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Oracle GL Interview Questions

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Discount refers to the payment terms or on quantity(bulk oreder discount)oredered.In the invoice received from supplier,discounts term is sepcificaly stated.E.G. If paid with in 15 days discount @ 2%,what you need to do is pay 2% less then the original invoice amount,however caution should be taken that the freight amount should not be considered while calculating the discount.Adjusment could be for various reasons.Over priced invoice,short delivery of quantity as per goods received note,poor quality etc.Agreed upon amount will be deducted from the invice, while making the payments. 

GL Accounting cycle can be further elaborated like this...

1.Open Period.

2.Create Functional and foreign journal entries.(including the journal import from legacy systems and subledgers).

3.Reverse journal entries.

4.Post the journals.

5.Review and correct the balances.

6.Revalue foreign currency balances.

7.Translate foreign currency balances.

8.Consolidate set of books.

9.Run accounting reports.

10.Close the accounting periods.
AP cycle
Purchase Order --> Receipt --> AP voucher --> Payment made

AR Cycle
Sales Order --> Shipment --> Invoice --> Payment receipt

GL cycle
Direct GL JE / Transfer subledger data to GL --> Post 

Summary Account is an account whose balance represents the sum of other account balances. You can use summary accounts for faster reporting and inquiry as well as in formulas and allocations.

Rollup group is a collection of parent segment values for a given segment. You use rollup groups to define summary accounts based on parents in the group. You can use letters as well as numbers to name your rollup groups.

All the setups(Form, form function, form function attaching to menu, menu to responsibility) are fine. But even I am getting the error Function is not available to this responsibiltiy, please contact the system administrator.

This error we are getting for all custom developed forms. Same things are working fine in other instances. 

VB.NET is a windows application

Where as C# is a console

vb.net is supported multiple inheritance c# does not supported multiple inheritances 

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