Oracle Fusion Financials General Ledger

oracle fusion financials general ledger
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Oracle Fusion Financials General Ledger

Here are key aspects of Oracle Fusion Financials General Ledger:

  1. Chart of Accounts: The Chart of Accounts is at the heart of General Ledger. It defines the structure of accounts used for financial transactions and reporting. Organizations can customize their chart of accounts to meet specific accounting needs.

  2. Accounting Periods and Calendars: General Ledger allows organizations to define accounting periods and calendars to manage fiscal years, month-end closings, and reporting cycles. This ensures accurate financial reporting and compliance.

  3. Multi-Currency Support: Fusion General Ledger supports multiple currencies, enabling organizations to record transactions in different currencies and maintain accounting records in a base currency.

  4. Journal Entries: Users can enter and post journal entries to record financial transactions. The system provides flexibility in creating and managing journal entries, including standard, recurring, and reversing entries.

  5. Subledger Integration: General Ledger integrates seamlessly with other Fusion Financials subledger modules such as Accounts Payable, Accounts Receivable, and Fixed Assets. This integration ensures that financial data is consistent across the organization.

  6. Intercompany Transactions: Organizations can manage intercompany transactions and reconciliations efficiently within General Ledger, ensuring accurate consolidation of financial statements.

  7. Financial Reporting: Fusion General Ledger offers powerful financial reporting capabilities. Users can create custom financial reports, trial balances, balance sheets, income statements, and cash flow statements. Interactive dashboards provide real-time insights.

  8. Financial Consolidation: For organizations with multiple legal entities, General Ledger supports financial consolidation to create consolidated financial statements.

  9. Budgeting and Forecasting: The module includes budgeting and forecasting features, allowing organizations to plan and track their financial performance against budgeted figures.

  10. Security and Compliance: Strong security controls and audit trails are in place to maintain data security and compliance with accounting standards and regulations.

  11. Integration and Extensibility: General Ledger can be integrated with other external systems, and it supports extensibility through customization and extensions.

  12. Reporting Currencies: Organizations can define multiple reporting currencies, allowing financial statements to be presented in various currencies to meet international reporting requirements.

Oracle fusion financials training demo video 1:

 
You can find more information about Oracle Fusion Cloud application in this Oracle Docs Link

 

Conclusion:

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