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GL Interview Questions & Answers - Learning Mode
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GL Interview Questions & Answers - Learning Mode

Oracle? General Ledger is a comprehensive financial management solution that provides highly automated financial processing, effective management control, and real-time visibility to financial results. It provides everything you need to meet financial compliance and improve your bottom line. Oracle General Ledger provides highly automated financial processing, and tools for effective management control and real-time visibility to financial results.

Try GL Interview Questions & Answers - Exam Mode

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GL Interview Questions & Answers - Learning Mode
Try GL Interview Questions & Answers - Exam Mode
Question: Get the following message on Drilldown - Function not available to this responsibility. Change responsibility or contact your system administrator.



Answer: All the setups(Form, form function, form function attaching to menu, menu to responsibility) are fine. But even I am getting the error Function is not available to this responsibiltiy, please contact the system administrator.

This error we are getting for all custom developed forms. Same things are working fine in other instances.

Source: CoolInterview.com
Question: What are cycles of GL, AP, and AR?



Answer: GL Accounting cycle can be further elaborated like this...

1.Open Period.

2.Create Functional and foreign journal entries.(including the journal import from legacy systems and subledgers).

3.Reverse journal entries.

4.Post the journals.

5.Review and correct the balances.

6.Revalue foreign currency balances.

7.Translate foreign currency balances.

8.Consolidate set of books.

9.Run accounting reports.

10.Close the accounting peri Source: CoolInterview.com
Question: At what stage is the subledger data posted to GL ?



Answer: Basically after entering the transactions, report will be taken to verify the transactions. In case, if approval is needed, it is approved after verifying the transactions. Once you are sure that the transactions are correct, the same can be posted to GL. Once it is posted, most of the informations for the posted transaction can not be modified in the subledger. In case of any wrong entry, you need to follow the reversal procedure.

Practically, the verification of transactions are done o Source: CoolInterview.com
Question: How to import data to General Ledger by Feeder System?



Answer: Can upload Journal Entries using ADI (Application Desktop Integrator) functionality.


ADI is used to interface spreadsheet uploads with Oracle applications data. ADI allows users take advantage of many of the data-entry shortcuts of a spreadsheet, such as copying and pasting cells, dragging and dropping ranges of cells and using formulas to calculate journal line amounts. ADI validates the data entered against the accounts, security rules and reference information that are defined in t Source: CoolInterview.com
Question: What is meant by ADI?



Answer: ADI is used to interface spreadsheet uploads with Oracle applications data. ADI allows users take advantage of many of the data-entry shortcuts of a spreadsheet, such as copying and pasting cells, dragging and dropping ranges of cells and using formulas to calculate journal line amounts. ADI validates the data entered against the accounts, security rules and reference information that are defined in the General Ledger (GL).
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Question: What is the difference between GL date and GL posted date in GL ?



Answer: GL date is the date used to determine the correct accounting period for your transactions where as the GL posting date is the date when the journal entry is posted th GL.

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Question: What is Consolidation in GL?



Answer: When we have multiple setup and combine primary and secondary books getting the financial reports is called consolidation



We will use consolidation reports at the time of period end closing

Source: CoolInterview.com
Question: What is the difference between GL date and GL posted date in GL module ?



Answer: GL Date is date of creation of the entry in subledger

GL posted date is Date of posting of subledger batches in the GL interface

Source: CoolInterview.com
Question: What is FSG and its use ???



Answer: Overview of the Financial Statement Generator

Financial Statement Generator (FSG) is a powerful report building tool

for Oracle General Ledger. With FSG, you can:

? Generate financial reports, such as income statements and balance

sheets, based upon data in your general ledger.

Note: If you have average balance processing enabled in your

set of books, you can report on functional, foreign?entered, or

translated average balances.

? Define se Source: CoolInterview.com
Question: What is planing budget



Answer: The plan for the future expenses is planning budget. It is a paper work. There is no funds rerequirement. It does not require journals. There is no restrictions for estimating of funds. Source: CoolInterview.com
Question: Is there a limit to the number of periods in a budget year or how many years a budget can span?



Answer: One can define budgetary control for n number of years however, one year can have maximum of 60 fiscal periods.

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Question: What is the difference between gl_date,gl_posted



Answer: GL_POSTED_DATE :-Date on which transaction is posted to the GL accountGL_DATE :=GL Date to default to invoices during invocie creationFor more details you can look into the e-TRM of GL. Source: CoolInterview.com
Question: I was able to post a budget journal to a closed period, why?



Answer: Yes you can do so, reason being budget journal is not linked with your accounting period. Once you have open the budget period then you can book budget journal for that whole period. Source: CoolInterview.com
Question: What is the difference between discounts and adjustments?



Answer: Discount refers to the payment terms or on quantity(bulk oreder discount)oredered.In the invoice received from supplier,discounts term is sepcificaly stated.E.G. If paid with in 15 days discount @ 2%,what you need to do is pay 2% less then the original invoice amount,however caution should be taken that the freight amount should not be considered while calculating the discount.Adjusment could be for various reasons.Over priced invoice,short delivery of quantity as per goods received note,poor qu Source: CoolInterview.com
Question: Why cant interest rates be set uniqely supplierwise in payables module.whereas interest rate is applied to all suppliers the same rate.



Answer: Terms and conditions differ with each supplier.

Source: CoolInterview.com
Question: What Subledgers does Oracle General Ledger 11i Drilldown support?



Answer: Drilldown from Oracle General Ledger 11i is supported for Oracle Payables, Oracle Receivables, Oracle Assets (except depreciation), Projects, Purchasing, Inventory, and Work in Process (WIP).

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Question: Why don't my budget amounts appear on FSGs?



Answer: In Coulum we have to mention the no. for control and also in report set we have put the budget defined in control field

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Question: What is Set of Books? What are the four conditions when you change your SOBs



Answer: set of book is a combination of currency,calendar,chart of accounts.

four conditions when u change ur sob is:

1.check ur currency

2.check ur calendar

3.check ur chart of accounts

4.u have to assign ur sob to ur responsibilityh
Source: CoolInterview.com
Question: What is the difference between GL date and GL posted date ?



Answer: GL Posted Date : It is the defaultly current date, but you can change it.

GL Date : Beginning and ending GL dates that will be picked up when interface is executed.
Source: CoolInterview.com
Question: In GL there is no org id. So how can we differentiate the data different operating units when no other modules are given ?



Answer: HR data is at business group level.

GL Data is differentiated based on set of books id.

AP and AR data is mostly at operating unit level.

Inventory, BOM, WIP data is at inventory organizaiton level.
Source: CoolInterview.com

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