1. OGL Module Sits at Ledger Level
2. OGL Module acts as a Centralized Repository system for the entire Accounting and Financial Information. OGL Module collects all the Accounting Information from various other Modules and maintain those accounting entries In Journal Format
3. Enter the Transactions directly into the GL Module, if those transaction not fitting in Other Modules enter as a Manual Journal in OGL
4. OGL will accept data only in the Journal Format
5. OGL will receive data from other modules and GL will not send any data to sub ledgers
6. GL is a Module used for your Financials Reporting activities
7. GL Modules has a flexibility of the Drill Down options, to review the sub ledger transactions in the GL Module itself, without changing any responsibility
8. In Build Standard Reports such as Trial Balance, Account Analysis Reports, Journal Reports, Useful MIS Reports
9. Flexibility of creation of Financials Reports, MIS Reports through FSG Tool
10. Multiple Ledger Architecture – Consolidate the data from Multiple Ledgers
11. Configuration of the Budget to control your expenditure limits
12. Multi Currency Reports and Multi Currency Ledgers
13. Automate the GL Process such as Auto Posting, Auto Reversal, Scheduling the Programs and Reports
14. Secure Account Codes to ensure correct code combinations
15. Flexibility of Multiple Segments in your Chart of Accounts
Oracle General Ledger Life Cycle
1. Open Period
2. Enter / Import Journals
3. Post a Journal
4. Inquiry Accounts
5. Reversal of Journal (Optional)
6. Revaluation
7. Translation
8. Consolidation
9. Run Reports
10.Close Period
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