Oracle consolidating different calendars

For example, let’s say our fictitious company determined that $120,000 in revenue needed to be deferred (revenue recognition deferral) because installation had not been completed (an open service ticket).With the adjustments only secondary ledger, if this was the only adjustment, the ledger would look like this: The end result is that the non-automated journal entries are segregated into a separate adjustments-only secondary ledger, ideally with the accountants’ (who do manual type entries) user permissions prevented from making entries into the primary ledger.In this way, it is possible to create the single standardized calendar that ledger sets require.Finally, eprentise Consolidation software enables companies to merge two or more instances of Oracle E-Business Suite (EBS) into a single, consolidated database enabling the use of ledger sets across all portions of the company.Going to a single chart of accounts, common calendar, or single global instance can be effectively accomplished with eprentise software and can allow you to maximize the benefits of standard business processes and common definitions across the enterprise.If regulatory, reporting, or management requirements dictate the need for a different accounting representation (chart of accounts) or a different calendar, the secondary ledger functionality of R12 allows you to transparently present financial reporting and management information in different bases. He is a Florida Certified Public Accountant (CPA) and holds a Master’s degree in accounting from Stetson University and a Bachelor’s degree in accounting from Florida Atlantic University.Brian began his career at Ernst & Young, a big four accounting and professional services firm, where he worked in the Accounting and Assurance Business Services group.

Crucial to the effective use of ledger sets and secondary ledgers is having a well-designed and rationalized common chart of accounts in your primary ledgers.

Further, ledger sets will not work across multiple instances.

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