r12 features
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R12 Features
Release12 introduces a better user experience, resulting in increased productivity and reduced training and support.
Examples of a better user experience include:
1.Reduced pop-ups and duplicate screens
2.Re-designed and streamlined entire work flows
3.Reduced the number of steps to complete key tasks
4.Improved look & feel and visual style
5.Increased personalization capabilities
6.Lower Costs
7.Fewer errors and
8.Stronger Internal Controles
Whats New in Release 12Ledgers and Ledger Sets Legal Entity Configurator Rules-based Accounting Engine Global Tax Engine Global IntercompanySystem Unified Bank Account Model Single Sign-On Across Operating Units
Period closing Process for Payables
Period closing Process for PayablesYou cannot close a period in Payables if any of the following conditions exist:o Outstanding payment batches. Confirm or cancel all incomplete payment batches. o Future dated payments for which the Maturity Date is within the period but that still have a status of Issued. o Unaccounted transactions. Submit the Payables Accounting Process to account for transactions, or submit the Unaccounted Transaction Sweep to move any remaining unaccounted transactions from one period to another. o Accounted transactions that have not been transferred to general ledger. Submit the Payables Transfer to General Ledger process to transfer accounting entries.
To complete the close process in Payables:1. Validate all invoices.Run Invoice Validation Concurrent program.2. Confirm or cancel all incomplete payment batches.
3. If you use future dated payments, submit the Update Matured Future Dated Payment Status Program. This will update the status of matured future dated payments to Negotiable so you can account for them.
4. Resolve all unaccounted transactions.Submit the Payables Accounting Process to account for all unaccounted transactions. Review the Unaccounted Transactions Report. Review any unaccounted transactions and correct data as necessary.
Then resubmit the Payables Accounting Process to account for transactions you corrected. Or move any unresolved accounting transaction exceptions to another period (optional). o Payables Accounting Process.o Submit the Unaccounted Transactions Sweep Program.5. Transfer invoices and payments to the General Ledger and resolve any problems you see on the output report:o Payables Transfer to General Ledger Program.6. In the Control Payables Periods window, close the period in Payables.o Controlling the Status of Payables Periods.7. Reconcile Payables activity for the period. You will need the following reports:o Accounts Payable Trial Balance Report (this period and last period).o Posted Invoice Register.o Posted Payment Register.8. If you use Oracle Purchasing, accrue uninvoiced receipts.
9. If you use Oracle Assets, run the Mass Additions Create Program transfer capital invoice line distributions from Oracle Payables to Oracle Assets.
10. Post journal entries to the general ledger and reconcile the trial balance to the General Ledger.
Accounts Payables Frequently Asked Questions
1. What are the types of invoices?2. What is difference between debit memo and credit memo?3. What is meant by with-holding tax invoice?4. What are the mandatory setups in AP?5. What is the difference between PO default and quick match?6. Use of recurring invoice?7. Steps for payment batch?8. Purpose of Payable invoice open interface?9. Payable open interface import? (Expense Report Import)10. Multi Currency payments?11. Can we implement MRC at Payables?12. Use of Distribution set?13. Accounting Methods?14. Use of automatic offset method?15. What does the Unaccounted Transaction Sweep Report do?16. What reports should I run before closing the period?17. What is the program to transfer data from AP to GL?18. What is meant by void payments?19. What are the types of journal categories available in the AP?20. What is meant by matching and what are the types of matchings available?21. Types of Prepayments? And difference between them?22. What is a Hold and Release 23. How to approve ‘n’ no. of invoices 24. What is Zero-Payment in AP 25. What is Proxima Payment Terms?26. What are the tables associated with Invoice?27. Which interface tables are used for Invoice Import?28. What is 2 way, 3 way and 4 way matching?29. What is Interest Invoice and how it can be created?30. How many key flexfields are there in Payables?31. Can you cancel the invoice? If yes, explain?32. What is pay date basis?33. What is terms date basis?34. What is the report used to identify duplicate suppliers?35. Difference between header level tax calculation and line level tax calculation?36. What is meant by accrual write off?37. Difference between quick payment and manual payment?38. Use of Future dated payments?39. Tell me steps for Period closing Process in AP?40. Payable And Financial options?41. What is meant by third party payments?42. How to transfer funds between your internal banks?43. Invoice Approval Process?44. Can I find out which invoices are matched to a PO?45. What is Intercompany Invoicing?46. ERS Invoice means?47. Use of Pay on receipt auto invoice?48. What is meant by RTS transactions?49. What are the steps to define a Bank?50. Payment Methods?
Difference between multiple databases, multiple instances, and multiple installations?In Oracle database terminology, an instance is the combination of background processes and memory structures that allow the user to access data in an Oracle database. In an applications context, instance and database are often used interchangeably.Multiple installations, or "installs" means that Oracle Applications are installed multiple times on a single database.Multiple databases or instances refer to a scenario in which there may exist numerous databases, each with one or more installations and implementations of the Oracle Applications.
Period status in General Ledger
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.
Recurring Journals
Define recurring journal formulas for transactions that you repeat every accounting period, such as accruals, depreciation charges, and allocations.
You can use recurring journals to create three types of journal entries:
Skeleton Journal Entries: Skeleton journals have varying amounts in each period. You define a recurring journal entry with out amounts, and then enter the appropriate amounts each accounting period.There are no formulas to enter, only account combinations. For example, you can record temporary labor expenses in the same account combination every month with varying amount due to fluctuations in hours..
Standard Recurring Journal Entries: Standard recurring journal entries use the same accounts and amounts each period.For Example: Record monthly lease expenses with constant amounts charged to the same account.
Recurring Journal Formula Entries: Formula entries use formulas to calculate journal amounts that vary from period to period. For example, calculate commotion to sales representative based on the sales of the month.
Purchasing FAQ’s
1. Define Requition?2. What are the types of requitions?3. What is the use of requition template?4. What is the procedure for requition import?5. What is meant by RFQ?6. What are the types of RFQ”S?7. What is meant by quatation and quotation analysis?8. What is meant my PO?9. What are the types of PO?10. What are the types of receipts?11. What is meant by receipt routing?12. What is the purpose of receiving transactions?13. What is meant by receipt routing? Types?14. What is the use of auto creat?15. What is meant by pay on receipt auto invoice?16. What do you mean by controlling buyers workload?17. What is Matching? What are the various methods of matching?18. What is the use of defining security hierarchy?19. What is the difference between accrue at period end and accrue on receipt?20. Why are expenses items typically accrued at period end, and why are inventory items always accrued on receipt?
Types Of Purchase Orders
key flexfield
key flexfield is a field made up of segments, where each segment has both a value and a meaning. You can think of a key flexfield as an “intelligent” field that your business can use to store information represented as “codes.”
Most organizations use ”codes” made up of meaningful segments to identify general ledger accounts, part numbers, and other business entities. Each segment of the code can represent a characteristic of the entity. For example, consider an account number for a bank. A complete bank number may consists of various segments like the country code, area code, city code, branch code, account type, account number etc
Multiple Reporting Currencies
The Multiple Reporting Currencies (MRC) is the set of unique feature embedded in Oracle applications, which allows you to report on and maintain accounting at the transaction level in more than one functional currency. MRC is based on the Multi-Org Architecture, and is a significant aspect of a globalization strategy.
The primary functional currency is the currency you use to record transactions and maintain your accounting data within the Oracle E-Business Suite. In the primary set of books, the functional currency is always the primary functional currency. Usually, the primary functional currency is the currency in which you perform most of your business transactions, and the one you use for legal reporting.
A reporting set of books is a financial reporting entity associated with a primary set of books. While the reporting set of books has the same chart of accounts and accounting calendar as the primary set of books, its use of a different functional currency (reporting functional currency) allows you to report in a different functional currency than that of your primary set of books.
You must define a separate set of books for each of your reporting functional currencies. By using MRC concept we can maintain up to Eight Reporting Set Of Books
Assets Additions
Asset Setup Processes (Additions)
Quick Additions
Use the Quick Additions process to quickly enter ordinary assets when you must enter them manually. You can enter minimal information in the Quick Additions window, and the remaining asset information defaults from the asset category, book, and the date placed in service.
To add an asset quickly accepting default information:
1.Choose Assets > Asset Workbench from the Navigator window.
2.Choose Quick Additions from the Find Assets window.
The following screen appears.
3. Enter a Description of the asset.4. Enter the asset Category.5. Select the Asset Type of the asset. For a description of the assets types, see: Asset Descriptive Details6. Assign your asset to a corporate depreciation Book.7. Enter the current Cost.8. Optionally update the Date Placed In Service.9. Update the depreciation method and prorate convention, if necessary. The depreciation method and prorate convention are defaulted from the category default rules. However, you can update them here.
10. Assign the asset to an Employee Name (optional), a general ledger depreciation Expense Account, and a Location.11. Click on the Done Button.
System displays the following Message.
Journal source and categories
Journal source and categories is used to differentiate journal entries and to enhance your audit trail.
Journal entry source indicates where your journal entries originate
Journal categories help you differentiate entries by purchase or type.Examples for Sources:AssetsPurchasingPayablesManualBudget …...Etc.Examples For Categories:AccrualsAdjustmentReceiptsRevaluationPayments..Etc..
Oracle applications provided required source and categories with default. But you can define with your sauce and categories by using the following navigation:GL:Setup->Journal->SourceSetup->journal-.Categories
With Journal Source you can:
Define inter company and suspense accounts for specific sources.Run auto post program for specific sourceImport journals by sourceFreeze journals imported from sub ledgers to prevent users from making changes.If you have journal approval enabled for your set of books, you can use journal source to enforce management approval of journal before they are posted.
With Journal Categories you can:
Define inter company and suspense accounts for specific category.Use document sequence to sequentially number journals by categories.
Use Of Automatic Offset Method In Payable Options
If you enter an invoice for expenses or asset purchases for more than one balancing segment, you might want to use automatic offset method to keep your payables transaction accounting entries balanced.If we enable balancing as a automatic offset, payable builds the offset GL account by taking the balancing segment value from the invoice distribution and overlaying it on to the appropriate GL account, i.e liability account from the supplier site.If we enable account as automatic offset, it takes the opposite approach with one segment being retained from the default GL account and all other segments being retained from the invoice distribution
Procure To Pay Cycle Process 1. Create a Standard Purchase order.
2. Give Shipments
3. Give Distributions
4. Approve PO
5. See the status of the PO In The header level: It is approved.
6. Go to the ReceivingàReceipts
7. Give the sub inv and stock locator where you want store the goods. And Save.
8. View the request status and refresh If not Completed.
9. Run the Program Pay on receipt auto invoice.(Which Generate Invoice Automatically)
10. View the Status of the program and refresh if not completed.
11. Go to Payables: InvoiceàEntry àInvoiceQuery with the Invoice Num ERS%
12. Validate the Invoice .After Validate Enable the creating Accounting check box.
13.See The Account
14. Enable the check box Pay in full. And Pres ok.
15. Select the Bank and Go to Actions
16. Enable the check box Create Accounting and press ok.
17. See the Account Created.
18. Now see the invoice status validated, accounted and amount paid.
19. Go to Cash Management: Bank Statementsà Manual clearing. àClear TransactionsFind the Bank Account.
20. Enable the Transaction and press Clear Transaction Button.
21. Go to Payables: PaymentàEntryàPaymentQuery with Payment Date
22. Go to actions, enable Create Accounting and press ok.
23. See the Account created.
24. Run: Payables Transfer to General Ledger.
25.View the Request status and refers if not completed.
26.Got to GL:JournalàImportàRun
27.View the request status and refers if not completed.
28. Go to JournalsàEnter .Find with Source as Payables.
29.Now We can Post the journals.
Secondary Tracking Segment
Secondary Tracking Segment is a Flex field qualified added in the 11.5.10 release. The secondary tracking segment is used in the revaluation, translation, and fiscal year-end close processes. The system will automatically maintain unrealized gain/loss, retained earnings, and cumulative translation adjustments by unique pairs of balancing segment and secondary tracking segment values. you can assign Secondary tracking segment flex field qualifier to an segment which haven’t assigned Natural account, balensing Segment and inter company.
Assets Frequently Asked Questions
1. What are the different ways of adding assets in FA? 2. How do we depreciate Assets in Oracle Applications? 3. What is the significance of asset books in FA? Types?4.What is ment by retire asset? How do we retire assets in Oracle applications? 5. What are the various Journal Entries generated through fixed assets6.At what level FA is implemented?7.What is the profile used to secure asset register?8.What are the asset types in FA Module?9.What are the different calendars used in FA Module?10.Is FA Supports Multi _org?11.What is ment by Roll back depreciation?12.What are the mandatory flexfiels used in FA?13.What are the depreciation methods used in FA module?14.What is ment by prorate convention?15.What is the use of allow amortized changes check box?16.What is the difference between Quick addition and detail addition?17.What is ment by projection?18.What is ment by what-if analysis?19.What is ment by leased asset?20.What is ment by depreciation override? Can we override depreciation?21.What is ment by physical inventory reconciliation?22.Tell me something about asset insurance?23.What is ment by asset revaluation?24.In prepare mass additions window what are available Q names?25.what is the difference between initial mass copy and periodic mass copy?26.what is internal retairment?27.What experience do you have in FA Module Implementation?28.What do you know about FA to GL cycle?
