Designing Your Accounting Flexfield
Use Accounting Flexfields to design the structure of your General Ledger accounts. By providing flexible account structures, Accounting Flexfields enable you to take advantage of General Ledger flexible tools for recording and reporting accounting information. You can design an account structure that best meets the needs of your organization.
Accounting Flexfields let you:
- Define a flexible account structure that accommodates your current organization, and anticipates the way you will run your organization in the future.
- Define an account structure large enough to reflect the important aspects of your organization, but small enough so that it is manageable and meaningful.
- Define an account structure that accommodates and properly classifies information from your other financial information sources.
- Create an account structure that provides a logical ordering of values by grouping related accounts in the same range of values. Additionally, create an account structure that allows for expansion and development of new categories.
Define the Accounting Flexfield to create accounts that fit the specific needs of your organization. You choose the number of segments, the length of each segment, and the name and order of each segment in your account code structure.
Flexible Organizational Structures
General Ledger let you quickly reorganize your company or agency. Not only can you change reporting structures, but you can also maintain the old structure for comparative purposes.
For example, if your company reassigns a product to a different division, you can easily produce reports for the division.
For example, if your company reassigns a product to a different division, you can easily produce reports for the division. If your agency reassigns a fund to a different fund group, you can easily produce reports on the revised fund group.
You can review your summary accounting information from multiple perspectives.
For example, you may want a summary account that shows the total of all product sales for each division. You can also summarize the same set of detail accounts in a different way and see instead, the total sales of personal computer products across all divisions.
For example, you may want a summary account that shows the total of all product sales for each division. You may also want to summarize the same set of detail accounts in a different way and see instead, the total sales of personal computer products across all divisions. If you are a governmental or not-for-profit organization, you may want to see all revenues and expenses within a fund, or you might want to see all revenues and expenses by grant, regardless of fund.
Financial Statement Generator
You can build your custom reports without programming by using your Oracle General Ledger application Financial Statement Generator. You can define reports online with complete control over the rows, columns and contents of your report.
Throughout General Ledger, you can use ranges to quickly specify a group of accounts. With a well-planned account structure, you can use ranges to group accounts in reports, to specify validation rules and to define summary accounts and reporting hierarchies.
Determining Your Account Needs
Designing Your Account Segments
Defining Your Account Structure
Defining Accounting Flexfield Segment Qualifiers
Key Flexfields in Oracle Applications