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GL : Oracle General ledger is a module which stores the balances and details
journals of all natural accounts.
-> It is mainly used for the Financials Reporting like Financial Statements (
BS , IS and CF )
-> All the summarised balances are stored in the two places ( gl_balances
table with multi currency and multi calender plus multi dimensional essbase cube)
-> finacnails statement will be generated based on the multi dimensional
essbase cube.
types of Natural Accounts : there are five (5) types of Natural Account.
-->1) Asset
-->2) Liability
-->3) Equity
-->4) Revenue
-->5) Expense
In Accouting world by default each type represnets them selves as debit
or credit balance.
--> Asset types of Account always debit balance ( means by debit their
balances are increasing and by credit their balanaces are decreasing)
--> Liability types of Account always credit balances ( means by credit
their balances are increasing and by debit their balances are decreasing)
--> Equity types of Account always credit balances ( means by credit
their balances are increasing and by debit their balances are decreasing)
--> Revenue types of Account always credit balances ( means by credit
their balances are increasing and by debit their balances are decreasing)
--> expense types of Account always debit balances ( means by debit
their balances are increasing and by credit their balances are decreasing)