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
- 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.
- Financial Reporting
- GL provides real-time
financial data for generating trial balances, balance sheets, profit and
loss statements, and other statutory reports.
- 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).
- Accounting Periods
- GL manages open and closed
periods to control when transactions can be posted.
- This ensures accounting
integrity and compliance.
- Integration Hub
- GL acts as a central point
where all subledger modules integrate.
- It ensures consistency
across financial data.
- Multi-currency and
Multi-ledger Support
- Fusion GL can handle multiple currencies, legal entities, and ledgers, making it suitable for global organisations.
