Hi All,
today we will discuss about another enhanced functionality in Release 12. It is nothing but CREATE ACCOUNTING program, which is related to Sub Ledger Accounting. Briefly, Create Accounting program is used to carry out accounting for transactions that are recorded in the sub ledgers based on the accounting rules that are mentioned in the Sub Ledger Accounting Method.
You may think that we also had this create accounting functionality in Release 11 under
Payables Application. Yes we did had this in Release 11 itself, but it was limited only to Payables module and not to the other modules, now in release 12 this functionality is extended to all sub ledger applications along with some enhanced features.
Now lets see what are those enhanced features that got in to Create Accounting Program.
In Release 11, when you create accounting for transactions, it will be done immediately, you did not have the option of previewing before accounting. This led us to lot of reconciliation worries in month end, since some manual entries get passed in General Ledger.
Unlike previous versions, Release 12 has provided the user with three new functionalities under Create Accounting Program. They are:
1) DRAFT Mode - It is nothing but a draft accounting which will help the user to know what are the Accounts that are getting used for this particular accounting event. You can correct your transaction by looking at the draft entries. Draft entries will also be included in Accounting reports, but it cannot be trasferred to General Ledger since it does not reserve funds and does not update balances. An entry is draft status can be Updated and Deleted.
2) FINAL Mode - It is normal online accounting functionality which we had in earlier release also. It means that entries creating using this mode cannot be changed. After performing this accounting, transaction becomes eligible to get transferred it to General Ledger any time.
3) FINAL POST Mode - It is a very useful new feature, which does the operation of Straight through accounting. When you select this particular feature, it Creates Accounting for the Transaction with the mode Final , it Transfer the accounting entries to General Ledger and it also posts those entries in General Ledger.
With the help of new enhancements in Create Accounting feature, transactions and balances can be up to date and reconciliation is made easy.
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11 comments:
Can u please explain about accounting derivation rule.
Thanks
Satish
Currently i am working on a presentation which talks about Subledger Accounting method (SLAM) .... will be completed by a month or so .... !
once it is done will let you know about it ... !
That will answer all ur queries ... !
i am a beginner on oracle apps r 12 financials module.. where should i start from..help plz..
@ Sonal
Please write to me at karthikeyanp1981@gmail.com with your query in detail....
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