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Oracle E-Business Suite 12 Financials Cookbook by Yemi Onigbode

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Chapter 8. Defining Transactions for the General Ledger

In this chapter, we will cover:

  • Defining the chart of accounts
  • Setting up the ledger
  • Defining subledger accounting
  • Defining E-Business Tax accounting

Introduction

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:

  1. The transactions ...

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