Account Classification

Broadly Accounts are classified as

   Account Classification: Broadly Accounts are classified as

  •    Personal - Related with the Persons E.g. Mr. Paul’s A/C account at ABC Org
  •    Nominal - Pertaining to Income and Expenses E.g. Interest, Wages etc.
  •    Real - Pertaining to things / Properties E.g. Cash , building, Machinery etc .

General Accounting Rules for Every Account

  •     For Real A/C – Debit that whatever Comes in , Credit whatever goes out.
  •     For Nominal A/C– Debit expenses, losses and credit incomes and profits.
  •     For Personal A/C- Debit the Receiver, Credit the Giver.


Oracle Applications Fusion Cloud - Inventory

Oracle Cloud/Fusion Procurement training will help you develop the fundamental skills required to set up and use the Procurement module. This training covers all the tasks, setups, forms and reports used in Procurement and related modules