Oracle APPS : General Ledger Faqs
1.Why my cross validation rules not working?
· The
desired combination may be already used.
· The combination
entered manually in account combination.
· If you uncheck
the cross validate segments in key flex field segment form.
· If we uncheck
enable check box at define cross validation rule.
2.List any six-validation reports of calendar.
The following periods have a date gap.
The following periods overlap.
· The
following periods number are greater then the maximum period number for this
period.
· The
following periods number are missing.
· The
following periods number are not in sequential order by date.
· The
following quarters are missing.
· The
following quarters are not in sequential order by period.
· The
following periods start or end rates are more than one year before or after its
fiscal year.
3.Briefly explain the steps for Mass Allocation.
Allocation of account balance to the range of segment values
for specific period.
Steps for mass allocation.
· Define
parent Segment and assign child ranges.
(N): Setup/Financial/Flex fields/Validation
· Enter stat
journals.
· Define
mass allocation Formula. (N): Journal/Define/Allocation
·
Validate the formula.
· Generate
Mass Allocation.
· Post the
entry.
Q4.Difference
between Translation & Revaluation
Translation
|
Revaluation
|
Translation is done from functional
currency to Reporting currency.
|
Revaluation is done to know the
actual balance on specific date with respect the prevailing foreign exchange
rate of a particular account.
|
In translation Period end rate &
Average rates are used.
|
In Revaluation Only Period end rate
is used.
|
Translation is Optional.
|
Revaluation is mandatory.
|
Difference in Translation will be
transferred to “Translation adjustment account”.
|
Difference in Revaluation will be
transferred to “Unrealized Gain/loss account”.
|
Translation should satisfy the conditions,
namely, 1. Prior & following period should be opened; 2. It cannot
perform for the first period
|
No Condition is required for
revaluation.
|
5.How do I
enable Cross Validation?
Check the Cross validate Segments and
Check the Freeze flexfield defination and compile in Key Flexfield segments.
6.Can you
define cross validation rules for a set of books?
No, Cross validation rules are specific
to chart of account.
7.Can you
run revaluation again in a previous period?
Yes, we can run revaluation again in a
previous period. But the revaluation will effect the transaction, which are
entered after the First revaluation.
8. On what
basis auto post criteria set will be created.
On the basis of Priority, Source,
Category, Balance type & Period the auto post criteria set will be created.
9.Briefely
explain the purpose of Revaluation.
Revaluation is done to know the actual
balance on specific date with respect the prevailing foreign exchange rate of a
particular account.
10. Is it
possible to do Translation for more than one segment at a time?
Yes. In translation you having the
option “All” under balancing segment TAB by selecting it we can do the
translation for more than one segment.
11. Can you generate
Recurring journal more than once in one period?
Yes, recurring journal means Journal,
which are repetitive in nature. In a particular period a journal may be
expected for more than once .So we can generate Recurring Journal more than
once in one period.12.What are the steps for
revaluation?
Steps for Revaluation:
· Define the daily rate
using the conversion rate and type.
· Define the period end
rate.
· Define unrealized
gain /loss account
· Perform Revaluation
for the particular account.
13. Can
you allocate part of your cost pool account by using Mass Allocation? If yes,
how will you define formula?
Yes, by entering desired amount in the
amount column of cost pool A/c. or by entering base number in the amount column
of sum of usage factor.
14 What
are the available segment types in mass allocation?
Three segment types are available in
mass allocation.
Constant (C),
Looping (L), Summing (S)
15.Explain
the concept of recurring journals.
Recurring journals means journals,
which are repetitive nature in a year. On the basis of amount recurring
journals are three types.
· Skeleton journal
· Standard journal
· Formula journal
Skeleton journal means journals have
same account but have different posting amounts.
Standard journals means journal entries
use the same accounts and amounts in each period.
Formula journal means journal entries
use formulas to create journal amounts that vary from period to period.
16.Do you think Translation
and Revaluation are mutually exclusive?
Yes, The translation and revaluation
independent with each other, there is
no relation
between translation and Revaluation. We can have both in a single set of
book.
17.Can I use stat journal of
previous period for mass allocation.
Yes, you can use stat journal of
previous period by Using amount type as PTD and period type as previous period
in mass allocation or by using amount type as YTD and period type is current
period you can use the stat journal for the entire year.
18.What is the difference
between full and incremental allocation.
Full
Allocation
|
Incremental
Allocation
|
Full allocation method to generate journals that reverse
previous allocations or to post new allocation amounts.
|
Incremental
allocation method when you want to update allocated balances without
reversing the previous allocation batches.
|
Recommend that you use this method
only if you are allocating amounts for the first time, or only once.
|
Recommend that you do not use the
incremental method the first time you generate a Misallocation entry.
|
19.Is there any difference
between definition of period rates and historical rates?
Period
rate
|
Historical
rate
|
The daily exchange rate on the last
day of an accounting period
|
A weighted-average rate for
transactions that occur at different times
|
In translation period end rate is
used to translate the assets and liability account balances.
|
Historical rates to translate owner's
equity accounts
|
