New Oracle General Ledger Functionality Available!

Now available in the Oracle General Ledger is the ability to set-up a general ledger journal entry to automatically reverse in the next period. To use this functionality

1. Choose journal category “Auto JV Rvrsl” for the journal category, this can be done both through ADI and manual entry in Oracle Forms.
2. The original Journal entry will post in the normal posting process.
3. Overnight the reversal job will process in Oracle and create the reversing journal entry automatically for the following month. The effective date will be:
   • The first day of the month in a future month reversal
   • The current date in current month reversal
   • The last day of the month in a past month reversal
4. Entry will post based upon the following schedule:
   • If the reversal period is currently open, the entry will post the following day from the original entry posted. The posting date will be the actual posting date.
   • If the reversal period is not open yet, then the entry will wait until the period opens in Oracle, then post that first day.

Any questions on this new functionality please reach out to Tim McKiel (53766) or Karen O’Rourke (63375).