Legal Entities:
An organization that represents a legal company for which you prepare fiscal or tax reports. You assign tax identifiers and other relevant information to this entity.
Operating Units:
An organization that partitions data for subledger products (AP, AR, PA, PO, OE). It is roughly equivalent to a single pre-Multi-Org installation.
Ledgers :
The accounting system which tracks the journal entries that affect each account.
Reporting Currencies:
The currency you use for financial reporting. If your reporting currency is not the same as your functional currency, you can use foreign currency translation to restate your account balances in your reporting currency.
Subledger Accounting:
A subledger is a ledger containing all of a detailed sub-set of transactions. The total of the transactions in the subledger roll up into the general ledger. For example, a subledger may contain all accounts receivable, or accounts payable, or fixed asset transactions
Intercompany Balancing:
Intercompany Balances means the intercompany accounts receivable and accounts payable between any member of the ABC Group, on the one hand, and any member of the XYZ Group, on the other hand.
Intercompany account:
A general ledger account which you define in an Accounting Flexfield to balance intercompany transactions. You can define multiple intercompany accounts for use with different types of accounts payable journal entries.
Intercompany journal entry:
A journal entry that records transactions between affiliates. Oracle General Ledger keeps your accounting records in balance for each company by automatically creating offsetting entries to an intercompany account you define.
Sequencing (Accounting and Report Sequencing):
When the journal entries recorded manually we usually assign unique sequence number for each entry and transfer the entries to GL.
Sequence numbering the JE simplifies this cumbersome task of tracing the journal entires.
An organization that represents a legal company for which you prepare fiscal or tax reports. You assign tax identifiers and other relevant information to this entity.
Operating Units:
An organization that partitions data for subledger products (AP, AR, PA, PO, OE). It is roughly equivalent to a single pre-Multi-Org installation.
Ledgers :
The accounting system which tracks the journal entries that affect each account.
Reporting Currencies:
The currency you use for financial reporting. If your reporting currency is not the same as your functional currency, you can use foreign currency translation to restate your account balances in your reporting currency.
Subledger Accounting:
A subledger is a ledger containing all of a detailed sub-set of transactions. The total of the transactions in the subledger roll up into the general ledger. For example, a subledger may contain all accounts receivable, or accounts payable, or fixed asset transactions
Intercompany Balancing:
Intercompany Balances means the intercompany accounts receivable and accounts payable between any member of the ABC Group, on the one hand, and any member of the XYZ Group, on the other hand.
Intercompany account:
A general ledger account which you define in an Accounting Flexfield to balance intercompany transactions. You can define multiple intercompany accounts for use with different types of accounts payable journal entries.
Intercompany journal entry:
A journal entry that records transactions between affiliates. Oracle General Ledger keeps your accounting records in balance for each company by automatically creating offsetting entries to an intercompany account you define.
Sequencing (Accounting and Report Sequencing):
When the journal entries recorded manually we usually assign unique sequence number for each entry and transfer the entries to GL.
Sequence numbering the JE simplifies this cumbersome task of tracing the journal entires.
