Oracle General Ledger (GL) Interview Questions and Answers

 

What are different types of Journal entries?

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.

Posted by:Richards