Define recurring journal formulas for transactions that you repeat every accounting period, such as accruals, depreciation charges, and allocations. Your formulas can be simple or complex. Each formula can use fixed amounts and/or account balances, including standard, end-of-day, or average balances, actual or budget amounts, statistics, and period-to-date or year-to-date balances from the current period, prior period, or same period last year. You can quickly create new recurring formulas by copying and modifying existing formulas.
You can use recurring journals to create three types of journal entries:
Skeleton Journal Entries: Skeleton entries affect the same accounts each period, but have different posting amounts. After you generate skeleton journal entries, you can edit the unposted journal batch using the Enter Journals form and enter the journal line amounts.
Skeleton journal entries are useful with statistical information whenever you want to record journals for actual transactions based on statistical amounts, such as headcount, units sold, inflation rates, or other growth factors. For example, if you want to enter headcount for each cost center every period, you can define a skeleton entry with your headcount accounts. After you generate the skeleton entries, enter the actual headcount amounts before posting the batch. 
Standard Recurring Journal Entries: Standard recurring journal entries use the same accounts and amounts each period.
Recurring Journal Formula Entries: Formula entries use formulas to calculate journal amounts that vary from period to period.

        Important: If you use summary accounts in your recurring journals, General Ledger maintains references to those summary account templates, even if you delete then recreate the summary accounts.

        What is ERP?
        Enterprise Resource Planning or ERP is an industry term for integrated, multi-module application software packages that are designed to serve and support multiple business functions.
        ERP provides the backbone for an enterprise-wide information system.
        Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer.
        At the core of this enterprise software is a central database which draws data from and feeds data into modular applications that operate on a common computing platform, thus standardizing business processes and data definitions into a unified environment.
        Brief History of ERP
        The focus of manufacturing systems in the 1960′s was on Inventory control. Most of the software packages then (usually customized) were designed to handle inventory based on traditional inventory concepts. In the 1970′s the focus shifted to MRP (Material Requirement Planning) systems that translated the Master Schedule built for the end items into time-phased net requirements for the sub-assemblies, components and raw materials planning and procurement.
        In the 1980′s the concept of MRP-II (Manufacturing Resources Planning) evolved which was an extension of MRP to shop floor and Distribution management activities. In the early 1990′s, MRP-II was further extended to cover areas like Engineering, Finance, Human Resources, Projects Management etc i.e. the complete gamut of activities within any business enterprise. Hence, the term ERP (Enterprise Resource Planning) was coined.
        Why is it Necessary?
        By becoming the integrated information solution across the entire organization, ERP systems allow companies to better understand their business.
        With ERP software, companies can standardize business processes and more easily enact best practices.
        By creating more efficient processes, companies can concentrate their efforts on serving their customers and maximizing profit.
        Market Leaders
        The top five ERP vendors, SAP, Oracle Corporation, Peoplesoft, Inc. (now Oracle Corp.), JD Edwards & Company, and Baan International, account for 64 percent of total ERP market revenue. These vendors continue to play a major role in shaping the landscape of new target markets, with expanded product functionality, and higher penetration rates. SAP dominates the $6.7 billion ERP applications market in Europe with 39% market share. Oracle and PeopleSoft come second and third respectively, followed by SAGE Group and Microsoft Business Solutions.

        Overview of popular ERP Products
        Oracle E- Business Suite
        Oracle E-Business Suite is the industry’s only complete and integrated set of enterprise applications, working together seamlessly to streamline every area of your business—from sales, service, and marketing, through financials and human resources, to supply chain and manufacturing.
        Oracle E-Business Suite is your fastest path to high-quality enterprise intelligence, bringing your company a true 360-degree view of your finances, your customers, and your supply chains, so you can make faster, better decisions and grow profitability in a competitive marketplace.
        Oracle E- Business Suite – Industry Applications
        Oracle E-Business Suite 11i.10 offers over 2,100 new capabilities, half of which meet specific industry needs, including:
        Financial Services: SOP documentation and auditing for compliance with Sarbanes-Oxley and other regulations
        Healthcare: Medication administration, patient encounter-specific financial information, integrated patient care and operational intelligence
        Manufacturing/High Technology: Option-dependent sourcing, automated spare parts return and repair processing, international drop shipments, distribution planning
        SAP
        What is SAP?
        SAP (Systems, Applications, and Products in Data Processing) is the leading ERP (Enterprise Resource Planning) software package.
        SAP was the first to integrate a corporation’s worldwide functions tightly into one application.
        SAP R/2 was released as the first version of their software in 1979. Its domination of the market occurred during the 1980s, expanding first throughout Europe (early 1980s) and then North America (1988).
        SAP R/3, an advanced, client-server based version of the popular R/2 product, was released in 1992 and sparked a stunning takeover of America’s largest businesses — 44% of US companies were using it within five years of its expansion.
        In 1999, SAP introduced its newest major product upgrade. Named mySAP.com to emphasize its shift to an e- business focus, mySAP.com builds on the strengths of the SAP R/3 product in a fully Internet enabled architecture
        SAP R/3 Overview
        SAP R/3 is SAP’s integrated software solution for client/server and distributed open systems. SAP’s R/3 is the world’s most-used standard business software for client/server computing. The software is highly customizable using SAP’s proprietary programming language, ABAP/4.
        R/3 is scalable and highly suited for many types and sizes of organizations. SAP R/3 is based on various hardware and software architectures, running on most types of UNIX, on Windows NT and OS/400. SAP R/3 runs on several databases Oracle, Adabas D, Informix, DB2 for UNIX, DB2/400, and Microsoft’s SQL Server 6.0.
        mySAP ERP
        mySAP ERP combines the world’s most complete, scalable, and effective software for enterprise resource planning (ERP) with a flexible, open technology platform that can leverage and integrate SAP and non-SAP systems. It provides end-to-end software functionality for enterprise management and support — plus support for systems management — all powered by the SAP NetWeaver platform.
        mySAP ERP comes with four individual solutions that support key business processes:
        mySAP ERP Financials
        mySAP ERP Human Capital Management
        mySAP ERP Operations
        mySAP ERP Corporate Services
        PeopleSoft
        PeopleSoft Enterprise is a suite of best-in-class applications built on our Pure Internet Architecture and designed for the most complex business requirements. Ideally suited for large, company-wide functions across all industries, it provides industry-leading web services integration with multi-vendor and homegrown applications. PeopleSoft Enterprise can be easily configured and adapted to meet the most unique customer requirements. In addition, it supports the broadest choice of technology infrastructure in the industry.
        Campus Solutions
        Customer Relationship Management
        Financial Management
        Human Capital Management
        Service Automation
        Supply Chain Management
        Enterprise Tools and Technology
        Siebel
        What Is Siebel?
        Siebel Systems is an eBusiness solutions company and a market-leading provider of Customer Relationship Management (CRM) software.
        Tom Siebel (CEO) and Pat House (Executive Vice President) founded Siebel Systems in July 1993. Headquartered in San Mateo, California.
        Siebel’s initial product set out to organize and automate the sales force with calendars and contact management systems. It has since added numerous other Customer Service, Marketing and e-Commerce applications to its product line.
        Siebel Product Overview
        Siebel’s applications allow companies to access information about their customers whenever they need it. Siebel’s main product line includes its Call Center, Field Services and Sales, and Marketing applications, which allow employees located in different parts of a company to have access to the information they need to assist, service and make additional sales to customers.
        Advantages of Oracle E-Business Suite
        Oracle ERP Suite is based on Oracle Apps framework. What that essentially means to the customers is that no matter which component of the suite you buy, you get the same look and feel.
        Oracle Database
        The biggest USP of Oracle ERP is that it is based on Oracle Database, which in itself is a market leader. So the Oracle ERP is best placed to take advantage of the advances in the database technology. The buzzword is “If it is in the database, you will get it and get it fast!!”
        Consultants
        As far as the components of the suite itself are concerned Oracle Financials is a market leader, Oracle HRMS and Payroll they are catching up pretty fast. So the market indications are pretty positive and you have enough consultants in the market to cash in.
        UI
        Oracle Apps UI comes in two flavours – The Oracle Forms and the Oracle Self Service Application (HTML). The former is meant for the power user and provides incredibly quick learning curves for people from the finance and other domains who are used to Fox pro and dBase forms.
        The Oracle Self Service Application is an HTML based solution and specifically caters to the global organization where Internet plays a major role.
        Role Based Security
        Oracle has been a pioneer in Database Security systems and the buzz word of Oracle Database is “Unbreakable”. Oracle Apps seem to gain from this legacy of secure systems. The role based security system offered by Oracle Apps is one of the better security models available currently.
        Advantage over Best of Breed Software
        Best of breed software cater to specific areas like HRMS, Financials etc. If your business is looking for software in only one specific area and you don’t think s/w for the other areas are required, you might be tempted to go for these offering… But one word of caution, in case you go for s/w for other areas where you select another best of breed s/w, you might end up paying exceptional amount of money in integrating the two softwares.
        This is where Oracle Apps and other Suite vendors like SAP score over the best of the breed software. Implementing different parts of the suite would be much less costly than best of breed software and getting them to talk to each other.
        Fast adoption of standards
        By past record Oracle has a good record of adoption of new legal and technological standards which keep arising from time to time. So standards like Rosettanet, uccnet would be adopted as they solidify.
        Ease of customization and installation
        Oracle has a good record on supporting products. Oracle Apps are quite easy to install and customize according to your business needs.

        Open: In the Open status you can enter and post Journals.

        Closed: In this status Journal entry and posting not allowed until accounting period is reopened. Reporting and inquiry allowed.

        Permanently Closed: In this status Journal entry and posting not allowed. You cannot change this period status. Reporting and inquiry allowed. You can change the status.

        Never Opened: Journal entry and posting are not allowed. General Ledger assigns this status to any period preceding the first period ever opened in your
        calendar, or to any period that has been defined, but is not yet future-enterable. You cannot change this period status.

        Future-Entry: Journal entry is allowed, but posting is not. Your period is not yet open, but falls within the range of future-enterable periods you designated in the Set of Books window. You cannot change this period status without using the concurrent process to open the period.

        The different types of ordering methods followed across the organizations are discussed below and must follow one of these categories:

        Make to Order:

        A business production strategy that typically allows consumers to purchase products that are customized to their specifications. The make to order (MTO) strategy only manufactures the end product once the customer places the order. This creates additional wait time for the consumer to receive the product, but allows for more flexible customization compared to purchasing from retailers’ shelves.

        Make To Stock:

        A traditional production strategy used by businesses to match production with consumer demand forecasts. The make-to-stock (MTS) method forecasts demand to determine how much stock should be produced. If demand for the product can be accurately forecasted, the MTS strategy can be an efficient choice.

        Assemble to order:

        A business production strategy where product ordered by customers can be produced quickly and are customizable to a certain extent. The assemble-to-order (ATO) strategy requires that the basic parts for the product are already manufactured but not yet assembled. Once an order is received, the parts are assembled quickly and sent to the customer.

        Make To Assemble:

        A manufacturing production strategy where a company stocks the basic components of a product based on demand forecasts, but does not assemble them until the customer places an order. This allows for order customization. MTA production is basically a hybrid of two other major types of manufacturing production strategies: make to stock (MTS) and make to order (MTO).
        Oracle has developed this ERP solution which truly covers these both cycles Purchase to Pay and Order to Cash. Oracle EBS comprises of the Standard Core Business Management applications like General Ledger, Payables, Receivables, Cash Management, Fixed asset, Purchasing, Order Management, Inventory, Discrete Manufacturing, Process Manufacturing , HRMS and many more. The application mentioned are so integrated that it handles the beginning to end of both Assets (Order Management and Receivables) and Liabilities (Purchasing and Payables). These Assets and Liabilities are finally pushed and calculated in Oracle General Ledger. The base or the heart of Oracle EBS is Oracle General Ledger. Let me  call GL an intrinsic.

        Order to Cash Cycle:

        Order to Cash means Customer’s Order Placing to Vendor’s Cash Receiving. When your final product is ready to be sold, you market it. The customer gets fascinated with the marketing campaign and decides to buy your product and from here starts the O2C cycle.
        1. Oracle Order Management: Customer places the order.
        2. Oracle Order Management: You enter the customer order
        3. Oracle Inventory: Check the available unit and the quantity ordered by the customer.
        4. Oracle Order Management: You ship the product to customer site and decreases the Finished Goods inventory.
        5. Oracle Receivables: The customer receives the product and you invoice the customer.
        6. Oracle General Ledger: You record your revenue and receivables.
        7. Oracle Receivables: The customer pays and you receive the cash/check.
        8. Oracle Cash Management: Oracle Receivables sends the customer receipt for Bank Reconciliation. After reconciliation, Oracle Cash Management send the actual bank balance or Oracle General Ledger.
        9. Oracle General Ledger: You have the actual bank balance.

        Following Accounting entries will be generated for O2C

        • Sales order creation – No entries
        • Pick release:
          Inventory Stage A/c…………………Debit
          Inventory Finished goods a/c……..Credit
        • Ship confirm:
          Cogs A/c ……………………………Debit
          Inventory Organization a/c………Credit
        • Receviable:
          Receviable A/c………………………Debit
          Revenue A/c………………………Credit
          Tax ………………..…………………Credit
          Freight…………..….……………….Credit
        • Cash:
          Cash A/c Dr…………………………Debit
          Receivable A/c……………………….Credit

        Procure to Pay:

        Procure to Pay means Procuring Raw Materials, or semi finished goods required to manufacture the final or finished Goods to Paying the Supplier from whom the material was purchased. But this is not just two steps. It involves many steps which are mentioned below:
        1. Oracle Purchasing: You enter Suppliers of different materials and products you want to purchase to  manufacture a finished good that your organization plans to sell.
        2. Oracle Purchasing: You prepare a Request for Quotation (RFQ) and send it to different suppliers to get the best and/or economical price for the product.
        3. Oracle Purchasing: Suppliers sends their quotations and you upload those quotations in Oracle Purchasing to get the best three quotes and further to get the one best quote.
        4. Oracle Purchasing: You prepare a Purchase Order(PO) against the best RFQ to buy the goods from the supplier who quoted the suitable price and sends the PO to that supplier
        5. Oracle Purchasing: The supplier receives the confirmation of purchase from PO and ships the ordered goods. You receive the goods enter a Goods Received Note (GRN) in Oracle Purchasing.
        6. Oracle Inventory / Oracle Assets: It’s up to you whether you want to receive the goods at your head office or you Inventory directly. In either case you move the received goods to your different Raw Material Inventory from Oracle Purchasing to Oracle Inventory and the Item Count increases. If the item is Asset Type then it will move to Oracle Assets at the time of Invoice creation in Oracle Payables.
        7. Oracle General Ledger: Once you move the goods to Oracle Inventory, it sends the Material Accounting to Oracle General Ledger.
        8. Oracle Payables: After this the supplier sends you the invoice for the purchased goods and you Enter or Match the invoice against the PO from Oracle Purchasing in Oracle Payables. As said before, if the item is Asset in nature then it will move to Oracle Asset.
        9. Oracle General Ledger: When you enter the invoice it means that you have created a Liability against that supplier and also you have recorded the expense incurred or asset purchased. Oracle Payables sends the invoice accounting to Oracle General Ledger.
        10. Oracle Payables: You pay the invoice and settle the Liability.
        11. Oracle General Ledger: The liability is settled and your cash movement account is updated.
        12. Oracle Cash Management: As you pay the invoice Oracle Payables sends the payment information to Oracle Cash Management for Bank Reconciliation. Once reconciled, Oracle Cash Management sends the updated Bank/Cash accounting entry to Oracle General Ledger.
        13. Oracle General Ledger: Your cash at bank is updated with actual balance.
        14. Oracle Process Manufacturing(OPM) / Oracle Discrete Manufacturing(ODM): You start the manufacturing of your final product. Both OPM or ODM requests the different raw materials from you inventory organizations and manufactures a finished good.
        15. Oracle Inventory: As the raw materials are issued to OPM and ODM the inventory sends the issuing material accounting to General Ledger and decreases the Item Count from the Raw Material Store. As the finished good is prepared, Oracle Inventory receives the finished good in Finished Good Store and increase the Item Count.

        Following Accounting entries will be generated for P2P:

        • Purchase Requisition creation No entry
        • Purchase Order creation no entry
        • Inventory Receipt:
          Inventory A/c…………….Debit
          AP Accrual A/C………Credit(This A/c We are giving in Financial Option)
        • At the time of Matching the Invoice with Purchase Order
          AP Accrual A/c………….Debit
          Supplier A/c…………..Credit
        • At the time of making payment to supplier
          Supplier A/C…………… Debit
          Bank A/c…………….Credit
        This is how the P2P and O2C cycle works, but this is not the only way, obviously there are many other applications with different cycles.

        Oracle A.I.M. Methodology encompasses a project management methodology with documentation templates that support the life cycle of an implementation. The life cycle methodology and documentation templates allows A.I.M. to be a very useful tool for managing implementation projects successfully.
        This is a depiction of the A.I.M. methodology life cycle:
        Application Implementation Method is a proven approach for all the activities required to implement oracle applications. there are eleven processes of implementation.
        1. Business Process Architecture [BP] – This phase outlines:
        • Existing Business Practices
        • Catalog change practices
        • Leading practices
        • Future practices
        BP.010 Define Business and Process Strategy
        BP.020 Catalog and Analyze Potential Changes
        BP.030 Determine Data Gathering Requirements
        BP.040 Develop Current Process Model
        BP.050 Review Leading Practices
        BP.060 Develop High-Level Process Vision
        BP.070 Develop High-Level Process Design
        BP.080 Develop Future Process Model
        BP.090 Document Business Procedure
        2. Business Requirement Definition [RD] – This phase explains about the initial baseline questionnaire and gathering of requirements.
        RD.010 Identify Current Financial and Operating Structure
        RD.020 Conduct Current Business Baseline
        RD.030 Establish Process and Mapping Summary
        RD.040 Gather Business Volumes and Metrics
        RD.050 Gather Business Requirements
        RD.060 Determine Audit and Control Requirements
        RD.070 Identify Business Availability Requirements
        RD.080 Identify Reporting and Information Access Requirements
        3. Business Requirement Mapping [BR] – In this phase the requirements of business are matched with the standard functionality of the oracle applications.
        BR.010 Analyze High-Level GapsBR.020 Prepare mapping environment
        BR.030 Map Business requirements
        BR.040 Map Business Data
        BR.050 Conduct Integration Fit Analysis
        BR.060 Create Information Model
        BR.070 Create Reporting Fit Analysis
        BR.080 Test Business Solutions
        BR.090 Confirm Integrated Business Solutions
        BR.100 Define Applications Setup
        BR.110 Define security Profiles
        4. Application and Technical Architecture [TA] – This outlines the infrastructure requirements to implement oracle applications.
        TA.010 Define Architecture Requirements and Strategy
        TA.020 Identify Current Technical Architecture
        TA.030 Develop Preliminary Conceptual Architecture
        TA.040 Define Application Architecture
        TA.050 Define System Availability Strategy
        TA.060 Define Reporting and Information Access Strategy
        TA.070 Revise Conceptual Architecture
        TA.080 Define Application Security Architecture
        TA.090 Define Application and Database Server Architecture
        TA.100 Define and Propose Architecture Subsystems
        TA.110 Define System Capacity Plan
        TA.120 Define Platform and Network Architecture
        TA.130 Define Application Deployment Plan
        TA.140 Assess Performance Risks
        TA.150 Define System Management Procedures
        5. Build and Module Design [MD] – This phase emphasizes the development of new functionality (customization) required by the client. It mainly details how to design the required forms, database and reports.
        MD.010 Define Application Extension Strategy
        MD.020 Define and estimate application extensions
        MD.030 Define design standards
        MD.040 Define Build Standards
        MD.050 Create Application extensions functional design
        MD.060 Design Database extensions
        MD.070 Create Application extensions technical design
        MD.080 Review functional and Technical designs
        MD.090 Prepare Development environment
        MD.100 Create Database extensions
        MD.110 Create Application extension modules
        MD.120 Create Installation routines
        6. Data Conversion [CV] – Data Conversion is the process of converting or transferring the data from legacy system to oracle applications. Ex. Transferring customer records from the legacy to the Customer Master.
        CV.010 Define data conversion requirements and strategyCV.020 Define Conversion standards
        CV.030 Prepare conversion environment
        CV.040 Perform conversion data mapping
        CV.050 Define manual conversion procedures
        CV.060 Design conversion programs
        CV.070 Prepare conversion test plans
        CV.080 Develop conversion programs
        CV.090 Perform conversion unit tests
        CV.100 Perform conversion business objects
        CV.110 Perform conversion validation tests
        CV.120 Install conversion programs
        CV.130 Convert and verify data
        7. Documentation [DO] – Documentation prepared per module that includes user guides and implementation manuals.
        DO.010 Define documentation requirements and strategy
        DO.020 Define Documentation standards and procedures
        DO.030 Prepare glossary
        DO.040 Prepare documentation environment
        DO.050 Produce documentation prototypes and templates
        DO.060 Publish user reference manual
        DO.070 Publish user guide
        DO.080 Publish technical reference manual
        DO.090 Publish system management guide
        8. Business System Testing [TE] – A process of validating the setup’s and functionality by QA(functional consultant) to certify status.
        TE.010 Define testing requirements and strategyTE.020 Develop unit test script
        TE.030 Develop link test script
        TE.040 Develop system test script
        TE.050 Develop systems integration test script
        TE.060 Prepare testing environments
        TE.070 Perform unit test
        TE.080 Perform link test
        TE.090 perform installation test
        TE.100 Prepare key users for testing
        TE.110 Perform system test
        TE.120 Perform systems integration test
        TE.130 Perform Acceptance test
        9. Performance Testing [PT] – Performance testing is the evaluation of transactions saving time, transaction retrieval times, workflow background process, database performance, etc
        PT.010 – Define Performance Testing StrategyPT.020 – Identify Performance Test Scenarios
        PT.030 – Identify Performance Test Transaction
        PT.040 – Create Performance Test Scripts
        PT.050 – Design Performance Test Transaction Programs
        PT.060 – Design Performance Test Data
        PT.070 – Design Test Database Load Programs
        PT.080 – Create Performance Test TransactionPrograms
        PT.090 – Create Test Database Load Programs
        PT.100 – Construct Performance Test Database
        PT.110 – Prepare Performance Test Environment
        PT.120 – Execute Performance Test
        10. Adoption and Learning [AP] – This phase explains the removal of the legacy system and oracle application roll out enterprise wide.
        AP.010 – Define Executive Project StrategyAP.020 – Conduct Initial Project Team Orientation
        AP.030 – Develop Project Team Learning Plan
        AP.040 – Prepare Project Team Learning Environment
        AP.050 – Conduct Project Team Learning Events
        AP.060 – Develop Business Unit Managers’Readiness Plan
        AP.070 – Develop Project Readiness Roadmap
        AP.080 – Develop and Execute CommunicationCampaign
        AP.090 – Develop Managers’ Readiness Plan
        AP.100 – Identify Business Process Impact onOrganization
        AP.110 – Align Human Performance SupportSystems
        AP.120 – Align Information Technology Groups
        AP.130 – Conduct User Learning Needs Analysis
        AP.140 – Develop User Learning Plan
        AP.150 – Develop User Learningware
        AP.160 – Prepare User Learning Environment
        AP.170 – Conduct User Learning Events
        AP.180 – Conduct Effectiveness Assessment
        11. Production Migration [PM] – The process of “decommissioning” of legacy system and the usage(adoption) of oracle application system.
        PM.010 – Define Transition Strategy
        PM.020 – Design Production Support Infrastructure
        PM.030 – Develop Transition and Contingency Plan
        PM.040 – Prepare Production Environment
        PM.050 – Set Up Applications
        PM.060 – Implement Production Support Infrastructure
        PM.070 – Verify Production Readiness
        PM.080 – Begin Production
        PM.090 – Measure System Performance
        PM.100 – Maintain System
        PM.110 – Refine Production System
        PM.120 – Decommission Former Systems
        PM.130 – Propose Future Business Direction
        PM.140 – Propose Future Technical Direction

        Aim Documentation Exe Download
        or
        Aim Documentation Docs Download