Oracle Gl Questions | Currency | Database Transaction


1. What is a flexfield? What are Key and Descriptive Flexfields ?

A flexfield is a field made up of sub–fields, or segments.

Two Types

A.Key Flexfields B. Descriptive Flexfields.

A.Key Flexfields

Key Flexfields is a intalligent key code made up of sections, where one or more parts may have meaning. An intelligent key code uniquiely identifies an object such as on account, an asset, a part or a job. Intelligent keys are useful in applications because they are usually easier for a user to remember and use than a unique number.

B.Descriptive Flexfields

Descriptive flexfields provide customizable ”expansion space” on forms. We can use descriptive flexfields to track additional information, important and unique to the business, that would not otherwise be captured by the form. A descriptive flexfield appears on a form as a single–character, unnamed field enclosed in brackets. Each field or segment in a descriptive flexfield has a prompt, just like ordinary fields.

2.What is the key flexfield name in GL ?

Accounting Key flexfield

3.What is segment? What are the maximum segments that can be there for GL?

A segment is a single sub–field within a flexfield. A segment is represented in database as a single table column.

Maximum 30 Segments

4.How many Flexfield Structures can you create for GL?

In Oracle General Ledger, we can have n no of flexfields structures.

5.What is a value Set ? What are the format types and validation types available in value set ? value set A group of values and related attributes assigned to an account segment or to a descriptive flexfield segment. Values in each value set have the same maximum length, validation type, alphanumeric option, and so on.

Format types:

Character Date Date time Standard Date Standard Date time Time

and determine whether detail posting or budgeting are allowed for a particular value.Validation types: Dependent Independent None Pair Special Table Translatable Independent Translatable Dependent 6. A flexfield qualifier acts as an "identification tag" for a segment. What are the flexfield Qualifiers and Segment Qualifiers available in GL ? Flexfield Qalifiers . A segment qualifier acts as an "identification tag" for a value. segment qualifiers can identify the account type for a natural account segment value.what are flexfield Qualifiers and Segment Qualifiers ? Flexfield Qualifiers A flexfield qualifier identifies a particular segment of a key flexfield. Segment Qualifiers A segment qualifier identifies a particular type of value in a single segment of a key flexfield. 7. It is to identify a particular segment for the purpose like security or computations. In the Accounting Flexfield.

before your flexfield accepts the new combination. Cotrol Account & Reconciliation Flag In Account type : Asset. What is a Roll up group ? Rollup group is to identify a group of parent values for reporting or other application purposes. Account type. What do you mean by Dynamic Inserts ? A feature specific to key flexfields that allows to enter and define new combinations of segment values directly into a flexfield pop-up window.Balancing Segment : Company Natural Account Segment : Account Cost Center Segment : Department Inter Company Segment Secondary Tracking Segment Segment Qualifiers: For Company : Allow Posting & Allow Budgeting For Account : Allow Posting. 10. Ownership/Stockholders Equity & Revenue 8. What are Security Rules and Cross Validation Rules ? How it can be set ? Security Rules . 9. Expenses. The new combination must satisfy any cross-validation rules.Liability. It is used to create summary accounts for reporting purposes. Allow Budgeting.

Cross Validation Rule A cross–validation rule defines whether a value of a particular segment can be combined with specific values of other segments.Segment 2.Cross–validation (also known as cross–segment validation) controls the combinations of values that we can create when we enter values for key flexfields.It is assigned to Chart of account 11.What is Chart of Accounts? What are its pre-requisites? chart of accounts The account structure your organization uses to record transactions and maintain account balances. Assign it to application and responsibility that uniquely identifies the responsibility to which we want to assign security rules. Pre-Requisites for Chart of Accounts 1. Navigate to Security Rules window & Security rules 2. How do you define Parent-Child Relationship for segment values? In segment value enable the parent value.Security Rule to limit the access of different segment values for different responsibilities To assign security rules: 1.define the child range and enter the low high ranges of child value 12.Value Set 3.Flexfield Qualifier .

or a month.4. in open/close window click open the next period push button to open next period To close the period choose close option from the open period lov .What is an Accounting Calender ? Accounting calender is to specify the number of periods in the year for the purpose of transaction and manintaing accounting data 15.Quater 4.Year 3. two weeks.Half month 6. Period types 1.Half yr 5. on which your accounting calendar is based.Segment Qualifier 13. such as one week.Values 5.How do you open and close period in GL? Navigate Open/close.Month 2.Week 14.What are period types? What are period types provided in GL? Period A unit of time.

.such as holidays. Reporting and inquiry allowed. but falls within the range of future-enterable periods designated in the Set of Books window. What is Monetary currency? Monetary currency is a currency which has monetary value Eg: USD. but is not yet future–enterable.INR etc.16. This is the period preceding the first period ever opened in the calendar. Where it is used: It must be assigned for set of books for which averege balancing is enabled to control transcation posting. 18. Permanently Closed: Journal entry and posting not allowed. but posting is not. 17. We cannot change this period status without using the concurrent process to open the period.Period status in GL: Open: Journal entry and posting allowed. What is Transcation calender? This is a calender which determines which days in a week are business days and specifies other non-business days. We cannot change this period status. Closed: Journal entry and posting not allowed until accounting period is reopened.. Reporting and inquiry allowed. Never Opened: Journal entry and posting are not allowed. or to any period that has been defined. Future– Entry: Journal entry is allowed. It cannot be reopened. The period is not yet open.

General Accounting Budgeting Multiple Currencies Inter-company Accounting Cost Accounting Consolidation Financial Reporting 21. 19. Types: corporate reporting spot user Purposes: For Year end Reporting purposes.functional currency vs reporting currency: The principal currency used to record transactions and maintain accounting data within General Ledger is functional currency where as the reporting currency is used for financial reporting. What is the Prerequisites for journal: Period Currency Category Source 22. What are the key functions provided by GL. What the types of conversion rates? A process that converts foreign currency transactions in to functional currency. the foreign currency balances need to be converted into the functional currency balances. 20. What are all Different types journal? .

24. How to do the Journal Import? A General Ledger program that creates journal entries from transaction data stored in the General Ledger GL_INTERFACE table.Reverse journal Tax journal Statistical journal Suspense journal Recurring journal Foreign currency journal 23. How to validate a journal import? How do you track errors during journal import? Validation can be done through -Batch Level Validation -Journal Level Validation -Journal Entry Line Level Validation -Account Validation -Effective Date Validation . Steps in journal import: GL/Journal/Import/Run->Give specific selection criteria using request id and press import.

divisions. Process steps for mass allocation: Formula creation Validatation Generation Submission 26. What is Mass allocation? A single journal entry formula that allocates revenues and expenses across a group of cost centers. What are types of Recurring Journal: Regular Skeleton Formula-statistical Formula-currency . departments. and so on.-Descriptive Flexfield Validation Errors can be tracked through -Batches -Accounts -Reference -Journal lines -Descriptive Flexifields 25.

If you are using encumbrance you can get answer of these two question. Summary accounts. which will lead to a charge against an account. It is used to indicate the purpose or nature of your journal entry. summary account An account whose balance represents the sum of other account balances. Commitment A journal entry you make to record an anticipated expenditure. So. Obligation An encumbrance you record when you turn a requisition into a purchase order. and Intercompany account? Suspense account is a balancing account which is used to post out-of-balance journal entries. 28. • • How much do I have left to spend? Alert me if spending too much from allocated budget. Commitments are tracked to help departments forecast their expenditures so that they do not exceed their budget available. and this should be for an employee or vendor PO's.. . 29 What is meant by encumbrance in oracle application? • • • Encumbrance This is your any pre-expenditure. as indicated by approval of a requisition.What is Suspense accounts.. such as a purchase order.27. Journal Categories: Journal entry categories specify what kind of transaction the journal entry represents.What Are Commitments? Commitments are obligations for future expenditures made . What is meant by Journal Sources and Journal Categories? It is an indicator by which General Ledger identifies and differentiates the origin of journal entries. intercompany account A general ledger account that is defined in an Accounting Flexfield to balance intercompany transactions. Summary accounts is used for faster reporting and inquiry as well as in formulas and allocations. General Ledger automatically posts the journal difference against this account.

An entry is made to record anticipated expenditures of any type. budget is always unaltered. will be based out of these formula Funds Available = Budget . We can create requisition encumbrances and purchase order encumbrances automatically . enter journal ---validate if approval reqd approve it if appvl not reqd While creating the journal source Check the box REQUIRE JOURNAL APPROVAL 32) What is budgetary Control? . Journal entry which dont want contra entry are: suspense journal Encumbrance journal 31) What is Journal Approval? This is a method whereby we set up source of journal which requires approval or validation process. encumbrance type Commitment Obligation Invoice Labour PO Internal trading 30.We can have manual encumbrances also. Encumbrances is reversed when matching to AP invoice.Encumbrances.Actual .How much I left to spend .

4. 8. 9.This is the option used to have control over the amount spent against budgets. The set up steps are in SOB Avg balances tab Check ENABLE AVERAGE BALANCES. 5. Chart of Accounts Account combinations(o) Period types Accounting Calendar Transaction Calendar(o) Currencies Set of Books Assign set of books Currency exchange rate types 34) What is Average Balance Processing The amount computed by divinding an aggregate balance by the number of calendar days in the related range. 7. 35) Budget A predetermined estimate of cost for a task or cost center or a project . 2. 3. 6. Two types Account wise Journal entry source & category as a way of 33) What are the Oracle General Ledger Setups ? 1.

We can define budget orgn for the co then assign the appropriate a/c to each budget orgn. other budget amounts and statistics. Then that budget orgn becomes responsible for entering and maintaining budget data.36) Funding Budget Funding Budget are those budgets in which we enforce budgetary control Non-Funding Budget This budget is used only for reporting purpose where we don't enforce any budgetary control. With Budget formulas we can automatically create budgets using complex equations. 38)Budget Formulas A mathematical expression used to calculate budget amounts based on actual results. calculations and allocations. In SOB level and under budgetary control tab enable budgetary control then all budgets created willl be funding budget by default 37)Budget Organisation An entity (depart or cost center or divisiion or other groups) responsible for entering and maintainng budget data. .

39)Mass Budget MassBudgeting gives you the flexibility to allocate budget amounts to ranges of accounts throughout your organization using simple formulas. . then allocate the a/c code combination and click transfer amounts. Process Steps: GL/Budgets/Define/Mass 40)Diff budget journal and budget amount We use budget journal for funding budget We can have audit trail only if we enter budgets thru budget journals Budget amount is used for non-funding budget 41) How to transfer budgt amounts Under a budget we can opt to transfer budget amount from one orgn to another orgn(account wise also) Gl/Budget/transfer/select the budget from which budget we have to transfer. then choose from budget orgn and TO orgn.

At your request. We can upload budget amounts to your budget orgn from any existing a/c that falls within the a/c ranges assigned to your budget orgn. Once u upload ur budget data u can review the budget spread sheet upload execution report for the status of your uploaded budget infn. 43)Budgetary Control It is an option used to control actual and anticipated expenditure against a budget What is online funds checking Funds check is the process of verifying that sufficient funds are available to cover an expdre. 44) Funds check level Options The Options for budgetary control settings are as follows: Absolute : If this is selected the transactions are rejected unless funds are available .42) Upload Budget We can upload amounts from budgets developed from an outside source (eg spread sheet) and transfer it to the GL Budget Interface table. gl uploads your budget interface data and automatically updates your fincl records to include this budget informtn. The utility used is ADI Application Desktop Integrator.

the system automatically creates encumbrance from requistion . By journal source and category.When you enable budgetary control flag in set of books. We can create budg control groups by specifiying funds check level. 46) what do you meant by encumbrance Accounting ? What are its related setup steps ? what are the types of encumbrance encumbrance An entry made to record an anticipated expenditure of any type the primary purpose of tracking encumbrances is to aviod overspending a budget. amount. 1. 45) Budgetary control group We define one or more budg control groups to attach to sites or users. purchase orders and other transcation from feeder system such as purchase and payable. Setup Step Enable the budgetary control flag for a set of books. together with tolerance %. navtigate to the encumbrance type .Advisory : If this is selected the transactions are approved even when no funds or insufficient funds available (with warnings) None : ------------------------------do------------then all transactions are approved. We can also create additional budgetary control groups to give people different budgetary control tolerances and abilities to override insufficient funds transactions. and an override amount (per journal) allow for insufficient funds transactions.

47 )How do you create encumbrance? you can create encumbrance either manual or automatic 48) How to view funds available for Budget Transcations? 1. Enter the budget Name for the enquiry . Enter the period name for the inquiry 4. enter name and description 3. save your work. 3. you cannot do encumbrance from requisition and purchase order. . obligation : A encumbrance you record when we turn the purchase requisition into purchase. Encumbrance Type lets you classify and track commitment : A encumbrance you record when complete a purchase can still enter manually encumbrance via journal entry. enable encumbrance type 4.2. when you do not enable budget control flag . Navigate to the funds avaiable Inquiry window 2. select an amount type.

Do one of the following: 1. you might want to cancel exisiting requistion and purchase order behind the encumbrance. a) Encumbrance Details Report in oracle Purchasing b) open encumbrance balance with transaction details report. budget . 6. you can view all encumbrance type by entering ALL. choose the find button to query all acounts that meet your selection critieria. Navigate to the funds avaiable region and query a partial or complete account. Identify outstanding encumbrance in oracle Purchasing to determine which encumbrance to cancel or to carry forward. To cancel some or all of these encumbrance and to carry forward encumbrance .5. . Define the MassCancel criteria in oracle purchase to select the encumbrance you want to cancel. and funds available balance in the new fiscal year You can carry forwards encumbrance into the fiscal year. 49) what is year end Encumbrance Processing ? How is it performed? Performing Year .end encumbrance processing Performing year-end processing is to identify outstanding purchase order and requisition encumbrance . 3. if you do not carry forwards encumbrance . Review purchase order and reqisition encumbrance by requesting the following reports. 2. Enter an encumbrance type. 1. 2. To perform year end encumbrance processing.

50) How can you inquire Account Balance? navigation path Inquiry / account by giving the date . 5. order your journal batches so that the posted result of one step are used in the next step of the AutoAllocation set. Request the encumbrance Trial balance Report. open the first period of the fiscal year. open the next budget year. Post all encumbrance . 7. budget . 12.4. 52) what are Statistical Accounts? . open the next encumbrance year 10. Request the encumbrance Trial balance report in general ledger to review in details encumbrance balance and activity for the general ledger accounts before year -end carry forward. and actual journal entries. account number . close the last period of the current fiscal year . 51) What is step-down AutoAllocation? You must create journal batches in a specific sequence when using step -down autoallocation. 11. we can see the account balance for period. 9. 8. carry forward year -end encumbrance. Run MassCancel in oracle purchasing to cancel selected outstanding purchase order and requisition encumbrance. 6.

as well as journal batches. entries .AP and Output tax . lines. or encumbrance balances. and associated journal reference for one or more accounting periods. budget. 53) what are GL Tax Assignments? what are the level of tax calculation? You can assing Input tax ..Defining Statistical Accounts General Ledger lets you maintain statistical as well as monetary balances for any account. The moved / merged balances are added to the existing balance in your target accounts.AR . in some cases you may want to set up separate accounts specifically for statistical information. you might want to enter the units sold statistic in your Sales Revenue and Sales Expense accounts. but enter the square feet statistic in only a single account. for general ledger journal entry level of tax calculation 1) set of books level 2) account level 54) what is Mass Maintenance ? What are the business Rules for Mass Maintenance? use Mass maintenace to move balance by period from one account to another or merger balance by period from multiple accounts into a single account. you can arhieve and purge actual . provided the periods are permanently closed. However. For example. Archieve and purge account balance . for translated actual and budget balances 55) what is Multi-currency accounting ? what are the setup steps? . say the SQFT account. In addition .

That is never shared between applications such as application parameters and LOOK UP tables. Transaction Tables: these tables stores day-to-day transaction data such as payables invoices. rate . CUSTOMER etc. define conversion type . Setup Table : it store setup data. we have set foreign currency in another set of books. This is shared with in each module as well as across all of the Oracle financial application modules ex. application . one for functional currency. currency. . setup step 1) create a another set of books with chart of account . same company will have two set of books . journal entries etc. ACCOUNTS. 56. enable as Reporting set of books 3) Assign the reporting set of books to primary set of books .One set of books will have functional currency. What are the three types tables available in Oracle Applictions Master Table: Store Static data. SUPPLIER. calendar . 10.. ( currency otherthan funtional currency) 2) go to the Multiple Reporting currenies tap . and another foreign currency. when we want Multi-currency accounting .

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