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What are different period types?
Geek_Nerd
- Apr 22nd, 2016
The most standard period types are :
1. Month
2. Quarter
3. Year
We use these period types when we define the accounting calendar for our organization.Veeranjaneyulu
- Apr 6th, 2016
1 Monthly
2 Quatarly
3 Half yearly
4 Yearly
5 Weekly
6 Daily
But someone give that answers that one related to period status like open, close, never open etc. -
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Can anyone tell me about MRC and Multi-Org?
THIRUPATHI JETTY
- Apr 17th, 2014
MRC:-if you want your primary ledger accounting data in another currency representation will use multiple reporting currency (MRC) for reporting purpose... Multi org:- this is new feature in R12, mu...
mirunalinimiru
- Apr 24th, 2008
Step for the following Multi-Org1.Define Location2.Define Organization3.In Organization Define Legal entity4.Define Operating Unit5.In organization Define Accounting Information, Attach 1. Sob,2.attach Legal entity,3.operating unit
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What is Consolidation in GL?
viren56
- Oct 20th, 2011
Consolidation means : merging the financial data of all subsidiary ledgers(SOBs) into one Parent SOB. STEPS: 1. Run 'Translation' if the subsidiary SOBs have different currency than parent. 2. Defi...
Spice
- Dec 10th, 2007
Consolidation is 'consolidating different books' into the parent company to get a final pictrue of all subsidary and parent companies put to gether. It may be noted that the currency, coa and calender can be different with these sobs
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Intercompany in GL
What is the purpose of Intercompany in GL? Explain purpose of criteria
ajith kumar s
- Nov 9th, 2012
?ntra Company : If any transactions takes place between the branches with in the legal entity is called as Intracompany Inter Company: If any transaction takes place between the branches across the ...
narasimhassk
- Aug 21st, 2012
INTRA :- Transactions with in the same legal entity is called Intra Company Transactions
INTER:- Transactions across the legal entity is called Inter company transactions. -
What you meant Retained Earnings? When the Entries are created and what is the entry?
vikas
- Apr 30th, 2012
Retained earnings derived in Oracle terms as Sum of all Revenue Account Balances - Sum of all Expense Account balances for the accounting year.They are calculated when you close the last period ...
tonyj666
- Mar 31st, 2010
Retained earnings derived in Oracle terms as Sum of all Revenue Account Balances - Sum of all Expense Account balances for the accounting year.They are calculated when you close the last period ...
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What is an Invoice?
Carlos Lopez Campos
- Jun 7th, 2016
It is a document that contains details of receipts (payments) and Shipping (receipts) for payment and collection between commercial entities
viren56
- Oct 21st, 2011
An Invoice is a commercial document issued by seller to buyer indicating the products/ services, quantities and agreed pricess. primary attribute of an AR invoice are: 1. Inv Number 2. Inv date 3. Cur...
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In GL there is no org id. So how can we differentiate the data different operating units when no other modules are given ?
tonyj666
- Mar 29th, 2010
Some background, assume Org id = Operational Unit A GL set of Books may consist of entries from many different Org Id's. Within the AR & AP (the sub-ledgers) the org id and set of b...
oraconsultant
- Jul 24th, 2008
Hi,As per the standard oracle functionality only one operating unit is assigned to GL responsibility. You need to create different GL responsibilities for different operationg UNits If there are multi...
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I am confused about inter company journal balancing.As far as I can tell, it does one or both of:1) If you enable it you *can* post incorrect (i.e. imbalanced) journals. And if you disable it you can't (i.e. all journals must balance - A GOOD THING, RIGHT?)OR2) If you disable it there's no way for you to post between companies. And if you enable it you can (A GOOD THING).Is the setting there so that you can do (2), even though an undesired consequence is you have to accept (1)?From a manager's point of view, is it a good thing or a bad thing?Thanks.(Sorry if this is unclear - it's hard to explain what I mean).
Amol
- Aug 8th, 2016
Hi, I think your confusion is about intracompany transactions, I will try to clarify it. There are 2 types i) Intracompany & ii) Intercompany Your question is is regards to intracompany. Whi...
tonyj666
- Mar 31st, 2010
If you enable intercompany balancing and post an out of balance journal Oracle will create the necessary journal entries to balance. So you can load an out of balance journal but Oracle wil...
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How to import data to General Ledger by Feeder System?
roycbe
- Mar 25th, 2008
There are several ways to import data into GL. It basically depends on the type and size of file among other considerations. Feeder system can be typically taken as - internal transfers - within O...
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What are the journal entries in Procure to Pay Cycle?
chvgupta2001
- May 6th, 2007
When we raise the Purchase Order entry isMaterial in transit a/c Dr To AP Accrual A/cWhen we match the Invoice with POAP Accruals A/c &...
durgesh3
- Nov 21st, 2006
1. On Entry of PO ________ No accounting impact2. On Materil ReceiptReceiving Accural DrAP Accural Cr3. On Completion of Inspection and goods acceptedInventory DrReceiving Accural CrThe Above mentione...
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Calendar
what is the difference between Normal calendar and special calendar?
sreenathreddy.cp
- Mar 7th, 2014
Calendar are two types
1.accounting calendar
2.transaction calendar (optional)
accounting calendar there are two types
1.calendar (normal/regular/general)
2.fiscal calendarmadivalappa
- May 27th, 2009
In GL we can define 2 type of calendars. One is Calendar (normal Calendar)and another Fiscal calendar. Normal calendar uses the year in which an accounting period begin for the system name ....
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What is Budget and Encumbrance ?
James123
- Feb 8th, 2010
Simply a budget is a kind of Reserve kept for future purpose expenses for KNOWN expense overheads. Ex: Stationary, Machinery, Computers, Bonuses..etc. etc.. Whereas Encumbrance&...
peterson1975
- Nov 16th, 2009
A budget is a forecast (estimate) of cost, expenditure or /and revenue for a specified period of time. it may include one or mare accounting years. It is used to major the achievement of the company...
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What types of invoices are there in AP and AR?
kinj84
- Jan 28th, 2008
Accounts Receivable Transactions are:1) Invoices2) Credit Memos3) Adjustments4) Chargebacks
kinj84
- Jan 27th, 2008
Accounts Payable Invoice Types are:1) Invoices2) Credit Memos3) Invoices to Match purchase orders and/or receipts4) Invoices for prepayments or advances5) Invoices for employee expense reports6) Recurring Invoices7) Imported Invoices from another system
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What are the possibilities of having such error
The company has 6 segment in the accounting flexfield01-company values----> 10 -5002-location values----> 02-0503-division values----> 000-07504-cost center values----> 1001-600105-product values----> 00000-9999906-sub ledger values----> 0000-9999now when a journal is been created like journal 1. ...
Danish Jilani
- Sep 3rd, 2011
The company has 6 segment in the accounting flexfield but account number in question has 10 segments. Also the 3rd segment 03-division values----> has values set to 000-075 the "111" will never appear in LOV without defining it.
prasadsmahajani
- Jun 29th, 2011
Your structure does not have a Natural Account Segment....That might be the reason your are getting error...plz chk and post here whether it worked or not
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Explain if translation is necessary when using multi reporting currency?
Narayana Reddy
- Feb 27th, 2013
By Using Translation we can translate number of currencies.
By using MRC we can translate up to 8 reporting currencies only.
roycbe
- Mar 24th, 2008
First let us see what is Translation? Translation is a process that allows you to restate your financial functional currency into a reporting currency.Now let us see, what is MRC? MRC is a unique...
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GL Interview Questions
Ans