1.What is MRC?
Multiple reporting currencies are a set of unique feature which permits an organization to report in multiple functional currency.
2.What are the Responsibility setups?
Data group, Menu group, Request group
3.How to prepare FSG?
Row set, Column set
4.What is a Roll up Group?
It is to identify a group of parent values for reporting or other application Purposes. It is used to create summary accounts for reporting purposes.
5.What is Translation?
Translation is the process which picks up the foreign currency balances and converts them into functional currency balances (for a particular period,SOB,etc). So basically the translation process will generate additional records in the gl_balances table. It only operates at the balances level and not on the transactions/journals level. It picks up the periods rate defined for that period.(not the daily rates).
6.What is Revaluation?
Revaluation is a process which is typically run periodically to account for the loss/gain in the foreign currency. As an ex, if there is a transaction is foreign currency and it could have gained some value due to the economic differences. So revaluation process will take notice of this and create the new journals which account for the net loss/gain. So these journals will have to post again. Revaluation process will not update the gl_balances.
7.What is Cumulative translation Adjustment Account?
It is to account the net difference needed to balance the translated COA while doing the translation.
8.What is Recurring journal? Types of Recurring journal?
A recurring journal is a journal entry that should be entered and posted periodically. Each time the journal should have the same accounts but the amounts could be different. To create a recurring journal, you define a recurring journal template that you use to generate almost automatically the journals periodically. Recurring Journal templates can include fixed amounts or formulas to find amounts based on balances of pre-determined accounts.
9.What is the difference in structure between R12 and 11i?
3C in 11i whereas 4C in R12,SLA,MOAC
10.On what basis we create operating units?
Ledger and legal entity
11.What is org_id and organisation_id?
Org_Id means OU Id and organisation_Id means Inventory Org ID
12.What is BR 100 and which stage we are preparing?
Its a document for all set up .Before User Manual it has to sign off.
13.What is Flexfield?
A flexfield is a field made up of sub fields or segments.
14. What is KFF (Key Flexfield)?
It builds unique entity identifiers (Data stored in the SEGMENT fields.).Its mandatory flexfield for arranging code of combination which consists of 38 flexfield.GL-3,AP-3,FA-3,AR-6,HR-7
15.What is Key flexfield name in GL?
Accounting Key Flexfield
16.What is DFF (Descriptive Flexfield)?
To store the additional information (Data stored in ATTRIBUTES fields)
17.How to create DFF?
Go to GL=>Setup=>Financial=>Flexfield=>Descriptive=>Segment then DFF query as based on application and title.
Ex: Journal entry screen we need to customize some additional info
Select title as "Enter Journals: Journals" and click on segment and create for necessary value set and provide the value details in GL=>Setup=>Financial=>Flexfield=>Descriptive=>Value
18.Why Allow Dynamic Inserts?
Allow dynamic option is to create new code combination and also modify the code combination can be done otherwise not possible.
19.Use of Cross Validate Segments?
controls the combinations of values you can create when you enter values for key flexfields
20.What is segment? How many no. of segments in Accounting Flexfield?
A segment is a single sub field within a flexfield.A segment is represented in database as a single table column. Maximum 30 segment,14 Attribute in DFF
21.How many flexfield structures can you create for GL?
In Oracle GL,We can create N no. Of flexfield structures.
22.What is value set?
It is a set of values
23.Why do we need value sets?
You do not always want a user to enter junk free text into all the fields. Hence, Oracle Apps uses value set to validate that correct data is being entered in the fields in screen.
Is value set attached to all the fields that require validations?
24.Where lies the usage of value sets?
Value sets are attached to segments in Flexfields. You can argue that value sets are also attached to parameters of concurrent program(but in reality oracle treats parameters as Descriptive Flexfields)
25.How many Different Security Type in value set?
26.What are the field in Creation of Valueset?
Name,Security type,maximum no,indepedent,list of values,Upper case,Char
27.What are the format types and validation types available in value set?
Format type:-Character,Date ,Date time,Standard date,standard datetime,Time
Validation Type:-Dependent,Indepedent,None,Pair,Special,table,Translatable indepedent,Translatable dependent
28.What is Flexfield qualifiers?
A flexfield qualifier identifies a particular segment of a key flexfield.
29.Types and Purpose of Flexfield Qualifier?
Balancing segment,Natural Account,Cost centre,management,Secondary tracking,Intercompany
30.What is the use of Management Flexfield Qualifier?
This would qualify a segment to be the management segment if that segment has management responsibility and you can facilitate setting of Read, Write access permissions while defining Data access set in GL.
31.What is the use of Secondary Tracking Flexfield Qualifier?
This attribute is used to identify the secondary tracking segment to process income statement closing, translation and revaluation.
32.What is Segment qualifiers?
A segment qualifier identifies a particular type of value in a single segment of a key flexfield
33.What are types of Segment Qualifier?
For Company and cost center:-Allow posting ,Allow budgeting
For Natural Account:-Allow posting ,Allow budgeting,Account Type,Third party Control Account,Reconcile
34.What are types of Account types in Natural Account Segment Qualifier?
35.How do you define parent Child relationship for segment values?
In segment value enable the parent value,define the child range and enter the low high ranges of child value.
36.What is Security Rule?
It restricts the access of different segment values for different responsibilities.
37.What is CVR(Cross validation rule)?
CVR restricts particular code of combination at COA level.
38.What are the period types?What are the period types provided in GL?
A Unit of time ,such as one week ,two weeks or a month on which your accounting calender is based.Types:-Month,Year,Quarter,Half Yr,Half month,Week
39.What are period status in GL?
Never Opened,Open,Closed,Permanently closed,future
40.What is an Accounting calender?
It is to specify the no. Of periods in the year for the purpose of transaction and maintaining accounting data.
41.How to Creating Calender?
Name,Prefix month,type,year,Num,from,To,If adjustment then click on Adjusting
42.What is transaction calender?
This calender determines which days in aweek are business days and specifies other non business days such as holidays.Use:-It must be assigned for set of books for which average balanceing is enable to control transaction posting.
43.What is monetary currency?
It is currency which has a monetary value.
44.What is conversion type?
A process that converts foreign currency transaction in to functional currency.I.e.Corporate,reporting,spot,user
45.What is journal Source?
It is an indicator by which GL identifies and Differntiates the origin of journal entries which is mandatory to create a new journal.
46.What is journal Category?
Journal category specify what kind of transaction the Journal entry represents.It determines the nature of journal entry Like purchase,payable,receivable etc which is mandatory to create a journal.
47.How to create New Journal Categories?
48.How to setup Journal Approval?
In ledger tick on enable journal approval,then source enable journal approval
49.How we can post subledger entries to GL without any concurrent. ?
Go to ledger -subledger application then assign post in GL as yes for module wise.
50.How to Post all Journals in single stroke?
Run Program - Automatic Posting,Else go to setup-journal-Autopost
51.What is Ledger Sets?
Ledgers sets allow you to group multiple ledgers together to achieve processing efficiencies. For example, you can open or close periods for multiple ledgers simultaneously, translation/Revaluation balances for all ledgers in a ledger set, run recurring journals that update balances for multiple ledgers, or run consolidated financial reportsand FSG report that summarize balances across multiple ledgers in a ledger set.All ledgers in a ledger set must share the same chart of accounts and accounting calendar/period type combination.
52.What is Data Access Sets?
Data Access Sets enable you to specify read only or read and write access for a legal entity, ledger, Balancing Segment Value or Management segment Value.
53.How to define Document Sequence for Journals?
Sys admin,Application create and assign as aumatic and manual
54.How to find Journals Entered today?
Journal find screen,click more,dates created from ,to
55.Reverse a Journal - Options available?
Yes,At journal screen ,reverse tab else setup-journal-Auto reverse
56.Can I correct sub ledger entries from GL?
Yes,at journal import ,correct option
57.Can I delete sub ledger entries?
Run request Program - Delete Journal Import Data,parameter Source,request ID,Ledger
58.3 Key reports in GL?
Trial balance,Account Analysis report(180),FSG reports,
59.5 Tables relating to GL?
60.What is mass allocation?
A single journal entry formula that allocates revenues and expenses across a group of cost centers ,departments,divisions etc.
Steps:-1.Create value set for parent and child ,2.New journal STAT Category,3.Allocation,4.Generation,5.Submission
61.How many Account type?
62.What is security rule and Cross validation rule?
We are restrcting the code combination at responsibility level for security rule and COA level for Cross validation rule.
63.What is drilldown in GL?
We can see the orginal entry through this option at gl
64.What is COA?
Chart of Account (COA) is one of the building blocks of Ledger. It is an important as well as a mandatory step to setup a ledger. It is important because the structure of COA determines the level or depth of financial reporting.The Accoutning Structure your organisation uses to record transaction and maintain account balances.
65.What are the pre requisite of COA?
Segment,Value set,Flexfield qualifier,Values,Segment Qualifier
66.How we will arrive Business structure and operating structure?
Through segment created in COA.
67.What is Retain earning account?
It will carry forward the last year balance to the current year.
68.What are the accounts mandatory to define in set of books?
Retain Earning Account,Suspense Account,Rounding off difference account,Reserve for encumberance
69.What is Suspense Account?
It is a balancing account which is used to post out of balance Journal entries, GL automatically posts journal difference against summary accounts. A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded.
When the proper account is determined, the amount will be moved from the suspense account to the proper account.
70.What is Encumbrance Account?Types?
With General Ledger you can record pre-expenditures commonly known as encumbrances. The primary purpose of tracking encumbrances is to avoid overspending a budget. Encumbrances can also be used to predict cash outflow and as a general planning tool.
71.Can Contra entry passed for suspense and encumbrance journal entry?
72.How can we create encumbrance?
We can create either Automatic or manual.
73.What is Budget?Types of Budget?
It is used to have control over the amount spent against budget.
Types:-1. Account Wise 2.Journal entry source and category
74.What is SLA and how it function?
75.What are the pre requisite required for SLA?
1.At ledger update subledger accounting in default 2.Accounting methods builder-Event type .Event Class Mapping Sets ,Account Derivation Rules,Journal Line Definition,Application Accounting Definition,Subledger Accounting Methods,Assign the custom SAM to Primary Ledger Accounting Setup,Create an invoice for supplier type ‘Contractor’ and create accounting
76.In the case of modification of entry,What account taking from payble to GL?
Modified Entry from SLA
77.SLA entry Whether its modifiable?
Yes if its in draft mode .
If drill down what account entry will be seen whether its modified entry or original entry
78.made at SLA?
79.What is the pre requisite for a journal?
80.What are different types of journal?
Reverse journal,Tax journal,Suspense journal,Statistical journal,Recurring Journal,Foreign currency journal
81.What is journal import?
A general ledger program that creates journal entries from transaction data stored in the GL_INTERFACE table.
82.How to Validate a Journal import?How to track errors during import journal?
Validation can do through 1.Batch level Validation,2.Journal level validation,3.Journal entry line level validation,4.Account validation,5.Effective date validation,6.DFF validation
Errors we can track through Batches,Accounts,reference,Journal lines,DFF
83.Name few GL interface tables?