Oracle R12 Gl Api Guide
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All types of accounts we learnt in the last chapter viz. Personal, real, and nominal are summarized in Ledger. Chilton automotive repair manuals ford probe gt.
Ledger is a book which contains a classified and permanent record of all the transactions of a business. Ledgers are bound book or loose leaf with each account starting on new page, and each page numbered. Loose-leaf ledger allows addition of pages, removal of completed accounts, and rearrangement of accounts. Ledger is principal book containing all the accounts also called “Book of Final Entry” or “Book of secondary entry” because transactions are recorded here finally. Ledger offers following benefits. Ledger gives snapshot of an account, all at one place.
For example all cash transactions at one place. Trial balance can be prepared to check arithmetical accuracy of the accounts in ledger.
It facilitates preparation of final accounts for ascertaining operating result and financial position of the firm. Ledger Book Dr Cr Date Particulars J.F Amount Date Particulars J.F Amount Year Month Date To (Name of Credit Account in Journal) Year Month Date By (Name of Debit account in Journal) As shown above each ledger account is divided into two parts: left hand side is known as debit side and right hand side credit side. Debit and credit is abbreviated as ‘Dr.’ and ‘Cr.’ Account name is mentioned in the middle and at the top of the account. ‘To’ is used on the debit side in the particulars column. Similarly, the word ‘By’ is used on the credit side. The name of the account affected is written in debit or credit side in particulars column.
Journal page number is entered in J.F column. For amount a separate column is also provided.
Posting of Transactions Posting is the process of transferring entries from journal to the respective accounts in the ledger. All transactions relating to a particular account are grouped in ledger.
It is necessary to know the net effect of various transactions during a given period on particular account. Now we shall see the procedure of posting entries from journal to ledger. Let us assume a scenario of posting for an account which has been debited in the journal entry. First locate account to be debited. Enter date of the transaction in date column.
Record the name of the account credited in the Journal in the particulars column on the debit side as “To. (Name of the account credited)”. Record the page number of the Journal in the J.F column on the debit side and in the Journal, write the page number of the ledger on which a particular account appears in the L.F. Enter the relevant amount in the amount column on the debit side.For scenario of posting for an account which has been credited in the journal entry, procedure is same, except at step 1 and 2. These steps would be as follows.
First locate account to be credited. Enter date of the transaction in date column. Record the name of the account debited in the Journal in the particulars column on the credit side as “By. (Name of the account debited)”. For example If you have started business with cash Rs. 5000 on 1st June 2009. The above transaction will appear in Journal and Ledger as under.
Date Particulars L.F Debit Rs Credit Rs Jun 1, Cash A/c Dr. 10 5000 - 2009 To Capital A/c 23 - 5000 (Business started) Here two accounts are involved, Cash Account and your capital account, so ledger shall have page for each account. Cash Account Cr Date Particulars J.F Amount Date Particulars J.F Amount June 1, 2009 Cash A/c 5000 Posting of Opening Entries We learnt about opening entries which are passed at the beginning of new financial year which is nothing but the debit or credit balance of an account at the end of accounting period. Let us see the procedure.
Gl Interface Oracle R12
An account with debit balance is recorded with words “TO BALANCE B/D” on debit side and with credit balance “BY BALANCE B/D” on credit side. We can not say this process as “posting” but merely incorporating in the ledger.
Oracle R12 Gl Api Guide Guide
Let us take one example of posting the opening entry into the ledger of PHPL as on 1st April 2010, cash in hand Rs. 10,000; Loan Rs.