Oracle
Applications / Financials – General Questions for interview or to increase
overall awareness on some of the concepts you already aware and worked upon.
this is terms as refreshing some of those.
Oracle Application – General Interview (Technical
– Functional Questions)
What are different period
types?
You use accounting period types to define your accounting calendar. Different
Accounting Periods are-
1.
General Ledger Periods (attached to Ledger),
2.
Purchasing Periods (Operating Unit Specific),
3.
Cost Periods (Inventory Organization Specific),
4.
AP Periods, and
5.
AR Periods
If it is accounting period types, you can
define your own period types to use in addition to the General Ledger standard
period types Month, Quarter and Year. You use these period types when you
define the accounting calendar for your organization. However the year type
should be either Calendar or Fiscal. We have different Period types-
1) 13 Month (13 Month Calendar with An
Adjusting Period).
2) Annual.
3) Monthly.
4) Quarterly.
5) Semi Monthly.
6) Weekly.
What types of invoices are there in AP and AR?
Types of Invoices are:
·
Standard
·
Credit Memo
·
Debit Memo
·
Expenses Report
·
Prepayment
·
Mixed
·
AWT (Automatic Withholding Tax Invoice)
·
Interest Invoice
·
PO Default
·
Quick Match
·
Mixed
·
Recurring Invoice
·
Arrears Invoice
·
Advance Invoice
·
Guarantee
·
Charge Back
·
Deposit
What is the difference
between cross-validation rules and security-rules?
Cross validation rules prevent all the
responsibilities/users entering invalid account combinations. Security rules
are attached to specific responsibilities to prevent using few of the segment
values for a segment. Cross Validation Rule: Rules that define valid
combinations of segment values a user can enter in an account. Cross-validation
rules restrict users from entering invalid combinations of account segment
values. Security Rule: It determines the accounting transaction user can view
at different levels of hierarchy, such as at Site Level –>Application Level
–> Responsibility Level –> User level. Cross Validation Rule applies
across the chart of account where Security Rule is applicable at Responsibility
Level or User Level. Cross Validation Rules are meant for defining the set of
combinations that are excluded from the global set whereas Security Rules are
to restrict Users/Responsibilities. Cross-Validation Rules are to control the
certain code combinations. Security Rules are to control the certain segment
values.
How many ways can you enter a journal in GL?
1. Manual entry 2. Subledger Entry 3.
Spreadsheet Entry 4. Recurring Entry 5. Mass Allocation
What is a recurring
invoice?
Recurring Invoice is a type of invoice which
occurs at definite intervals of time. The best example for a recurring invoice
is Rent paid to the Owner.
What are the general setup steps for AP, AR, and
GL?
For GL:
·
Define Chart of Accounts2. Define Calendar
·
Define Currency
·
Create Set of Books
·
For AP:
·
Define Suppliers (Creditors)
·
Invoice
·
Look up codes
·
Selection of Set of Books
·
Payment Terms
·
Financial & Payable Options
·
Define Banks
For AR:
·
Flexifield
·
System Options
·
Payment Terms
·
Open period
·
Auto Accounting
·
Transaction Type
·
Transaction Source
How do we integrate AP or AR to GL ?
There is a program in payables to transfer AP
to GL is “payables transfer to general ledger” GL is like AR->GL<-AP, AR
and AP both transfer the data in GL. AR Contains all Invoices/Receipts /CM/DM and
same way AP also have AP Vouchers. Yes, there is a clear Integration of AP/AR
with GL.
The integration is
like this: all the accounting created in subledgers (AP/AR) are transferred to
Gl. The journal created from AP/AR are clearly identified in GL according to
their batch names and journal names.
What is the difference
between GL date and GL posted date in GL ?
GL date is the date
used to determine the correct accounting period for your transactions where as
the GL posting date is the date when the journal entry is posted the GL. GL
date is the date used to determine the correct accounting period for your
transactions where as the GL posting date is the date when the journal entry is
posted the GL, also Called Transaction Date & Posted Date.
In GL there is no org id.
So how can we differentiate the data different operating units when no other
modules are given ?
HR data is at business group level. GL Data is
differentiated based on set of books id. AP and AR data is mostly at operating
unit level. Inventory, BOM, WIP data is at inventory organization level. In the
gl_sets_of_books we have the set_of_books_id column. This column is enough to
differentiate between one operating unit with the other. If you see the
multiorg structure of Oracle Apps modules, we’ll see that GL is setup at set of
books level. Now you generally won’t get data at OU level. OU data sums up at a
higher SOB level. Please follow the below structure if you want more
clarification top->bottom HR org->SOB->OU->inventory org
At what stage, the subledger data is posted to
GL?
When Transactions are completed in subledgers
data may be posted to GL Basically after entering the transactions, report will
be taken to verify the transactions. In case, if approval is needed, it is
approved after verifying the transactions. Once you are sure that the
transactions are correct, the same can be posted to GL. Once it is posted, most
of the information for the posted transaction can not be modified in the
subledger. In case of any wrong entry, you need to follow the reversal
procedure. Practically, the verification of transactions are done only during
the initial stages after implementation. Once the system becomes stable, it is
not followed strictly. Note: Make sure that GL period is open for the
transaction GL date. Close all the periods in subledger after you reconciled
all your transactions. Once you close the period, sweep program will run and
all the un-posted and future entries will be transferred to next open period.
Once this is done run the GL Transfer program and Journal import programs to
complete the transaction transfer process. Once this is done you will find
un-posted journal entries in GL you can post the same or reverse the same if
you find something is missing. GL periods should also been opened and the GL
period should be closed at the last.
Why cant interest rates are set uniquely supplier
wise in payables module, whereas interest rate is applied to all suppliers the
same rate?
Terms and conditions differ with each
supplier.
What is FSG and its use?
Financial Statement Generator is a powerful
report building tool for Oracle GL. FSG is used by the management for the
decision making in the financial sector of the firm or an enterprise.
Uses of FSG :1.
Generate financial reports such as income statements and balance based upon the
data in your GL.
Note: If you have
average balance processing enabled in your set of books, you can report on
functional, foreign–entered, or translated average balances.
2. Define your reports
with reusable report objects, making it easy to create new reports from the
components of reports you’ve already defined. 3. Design custom financial
reports to meet specific business needs.
4. Print as many
reports as you need simultaneously.
5. Print the same
report for multiple companies, cost centers, departments in the same report
request.
6. Schedule reports to run automatically.
7. Produce ad-hoc reports whenever you need
them.
8. Print reports to tab-delimited files for
easy import into client-based spreadsheet programs. In addition, you can use
the Report Wizard feature of Applications Desktop Integrator to design and
submit your financial reports, as well as view the results, directly from a
spreadsheet. 9. Define segment value security rules to restrict financial
information contained in FSG report output generated by specific users and
responsibilities. Note: To apply segment value security rules, the profile
option FSG: Enforce Segment Value Security must be enabled
Explain ADI and its features?
ADI means application desktop integrator. It
is a excel file which allows you to transfer the data pertaining to General
Ledger, Fixed Assets and Budget to oracle apps and allows to run a request. ADI
functionality provides an alternative to users who prefer to load information
directly from Microsoft Excel rather than using the Oracle user interface. It
should read Oracle Interface Programs (batch jobs) rather than Oracle User
Interfaces. Broadly following are the feature / elements of ADI
·
Journal Wizard
·
Budget Wizard
·
Report Wizard.
·
Account Hierarchy Editor.
·
Analysis Wizard.
·
Request Center
ADI allows users take advantage of many of the
data-entry shortcuts of a spreadsheet, such as copying and pasting cells,
dragging and dropping ranges of cells and using formulas to calculate journal
line amounts. ADI validates the data entered against the accounts, security
rules and reference information that are defined in the General Ledger (GL).
What is EDI and its functions?
EDI – Electronic Data Interchange, to send the
data to another server/destination via EDI server.E-Commerce Gate Way
is the one of the Module in Oracle Apps. EDI (Electronic Data Interchange) is
way of exchanging the Business documents like Sales Order, Invoice, PO etc.,
between two business entities in agreed standard format like ASCII X12 format.
In oracle application, business documents may be referred as 850POI (purchase
order Inbound), 810INO (Invoice Outbound) etc.. There are several third party
sources are available which may be use in mapping of several documents from
Oracle Format to X12 and vice versa. Some of them like Sterling Commerce, Klein
Schmidt…. EDI is a toll where in whenever the customer is sending the PO it
gets saved in this toll, again when the supplier after supplying the material
will send an invoice through EDI, wherein the EDI of the customer will match
the PO with the invoice and the invoice will get processed automatically, in
case if it is not matching it will be in the error sheet
You use accounting period types to define your accounting calendar. Different Accounting Periods are-
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