New Features in Oracle Fusion Receivables

Smart Receipt

Fusion Receivables continue to support auto lockbox but also enhanced to apply receipt automatically using Smart Receipt. Smart Receipt functionality is extended to the receipt that are created manually or uploaded (excel)

Excel Based Receipt Entry

• Quickly create and updates customer receipt
• Increases User ability to process payment
• Send spreadsheets to reviewers and approvers

Efficient Receivables to GL Reconciliation

• Quick reconciliation to GL and fast period ending and book closure
• Exceptions are automatically defined.
• Swift investigations at differences in balances with drilldowns.

Recurring Billing

Recurring Billing captures customer bill plan information with recurring billing details and automatically generates recurring transactions at periodic intervals based on the plan. You can modify bill plan attributes for future transactions and review bill plan historical changes. After generating the transactions, you can review them.

Oracle Fusion P2P Process

Oracle Fusion Procurement is part of Oracle Fusion Applications, which are completely open, standards ­based enterprise applications that can be easily integrated into a service­ oriented architecture. Designed as a complete suite of modular applications, Oracle Fusion Applications help you improve performance, lower IT costs, and get better results. Whether you choose one module, a product family, or the entire suite, Oracle enables you to gain the benefits of Oracle Fusion Applications at a pace that matches your business needs.

Fusion Financials and Procurement are a part of Oracle Fusion ERP Applications which derive the business process capabilities from best of breed Oracle ERP packages along with cloud benefits. The in-built reporting platform enables Finance and Procurement professionals with business intelligence abilities. Fusion applications intend to simplify the business processes and technology requirements, enhance the ROI of IT expenditure, get both the internal and external stakeholders collaborate and finally ensure the policy enforcement and financial control.  

Oracle Fusion Procurement is a modular suite of procurement applications designed to work as a complete procurement solution or as modular extensions to your existing procurement applications portfolio.

The key Fusion functionalities for different processes of the Procure-to-Pay cycle are:

• In-built intelligence with business transactions–Role based dash boards and work area for buyer, approver; presenting the statistical report, trend, spend analysis, personalized search capability

• Enhanced Smart Sourcing–Supplier analysis, visibility of supplier lead time and popularity across departments. Oracle Fuson provides the Uncover savings opportunities, Prioritize procurement actions and  Negotiate enforceable agreements.Oracle Fusion Procurement also makes it easier to capitalize on opportunities. It provides integrated sourcing and contract management to help negotiate enforceable agreements. By integrating e­sourcing with universal contract standards, a universal contract repository, and universal search, it provides visibility into contracts while standardizing collaboration and compliance

• Supplier self-service-– Single log-on for supplier providing complete visibility to their transactions and full invoicing capability

• Standardized processes — to facilitate shared services model and centralized procurement function

• Smart Receipt capabilities—  Automatic receipt application engine, Over/Under payment rules, Scored recommendations based on customer, transaction or exceptions, centralized approach for receipt processing, setup rules to match receipt to the specialist for manual intervention and rules to mark the priority of the receipt based on attributes

• Payable dashboard–to collaborate with various participants, visibility of priority items and work volume, item tagging option for quick retrieval

• Invoice Work Area— Invoice creation from scanned images, exception resolution, Invoice creation in a format based on real life physical invoice offering easy data entry and audit

• Integrated invoice image processing—  image attached with the invoice throughout invoice life-cycle

• Invoice indicators–Out of balance, status and hold, prepayment alert during entry

• Voucher matching — with the receipt and PO in the same window

• Personalized view— Excel like capability to freeze columns, personalized search, full screen view, export to excel

One of the best characteristics of the Oracle Fusion applications is that these can be fully integrated with traditional Oracle ERP solutions like PeopleSoft, Oracle EBS. So the existing Oracle customers can choose to implement module wise and selective Fusion functions too.

It provides additional Business Value for Your Existing Applications Oracle Fusion Procurement modules are designed to work side by side with existing Oracle Applications with minimal implementation effort or disruption. Oracle Fusion Procurement’s analytics, sourcing, and contract management capabilities provide an opportunity to power shared services with revolutionary new capabilities while keeping your existing procurement applications in place

With the in-built business intelligence capabilities and business benefits of cloud based applications; Oracle Fusion financials and procurement definitely equip the finance and purchasing users to play a bigger role and add value in overall business achievements.

Oracle Fusion Financials

Oracle Fusion Financials Interview Questions

Why define an Enterprise in Oracle Fusion Financials?

Define the enterprise to get the name of the deploying enterprise and the location of the headquarters.

Why to define Enterprise Structures in Oracle Fusion Financials?

Define enterprise structures to represent an organization with one or more legal entities under common control. Define organizations to represent…

Why to define Legal Jurisdictions and Authorities in Oracle Fusion Financials?

Define information for governing bodies that operate within a jurisdiction.

Why to define Legal Entities in Oracle Fusion Financials?

Define legal entities and legal reporting units for business activities handled by the Oracle Fusion Applications.

Why to define Business Units in Oracle Fusion Financials?

Define business units of an enterprise to perform one or many business functions that can be rolled up in a…

Why to define Financial Reporting Structures in Oracle Fusion Financials?

Define financial reporting structures, including organization structures, charts of accounts, organizational hierarchies, calendars, currencies and rates, ledgers, and document sequences…

Why to define Chart of Accounts in Oracle Fusion Financials?

Define chart of accounts including hierarchies and values to enable tracking of financial transactions and reporting at legal entity, cost…

Why to define Ledgers in Oracle Fusion Financials?

Define the primary accounting ledger and any secondary ledgers that provide an alternative accounting representation of the financial data.

Why to define Accounting Configurations in Oracle Fusion Financials?

Define the accounting configuration that serves as a framework for how financial records are maintained for an organization.

Why to define Facilities in Oracle Fusion Financials?

Define your manufacturing and storage facilities as Inventory Organizations if Oracle Fusion tracks inventory balances there and Item Organizations if…

Why to define Reference Data Sharing in Oracle Fusion Financials?

Define how reference data in the applications is partitioned and shared.

What is an Enterprise Structures Configurator in Oracle Fusion Financials?

The Enterprise Structures Configurator is an interview-based tool that guides you through the process of setting up a basic enterprise…

What are Divisions in Oracle Fusion Financials?

A division refers to a business-oriented subdivision within an enterprise, in which each division organizes itself differently to deliver products…

What are Reference Data Sets and Sharing Methods in Oracle Fusion Financials?

Oracle Fusion Applications reference data sharing feature is also known as SetID. The reference data sharing functionality supports operations in…

What is Geography Structure in Oracle Fusion Financials?

Firstly, you need to create a geography structure for each country to define which geography types are part of the…

What is Geography Hierarchy in Oracle Fusion Financials?

Once the geography structure is defined, the geographies for each geography type can be added to the hierarchy. For example,…

How Geography Validation works in Oracle Fusion Financials?

After defining the geography hierarchy, you need to specify the geography validations for the country. You can choose which address…

How Geography Structure, Hierarchy, and Validation fit together in Oracle Fusion Financials?

There are three components that are dependent on each other when defining a country: geography structure, geography hierarchy, and geography…

Can I add any geography to the geography hierarchy in Oracle Fusion Financials?

Yes. however, the geography type for the geography that you want to add must be already added to the country…

Can I edit a specific geography in the geography hierarchy in Oracle Fusion Financials??

Yes. In the Manage Geography Hierarchy page you can edit details such as the geography's date range, primary and alternate…

When do I define address cleansing in Oracle Fusion Financials?

When address data entered into the application needs to conform to a particular format, in order to achieve consistency in…

Why can't I delete a level of the country geography structure in Oracle Fusion Financials??

If a geography exists for a country geography structure level then you cannot delete the level. For example, if a…

What are Legal Entities in Oracle Fusion Financials?

A legal entity is a recognized party with rights and responsibilities given by legislation. Define a legal entity for each…

What rights and responsibilities Legal entities have in Oracle Fusion Financials?

Legal entities have the following rights and responsibilities to: 1. Own property 2. Trade 3. Repay debt 4. Account for…

What is the Role of Your Legal Entity in Oracle Fusion Financials?

In configuring your enterprise structure in Oracle Fusion Applications, the contracting party on any transaction is always the legal entity.…

What is the importance of using legal entity on transactions in Oracle Fusion Financials?

1. Legal entity and its relationship to business units 2. Legal entity and its relationship to divisions 3. Legal entity…

Describe Legal Entity and Its Relationship to Business Units in Oracle Fusion Financials?

A business unit can process transactions on behalf of many legal entities. Frequently, a business unit is part of a…

Describe Legal Entity and Its Relationship to Divisions in Oracle Fusion Financials?

The division is an area of management responsibility that can correspond to a collection of legal entities. If wanted, you…

Describe Legal Entity and Its Relationship to Ledgers in Oracle Fusion Financials?

One of your major responsibilities is to file financial statements for your legal entities. Map legal entities to specific ledgers…

Describe Legal Entity and Its Relationship to Balancing Segments in Oracle Fusion Financials?

Oracle Fusion General Ledger supports up to three balancing segments. Best practices recommend one segment represents your legal entity to…

Describe Legal Entity and Its Relationship to Consolidation Rules in Oracle Fusion Financials?

In Oracle Fusion Applications you can map legal entities to balancing segments and then define consolidation rules using your balancing…

Describe Legal Entity and Its Relationship to Intercompany Transactions in Oracle Fusion Financials?

Use Oracle Fusion Intercompany feature to create intercompany entries automatically across your balancing segments. Intercompany processing updates legal ownership within…

Describe Legal Entity and Its Relationship to Worker Assignments and Legal Employer in Oracle Fusion Financials?

Legal entities that employ people are called legal employers in the Oracle Fusion Legal Entity Configurator. You must enter legal…

Describe Legal Entity and Payroll Reporting in Oracle Fusion Financials?

Your legal entities are required to pay payroll tax and social insurance such as social security on your payroll. In…

What's a legal employer in Oracle Fusion Financials?

A legal employer is a legal entity that employs workers. You define a legal entity as a legal employer in…

What's a payroll statutory unit in Oracle Fusion Financials?

Payroll statutory units are legal entities that are responsible for paying workers, including the payment of payroll tax and social…

What are Business Units in Oracle Fusion Financials?

A business unit is a unit of an enterprise that performs one or many business functions that can be rolled…

What are the advantages that business unit model provides in Oracle Fusion Financials?

1. Enables flexible implementation 2. Provides consistent entity that controls and reports on transactions 3. Shares sets of reference data…

Describe Business Unit Security in Oracle Fusion Financials?

A number of Oracle Fusion Applications use business units to implement data security. You assign roles like Accounts Payable Manager…

Describe Business Functions in Oracle Fusion Financials?

A business function represents a business process, or an activity that can be performed by people working within a business…

List out the business functions that generate financial transactions and will require a primary ledger and a default legal entity in Oracle Fusion Financials.

1. Billing and revenue management 2. Collections management 3. Customer payments 4. Expense management 5. Materials management 6. Payables invoicing…

Why did the newly added ledger and legal entity not show up in the list when assigning business functions in Oracle Fusion Financials?

When assigning the business functions, the list of values for the Primary Ledger and default Legal Entity are empty or…

Oracle E-Business Suite General

Oracle E-Business Suite General

Oracle E-Business Suite Interview Questions

What is meant by "Child Segment Value"?A detail-level segment value that is part of a parent segment value.

What is meant by a "Child Request"?A concurrent request submitted by another concurrent request (a parent request.) For example, each of the reports and/or programs in…

What is meant by a "Combination Block"?A combination block displays the fields of a record in both multi-record (summary) and single-record (detail) formats. Each format appears…

Explain the term "Concurrent Manager" and its main usage.A unique facility that manages many time-consuming, non-interactive tasks within Oracle Applications for you, so you do not have to…

What is meant by a "Concurrent Request"?A non-interactive task that you request Oracle Applications to complete. Each time you submit a non-interactive task, you create a…

What is "Concurrent Processing"?Allows a single processor to switch back and forth between different programs.

What is meant by a "Concurrent Queue"?A list of concurrent requests awaiting completion by a concurrent manager. Each concurrent manager has a queue of requests waiting…

What is a "Content Set"?A report component you build within Oracle Applications that defines the information in each report and the printing sequence of…

What is a "Context Sensitive Segment"?A descriptive flexfield segment that appears in a second pop-up window when you enter a response to your context field…

What is a "Control File" and where do you use it?A file used by SQL*Loader to map the data in your bank file to tables and columns in the Oracle7…

What is meant by a "Dependent Segment"? Explain with an example.An account segment in which the available values depend on values entered in a previous segment, called the independent segment.…

What is "Descriptive Flexfield", and why is it required?A field that your organization can extend to capture extra information not otherwise tracked by Oracle Applications. A descriptive flexfield…

What is a "Distribution List" in Oracle Alerts?A distribution list is a set of mail names to whom Oracle Alert sends a message when it finds an…

What is a "Distribution Set"?A predefined group of general ledger accounting codes that would determine the debit accounts for other receipt payments. Oracle Applications…

What is "Document Sequence" in Oracle Applications and why is it used?Used to uniquely number documents created by Oracle Applications. A Document Sequence has a sequence name, initial value and a…

What are "Document Sets" in Oracle Shipping?A grouping of shipping documents that you can run from the Confirm Shipments form.

What is "Document Sequence" in Oracle Applications and why is it used?Used to uniquely number documents created by Oracle Applications. A Document Sequence has a sequence name, initial value and a…

What are "Document Sets" in Oracle Shipping?A grouping of shipping documents that you can run from the Confirm Shipments form.

What is "Dynamic Distribution" in Oracle Alerts?A distribution that includes at least one recipient whose electronic mail ID is represented by an alert output. Oracle Alert…

Describe the term “account combination”.A unique combination of segment values that records accounting transactions. A typical account combination contains the following segments: company, division,…

What is meant by an “accounting currency”?In some financial contexts, a term used to refer to the currency in which accounting data is maintained. In this…

What is meant by an “accounting transaction”?A debit or credit to a general ledger account.

Explain the term "Concurrent Request".A request to Oracle Applications to complete a non-interactive task for you. You issue a request whenever you submit a…

what are “commitment transactions”? give one example of a commitment transaction that gets reported in oracle projects.Anticipated project costs for which procurement documents or invoices have been issued, but goods or services have not been received.…

General Ledger- Questions & Answers

General Ledger- Questions & Answers

1. What are the application objects that support View Accounting and Drilldown?
GL_Import_Reference_Table (modified) For Example Invoices imported from Payables into GL goes to these tables from GL_Inerface table.
GL_SL_LINK_ID
GL_SL_LINK_TABLE
GL_JE_LINES (modified)
GL_SL_LINK_ID
GL_SL_LINK_TABLE

New views in the database:
FA_AEL_GL_V
FA_AEL_SL_MRC_V
FA_AEL_SL_V


2. Where in Oracle General Ledger 11i can Drilldown be accessed?
You can drilldown from GL Account Inquiry window and the GL Journal Entry and GL Journal Inquiry windows.

(N) Tools -> Drilldown Open the Journal entry in GL and go to Tools - drilldown, its shows u the origin of the journal entry. It is used only for viewing the origin of the journal entry.


3. What are the Release 11i Sub-ledger drilldown features?
Expanded Subledger drilldown to other subledgers.
View Accounting Lines window.

4. What are recurring invoices? What are AP setup steps?
Some times suppliers would not be sending any invoices, but still the payment have to be made to him. Ex: rent, lease rentals. In this situation we have to create invoice every period wise. For that purpose we have to create one recurring invoice template. Template means with one master copy creating the multiple invoices. Here we are creating the one invoice master copy is formally known as recurring invoice or recurring invoice template.

Setup: 1) Create one special calendar
2) Create one full distribution set
3) Enter payment terms in the recurring invoice window
4) Enter the template no., first invoice amount, special invoice amounts.

Recurring Entries are of 3 types-
1. Standard,
2. Skeleton,
3. Fornulae Based
In GL Module
1.Define Formula Batch (e.g. ABC Rent batch)
2.Enter Lines (Here u have both Debit as well as Credit lines)
3.Generate Recurring period
4.Review Journal Batch
5.Post the batch

1. Standard Recurring Journal: It is used for same accounts & same amounts e.g.
Utilities Dr
Cash Cr
2. Skeleton Recurring Journal: It is used for same accounts but for different amounts, e.g.
Recurring Fee Dr
Cash Cr
3.Formule Based Journal: It is used for different accounts with different amounts, e.g.
Salaries Dr
Cash Cr


5. If any conflict occurs in FSG who will override; Column Set or Row Set?
The override component is row set. However some times it depend on the column set also.


6. What is the difference between discounts and adjustments? 
Discount refers to the payment terms or on quantity (bulk order discount) ordered. In the invoice received from supplier, discounts term is specifically stated, e.g. “If paid with in 15 days discount @ 2%”, what you need to do is pay 2% less then the original invoice amount, however caution should be taken that the freight amount should not be considered while calculating the discount. Adjustment could be for various reasons- Over priced invoice, short delivery of quantity as per goods received note, poor quality etc. Agreed upon amount will be deducted from the invoice, while making the payments.

In AR, discount is given to promote the business and cash flow. Adjustments are made to adjust the account balances, which is not possible in other means.


7. What are cycles of GL, AP, and AR? 
GL Accounting cycle can be further elaborated like this...
1. Open Period.
2. Create Functional and foreign journal entries.(including the journal import from legacy systems and subledgers).
3. Reverse journal entries.
4. Post the journals.
5. Review and correct the balances.
6. Revalue foreign currency balances.
7. Translate foreign currency balances.
8. Consolidate set of books.
9. Run accounting reports.
10. Close the accounting periods.

AP cycle -------- Purchase Order --> Receipt --> AP voucher --> Payment made
AR Cycle --------Sales Order --> Shipment --> Invoice --> Payment receipt
GL cycle -------- Direct GL JE / Transfer subledger data to GL --> Post


8. What are Summary Accounts and Rollup groups?
Summary Account is an account whose balance represents consolidation of accounts
Rollup group is a collection / consolidation of parent accounts. e.g. Assets is a total of Current assets and Fixed Assets. Current assets / Fixed assets in turn are collection of assets.

Summary Account is an account whose balance represents the sum of other account balances. You can use summary accounts for faster reporting and inquiry as well as in formulas and allocations.
Rollup group is a collection of parent segment values for a given segment. You use rollup groups to define summary accounts based on parents in the group. You can use letters as well as numbers to name your rollup groups.

Summary accounts are consolidated balances of accounts and rollup groups is collection of parent accounts.


9. What Sub-ledgers does Oracle General Ledger 11i Drilldown support? 
Accounts Receivable, Accounts Payable and Cash Management
Drilldown from Oracle General Ledger 11i also supports Oracle Purchasing module (displays POs and Requisitions) from 11.5.9 version onwards.
Drilldown from Oracle General Ledger 11i is supported for Oracle Payables, Oracle Receivables, Oracle Assets (except depreciation), Projects, Purchasing, Inventory, and Work in Process (WIP).


10. What are different types of Journal entries? 
There are 5 types of journal entries-
1. Manual Journal,
2. Recurring Journal,
3. Allocation Journal,
4. Budget Journal, and
5. Imported Journals from other sub ledgers.

There are 4 types of journal entries-
1. Basic Journal Entry - Used for most of the accounting transactions
2. Reversing JE - Created by reversing the existing journal entry
3. Recurring JE - Defined once and then generated for subsequent accounting period
4. Mass Allocation - Created to allocate the revenues and assets to a group of resources (cost centers, departments, divisions, etc.) from a single Journal.

Actual,
Budget,
Encumbrance,
Suspense,
Tax,
Reverse,
Formula,
Statistical, and
Recurring.


11. What is Set of Books? What are the four conditions when you change your SOBs?
Set of books are created keeping in mind the 'Accounting Structure". This is a combination of 3 'Cs' - Chart of Accounts, Currency and Calendar. Chart of Accounts is made up of segments-
Max of 30 Segments are allowed.
Two Segments are mandatory - Balancing and Natural segment
Calendar –This can have a max of 365 periods (daily calendar) and a min of 1 period (Yearly calendar). Periods can be monthly, fortnightly, weekly, daily.

SOB is of 2 types - Primary and Reporting.
Primary SOB - All transactions are with functional Currency
Reporting SOB - All transactions are with foreign Currency

You have to assign your SOB to your responsibility.

Set of book means linking between the 3cs i.e. chart of accounts, calendar, currency and maintain 5 mandatory accounts


12. What is an Invoice?
AR invoice is a document sent to the customer with details like, Bill-to customer code, product code, qty sent, price, currency, credit terms, tax details, etc. Based on this invoice, customer will make payment to the company and the same is applied against the invoice.
AP invoice is the document received from the supplier and contains information such supplier details, product code, qty, price and tax details. This invoice is entered in the AP module and payment is made to the supplier against this invoice.

There are 2 types of invoices-
1. Periodic
2. Milestone

Also, Invoice is an information sheet which a company sends to the buyer along with the good. It explains the details of the goods in the shipment and also the prices. Invoices can contain all sorts of data regarding the shipment and goods depending on the company and product.


13. Can you disable budgetary control for a set of books?
You can, however existing encumbrances are not cleared from the feeder systems. Therefore it is not recommended. If you do change the budgetary control options for an existing set of books, you must do two things for the change to be reflected.
--Run the Period Map Maintenance concurrent request, it must complete successfully.
--Exit Oracle Applications and restart. You must completely exit the application...it is not sufficient to select Sign on again from the Oracle Applications Special menu.


14. Is there a limit to the number of periods in a budget year or how many years a budget can span?

There is no limit for the budget. One can define budgetary control for n number of years however, one year can have maximum of 60 fiscal periods.


15. Why don't my Detail budgets roll up to my Master budget?

Detail budgets do not automatically roll up to the master budget. The GL uses summary accounts to maintain master/detail budget relationships between them.


16. I was able to post a budget journal to a closed period, why?

Yes, a budget journal can be posted to any period that is in an open budget year for that budget. This is regardless of the status of that period. The budget journal is not linked with your accounting period. Once you have open the budget period then you can book budget journal for that whole period.


17. How many 'Current' budgets can you have?

For each set of books, you can have only one current budget at any point in time. The only distinction between a 'current' and an 'open' budget is that the current budget defaults into the budget field on several budget-related forms. It can be replaced however by any 'open' budget in the field.


18. What is a funding budget?

Funding budget is a budget against which accounting transactions are checked for available funds when budgetary control is enabled for your set of books. Funding Budgets are approved budgets.
Two types of budgets are there in Oracle Apps:
1- Fund 2- Plan.
Fund budget create the Budget Journal but plan budget used only for planning. Fund budget requires journal entries, and is assigned to a summary template or account range in the budget org, where the funds check level is set at Absolute or Advisory. It is the assignment that makes it a 'funding budget’; it is not done at the budget definition level.


19. Why is my budget requiring budget journals?

At the set of books level that option is not enabled? This would happen when the budget itself is defined to require budget journals. This is done at the budget definition level.


20. Why can't I inquire on my budget amounts from INQUIRE/BUDGETS navigation path?

The Budget Inquiry form (GLXIQBUD) is used to perform inquiries about master and detail budgets. GL compares summary balances between your master and detail budgets, and checks for budget variances and violations. This form only looks at summary accounts. To inquire on detail accounts you must use the navigation INQUIRE/ACCOUNTS, and choose the 'budget' amount type.


21. If I delete my budget org, will the budget amounts be deleted?

No, the amounts will be same. Deleting the budget organization does not remove the budget amounts from the GL_BALANCES table.


22. Can I update/adjust an existing account range in my budget organization?

Yes you can update an existing account range in Budget Organization.


23 How many times can a budget be purged?

Budget can be purged only one time.


24. Why is there no value in the REQUEST_ID column of GL_BUDGET_INTERFACE for rows with data that failed to be uploaded by the Budget Spreadsheet Upload program?
You are trying to open the next budget year. After navigating to the form and querying the budget, you notice the [Open Next Year] button is grayed out. You find that Account code combinations are not being added to the Budget Organization.


25. Why don’t my Detail budgets roll up to my Master budget?

Detail budgets do not automatically roll up to the master budget. The GL uses summary accounts to maintain master/detail budget relationships between hierarchy levels. Summary templates are defined so that accounts in your lower level detail budgets roll up into the same summary accounts as the detail accounts in your controlling master budget. A common misconception is that the detail budgets somehow roll up to the master budget by definition, this is not true. You must actually budget to a detail account in the master budget; this then serves as the controlling amount for the detail budgets. Master/Detail budgets are used in the budgeting process to control Authority and identify budgets that exceed control limits. They are not intended for reporting purposes.


26. I was able to post a budget journal to a closed period, why?

A budget journal can be posted to any period that is in an open budget year for that budget. This is regardless of the status of that period (closed, opened, or future enterable).


27. Why don't my budget amounts appear on my FSG?

To include budgets (encumbrances or currencies) in a FSG report, your report definition must specify a row set of column set that has control values specified in the Balance Control options. In the report definition itself, you associate budget names with the control values that are assigned to the row or column set.


28. What are different period types? 

You use accounting period types to define your accounting calendar. Different Accounting Periods are-

·                     General Ledger Periods (attached to Set of Books),

·                     Purchasing Periods (Operating Unit Specific),

·                     Cost Periods (Inventory Organization Specific),

·                     AP Periods, and

·                     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.

29. What types of invoices are there in AP and AR?

8 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

30. 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.

31. 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

32. 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.

33. What are the setup steps for AP, AR, and GL?

For GL:
1. Define Chart of Accounts
2. Define Calendar
3. Define Currency
4. Create Set of Books

For AP:
1. Define Suppliers (Creditors)
2. Invoice
3. Look up codes
4. Selection of Set of Books
5. Payment Terms
6. Financial & Payable Options
7. Define Banks

For AR:
1. Flexifield
2. System Options
3. Payment Terms
4. Open period
5. Auto Accounting
6. Transaction Type

7. Transaction Source

34. 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.

35. 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.

36. 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

37. 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.

38. 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.

39. 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

40. 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

1. Journal Wizard

2. Budget Wizard

3. Report Wizard.

4. Account Hierarchy Editor.

5. Analysis Wizard.

6. 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).

41. 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

42. What is planning budget?

The plan for the future expenses is planning budget. It is a paper work. There is no funds requirement. It does not require journals. There are no restrictions for estimating of funds. It is a budget through which you cannot exercise budgetary control. But u can compare your actual with budgets through inquiry window.

43. What is Consolidation in GL?

It Consolidates the Subsidiaries & Parent financial information. At a point of time we can check the Performance of the Companies overall Performance. When we have multiple setup and combine primary and secondary books getting the financial reports is called consolidation We will use consolidation reports at the time of period end closing Consolidation is the Process of combining the Financial results of different companies typically combining subsidiary accounting information into a parent company.The main purpose of consolidation is for reporting purpose. Consolidation is the period-end process of combing the financials of separate subsidiary with the pay rent company to from single ,combine statement of final result consolidation is one of the reporting tool.consolidation may map the subsidiary set of books to parent set of books, even if the set of books values are different using segment rule,accounting rule It is the process of combining the financial results of multiple companies into one financial statement the company may have different sobs in different countries,so we will collect all the financialtransactions(sob) in to one set of book ,that is parent sob then the company easely findout all the finacial year endingresullts in their functional curency,that purpose multiple companies are using consolidation I think consolidation can be done with two ways that is FSG, GCSÂ for FSG it can be done when both parent SOB and Subsidary SOB have Currency, Calender, COA, same then we go for FSG.In Global consolidation System currency, coa, calender are different in parent sob and subsidary sob we have to go for GCS.I am Saikrishna actaully I am pursuing my oracle financials in hyd i just completed one of my module GL institute.

44. How to import data to General Ledger by Feeder System?There are three ways:

1- You can upload Journal Entries using ADI (Application Desktop Integrator) functionality. ADI is used to interface spreadsheet uploads with Oracle applications data. 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).

2- Using Journal Import, we can bring the data from the feeder system; to import the Transactions from External Feeder Systems following are the steps-
1. Populate the data from External system to GL_Interface table (GL_INTERFACE table acts like a bridge between the external system and the Oracle General Ledger Base tables where journals are stored). 2. Run the Journal Import process to import the date to base tables (Errors in Journal Import are listed in Execution Report)

3. From any sub module run individual module transfer to GL program Ex: Payables transfer to General Ledger

45. After creating Journal Source how do we approve to the specific Set of Books?

To approve journals from specific source, while creating the source 'Require Journal Approval' check box should be enabled. To approve all the journals that come from different sources In the Set Of Books window under 'Journaling' tab 'journal approval' should be enabled.

46. While creating combination of accounts what is the use of PRESERVED check box?

If we check preserve for a account code combination then even if you disable this account segment value, the inherited (parent. child) segment values will not be disabled. If it is unchecked all the related segment values will be disabled. Preserved check box will help you to retain the original character of the General Ledger code combination, even after u change the nature of the segments during maintenance of the GLCC.

47. What is the MD form 50?

MD50 is a Functional design document, designed by the functional consultant. After interacting with the client, functional consultant will prepare this document. In this we will compare the present business process and client requirement. It is mainly used for Application Extensions and Interface functional design.

48. What are the journal entries in Procure to Pay Cycle?

When we receive the material after approve of purchase order
1. When the Material Received at the Gate-

Receiving Accrual A/C -- Dr
Material AP Accrual A/C -- Cr

2. When the Material delivered to The Inv Org Material

A/c Dr Purchase Price Variance A/c Dr Receiving A/c Cr

3. When the Invoice Is enterd into the Payable with Matching Of PO Material

Ap Accrual A/c Dr Invoice Price Variance A/c Dr AP Liability A/c Cr

1. Material Receipt Receiving Accural Dr AP Accural Cr

2. On completion on inspection and accepting of goods Inventory Dr Receiving Accural Cr The Above given 2 entries are in PO module

3. On entering Invoice in AP AP Accural Dr Accounts Payable Cr

4. On Making payment Accounts Payable Dr Cash/Bank Cr 1. On Entry of PO ________ No accounting impact

2. On Materil Receipt Receiving Accural Dr AP Accural Cr

3. On Completion of Inspection and goods accepted Inventory Dr Receiving Accural Cr The Above mentioned entries in PO Module

4. On entering invoice in AP AP Accural Dr Accounts Payable Cr

5. On Payment Accounts Payable Dr' Cash/Bank Cr 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 Dr To AP Liability A/cWhen Payment is madeAP Liability A/c Dr To Cash Clearing A/c