In R12, each subledger can have its own calendar, chart of accounts, and currency. There are accounting functions and reports across subledgers that are much easier to deal with than what was available with sets of books. R12 has centralized accounting rules and bidirectional drill down to and from GL from the different modules. The whole structure has changed – you now can define event types, event classes, and account derivation rules that will create the transaction lines.
R12’s subledger accounting gives you:
- The flexibility to utilize user-defined accounting rules to administer multiple accounting policies for internal control and compliance.
- A common data model and repository that allows for a single source of truth for subsystem accounting.
- A centralized data model for accurate and streamlined accounting, reconciliation, and reporting.
- A common posting engine for a simpler closing process.
- Full-drilldown to clear, auditable entries.
R12’s accommodation of multiple ledgers in a single set of books enables smart decision-making by continuously and quickly providing key financial information crucial to important business decisions. The structure of the new sub-ledger accounting also allows for smoother processing and GL management as well as secure but widely accessible data. For example, a single subledger transaction can create multiple accounting representations in multiple currencies in the same set of books.
For a full list of documentation resources for Oracle Applications Release 12, see Oracle Applications Documentation Resources, Release 12, OracleMetaLink Document 394692.1.
Click here for a list of Oracle documentation.