GL FAQS

 GL FAQS

GL:

1. Tell me about your Experiences?
2. What are the Various Interfaces Conversions that you have done?

A) Journal Import, Budget Upload, Daily Rate Conversions.

3. What are various Reports and Forms you have done?

A) Developed FSG Reports in GL.

4. What is Journal Import?

A) 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 etc.

5. What is the use of GL_Interface?

A) 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.

6. What is the significance of status column, accounting column and Reference column?

A) Status Column – Symbolizes the Journal entry in the table as either New/Update.

Accounting Date – Represents the date using which the corresponding period in the General Ledger is identified and accounting is applied.  

Reference Columns – Represents additional/optional information pertaining to the batch/Journal Entrys belonging to sub-ledger modules such as AP & AR.

(REF.COLUMNS 1-10 -> Store Batch and Journal Entry names and description,)

(REF.COLUMNS 21-30-> Store information pertaining to sub-ledger modules. These Col’s are also populated as Ref. Col’s 1-10 in GL_ IMPORT_REFERENCES,GL_JE_LINES.)

7. What is Actual Flag?

      A) Actual flag represents the Journal type. A-Actual, B-Budget, E- Encumbrance.

8. What is Encumbrance?

A) It is a process of Reservation of funds for anticipated expenditure from a budget. Encumbrance integrates GL, Purchasing and Payables modules.

9. What are Budget Journal and Actual Journal?
10. How many Key Flex Fields are there in General Ledger?

A)    One. Accounting Key Flex Field.

11. What is a Value Set?

      A) Value set is a collection of values that could be represented by a segment.

12. How do we create Set of Books?

A)    The creation of Set of books involves four basic steps.

i) Define Functional Currency

ii) Define Calendar

iii) Define the Chart of Accounts

iv) Enter code combination of Retained Earnings account.

13. How many types of Budgets are there?

A)    Two Types. Expenditure Budgets, Revenue Budgets.

14. What are the Base Tables and Interface Tables for Journal Import?

Interface Tables:      GL_INTERFACE, GL_BUDGET_INTERFACE

 Base Tables:          GL_JE_BATCHES, GL_JE_HEADERS, GL_JE_LINES,

                              GL_JE_SOURCES, GL_JE_CATEGORIES,

GL_SETS_OF_BOOKS, GL_DAILY_RATES, GL_BALANCES,

GL_PERIODS, GL_PERIOD_SETS,GL_CODE_COMBINATIONS

15. What is the process of kicking Journal Import from PL/SQL?

A)    Using the procedure FND_SUBMIT.SUBMIT_REQUEST.

16. How do we error out a concurrent program from PL/SQL?

A) Using API_SET=VALUE/STATUS (API is a Package).

17. What are Spot Rate, Corporate Rate, Transaction Calendar and Accounting Calendar?

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.

18. What are Segment Qualifiers?

Segment qualifiers hold extra information about individual segments such as if the account is an Asset, Liability or Expense, if you can post to the account and more.

When we define a segment value in the Segment Values window, we must also assign qualifiers which determine the account type (asset, liability, or expense), whether budgeting is allowed, whether posting is allowed and other information specific to the segment value.

Allow Budgeting, Allow Posting, Account Type, Control Account, Reconciliation Flag.

19. What are Flex Field Qualifiers?

A) They determine the hierarchy of the segments with in a flex field structure. They are of four different types, Balancing Segment Qualifier, Natural Accounting segment Qualifier, Cost Center Segment Qualifier, Inter Company Segment  Qualifier.

20. What is MRC (Multiple Reporting Currency)?                            

Multiple Reporting Currency is a feature used to maintain transactions and account balances in multiple currencies. MRC is implemented at the transaction level where as Currency Translation is implemented in the Account Balances level. MRC in functionality replaces the usage of DUAL Currency and Translation processes in Oracle GL module.

21. What is Security Rule?

Security Rules are defined to control the access of a flexfield segment value (Financial information) at a responsibility level.

22. What are Cross Validation & ADI?

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.

23. What is Translation?

A) Translation is a process used to convert functional currency to other reporting currencies at the account balances level.

24. What is Revaluation?

A) 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.

25. What is FSG (Financial Statement Generator)?

A) 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 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.

26. What is Consolidation?

A) 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.

27. At what level General Ledger data is secured?

A) GL data is secured at Set of Book level. Subledger module data is secured at Responsibility level (i.e., at Operating Unit Level).