Ledger Sets in GL and its importance.

Ledger Set: Ledger Set is a collection of ledgers which are going to share the same Chart of Accounts and Calendar. The ledger set is used to access the data of multiple ledgers from a single responsibility. ( Say Ledger define in US and Ledger in IND). Why we create a Ledger Set? By creating … Continue reading

Understanding on Flex Fields (Focus on GL) in Apps

Flex fields are the flexible fields used to capture the business information of the organization. Flex fields are of two types. Key Flex Fields (KFF) Descriptive Flex Fields (DFF) Key Flex Fields are used to capture mandatory or key business information of the organization. Descriptive Flex Fields are used to capture additional or extra business … Continue reading

Some basic light on Intercompany and Intracompany in R12 GL

Intercompany and Intracompany in GL: In R12 we have modified concepts to track the accounts for Intercompany and Intracompany Accounts. Note: When compare to 11i the Intercompany is now Intracompany in R12 and there is a new concept introduced for Intercompany in R12. Intercompany transactions are the Transactions between the balancing segments across legal entities. … Continue reading

O2C Cycle – (Order To Cash Cycle)

About O2C: O2C stands for Order To Cash which starts from the order management where we receive/Import the Purchase Order from the customers. The purchase order contains the information about the requirements details of the products, based on which we would be creating a Sales Order. Below are the Pre-requisites for raising a Sales order: … Continue reading