
Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation
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PeopleSoft General Ledger is the central repository of all accounting information created by accounting transactions. All other modules (such as Billing, AR, AP, and so on) send their accounting details to the General Ledger in the form of journals. Journals can be created manually using online pages, imported from non-PeopleSoft systems as flat files, or uploaded using Microsoft Excel spreadsheets. Journal Generator is an important batch process used to create journals from accounting entries from other PeopleSoft modules. Journal Edit and Journal Post are other important components of journal processing.
Once journals are posted, they update the account balances in the LEDGER
table.
At the end of an accounting year, the balances of revenue and expense accounts need to be transferred to the retained earnings account in the balance sheet. This process is known as Closing. Organizations can perform interim closing (optional) apart from the year-end closing. PeopleSoft uses the closing...
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