GL Accounting Cycle and Integration
1. Open Period
2. Create/Reverse journal entries
3. Post Journals
4. Review
5. Revaluate/Translate
6. Consolidate
7. Review/correct balances
8. Run reports
9. Close the periods
Integration of General Ledger with other modules:
Oracle General Ledger integrates with other modules. Following is the list of modules along with the details that flow to the General Ledger.
1. Payables sends Invoices, payments, adjustments, realized gain/loss on foreign currency and invoice price variance to GL.
2. Receivables sends invoices, payments, adjustments, debit memos, credit memos, cash, charge backs and realized gain and loss on foreign currency to GL.
3. Assets sends capital and construction in process asset additions, cost adjustments, transfers, retirements, depreciation and reclassifications.
4. Purchasing sends accruals or receipts not invoiced, purchase orders, final closes and cancellations.
5. HRMS sends employee details.
6. Payroll sends salary, deductions and tax information.
7. Inventory sends cycle counts, physical inventory adjustments, receiving transactions, delivery transactions, delivery transactions, intercompany transfers, sales order issue, internal requisitions, sub-inventory transfers and Cost of Goods Sold.
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