Journal Processing

GL supports a variety of journal entry types to meet your business & accounting reqirements.In GL there are four basic journal entry types.

Basic Processes           Total debits must equal total credits for journal entry.
The basic processes involved in journal entry are
1. Enter manual journal entries, including:
• Standard journal entries.
• Foreign and dual currency journal entries.
• Statistical journal entries.
• Intercompany journal entries.

2. Import journals from subledgers. If you encounter an error when trying to import a subledger journal, you can correct the import data and rerun journal import.

3. Define recurring journal formulas for transactions that have a common format or that you enter frequently. You can also create recurring journal formulas to create allocation entries.
You can use recurring journals to create three types of journal entries:
• Skeleton entries affect the same accounts each period, but have different posting amounts.
• Standard recurring journal entries use the same accounts and amounts each period. See: Creating Standard Recurring Journal.
• Formula entries use formulas to calculate journal amounts that vary from period to period.

4. Define MassAllocation formulas to allocate a cost pool across a group of departments, companies, etc.
 Generate recurring journal and MassAllocation journal batches based on formulas you defined.

5. Review the details of your unposted journal batches. Edit unposted journals to change information about an unposted
batch or its journal detail, including the batch period and the journal currency and finally post your journal batches manually or automatically.

Journal Components

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