In this chapter, we will cover:
Financial transactions are entered into ledgers. Oracle uses Subledgers (for example, Payables, Receivables, Assets, and Inventory) and the General Ledger to record the financial transactions. The transactions are entered in the Subledger and then transferred to the General Ledger through the Subledger Accounting engine. The General Ledger is used mainly to produce financial reports for decision-making.
The following diagram summarizes the process for transferring financial transactions from the Subledger to the General Ledger: