5/22/13 Oracle Financials Setups: General Ledger Interview Questions in R12

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General Ledger Interview Questions in R12

1) Can a flexfield qualifier be changed after it has been created?

Ans) No.

Once a segment qualifier has been designated for a specific segment and has been

saved, it will permanently have the attributes with that qualifier.

For example, you accidentally designate the cost center segment as the natural account

segment. Even though you do not compile this, the system saves the changes. And once

it has been saved, it will have all the attributes designated for the natural account qualifier,

even after it has been changed back, resaved with the correct qualifier and compiled.

This is the inherent functionality of the software.

Unfortunately, there is no real easy solution for this issue. The only option is to create a

new chart of accounts and attach a new set of books.

2) How to delete a segment value?

Ans) There is no supported way to delete a segment value. Segment values can only be

disabled not deleted.

3) Is there a way to load values for a specific segment outside of the form?

Ans) iSetup is the Oracle product that provides supported APIs to load values into Oracle

Applications flexfields.

To load code combinations ADI may be used. Uploading zero amount journals will create

new code combinations.

In this case Dynamic Insertion should be enabled and all account segment values need to

exist before the new account code combinations will be dynamically created.

4) What are the different types of Journals in General Ledger ?

Ans)

1. Functional Currency Jv: This Journal, we enter Local Currency transaction purpose.

2. Foreign Currency Jv: this Journal, we enter other than local currency transaction

purpose...before we define exchange rates

3.Suspense Jv: this Journal, whenever debit is not equal to credit that time, we enable in set ofbooks window Suspense button, then it works otherwise it's not working

4.Tax Jv: this Journal, calculate taxation of Purchased items

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5.Reverse Jv: this Journal whenever we enter recurring journal, at the time of we using..Wehave two methods...one is Debit to Credit and second one is sign (+ to -)

6.Recurring Jv :this one is We define one template, we use Periodically, these are 3 types

1.Standard 2.Skeleton 3.Formula

7.Mass Allocation Jv :Set of Expenses or Set of Revenue allocate different parts usingFormula A*B/C

A is Total Cost Pool..B is Usage Factor...C is Total Usage Factor...

8. Batch JV: Group of Journal we enter at a time, We Define Control Amount

9. Stat JV: This JV we have one side of Amount either debit or Credit.....

5) What is average Balance In Oracle Financials?

Ans) The Average Balance feature of Oracle General Ledger provides organizations with theability to track average and end-of-day balances, report average balance sheets, and create

custom reports using both standard and average balances. Average balance processing is

particularly important for financial institutions, since average balance sheets are required, in

addition to standard balance sheets, by many regulatory agencies. Many organizations also use

average balances for internal management reporting andProfitability analysis.

The difference between an average and standard balance sheet is that balances are expressed as

average amounts rather Than actual period-end amounts. An average balance is computed as

the sum of the actual daily closing balance for a balance sheet account, divided by the number of

calendar Days in the reporting period .

6) Is there a limit to the number of periods in a budget year or how many years a

budget can span?

Ans) One can define budgetary control for n number of years however, one year can havemaximum of 60 fiscal periods7)

7) What is a funding budget?

Ans) A budget against which accounting transactions are checked for available funds whenbudgetary control is enable for your set of books.

8) What is planning budget

Ans) The plan for the future expenses is planning budget. It is a paper work. There is no funds

requirement. It does not require journals. There are no restrictions for estimating of funds.

9) I was able to post a budget journal to a closed period, why?

Ans) Yes you can do so, reason being budget journal is not linked with your accounting

period. Once you have open the budget period then you can book budget journal for that

whole period.

10) What is the specific purpose of assigning Balancing Segment Values to the Legal

Entity in Accounting Manager Setup (as once assigned, the same value is not allowed

to be selected for any other Legal Entity), if this value is usable for the Operating

Unit(s) that does not have this Legal Entity Context?

Ans) Summary of key facts:

1. Common COA Structure used for Primary and Secondary Ledgers

2. Ledger shared by Multiple Legal Entities

3. Specific Balancing Segment Values assigned to Specific Legal Entity (Overlap not allowed)

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5/22/13 Oracle Financials Setups: General Ledger Interview Questions in R12

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4. Specific Legal Entity Vision Operations Assigned to Payables Manager OU for Legal Entity

Context

5. User preference set to Access Vision Operations OU by Default in Payables

Conclusion and Findings:

1. Balancing Segment Value Assignment to the Multiple Legal Entities, sharing the same Ledger

does not seem to restrict the user of these Balancing Segment Values in the Feeder, Operating

Unit specific Modules Like AP, wherein Legal Entity Context is passed to the OU through the

link of the Primary Ledger.

2. However, access to these Balancing Segment Values could be controlled through Security

Rules being assigned to the Value Set and the Respective Responsibility

3. The Key question is: If Legal Entity having the context to the Operating Unit that shares thecommon Ledger does not have assignment to it, what impact it has on the integrity of data when

this access is otherwise allowed, except through Security Rules?

11) What are the interface tables in General Ledger ?

Ans)

GL_BUDGET_INTERFACE GL_DAILY_RATES_INTERFACE

GL_IEA_INTERFACE

GL_INTERFACE

GL_INTERFACE_CONTROL

GL_INTERFACE_HISTORY

12) What is DFF.

Question: What does DFF mean?Answer: DFF is a mechanism that lets us create new fields in screens that are delivered by

Oracle.

Question: Oh good, but can these new fields be added without modifying/customization of the

screen?.

Answer: Yes, certainly. Only some setup is needed, but no programmatic change is needed to

setup DFF.

Question: Why the word Descriptive in Name DFF?

Answer: I think Oracle used this terminology because by means of setup...you are describing

the structure of these new fields. Or may be Oracle simply used a silly word to distinguish DFFfrom KFF(discussed in latter training lesson).

Question: Are these DFF's flexible?

Answer: A little flexible, for example, depending upon the value in a field, we can make either

Field1 or Field2 to appear in DFF.

Question: So we create new fields in existing screen, but why the need of doing so?

Answer: Oracle delivers a standard set of fields for each screen, but different customers have

different needs, hence Oracle lets us create new fields to the screen.

Question: Are these new fields that get created as a result of DFF free text?

I mean, can end user enter any junk into the new fields that are added via DFF?

Answer: If you attach a value set to the field(at time of setup of dff), then field will no longer be

free text. The entered value in the field will be validated, also a list of valid values will be

provided in LOV.

Question : Will the values that get entered by the user in dff fields be updated to database?

Answer: Indeed, this happens because for each field that you create using DFF will be mapped

to a column in Oracle Applications.

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Question: Can I create a DFF on any database column?

Answer: Not really. Oracle delivers a predefined list of columns for each table that are meant

for DFF usage. Only those columns can be mapped to DFF segments. These columns are

named similar to ATTRIBUTE1, ATTRIBUTE2, ATTRIBUTE3 ETC. Usually Oracle provides

upto 15 columns, but this number can vary.

Question: Can I add hundreds of fields to a given screen?

Answer: This depends on the number of attribute columns in the table that screen uses. Also,

those columns must be flagged as DFF enabled in DFF Registration screen. Don't need to

worry much about this because all the ATTRIBUTE columns are by default flagged for their

DFF usage.

Question: Hmmm, I can see that DFFs are related to table and columns...

Answer: Yes correct. Each DFF is mapped to one table. And also each segment(or call it field)

is mapped to one of the attribute columns in that table.

Question: I want these fields to appear in screen only when certain conditions are met. Is it

possible?

Answer: Yes, we have something known as Context Sensitive Descriptive Flexfields.

In Order to do this, we will follow the below steps(screenshots will follow) :-

1. Navigate to the DFF Registration screen in Oracle Apps and query on Table

AP_BANK_BRANCES. Now click on Reference Field

2. Navigate to DFF Segments screen and query on the Title of the “Bank Branch” and

Unfreeze the Flexfield and add segments as to Section "GLOBAL Data Elements" as shown in

screenshots.

13) What is Journal Import?

Ans) 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

14) What is the use of GL_Interface?

Ans) 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.

15) What is Actual Flag?

Ans) Actual flag represents the Journal type.

A-Actual

B-Budget

E- Encumbrance.

16) What is Encumbrance?

Ans) It is a process of Reservation of funds for anticipated expenditure from a budget.

Encumbrance integrates GL, Purchasing and Payables modules.

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17) How many Key Flex Fields are there in General Ledger?

Ans) One. Accounting Key Flex Field.

18) How many types of Budgets are there?

Ans) Two Types.

Expenditure Budgets

Revenue Budgets.

19)What are Spot Rate, Corporate Rate, Transaction Calendar and Accounting

Calendar?

Ans) 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.

20)What is Security Rule?

Ans) Security Rules are defined to control the access of a flexfield segment value

(Financial information) at a responsibility level.

21) What are Cross Validation & ADI?

Ans) 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.

22)What is Translation?

Ans) Translation is a process used to convert functional currency to other reporting

currencies at the account balances level.

23)What is Revaluation?

Ans) 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.

24)What is FSG (Financial Statement Generator)?

Ans) 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

x

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Posted by Raju ERP at 03:13

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.

25) What is Consolidation?

Ans) 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.

26) At what level General Ledger data is secured?

Ans) GL data is secured at Set of Book level. Subledger module data is secured at

Responsibility level (i.e., at Operating Unit Level).

27) Difference between Primary Ledger and Secondary Ledger in R12 ?

Ans) Primary ledger:

The primary ledger acts as the primary accounting representation

Secondary Leger:

Secondary ledgers represent the primary ledger's accounting data in another accounting

representation that differs in one or more of the following ways:

chart of accounts

accounting calendar/period type combination

currency

subledger accounting method

ledger processing options

Use secondary ledgers for supplementary purposes, such as consolidation, statutory

reporting, or adjustments for one or more legal entities within the same accounting setup.

For example, use a primary ledger for corporate accounting purposes that uses the

corporate chart of accounts and subledger accounting method, and use a secondary

ledger for statutory reporting purposes that uses the statutory chart of accounts and

subledger accounting method. This allows you to maintain both a corporate and statutory

representation of the same legal entity's transactions in parallel.

Assign one or more secondary ledgers to each primary ledger for an accounting setup.

The secondary ledgers assigned can only perform the accounting for the legal entities

within the same accounting setup.

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2 comments:

Shiva Prasad 16 March 2013 22:08

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Replies

Reply

Revere button in R 12 is grayed out. Until you post the journal entry it is not enabled

where as in 11i before the journals are posted the journals can be reversed. Why

this feature is not enabled in R12? Was it a bug in 11i?

Reply

Nagaraju Erp 20 March 2013 03:06

In release 12 journals need to be posted before they can be reversed,

that is why you are

seeing the 'Reverse Batch' button grayed out.

However it is still possible to set the reversal period and method for an

unposted journal.

It will need to be done from the Journals screen as opposed to the Batch

screen.

In the Journals screen in the right upper side of the form there is a

Reverse section where you can

define the Period and Method for reversal.

Please review the information below which comes from page 1-201 of the

Oracle

General Ledger Users Guide, release 12.

To assign a reversal period and effective date to a journal entry:

1. Navigate to the Enter Journals window.

2. Query the batch and journal within the batch for which you want to

assign a

reversal period.

You must have read and write access to the ledger or read and write

access to the

journal's balancing segment values or management segment values.

3. From the Enter Journals window, choose Review Journal.

The Journals window appears.

4. In the Reverse region, select a period from the Period list of values for

the reversing

entry. If average balances is enabled, you must also enter the Effective

Date.

5. In the Reverse region, select a reversal method from the Method drop-

down list.

Switch Dr/Cr: General Ledger creates your reversing journal by switching

the debit

and credit amounts of the original journal entry. This method is often used

when

reversing accruals.

Change Sign: General Ledger creates your reversing journal by changing

the sign

of your original journal amounts from positive to negative. This reversal

method is

often used when reversing journals to correct data entry mistakes.

Once you enter the effective date, reversing period, and reversal method,

the

journal entry is marked for reversal and will appear in the Reverse

Journals

window.

6. Generate the reversing entry from the Enter Journals window by

choosing Reverse

Batch or from the Reverse Journals window by choosing Reverse.

Note: You must have read and write access to the ledger or read

and write access to all of the journal's balancing segment values or

management segment values to reverse the journal.

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