11/24/23, 4:18 PM Oracle Applications: Oracle General Ledger Interview Question with Answer
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Oracle General Ledger Interview Question with Answer
Question Answer
Multiple reporting currencies are a set of unique feature which permits an organization to
What is MRC?
report in multiple functional currencies.
What are the Responsibility
Data group, Menu group, Request group
setups?
How to prepare FSG? Row set, Column set
It is to identify a group of parent values for reporting or other application Purposes. It is
What is a Roll up Group?
used to create summary accounts for reporting purposes.
Translation is the process which picks up the foreign currency balances and converts them
into functional currency balances (for a particular period,SOB,etc). So basically the
What is Translation? translation process will generate additional records in the gl_balances table. It only
operates at the balances level and not on the transactions/journals level. It picks up the
periods rate defined for that period.(not the daily rates).
Revaluation is a process which is typically run periodically to account for the loss/gain in
the foreign currency. As an ex, if there is a transaction is foreign currency and it could have
What is Revaluation? gained some value due to the economic differences. So revaluation process will take notice
of this and create the new journals which account for the net loss/gain. So these journals
will have to post again. Revaluation process will not update the gl_balances.
What is Cumulative
It is to account the net difference needed to balance the translated COA while doing the
translation Adjustment
translation.
Account?
A recurring journal is a journal entry that should be entered and posted periodically. Each
time the journal should have the same accounts but the amounts could be different. To
What is Recurring journal? create a recurring journal, you define a recurring journal template that you use to generate
Types of Recurring journal? almost automatically the journals periodically. Recurring Journal templates can include
fixed amounts or formulas to find amounts based on balances of pre-determined accounts.
Types:-Regular,Skeleton,Formula-Statistical,Formula-Currency
What is the difference in
structure between R12 and 3C in 11i whereas 4C in R12,SLA,MOAC
11i?
On what basis we create
Ledger and legal entity
operating units?
What is org_id and
Org_Id means OU Id and organisation_Id means Inventory Org ID
organisation_id?
What is BR 100 and which
Its a document for all set up .Before User Manual it has to sign off.
stage we are preparing?
What is Flexfield? A flexfield is a field made up of sub fields or segments.
It builds unique entity identifiers (Data stored in the SEGMENT fields.).Its mandatory
What is KFF (Key
flexfield for arranging code of combination which consists of 38 [Link]-3,AP-3,FA-
Flexfield)?
3,AR-6,HR-7
What is Key flexfield name
Accounting Key Flexfield
in GL?
What is DFF (Descriptive
To store the additional information (Data stored in ATTRIBUTES fields)
Flexfield)?
Go to GL=>Setup=>Financial=>Flexfield=>Descriptive=>Segment then DFF query as
based on application and title.
Ex: Journal entry screen we need to customize some additional info
How to create DFF?
Select title as "Enter Journals: Journals" and click on segment and create for necessary
value set and provide the value details
in GL=>Setup=>Financial=>Flexfield=>Descriptive=>Value
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11/24/23, 4:18 PM Oracle Applications: Oracle General Ledger Interview Question with Answer
Why Allow Dynamic Allow dynamic option is to create new code combination and also modify the code
Inserts? combination can be done otherwise not possible.
Use of Cross Validate
controls the combinations of values you can create when you enter values for key flexfields
Segments?
What is segment? How
A segment is a single sub field within a flexfield.A segment is represented in database as a
many no. of segments in
single table column. Maximum 30 segment,14 Attribute in DFF
Accounting Flexfield?
How many flexfield
structures can you create for In Oracle GL,We can create N no. Of flexfield structures.
GL?
What is value set? It is a set of values
You do not always want a user to enter junk free text into all the fields. Hence, Oracle Apps
Why do we need value sets?
uses value set to validate that correct data is being entered in the fields in screen.
Is value set attached to all
the fields that require No
validations?
Value sets are attached to segments in Flexfields. You can argue that value sets are also
Where lies the usage of
attached to parameters of concurrent program(but in reality oracle treats parameters as
value sets?
Descriptive Flexfields)
How many Different
No security,Hierarchical,Non-Heirarchical
Security Type in value set?
What are the field in
Name,Security type,maximum no,indepedent,list of values,Upper case,Char
Creation of Valueset?
What are the format types Format type:-Character,Date ,Date time,Standard date,standard datetime,Time
and validation types Validation Type:-Dependent,Indepedent,None,Pair,Special,table,Translatable
available in value set? indepedent,Translatable dependent
What is Flexfield qualifiers? A flexfield qualifier identifies a particular segment of a key flexfield.
Types and Purpose of Balancing segment,Natural Account,Cost centre,management,Secondary
Flexfield Qualifier? tracking,Intercompany
What is the use of This would qualify a segment to be the management segment if that segment has
Management Flexfield management responsibility and you can facilitate setting of Read, Write access permissions
Qualifier? while defining Data access set in GL.
What is the use of
This attribute is used to identify the secondary tracking segment to process income
Secondary Tracking
statement closing, translation and revaluation.
Flexfield Qualifier?
A segment qualifier identifies a particular type of value in a single segment of a key
What is Segment qualifiers?
flexfield
For Company and cost center:-Allow posting ,Allow budgeting
What are types of Segment
For Natural Account:-Allow posting ,Allow budgeting,Account Type,Third party Control
Qualifier?
Account,Reconcile
What are types of Account
types in Natural Account Asset,Expense,Liability,Ownership/Stockholder Equity,Revenue
Segment Qualifier?
How do you define parent
In segment value enable the parent value,define the child range and enter the low high
Child relationship for
ranges of child value.
segment values?
What is Security Rule? It restricts the access of different segment values for different responsibilities.
What is CVR(Cross
CVR restricts particular code of combination at COA level.
validation rule)?
What are the period types?
A Unit of time ,such as one week ,two weeks or a month on which your accounting
What are the period types
calender is [Link]:-Month,Year,Quarter,Half Yr,Half month,Week
provided in GL?
What are period status in
Never Opened,Open,Closed,Permanently closed,future
GL?
What is an Accounting It is to specify the no. Of periods in the year for the purpose of transaction and maintaining
calender? accounting data.
How to Creating Calender? Name,Prefix month,type,year,Num,from,To,If adjustment then click on Adjusting
What is transaction This calender determines which days in aweek are business days and specifies other non
calender? business days such as [Link]:-It must be assigned for set of books for which average
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11/24/23, 4:18 PM Oracle Applications: Oracle General Ledger Interview Question with Answer
balanceing is enable to control transaction posting.
What is monetary currency? It is currency which has a monetary value.
A process that converts foreign currency transaction in to functional
What is conversion type?
[Link],reporting,spot,user
It is an indicator by which GL identifies and Differntiates the origin of journal entries
What is journal Source?
which is mandatory to create a new journal.
Journal category specify what kind of transaction the Journal entry [Link] determines
What is journal Category? the nature of journal entry Like purchase,payable,receivable etc which is mandatory to
create a journal.
How to create New Journal
Set up,journal,category
Categories?
How to setup Journal
In ledger tick on enable journal approval,then source enable journal approval
Approval?
How we can post
subledger entries to GL Go to ledger -subledger application then assign post in GL as yes for module wise.
without any concurrent. ?
How to Post all Journals in
Run Program - Automatic Posting,Else go to setup-journal-Autopost
single stroke?
Ledgers sets allow you to group multiple ledgers together to achieve processing
efficiencies. For example, you can open or close periods for multiple ledgers
simultaneously, translation/Revaluation balances for all ledgers in a ledger set, run
What is Ledger Sets? recurring journals that update balances for multiple ledgers, or run consolidated financial
reportsand FSG report that summarize balances across multiple ledgers in a ledger [Link]
ledgers in a ledger set must share the same chart of accounts and accounting
calendar/period type combination.
Data Access Sets enable you to specify read only or read and write access for a legal entity,
What is Data Access Sets?
ledger, Balancing Segment Value or Management segment Value.
How to define Document
Sys admin,Application create and assign as aumatic and manual
Sequence for Journals?
How to find Journals
Journal find screen,click more,dates created from ,to
Entered today?
Reverse a Journal - Options
Yes,At journal screen ,reverse tab else setup-journal-Auto reverse
available?
Can I correct sub ledger
Yes,at journal import ,correct option
entries from GL?
Can I delete sub ledger
Run request Program - Delete Journal Import Data,parameter Source,request ID,Ledger
entries?
3 Key reports in GL? Trial balance,Account Analysis report(180),FSG reports,
GL_BUDGET
GL_BUDGET_types
5 Tables relating to GL? GL_DAILY_RATES
GL_Consolidation
GL_Balances
A single journal entry formula that allocates revenues and expenses across a group of cost
centers ,departments,divisions etc.
What is mass allocation?
Steps:-[Link] value set for parent and child ,[Link] journal STAT
Category,[Link],[Link],[Link]
How many Account type? Asset,Liability,Expense,revenue,Owners Equity
What is security rule and We are restrcting the code combination at responsibility level for security rule and COA
Cross validation rule? level for Cross validation rule.
What is drilldown in GL? We can see the orginal entry through this option at gl
Chart of Account (COA) is one of the building blocks of Ledger. It is an important as well
as a mandatory step to setup a ledger. It is important because the structure of COA
What is COA?
determines the level or depth of financial [Link] Accoutning Structure your
organisation uses to record transaction and maintain account balances.
What are the pre requisite
Segment,Value set,Flexfield qualifier,Values,Segment Qualifier
of COA?
How we will arrive
Business structure and Through segment created in COA.
operating structure?
What is Retain earning
It will carry forward the last year balance to the current year.
account?
What are the accounts Retain Earning Account,Suspense Account,Rounding off difference account,Reserve for
mandatory to define in set encumberance
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11/24/23, 4:18 PM Oracle Applications: Oracle General Ledger Interview Question with Answer
of books?
It is a balancing account which is used to post out of balance Journal entries, GL
automatically posts journal difference against summary accounts. A suspense account is an
account in the general ledger in which amounts are temporarily recorded. The suspense
What is Suspense Account? account is used because the proper account could not be determined at the time that the
transaction was recorded.
When the proper account is determined, the amount will be moved from the suspense
account to the proper account.
With General Ledger you can record pre-expenditures commonly known as encumbrances.
What is Encumbrance The primary purpose of tracking encumbrances is to avoid overspending a budget.
Account?Types? Encumbrances can also be used to predict cash outflow and as a general planning tool.
Predefined Types:-[Link],[Link]
Can Contra entry passed for
suspense and encumbrance No
journal entry?
How can we create
We can create either Automatic or manual.
encumbrance?
What is Budget?Types of It is used to have control over the amount spent against budget.
Budget? Types:-1. Account Wise [Link] entry source and category
What is SLA and how it
AP->SLA->GL
function?
[Link] ledger update subledger accounting in default [Link] methods builder-Event
type .Event Class Mapping Sets ,Account Derivation Rules,Journal Line
What are the pre requisite
Definition,Application Accounting Definition,Subledger Accounting Methods,Assign the
required for SLA?
custom SAM to Primary Ledger Accounting Setup,Create an invoice for supplier type
‘Contractor’ and create accounting
In the case of modification
of entry,What account Modified Entry from SLA
taking from payble to GL?
SLA entry Whether its
Yes if its in draft mode .
modifiable?
If drill down what account
entry will be seen whether
Original Entry
its modified entry or
original entry made at SLA?
What is the pre requisite for
Period,currency,Category,Source
a journal?
What are different types of Reverse journal,Tax journal,Suspense journal,Statistical journal,Recurring Journal,Foreign
journal? currency journal
A general ledger program that creates journal entries from transaction data stored in the
What is journal import? GL_INTERFACE table.
Steps:-GL->Journal->Import->Run
How to Validate a Journal Validation can do through [Link] level Validation,[Link] level validation,[Link]
import?How to track errors entry line level validation,[Link] validation,[Link] date validation,[Link] validation
during import journal? Errors we can track through Batches,Accounts,reference,Journal lines,DFF
GL_BUDGET_INTERFACE
GL_DAILY_RATES_INTERFACE
GL_IEA_INTERFACE
Name few GL interface
GL_IEA_INTERFACE
tables?
GL_INTERFACE
GL_INTERFACE_CONTROL
GL_INTERFACE_HISTORY
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