Introduction to Oracle General ledger (GL)

Oracle General Ledger (GL) performs the accounting and budgeting functions in the Oracle Applications suite. It is the central module of Oracle Applications. Oracle General Ledger it owns the set of books that forms the basis for all other financials modules The sub-ledgers of GL are Receivables, Payables, Inventory, and Assets. The set-up information stored in the GL is shared with the various other subledgers.

One of the important things to note is that GL only receives transactional information and does not send any transaction information to other modules. The main transactions in Oracle General Ledger are:

- Accounting (including Multi-Company and Multi-Currency)

- Budgeting

- Encumbrance Accounting

The main setups required to be done in Oracle General Ledger are

- Chart of Accounts (Accounting Flexfield Structure),
- Calendar,
- Currencies,
- Set of Books, Currency Conversion Rates,
- Journal Sources,
- Journal Categories,
- Encumbrance,
- System Controls,
- Profile Options,
- Accounting Periods.

Oracle GL is linked to most of the modules in the Oracle Applications suite. Inventory, Purchasing, Order Entry, Payables, Receivables, Assets, and Cost Management modules share the setup information from GL. Consequently, accounting transactions from these modules are imported into GL. GL depends on the Applications Object Library (AOL) for responsibilities, menus, profile options, and other related setups.