R12 Oracle General Ledger Process

.      Open the First Ever Period

Navigation: Setup > Open / Close

The Period Name which is attached with the Ledger will be defaulted

Open the Period

Ø  Never Opened       - No Actions

Ø  Future                                - Enter and Save Journal

Ø  Open                                 - Posting is possible only in OPEN Status

Ø  Closed                               - No Journals –Only Reporting (Re-Open)

Ø  Permanently Closed – Only Reporting

Ø   

2.      Enter / Import the Journals (Journal > Enter > New Journal)

2.1   Import Journal – A Journal is Imported from Sub Ledgers or Legacy system

2.2   Enter Journals – Enter a Manual Journals. If any business transaction not processed in other sub ledgers can be entered as a Manual Journals.  Ex., Tax Adjustments, Provision Entry, Adjustment Entries…..

2.3   Enter, Save and Post a Journals

2.4   Journal Header Level Info – Name of the Journals, Period Name (Open or Future Period), Date of Journal, Journal Category (Purpose of the Journal), Currency will be defaulting from Ledger (Change of Currency is considered as Foreign currency journal)

2.5  Journal Line Level Info – Select the Debit Account, Select the Credit Account and Enter the Amount corresponding to Debit and Credit. Ensure both Debit and Credit Amount are Equal. Single Journal can have Multiple Debit and Credit Lines, Enter the Line Level Description

2.6  Journal Source – By Default Manual while entering the Journal otherwise the corresponding Module Name will be displayed.

2.7  Post a Journal – Click on the Post Button

2.8  Change Period – After Save to change the Period, select Change Period Button (Before Posting)

2.9  Change Currency – After Save to Change the Currency, select change Currency (Before Posting)

2.10           T- Account – To View the Journal in the T Format (Traditional Format)

2.11          Post Button – Select to Post a Journal

2.12          Journal Status – Unposted, Selected for Posting, Posted, Error Number and Error Description

2.13          Inquiry Journal – Journal > Enter (Select the Available Filtering Criteria) and Select Find and Click Review Journals

2.14          Posted Journals – All the Fields are Non Updatable

2.15          Unposted Journals – Can be Deleted

Suspense Journals

1.      Unbalanced Journals – If suspense Account is provided while creating the Ledger, system will default the suspense account for the unbalanced Amount

Reversal Journals

1.      Posted Journals can’t be modified or updated

2.      If there is a rectification required like Wrong Account Code, Wrong Amount, Wrong Period we can Reverse a Posted Journal

3.      If any adjustments journals is passed which is supposed to be reversed in the Next Period, we can use the Reversal Concepts

4.      Query the Posted Journals – Select the Reversal Button

5.      Reversal Method – Switch Dr / Cr

6.      Reversal Period – Same or Future Period

7.      System creates a Reversal Journal – Reverses will be prefixed with the Actual Journal Name, by Default this Journal status in Unposted

8.      The Original Journal status will be as Reversed. Again you can’t reverse the same Original Journals

9.      Posted the system generated Journal

10.  The system generated Journals can be reversed if required

Journal Setups

1.      Source – Setup > Journal > Source

1.1              Name of the source

1.2              Import Journal References – Line select the Account code and Click Drill Down Button to view the transactions of those Lines

1.3              Required Journal Approval – Before Posting if any approval needs from Managers

1.4              Freeze Journals – Non Updatable even Un posted Journals

2.      Category – Purpose of the Journals (Setup > Journal > Category)

Name and Description, while entering Journals select the One which you defined.

Journal Batches  - Enter a Journals in Batch (Journal > Enter > New Batch)

Posting Methods

1.      Single Journal Posting – Journal Screen

2.      Multiple Journal Posting – Enter > Post (Select the Period, system displays all the Unposted Journals, select the required Journals and Click Post)

3.      Auto Posting – Automatic Posting Program

Setup > Journal > Auto Post

3.1              Name, Ledger Name, Source ALL, Category ALL, Select the Period Name

3.2              Submit Button – System submit a Concurrent Program and Post all the existing Journals whichever is Unposted

3.3              Schedule – Periodically or Weekly, Daily…

4.      Batch Posting – All the Journals in the same batch can be posted, Post Button in Journal Batch Screen

5.      Final Post – From the Transaction Screen from other Sub Ledgers

Reversal Methods

1.      Single Journal Reversal – Journal Screen

2.      Auto Reversal – Define the Auto Reversal for a Journal Category

2.1              Setup a Journal Category

2.2              Setup the Reversal Criteria for the Journal Category

2.3              Reversal Period Next Period / Same Period

2.4              Enable Auto Reversal and Auto Post Reversal

2.5              Select this Reversal Criteria Set Name in the Ledgers

3.      Update the Profile - GL: Launch AutoReverse After Open Period- YES

Recurring Journals

1.      Journal Copy – Auto Copy (R12)

1.1              Query the Existing Journal

1.2              Select Auto copy Batch Button

1.3              Provide a New Name for the Journal

1.4              Select the Journal Required Period

1.5              A concurrent program will be generate a Journal with a Source Name as Auto Copy (This Journal is a Unposted Journal)

2.      Standard Recurring Journals – Same Account and Same Amount (Rent Account)

2.1              Define Standard Recurring Journal Template

2.2              Generate the Journal for the required Period

2.3              Query and Post the Journals

3.      Skeleton Recurring Journals – Same Account and Variance Amount

(Telephone Bill)

3.1              Define Skeleton Recurring Journal Template

3.2              Generate the Journal for the required Period

3.3              Query the Journal and Enter the Amount before Posting

4.      Formula Recurring Journals – Same Account and Amount is based on some Formula)

(Interest / Sales Commission)

4.1              Define Formula Recurring Journal Template

4.2              Generate the Journal for the required Period

4.3              Query and Post the Journals

Auto Allocation

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1.      Submit or Schedule the Recurring Journals and Mass Allocation Program together in a single concurrent program

2.      Step Down Approach – Run One by One in a sequential Order

3.      Parallel Approach – No conflicts between each programs, any programs runs in any sequences

4.      GL Auto Allocation: Continue to Next Step if No Journal Created

5.      GL: Auto Allocation Rollback Allowed

Journal Approvals

1.      Enable Journal Approval at Ledger Level

2.      Enable Journal Approval at Source Level

3.      Enter the Limits and the Approval Person Details

4.      Update the Profile – Journal Approved Methods

5.      Update the Profile – Allow Prepare Approval