Oracle General Ledger (GL) Interview Preparation Guide

Discount refers to the payment terms or on quantity(bulk oreder discount)oredered.In the invoice received from supplier,discounts term is sepcificaly stated.E.G. If paid with in 15 days discount @ 2%,what you need to do is pay 2% less then the original invoice amount,however caution should be taken that the freight amount should not be considered while calculating the discount.Adjusment could be for various reasons.Over priced invoice,short delivery of quantity as per goods received note,poor quality etc.Agreed upon amount will be deducted from the invice, while making the payments.

GL Accounting cycle can be further elaborated like this...

1.Open Period.

2.Create Functional and foreign journal entries.(including the journal import from legacy systems and subledgers).

3.Reverse journal entries.

4.Post the journals.

5.Review and correct the balances.

6.Revalue foreign currency balances.

7.Translate foreign currency balances.

8.Consolidate set of books.

9.Run accounting reports.

10.Close the accounting periods.
AP cycle
--------
Purchase Order --> Receipt --> AP voucher --> Payment made

AR Cycle
--------
Sales Order --> Shipment --> Invoice --> Payment receipt

GL cycle
--------
Direct GL JE / Transfer subledger data to GL --> Post

Summary Account is an account whose balance represents the sum of other account balances. You can use summary accounts for faster reporting and inquiry as well as in formulas and allocations.

Rollup group is a collection of parent segment values for a given segment. You use rollup groups to define summary accounts based on parents in the group. You can use letters as well as numbers to name your rollup groups.

All the setups(Form, form function, form function attaching to menu, menu to responsibility) are fine. But even I am getting the error Function is not available to this responsibiltiy, please contact the system administrator.

This error we are getting for all custom developed forms. Same things are working fine in other instances.

VB.NET is a windows application

Where as C# is a console


vb.net is supported multiple inheritance c# does not supported multiple inheritances

set of book is a combination of currency,calendar,chart of accounts. Four conditions when u change ur sob is:

1.check your currency

2.check your calendar

3.check your chart of accounts

4.You have to assign your sob to your responsibility

If it is accounting period types, then there are three pre-defined types, namely month, quarter and year. User can also add period types.

If it is period status, then there are 5 period status, namely Never opened, Open, Future Enterable, closed and Permanently closed.

Types of invoices:
Invoice
Credit Memo
Debit Memo
Gaurantee
Charge Back
Deposite

Cross Validation Rule:Rules that define valid combinations of segment values a user can enter in an account. Cross-validation rules restrict users from entering invalid combinations of account segment values.

Security Rule:It determines the accounting transaction user can view at differenty levels of hierarchy, such as at Site Level -->Application Level --> Responsibility Level --> User level.

1. Manual entry
2. Subledger Entry
3. Spreadsheet Entry
4. Recurring Entry
5. Mass Allocation