Oracle R12 Enhancements Check Sheet

Oracle R12 Enhancements Cheat Sheet

Contents 1 Oracle R12 Financials - Upgrade Cheat Sheet 2 OVERALL 2.1 MULTI-ORG ACCESS 2.2 CASH MANAGEMENT 2.3 ORACLE GENERAL LEDGER 2.4 ORACLE ASSETS 2.5 ORACLE iRECEIVABLES 2.6 ORACLE SUBLEDGER ACCOUNTING (SLAM) 2.7 ORACLE PAYABLES 2.8 ORACLE RECEIVABLES 2.9 ORACLE ADVANCED GLOBAL INTERCOMPANY SYSTEM (AGIS) 2.10 ORACLE E-BUSINESS TAX (EB TAX) 2.11 ORACLE ADVANCED COLLECTIONS 2.12 ORACLE PAYMENTS 2.13 ORACLE RECEIVABLES Oracle R12 Financials - Upgrade Cheat Sheet OVERALL • Rationalized sub ledger book keeping • Generalized Transaction Tax Compliance • User access to multiple operating units is called ‘Multi-Org Access Control’ (MOAC). • The new subledger accounting architecture is described in the Subledger Accounting (SLA) section MULTI-ORG ACCESS • ‘Multi-Org Access Control’ (MOAC): Enables access to multiple Operating unit from without changing responsibility. • Multi-Org Security Profile Preferences: Defines the list of operating units to which a user has access. •   User may set up Preferences to limit the operating units available to him during transaction processing • Enhanced Multi-Org Reporting: Users are able to run reports using two levels i.e. Ledger and Operating Unit • Multi-Org Integration with Accounting Setup Manager: The Accounting Setup Manager is a central location to define your accounting related setup across all financial applications. CASH MANAGEMENT • Bank Account Model: New model provides a single access point for defining and managing internal bank accounts for AP, AR, Oracle Payroll, Oracle Cash Management and Oracle Treasury. •   Each bank account is associated with a Bank and Bank Branch defined in Oracle’s common Trading Community Architecture (TCA). • Multi Org Access Control (MOAC) enabled. • Subledger Accounting: available for setting up accounting rules and for generating journal entries related to Cash Management transactions. • Bank Account Balances and Interest Calculation: New Bank account balance types are supported for all internal bank accounts. Users are able to track closing ledger and available balances as well as month-to-date and year-to-date averages. • Bank Account Transfers: Earlier available in Treasury only. • Cash Pooling: Earlier available in Treasury only. • Bank Statement Accounting: Allows users to define mapping rules that can automatically create and reconcile transactions in Oracle Cash Management based on reported prior-day bank statement lines. Was available in Treasury. • Bank Account Signing Authorities: Users are able to indicate single and joint signing limits for each bank account as well as signer group categories, effective dates, approval status, and other relevant information. Was available in Treasury. • Cash Positioning Intra-day Activities: Provides additional flexibility in how users view intra-day bank statement activity in their cash positions. Was available in Treasury. ORACLE GENERAL LEDGER • Simultaneous Accounting for Multiple Reporting Rqmts: Enables define your legal entities and the setup needed to address each accounting and reporting requirement using the Accounting Setup Manager. • Centralized Accounting Setup: The Accounting Setup Manager is a central location to define your accounting-related setup across all financial applications. • Enhanced Reporting Currency Functionality: Enhanced to support all journal sources. • Improved Processing Efficiency: •   Simultaneous Data Access to Multiple Legal Entities and Ledgers •   Simultaneous Opening and Closing of Periods for Multiple Ledgers •   Cross-Ledger and Foreign Currency Allocations •   Simultaneous Currency Translation of Multiple Ledgers •   Financial Reporting Across Ledgers •   Automatic Journal Copy •   Streamline Automatic Posting •   Streamline AutoReversal Criteria Setup •   Streamline Consolidation Mappings •   Replacement for Disabled Accounts • Data Security: •   Data Security across Legal Entities and Ledgers •   Management Reporting Security •   Prevent Reversal of Journals with Frozen Sources •   Prevent Reversal of Unposted Journals •   Control Accounts •   Definition and Setup Security • Auditability: •   Journal Line Reconciliation • Entered Currency Reporting and Analysis • Foreign Currency Recurring Journals • Intercompany Balancing Support for Encumbrances • New iSetup API’s: For Ledger Sets & Data Access Sets • Integration with Subledger Accounting • Intercompany feature enhanced: This is now part of Oracle Advanced Intercompany System product. • Account Analysis and Drilldown: a new web-based interface that allows you to easily review and analyze your general ledger financial data. • GL Standard Reports Integration With XML Publisher • New Terms: Ledger replaces Set of Books. A group of Ledger is called Ledger set. ORACLE ASSETS • Subledger Accounting: Seamless integration with SLAM for creating Journal Entries, Account drill down and Inquiry. • Enhanced Mass Additions Interface for Legacy Conversions: Additional attributes such as asset life, depreciation method, prorate convention; bonus rule ceiling name, depreciation limit are now available in interface. • Automatic Preparation of Mass Additions: A set of extensible public API’s is available to automatically prepare a mass addition line for all required attributes. • Enhanced functionality for Energy Industry: •   Asset Impairment: Unplanned depreciation recognized in current period expense in addition to the normal periodic depreciation expense. •   Energy Units of Production Depreciation Method. •   Energy Straight line Depreciation Method: Used for non producing assets. • Flexible Reporting using XML Publisher: Enables modification of reports. • Automatic Depreciation Rollback: Oracle Assets automatically rolls back the depreciation asset that’s adjusted (instead of the whole book) and allows the transactions to be processed normally. This asset is automatically picked up during the next depreciation run. • Enhanced Logging for Asset Transactions & Programs: Through the common logging architecture, Oracle Assets ensures a common repository for all log messages. ORACLE iRECEIVABLES • Trading Community Architecture: TCA Integrated. • Oracle Payments: Integrated with Oracle Payments. • Multi Org Access Control (MOAC) enabled. • Enhanced User Self Registration: Feature has been enhanced. • Cross Customer Site Payments: Oracle iReceivables has enhanced the payment functionality to allow the selfservice users to pay their bills and review their payments across customer sites. ORACLE SUBLEDGER ACCOUNTING (SLAM) • New Product: enables corporations to comply with corporate, local and managerial accounting and audit requirements via increased control, visibility and efficiency. • Journal Entry Setups: Gives users control over the definition of their journal entries by being able to define the following components of journal entries: •   GL Dates, Entry Descriptions, Line Descriptions, Amounts (accounted and gain/loss), Account rules can be created for either the entire account combination or for individual segments, Reconciliation References. • Date Effective Application Accounting Definitions • Multiple Accounting Representations • Summarization Options: For each Ledger by GL Date, or by GL Period. • Draft Accounting: Allows user to view and report on the accounting without saving it. • Online Accounting: Users have the ability to immediately create, view, transfer and post accounting in GL when entering transactions entering transactions into Oracle subledger applications such as AP and AR. • Replacement for Disabled Accounts: SLAM replaces the disabled account with the replacement account and continues processing without any error. • Process Category Accounting: Enables account for a limited subset of their journals using process categories. • Straight Through Accounting Processing: SLAM supports straight through processing from the subledger transaction to GL balances. • On-line inquiries: Multiple inquiries available to view Subledger accounting. • Journal Entry Sequencing: •   Accounting Sequencing when journal is completed. •   Reporting Sequencing when period is closed. • Third Party Merge Accounting: Provides ability to account for changes in third parties. • Manual Journal Entries: SLAM offers manual subledger journal entries that are within the context of an application. • Third Party Control Accounts: uses a new key accounting flexfield qualifier that allows users to specify control accounts. • Transaction Account Builder: provides a flexible mechanism to derive default accounts for transactions. • Multi-period Accounting: Users can create accrual and recognition journal entries to allocate costs over a range of accounting periods. • Accrual Reversal Accounting: Users can indicate that a journal entry should automatically be reversed on either the next day or in the next GL period. • Business Flows: Users can create accounting policies based upon both intra and inter-product business flows. • Accounted and Gain/Loss Amount Calculations: Rules can be created that determine the account used to account for gain or loss based upon whether there is a gain or a loss.  • Application Accounting Definitions (AAD) Loader: AAD enables customers to import and export application accounting definitions and journal entry setups. • Errors Accounting and Reporting: SLAM creates journals as completely as possible, even if there are conditions that make the journal invalid and stores them with an error status. These Journals and are not eligible for GL transfer and posting. Standard reports available to identify these journals. • Enhanced Reporting Currency Functionality: MRC functionality is enhanced to support all journal sources. • Diagnostics Framework: Provides a tool to view the information used to create subledger journal entries. Result reported in HTML format report. • SLAM Enhances the Functionality of the Global Accounting Engine: SLAM replaces the Global Accounting Engine. It further extends the Global Accounting Engine functionality by providing customizable accounting rules via a flexible and robust accounting rules setup. ORACLE PAYABLES • Legal Entity: New addition to the Oracle E-Business Suite that enhances the ability to manage one’s legal corporate structure and track data from the legal perspective. • Multi Org Access Control (MOAC) enabled. • Suppliers in the Trading Community Architecture (TCA): Supplier are now part of TCA like Customer. • New User Interface for Supplier Entry and Maintenance: This new user interface presents a clear distinction between the supplier’s company details and terms and controls for the trading relationship. • Supplier Bank Accounts: Enhancements to the setup of supplier bank accounts remove some processing restrictions and achieve greater control and security. • Introduction of Invoice Lines: AP incorporates Invoice Lines into the invoice model. • Invoice Processing for Contract Financing, Retainage, and Progress Terms: Complex payment terms and conditions for fixed price contracts is now captured during the procurement contract flow. • Enhanced Invoice Approval includes Line level approval • Non PO Invoices Entered via iSupplier Portal • Collaboration with Suppliers to Resolve Disputes • Oracle E-Business Disbursement Requests: Disbursement Requests are requests to make a payment to a company or individual that is not a supplier. • More Robust and Flexible Payment Processing Engine. • Accounts Receivable / Accounts Payable Netting. • Integration with Subledger Accounting. ORACLE RECEIVABLES • Partial Period Revenue Recognition: Partial Period Revenue Recognition enables the generation of revenue recognition schedules that respect the start and end dates of contractual obligations. • Revenue Deferral Reasons: Event-Based Revenue Management allows users to define revenue deferral reasons and corresponding revenue recognition events. • COGS and Revenue Matching: new COGS and Revenue Matching feature satisfies this matching principle by synchronizing the recognition of revenue with the recognition of associated COGS. • Enhanced Payment-Based Revenue Recognition: Feature achieves payment based revenue recognition by associating transaction lines with revenue impacting contingencies. • Line Level Cash Applications • Refunds Enhancements: Oracle Receivables is fully integrated with Oracle Payables to deliver a seamless, automated process to generate check and bank account transfer refunds. • Balance Forward Billing: enhanced version of the existing consolidated billing functionality for industries where customers are billed for all their account activity on a regular, cyclical basis. • Late Charges: enhanced Late Charges functionality enabling the creation of standard late charge policies that can be assigned to customer accounts or account sites. • Multi Org Access Control (MOAC) enabled. • Integration with Subledger Accounting • Receivables Reconciliation Enhancements: Easily reconcile your receivables using enhanced reporting. • Collections Workbench Obsolescence: Features moved to Oracle Advanced Collections. • Bills of Exchange Obsolescence: The Bills of Exchange feature is obsolete and replaced by the Bills Receivable feature. • Trade Accounting Obsolescence: The Oracle Trade Accounting feature is obsolete and replaced by Oracle’s Deduction Management solution. ORACLE ADVANCED GLOBAL INTERCOMPANY SYSTEM (AGIS) • Intercompany Balancing: Intercompany and Intracompany Balancing features are updated. transaction with multiple balancing segment values is entered, the Balancing Process automatically generates the correct intracompany or intercompany accounting entries. • Intercompany Invoicing: automatic creation of payables and receivables invoices for intercompany transactions. • Intercompany Reconciliation: perform reconciliation between Legal Entity Relationships belonging to the same or different ledgers. • Manual Intercompany Transactions: The entry of intercompany transactions             ORACLE E-BUSINESS TAX (EB TAX) • New Product: Provides the infrastructure for transaction tax knowledge management and delivery using a global system architecture that is configurable and scalable for adding country specific tax content. • Modules Integrated with EB Tax: •   Oracle Purchasing •   Oracle Internet Procurement •   Oracle Receivables •   Consigned Inventory •   Oracle Payables •   Oracle Intercompany Invoicing •   Oracle Order Management •   Oracle Trade Management •   Oracle Services Contracts •   Oracle Order Capture/iStore/Quoting •   Oracle Internet Expenses •   Oracle Project Accounting •   Oracle General Ledger  • Configuration Options & Provider Service Subscriptions: Users using a subscription model can share the tax setup. The owner of tax setup data is defined as a Configuration Owner and can be an Operating Unit or a Legal Entity. • Events and Configuration Owner Options: Tax Events model allows E-Business Suite applications to map their various documents and actions across applications into corresponding tax event classes and tax event types. • Tax Configuration Manager: This component is responsible for creating and maintaining the structural foundation of tax, the building blocks. • Tax Determination Services: This component calculates transaction taxes based on transaction details and tax setup information. • Centralized Tax Record Repository for Audit and Reporting • Tax Reporting: Tax Reporting is flexible enough to provide data in a user-friendly format that allows the standard and identified country specific requirements to be met. • Tax Simulator: This user interface help the tax manager simulate the effect of a new rule or new ‘incremental’ setup data, such as a new tax rate. • Guided Configuration: Enables a tax manager, i.e., an expert in the domain of tax, to configure the system to meet the tax requirements in one or more countries. • Additional Enhancements: •   Deferred Tax in Payables •   Enhanced handling of Tax on Freight •   Sales and Use Tax in procurement •   Enhanced exemptions and exceptions •   Multiple Tax Registrations •   Multiple Recovery types •   Tax reporting codes •   Cash as well as Accrual Basis reporting for tax •   Enhanced handling of Tax on Intercompany Movements ORACLE ADVANCED COLLECTIONS • Multi Org Access Control: (MOAC) enabled. • Uptake of Cross-Operating Unit Initiative: Collections activities such as strategies and work items, dunning letters, and collections calls can incorporate transactional and customer data from different operating units if needed. • Consolidation of Collections Functionality into Advanced Collections: Collections Workbench in AR is obsolete. • New Implementation Checklist and Setup Screens: New implementation tool designed to ease setup and provide a single place to record and manage implementation decisions. • Improved Payment Processing and Customer Funds Capture: Seamless integration with Oracle Payments’ make payment formatting and end-to-end electronic payment processing features very efficient. • Use of Oracle Territory Management to Define Collections Territory Hierarchy. • XML Publishing Technology for Collections Correspondence. • Configurable Metrics: A new configurable Metrics tool allows managers to define metrics formulas that are automatically calculated and displayed on the Profile tab for collections users. ORACLE PAYMENTS • New Product: Highly configurable and robust engine to disburse and receive payments. • Advanced and Highly Configurable Formatting Framework: Available templates use Oracle XML Publisher. • Payment formats: •   EFT disbursements •   Printed checks •   ACH debits •   Bills Receivable remittances •   Credit Card authorizations and settlements • Flexible Validation Model: Introduces a flexible way to ensure that payment related validations are in place. • Secure Payment Data Repository: Serves as a payment data repository on top of the Trading Community Architecture (TCA) data model. • Improved Electronic Transmission Capability. • Payment Processing User Interface: new user dashboard for managing the funds disbursement process. • Enhanced Check Printing Process: Check printing process has moved from AP. Initiation of printing, recovery from printing errors, & recording of print results simple & intuitive. • Improved Remittance Advice Reporting • Improved Support for Credit Card Security Features • Improved Batch Settlement Performance: Bulk processing is now supported in the settlement interface from AR to Oracle Payments. The result is improved performance when running the automatic remittance program in Oracle Receivables. ORACLE RECEIVABLES • Partial Period Revenue Recognition: Partial Period Revenue Recognition enables the generation of revenue recognition schedules that respect the start and end dates of contractual obligations. • Revenue Deferral Reasons: Event-Based Revenue Management allows users to define revenue deferral reasons and corresponding revenue recognition events. • COGS and Revenue Matching: new COGS and Revenue Matching feature satisfies this matching principle by synchronizing the recognition of revenue with the recognition of associated COGS. • Enhanced Payment-Based Revenue Recognition: Feature achieves payment based revenue recognition by associating transaction lines with revenue impacting contingencies. • Line Level Cash Applications • Refunds Enhancements: Oracle Receivables is fully integrated with Oracle Payables to deliver a seamless, automated process to generate check and bank account transfer refunds. • Balance Forward Billing: enhanced version of the existing consolidated billing functionality for industries where customers are billed for all their account activity on a regular, cyclical basis. • Late Charges: enhanced Late Charges functionality enabling the creation of standard late charge policies that can be assigned to customer accounts or account sites. • Multi Org Access Control (MOAC) enabled. • Integration with Subledger Accounting • Receivables Reconciliation Enhancements: Easily reconcile your receivables using enhanced reporting. • Collections Workbench Obsolescence: Features moved to Oracle Advanced Collections. • Bills of Exchange Obsolescence: The Bills of Exchange feature is obsolete and replaced by the Bills Receivable feature. • Trade Accounting Obsolescence: The Oracle Trade Accounting feature is obsolete and replaced by Oracle’s Deduction Management solution.