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Oracle GL Interview Questions

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Types of Invoice :Standard,CM,DM,Expense,Pre-Payment
Recurring Invoice is a type of invoice which occurs at definite intervals of time. The best example for a recurring invoice is Rent paid to the Owner. 

Some times suppliers would not be sending any invoices.But still the payment have to made to him.ex: rent,lease rentels. In this situvation we have to create invoice every period wise.For that purpose we have to create one recurring invoice template. Template means with one master copy creating the multiple invoices is called template.here we are creating the one invoice master copy is formally known as arecurring invoice or recurring inavoice tempalate. SET UP:
1) we have to create one special calender
2) we have to create one full distribution set
3) we have to enter payment terms in the recurring invoice window
4) enter the template no,first invoice amount,special invoice amounts 

Drilldown from Oracle General Ledger 11i is supported for Oracle Payables, Oracle Receivables, Oracle Assets (except depreciation), Projects, Purchasing, Inventory, and Work in Process (WIP). 

There are 4 types of journal entries.

1. Basic Journal Entry - Used for most of the accounting transactions
2. Reversing JE - Created by reversing the existing journal entry
3. Recurring JE - Defined once and then generated for subsequent accounting period
4. Mass Allocation - Created to allocate the revenues and assets to a group of resources(cost centers, depts, divisions,etc) from a single Journal. 

AR invoice is a document sent to the customer with details like, Bill-to customer code, product code, qty sent, price, currency, credit terms, tax details,etc. Based on this invoice, customer will make payment to the company and the same is applied against the invoice.

AP invoice is the document received from the supplier and contains informations such supplier details, product code, qty, price and tax details. This invoice is entered in the AP module and payment is made to the supplier against this invoice. 

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