Book Image

Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation

By : Ranjeet Yadav
Book Image

Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation

By: Ranjeet Yadav

Overview of this book

PeopleSoft financial management applications have been recognized as a leading ERP product across a wide range of industries that helps organizations automate their accounting operations, cut costs, and streamline business processes. They offer industry leading solutions for organizations' global needs, however complex they may be. PeopleSoft Enterprise Financial Management 9.1 Implementation is probably the only learning resource for a novice practitioner, who may otherwise have to rely on thousands of pages of documentation for such a complex ERP system. This book covers all the crucial elements of PeopleSoft Financials—a business processes, configuration, and implementation guide. This is the ideal one-stop resource before entering the world of PeopleSoft implementation. Beginning with the fundamentals of a generic financial ERP system, this book moves on to basic PeopleSoft concepts and then dives into discussing the individual modules in detail. You will see how to leverage financial modules such as Billing, Accounts Receivable, Accounts Payable, Asset Management, Expenses, and General Ledger. Dedicated chapters discuss key PeopleSoft features such as application security and commitment control for budgeting. You will learn fundamental ERP concepts such as the chart of accounts, used by organizations for recording and reporting financial transactions, and how to implement them in PeopleSoft through chartfields, business units, and SetIDs.
Table of Contents (16 chapters)
Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
Index

Understanding allocations


Processing allocations is an integral part of accounting processes. An organization incurs various expenses that later need to be allocated (distributed) among various units using certain parameters. These expenses typically include, but are not limited to, rent expenses, utility expenses, salaries for support functions such as human resources and IT support, general expenses such as advertising, and so on.

Let's consider a simple example to understand this concept. Assume that an organization has 400 employees working in its two departments—hardware sales and software services. This organization also has an administration support department. For the sake of simplicity, we'll assume that it uses only two chartfields: Account and Department. Let's say the chartfield values are as follows:

Account

Department

Value

Description

Value

Description

900000

Salary expenses

A300

Hardware sales

  

A400

Software services

  

A500

Administration

The salary for the...