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summary accounts??? [message #162782]

Mon, 13 March 2006 11:29

pallavireddy
Messages: 24
Registered: September 2005
Location: usa

Junior Member

hi

in financials what is the importance of summary accounts, why are they actually defined ??????????

how does they summarize account balances in multiple accounts, can any one explain me in detail and its functional effect

pallavi

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Re: summary accounts??? [message #163122 is a reply to message #162782]

Wed, 15 March 2006 00:14

itskim
Messages: 20
Registered: March 2006

Junior Member

Summary accounts are used for reporting purposes.
mainly used to report on account balances of different companies using the same set of book. (all components of the sob are same).

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Re: summary accounts??? [message #163169 is a reply to message #162782]

Wed, 15 March 2006 05:03

David.K.Dickson
Messages: 413
Registered: October 2005
Location: Surrey, England

Senior Member

Oracle supports both Summary and Parent accounts. My understanding of these (although I am prepared to be corrected if anybody knows better) is that:

Summary accounts hold the sum of the values posted to their Child accounts, and are therefore useful for on-line queries, as you can immediately see the total values on screen.

Parent accounts hold a list of their Child accounts and are used in reporting and in allocations. In the FSG, you can specify a Parent account and ask for all of the Child accounts to be displayed and totalled, but the total only appears on the report, and is not held anywhere else on the system. In allocations, you can use the Child accounts to pro-rate amounts, e.g. across departments.

Cool

HTH

David

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Re: summary accounts??? [message #164104 is a reply to message #163169]

Tue, 21 March 2006 17:36

pallavireddy
Messages: 24
Registered: September 2005
Location: usa

Junior Member

thanks David Razz

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