General Ledger Default Accounts

Account Name
Closing: Retained Earnings
Adj Closing: Translation ustment

Description
General Ledger posts the net balance of all income and
expense accounts from the prior year against your retained
earnings account.
jUsed for any net ad ustments resulting from currency
translation or revaluation.

Account Type
Ownership/S tockholder's
Equity/Fund Balance
Ownership/S tockholder's
Equity/Fund Balance

Fixed Assets Default Accounts

Account Name

Description

Account Type

Proceeds of Sales Gain

Retirement account to record the gain from sale of fixed asset.

Revenue

Proceeds of Sale Loss

Retirement account to record the loss from sale of fixed asset.

Expense

Proceeds of Sale Clearing

Cost of Removal Gain
Cost of Removal Loss
Cost of Removal Clearing
Net Book Value Retired Gain
Net Book Value Retired Loss

Retirement clearing account to record

Retirement account to record the gain on Cost of Remova
Retirement account to record the Loss on Cost of Remova
Retirement clearing account to record
Retirement account to record Net Book Value Retired Gain
Retirement account to record Net Book Value Retired Loss
Retirement account to record retirement of Revaluation
Reserve Account resulting in a gain
Retirement account to record retirement of Revaluation
Reserve Account resulting in a loss
Intercompany Accounts Payable account for intercompany
transfer transactions
Intercompany Accounts Receivable account for intercompany
transfer transactions
Deferred Depreciation Reserve Account
j Used as an offset account for entry against depreciation
reserve when doing reserve ad ustments in a Tax book
Determines the segment values the account generator
workflow will use for the cost center segment, product
segment, future1 segment and future2 segment.

Asset
Revenue
Revenue
Liability
Revenue
Expense

Reval Reserve Retired Gain

Reval Reserve Retired Loss
Intercompany Accounts Receivable
Intercompany Accounts Payable
Deferred Depreciation Reserve
Deferred Depreciation Expense
Account Generator Defaults

Revenue
Expense
Asset
Liability
Liability
Expense
Asset

Payables Default Accounts (Payables Options and Financial Options)

Account Name

AP -Trade

Prepayment
Future Dated Payment
Discount Taken
PO Rate Variance Gain
PO Rate Variance Loss
Realized Gain
Realized Loss

Description
Default Liability Account for all new suppliers you enter. You
can override this value during supplier entry. If you use Accrual
Basis accounting, then the Liability Account for an invoice
determines the liability Account(s) charged when you create
accounting entries for invoices.
Account to Record Prepayments
When Payables accounts for future dated payments, it uses
the Future Dated Payment Account from either the supplier
site or the payment document.

Account Type

Account used to record the discounts you take on payments.

Expense

Account used to record the exchange rate variance

gains/losses for your inventory items.
Account used to record the exchange rate variance
gains/losses for your inventory items.
Default realized gain account for payments from each of your
bank accounts.
Default realized loss account for payments from each of your
bank accounts.

Liability

Asset
Liability

Expense
Expense
Expense
Expense

Payables uses this account for currency rounding at the

following times: You use multiple currencies and the payment
currency does not round within the payment currency
precision. The functional currency amounts of payments do not
equal the amount recorded as the liability. You have enabled
automatic offsets and the cash account is pooled, and you
have rounding errors.
Account to which tax amounts for the tax code is charged.
Account to which tax amounts for the tax code is charged.
Account to which tax amounts for the tax code is charged.
Account to which tax amounts for the tax code is charged.
Account to which tax amounts for the tax code is charged.
Account to which tax amounts for the tax code is charged.

Rounding

Tax Account WHT 0.5%

Tax Account WHT 2%
Sales Tax10%
Sales Tax15%
Sales Tax20%
Sales Tax 05%

Expense

Liability
Liability
Liability
Liability
Liability
Liability

Payables Expense Report TemplateTravel Default Accounts

Account Name
Expense Item Taxi
Expense Item Meals
Expense Item Airfare
Expense Item Lodging
Expense Item Car Rental
Expense Item entertainment
Expense Item -Miscellaneous

Description
Default Expense Account for this Expense Item
Default Expense Account for this Expense Item
Default Expense Account for this Expense Item
Default Expense Account for this Expense Item
Default Expense Account for this Expense Item
Default Expense Account for this Expense Item
Default Expense Account for this Expense Item

Account Type
Expense
Expense
Expense
Expense
Expense
Expense
Expense

Payables TaxAuthority Supplier Site(Bureau of Internal Revenue)Default Accounts

Account Name
Liability Account
Prepayment Account

Description
The Liability Account for this supplier site's invoices
The Prepayment Account for this supplier site's invoices
The Future Dated Payment Account for this supplier site's
invoices

Future Dated Payment Account

Account Type
Liability
Asset
Liability

Realized Gains Account

Receivables posts changes in your functional currency to your

Realized Gains or Losses account in your general ledger if
there are differences in exchange rate gains or losses.

Expense

Realized Losses Account

Receivables posts changes in your functional currency to your

Realized Gains or Losses account in your general ledger if
there are differences in exchange rate gains or losses.

Expense

Tax Account

Cross Currency Rounding Account

Header Rounding Account

Tax Account to use as the default value in the Tax Codes and
Rates window.
Account to record any rounding error amounts created during a
cross currency receipt application for currencies that have a
fixed rate relationship. You need to define a rounding error
account if you create cross currency receipts.
Account to record any rounding differences that occur when
converting foreign currency transactions to your functional
currency.

Liability

Expense

Expense

Receivable Activities Default Accounts

Account Name
Earned Discounts Activity GL Account
Unearned Discounts Activity GL Account
Write Off Activity GL Account
Miscellaneous Cash Activity GL Account
Bank Charge Activity GL Account
Bank Error Activity GL Account

Description
Earned Discounts Accounts
Unearned Discounts Account
Bad Debt Expense
Miscellaneous Cash Account
Bank Charge Account
Bank Fees Account

Account Type
Revenue
Revenue
Expense
Revenue
Expense
Expense

The clearing account for your imported transactions.

Receivable uses the clearing account to hold any difference
between the specified revenue amount and the selling price
times the quantity for imported invoice lines.
The freight account for your transaction.
The unearned revenue account for your transaction. Receivable
uses this account when you use the Bill In Advance invoicing
rule.
The unbilled receivable account for your transaction.
Receivables uses this account when you use the Bill In Arrears
invoicing rule

AutoInvoice Clearing
Freight
Unearned Revenue

Unbilled Receivable

Asset
Asset
Revenue

Asset

Receivables TaxCodes Default Accounts

Account Name

Cash (Bank Account with Currency EGP)

Cash (Bank Account with Currency USD)

Description
Account to which tax amounts for the tax code is charged.
AutoAccounting uses this value if the AutoAccounting structure
for your tax account is derived from the tax code
Account to which tax amounts for the tax code is charged.
AutoAccounting uses this value if the AutoAccounting structure
for your tax account is derived from the tax code
Account to which tax amounts for the tax code is charged.
AutoAccounting uses this value if the AutoAccounting structure
for your tax account is derived from the tax code
Account to which tax amounts for the tax code is charged.
AutoAccounting uses this value if the AutoAccounting structure
for your tax account is derived from the tax code
Account to which tax amounts for the tax code is charged.
AutoAccounting uses this value if the AutoAccounting structure
for your tax account is derived from the tax code
Account to which tax amounts for the tax code is charged.
AutoAccounting uses this value if the AutoAccounting structure
for your tax account is derived from the tax code
Cash account you are associating with a bank account.
Cash account you are associating with a bank account.

Cash Clearing

Clearing account for unreconciled invoice payments or receipts.

Asset

Bank Fees

Charges incurred for transacting with banks.

Differences between transactions occurring with an
organizations bank accounts and what is displayed in bank
statements.
If you use Automatic Receipts in Receivables and are required
to send receipt information to your customer before applying
the receipt, the receivable is maintained in the Accounts
Receivable account until it is confirmed. Upon confirmation, it
is reversed from the Accounts Receivable account and placed
into the Confirmed Receipts account.
Accounts for future dated payments at either the payment
document or supplier site level.
The account in which you deposit remitted receipts.
The account in which you deposit unapplied receipts.
The account in which you deposit unidentified receipts.
The account in which you deposit onaccount receipts.
If the exchange rate changes between invoice entry and
payment, Payables automatically calculates the realized gain
and records it in this account.
If the exchange rate changes between invoice entry and
payment, Payables automatically calculates the realized loss
and records it in this account.

Expense

Cash Clearing

Clearing account for unreconciled invoice payments or receipts.

Asset

Bank Fees

Charges incurred for transacting with banks.

Differences between transactions occurring with an
organizations bank accounts and what is displayed in bank
statements.

Expense

Tax Account WHT 0.5%

Tax Account WHT 2%

Sales Tax10%

Sales Tax15%

Sales Tax20%

Sales Tax 05%

Bank Errors

AR Confirmed Receipts

Future Dated Payment

AR Remitted Receipts
Unapplied Receipts
Unidentified Receipts
On Account Receipts
Realized Gain

Realized Loss

Bank Errors

General Ledger Intercompany Default Accounts

Account Type
Liability

Liability

Liability

Liability

Liability

Liability
Asset
Asset

Expense

Asset

Liability
Asset
Asset
Asset
Asset
Expense

Expense

Expense

Account Name
Due From Account
Due To Account

Description
Inter company Receivable Account
Inter Company Payable Account

Account Type
Asset
Liability

Inventory Default Accounts

Account Name

Description

Account Type

Material Account

Asset account that tracks material cost. For average costing,

this account holds your inventory and intransit values. Once
you perform transactions, you cannot change this account.

Asset

Outside Processing Account

Material Overhead Account
Overhead Account
Resource Account
Expense Account
Revenue Clearing

Purchase Price Variance

Receivable
Payable

Intransit Inventory

Purchase Price Variance

Invoice Price Variance

Inventory AP Accrual
Sales
Cost of Goods Sold
Average Cost Variance Account
Receiving Inventory Account
Clearing Account

Goods Dispatched Account

Asset account that tracks outside processing cost.

Asset account that tracks material overhead cost.
Asset account that tracks resource and outside processing
overheads.
Asset account that tracks resource cost.
Expense Account used when tracking non-asset item.
The default general ledger account used to collect transfer
charges when this Organization is the shipping organization.
This is usually an expense account.
The default general ledger account used to collect the
purchase price variance for interorganization receipts into
standard cost organizations. This is usually an expense
account. This account is not used with the average cost
method.
The default general ledger account used as an interorganization
clearing account when this organization is the shipping
organization. This is usually an asset account.
Interorganization clearing account when this organization is the
receiving organization. This is usually a liability account.
The default general ledger account used to hold intransit
inventory value. This is usually an asset account. For average
cost organizations, this account is the default material account.
The variance account used to record differences between
purchase order price and standard cost. This account is not
used with the average cost method.
The variance account used to record differences between
purchase order price and invoice price. This account is used by
Accounts Payable to record invoice price variance.
The liability account that represents all inventory purchase
order receipts not matched in Accounts Payable, such as the
uninvoiced receipts account.
The profit and loss (income statement) account that tracks the
default revenue account.
The profit and loss (income statement) account that tracks the
default cost of goods sold account.
The account used to book the Average Cost Variance
The accounting flexfield for the default Receiving Accrual
Account
The account that is used for intercompany receivables in the
procuring organization when the receiving organization is not
the same as the procuring organization.
The sales order issue transaction uses this account if the
Oracle Order Management workflow cannot determine COGS
Account.

Asset
Asset
Asset
Asset
Expense
Revenue

Expense

Asset
Liability

Asset

Expense

Expense

Liability
Revenue
Expense
Expense
Asset
Asset

Expense

Purchasing
Account Name

Description

Account Type

Expense AP Accrual Account

This is the account used by Oracle Purchasing to accrue your

payable liabilities when you receive your Expense items

Liability

OverHead Absorption nDefault tAccounts s

Account Name
Transaction Type -CRM Mixed

Description
The Cost of Goods sold Account for this Transaction Type
The offset account for any cost earned to the inventory or work
Over Head Absorption Account -FACILITY
in process value.
The offset account for any cost earned to the inventory or work
Over Head Absorption Account MatlMgmt
in process value.
The offset account for any cost earned to the inventory or work
Over Head Absorption Account MGMT
in process value.
The offset account for any cost earned to the inventory or work
Over Head Absorption Account BENEFITS
in process value.
The offset account for any cost earned to the inventory or work
Over Head Absorption Account INDIRECT
in process value.
The offset account for any cost earned to the inventory or work
Over Head Absorption Account EQUIP/TOOL
in process value.

Account Type
Expense
Expense
Expense
Expense
Expense
Expense
Expense

Sub Inventory Default Accounts

Account Name

Description

Account Type

Material Account

Asset account that tracks material cost. For average costing,

this account holds your inventory and intransit values. Once
you perform transactions, you cannot change this account.

Asset

Outside Processing Account

Material Overhead Account
Overhead Account
Resource Account
Expense Account

Created By
Ehab Asaad Mohamed
EXP.Applications Consultant

Asset account that tracks outside processing cost.

Asset account that tracks material overhead cost.
Asset account that tracks resource and outside processing
overheads.
Asset account that tracks resource cost.
Expense Account used when tracking non-asset item.

Asset
Asset
Asset
Asset
Expense