Home » Applications » Oracle Fusion Apps & E-Business Suite » wat exactly Flexfield Qualifier is?
| wat exactly Flexfield Qualifier is? [message #183706] |
Sat, 22 July 2006 06:30  |
amgautam
Messages: 1
Registered: July 2006
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Junior Member |
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hi
why exactly do we need Flexfield Qualifier?
In the sense that what purpose they serve for Key Flexfield?
In the Vision Instance, we hav 5 Qualifiers, of which "Natural Account Segment" and "Balancing Segment" r the most important ones. why?
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| Re: wat exactly Flexfield Qualifier is? [message #183763 is a reply to message #183706] |
Sun, 23 July 2006 07:31  |
agostino_neto
Messages: 180
Registered: July 2005
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Senior Member |
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Just two examples:
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There are many reports in which natural account segment plays a key role. Since those reports are not design for a particular chart of account, we can not say in general which segment represent the natural account.
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When intercompany balancing lines are generated by the posting program - it is important to know the balancing segment (each balancing segment value should be balanced).
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| Re: wat exactly Flexfield Qualifier is? [message #183901 is a reply to message #183706] |
Mon, 24 July 2006 05:26 |
David.K.Dickson
Messages: 413
Registered: October 2005
Location: Surrey, England
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Senior Member |
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| amgautam wrote on Sat, 22 July 2006 12:30 |
why exactly do we need Flexfield Qualifier?
In the sense that what purpose they serve for Key Flexfield?
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The Flexfield Qualifier allows you to have different rules for the different segments of the flexfield. This is particularly important in the Accounting Flexfield.
| Quote: |
In the Vision Instance, we hav 5 Qualifiers, of which "Natural Account Segment" and "Balancing Segment" r the most important ones. why?
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The "Natural Account Segment" is very important to the accountants, because the Natural Account is used to break down the amounts by the nature of the transaction, e.g. Sales, Purchases, Bank, Loans, etc. The Natural Accounts are grouped into 5 types which are:
 Revenue:- Revenue or Income for the business, usually in the form of sales, subscriptions, rentals, grants or such like.
Expenditure:- Costs of doing business, such as purchases, manpower, premises costs, fuel, stationery, advertising, shipping, etc.
Assets:- Property owned by the business, including land, buildings, plant, machinery, vehicles, computers, stock, debtors, cash, etc.
Liabilities:- what the business owes, e.g. loans, creditors, overdrafts, etc.
Owner's Equity:- the net worth of the business, represented by share capital, retained earnings, fund balances, etc.
The "Balancing Segment" is very important, because all of the accounting entries for a Legal Entity must balance (i.e. Debits equal Credits) - it is an accounting requirement. A Legal Entity is a part of the organisation that you produce financials statements for (e.g. Balance Sheet, Profit and Loss, etc.). You must define the segment that contains the company or fund or ..... representing the Legal Entity.
For more insight into the implications in your own organisation, I would suggest that you talk to one of your own Accounting Users. For more general information, consult a book on basic accounting.
 HTH
David
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