Answer / aravindreddy

General Ledger automatically posts the net balance of all
income and expense
accounts from the prior year to the retained earnings
account when you open
the first period of the fiscal year. GL will automatically
update the
retained earnings as needed, when you post journal entries
to the prior
year.

Answer / rajiv gupta

When we close last Finacial period (Soft/Hard close),system
automatically transfer the difference of Income and expense
accounts to the retained earning account which is
considered as the asset for the next financial period which
in turn get distributed to different account in next period.
This Retained earning account is mentioned at the time of
creating a Set of Book(SOB).This Retained earning account
is also called as Profit and Loss account(P&L).
At the time of closing financial period other account types
like asset and liabilities are carried forward to next
financial period.
Cash in Hand is an asset account.

Answer / neehar ranjan sahoo

Retained earning is one of the most mandatory account
without which the setup book cannot be setup and its other
wise called as Fund balance.

And the transfer of the retained earning amount is very
automated process no manual intervention is required.

After netting off of each and every months profit against
lossess the ultimate profit gets transfered to the next
year.and it gets accumulated in the Adj-period of that year.
i mean if one start calculating the profit and lossess of
each and every months in a year then would b definitely
getting the same ultimate figure lying in the ADj year's
profit and lossess account.And that's the amount which gets
transfered automatically to the next year under the head
Retained earning account.

So the path is : through Adjusted year's Trial balance
one can reach at the adjusted profit and loss figure lying
in that Adjusted period.Which is the ultimate figure of
Retained earning and that figure gets automatically gets
transfered to the next year retained earning accounts.

Is the multiple SOB architecture (MSOBA)supported in 11i ?

1 Answers   Accenture,

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some tabs in payable option and financial option?

1 Answers   Deloitte,

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How to Reconciliation AP to CM ? How to Reconciliation AR to CM ?

0 Answers   TCS,

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I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thank you in advance for your help.

3 Answers   Oracle,

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Period closing process Ap and GL?

1 Answers   Deloitte,

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Can you translate the balances of SOB in GBP currencies into multiple currencies or only in one different currency?

1 Answers  

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Can you hold partial payments? And how can that be achieved?

1 Answers  

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whichever documents prepaired by the FUNCTIONAL CONSULTANT while implementing project by using AIM.

8 Answers   Accenture, TCS,

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what is general ledger in oracle laguege and what are the step for define the journal entry?

3 Answers   Tecumseh,

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You created a set of book , where you will attach this SOB in AP?

11 Answers   HCL, IBM, TCS,

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can you explain about RD-20,MD-50,TE-40,BR-40 under aim methodoloty what it consists, how do you prepare them

2 Answers   Tech Mahindra,

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What is 2 way, 3 way and 4 way matching?

12 Answers   CSS Corp, Zensar,

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