Scribd
Upload
210 views

General Ledger ORACLE

The document describes the general ledger for Abhar Wire and Cable Co. including the chart of accounts, currency, calendar, subledger accounting conventions, and available reports. The chart of accounts has five segments - company, cost center, account, product, and future. The company uses the Iranian Rial as its functional and reporting currency. It follows a 13 period calendar and accrual-based double entry bookkeeping. Data can be transferred from subledgers to the general ledger to create journal entries. Standard and customized financial reports are available.

Uploaded by

Bala Ranganath
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
210 views

General Ledger ORACLE

The document describes the general ledger for Abhar Wire and Cable Co. including the chart of accounts, currency, calendar, subledger accounting conventions, and available reports. The chart of accounts has five segments - company, cost center, account, product, and future. The company uses the Iranian Rial as its functional and reporting currency. It follows a 13 period calendar and accrual-based double entry bookkeeping. Data can be transferred from subledgers to the general ledger to create journal entries. Standard and customized financial reports are available.

Uploaded by

Bala Ranganath
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 5

General Ledger

Ledger (Book):

Ledger contains the Chart of Accounts, Currency, Calendar and Subledger Accounting conventions.

Ledger name is: ABHAR_Ledger

ABHAR_Ledger

Subledger
Chart of Accounts Currency Calendar
Accounting

Chart of Accounts (COA):

COA indicates Accounting structure of the Company (Abhar wire and Cable Co.).

Chart of accounts created with five segments as,

Chart of Accounts

Company Cost center Account Product Future

Segment Name Length of Segment

1. Company 2

2. Cost center 3

3. Account 6
4. Product 6

5. Future 6

1. Company: Company segment indicates the Balancing entity, where we balance our accounts; here the
total Debit account balances must be equal to total Credits. Here we have only one balancing segment,
which is Abhar wire and cable co.

01 Abhar wire and cable co.

2. Cost Centers: This segment indicates where the company incurring the costs.

ABHAR WIRE & CABLE Group currently has 3 lines (Cost centers) of business all of which are carried out
through one single Legal Entity.

100 Abhar Head Office

200 Abhar Plant Manufacturing

300 Noorin Complex

3. Account: The Account Segment indicates the Nature of the Account; either it is Asset, Liability,
Ownership, Expense or Revenue Account.

100000 Total Assets

200000 Total Liabilities

300000 Ownership Accounts

400000 Total Expenses

500000 Total Revenue

Total Length of the account segment is Six Digits; the six digits separated as three parts and indicate as
follows,

1 First digit Grand Parent Account Asset

01 Two digits Parent Account Values Current Asset

100 Three digits Child or Detailed Accounts Cash

101100 Cash
4. Product: This segment indicates the products of the company.

5. Future: The future segment defines for using, if the company has any requirements in future.

Currency: The Company AW+C., Functional and Reporting currency is IRR.

Calendar: The AW+C., Financial Calendar is as following,

Month Starts from Ends on

M1-11 21- Mar-2010 20-Apr-2010


M2-11 21- Apr-2010 21-May-2010
M3-11 22 –May-2010 21- Jun -2010
(end of
spring)
M4-11 22- Jun-2010 22- Jul-2010
M5-11 23- Jul-2010 22- Aug-2010
M6-11 23- Aug-2010 22-Sep-2010
(end of
summer)
M7-11 23-Sep-2010 22- Oct-2010
M8-11 23-Oct-2010 21-Nov-2010
M9-11 22-Nov-2010 21- Dec-2010
(end of
autumn)
M10-11 22- Dec-2010 20- Jan-2011
(next year)
M11-11 21- Jan-2011 19-Feb-2011
M12-11 20- Feb-2011 20-Mar-2011
(end of
winter)
Adj 20-Mar-2011 20-Mar-2011

The company has total 13 Periods along with one adjustment period.

Subledger accounting convention: Abhar Wire & Cable Co follows double entry Book Keeping and
Accrual method of Accounting.
Period Status:

An accounting period can have one of the following statuses:

Not Opened: This period has never been opened and journal entry and posting are not allowed.

Future: This period is not yet open, but we can enter transactions in this period. However, we cannot
post in this period until open it.

Open: Journal entry and posting are allowed.

Closed: Journal entry, posting, and transaction entry are not allowed unless the accounting period is
reopened, allowed for reporting purpose.

Permanently Closed: Journal entry, posting, and transaction entry are not allowed.

Journals

1. We can create the journals for various balance types Actual, Budget and encumbrance.
2. We can create Both the Currency and STAT journals.
3. We can create recurring and Formulae based journals.

Data Transfer from Subledger to GL:

Transferring information from Oracle subledger is a two-step process:

• Data is pushed into the GL_INTERFACE table from the subledger using a transfer program.
• Then Journal Import pulls the information from the interface table to create valid, postable journal
entries in General Ledger.

When we initiate the transfer program from Oracle subledger, such as Oracle Payables or Oracle
Receivables, we can choose to also submit the Journal Import process. If we do not choose we must run
Journal Import separately in General Ledger, using the Import Journals window, in order to create
postable journal entries.

Data records in Journal, Source and Category wise from subledger. For example we import from
payables the data stores as,

Journal Source Journal Category

For Invoices Payables Purchase Invoices


For Payments Payables Payments
Drilling Down to Subledger from Journal Lines

Drilling down to subledger transaction detail is supported for the following products,

• Oracle Receivables: Sales Invoices, Credit Memos, Credit Memo Applications, Debit
Memos, Chargebacks, Miscellaneous Receipts, Trade Receipts, Rate Adjustments, and Adjustment

• Oracle Payables: Purchase Invoices, Payments, and Reconciled Payments

• Oracle Assets: Additions and Depreciation

• Oracle Purchasing: Receiving and Accrual

• Oracle Inventory: MTL and Work in Process

Reports available in GL:

Standard Reports and Listings:


Oracle General Ledger provides over 70 different standard reports and listings to help we view financial
and non-financial information.

Financial Statement Generator reports:


The Financial Statement Generator (FSG) is a powerful tool that allows us to create custom financial
statements without programming.

We can create various statements like Income statement, Balance sheet, Cash flows according to our
requirement.

You might also like