Oracle General Ledger and Budgeting

What is planning budget ?

The plan for the future expenses is planning budget. It is a paper work. There is no funds requirement. It does not require journals. There are no restrictions for estimating of funds. It is a budget through which you cannot exercise budgetary control. But u can compare your actual with budgets through inquiry window.

What is Consolidation in GL?

It Consolidates the Subsidiaries & Parent financial information. At a point of time we can check the Performance of the Companies overall Performance. When we have multiple setup and combine primary and secondary books getting the financial reports is called consolidation We will use consolidation reports at the time of period end closing Consolidation is the Process of combining the Financial results of different companies typically combining subsidiary accounting information into a parent company.The main purpose of consolidation is for reporting purpose. Consolidation is the period-end process of combing the financials of separate subsidiary with the pay rent company to from single ,combine statement of final result consolidation is one of the reporting tool.consolidation may map the subsidiary set of books to parent set of books, even if the set of books values are different using segment rule,accounting rule It is the process of combining the financial results of multiple companies into one financial statement the company may have different sobs in different countries,so we will collect all the financialtransactions(sob) in to one set of book ,that is parent sob then the company easely findout all the finacial year endingresullts in their functional curency,that purpose multiple companies are using consolidation I think consolidation can be done with two ways that is FSG, GCSÂ for FSG it can be done when both parent SOB and Subsidary SOB have Currency, Calender, COA, same then we go for FSG.In Global consolidation System currency, coa, calender are different in parent sob and subsidary sob we have to go for GCS.I am Saikrishna actaully I am pursuing my oracle financials in hyd i just completed one of my module GL institute.

How to import data to General Ledger by Feeder System ?
There are three ways:

1- You can upload Journal Entries using ADI (Application Desktop Integrator) functionality. ADI is used to interface spreadsheet uploads with Oracle applications data. ADI allows users take advantage of many of the data-entry shortcuts of a spreadsheet, such as copying and pasting cells, dragging and dropping ranges of cells and using formulas to calculate journal line amounts. ADI validates the data entered against the accounts, security rules and reference information that are defined in the General Ledger (GL).

2- Using Journal Import, we can bring the data from the feeder system; to import the Transactions from External Feeder Systems following are the steps-1. Populate the data from External system to GL_Interface table (GL_INTERFACE table acts like a bridge between the external system and the Oracle General Ledger Base tables where journals are stored). 2. Run the Journal Import process to import the date to base tables (Errors in Journal Import are listed in Execution Report)

3. From any sub module run individual module transfer to GL program Ex: Payables transfer to General Ledger

After creating Journal Source how do we approve to the specific Set of Books ?

To approve journals from specific source, while creating the source ‘Require Journal Approval’ check box should be enabled. To approve all the journals that come from different sources In the Set Of Books window under ‘Journaling’ tab ‘journal approval’ should be enabled.

While creating combination of accounts what is the use of PRESERVED check box ?

If we check preserve for a account code combination then even if you disable this account segment value, the inherited (parent. child) segment values will not be disabled. If it is unchecked all the related segment values will be disabled. Preserved check box will help you to retain the original character of the General Ledger code combination, even after u change the nature of the segments during maintenance of the GLCC.

What is the MD form 50 ?

MD50 is a Functional design document, designed by the functional consultant. After interacting with the client, functional consultant will prepare this document. In this we will compare the present business process and client requirement. It is mainly used for Application Extensions and Interface functional design.

What are the journal entries in Procure to Pay Cycle ?

When the Material Received at the Gate-

Receiving Accrual A/C — DrMaterial AP Accrual A/C — Cr

When the Material delivered to The Inv Org Material

A/c Dr Purchase Price Variance A/c Dr Receiving A/c Cr

When the Invoice Is enterd into the Payable with Matching Of PO Material

Ap Accrual A/c Dr Invoice Price Variance A/c Dr AP Liability A/c Cr

Material Receipt

Receiving Accural Dr AP Accural Cr

On completion on inspection and accepting of goods

Inventory Dr Receiving Accural Cr The Above given 2 entries are in PO module

On entering Invoice in AP

AP Accural Dr Accounts Payable Cr

On Making payment

Accounts Payable Dr   Cash/Bank Cr 1. On Entry of PO ________ No accounting impact On Material

On Payment

Accounts Payable Dr’ Cash/Bank Cr

When we raise the Purchase Order entry

Material in transit a/c Dr To AP Accrual A/c

Thanks – Shivmohan

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