Monday, 22 December 2014

Oracle Financials Online Training

Oracle E-Business Suite consists of various applications.
Manufacturing, Supply Chain Management, Customer Relationship Management, Projects, Human Resources, Financials etc.
Oracle Financials consists of mainly five modules that are Accounts Payables, Accounts Receivables, Fixed Assets,General Ledger and Cash Management. These five modules are stand alone applications cater to the specific requirements and together they called as Oracle financials. Likewise each area such as Manufacturing, Supply Chain Management, Projects, and Human Resources etc consists of various standalone modules and all put together called as Oracle E – Business Suite. In Oracle environment each application are called as modules.
An Organization at the outset has to deal with external entities / parties like Suppliers (Vendors), Customers, Banks.
Accounts Payables module used to manage our Suppliers and what we purchased from them, how much we paid them, whether we paid in time to avail the discount and what is the payment method we are using etc.
Accounts Receivables used to manage our Customers, sales to them, are they paid; follow up to receive the payment from them, what is the credit limit etc.
Oracle Fixed Assets used to manage the Assets of the company, like cost of the assets, location and user of the assets, what is the depreciation expenses for individual assets, life and depreciation methods used, accumulated depreciations etc.
Cash Management module used to reconcile with the bank statement at the end of the month and also tells you the status of the bank accounts and whether it syncs with our books of accounts are not, besides it helps to plan and monitor the cash flow and funds flow.
General Ledger and most important module used to maintain the accounting of the company. We can call it as a central repository of all accounting information of the organization. At the end of the day all business transaction are translated into debits & credits and flowing into General Ledger and accounted. General Ledger module is capable enough to Classify, summaries, allocate to concern accounts in order to report as required by statutory authorities, management and share holders.
Accounting is nothing but quantitative measurement of business events that are taking place. How much purchased, sales made, expenses incurred, profit you have made and how much assets and liabilities you have at point in time or in a period . All the accounting information flows into GL in the form of JE from other modules, imported and posted into respective accounts. All the financial reports are run out of GL module and show the financial position and health of the company.
The strength of E-Business Suite is modules talk each other and information flows from one module to other, besides shared entities like Suppliers, Customers, Banks Accounts, Employees, Items are used by all the modules wherever needed but defined only once, which prevents the redundancy, that is where the strength comes.
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1 comment:

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