Oracle Cloud ERP flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Primary Ledger

The main accounting representation for a legal entity, containing one chart of accounts, one accounting calendar, and one currency; it records all subledger activity and is required for every configuration.

Subledger Accounting (SLA)

The rules engine that transforms subledger transactions, such as invoices or receipts, into balanced journal entries using journal line rules before transferring them to the general ledger.

Create Accounting Process

A subledger process that generates journal entries from eligible transactions. It can run in draft, final, or final post mode and must complete before Transfer to GL.

Transfer to GL

The step that moves finalized subledger journal entries into the general ledger interface, where they are imported, reviewed, and posted to update account balances.

Chart of Accounts Structure

A key flexfield made of segments, each tied to a value set. Segment combinations define valid account codes used across all subledgers and the general ledger.

Value Set Validation Types

Independent, dependent, table, and subset. Each controls how segment values are validated; table validation draws values from an application table, while dependent validation links segments hierarchically.

Accounting Calendar

Defines the fiscal periods for a ledger, including period names, start and end dates, and the number of periods per year. It cannot be changed after transactions are recorded.

Period Close Statuses

Never Opened, Open, Closed, and Permanently Closed. Journals post only to open periods; closing a period prevents further entry but allows reopening except when permanently closed.

Three-Way Match

A control comparing purchase order, receipt, and invoice quantities and prices. Differences outside configured tolerances create holds that block payment until resolved.

Invoice Match Tolerances

Configured limits for quantity, price, and amount differences between PO, receipt, and invoice. Exceeding a tolerance places the invoice on hold pending approval or correction.

Procure-to-Pay Flow

The end-to-end sequence: requisition, purchase order, receipt, supplier invoice, payment, and accounting. Each stage generates transactions that flow through subledger accounting to the GL.

Order-to-Cash Flow

The cycle from sales order through fulfillment and shipment, customer invoice, receipt application, and accounting. It links Order Management, Receivables, and Cash Management processes.

Business Unit

An organizational unit that performs a business function such as procurement or billing. It is associated with a default legal entity and controls access to transactions and reference data.

Legal Entity

A registered organization that owns transactions and reports to tax and regulatory authorities. It is assigned to a ledger and used for statutory and intercompany accounting.

Secondary Ledger

An additional accounting representation using a different chart of accounts, calendar, or currency. It can receive entries through conversion, journal, or subledger level balancing rules.

Reporting Currency Ledger

A ledger that translates balances from the primary ledger into another currency for reporting. It uses a currency conversion rule and does not require separate subledger accounting.

Journal Reversal Methods

Options controlling how reversing entries are created: switch debit and credit, change sign, or no reversal. Reversal period and method are set on the journal or category.

Recurring Journals

Templates that generate journal entries on a defined schedule, such as monthly allocations. They specify a formula, start and end dates, and the number of periods to run.

Allocation Rules

Rules that distribute costs or revenues across cost centers using a basis such as headcount or revenue. They can be defined in GL or in EPM Profitability and Cost Management.

Intercompany Accounting

Balances and reconciles transactions between legal entities within the same enterprise. It uses intercompany balancing rules to generate due-to and due-from entries automatically.

Approval Workflow (BPM Worklist)

The task notification and approval interface. Rules route transactions to approvers based on supervisory hierarchy, job level, or approval groups, serially or in parallel.

Payment Process Request

A Payables job that selects invoices, builds payments, and formats payment files. It runs through validation, formatting, and printing stages before payment confirmation.

Supplier Invoice Holds

System or manual restrictions that prevent an invoice from being paid. Common holds include match exceptions, missing PO, and amount tolerance breaches; releasing requires approval.

Receipt Application

The process of matching a customer payment to open invoices in Receivables. Unapplied amounts remain on account; unapplied and unidentified receipts can be reallocated later.

AutoInvoice

A Receivables process that imports transaction data from external sources or other applications, validates it against AutoInvoice line and grouping rules, and creates invoices.

Assets Depreciation Methods

Rules that determine periodic depreciation, including straight-line, declining balance, and units of production. Method, life, and convention are set on the asset book.

Asset Additions and Adjustments

Additions create new asset records from AP invoices or manual entry; adjustments change cost, life, or method. Both generate depreciation and accounting entries.

Cash Management Reconciliation

The process of matching bank statement lines to system transactions and creating accounting entries for bank charges, interest, and unreconciled items using reconciliation rules.

Budgetary Control

A control that validates transactions against available budget balances. It can be enabled at the ledger or business unit level and produces exceptions when funds are insufficient.

ESS Job Scheduling

Enterprise Scheduler Service runs batch processes such as Create Accounting and Transfer to GL. Jobs can be scheduled, chained, and monitored for completion and errors.

Flexfield Deployment

The step that compiles and activates a key flexfield structure so it can be used in transactions. Changes require redeployment and may affect existing account combinations.

Currency Rate Types

Spot, Corporate, and User rates define conversion values between currencies. The rate type selected on a transaction determines which daily rate the system applies.