Deposit Account

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27 Deposit Account Questions And Answers

3⟩ Explain MRC and what is its use?

Multiple Reporting Currencies is a unique set of features embedded in Oracle Apps that allows you to maintain and report accounting records at the transaction level in more than one functional currency.

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5⟩ What is Accounting for invoice in Advance and Arrears?

Accounting for invoice in advance

a) Receivable A/c .....................Dr.

To Unearned revenue a/c

(when we raise the invoice with invoicing rule as advance)

b) Unearned Revenue A/c .............. Dr.

To Revenue A/c

(when we receive the payment, the number of journal entry (b) is depend upon the accounting rules which can be fixed or variable)

Accounting for invoice in arrears

a) Unbilled receivable a/c ....................Dr.

To Revenue a/c

(when we receive the payment of unbilled invoice, the number of journal entry (a) is depend upon the accounting rules which can be fixed or variable))

b) Receivable a/c .........................Dr.

To Unbilled receivable a/c

(when we raise the invoice, with invoicing rule arrears)

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6⟩ Explain What are value sets?

Valuesets are collection of set of Values.

There are six types of value sets available in Oracle Apps.

1) Dependent.

2) Independent.

3) Special.

4) None.

5) Table.

6) Pair.

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8⟩ What is Deposit Account?

A savings account in which the deposit is held for a fixed term or in which withdrawals can be made only after giving notice or with loss of interest.

Deposit a/c means particular sum we can retain with bank with interest or without interest. Whenever we need money we can withdraw it.

Or

Any sum retain with owner for lease or rent agreement. whenever our agreement end. We received that amount it calls deposit.

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11⟩ What is main tables involved in AR, and what is the data stored in them?

RA_BATCHES_ALL

- INFORMATION ABOUT TRANSACTION BATCHES

RA_CUSTOMER_TRX_ALL

- HEADER INFORMATION ABOUT TRANSACTION

RA_CUSTOMER_TRX_LINES_ALL

- LINES INFORMATION ABOUT TRANSACTION

RA_CUST_TRX_LINE_GL_DIST_ALL

- DISTRIBUTION INFORMATION ABOUT TRANSACTIONS

RA_CUST_TRX_LINE_SALESREPS_ALL

- SALES REPS OF TRANSACTIONS INFORMATION

AR_PAYMENT_SCHDULES_ALL

- INFORMATION ABOUT PAYMENT SCHDULES

AR_APPLICATION_PAYABLES_ALL

RA_INTERFACE_ERRORS

- ERRORS IN AUTO INVOCIE INTERFACE DATA

RA_INTERFACE_LINES_ALL

- USE THIS TABLE TO ENTER HEADER AND LINES INFORMATION IN AUTO INVOICE INTERFACE PROGRAM

RA_INTERFACE_DISTRIBUTIONS_ALL

- DISTRIBUTION TABLE IN AUTO INVOICE INTERFACE PROGRAM

RA_INTERFACE_SALESCREDITS_ALL

- SALESCREDITS INFORMATION TABLE IN AUTO INVOICE INTERFACE PROGRAM

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12⟩ What is HZ_ in customer tables?

All tables that starts with HZ_ are related to the Trading Community Architechture (TCA). In these table we can find all the information about the Customers, Organization, Person's.

From release 11i TCA came into picture in Accounts Recievable module, where oracle has grouped all the customer information at one place. Most important tables in TCA are HZ_PARTIES, HZ_CUST_ACCOUNTS_ALL, HZ_CUST_ACCT_SITES_ALL, HZ_CUST_SITE_USES_ALL, HZ_LOCATIONS, HZ_PARTY_SITES, HZ_PARTY_SITE_USES, HZ_CONTACT_POINTS. few to name.

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13⟩ What are the things which are included in cash and cash equivalent?

Cash and cash equivalents may include but are not limited to:

☛ Currency

☛ Checks received but not yet deposited

☛ Checking accounts

☛ Petty cash

☛ Savings accounts

☛ Money market accounts

☛ Short-term, highly liquid investments with a maturity of three months

☛ Less at the time of purchase.

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15⟩ Please tell me what is cash and cash equivalent?

Cash and cash equivalents are balance sheet items that represent either physical money on hand or in bank accounts and other assets that can be easily converted to cash without a significant loss in their value.

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16⟩ Explain the importance of Batch Source set up in AR?

Batch sources control the standard transaction type assigned to a transaction and determine whether Receivables automatically numbers your transactions and transaction batches. You can define two types of transaction batch sources:

Manual

Imported

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