Features of Oracle General Ledger

This article will explore the overview of Oracle General Ledger system, general ledger functionalities and general ledger features. How Oracle GL integrates to other modules.

Overview of Oracle General Ledger Module 

The General Ledger (GL) module is the heart of the accounting system.   Detailed to summary level activity of accounts and sub-accounts are maintained here.  The ledger provides access to data through a tool called Financial Statement Generator (FSG). 

Oracle’s General Ledger allows you to:

• Maintain separate company’s financial information regardless of currency or chart of accounts

• Administer security rules to allow only those authorized to retrieve needed accounting information

• Produce consolidated financial reporting

• Separate cost allocations to many different ledger accounts using a single formula

• Use multiple currency rates for different ‘companies’ within the organization

• Consolidate different sets of books into a single ‘Parent’ set of books

Summary Accounts

• Reference summary accounts when allocating funds

• Organize detail accounting information into optimum number of accounts

• Are updated by any transaction to the detail account

Multi-Company Accounting

• Maintain multiple companies with like or different accounting methods

• Auto balance inter-company transactions

• Allows multiple sets of books using different calendars and currencies

• Add additional companies at any time without difficult restructuring

Set of Books consolidation

• Create a single parent set of books

• Define rules to link subsidiary accounts to the parent set of books

• Consolidate balances or individual journal entries

• Combine budget balances between sets or within a set of books

Financial Statement Generator

• Secured reporting environment controlled by business functional people

• Flexible method to cover the broadest accounting methods

• Reports on account balances by period and not individual journal entries