Which General Ledger concepts apply to Purchase Order?

Before you use the Purchase Order application, become familiar with the General Ledger concepts in the following table. These concepts are used often throughout Purchase Order processing. For more detailed information about each of the concepts, see the General Ledger User Guide.

Chart of Accounts	A list that contains all the posting accounts for your organization.
GL Company	The General Ledger company defines the structure of your organization. You set up the following in General Ledger company: subsystem definition, system control, accounting units.
Accounting Units	Reporting structures such as divisions, cost centers, or departments. Accounting units identify the structure responsible for payment.
Currency Codes	A code that associates the currency used by the vendor, company, or on a transaction.
Exchange Rates	Rates that convert transaction currency to the base, or standard, currency of your company. Exchange rates are used for multinational companies and vendors.
Revaluation	A process you can use to revaluate the currency against the most recent exchange rate.
Translation	A process that consolidates financial statements to a common currency. You can use this when you have two or more companies of different base currencies.