General Ledger FAQ

What is Journal Import?

A) Journal import is an interface used to bring journal entries from legacy systems and other modules into the General Ledger.(Specifically Journal Import gets entries from legacy data into the GL base tables.

The tables populated during journal Import are

GL_JE_BATCHES,

GL_JE_HEADERS,

GL_JE_LINES,

GL_IMPORT_REFERENCES

What is the use of GL_Interface?

A) Gl_Interface is the primary interface table of General ledger. It acts as an interface between data originating from other modules such as AP,AR, Legacy data and the Gl Base tables.

What is Actual Flag?

A) Actual flag represents the Journal type.

A-Actual

B-Budget

E- Encumbrance.

What is Encumbrance?

A) It is a process of Reservation of funds for anticipated expenditure from a budget. Encumbrance integrates GL, Purchasing and Payables modules.

How many Key Flex Fields are there in General Ledger?

A)One. Accounting Key Flex Field.

How many types of Budgets are there?

A)Two Types.

Expenditure Budgets

Revenue Budgets.

What are Spot Rate, Corporate Rate, Transaction Calendar and Accounting Calendar?

Spot Rate:

An exchange rate which you enter to perform conversion based on the rate on a specific date. It applies to the immediate delivery of currency.
Corporate Rate:
An Exchange rate that we define to standardize rates for our company. This rate is the standard market rate determined by the senior financial management for use through out the organization.
User Rate:
Conversion rate that is defined by the user.
EMU Fixed Rate: An exchange rate that is provided automatically by the General Ledger while entering journals. It uses a foreign currency that has a fixed relationship with the euro.
Transaction Calendar: Defines the business days and holidays for any calendar.
Accounting Calendar: Defines different types of calendars namely Fiscal, Federal Fiscal, Month etc.

What is Security Rule?

Security Rules are defined to control the access of a flexfield segment value (Financial information) at a responsibility level.

What are Cross Validation & ADI?

CVS – Cross validate segments – Allows only valid code combinations.
ADI – Allow dynamic inserts. – Allows any code combination irrespective of validity.
ADI would prevail if both of CVS and ADI are checked.

What is Translation?

A) Translation is a process used to convert functional currency to other reporting currencies at the account balances level.

What is Revaluation?

A) It is process used to revalue assets and liabilities denominated in foreign currency into functional currency based on period end exchange rate we specify. Unrealized gains/losses are resulted because of exchange rate fluctuations which are recorded in unrealized gain/loss account in GL.

What is FSG (Financial Statement Generator)?

A) Financial statement generator feature helps us to generate reports such as balance sheets and income statements with out programming. It also provides a high degree of control on the rows, columns, contents and calculations on the report. Different components such as row set, column set, content set, row order, display set have to be defined before a statement is generated, of which row set and column set are mandatory.

What is Consolidation?

A) Consolidation is a period-end process of combining the financial results of separate business subsidiaries with the parent company to form a single combined statement of financial results.

At what level General Ledger data is secured?

A) GL data is secured at Set of Book level. Subledger module data is secured at Responsibility level (i.e., at Operating Unit Level).