Fusion General Ledger Introduction

1. What is GL in Oracle Fusion Cloud Finance?

GL = General Ledger

The General Ledger (GL) is the central accounting hub of Oracle Fusion Cloud Financials. It is where all financial transactions from different modules (such as Payables, Receivables, Assets, and Cash Management) are recorded, summarised, and reported.

Key Functions of GL

1. Record Transactions
• All journal entries from sub-ledgers (AP, AR, FA, etc.) flow into the GL.
• You can also create manual journals directly in GL.
2. Financial Reporting
• GL provides real-time financial data for generating trial balances, balance sheets, profit and loss statements, and other statutory reports.
3. Chart of Accounts (CoA)
• GL uses a structured Chart of Accounts to classify and record transactions by segment (for example: Company, Cost Centre, Account, Department).
4. Accounting Periods
• GL manages open and closed periods to control when transactions can be posted.
• This ensures accounting integrity and compliance.
5. Integration Hub
• GL acts as a central point where all subledger modules integrate.
• It ensures consistency across financial data.
6. Multi-currency and Multi-ledger Support
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• Fusion GL can handle multiple currencies, legal entities, and ledgers, making it suitable for global organisations.