Oracle Payables R12 - Setup and Use AP/AR Netting Feature

Oracle Payables R12 - Setup and Use AP/AR Netting Feature

Features of Oracle General Ledger

Following are the features of Oracle General ledger.

§  Enable Average Balance Processing for Specified Sets of Books

If you want to use average balance processing in General Ledger, you must enable the functionality for a specific set of books. With this feature, you can enable average balance processing only for those sets of books that require it. This ensures that you incur no additional overhead unless you need average balance processing

§  Capture Average Balances

General Ledger calculates and stores the necessary aggregate balance information needed to compute average balance amounts as of any day in the year.

§  Effective-Date Transaction Processing

A transaction's effective date determines which end-of-day and aggregate balances are updated by General Ledger. These balances, in turn, determine the calculated values of your average balances.

§  Transaction Calendar Control

Certain organizations that need average balance processing, such as financial institutions, are required to post transactions only on business days. Posting on weekends or holidays is not allowed, although some organizations do post period-end accruals on non-business days.

§  Control Transaction Balancing by Effective Date

Normally, General Ledger requires that total transactions balance for an entire period. When average balance processing is enabled, the system checks total transactions for each effective date to ensure that debits and credits balance. When they do not, General Ledger rejects the transactions, or, if you have enabled suspense posting, the system creates a balancing entry to the suspense account

§  Allowing Back-Value Transactions

You can post transactions with effective dates prior to the current date. When you do so, the effect on average balances is determined by the effective date, rather than the system or current accounting date. General Ledger adjusts the ending and aggregate balances of the affected accounts as of the effective date and all subsequent dates.

§  Maintain Averages for Summary Accounts

If you use summary accounts, and choose to enable average balance processing, General Ledger will maintain average, as well as standard, balances for your summary accounts. General Ledger automatically updates your summary average balances, as well as the standard average balances. You can use summary average balances in allocations and financial reports.

§  On-line Inquiry

You can use the Average Balance Inquiry form to review on-line information about the average or end-of-day balance of any balance sheet account. You can view summary or detail balances, as well as drill down from your summary balances to see the detail. Also, you can customize your view of the average and end-of-day balances to show only the information you want, in the order you want it.

§  Standard Reports

General Ledger provides two standard average balance reports:

• Average Balance Trial Balance--displays standard and average balances for selected accounts, as well as period, quarter, and year average-to-date balances, for any as-of date you specify.

• Average Balance Audit Report--displays the detail activity used to create aggregate balances and related average balances maintained by General Ledge

§  Custom Average Balance Reports(FSG)

With General Ledger's Financial Statement Generator, you can design custom reports that use average balances. You can even create reports which include average and standard balances.

§  Allocations and Recurring Journal Formulas

With average balance processing enabled, you can use average balances as input to any formulas you use to create MassAllocations, MassBudgets, and recurring journals. You can use any of the three average balance types (Period, Quarter, or Year Average-to-date), as well as end-of-day balances.

§  Multi-Currency Accounting

General Ledger fully supports using average balances for foreign currency conversion, revaluation, and translation. General Ledger maintains average and end-of-day balances for all of your transaction currencies, as well as your functional currency

§  Consolidation

General Ledger fully supports using average balances for consolidations, including both the transactions consolidation method and the balances consolidation method. You can consolidate average balances from different sets of books, using different currencies, calendars, and charts of accounts.

Enterprise resource planning (ERP), Oracle

• Oracle E-business Suite 
• Oracle Financial 
• Oracle Supplychain (SCM)

Enterprise Resource Planning (ERP)

An Enterprise Resource Planning (ERP) system is an integrated computer-based application used to manage internal and external resources, including tangible assets, financial resources, materials, and human resources. Its purpose is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders. Built on a centralized database and normally utilizing a common computing platform, ERP systems consolidate all business operations into a uniform and enterprise-wide system environment.

Main Features of our ERP include:

• Financials
• Supply chain management (SCM)  
• Manufacturing
• Warehouse Management 
• Distribution
• Customer Relationship Management (CRM)
• Decision Support

Oracle Financials:

Oracle Financials products provide organizations with solutions to a wide range of long- and short-term accounting system issues. Regardless of the size of the business, Oracle Financials can meet accounting management demands with:

Oracle Assets:

Ensures that an organization's property and equipment investment is accurate and that the correct asset tax accounting strategies are chosen.

Oracle General Ledger:

Offers a complete solution to journal entry, budgeting, allocations, consolidation, and financial reporting needs.

Oracle Payables:

 Lets an organization process more invoices with fewer staff members and tighter controls. Helps save money through maximum discounts, bank float, and prevention of duplicate payments.

Oracle Cash Management:

Lets you perform bank reconciliation and cash forecasting.

Oracle Receivables:

 Improves cash flow by letting an organization process more payments faster, without off-line research. Helps correctly account for cash, reduce outstanding receivables, and improve collection effectiveness.

Oracle Supply Chain Management (SCM):

Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. Supply chain management involves coordinating and integrating these flows both within and among companies. It is said that the ultimate goal of any effective supply chain management system is to reduce inventory (with the assumption that products are available when needed).

 

Oracle Inventory:

Helps an organization make better inventory decisions by minimizing stock and maximizing cash flow.

Oracle Order Management:

Provides organizations with a sophisticated order entry system for managing customer commitments.

Oracle Purchasing:

 Improves buying power, helps negotiate bigger discounts, eliminates paper flow, increases financial controls, and increases productivity.

Oracle Sourcing:

 Online negotiation with suppliers and online interaction with supplier tracking receipt

____________________

Chart of Account (COA)

A chart of accounts (COA) is a created list of the accounts used by a business entity to define each class of items for which money or the equivalent is spent or received. It is used to organize the finances of the entity and to segregate expenditures, revenue, assets and liabilities in order to give interested parties a better understanding of the financial health of the entity

Chart of Account Components:

1) Assets
2) Liabilities
3) Owners' Equity
4) Revenues
5) Expenses

The structure of the chart of accounts is important because it helps organize the accounts and identify their location...

The structure of the chart of accounts is important because it helps organize the accounts and identify their location...

Asset Accounts:

Cash, Bank Accounts, Accounts Receivable (Debtors), Prepaid Expenses, Inventory (Stock on Hand), Land, Buildings, Vehicles & Equipment, Investments & Stocks, Accumulated Depreciation and Other Assets

Liability Accounts:

Accounts Payable (Creditors), Credit Cards, Tax Payable, Employment Expenses Payable, Bank Loans,

Stockholders' Equity Accounts:

Common Stock (Share Capital), Retained Earnings (Revenue Reserves), Drawings

Revenue Accounts:

Sales Revenue, Sales Returns & Allowances, Sales Discounts, Interest Income,

Expense Accounts:

Advertising Expense, Bank Fees, Client Expense, Depreciation Expense, Payroll Expense, Payroll Tax Expense, Rent Expense, Income Tax Expense, Office Expense, Utilities Expense

Rules for Debit (DR) and Credit (CR):

Oracle Fixed Asset (FA)

Oracle Fixed Assets (FA) module is one of the Oracle Financials modules and is very flexible package for managing all the fixed asset management for any organization.
Oracle Assets can help enterprises lower administrative costs by streamlining data management.

Transactional Flow from AP > FA>GL

Modules Activities:

Additions:

Depreciation:

Retirement:

Prepaid Services:

Tax Book Maintenance:

Capitalized Leases vs. Operating Leases:

Period-End Process:

For more information please visit http://www.oracle.com/

How to create Employee in Oracle HRMS

Oracle E-Business Suite  >Oracle HRMS

How to create Employee in Oracle HRMS

In this article I will explain how to create employee in Oracle applications (HRMS)

Navigation: HRMS>People>Enter and Maintain

Click on New 

 Click on New to enter the employee.

Select Title

Enter First name

Enter Family name

Enter Birth Date

Select Marital Status

Then click on "Addition information" Tab

 Select Action
Select Person Type for Action
Select Religion
Education and other information

Select Nationality
Click on Assignment

Select Organization
Select Job 
Select Grade
Select Location
Select Position
Select Status

then Click on Supervisor  

Select Name of Supervisor
Select Worker Number 
Select Assignment number 

Then Click on Entries to enter elements

Select the Payroll elements. (Optional for payroll only)

For more details please visit http://www.oracle.com/
                                                 http://docs.oracle.com/

Oracle Release 12.1 Documentation Library

Oracle Library 

Below is the Oracle Library Link for Oracle R.12, You can get all the documentation that is required. 

http://docs.oracle.com/cd/B53825_08/current/html/docset.html

http://docs.oracle.com/cd/B53825_08/current/html/docset.html

For more details please visit http://www.oracle.com/
                                                 http://docs.oracle.com/

How to Create Menu in Oracle Apps

Oracle E-Business Suite  > Sysadmin

How to Create Menu in Oracle Apps

In this article I will explain how to create menu in Oracle Applications. Menu is attached with the responsibility to access the certain functions and sub functions.

the process of creating function and sub-function is same.

Navigation: Sysadmin > Application > Menu

You can also create menu by using Shift + F5 Functionality that is explained in Creating responsibility article.

Query any existing menu 

Click on new to create new menu.

Enter the menu Code in "Menu" Field

Then Enter User Menu Name as this name will show in the LOV for attaching menu to a responsibility.

Select Menu Type

Enter Description.

Enter the Prompt it will show in the responsibility.

Select Sub Menu 

Select Functions that is required.

Enter the description

Press Save button to save the work.

Copy the menu name

Attach the Menu with responsibility.

How to Create Responsibility in Oracle Apps

Oracle E-Business Suite  >Oracle Sysadmin

How to Create Responsibility in Oracle Apps

In this Article I will explain how to create new responsibility in Oracle Apps through system administrator (Sys admin).

For creating new responsibility we will copy the responsibility content from the responsibility that already create. For Example you want to create purchasing responsibility you can create it from " Purchasing , Vision Operations (USA)" or any purchasing responsibility.

I will explain very easy steps in which you can create new responsibility by using (Shfit + F5) key Combination.

Navigation:Sysadmin > Security > Responsibility > Define

Click on responsibility button to open the window.

First Navigate the responsibility from you want to copy and create you own responsibility.

Click on Torch to find the existing responsibility.

Select the existing responsibility.

Press Ok

Press New button to create the new responsibility.

The Blank Screen will appear where you need to enter all the information to create your responsibility like Name, application, responsibility key etc.

Enter the name of Responsibility Like " Apps Purchasing super User"

Then Press Tab

Then Press (Shift + F5) , Application name will automatically selected.

Then Press Tab.

Then Press (Shift + F5) , Responsibility Key will automatically selected. You just need to add anything to change the name of key as this is unique key so Just put (_1) at the end of existing key.

Then Press Tab.

Then Press (Shift + F5) 

Repeat this untill all the required fields are created. You need to Select  Data Group , Request Group and Menue.

Note: You can use your own Menu with the responsibility , next post  I will explain how to create menu.

For more details please visit http://www.oracle.com/

                                                 http://docs.oracle.com/

Setting Up Profile Option in Oracle Apps

Oracle E-Business Suite  >Oracle Sysadmin

How to Set Systems Profile Options in Oracle Apps

In this article I will explain how to set profile options (System Profile options) for any responsibility or user or on any level.

Navigation:Sysadmin >Profile > System

How to Set Profile Option in Oracle Apps

Click on System to open the window

How to Set Profile Option in Oracle Apps

You can set the profile options on different level as per your requirement.

Select the level or levels for which you want to set the profile option. The levels available are as follows:

Select the Responsibility to setup profile options

Then select the Profile option from the list of value. Mostly for module configurations following profile options are used.

• HR:Business Group
• GL Ledger
• MO: Operating Unit
• MO: Default Operating Unit
• HR: Security Profile
• MO: Security Profile

Select the Business Group for profile HR: Business Group Value

Select the profile value at Site level or responsibility level.

Site Level : Across instance

Responsibility Level : Only for selected responsibility.

Press Save Button to save the work.

For more details please visit http://www.oracle.com/

                                                 http://docs.oracle.com/