What is the setup that decides whether to allow reversal changes in journals coming from sub ledgers?
Use the Reversal Method option to determine how the reversal subledger journal entries are generated in Subledger Accounting for a given application and ledger.
How are subledger applications transferred into the ledger Oracle?
The process that allows transfer of subledger journal entries to general ledger uses separate processing workers that are specialized in general ledger transfer. A lightweight general ledger transfer parent process is used to distribute the workload to the workers.
What is subledger accounting method in Oracle R12?
Subledger Accounting Setups – Accounting Methods Builder – Methods and Definitions – Journal Line Definitions Enter search information and click Find in the Find Journal Line Definitions window. Click Copy Definition. Inquiry – Journal Entries. Select Subledger Journal Entries tab.
What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?
accounting sequence
The accounting sequence is assigned to subledger journal entries at the time that the journal entry is completed.
What is a subledger vs general ledger?
General ledger accounts provide summaries, while subledger accounts provide details. Your general ledger is designed to provide the balance of each of the accounts in your chart of accounts, while the subledger is designed to provide you with the details that make up that particular account.
Are reversing entries required?
Reversing entries are optional accounting procedures which may sometimes prove useful in simplifying record keeping. A reversing entry is a journal entry to “undo” an adjusting entry.
What is Oracle subledger accounting?
Subledger Accounting (SLA) is a rule-based accounting engine that centralizes accounting for Oracle E-Business Suite products in R12. Together with the new ledger support, Subledger Accounting enables support of multiple accounting requirements concurrently in a single instance.
What is a subledger account?
A subledger is a ledger containing all of a detailed sub-set of transactions. The total of the transactions in the subledger roll up into the general ledger. For example, a subledger may contain all accounts receivable, or accounts payable, or fixed asset transactions.
What is subledger accounting in Oracle Fusion?
Subledger Accounting (SLA) is an Engine that transforms Subledger transactions into Journal Entries in General Ledger. It caters to seeded Subledgers such as Receivables and Payables, and also to Custom Subledgers created by Accounting Hub.
What is a sub ledger in accounting?
A subledger or subsidiary ledger provides the details that make up the balance of specific general ledger accounts. Because general ledger accounts only provide an ending balance for each particular account, a subsidiary ledger is used to provide the details that result in that general ledger balance.
How do you reconcile subledger to general ledger?
The reconciliation process involves comparing the general ledger and the subledger entries, identifying and classifying differences, preparing a reconciliation statement, and processing adjustments necessary in either the subledger of the general ledger or in both.
Are all adjusting entries reversed?
The only types of adjusting entries that may be reversed are those that are prepared for the following: accrued income, unearned revenue using the income method, and. prepaid expense using the expense method.
How do I change the accounting method for a subledger?
On the Specify Ledger Options page, Subledger Accounting region, select the new Accounting Method . Click Save and Close . Accounting methods group subledger journal entry rule sets.
What is the difference between subledger and primary Ledger?
The combination of a subledger accounting method and ledger is called an accounting representation. The primary ledger reflects the primary accounting representation. In the primary ledger, the transaction and accounting charts of accounts are always the same.
How are subledger journal entries transferred to the general ledger?
Each subledger journal entry line is transferred into the general ledger with the same granularity as the original lines. This option is available only for Oracle subledgers. Indicates that all subledger journal entries with the same accounting date are grouped together.
How to check accounting method attached to a ledger?
Go to Setup and Maintenance > Financial > General Ledger > Specify Ledger Option. Ensure that you select the scope by selecting the primary ledger. Post clicking on the highlighted task, we can check the accounting method attached at the sub ledger section.