General Ledger

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Oracle General Ledger is part of Oracle Financials, which is part of Oracle's E-Business Suite.

Commonly asked questions

• How to change the Set of Book Name once saved
• How to Transfer Data from Feeder System ie., Payables, Receivables, Fixed Assets to General Ledger
• What is the Use of STAT Journal
• Journal Entry Flow
• How to Enter Inter Company Journal
• Mass Allocation Process
• Mass Budget Process
• What is a Flex Field

A flexfield is a flexible data field that your organization can customize to your business needs without programming. A flexfield is a field made up of sub–fields, or segments. While flexfields do not require programming, they do allow you to perform significant customizations to the Oracle Applications, so they do require enough explanation for you to get the most out of the features they provide.

• Difference between Key Flex field and Descriptive Flex field
• What are all the Key Flex Field Available in oracle application
• What is a Flex field Qualifier
• What is a Value Set
• How many types of Value sets are there in oracle application
• What is the Difference Between Independent and Dependent Value Set
• What is the Difference Between Special and Pair Value Set
• What is a Segment Qualifier
• How to Define Parent and Child Values
• What is Roll-Up group and what is the use of roll-up groups
• What are the types of Calendar in oracle application
• How to Open a Period
• What are all the Period Status available in oracle application
• How to Close a Period and Explain the Steps to Close a Period
• What is a Set of Books
• What are the Parameters needed to define a set of books
• What is a Encumbrance account
• Define Cross Validation and Security Rule and Difference between this
• What is the use of journal Source and Journal Category
• Is it is possible to change the period once a journal is saved ?
• What is the Use of Reverse Journal
• Explain the Step to Enter a Tax Journal and what is the difference between Input Tax Codes and Output Tax Codes
• How to Define a Foreign Currency Journal
• Define various Currency Rate definition available in oracle application
• What is Average Rate, End Rate and Historical Rate
• Explain in Detail about Recurring Journal and it Types and their difference
• What is the difference between a Field and a Flexfield
• What is Dynamic Insert and Combination
• What are the Types of Journals and their Uses
• What is a Batch Journal
• Define the types of Budget
• How to define a budget period
• What is Budget Organization
• How to assign a account to budget
• What is Funding Level in budget
• What is the use of Calculated and Entered in budget
• What is the Use of Maintain Button in Budget
• What is Budgetary Control
• What is the use of Encumbrance in Budget
• What is the Difference between Obligation and Commitment
• Explain the different possibility to enter the budget amount
• How to transfer a budget amt to another budget
• Is possible to Exceed a budget amount in actual transaction incase of Controlled Budget
• How to make a budget as a controlled Budget
• What is the Use of Formula in budget
• Define a Mass Budget and it’s steps
• How to define Tolerance in Budget
• How to Freeze a Budget
• Trial Balance in GL
• Balance Sheet in GL
• What is FSG and what are all the details needed to define a FSG
• What is Revaluation
• What rate is required for revaluation
• What is a Translation
• How to run a revaluation and translation
• Difference between revaluation and translation
• How to view the translated amount
• Explain the Use of Consolidation and it’s steps
• Mapping Process
• Segment Rule in Mapping
• Accounting Rule in Mapping
• What is the use of centra Entry
• How to run a centra journal and explain the steps
• Where to define a parent co., and subsidiary co.,
• Reports in GL