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