Update 20C

Revision History

This document will continue to evolve as existing sections change and new information is added. All updates appear in the following table:

Overview

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 Technology and User Experience

Common Financials Features

Refined User Experience for Key Lists of Values Search

This update introduces an enhanced user experience for select lists of values. The change increases performance and expands the use of type ahead suggestions.

Intercompany

Delete Invalid Customer Assignments for Intercompany Organization

Intercompany accountants can use the delete option when managing customer assignments at the intercompany organization level in the Manage Intercompany Customer and Supplier Assignments page.

REST APIs for Financials

Create, Update and View Supplier Invoices with Project Information Using a REST API

Create, update, and view supplier invoices with project information using the Invoices REST API. You can capture key project information such as Project Number, Task Number, Expenditure Item Date, Expenditure Type, and Expenditure Organization on invoice lines and distributions.

Workflow for Financials

Configurable Collections Bankruptcy Workflow Notification

Use enhanced workflow notifications for Collections bankruptcy approval. You can use Oracle Business Intelligence Publisher templates to generate modern and unified look and feel email and in-application notifications. Modify templates to meet business requirements and policies.

Configurable Expenses Workflow Notifications

Use enhanced workflow notifications for expenses workflows. You can use Oracle Business Intelligence Publisher templates to generate a modern and unified look and feel for email and in-application notifications. Modify templates to meet business requirements and policies.

Configure Notification Recipients for Audit, Reimbursement, and Corporate Card Transactions for Inactive Employee Notifications

Allow administrators to configure recipients for audit and reimbursement notifications and notifications for corporate card charges for inactive employees. This enables designated employees to receive audit and reimbursement notifications on behalf of the expense owners and receive inactive employee notifications in addition to their managers.

Financials

Advanced Collections

Assign Predelinquent Strategies to Transactions

Assign predelinquent strategy tasks to applicable transactions. This feature extends the capability of assigning delinquent strategies to transactions to include predelinquent strategies. The predelinquent strategy assignment improves the collections process by focusing both predelinquent and delinquent tasks for specific customers and transactions.

Configurable Collections Bankruptcy Workflow Notification

Use enhanced workflow notifications for Collections bankruptcy approval. You can use Oracle Business Intelligence Publisher templates to generate modern and unified look and feel email and in-application notifications. Modify templates to meet business requirements and policies.

Assets

Asset Revaluation for UK Government

Enables UK central government departments to revalue fixed assets to address Modified Historical Cost Accounting requirements.

Generate Lease Payment Invoices for a Date Range

The Generate Lease Payment Invoices process now includes two new fields: From Invoice Date and To Invoice Date.

Revalue Fully Reserved Assets Without Extending the Assets Life

You can now revalue assets that are fully reserved assets without extending the assets life.

Budgetary Control

Ensure All Transactions Are Applied to a Control Budget

Budgetary control validation fails when a transaction does not apply to a control budget. The validation ensures that you cannot continue with transactions when no control budget is impacted.

Synchronize Hierarchy Maintenance Across Budgetary Control and General Ledger

Maintain account hierarchies used in both General Ledger and Budgetary Control with a single process to streamline hierarchy maintenance.

View Opt In Features in Budgetary Control and Encumbrance Accounting Enablement Diagnostic

View diagnostics for opt-in features and history of changes impacting budgetary control.

Cash Management

Exclude Reversal Journal Entries from Bank Statement Reconciliation

Streamline the bank statement reconciliation process by excluding reversals and the corresponding originating journal entries. The reversal and originating journal lines that match the bank account's cash account code combinations are removed from the bank statement reconciliation process and they are not displayed in the Cash to General Ledger Reconciliation Report.

Reconcile Zero Amount System Transactions

Reconcile zero amount transactions not reported in bank statements both manually and automatically. Set up reconciliation matching rules to reconcile zero amount transactions without a matching bank statement line using the Autoreconciliation process. Use the enhanced Manual Reconciliation process to reconcile zero amounts manually.

Expenses

Accept Terms and Agreements in Actionable Cards

Allow users to accept terms and conditions from the actionable cards when submitting expense reports from the Expenses work area.

Configurable Expenses Workflow Notifications

Use enhanced workflow notifications for expenses workflows. You can use Oracle Business Intelligence Publisher templates to generate a modern and unified look and feel for email and in-application notifications. Modify templates to meet business requirements and policies.

Configure Notification Recipients for Audit, Reimbursement, and Corporate Card Transactions for Inactive Employee Notifications

Allow administrators to configure recipients for audit and reimbursement notifications and notifications for corporate card charges for inactive employees. This enables designated employees to receive audit and reimbursement notifications on behalf of the expense owners and receive inactive employee notifications in addition to their managers.

Create Expense Items from Email Receipts

Email expense receipts to Expenses Digital Assistant to automatically create expense items from receipts. Expense items created from emailed receipts are automatically matched to corporate card charges when applicable. The application sends you a notification after the expense items are created. If configured, the application automatically submits expenses for approval.

Drill Down to Expense Reports and Expense Items from OTBI

Drill down from Oracle Transactional Business Intelligence, or OTBI, analysis to expense reports and expense items. Add an action link on a column, such as expense report identifier or expense report number, to enable the drill down using a deep link. A deep link is a URL to open a page without navigating through the application menu structure. Users can easily navigate back and forth from the analysis to the application to review details.

Extract Receipt Image Details in Expenses Android Application

Capture expense details from the receipt image using image recognition in the Expenses Android application.

Improve Error Messages and Provide Corrective Steps While Configuring Integration with Card Issuers

Improve error messages to provide clear explanation of connection failures and guidance to correct setup. Corporate card administrators can test the connection between Expenses and your credit card issuer and review any errors after they set up a new profile.

Manage Corporate Card Transactions Processing of Inactive Employees

Process valid business charges posted to an inactive employee's corporate card within a grace period to enable timely payment to corporate card providers.

Request Foreign Currency Cash Advances

Request cash advances in foreign currencies for international travel. When the Process Expense Reimbursement process applies the foreign currency cash advance to an expense report, the cash advance is converted to the ledger currency by applying the conversion rate used at the time of the cash advance payment.

Require Imaged Receipts for Each Expense Item

Enforce imaged receipt attachments for each expense item in an expense report. Prevent submission of the expense report if any expense item is missing a receipt attachment.

Tracking Expense Report Submission and Resolving Issues with the Oracle Digital Assistant

After employees create expenses using the Oracle Digital Assistant, they can easily manage the resulting expense items and reports. Using the digital assistant, they can quickly learn the expense report status and the latest payment details. In addition, they can receive email notifications if the expenses need additional attention, such as resolving corporate card matches or providing additional mandatory information. The Expenses work area displays potential matches and highlights missing information for easy identification and resolution. The administrators can change the predefined configuration for the digital assistant to optimize corporate card matching logic, notification schedules, and the settings for automatic expense report submission.

General Ledger

Encumbrance Type to Track Invoice Encumbrances

Track Payables invoice amounts as encumbrances using the "Invoice Oracle" encumbrance type. When you pay the invoice, the encumbrance is liquidated. Guidance on how to configure Subledger Accounting rules to work with this encumbrance type will be published on Oracle Cloud Customer Connect.

Maintain Accuracy of Budget Data Between Enterprise Performance Management (EPM) and Financials

When you change a budget amount in Enterprise Performance Management (EPM) to zero, the budget transfer process from EPM also updates the balance to zero in General Ledger.

Performance Improvements to Searches on Clearing Accounts Reconciliation Pages

To improve performance:

1. The search results on the Reverse Reconciliation page display collapsed reconciliation groups by default.
2. Changes were made to the search on the Manual Reconciliation and Reverse Reconciliation pages and spreadsheets.

Joint Venture Management

Joint Venture Accounts Receivable Invoices

Create and manage accounts receivable invoices generated from distributions that contain each partner’s share of joint venture costs. This helps minimize month-end joint venture processing with automatic creation of joint venture-related invoices, increasing efficiency in recouping the joint venture expenses incurred by the managing partner from the joint venture partners.

Rapid Implementation Spreadsheet for Joint Venture Definitions

Create and update joint venture definitions from a Rapid Implementation Spreadsheet. Rapid implementation offers an alternate method to configure joint ventures using spreadsheets. Upload and update invoicing partners and entire joint venture definitions, including associated cost centers, distributable segments, distributable segment values, stakeholders, and ownership definitions with the click of a button. Adding multiple invoicing partners and joint ventures from one place increases efficiency, resulting in a faster implementation and easier integration with external systems.

Transaction Date Determination from Subledger Accounting Supporting References and GL Transactions

Automatically determine the transaction date for joint venture transactions from subledger accounting supporting references and general ledger date attributes. Set up attributes from subledger accounting and general ledger to determine the transaction date used to process joint venture transactions. Enable compliance with joint operating agreements that require the actual activity date of a transaction to be used to calculate ownership percentages for joint venture partners. This one-time setup helps minimize month-end joint venture processing.

Lease Accounting

Create Property and Equipment Leases

Maintain lease contracts in a single repository and generate amortization schedules according to IFRS16 and ASC842.

Payables

Create, Update and View Supplier Invoices with Project Information Using a REST API

Create, update, and view supplier invoices with project information using the Invoices REST API. You can capture key project information such as Project Number, Task Number, Expenditure Item Date, Expenditure Type, and Expenditure Organization on invoice lines and distributions.

Generate Forms 1099-MISC and 1099-NEC for Tax Year 2020

Generate Forms 1099-MISC and 1099-NEC for Tax Year 2020 as per the new layout published by the US Internal Revenue Service.

Report Foreign Currency Payments in Forms 1099-MISC and 1099-NEC

Report USD equivalent amounts for foreign currency payments in Forms 1099-MISC and 1099-NEC. The conversion is performed using the payment date to determine conversion rates established on that date.

Support for New Zealand Bank Accounts and Additional Fields of ISO-20020 Format in One Time Payments

Disburse one time payments to New Zealand bank accounts by specifying the bank account suffix. Additionally, specify payment reasons for one time payments made using ISO-20020 format.

Payments

Configurable Encryption and Signature Keys for Stronger Payment File Security

Generate a payment file encryption and signature keys with configurable properties such as key type, key size, hashing algorithm, and key expiration date. This allows payment administrators to configure stronger keys for enhanced security of payment files transmitted to banks. Additionally, this helps payment administrators meet bank-specific payment file security requirements.

Receivables

Assign the Primary Receipt Method to Manual Transactions

Assign by default the primary receipt method defined in the bill-to customer payment details to transactions created manually.

Process Invoices from Oracle Joint Venture Management Using Oracle Receivables

Automate joint venture billing activities using the Receivables integration with Joint Venture Cloud Management. This helps streamline invoice processing and settle payments for the respective joint venture partners.

View Multifund Accounting on the Aging and General Ledger Reconciliation Reports

View detailed distributions for transaction lines on the Receivables Aging by General Ledger Account report and the Receivables to General Ledger Reconciliation report. This view only applies to customers who set up and use Multifund Accounting.

Revenue Management

Integrate Revenue Management with Order Management and Supply Chain Cost Management

Automate revenue recognition to address IFRS 15 and ASC 606 for sales orders from Order Management that represent contracts with customers. Recognize the associated cost of goods sold in Supply Chain Cost Management in proportion to the revenue recognized in Revenue Management.

Subledger Accounting

Review and Correct Accounting Exceptions for Subledgers

Review Subledger Accounting exception and its recommended corrective actions. With the required privilege, users can navigate to relevant configuration tasks, resolve the error, and rerun the accounting process.

Tax

Validate Tax Registration Numbers for Individuals in Ecuador

Validate tax registration numbers for individual persons, not organizations, according to new validation requirements in Ecuador for the CEDULA (Ecuadorian National Resident ID card).

Validate Tax Registration Numbers for Individuals in The Netherlands

Validate tax registration numbers for individual persons, not organizations, according to new validation requirements in The Netherlands for individuals with sole proprietorships.

Transactional Business Intelligence for Financials

Drill Down from OTBI Expense Reports to Expense Report

Drill down from OTBI Expenses ad hoc reports to view Expense Report in Oracle Expenses.

Drill Down from OTBI Receivables Reports to Customer Details

Drill down from OTBI Receivables ad hoc reports to customer details in Oracle Receivables.

Regional and Country-Specific Features

Financials for the Americas

Generate Fiscal Documents for Brazil with Additional Validations and Security Changes

Use the new security features to selectively allow manual updates to tax authority returns when handling exceptional cases. Expedite import of transactions in Receivables with the new validations introduced on Import AutoInvoice with Fiscal Attributes. Enter freight information using the new freight types compliant with Fiscal Document standard layout.

Generate Transaction Numbers for Electronic Credit Invoices for Argentina

Generate transaction numbers for electronic credit invoices for Argentina using a separate numbering scheme. Use this for customer invoices with document totals above the legal threshold when billing large companies. This is a legal requirement in Argentina for small and medium-sized businesses.

Financials for EMEA

Generate JPK Invoice Listing for Poland with November 2019 Legislative Update

Generate the JPK Invoice Listing for Poland, also known as JPK_FA, with the November 2019 legislative update to comply with the latest legislative reporting requirements.

Generate the 2020 JPK VAT File for Poland

Generate the 2020 JPK VAT File for Poland in the new XML format that supports the revised regulations by the Polish Ministry of Finance. The revised JPK VAT File combines the JPK Purchase and Sales VAT Registers with VAT declarations into one file submission.

Generate Open Format Audit File for Israel

Generate the Open Format audit file for Israel to extract accounting journals and customer and supplier invoice information, in accordance with the Open Format audit file requirements of the Israel Tax Authority.