Oracle General Ledger

Oracle General Ledger

Encyclopedia

Tutorials

Encyclopedia

Dictionary

Directory

Email this to a friend Oracle_General_Ledger

Oracle General Ledger

The Oracle General Ledger module within Oracle Financials is an integrated part of the ERP package Oracle applications. It is a financial management solution within E-business suite for entering Journals, planning and budgeting, financial reporting etc of large companies. Oracle claims that it's GL module can import and post 42 million journal lines per hour, which would make it a suitable GL application for very large enterprises whose volume of GL transactions are very high.^[1]

Oracle began its applications division in the late 1980s and Oracle?s first ERP offering was Oracle Financials whose main component was Oracle General Ledger. So in a way oracle general ledger is the precursor to all of oracle?s ERP modules.^[2]

Scope
See also
External links
References
Notes

Scope

The screenshot below ^[3] from Oracle demonstrates the accounting cycle of Oracle General Ledger.

Before setting up oracle GL, The following need to be set up :

(M) = Mandatory Step, others are optional

Chart of Accounts (M)
Account Combinations
Period Types (M)
Calendar (M)
Transaction Calendar
Currencies (M)
Set of Books or SOB (M)
Assign SOB to a responsibility (M)
Daily conversion Rate types (M)
Rates

Once the above steps are done, to implement Oracle GL the following need to be setup

Journal Sources (M)
Journal categories (M)
Suspense Accounts
Inter-company and Summary Accounts
Statistical UOM (Unit of Measure)
Historical Rates and Document Sequences
Automatic Posting and Incumberance types
System Controls (M)
Budgetory Control Groups
Profile options (M)
Open / Close GL accounting periods.

Other Features of Oracle GL include

A single legal entity is possible to assign with multiple ledgers to meet statutory, corporate and regulatory reporting.
Multi-currency functionality
Chart of Accounts is created segment-wise for reporting hierarchies. Up to 30 segments can be created in a chart of accounts with 25 characters per segment.
Financial Statement Generator (FSG) which comes with Oracle GL generates financial reports, such as the income statements and balance sheets from the GL data applying the access security rules. Ad-hoc reports can be prepared with the FSG.
Technically, oracle General Ledger - Release 11i contains approximately 130 tables, excluding the temporary processing tables, 70 forms and 140 concurrent programs / reports. The tables and forms which are part of and accessible to GL , but are not owned by the GL user are not included in the above counts. For e.g. FND objects owned by APPLSYS are not included.