GL Interview Questions
What you meant retained earnings? When the entries are created and what is the entry?
What is the difference between cross-validation rules and security-rules?
CVR: Restrict the users of particular combination values
Security rule: To use particular values group of values are must implemented
Cross Validation Rule:- CVR is blocking a particular code combination so that no one can see and use that code combination like:- Company ABC wants that no one from accounts can enter the snacks expe...
An Invoice is a commercial document issued by seller to buyer indicating the products/ services, quantities and agreed pricess. primary attribute of an AR invoice are: 1. Inv Number 2. Inv date 3. Cur...
Accounts Payable invoice is a document that is sent to the buyer from the supplier. It lists item, price, quantity and the total amount along with tax lines. All the items bought by the company are li...
Consolidation means : merging the financial data of all subsidiary ledgers(SOBs) into one Parent SOB. STEPS: 1. Run 'Translation' if the subsidiary SOBs have different currency than parent. 2. Defi...
Consolidation is 'consolidating different books' into the parent company to get a final pictrue of all subsidary and parent companies put to gether. It may be noted that the currency, coa and calender can be different with these sobs
What are the possibilities of having such error
The company has 6 segment in the accounting flexfield01-company values----> 10 -5002-location values----> 02-0503-division values----> 000-07504-cost center values----> 1001-600105-product values----> 00000-9999906-sub ledger values----> 0000-9999now when a journal is been...
The company has 6 segment in the accounting flexfield but account number in question has 10 segments. Also the 3rd segment 03-division values----> has values set to 000-075 the "111" will never appear in LOV without defining it.
Your structure does not have a Natural Account Segment....
That might be the reason your are getting error...
plz chk and post here whether it worked or not
What are cycles of GL, AP, and ar?
The process of accounting to the vendors, customers and accounting in the books of ledger is know as the cycles of AP, AR & GL.
AP CYCLE IS AS FOLLOWSFIRST WE HAVE TO CREATE THE SUPPLIER DETAILS, TAX CODES, PAYMENTS TERMS,ETCAP CYCLE STARTS FROM PO MODULE.ONCE THE PO IS CRATED IN PO MODULEPROCESSING INVOICES BATCHESRELEASING T...
What is the purpose of intercompany in GL? Explain purpose of criteria
It's basically a FlexField qualifier and we generally assign these qualifiers to the Company Segment to perform Inter company transactions
There are two (2) types:(1) Inter Company Journals: These Journals are created for the transactions between the balancing segments of one or more legal entities.(2) Intra Company Journals: These...
What are the pre requisites you have to before going to run the consolidation in GL?
Consolidation means merging the financial data of all subsidary ledgers in one parent ledger (ledger is a replacement for sob in R12 with some additional features). Here is the process for c...
Consolidation is a process of MERGING SET OF BOOKS(SOB).Consolidation can be done in two(2) ways----1. Segment Rules2. Account Rules1.Segment Rules----- Segment Rules are used when the Chart of Accoun...
Troubleshooting in support project
Give some examples of troubleshooting in support project with regard to AP,gl,fa modules.
When bill is matched against a purchase order accrual account is appearing instead of account mentioned in purchase order. In Purchase order in more tab of the shipement window match approv...
If you enable intercompany balancing and post an out of balance journal Oracle will create the necessary journal entries to balance. So you can load an out of balance journal but Oracle wil...
Sorry to say that as u have said urself - its a little difficult to understand ur questionIntercompany transactions are mainly to make payments on behalf of other companies (sister concerns / subsidia...
Some background, assume Org id = Operational Unit A GL set of Books may consist of entries from many different Org Id's. Within the AR & AP (the sub-ledgers) the org id and set of b...
Hi,As per the standard oracle functionality only one operating unit is assigned to GL responsibility. You need to create different GL responsibilities for different operationg UNits If there are multi...
why don't my detail budgets roll up to my master budget?
Master or detail budgets are used to control authority and identify budget that exceeds control limits. they are not intended for reporting purposes.
What details does "reporting of financial data in a project" contain? Mention the use of this.
How do you do the analysis of discounts lost and fixing the root cause in AP module.
For what kind of necessary information we interact with vendors with regard to AP in manufacturing co.,
What kind of necessary AP information will you gather from the client who is involved in manufacturing.
Bridge gap in functional understanding
How do you bridge the gaps in functional understanding of AP,gl,fa?
Define the activities of the configuration manager (setup) with regard to AP,gl,fa modules. Give some examples
What is budget and encumbrance ?
Simply a budget is a kind of Reserve kept for future purpose expenses for KNOWN expense overheads. Ex: Stationary, Machinery, Computers, Bonuses..etc. etc.. Whereas Encumbrance&...
A budget is a forecast (estimate) of cost, expenditure or /and revenue for a specified period of time. it may include one or mare accounting years. It is used to major the achievement of the company...
What are the setup steps for testing?
What you want to test.Steps:1) Get the Solution Design (SD) from the Other.2) Read the Solution Design and Prepare the Test Cases in Spread Sheat a) Actual Test Case ...
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Retained earnings derived in Oracle terms as Sum of all Revenue Account Balances - Sum of all Expense Account balances for the accounting year.They are calculated when you close the last period ...
Retained earnings derived in Oracle terms as Sum of all Revenue Account Balances - Sum of all Expense Account balances for the accounting year.They are calculated when you close the last period ...