Summary Accounts

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Oracle General Ledger provides flexible summarization features so you can organize your detailed accounting data into meaningful financial information. The advanced posting technology provided by Oracle General Ledger simultaneously updates both detail and summary balances while posting each journal entry, thus ensuring maximum control and auditability of all financial information.
Business Needs
With Oracle General Ledger you can:
•        Automatically maintain summary balances every time you post transactions
•        Set up any number of summary accounts, including accounts that summarize accounting information at multiple levels across your organizational dimensions
•        Use summary accounts to quickly generate summary financial reports such as income statements and balance sheets
•        Reference summary accounts in allocations and in actual and budget formula calculations
•        Major Features
Summary Account Templates
Using patterns you define, you can create summary accounts any way you want. You can even summarize the same accounts more than once, in different ways. And, you can easily revise your summarization patterns when you change your organizational structure.
Rollup Groups
You can summarize your accounting information at any level of detail.  For example, you can roll up districts into states and then into regions.  You can also name your rollup groups for easy identification.
On-line Summary Balances
Oracle General Ledger automatically updates your summary balances every time you post journal entries so that your summary balances are available and up-to-date at all times. You can perform on-line drilldown, from summary balances to detail balances to journal entries to subledger transactions, all within a single form.
Allocations and Recurring Formulas
You can reference summary accounts in allocations and recurring journal entry formula calculations to produce sophisticated accrual and allocation entries.
Summary Reporting
You can quickly produce summary financial statements, such as income statements and balance sheets, using summary accounts. Since Oracle General Ledger’s ‘Super Ledger’ architecture maintains both summary and detail balances in a single integrated ledger, you are always guaranteed current summary balances in your reports.