Hi Friends
Does any body have the experience of working with Fund accounting concept with Standard Oracle Financials?.
Requirement
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Our Requirement is We have Multiple Legal Entities as per oracle terminology (Logical Entities and not strictly Legal Entity as per Law)
and we have one back account across all these Legal entities and would like to operate Fund accounting Concept.
Example.
Total Balance - 100000 USD in Fund Account
Capital Fund - 30000 USD
Revenue Fund - 70000 USD
The above is owned by three Legal Entities as follows
CM 1 - Capital Fund 10000, Revenue Fund 20000
CM 2 - Capital Fund 10000, Revenue Fund 20000
CM 3 - Capital Fund 10000, Revenue Fund 30000
Client wants a One Bank account to operate across Three Legal Entities and both funds (Capital and Revenue) as mentioned above and reflect Individual balances in the SOB and place a Block for the Payable invoice whenever fund is not available as per Balance shown above.
I have not worked in Public Sector Financials and not aware of the solution. Is it possible with standard Financials and client is on 11.5.10.2
I understand it is like Self Balancing Ledger which we studied theoretically in Accounts and would like to know how it is used in Oracle
If anybody has experience in this area please provide your input or Documentation
Thanks and Regards
Sivakumar
Fund Accounting with Standard Oracle Financials
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