Oracle's PeopleSoft General Ledger is a comprehensive financial management solution that offers a fully automated close and consolidation solution for legal and management reporting. It provides strong controls to meet financial reporting regulations with flexibility to accommodate different accounting standards and industry business requirements.
PeopleSoft General Ledger is integral to PeopleSoft's financial control and reporting solution and is part of Oracle's PeopleSoft Financial Management family of applications that addresses the most complex business requirements and provide comprehensive business and industry solutions, enabling organizations to increase productivity, accelerate business performance.
The General Ledger is the heart of any organization's financial management system. It is a collection of financial accounts that enables an organization to determine its worth and profitability. This collection of accounts is called the chart of accounts.
The financial transactions of a business are entered in journal entries, which are then recorded in accounts in the General Ledger. Journal entries are made in a double entry system, according to Generally Accepted Accounting Principles (GAAP) & IFRS, where debits equal credits.Features & Benefits of PeopleSoft General Ledger (PSGL):
General Ledger delivers an extensive financial management solution that goes beyond traditional ledger functions.
- Flexible accounting structure: Define how you want to capture and access your financial information based on your unique requirements. Go beyond traditional accounting information to include actuals, budgets, statistics, and forecasts to support the demands of your organization's financial reporting. Global organizations can use multiple generally accepted accounting principles (GAAPs) and international Financial Reporting Standards (IFRS) with the same accounting system.
- Comprehensive journal processing: Collect and control data efficiently. Import high-volume journals from spreadsheets. Create templates for recurring transactions. Record transactions within business units and between multiple independent business units. Accept accounting entries from other PeopleSoft applications. Summarize accounting data from PeopleSoft or third-party systems.
- Hierarchical summarizations: Easily understand your reporting and processing relationships through intuitive, visual hierarchies. When your organization changes, simply update the trees and changes are dynamically reflected throughout the system.
- User Rights: Every user will have a user profile which is unique. The user profile specifies a number of 'user attributes' which signify the tasks/functionality required by a particular person. Based on the user attributes, each user has assigned a set of roles in the system. Therefore, access to the system is based on the set of roles assigned to a particular user.