reverse journal entries, Post &  Review
3. Conversion, Revaluation, Translation, Re generate &  Consolidate
4. Review/correct balances & Run accounting reports
5. Close accounting period
Functions & Features


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