Before printing your Financial Statements, each account must be
summarized.
This summarize utility can be initiated from Financial
Statements sub-menu on the G/L menu, for the specified time
period to be summarized.
The account totals are summarized and stored in a temporary file
so that Financial Statements can be easily produced for that
period.
(The summarized account total values are held until Summarize
G/L For Financial Statements is re-run again.)
Note: Each time a new account is added to the Chart of Accounts, the Statement Layouts need to be updated so the new account is reflected on the appropriate layout too.
Multiple copies of the various Financial Statements can be
printed without re-summarizing the GL.
Reports that are generated from these summarized totals
include:
If adjustments are made to the G/L in the summarized period, the
G/L accounts can be re-summarized quickly again for that same time
period, just adding in the additional records into the same date
range.
When the date range is changed to a new time frame, the summarize
process is more lengthy as all the records need to be
re-summarized.
The prompts are:
Note: Many other reports and inquiries also use the Year Start and Period Start/End Dates defined the last time the G/L was summarized, as their default dates.
When the summarization is finished, the program automatically exits and the Balance Sheet and the Income Statements can be printed.
Consolidating Summarized Totals for Multiple
Companies:
Once the summarization of the General Ledger is
completed, the totals of companies identified as "child" companies
can be consolidated with the summarized totals of a "parent"
company for the purpose of financial management reporting.
This feature is only available to companies running in the same
instance of Oracle.
Refer to Consolidate Summarized G/L Trx
for information about this feature.
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