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Oracle Modern Best Practice for Higher Education—Finance
Learn how customers have achieved significant reductions in close times with Oracle's cloud-based financial applications.
Higher Education—Period Close to Financial Reports
Modern best practice enablers of mobile, social and analytics have led to tremendous advances in your ability to close financial statements in days instead of weeks. You have the ability to control the close status by monitoring and interacting with the entire enterprise to finalize any outstanding transactions and exceptions. Cloud applications provide an easy platform to securely socialize your period close with your extended team keeping everyone involved.
Mobile. Analytics. Social.Close Subledger
Monitor institution-wide close status. Interact on and finalize outstanding subledger transactions and exceptions.
Mobile. Analytics. Social.Pro-Forma Close Ledgers
Prepare and review preliminary financial statements. Prioritize outstanding transactions based on initial results.
Mobile. Analytics. Social.Reconcile Accounts
Reconcile subledgers to general ledger, automatically matching transactions to entries.
Mobile. Analytics.Close Ledgers
Route close tasks to task owners automatically. Collaborate to streamline the close for each entity. Monitor enterprise-wide close status.
Mobile. Analytics.Consolidate Subsidiaries
Transform departmental results to the institution chart of accounts. Revalue non-monetary balances and translate to the institution currency. Eliminate inter-institution activity and minority interest.
Mobile. Analytics. Social.Review and Confirm Financial and Management Reports
Review consolidated results including encumbrance reporting, using the same reports as each department where applicable. Enter final adjustments.
Mobile. Analytics. Social.Publish and Securely Share Financial Statements
Distribute financial statements to all interested parties, leveraging collaboration to incorporate feedback.
Mobile. Analytics. Social.Update Financial Forecast
Modify forecasts and financial plans in light of the results from the just closed period.