Overview of General Ledger in Oracle Fusion Applications

General Ledger 

Every ledger must have the "4Cs":

1. Chart of Accounts  (CoA) - helps organize accounting the data into segments
2. Calendar - the Calendar identifies the time frame of the transaction
3. Currency  - provides a financial measurement
4. Convention (or called Accounting Convention) - the statutory requirements of how we conduct our accounting (i.e. IFRS, US GAAP, etc.)

Chart of Accounts:

- Minimum of 2 Segments, Maximum of 30 Segments

Three types of Ledgers:

1. Primary Ledger
2. Secondary Ledger
3. Reporting Currency Ledger

You may have multiple Primary Ledgers for each each Legal Entity, depending on the country you're implementing for. A Secondary Ledger also shares all the data as the Primary Ledger, but may have a different accounting convention (i.e. US GAAP and IFRS).
A Reporting Currency Ledger shares all the data as the Ledger its attached to, but may have a different Currency (i.e. US to JPY). Note that one can have a separate Reporting Currency Ledger attached to a Primary and Secondary Ledger.

The Accounting Calendar defines

You may know more about Opening and Closing Accounting Periods on the Article "Overview of General Ledger Periods Cycle".

A quick checklist on the whole General Ledger process is shown in the Article: "General Ledger Accounting Cycle".

Transferring data from Subledgers to the General Ledger:

1. Balances Level - Lowest Level of Detail
2. Journal Level - Moderate Level of Detail
3. Subledger Level - Highest Level of Detail