Big4Guy

Oracle GL 11i has some new features for configuring journal entry types. Transactions such as accruals, payments, receipts can be clubbed and categorized by using journal entry categories. Oracle General Ledger comes with 35 predefined journal entry categories. One unique feature which Oracle offers is it allows users to define more categories depending on the business requirements. Similarly, depending on the categories defined, new intercompany and suspense accounts can be defined.

Here are few of my personal experiences regarding journal category set-up:

First, I would advise that for every transaction type define a category instead of leaving it blank. This would be helpful later in reporting.

Second, in case it is not possible to assign a transaction to a specific category, define a general category and assign the transaction to any one general category.

Lastly, its better to use pre-defined categories instead of custom defined. But I would suggest in case you require a new category for your business feel free to add a new category.

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