R12 GENERAL LEDGER OVERVIEW

General Ledger New and Enhanced Features:

1. Ledger Sets
2. Data Access Sets
3. Automatic Journal copy
4. Replacement for Disabled Accounts
5. Prevent Reversal of Unposted Journal 
6. Centralized Accounting Setup

1. Ledger Sets

• In release12, the concept of Set of books has been enhanced and termed as Ledger
• To make working with ledgers more easily the new feature called LEDGER SET has been introduced

Ledger Set Features/Advantages:

• A Ledger Set can contain any number of Ledgers, there is no any specific ceiling proposed so far
• A Ledger Set can only have those Ledger which are sharing the same:

              1.Chart of Accounts
              2.Calendar/Period Type 

• One can run concurrent program or processes for multiple ledgers simultaneously

             1.Opening and Closing Periods
             2.Generating Recurring Journals 

• One can generate reports for multiple ledgers in no time

             1.Financial Statement Generator Reports

• Simultaneous Data Access to Multiple Legal Entities and Ledgers

             1. You can access multiple legal entities and ledgers when you log into 
                 Oracle General   Ledger using a single responsibility.
             2.This improves processing efficiency by reducing the need to switch 
                between responsibilities when trying to access data for different ledgers or 
                legal  entities. 

• AutoPost Criteria can be shared across ledgers that have the same chart of accounts and calendar.
• AutoReversal Criteria can be shared across ledgers.
• This dramatically reduces the number of AutoReversal Criteria sets you need to define.

2. Data Access Set

• Data Access Set is a new feature in R12
• It helps in providing Role Based Access Control to the user These Data Access Sets
• controls the behavior of a Responsibility when the user tries to access the Ledger 

Data Access Sets Features/Advantages:

• It can provide Read only, Read and Write access to an Ledger
• It can restrict the access to Balancing Segment Values 
• Types of Data Access Sets:

             1.Full Ledger 
             2.Balancing Segment Value

3.Automatic Journal Copy

•  You are able to automatically copy an existing journal batch to create a new journal batch with the same journals and journal lines.

Automatic Journal Copy Features/Advantages:

• This reduces the amount of work you need to do to re-create a journal that has already been defined. 
• During the copying process, you have the option to change the period and effective date of the journal batch.

4.Replacement for Disabled Accounts

• When an account is disabled, you can prevent transactions that include the account from erroring during journal import by defining a replacement account for the disabled account.
• Journal import replaces the disabled account with the replacement account and continue the journal import process if the replacement account is valid.

5.Prevent Reversal of Unposted Journal

• Users are no longer allowed to reverse ‘Unposted’ journals.

6.Centralized Accounting Setup 

• If a legal entity has multiple reporting requirements, you can include additional reporting currencies or ledgers in the accounting context to satisfy the additional requirements.