Page 1 of 259What is Oracle Financials? Oracle Financials products provide organizations withsolutions to a wide range of long- and short-term accounting system issues.Regardless of the size of the business, Oracle Financials can meet accountingmanagement demands with:• • • • • • • • • •Oracle Assets: Ensures that an organization's property and equipment investment isaccurate and that the correct asset tax accounting strategies are chosen. OracleGeneral Ledger: Offers a complete solution to journal entry, budgeting,allocations, consolidation, and financial reporting needs. Oracle Inventory: Helpsan organization make better inventory decisions by minimizing stock and maximizingcash flow. Oracle Order Entry: Provides organizations with a sophisticated orderentry system for managing customer commitments. Oracle Payables: Lets anorganization process more invoices with fewer staff members and tighter controls.Helps save money through maximum discounts, bank float, and prevention ofduplicate payment. Oracle Personnel: Improves the management of employee- relatedissues by retaining and making available every form of personnel data. OraclePurchasing: Improves buying power, helps negotiate bigger discounts, eliminatespaper flow, increases financial controls, and increases productivity. OracleReceivables:. Improves cash flow by letting an organization process more paymentsfaster, without off-line research. Helps correctly account for cash, reduceoutstanding receivables, and improve collection effectiveness. Oracle RevenueAccounting Gives an organization timely and accurate revenue and flexiblecommissions reporting. Oracle Sales Analysis: Allows for better forecasting,planning. and reporting of sales information.What is the most important module in Oracle Financials? The General Ledger (GL)module is the basis for all other Oracle Financial modules. All other modulesprovide information to it. If you implement Oracle Financials, you should switchyour current GL system first.GL is relatively easy to implement. You should golive with it first to give your implementation team a chance to be familiar withOracle Financials. What is the MultiOrg and what is it used for? MultiOrg orMultiple Organizations Architecture allows multiple operating units and theirrelationships to be defined within a single installation of Oracle Applications.This keeps each operating unit's transaction data separate and secure. Use thefollowing query to determine if MultiOrg is intalled: select multi_org_flag fromfnd_product_groups; What is the difference between Fields and FlexFields? A fieldis a position on a form that one uses to enter, view, update, or deleteinformation. A field prompt describes each field by telling what kind ofinformation appears in the field, or alternatively, what kind of informationshould be entered in the field. A flexfield is an Oracle Applications field madeup of segments. Each segment has an assigned name and a set of valid values.Oracle Applications uses flexfields to capture information about yourorganization. There are two types of flexfields: key flexfields and descriptiveflexfields.