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GL Interview Questions & Answers - Learning Mode

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.

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:
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:
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).
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:
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:
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:
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).

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:
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

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.

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.

Question: Expain ADI and it's features

Answer: Broadly following are the feature / elements of ADI

1.Journal Wizard.

2.Budget Wizard.

3.Report Wizard.

4.Account Hierarchy Editor.

5.Analysis Wizard.

6.Request Center.

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.
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

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:
Question: What are the journal entries in Procure to Pay Cycle?

Answer: when we receive the material after approve of purchase order 1 . when the Material Received at the Gate Receiving A/C Dr Material AP accrual A/C Cr2. When the Material delivered to The Inv Org Material A/c Dr Purchase Price Variance A/c Dr Receiving A/c Cr3. When the Invoice Is enterd into the Payable with Matching Of PO Material Ap Accrual A/c Dr Invoice Price Variance A/c Dr AP Liability A/c Cr Source:
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
Question: What are Summary Accounts and Rollup groups?

Answer: Summary Account is an account whose balance represents the sum of other account balances. You can use summary accounts for faster reporting and inquiry as well as in formulas and allocations.

Rollup group is a collection of parent segment values for a given segment. You use rollup groups to define summary accounts based on parents in the group. You can use letters as well as numbers to name your rollup groups.
Question: Can I update/adjust an existing account range in my budget organization?

Answer: Yes you can update an existing account range in Budget Organization. Source:

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