1. Financial reporting and analysis
General Ledger
Oracle general ledger is a comprehensive financial management solution that facilitates the the following tasks:
Financial controls
Data collection
Information access
Financial reporting and analysis

2. Set of Books
A set of books consists of a chart of account structure, an accounting calendar, and a functional currency.

3. Chart of Accounts Structure
Create a customizable accounts structure containing up to 30 segments, with 25 characters per segment. The maximum number of characters allowed in the account code combination is 240
Define account to record asset, liability, owner’s equity, revenue, and expenses transactions.

4. Accounting Calendar
Define the sequence and duration of accounting periods
At the end of each accounting period, balances are automatically rolled forward to the next period. At the end of each fiscal year, the net balance of all revenue and expense accounts are moved to retained earnings.

5. Functional Currency
Choose one functional currency for each set of books
Enter accounting information in any currency. General ledger converts monetary amounts entered in a foreign currency to functional currency equivalents using supplied rates.

6. Journal Entry Basic Journal Entries Reversing Journal Entries
Recurring Journal Entries
Mass Allocations

7. Basic Journal Entries:
It used for most accounting transactions. Examples: Revenues, Expenses, Adjustments, and Reclassifications
Reversing Journal Entries:
These journal entries are created by reversing an existing journal entry. We can reverse any journal entry and post it to the current or any future open accounting period.
Recurring Journal Entries:
Recurring journal entries are defined once, then are repeated for each subsequent accounting period.

8. Mass Allocations Entries:
These type of journal entries that utilize a signal entry formula to allocate revenues and expenses across a group of cost centers, departments, divisions.

9. Journal Wizard Journal wizard enables to: Create journal entries
Customize journal worksheets
Use Excel spreadsheet features
Save journal worksheets
Upload journals to Oracle General Ledger

10. Budgeting
Oracle General Ledger gives us a variety of tools to create, maintain, and track our budgets, including the ability to upload budget amounts from an Excel spreadsheet
Create an unlimited number of budgets
Control user access to budgets
Create budget organizations to mirror the various levels of our company’s user access to the budget information
Structure our budget into an unlimited number of levels
Create master-detail budgets.

11. Creating a Budget
In Oracle general Ledger, we can create a budget by designating amounts to a combination of an account and a period.
Using the Define Budget Organization window, specify accounts by defining a budget organization, then assigning appropriate accounts to the that organization.
Using the Define Budget Organization window, specify the accounting periods that we want to include in our budget.

12. Reporting and Analysis Tools
Oracle General Ledger provides us with variety of powerful reporting, consolidating, and analysis capabilities.
Standard reports and listing
Financial Statement Generator(FSG)
Report Wizard
Request Center
Analysis Wizard
Oracle Financial Analyzer

13. Different Types of Reports
Standard Reports and Listings:
Request report online without trying up our terminal while we wait to generate and print our report
Group reports into report sets
Schedule reports to run at regularly schedule intervals
Financial Statement Generator Report
Create complex financial report for business units, profit centers, and cost centers.
Report on translated and foreign currency amounts.