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What’s New in R12 Financials?  1] Ledgers and Ledger Sets:  The ledger is a new fundamental concept in Release 12. The ledger replaces the 11i concept of a set of books. It represents an accounting repr esentation for one or more legal entiti es or for a business need such as consolidation or management reporting. 11i & Prior = Sets of Books (3 C’s)   Chart of Accounts  Accounting Calendar  Currency R12 = Ledgers (4 C’s)   Chart of accounts  Ledger currency  Accounting calendar  Accounting method  new 4th While a set of books is defined by 3 Cs, chart of accounts, functional currency, and accounting calendar, the ledger is defined by a 4th C: the accounting method. This 4th C allows you to assign and manage a specific accounting method for each ledger. Therefore, when a legal entity is subject to multiple reporting requirements, separate ledgers can be used to record the accounting information. Primary Ledger:   The main “Activity” Ledger   Usually in the local currency  For Operational reporting

What is new in R12

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8/2/2019 What is new in R12

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Secondary Ledger: 

  Differs from Primary Ledger by Chart of Account, Calendar, and/or Accounting Method

  For Statutory, Tax or Consolidated reporting

Reporting Currency Ledger: 

  Differs from Primary Ledger by Currency ONLY

  Just a translation of the Primary Ledger – no rules required

  For Consolidated reporting

LEDGER SETS: 

  Grouping of ledgers with the same chart of accounts and calendar/period type

combination

  Essentially treats multiple ledgers as one

2] Subledger Accounting: 

You can consider SLA as a bridge or an Intermediate platform that talks to Subledger products(these are other applications or modules) and the General ledger. All Accounting entries for your

modules (like AP, AR, Projects, Inventory, etc) are treated as Sub-Ledgers and they first sent to

the SLA engine. The SLA applies its rules (some or these rules are pre-configured and also you

can configure as many rules as you want) and then sends the necessary journal entries to the

General ledger.

In a nutshell, the following services are provided by Oracle SLA

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