Multiple Reporting Currencies

 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. 

Introduction to TOAD

 Introduction to TOAD

TOAD is powerful development tool to build an advanced SQL/PLSQL . Using TOAD, developers can build and test PL/SQL packages, procedures, triggers and functions. You can create and edit database tables, views, indexes, constraints and users. Simply, the GUI object browser provide quick access to database object. 

key flexfield

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

Types Of Purchase Orders

 Types Of Purchase Orders

Hai Friends...

From the below picture you can find the diffrence between purchase orders.

Purchasing FAQ’s

 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 qequition import?
5. What is ment by RFQ?
6. What are the types of RFQ”S?
7. What is ment by quatation and quotation analysis?
8. What is ment my PO?
9. What are the types of PO?
10. What are the types of receipts?
11. What is ment by receipt routing?
12. What is the purpose of receiving transactions?
13. What is ment by receipt routing? Types?
14. What is the use of auto creat?
15. What is ment 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? 

Recurring Journals

 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. 

Period status in General Ledger

 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.