Accounting Method Builder (AMB) ,Event Classes and Event Types

Subledger Accounting is a new set of tools, accounting engines and repsoitory. Accounting Method Builder is a part of Subleger accounting.

Accounting Methods Builder:

• Toolset to define Journal Entry rules for the transactions and events of a subledger application.
• Allows defining multiple sets of rules to be used concurrently for different requirements.

How Accounting Methods Builder works Journals are split into three main components:
1.Description
2.Line Types
3. Account Derivation Rules.

Event:
Subledger Accounting introduces the concept of events for the transactions. An event is the recording of a change of status in the transaction life cycle (for example, an invoice has been approved, a payment has been cancelled, a period has been closed, etc.). This is a fundamental component of the design to allow a clear separation between transactions and their accounting representations.Since events are the bridge between the transactions and the journal entries.


Event Model: Definition of the subledger transactions types and lifecyle.
Event Class: Classifies transaction types for accounting rule purposes.

Payables - Invoice, Debit Memo, Prepayment, Payments, Refunds.

Receivables - Invoice, Deposit, Receipt and Bill Receivables.

Purchasing - Requistion, Purchase Order.

Event Type: Accounting event types represent the business operations that can be performed on the event class. An accounting event always has an associated event type.

For each transaction type, defines possible actions with accounting singnificance.

- Payables Invoice - Validated, Adjusted, Cancelled.

-Receipt - Created, Applied , Unapplied , Updated , Reversed. Adjusted.

-Purchase Order - Created, Distributed, Cancelled, Rejected, Finally Completed.

Oracle Subledger Accounting introduces a new Subledger Accounting Rules Detail Listing Report to provide detailed information about accounting rules defined for a subledger accounting method. The report can be submitted from the individual subledger applications or from Oracle General Ledger.
In addition, the report can be submitted for custom applications registered within Oracle Financial Accounting Hub.Users can now use the new report to easily review the following setup details:
• Subledger Accounting Method
• Journal Line Definition
• Journal Line Type
• Account Derivation Rule
• Journal Header Description
• Journal Line Description.