Accounting Equation in pictorial format

General Ledger FAQ

1. What responsibility should I use when doing the set up for General Ledger? Use a seeded responsibility like 'Oracle General Ledger Super User'. You may also need to use the System Administrator responsibility. 2. What are the pre-requisites required to define a new calendar? According to your business needs you need to decide the calendar type required i.e. monthly, weekly or biweekly, the number of periods, adjusting periods and the maximum number of periods within a fiscal year. 3. What are the pre-requisites required to define a new Ledger? Define a Calendar, Chart of Accounts and enable the functional Currency and convention of subledger accounting method. 4. Why must I check the calendar definition before assigning to a Ledger? The calendar definition cannot be changed once it is assigned to a set of books so it is very important to check that the calendar definition is suitable to the specific business needs, has been d

Difference Between MTS, ATO, MTO ,PTO ,CTO and ETO.

Make-to-stock (MTS) In MTS environments, products are created before receipt of a customer order. Customer orders are then filled from existing stock, and then those stocks are replenished through production orders. MTS environments have the advantage of decoupling manufacturing processes from customer orders. Theoretically, this enables customer orders to be filled immediately from readily available stock. It also allows the manufacturer to organize production in ways that minimize costly changeovers and other disruptions. However, there are risks associated with placing finished goods into inventory without having a firm customer order or an established need. These risks tend to limit MTS environments to simple, low-variety, or commodity products whose demand can be forecasted readily. Assemble-to-order (ATO) In ATO environments, products are assembled from components after the receipt of a customer order. The key components in the assembly or finishing process are pla

Accounting entries in Oracle Purchasing and Payables

This document gives in detail different accounts used and the accounting impact of various transactions that take place in Oracle Purchasing and Oracle Payables. Both Standard costing and Average costing methods are considered. The accounts are Oracle Applications specific and might differ from the conventional accounting names. Examples are given wherever required for better understanding of the concept. The sources of these accounts are given. PURCHASING: Receiving – For Accrual Process for perpetual Accruals Receipts for inventory purchases are always accrued upon receipt. And also use perpetual accruals for expense purchases you want to record uninvoiced purchase liabilities immediately upon the receipt of the expense goods. Receiving Account (Receiving Account) To record the current balance of the material in receiving and inspection. Where to define in Apps: Define Organization Define Receiving Options

Oracle EBS Learnings

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