This document will continue to evolve as existing sections change and new information is added. All updates appear in the following table:
| Date | Update Version | Notes |
|---|---|---|
| 20 AUG 2018 | Update 17D | Revised update 17D. |
| 11 AUG 2017 | Update 17C | Delivered new features in update 17C. |
| 20 AUG 2018 | Update 17B | Revised update 17B. |
This document will continue to evolve as existing sections change and new information is added. All updates appear in the following table:
| Date | Feature | Notes |
|---|---|---|
| 20 AUG 2018 | New Web Service to Update Invoice with Credit Card Information |
Removed from update 17D. |
| 22 DEC 2017 | Line Level Approval | Removed feature from update 17D. |
| 14 NOV 2017 | Customer and Supplier Balance Netting | Updated document. Moved feature to Payables and Receivables sections. |
| 06 OCT 2017 | Created initial document. |
This guide outlines the information you need to know about new or improved functionality in this update.
DISCLAIMER
The information contained in this document may include statements about Oracle’s product development plans. Many factors can materially affect Oracle’s product development plans and the nature and timing of future product releases. Accordingly, this Information is provided to you solely for information only, is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described remains at the sole discretion of Oracle.
This information may not be incorporated into any contractual agreement with Oracle or its subsidiaries or affiliates. Oracle specifically disclaims any liability with respect to this information. Refer to the Legal Notices and Terms of Use for further information.
Common Technologies and User Experience
Configure Auditable Setup Attributes and View Audit Report
You can now enable the audit of selected setup and configuration attributes and view the report to improve control over important enterprise processes:
- Monitor access to the setup attributes that impact important business decisions and processes.
- Maintain a reliable enterprise transaction system that supports day-to-day business operations.
Configurable Email Notifications
You can now use configurable email notification templates for approvals in Expenses, Payables and General Ledger. You can either use the predefined templates as delivered, or modify them according to your business requirements using Oracle Business Intelligence Publisher.
Enhanced Notes Capabilities for Streamlined Customer Account Management
Receivables and Collections users now have access to the same notes pertaining to Receivables transactions.
Receivables and Collections users can now enter internal and customer comments in the Manage Disputes page. These comments are carried forward to the approval workflow notification internal notes. Dispute number, amount, and credit memo reason details are recorded in the notes of the original transaction.
Improved Collection Effectiveness by Expanded Scoring Data Points
You can now build more sophisticated scoring formulas, increase score accuracy, and improve collections effectiveness by leveraging newly available additional scoring data points, such as customer total amount past due and customer weighted average days paid.
Reset Basis at Period End for Transfers and Adjustments
You can now specify following period conventions for your asset adjustments and transfers.
- Recognize your asset transfers immediately and use period-end cost and reserve balances for your transfer accounting.
- Account your adjustments immediately and defer the depreciation basis change to the following period.
Ability for Administrators to Assign Delegates
Expedite the new hire process by enabling administrators to assign expense entry delegates for employees and contingent workers. A new administrative task allows expense managers to assign delegates to their users across the company.
Attendee Data Capture for All Expense Categories
Comply with local regulations and reporting requirements and maintain transparency by capturing attendee data when applicable. You can now enforce attendee data capture and control the attendee data collected by configuring entertainment policies for all expense categories.
Configurable Fields for Cash Advances
Capture additional information by organization or by business unit in cash advance requests to support reporting and spend analysis. Expenses now allows you to collect additional information for cash advances with descriptive flexfields. You can configure additional fields by business units, by cash advance types, or by any other context.
Configurable Fields for Expense Reports
Capture information important to your organizations and business units in expense reports to enhance spend analysis. Expenses now allows you to capture additional information at the expense report level by enabling descriptive flexfields. You can configure the fields by business units or by any other applicable context.
Enhanced Controls for Mobile Expenses
Enhance usability and improve efficiency of your workforce with Mobile Expenses. Expenses mobile application now enables the following capabilities:
- Enables approvers to review PDF and Microsoft Word and Excel documents associated with the expense reports on Apple devices.
- Allows administrators to control password storage in the Expenses mobile application.
Merchant Data Capture for Entertainment Expenses
Improve reporting and spend analysis by capturing merchant information on select entertainment expense types. Expenses now enables you to enforce merchant data capture for entertainment expenses.
Pay Group for Corporate Card Issuer Payment Requests
Streamline the remittance process for corporate card issuers by assigning a specific pay group to payment requests for corporate card issuers. Using a pay group enables you to group payment requests to produce a remittance advice report for each payment.
Support for Gender-Based Expense Policies
Support local requirements where expense amount limits vary by gender. Expenses now enables gender as a rate determinant to define expense amount limits for accommodations, mileage, and miscellaneous expense categories.
Streamlined Reporting: Generation of Reports and Account Groups and Reporting Structure Preview in Rapid Implementation
The Streamlined Reporting enhancements are a set of solutions that jump start and ease report setups to provide instantly available financial reports. The report generation feature integrates with the Rapid Implementation Enterprise Structure setup to automatically generate Financial Reporting reports and Account Groups based on the specific accounting configuration created. An embedded report previewing feature provides additional validation of the reporting structure setup in the context of a sample report to facilitate any required re-alignment.
Generate Financial Reports and Account Groups Process and Copy Account Groups
The Generate Financial Reports and Account Groups process can be submitted at any time to automatically create Financial Reporting reports and Account Groups. The Copy Account Group feature allows you to leverage existing Account Groups and modify the copy to easily produce another report variation.
Manage Cross-Validation Rule Violations Process
Cross-validation rules determine whether a selected value for a particular segment of an account combination can be combined with specific values in other segments to form a new account combination. Use the new Manage Cross-Validation Rule Violations process to list and optionally disable account combinations that violate cross-validation rules for a given chart of accounts. The process also lets you preserve attributes of account combinations to prevent the Inherit Segment Value process from reenabling them.
Correct Misclassified Accounts Process
Use the new Correct Misclassified Accounts process to correct account types for account combinations. Misclassified accounts occur when the inherited account type of the corresponding natural account segment value is set incorrectly. The process also lets you preview the correction results.
Delete Translated Balances Process
The Delete Translated Balances process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration. In these cases, it is not sufficient to just submit a translation again after making the change, but requires that all previous translated balances be deleted first. These scenarios include making changes to the following:
-
Equity or income statement translation method
-
Translation rate type
-
First ever translation period for a translation currency
-
Cumulative translation adjustment account
-
Retained earnings account
-
Account type classification of an account
Customer and Supplier Balance Netting
Use the Customer and Supplier Balance Netting feature to enable the automatic netting of Payables and Receivables transactions within a business enterprise and issue payments and receipts for the netted amounts.
Netting agreements can be defined that incorporate the netting business rules (such as transaction selection criteria) to support your payment practices.
The netting process automatically creates the Payables payments and Receivables receipts required to clear a selected number of Payables and Receivables transactions. The functionality allows you to fine tune netting settlements, prior to completion.
Oracle Payables Cloud now integrates with Adaptive Intelligent and supports sophisticated data science that drives the early payment discount offers.
Early payment discounts offer is established to accelerate payment in return for a reduced net payment amount. The earlier the payment, the greater the discount. The feature is also generally referred to Discount Management or Dynamic Discounting.
The discount amount is calculated by using a formula that incorporates the 'days paid early' and the variable annual percent rate (APR). This is different from the traditional static payment terms that uses pre-negotiated discount terms.
Customer and Supplier Balance Netting
Use the Customer and Supplier Balance Netting feature to enable the automatic netting of Payables and Receivables transactions within a business enterprise and issue payments and receipts for the netted amounts.
Netting agreements can be defined that incorporate the netting business rules (such as transaction selection criteria) to support your payment practices.
The netting process automatically creates the Payables payments and Receivables receipts required to clear a selected number of Payables and Receivables transactions. The functionality allows you to fine tune netting settlements, prior to completion.
Enhanced Notes Capabilities for Streamlined Customer Account Management
Receivables and Collections users now have access to the same notes pertaining to Receivables transactions.
Receivables and Collections users can now enter internal and customer comments in the Manage Disputes page. These comments are carried forward to the approval workflow notification internal notes. Dispute number, amount, and credit memo reason details are recorded in the notes of the original transaction.
Support Credit Checking Against Order Amount Limit
Receivables Credit Checking Service now supports checking the requested amount against the Order Amount Limit captured in the customer or customer account profile. You can define an order amount limit (in addition to the credit limit) to better control the processing of orders with large amounts.
Oracle Transactional Business Intelligence: Standalone Selling Price Report Dashboard
Use the Oracle Transactional Business Intelligence (OTBI) Standalone Selling Price Report Dashboard to analyze the standalone selling prices for a selected effective period or a range of selected effective periods. The dashboard aids you in the analyzing how the standalone selling prices were calculated by providing a drill down to the standalone sales transaction data used to derive the standalone selling prices.
Outsource Tax Processing and Reporting to Third-Party Tax Vendor Solution (Financials)
PARTNER TRANSACTION TAX INTEGRATION WITH ORACLE ERP CLOUD
Oracle ERP Cloud integration with comprehensive transaction tax management solutions provided by tax partners is currently available for tax content, tax calculation, tax determination, and tax reporting. Customers can leverage these partner transaction tax solutions independently or together based on different transaction tax requirements across market segments and industries.
Following are the key benefits in adopting partner transaction tax management solutions:
| Tax Content Offering |
Tax Determination Offering |
Tax Reporting Offering |
|---|---|---|
|
|
|
Transactional Business Intelligence for Financials
Customer Taxpayer Identification Number is Added in Receivables, Subledger Accounting and Revenue Management Subject Areas
Taxpayer Identification Number has been added to paying and bill-to customer details in Receivables, Subledger Accounting and Revenue Management subject areas.
Improved Cross-Functional Reporting Between Payables and Projects
The Payables subject area has been enhanced to support payables reporting by projects and contracts. In Payables Invoices - Transactions subject area, the 'Project Information' folder has been expanded to include information on project, expenditure type, and task. Users with the appropriate Projects subject area access can access the Projects information in the Payables subject areas.
Dynamic Discounting is Available in Payable Payment Disbursement Subject Area
Dynamic discounting attributes have been added in the Invoice Paid Installments Details folder in the Payables Payment Disbursement Subject Area. This provides reporting on dynamic discounting terms such as annual percent, days accelerated, and early payment offer.
Improved Cross Functional Reporting Across Payables Subject Areas
Common Invoice attributes have been enhanced across the Payables subject areas to provide better cross functional reporting among Invoice Holds, Installments, Payment Schedule, Payment, Prepayments and Payment Disbursements.
Invoice Image Routing is Available in Payables Invoices Subject Areas
Invoice Image Routing attributes have been added in Payment Disbursements and Payables Invoices Subject Areas including Invoice Holds, Installments, Prepayment Applications, Transactions, Trial Balances. The attributes are available in the Invoice Details/Reference Information folder.
One Time Payment Party Information is Available in Payables Subject Area
One Time Payment Party information has been added in all Payables subject areas. Two new payable Party dimensions, Party and Party Site have been added to report information on one time payment supplier details including person, organization, address, and site information.
Customer Account and Transaction Details Are Enhanced in the Receivables Subject Area
Miscellaneous enhancements have been added to the Receivables Customer, Revenue Adjustments and Transactions subject areas. They include descriptions for account profile and site profile class, sales person number, from/to dates and credit type and purchase order printing information.
Regional and Country-Specific Features
Withholding Tax Reporting for Argentina
The following new withholding tax reports comply with fiscal reporting requirements in Argentina.
- Purchase Withholding File for Argentina
- Purchase Withholding Certificate for Argentina
Withholding Tax Reporting for Chile
The following new withholding tax reports comply with fiscal reporting requirements in Chile.
- Purchase Withholding Fees Ledger for Chile
- Purchase Withholding Certificate for Chile
- Purchase Withholding Certificate Summary Report for Chile
Withholding Tax Reporting for Colombia
The following new withholding tax reports comply with fiscal reporting requirements in Colombia:
- Purchase Withholding Report for Colombia
- Purchase Withholding Certificate for Colombia
Correction Documents for Poland
In Poland, corrections to previously issued VAT Invoices impacting tax related information require a separate, legal VAT document containing references to both the original (incorrect) information and the new (correct) information. With the Correction Documents for Poland feature, you can generate a separate VAT document to change an invoice already issued to a customer, to help comply with this legal requirement. You can apply invoice discounts, price adjustments or make additional corrections in the Review/Edit transaction pages before the Correction Document is issued to the customer.
Use this feature to generate outputs for Sales and Purchase Value Added Tax (VAT) Registers, and the Standard Audit File for Tax (SAFT) for Poland. This is known as Jednolity Plik Kontrolny (JPK) in Poland. It is the legally defined format (XML) for electronic submission to the tax authorities. The following extracts are supported:
- JPK Accounting Books Extract for Poland
- JPK Bank Statements Extract for Poland
- JPK Invoices Listing for Poland
- JPK Sales and Purchase Registers for Poland
The feature also includes a report for the JPK Sales and Purchase Register information in PDF format:
- Sales and Purchase VAT Register for Poland
Print Commercial Documents for Poland
VAT Invoices and Correction VAT Invoices are legal documents in Poland. Use this feature to print transactions in Draft or Final mode using templates assigned at Document Fiscal Classification or Receivables Transaction Type level. After a document is printed in Final mode, you may reprint the document as a Duplicate.
The feature is delivered with the following layouts:
- VAT Invoice
- Correction VAT Invoice
You can now use the Tax Point Date Adjustment feature in Poland to change the tax point date of a Payables or Receivables transaction, and report the transaction in a period different from the one initially defined by your tax configuration.
This document will continue to evolve as existing sections change and new information is added. All updates appear in the following table:
| Date | Feature | Notes |
|---|---|---|
| 11 AUG 2017 | Created initial document. |
This guide outlines the information you need to know about new or improved functionality in this update.
Disclaimer
The Information contained in this document may include statements about Oracle’s product development plans. Many factors can materially affect Oracle’s product development plans and the nature and timing of future product releases. Accordingly, this Information is provided to you solely for information only, is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described remains at the sole discretion of Oracle.
This information may not be incorporated into any contractual agreement with Oracle or its subsidiaries or affiliates. Oracle specifically disclaims any liability with respect to this information. Refer to the Legal Notices and Terms of Use for further information.
Collections Scoring and Strategy Assignments by Segment
Collections Scoring and Strategy Assignments by Segment allows collectors to categorize customers based on segments, such as business unit, profile class, or remaining amount due. Different scoring formulas and delinquent strategy groups can be assigned to segments. Collectors can also define predelinquency settings and assign predelinquent strategy groups to customers.
This feature provides collectors with flexibility to manage customer scoring and strategy assignments, thereby increasing collections efficiency and improving cash flow.
The One Time Payment feature facilitates seamless processing of payments for transactions imported from third-party external systems. Transactions are imported from external systems into Payables as payment requests using a predefined File-Based Data Import (FBDI) template. These transactions can then be approved before payments are made. For electronic payments, payee and bank account information is automatically created during the import process, eliminating the need for manual intervention.
Ability to Launch Simplified Customer Upload via Web Service
The ERP Integration service can now be used to run the Simplified Customer Upload process, automating the synchronization of customers from external source systems.
New Web Service Operations to Apply an Existing Receipt to Transactions
The Receivables Standard Receipt web service allows users to apply existing receipts to transactions from any external source using the Simple Object Access Protocol (SOAP). Use the relevant attributes available within the Receivables Standard Receipt Application Service Data Object (SDO) to identify existing receipts and apply them to transactions.
Oracle Transactional Business Intelligence Reporting - Subject Areas for Customer Contracts, Performance Obligations and Revenue
Oracle Transactional Business Intelligence Reporting - Subject Areas for Customer Contracts, Performance Obligations and Revenue enable you to support your organization’s immediate reporting needs with respect to the IFRS 15 and ASC 606 accounting standards pertaining to Revenue from Contracts with Customers.
The following two new subject areas enable you to gain complete insight into your accounting contracts:
- Customer Contracts Real Time subject area:
- Analyze accounting contracts, performance obligations, and promised details, including standalone selling prices, allocated revenue amounts, billed amounts, revenue recognized, satisfaction plans, and related accounting along with integrated source document data.
- Standalone Selling Price Real Time subject area:
- Analyze estimated and observed standalone selling prices for item groups, items, or memo lines by pricing dimension, item classification, and effective period. The subject area contains uploaded and system observed standalone selling prices.
District Tax Content Upload Support in ERP Cloud for Tax Partners
Within the United States, transaction taxes can be imposed based on a combination of counties, cities, and postal codes, as well as on unique tax districts. By leveraging the Tax Rapid Implementation feature, third-party tax partners can automatically load a high volume of district tax zones and taxes using spreadsheets for both initial creation and ongoing maintenance of Oracle ERP Cloud.
INDIA GST ENABLEMENT INFRASTRUCTURE
As India introduces the destination-based Goods and Services Tax (GST), the biggest indirect tax reform impacting a wide range of businesses, ERP Cloud for India offers a key solution to address the GST requirements.
Users can now configure different components of GST, including CGST (Central Taxes), SGST (State Tax), and IGST (Inter-State Tax), for both Procure-to-Pay and Order-to-Cash transactions using this strategic infrastructure. The following features are provided to help businesses achieve reporting and compliance goals:
- Supports reverse charge processing for standard invoices and prepayments.
- Provides flexibility to configure setups and process transactions based on multiple attributes, including classification of goods and services, classification of first and third party as exporter or importer, place of supply rules, tax exemption, tax rates, tax accounting, and so on.
WITHHOLDING PROCESSING AND REPORTING ENHANCEMENTS FOR INDIA
This feature provides the ability to process a multitude of withholding transactions to meet business requirements. Transactions can be processed based on multiple factors including thresholds, tax on tax, and withholding buckets by tax registration numbers.
Transactional Business Intelligence for Financials
Additional Descriptive Flexfields for Financials OTBI Subject Areas
- Customer Account and party related descriptive flexfields are added to the Receivables subject areas. New flexfields include: Receivables Transaction, Region Information, Customer Profile Regional Information, Customer Account Relationship, Customer Account Site, Customer Account Site Use, Location,Organization, Organization Contact, Source System Reference, Party Site, and Customer Account Contact Role.
- Asset descriptive flexfields are added to the Assets subject areas. New flexfields include: Added Asset Category Book Default, Asset Additions Regional Information, Asset Category Regional Information, Fixed Asset Invoices Regional Information, Fixed Asset Book Controls Regional Information, Fixed Asset Books Regional Information, and Fixed Asset Transaction Headers Regional Information.
- Intercompany transaction type and intercompany organization descriptive flexfields are added to the Intercompany Transaction subject areas.
- Legal Entity flexfields are added in Receivables, Payables, Cash Management, Revenue Management, and Expenses subject areas.
- Supplier and Supplier Sites descriptive flexfields are added to all Financial subject areas that have the Supplier dimension.
OTBI Subject Area Usability Enhancements
- The General Ledger - Balances subject area has been enhanced to include Fiscal Calendar Name in the prompt list of values.
- Currency display names have been added to all Financials subject areas where currency code is used.
- Source Budget Name has been added to Budget Control - Balance Real Time subject area.
- Receivable Interface flexfield attributes have been added to the transaction header and line additional information folders in the Receivable - Transactions Real Time subject area.
- Three sets of Asset Active Indicators have been added to the Fixed Asset Transaction and Depreciation subject areas to identify the active assets from asset history. The active indicators are based on asset book, asset history, and asset distribution history.
- Supporting reference display names have been added to the Subledger Accounting - Supporting Reference Balances Real Time subject area.
Accounting Segment Level Descriptions in General Ledger – Balances Subject Area
The General Ledger – Balances subject area has been enhanced to include segment level descriptions for the Balancing Segment, Cost Center Segment, and Natural Account Segment hierarchies.
Clearing Account Reconciliation Information in General Ledger and Subledger Accounting Journals Subject Areas
Clearing Account Reconciliation attributes have been added to the General Ledger - Journals Real Time and Subledger Accounting - Journals Real Time subject areas.
Reconciliation Reference, Group, Status and Date are also added to GL Journal Details dimension folder.
Additional Purchase Order Information for Payable Invoice Transactions, Prepayment Applications and Invoice Holds Subject Areas
Additional purchase order information has been added to the Payable Invoice Transactions, Prepayment Applications, and Invoice Holds subject areas. Information includes purchase requestor, buyer, requisition, order last update and order line RCV transaction details.
Multi-Period Accrual Accounting Information in Payables Subject Areas
Multi-period accrual accounting information has been added in Payable Invoices Hold, Payable Invoices Transaction, and Payable Invoices Prepayment Application subject areas. This provides reporting on multi-period payable accrual accounting segments and accrual accounting dates.
GL Journal Details in the Subledger Accounting - Journals Subject Area
A GL Journal Detail folder has been added to the Subledger Accounting - Journals subject area. This folder includes associated General Ledger journal details such as journal name, journal batch name, posting date, posting status, accounting sequence, journal header identifier, and journal line number.
This document will continue to evolve as existing sections change and new information is added. All updates appear in the following table:
| Date | Feature | Notes |
|---|---|---|
| 20 AUG 2018 | Ability to Settle Tokenized Credit Card Transactions from Third-Party System |
Removed from update 17B. |
| 07 APR 2017 | Created initial document. |
This guide outlines the information you need to know about new or improved functionality in this update.
Disclaimer
The Information contained in this document may include statements about Oracle’s product development plans. Many factors can materially affect Oracle’s product development plans and the nature and timing of future product releases. Accordingly, this Information is provided to you solely for information only, is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described remains at the sole discretion of Oracle.
This information may not be incorporated into any contractual agreement with Oracle or its subsidiaries or affiliates. Oracle specifically disclaims any liability with respect to this information. Refer to the Legal Notices and Terms of Use for further information.
Common Technologies and User Experience
This section gives an overview of common features available in Release 13. These are the overall investments in technology and user experience that Oracle has focused on in this release.
Enhanced Integration Between Financials Cloud and EPM
The current integration between Financials Cloud and EPM Cloud applications has been enhanced to provide a more seamless integration experience. The updated integration allows users to pick the desired source ledger from Financials Cloud, set up a few simple mappings, and then push a button to bring the data into EPM Cloud applications.
Set up simple mapping between the Planning application and Financials Cloud General Ledger to write back Budgets from Planning to Financials Cloud.
This integration, which can be run manually or scheduled for a specific time, no longer requires manual steps in Financials Cloud and EPM Cloud. The updated integration also sets up the drill definition automatically, which eliminates errors that may be caused when manually defining a drill definition.
Security is integrated between EPM and ERP to allow the same user to access information across these applications without separate sign on.
The ERP Object Attachment Service supports automatic upload of attachments to Oracle ERP Cloud and associates attachments to a particular business entity or collection of business entities. Attachments are used to supplement and provide key additional information to enhance daily business operations and better track financial activities or events.
The ERP Object Attachment Service is secured through Oracle Web Service Manager (OWSM).
Inbound and Outbound Data File Encryption Using ERP Integration Service
Since inbound or outbound data files are transmitted over the internet and often contain sensitive information and financial transactions like journal entries, invoices, payments and bank records, data encryption is a critical and essential element in implementing integrations with Oracle ERP Cloud. ERP Cloud Integration Service secures data files across Oracle ERP Cloud, On-Premise, or PaaS applications while supporting 100+ interfaces across Financials, Project Portfolio Management, Procurement and Supply Chain Management.
The ERP Cloud Integration Service provides the ability to protect both inbound and outbound data files, in addition to SSL and Oracle Web Service Manager (OWSM) message protection policy over the internet.
Who columns are added in Payables Invoices and Expense Transactions OTBI subject areas to better support audit reporting. Users can now report on Created By, Last Updated By, Creation Date, and Last Update Date for all entities in Financials.
Oracle Financials Cloud offers an integrated financial management suite that is designed to automate, streamline, and manage financial processes end-to-end. It simplifies controls, increases productivity, and improves business decisions through a broad suite of capabilities around general ledger, accounts payable, accounts receivable, fixed assets, expenses, collections, bill management, and cash management, as well as centralized accounting, tax, payment, and intercompany engines.
Display On-Account and Unapplied Receipts in the Transactions View
The Transactions tab on the delinquent customer details page is now enhanced to display on-account and unapplied receipts together with other types of transactions. This feature increases collector efficiency and visibility through a more holistic view of delinquent customers.
Alias Support for Key Flexfields in Assets
Reduce data errors and improve usability of asset flexfields by using aliases for asset key flexfield combinations, such as asset physical locations or asset categories. For example, you can create an alias named 'HQ' to represent the physical location of your company's headquarters.
Use the asset lease feature to:
- Manage your finance and operating leases, comply with ASC 842 and IFRS 16 by creating right-of-use assets and lease liability, and handle the appropriate accounting.
- Calculate periodic depreciation expense and interest expense for finance lease assets.
- Calculate periodic lease expense for operating lease assets.
- Generate and transfer invoices for periodic lease payments to Payables.
- Terminate an asset lease or any of its right-of-use assets after reviewing its impact on the liability balance.
- Change material details, such as lease term duration, payment schedule changes after reviewing its impact on the liability balance, or both.
Automatically Derive Depreciation Expense for Assets
When you select the Prepare Additions Automatically action from the Assets page, an asset's depreciation expense account will now be derived using the Subledger Accounting Transaction Account Builder.
Payables Invoice Details During Asset Conversions
Payables invoice details are now available when converting legacy assets when using file-based data import or spreadsheet templates.
Redesigned OTBI Subject Areas for Assets
The Assets OTBI architecture is now simplified to just two subject areas:
- Transactions
- Depreciation
The intuitive reorganization of all of the attributes allows both exhaustive and more rapid ad hoc reporting.
Spreadsheet-Based Mass Detail Changes for Assets
You can now store up-to-date asset descriptive details using a file-based data import template. For example, you can update descriptive details such as the manufacturer and tag number in bulk.
Oracle Bill Management Cloud is an electronic bill presentment solution that allows organizations to reduce the cost of billing and collections, while improving the overall customer service. Bill Management is an enterprise management solution for business-to-business and business-to-consumer relationships. The solution provides self-service customer led bill management process through an easy-to-use mobile enabled user experience with real time account review, dispute monitoring, and online payments that are instantly reflected on the customer account. The resulting business process efficiency improvements increase customer satisfaction and deliver cost reductions by streamlining the overall accounts receivable operations.
Key features of Bill Management allow your customers to:
- Analyze open and closed transactions
- Download transactions
- Manage payment options
- Monitor disputes
Budgetary Control Year-End Carry Forward
Easily identify surplus funds and purchase orders to carry forward to the next budget cycle using the following Budgetary Control Carry Forward set of processes:
- Carry Forward Purchase Order Budgetary Control Balances process to identify open purchase orders with surplus funds for a given budget cycle and carry them forward to the next budget cycle.
- Carry Forward Funds Available process to carry forward unused budget amounts to the next budget cycle.
Enhanced Budgetary Control Processing and Reporting
The new Budgetary Control enhancements to budgeting, reporting, and product integration enable you to:
- Enforce budget consumption controls by specifying whether budgetary control validation occurs on the submission or approval of requisitions or purchase orders.
- Easily override insufficient funds for requisitions and purchase orders.
- Automate the creation of control budgets at the award and funding source levels, and integrate awards throughout the procure-to-pay flow.
- Implement budget management controls and encumbrance accounting in Oracle Self-Service Procurement through to Oracle Inventory Management, for internal transfers that are delivered to expense locations.
- Enhance budget balance inquiry and reporting by capturing comments and additional information if needed in user-extensible fields at both the line item level on the Review Budget Balances page, and during budget import and budget adjustments.
- Expand OTBI budgetary control reporting using the new Budgetary Control - Balances Real Time subject area, and the new requisition, purchase order, payables, and manual journal attributes in the Budgetary Control - Transactions Real Time subject area.
Enhanced Attributes for Budget Control - Transactions Real Time Subject Area
New attributes are added to the Budgetary Control - Transactions Real Time subject area to enhance reporting on source transactions. The enhancements include new attributes for requisition header, requisition lines, requisition project information and requisition distribution amounts; purchase order headcount, lines, distribution amounts; payable invoice distribution information; and manual journals.
New Budgetary Control - Balances Real Time Subject Area
A new Budgetary Control - Balances Real Time subject area is available to report budget balances. Users can report on budget, consumption, reservation category, available fund balances and control budget details.
Enhanced Attributes for Budgetary Control - Transactions Real Time Subject Area
New attributes are added to the Budgetary Control - Transactions Real Time subject area to enhance reporting on source transactions. The enhancements include new attributes for requisition header, requisition lines, requisition project information and requisition distribution amounts; purchase order headcount, lines, distribution amounts; payable invoice distribution information; and manual journals.
Enhanced Bank Statement Handling and Reconciliation Features
Increase productivity and improve efficiency using enhanced bank statement handling and reconciliation features, such as importing non-standard bank statement formats more easily using new Excel spreadsheet upload capabilities. Access complete bank statement file information and attach documents and image files as desired, and automatically create cash transactions directly from GL journal entries. Reconcile using expanded support for dynamic flexfields, and enjoy improvements to manual reconciliation, bank transfer, and ad hoc payment capabilities.
Improve operational insight with extended cash forecasts for any number of days/weeks/months/years by customizing your Smart View Wizards.
Treasury Management Integration
Integrate your Treasury with your ERP operations through Oracle's partnership with the leading Cloud Treasury applications--Reval.com
Improved Controls for Expedited Expense Reimbursement
Expedite expense reimbursements with improved process controls and enhanced auditor capabilities. Configure Expenses to display business unit-specific policy links, restrict expense account allocation to cost centers during expenses entry, and prevent selection of tax rate codes while capturing applicable tax-related merchant details. Provide seamless expense reporting experience for globally mobilized employees and new hires. Additionally, perform the following actions as an auditor:
- Add attachments to expense reports and cash advances in any status.
- Automatically populate receipt package check-in date.
- View inactive employee status in expense reports and cash advances.
- Audit any short paid or rejected expense reports and expense reports pending auditor approval within assigned business units.
- Return expense reports after audit completion.
Enhance usability and improve efficiency of your workforce with Mobile Expenses. Expenses mobile application now enables the following capabilities:
- Manually itemizes cash expenses and corporate card expenses and uploads or submits them in an expense report.
- Enables reviewing PDF and Microsoft Word documents while approving expense reports on Android devices.
- Allows contingent workers to enter expenses and submit expense reports from their mobile devices.
- Controls image size of the documents attached to expense items and expense reports.
Remittance Advice and Tokenization with Corporate Card Processing
Gain operational efficiency and control with the following corporate card enhancements:
- Support for Global Remittance Utility from American Express with tokenized GL1025 corporate card transaction files.
- Support for tokenized Visa VCF files.
- PGP encryption for Visa and MasterCard files.
- Optional disablement of the Merchant field update on corporate card transactions.
Enhanced Compliance with Entertainment Policies
Entertainment and gift polices enable companies to comply with government regulations and maintain transparency. Define limits for employee attendees, restrict selection of non-employee attendees from a predefined list, mandate attendance of at least one employee and one non-employee as attendees, add attendees to itemized expenses, and control data entry requirements with new entertainment policy enhancements.
Clearing Accounts Reconciliation
Clearing accounts reconciliation offers sophisticated automatic and manual methods to group, match and reconcile related 'in' and 'out' journal lines that no longer contribute to an account ending balance. Resources can instead be deployed wisely towards analyzing unreconciled journal lines that are both relevant and responsible for the buildup of the ending balance in a clearing account. Clearing accounts reconciliation helps to shorten the period close cycle where account reconciliations are critical activities.
In one central setup location, define reconciliation types that represent reconcilable clearing accounts (for example, asset clearing, accounts payable accrual, unbilled receivables) and their associated reconciliation rules. Enter journal lines with reconciliation references to automatically reconcile with minimal user intervention and enhanced productivity. Use tolerances when performing manual reconciliation, to further enhance the success rate of journal lines getting reconciled. Correct previous reconciliations by subsequently reversing them. Run reconciliation reports and perform inquiries to retrieve and analyze reconciled and unreconciled journal lines.
Enhanced error reporting of journal posting issues helps users resolve issues quickly and independently.
- Ability to search for journals with errors on the Manage Journals user interface.
- Comprehensive and improved posting execution report.
- Intuitive error messages.
The General Ledger journal and account analysis reports list journal entries and account balances. In Release 13, the following benefits have been added:
- Enhanced report extracts to include reconciliation information for clearing accounts.
- BIP templates can be customized to list the clearing account reconciliation details.
You can now defer the recognition of expense or expenses incurred across multiple GL accounting periods. The feature requires the start date, end date, and the accrual account.
There is now an additional check for duplicate invoices during invoice creation. This check is based on a combination of supplier, invoices type, amount, currency, and date.
You can now generate an aging report on a suppliers balance based on a specific date. The Supplier Balance Aging report only considers the invoices that are accounted in Payables and transferred to the General Ledger. These balances will reconcile with the trial balance report.
Ability to Unapply Standard Credit Memos from Invoices
Use the Unapply Standard Credit Memo feature to update and maintain accurate customer balances by unapplying standard credit memos from invoices and turning them into on-account credit memos.
Credit Management provides the information and tools to monitor and evaluate the credit worthiness of customers and make informed credit decisions. With a wealth of timely internal and external data, balance growth with financial stability by tailoring credit policies to business needs and market conditions. As part of the Oracle Financials Cloud Credit-to-Cash solution, the Credit Management feature helps to improve cash flow, increase billing efficiency, optimize customer relationships, and instill corporate and fiscal discipline.
This feature provides rich and easy-to-use credit management capabilities in the following four areas:
- Comprehensive credit profiles and policies.
- Streamlined credit review process.
- Effective management of credit review lifecycle.
- Flexible scoring models and third-party integration.
The Create Customer Statements process now offers both printable statements and automatic e-mail delivery of statements to customers. Enable a customer account or site profile for statement delivery using e-mail and configure outbound e-mail parameters, including sender name and address, reply-to address, and e-mail subject and body text. Once submitted, monitor the delivery status of customer statements and resend e-mails as necessary.
Assign Items Automatically to Standalone Selling Price Profiles
You can now assign items to your standalone selling price profile and upload standalone selling price values in one step using the Create Standalone Selling Prices spreadsheet:
- Review default data from the standalone selling price profile, such as the effective period and pricing dimensions.
- Add the required item assignments and their standalone selling prices to the spreadsheet.
- Upload the spreadsheet into Revenue Management.
Contract Revision Classification - Revision Intent Type
The ASC 606 and IFRS 15 accounting standard require entities to distinguish between revisions to contract data that reflect estimation accounting and those that reflect true contract modifications, because the standards' disclosure requirements require the entity to make specific disclosures on contract modifications. In other words, entities must distinguish between these two categories of revision:
- Variable Consideration Estimation Correction also referred to as 'Estimate Correction'. Estimate Corrections are due to contract updates where the organization made an estimate at inception for terms such as price, quantity or contingency clauses so that they could accrue the performance obligation, and are now truing up that initial estimate.
- Contract Modification. Contract Modification is a contract update where the organization and their customer agreed to a change in the scope or price of the contract, such as purchasing additional goods or services not originally agreed.
In support of the reporting requirement, Revenue Management has introduced the Revision Intent Type. Revision Intent Type provides the ability to capture the intent from upstream source systems or automatically defaulting a revision classification assignment when processing contract revisions or manually assigning the classification using the Manage Customer Contract's User Interface.
Integrate Data from Enterprise Contracts and Project Billing
Integrate contract data from Enterprise Contracts and Project Billing into Revenue Management Cloud Services.
Contract lines from Enterprise Contracts and Project Billing are interfaced to Revenue Management to ensure that accounting contracts are identified, allocated and revenue is correctly recognized for each performance obligation in an accounting contract.
Revenue Management generates the revenue, contract asset, and contract liability accounting entries to enable you to ensure compliance with IFRS 15 and ASC 606.
Process Historical Data from Oracle EBS and Oracle Cloud
You can import historical data from Oracle E-Business Suite and Oracle Enterprise Resource Planning (ERP) Cloud into Revenue Management Cloud to support iterative modeling during the transition period.
You can import historical revenue basis and billing source data that was created on or after 01 Jan 2014.
During the transition period you can integrate the historical source document data into Revenue Management to use for iterative modeling and comparative analysis. This helps ensure that accounting contracts are properly created, valued, and allocated, and that the appropriate accounting entries are generated.
Revenue Management uses the historical billing data to generate the conditional accounting that reduces balances for contract liabilities, contract assets, and contract discount liabilities.
Revenue Management imports all subsequent contract revisions that are applied to the historical data in Oracle E-Business Suite and Oracle ERP Cloud.
Revenue Basis Data and Billing Data Import Template Improvements
The column descriptions in the Revenue Basis Data Import and Billing Data Import File-Based Data Import (FBDI) templates have been improved to help you enter the correct information that is required for each data column.
Reference Information for Contracts and Obligations
Revenue Management provides the ability to automatically populate the Reference with attributes used by the identification rule used to create the customer contract or performance obligation.
Revenue Contract Account Activities Report - Output Option
The Revenue Contract Account Activities Report provides contract and performance obligation account balance activity to support analysis and audit process.
In addition to the existing default spreadsheet format, the flat file report format output option has been added to assist in the handling of larger result record volumes.
View Discarded Customer Contracts
The Discard Customer Contracts program provides users with the ability to dismantle already identified customer contracts.
Users can view the 'Discarded' contracts in the Manage Customer Contracts User Interface, in a read-only format.
Subledger account analysis and journal reports list accounting entries from subledgers and those directly created in or imported to general ledger. In Release 13, the following benefits have been added:
- Report extracts have been enhanced to include reconciliation information for clearing accounts.
- BIP templates can be customized to list the clearing account reconciliation details.
Usability Enhancements for Subledger Accounting - Journals Real Time Subject Area
New dimension folders are added for Sequences and Supporting Reference to report supporting documents and supporting reference balances. To simplify the subject area, code columns, such as balance type code and fund status code, are hidden in the subject area. Instead customers can use related description columns for these code columns for reporting. Any existing reports that use these hidden code columns will continue to function. These description columns have Double Column feature enabled that automatically supports multi-language translation in string filtering.
Export Accounting Entry View in Spreadsheet
The enhanced view of accounting entry in the spreadsheet now displays attributes as separate columns for enabling further analysis on the exported information.
Enhanced Support for Tax Partner Integration
Oracle ERP Cloud offers tax partner integration flows to streamline the entire tax compliance function. Use tax partner integration services to create and update geographies, tax jurisdictions, tax rates, and taxability rules for products and services. Use integrated Tax Partner Reporting Services to generate “Signature Ready” returns for US Sales and Use Tax filings. For advanced compliance needs, leverage Tax Partner Calculation Services seamlessly integrated with ERP Cloud.
The Tax Box Allocation and Reporting feature allows you to report on tax and taxable amounts under tax boxes. In Release 13, Tax Box Allocations feature offers the following benefits:
- The Tax Box Return Preparation Report is enhanced to support annual tax box allocation reporting.
- Report Periodicity parameter offers two options to print the reports: periodic allocation and annual allocation. Based on the selected value, you can print the cumulative annual tax allocation amounts, or periodic tax allocation amounts. A new parameter Tax Calendar Year is introduced to support annual allocations.
- A new parameter, Summarization Level, lets you list the tax allocations in summary, detail, or both detail and summary format.
Regional and Country-Specific Features
Oracle Financials Cloud provides features that integrate with your procure-to-pay and credit-to-cash business flows to support regional and country-specific statutory and business requirements.
Financials for Regional Localizations
Exchange Rate Difference Invoices
Use the Exchange Rate Difference Invoices solution to:
- Calculate the gain/loss due to the exchange rate difference. This difference occurs because of the exchange rate fluctuation between invoice creation date and the actual payment accounting date for foreign currency business transactions. Exchange rate difference gain/loss is subject to VAT in some countries like Turkey.
- Create the exchange rate difference invoices, credit memos, and journals.
- Generate a report to review the processed exchange rate difference documents.
Document Numbering for Argentina
Comply with document numbering requirements enforced by the fiscal authorities in Argentina by using predefined rules and transaction information to automatically assign document numbers to sales transactions.
Withholding Taxes for Argentina
Calculate withholding taxes for your payments in Argentina using enhanced options to:
- Manage and apply tax thresholds.
- Apply a tax rate schedule based on an item or service classification.
- Calculate taxes based on two or more provinces on a single invoice line if a supplier is subject to a multilateral agreement in those provinces.
- Determine the tax basis on full invoice amounts upon the first partial payment of an invoice.
Transaction Tax Reporting for Argentina
Configure and generate statutory and business transaction tax reports required for compliance with fiscal and tax authorities in Argentina.
Comply with accounting and reporting requirements specified under the Public Digital Bookkeeping System (SPED) in Brazil. Configure both accounting and user-defined report layouts. Ensure that output is generated with the correct content and in the required digitalized format to create reportable files.
Transmit monthly and annual reports to SPED through the Validation and Signature Program and post them on the Federal Revenue Services site.
Order-to-cash enhancements for Brazil ensure compliance with local business practices and government regulations for your order-to-cash transactions.
SALES INVOICING AND CUSTOMER RECEIPTS ENHANCEMENTS
Comply with common, accepted business practices in Brazil by automatically generating and transmitting collection documents electronically to banks for collecting payments due from customers. Improve efficiency by automatically processing receipt files from banks for the associated collection documents. Automatically include taxes and short payments on collection documents submitted for receivables. Use city-specific calendars to identify local holidays and ensure due dates are accurately assigned, and late payment interest is correctly calculated and included in collection documents for bank transfers.
FISCAL DOCUMENT GENERATION AND MANAGEMENT
Comply with federal and local fiscal authority legal requirements for fiscal document generation, transmission and approval of sales, return shipments to vendors, and internal transfers of goods or assets between legal entities incorporated in Brazil.
Fiscal document generation features allow you to capture required information when you create invoices for transactions and then accurately and automatically generate document numbers and extract correctly formatted information for submission to partners to obtain tax authority approval of fiscal documents. Generate the required fiscal document for shipments due to internal material transfers and returns to vendors. Streamline processing when changes occur, and control updates during transaction processing for easy import approvals of supplier changes.
Procure-to-pay enhancements for Brazil provide the ability to manage your procure-to-pay transactions and comply with local business practices and government regulations. Use the following new features to manage your procurement activities and pay suppliers.
TRANSACTION TAX PROCESSING SUPPORT FOR INBOUND FISCAL DOCUMENT CAPTURE
Fiscal Document Capture (FDC) is a new product that supports the processing of fiscal documents received from suppliers for purchases made by companies operating in Brazil. Use the integration between Fiscal Document Capture and Tax to capture, calculate, verify and process taxes associated with inbound fiscal documents received from your suppliers.
Use Fiscal Document Capture to manage transactions with suppliers. The fiscal document is pre-authorized by tax authorities before it is sent to a customer with the purchased goods, and remains the source of truth for all legal reporting purposes. As a receiving party, use Fiscal Document Capture to record and validate the transaction details, create corresponding receipts when required, and register liability against the supplier through the Payables invoice.
PROCESS AND MANAGE SUPPLIER PAYMENTS
Manage collection documents received from a supplier and associated with an invoice or payment schedule in order to pay invoices or installments. If any invoices are paid late, interest is calculated and added to the invoice amount according to the agreed terms between the seller and the buyer and in compliance with the locally legislated business calendar. Use the following features to record a manual collection document or import an electronic collection document and associate the collection document with one or more invoices or installments:
- Enter or import collection documents and automatically or manually assign collection documents to invoices or installment schedules.
- Automatically place holds on invoices or installments without an assigned collection document and automatically release holds after assignment.
- Calculate and pay interest for late payments based upon predefined rules with suppliers that govern penalties, grace periods and interest calculation methods. Use local business calendars to determine the number of days in interest calculations.
- Process payments by banks using electronic files and use the Manual Bank Return and Import Bank Return process to identify and process rejected payments, corrections and maintain invoice associations.
Taxpayer ID and Tax Registration Validation for Brazil
Configure and apply validation rules for verifying taxpayer identification numbers and tax registrations in Brazil, for accurate tax calculations and reporting compliance. Ensure that taxpayer identification numbers and tax registration numbers comply with standard formats, structures, and setup rules to avoid duplication.
Improve efficiency and automatically handle transaction taxes, including tax exceptions enforced by the federal, state, and local tax authorities in Brazil. Transaction tax features for Brazil calculate taxes on sales invoices and documents using a configurable, rules-based solution.
Improve efficiency and automatically handle withholding taxes, including tax exceptions enforced by the federal, state, and local tax authorities in Brazil. Withholding taxes are calculated using a configurable, rules-based solution.
Transaction Tax Reporting for Chile
Configure and generate transaction tax reports to comply with regulatory reporting requirements.
Transaction Tax Reporting for Colombia
Configure and generate statutory and business transaction tax reports required for compliance with fiscal and tax authorities in Colombia.
Withholding Taxes for Colombia
Comply with withholding tax requirements using enhanced options for calculating withholding on VAT.
Enhanced Depreciation Methods for Japan Tax Reforms
The 2007 Tax Reforms were published by the Ministry of Finance in Japan on 30 March 2007. The new depreciation rules increase depreciation expenses by abolishing the salvage value and increasing the depreciation limit on assets with the following new depreciation methods:
- Flat-rate JP-STL XXYR
- Flat-rate JP-DB XXYR
- Formula-based JP-250DB XX
- Formula-based JP-200DB XX
There is also a new depreciation method, JP-STL-EXTND, which extends depreciation for assets acquired before 1 April 2007.
Fixed Assets Reports for Japan
You can now use the following Assets tax reports for Japan to help you to comply with asset tax reporting:
- Assets Tax Summary Report for Japan
- Japanese Detail by Asset Type for Japan (Asset Additions Report and All Assets Report). This report is available in 132- and 180-character formats.
- Japanese Detail by Asset Type for Japan (Decrease Assets Report)
"What If Analysis" Improvements for Japan Tax Reforms
You can now run what-if depreciation analysis using any of the new depreciation methods described in the 2007 Tax Reforms for Japan.
VAT Processing and Reporting for Korea
Use the following reports for Korea to comply with tax authority requirements for reporting VAT and invoicing information:
- Tax Invoice Summary by Customer
- Tax Invoice Summary by Supplier
- Tax Summary by Customer Electronic Media Report
- Tax Summary by Supplier Electronic Media Report
- Exempt Tax Invoice by Supplier
- Exempt Tax Invoice by Customer
- VAT Tax Report (AR Tax Invoice or Tax Invoice for Output Transactions)
Withholding Tax Processing and Reporting for Korea
Use withholding tax reports for Korea to meet requirements for reporting:
- Payments made to professional services suppliers.
- Applicable resident withholding surcharges.
The Korean withholding tax system necessitates reporting of additional information using the following report formats:
- Resident Business Income Withholding Form for Korea
- Resident General Income Withholding Form for Korea
- Non-Resident General Income Withholding Form for Korea
- Resident Business Income Withholding Tape for Korea
- Resident General Income Withholding Tape for Korea
- Non-Resident Business and General Income Withholding Tape for Korea
- Withholding Tax List Summary
The Audit Report for France (Fichier d'Ecritures Comptables) now includes the reconciliation group and date of the reconciled journals, related to General Ledger clearing accounts, if these are configured.
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