Oracle FLEXCUBE General Ledger (FGL) system is the pillar on which various functional components of Oracle FLEXCUBE rest. Through this single entity you can consolidate and maintain balances and turnovers of all types of accounts your bank holds. In addition, this module helps you retrieve the information on the FGLs maintained for your bank.
FGL is a standalone general ledger system with the ability to define chart of accounts. You may also use this module to keep a complete track of the ledger balances of your organization.
You need to create FGL structure at the bank level and maintain the same at different branches. This structure helps you consolidate the GL balances and turnovers across modules and products. You may further retrieve relevant information on the same online.
This chapter contains the following sections:
Flexible GL structure
Based on various types of accounts that you maintain at your bank, GLs have been classified into the following categories:
A Head GL can be assigned any of the above categories. Two Head GLs can have the same category. All GLs that fall under a Head GL will essentially belong to the category defined for the Head. Each category can have any number of GLs under it, but the category allocated to a GL should be assigned at the head of any GL stream. All nodes and leaves by default take the category of the Head GL to which they report. At no other level, you can assign a category.
Leaf GLs are merely points of contact through which all entries are passed to the nodes. It is at the nodes that consolidation of all accounting takes place. Therefore, any specification like the Currency type or GL type though specified at the leaf GL will be applicable only for the respective node of that leaf. Peripheral activities like linking a customer account to a GL or posting to a GL can be done only at the leaf.
All your profit and loss entries can be passed in LCY only, however, for reporting purposes you can also maintain a record of these in any FCY or even in all currencies. This makes it possible to have multi-currency GLs. Along with this, revaluation of currencies has also been provided.