This blog is the next part of my previous one which was Business Groups in HRMS
Business Group is part of MultiOrg model of Organizations
The Multi-Org model provides a four level hierarchy that dictates how transactions flow through different business units and how those business units interact
• Set of Books- GL- Balancing Entities/Funds
• Business Group
• Legal Entity -HR- Fin- Legislative Reporting
• Balancing Entity
• Operating Unit- AP, AR, PO, OE -Bal Segment 1, Bal Segment 2,Bal Segment 3
• Inventory Org MFG, INV, Ship
There is one confusion between Oracle Financial and HRMS consultant, as they simply assume SOB is more meant for non HRMS module and BG is more for HRMS, in certain extend this is true.Lets investigate this on GRE\LE and OU as follows:
Know something more for SOB
• As covered in earlier post ,a set of books is a financial reporting entity that shares the three C’s that is Chart of accounts(accounting flexfield structure), functional currency and calendar.
• Oracle General Ledger secures transaction information (journal entry),When we use General Ledger, we choose a responsibility that specifies a set of books. We then see information only for that set of books.
• In the multiple set of books, the concept of item master Organization exist, since the item master organization is used for item definition and not item accounting information.
• More over all accounting activity releated to the item master can be controlled at the item or organization level. Example is consolidation at the corporate office or Head office.
In the next part I will differentiate Operating Unit vs Business Groups
Business Group is part of MultiOrg model of Organizations
The Multi-Org model provides a four level hierarchy that dictates how transactions flow through different business units and how those business units interact
• Set of Books- GL- Balancing Entities/Funds
• Business Group
• Legal Entity -HR- Fin- Legislative Reporting
• Balancing Entity
• Operating Unit- AP, AR, PO, OE -Bal Segment 1, Bal Segment 2,Bal Segment 3
• Inventory Org MFG, INV, Ship
There is one confusion between Oracle Financial and HRMS consultant, as they simply assume SOB is more meant for non HRMS module and BG is more for HRMS, in certain extend this is true.Lets investigate this on GRE\LE and OU as follows:
Know something more for SOB
• As covered in earlier post ,a set of books is a financial reporting entity that shares the three C’s that is Chart of accounts(accounting flexfield structure), functional currency and calendar.
• Oracle General Ledger secures transaction information (journal entry),When we use General Ledger, we choose a responsibility that specifies a set of books. We then see information only for that set of books.
• In the multiple set of books, the concept of item master Organization exist, since the item master organization is used for item definition and not item accounting information.
• More over all accounting activity releated to the item master can be controlled at the item or organization level. Example is consolidation at the corporate office or Head office.
In the next part I will differentiate Operating Unit vs Business Groups
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