Oracle and Oracle Database

What is Oracle?
Oracle is a US based organization known for its Oracle database and ERP products. Oracle with more than 380,000 customers—including 100 of the Fortune 100—and with deployments across a wide variety of industries in more than 145 countries around the globe, Oracle offers an optimized and fully integrated stack of business hardware and software systems.
Oracle is associated with famous personality Larry Ellison. Larry" Ellison (born August 17, 1944) is an American business magnate, co-founder and chief executive of Oracle Corporation.

Oracle Customers:
Oracle has Customers in various Domains such as Banking, Automotive, Chemicals, Communications, Consumer Goods, etc.

Oracle Acquisitions:
Oracle has aggressive strategy in Acquisitions and is known for acquisitions of big and small companies around the world.Some of the famous acquistions are Sun, Peoplesoft, JDEdwards, iFlex, Logical Apps, Hyperion, etc.

Visit http://www.oracle.com/us/corporate/acquisitions/index.html for complete list

Oracle website:
www.oracle.com

What is Oracle Database?
Oracle Database is the first database designed for enterprise grid computing, the most flexible and cost effective way to manage information and applications. Enterprise grid computing creates large pools of industry-standard, modular storage and servers. With this architecture, each new system can be rapidly provisioned from the pool of components. There is no need for peak workloads, because capacity can be easily added or reallocated from the resource pools as needed.

An Oracle database is a collection of data treated as a unit. The purpose of a database is to store and retrieve related information. A database server is the key to solving the problems of information management. In general, a server reliably manages a large amount of data in a multiuser environment so that many users can concurrently access the same data. All this is accomplished while delivering high performance. A database server also prevents unauthorized access and provides efficient solutions for failure recovery.

The Oracle RDBMS stores data logically in the form of tablespaces and physically in the form of data files ("datafiles").[6] Tablespaces can contain various types of memory segments, such as Data Segments, Index Segments, etc. Segments in turn comprise one or more extents. Extents comprise groups of contiguous data blocks. Data blocks form the basic units of data storage.The database has logical structures and physical structures. Because the physical and logical structures are separate, the physical storage of data can be managed without affecting the access to logical storage structures.

Oracle database versions:
Its latest versions are Oracle Database 10g and 11gR2, 11g R1



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Oracle Apps Receivables Accounting entries

Transactions Accounting:
Accounting setups:
1. Define Receivable and Revenue Account for Transaction Type like Invoice,Credit Memo,etc.
    Navigation
    Setup>Transactions>Transaction Types

2. Define AutoAccounting which determines defaulting rules for each segment of different Accounts like
    Receivable, Revenue, Tax, etc
    Setup>Transactions>AutoAccounting

Accounting entries:
Below are Transaction Accounts that are hit for Transaction like Invoices and Credit Memos
Invoices
When you enter a regular invoice through the Transactions window,
Receivables creates the following journal entry:
DR Receivables
CR Revenue
CR Tax (if you charge tax)
CR Freight (if you charge freight

Credit Memos
When you credit an invoice, debit memo, or charge back through the
Credit Transactions window, Receivables creates the following journal
entry:
DR Revenue
DR Tax (if you credit tax)
DR Freight (if you credit freight)
CR Receivables (Credit Memo)
DR Receivables (Credit Memo)
CR Receivables (Invoice)

Receipts Accounting:
Depending upon the status of the Receipt whether its Applied, Unapplied, Applied On-Account the
Transaction entries will hit different accounts. The Accounts are defaulted based on Payment method
(Receipt Class) and Remittance Bank selected when you enter the receipt.

Accounting setups:
Navigation:
Setup>Receipts>Receipt Classes
1.Define your Receipt Class along with  Remittance Bank. Receivables uses the default Cash, Unapplied,
   Unidentified, On account, Unearned, and Earned accounts that you specified in the Remittance Banks
    window for this receipt class.

2. Remittance Method: determines status of receipt, remittance required or not Standard, No Remittance

3. Clearance Method: Determines whether clearance is required or not.
        By Automatic Clearing
        By Matching
       Directly
4. At Receipt Class the values of Remittance method and Clearance method determines whether accounting
     entries hit Remittance and Cash Clearing accounts. If these are No Remittance and Clearing is Directly
     the accounting entries don't hit Remittance and Cash Clearing accounts.

Accounting entries:
These examples assume that the receipt has a Remittance Method of No Remittance and a Clearance Method of Directly.
When you enter a receipt and its Unapplied, Receivables creates the following journal entries:
DR Cash
CR Unapplied Cash

When you fully apply a receipt to an invoice, Receivables creates the following journal entry:
DR Cash
DR Unapplied Cash
CR Unapplied Cash
CR Receivables

When you enter an unidentified receipt, Receivables creates the following journal entry:
DR Cash
CR Unidentified

When you enter an on– account receipt, Receivables creates the following journal entry:
DR Cash
CR Unapplied
DR Unapplied
CR On–Account

When your receipt includes a discount, Receivables creates the following journal entry:
DR Receivables
CR Revenue
DR Cash
CR Receivables
DR Earned/Unearned Discount
CR Receivables

At Receipt Class the Remittance and Clearance method is set as Standard and By Matching
Enter the Receipt the entry hits Receipt Confirmation with status of receipt as Confirmed
DR Receipt Confirmation
CR Receivables

Once the receipt is remitted and status becomes "Remitted"
DR Remittance
CR Receipt Confirmation

Once receipt is Cleared
Dr Cash
CR Remittance


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