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Implementing Oracle Fusion General Ledger and Oracle Fusion Accounting Hub by Nivas Ramanathan, Vladimir Ajvaz, Anil Passi

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CHAPTER6

Implement Ledgers and Business Unit

In this chapter, we will introduce readers to the Ledgers and Business Unit concept in Enterprise Structure. A ledger is a principal book or computer file for recording and totaling transactions by account, with debits and credits in separate columns and an “opening” and “closing” balance for each account. A Business Unit is an organization in Enterprise Structure that processes transactions on behalf of one or more Legal Entities. Business Units are associated with Subledgers like Accounts Payable, Accounts Receivables, Procurement, and so on, where actual business transactions like Customer Invoicing, Customer Payments, Supplier Invoices, and Supplier Payments are processed.

In the previous chapter, ...

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