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  1. Update 24B
  1. Revision History
  2. Overview
  3. Optional Uptake of New Features (Opt In)
  4. Feature Summary
  5. Collaboration Messaging Framework
    1. Collaboration Messaging Framework
        1. Streamline Your B2B Setup for the Avalara and TIE Kinetix Service Providers
        2. Transmit a Purchase Order as a PDF File
  6. Financials Common
    1. Common Financials
        1. Service Excellence Continuing Investments
    2. Taxes
        1. Global Indirect Tax Automation with Avalara
        2. List of Value Support for Accounts in the External Taxable Transactions Spreadsheet
  7. Accounting and Control
    1. Budgetary Control
        1. Carry Forward Purchase Orders with Future-Dated Shipments
    2. General Ledger
        1. Accounting Data Archive and Purge
    3. Joint Venture Management
        1. Carried Interest Processing Enablement
        2. Credit Transactions Accounted in Partner Contributions
        3. Data Security for Joint Venture Management
        4. Invoicing Partner Name and Stakeholder Name Updates
        5. Joint Venture Overhead
        6. Manual Joint Venture Source Transactions
        7. Negative Overhead Processing
        8. Ownership Definition Assignment Rules Sequencing
        9. Project Capitalization and Progress Management Enablement in Joint Venture Management
  8. Payables and Expenses
    1. Expenses
        1. Audit of Commute Distance Deduction in Mileage with HCM Address Information
        2. Mailing Address for Expenses Reimbursement
    2. Payables
        1. Adaptive Learning for Entire Invoice and Supplier Corrections
        2. Additional Fields in the One Time Payment FBDI Spreadsheet
        3. Electronic Filing of Forms 1099-MISC and 1099-NEC for Tax Year 2023
        4. Escheatment of Unclaimed Checks
        5. Improvement in Supplier Site Selection for Supplier Portal Invoices Based on Purchase Order details
        6. Invoice Hold Placement and Release for Expense Reports Using a REST API
        7. Embedded Banking Services with J.P. Morgan for SEPA Payments
    3. Payments
        1. Positive Pay File Generation and Transmission for Outsourced Checks
        2. Simultaneous Usage of Multiple Payment Gateways
  9. Receivables and Cash
    1. Receivables
        1. Automation of Invoicing and Receipt Applications for Advance Payments
    2. Revenue Management
        1. Revenue Allocation and Recognition in Transaction Currency
  10. Asset and Lease Management
    1. Lease Accounting
        1. Lease Amendments for Partial Scope Changes
        2. Property and Equipment Leases for Japanese GAAP
        3. Revenue Lease Terminations Import
  11. Region and Country-Specific Features
    1. Brazil
        1. Model 62 for Brazilian Fiscal Documents
        2. National Service Fiscal Documents for Brazil
    2. Financials for EMEA
        1. Tax Authority Allocation Numbers in VAT Reports for Israel
    3. India
        1. Quantity-Based Tax Calculation for Price Adjusted Orders in Ship and Bill Flows
  12. U.S. Federal Financials
    1. U.S. Federal Financials
        1. Change Management for U.S. Federal SAM Suppliers in ERP
        2. GTAS Reporting for U.S. Federal
        3. Year End Close for U.S. Federal

Update 24B

Revision History

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

Date Module Feature Notes
31 MAY 2024 Payments Positive Pay File Generation and Transmission for Outsourced Checks Updated document. Added Key Resources.
31 MAY 2024 Payables Escheatment of Unclaimed Checks Updated document. Revised Tips and Considerations.
31 MAY 2024 General Ledger Accounting Data Archive and Purge Updated document. Added Idea Lab indicator. 
26 APR 2024 Lease Accounting Revenue Lease Terminations Import Updated document. Revised steps in feature description.
29 MAR 2024 Payables  Embedded Banking Services with J.P. Morgan for SEPA Payments Updated document. Added new feature in Update 24B.
29 MAR 2024 Joint Venture Management Project Capitalization and Progress Management Enablement in Joint Venture Management Updated document. Added new opt-in feature. 
01 MAR 2024     Created initial document.

Overview

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Optional Uptake of New Features (Opt In)

Oracle Cloud Applications delivers new updates every quarter. This means every three months you'll receive new functionality to help you efficiently and effectively manage your business. Some features are delivered Enabled meaning they are immediately available to end users. Other features are delivered Disabled meaning you have to take action to make available. Features delivered Disabled can be activated for end users by stepping through the following instructions using the following privileges:

  • Review Applications Offering (ASM_REVIEW_APPLICATIONS_OFFERINGS_PRIV)
  • Configure Oracle Fusion Applications Offering (ASM_CONFIGURE_OFFERING_PRIV)

Here’s how you opt in to new features:

  1. Click Navigator > My Enterprise > New Features.
  2. On the Features Overview page, select your offering to review new features specific to it. Or, you can leave the default selection All Enabled Offerings to review new features for all offerings.
  3. On the New Features tab, review the new features and check the opt-in status of the feature in the Enabled column. If a feature has already been enabled, you will see a check mark. Otherwise, you will see an icon to enable the feature.
  4. Click the icon in the Enabled column and complete the steps to enable the feature.

In some cases, you might want to opt in to a feature that's not listed in the New Features work area. Here's how to opt in:

  1. Click Navigator > My Enterprise > Offerings.
  2. On the Offerings page, select your offering, and then click Opt In Features.
  3. On the Opt In page, click the Edit Features (pencil) icon for the offering, or for the functional area that includes your feature.
  4. On the Edit Features page, complete the steps to enable the feature.

For more information and detailed instructions on opting in to new features for your offering, see Configure Offerings.

Opt In Expiration

Occasionally, features delivered Disabled via Opt In may be enabled automatically in a future update. This is known as an Opt In Expiration. If your cloud service has any Opt In Expirations you will see a related tab in this document. Click on that tab to see when the feature was originally delivered Disabled, and when the Opt In will expire, potentially automatically enabling the feature. You can also click here to see features with Opt In Expirations across all Oracle Cloud Applications.

Feature Summary

Column Definitions:

Features Delivered Enabled

Report = New or modified, Oracle-delivered, ready to run reports.

UI or Process-Based: Small Scale = These UI or process-based features are typically comprised of minor field, validation, or program changes. Therefore, the potential impact to users is minimal.

UI or Process-Based: Larger Scale* = These UI or process-based features have more complex designs. Therefore, the potential impact to users is higher.

Features Delivered Disabled = Action is needed BEFORE these features can be used by END USERS. These features are delivered disabled and you choose if and when to enable them. For example, a) new or expanded BI subject areas need to first be incorporated into reports, b) Integration is required to utilize new web services, or c) features must be assigned to user roles before they can be accessed.

Ready for Use by End Users
(Features Delivered Enabled)

Reports plus Small Scale UI or Process-Based new features will have minimal user impact after an update. Therefore, customer acceptance testing should focus on the Larger Scale UI or Process-Based* new features.

Action is Needed BEFORE Use by End Users
(Features Delivered Disabled)

Not disruptive as action is required to make these features ready to use. As you selectively choose to leverage, you set your test and roll out timing.

Feature

Report

UI or
Process-Based:
Small Scale

UI or
Process-Based:
Larger Scale*

Collaboration Messaging Framework

Collaboration Messaging Framework

Streamline Your B2B Setup for the Avalara and TIE Kinetix Service Providers

Transmit a Purchase Order as a PDF File

Financials Common

Common Financials

Service Excellence Continuing Investments

Taxes

Global Indirect Tax Automation with Avalara

List of Value Support for Accounts in the External Taxable Transactions Spreadsheet

Accounting and Control

Budgetary Control

Carry Forward Purchase Orders with Future-Dated Shipments

General Ledger

Accounting Data Archive and Purge

Joint Venture Management

Carried Interest Processing Enablement

Credit Transactions Accounted in Partner Contributions

Data Security for Joint Venture Management

Invoicing Partner Name and Stakeholder Name Updates

Joint Venture Overhead

Manual Joint Venture Source Transactions

Negative Overhead Processing

Ownership Definition Assignment Rules Sequencing

Project Capitalization and Progress Management Enablement in Joint Venture Management

Payables and Expenses

Expenses

Audit of Commute Distance Deduction in Mileage with HCM Address Information

Mailing Address for Expenses Reimbursement

Payables

Adaptive Learning for Entire Invoice and Supplier Corrections

Additional Fields in the One Time Payment FBDI Spreadsheet

Electronic Filing of Forms 1099-MISC and 1099-NEC for Tax Year 2023

Escheatment of Unclaimed Checks

Improvement in Supplier Site Selection for Supplier Portal Invoices Based on Purchase Order details

Invoice Hold Placement and Release for Expense Reports Using a REST API

Embedded Banking Services with J.P. Morgan for SEPA Payments

Payments

Positive Pay File Generation and Transmission for Outsourced Checks

Simultaneous Usage of Multiple Payment Gateways

Receivables and Cash

Receivables

Automation of Invoicing and Receipt Applications for Advance Payments

Revenue Management

Revenue Allocation and Recognition in Transaction Currency

Asset and Lease Management

Lease Accounting

Lease Amendments for Partial Scope Changes

Property and Equipment Leases for Japanese GAAP

Revenue Lease Terminations Import

Region and Country-Specific Features

Brazil

Model 62 for Brazilian Fiscal Documents

National Service Fiscal Documents for Brazil

Financials for EMEA

Tax Authority Allocation Numbers in VAT Reports for Israel

India

Quantity-Based Tax Calculation for Price Adjusted Orders in Ship and Bill Flows

U.S. Federal Financials

U.S. Federal Financials

Change Management for U.S. Federal SAM Suppliers in ERP

GTAS Reporting for U.S. Federal

Year End Close for U.S. Federal

Collaboration Messaging Framework

Collaboration Messaging Framework

Streamline Your B2B Setup for the Avalara and TIE Kinetix Service Providers

The process for B2B setup has been streamlined for the Avalara and TIE Kinetix predefined service providers. If you are subscribed to their services, you can connect with your trading partners and exchange messages with greater ease.

The endpoints for these service providers are predefined, and a new simplified process is provided to streamline the B2B setup in the Collaboration Messaging work area.

Steps to Enable

At a high level, to set up these service providers:

  1. Configure the service providers to exchange messages with your trading partners.
  2. Create trading partners.
  3. Associate the trading partners with your customers or suppliers and select the documents you want to exchange.

These steps are detailed in the Configuring and Managing B2B Messaging for Oracle Fusion Cloud SCM guide.

Configure the Predefined Service Providers Avalara or TIE Kinetix to Exchange Messages with Your Trading Partners.

  1. Select Manage Collaboration Messaging Service Providers from the Tasks panel tab, search for either Avalara or TIE Kinetix and select Actions > Edit.

The overview tab displays the following details about the service provider:

  • Connection type that is configured, Test or Production.
  • A check box to indicate whether credentials are configured or not.
  • The number of trading partners configured for the service provider.
  • The number of trading partners with override message definitions.
  • The number of customers that are setup with the service provider.

Service Provider Overview for TIE Kinetix

Service Provider Overview for TIE Kinetix

  1. Select Actions > Manage Delivery Settings to configure the settings for outbound message delivery.
    • Select Test or Production in the Outbound Delivery Connection Type drop-down to reflect the environment you're setting up.
    • Enter the username and password provided by Avalara or TIE Kinetix for sending messages to their network in the Service Provider User Name and Password fields.

Manage Delivery Settings

Manage Delivery Settings

  1. Select the Outbound Message Setup tab to activate the outbound messages:

The outbound messages available for Avalara are:

  • Invoice

The outbound messages available for TIE Kinetix are:

  • Invoice
  • Purchase Order
  • Change Purchase Order

Avalara– Outbound Message Setup

Avalara– Outbound Message Setup

  1. Select the Inbound Message Setup tab to activate the inbound purchase order.

The inbound messages available for Avalara are:

  • Acknowledge Invoice
  • Invoice

The inbound messages available for TIE Kinetix are:

  • Acknowledge Invoice
  • Acknowledge Purchase Order
  • Invoice
  • Shipment

Avalara- Inbound Message Setup

Avalara- Inbound Message Setup

Create Trading Partners

After completing the service provider setup, create your trading partners.

  1. Select Manage B2B Trading Partners on the Tasks panel tab.
  2. On the Manage B2B Trading Partners page, select Actions Create, and add your trading partners.
  3. Select Avalara or TIE Kinetix as the service provider you're using.

Screen capture that shows how to create a trading partner.

Create a Trading Partner

Associate Trading Partners with Your Customers

Next, associate the trading partners with your customers and select the documents you plan to exchange.

  1. Select Manage Customer Account Collaboration Configuration on the Tasks panel tab, and search for your customers.
  1. Select a customer and then select Edit Collaboration Configuration.
  1. In the Associated Service Providers section of the Edit Customer Account Collaboration Configuration page, select Actions > Add Row to add a trading partner and the service provider.
  1. In the Collaboration Documents for Service Provider section, select Actions > Add Row, add the documents you want to exchange and set their Association Status to Enabled.

Both the Avalara and TIE Kinetix service providers have the following documents available:

  • Invoice Acknowledgement Inbound
  • Invoice Outbound

Screen capture that shows how to edit the customer account collaboration configuration.

Customer Account Collaboration Configuration

Associate Trading Partners with Your Suppliers

  1. Select Manage Supplier B2B Configuration on the Tasks panel tab, and search for your suppliers.
  1. Select a supplier and then select Edit Supplier B2B Configuration.
  1. On the Edit Supplier B2B Configuration page, select the Trading Partner Assignment tab and click Actions > Add Row to add a trading partner and either the Avalara or TIE Kinetix service provider.

The Avalara service provider has the following document available for setup:

  • Invoice - Inbound

The TIE Kinetix service provider has the following documents available for setup.

  • Advance Ship Notice – Inbound
  • Purchase Order Acknowledgement – Inbound
  • Invoice – Inbound
  • Purchase Order – Outbound
  • Purchase Order Change – Outbound

Screen capture that shows how to edit the supplier B2B configuration.

Document Setup for Supplier Sites

Tips And Considerations

If you used TIE Kinetix services prior to this release, you’ll notice that your message definition names are now prefixed with 'TIEKinetix_'.  You can select TIE Kinetix from the list of service providers in the Manage Collaboration Message Definitions task to search for your message definitions.

Key Resources

  • Refer to the Configuring and Managing B2B Messaging for Oracle Fusion Cloud SCM guide on the Oracle Help Center.

Access Requirements

Users who are assigned a configured job role that contains these privileges can access this feature:

  • Manage B2B Customer Trading Partners (CMK_B2B_CUSTOMER_TRADING_PARTNERS_PRIV)
  • Manage Customer Account Collaboration Configuration (CMK_B2B_CUSTOMER_ACCOUNT_TRADING_PARTNERS_PRIV)
  • Manage B2B Trading Partners (CMK_B2B_TRADING_PARTNERS_PRIV)
  • Manage Service Provider (CMK_MANAGE_SERVICE_PROVIDER_PRIV)

These privileges were available prior to this update.

Transmit a Purchase Order as a PDF File

You can use the Transmit the PO PDF as an unzipped file when it’s the only attachment check box to send a PO as an uncompressed PDF file by email to your suppliers. This option is applicable when the PO is the only attachment available for the message.

This feature makes it easier for smaller suppliers who don’t have automated systems to read the POs they receive.

Steps to Enable

The email delivery method may be configured for a service provider or a trading partner to transmit the PO PDF as an unzipped file. To enable this option,

  1. Select Manage Collaboration Messaging Service Providers from the Tasks panel tab, and search for the service provider you're using to deliver your B2B messages. If you don’t use a service provider for sending and receiving messages, select Manage B2B Trading Partners from the Tasks panel.
  1. Select the Delivery Methods tab, and on the email delivery method, select the Transmit the PO PDF as an unzipped file when it’s the only attachment check box.

Screen capture that shows the check box on the delivery methods tab.

Transmit the PO PDF as an Unzipped File When It’s the Only Attachment on the Delivery Methods Tab

3. Select Save and Close.

Tips And Considerations

The PO PDF is sent as an uncompressed file if it's the only attachment for the message. If there are additional attachments, all attachments including the PO PDF will be compressed and sent as a ZIP file. If your suppliers can’t receive a ZIP file, you can use the File Extension field on the email delivery method to set the extension of the file that is sent by email.

Key Resources

  • Refer to the Configuring and Managing B2B Messaging for Oracle Fusion Cloud SCM guide on the Oracle Help Center.

Access Requirements

Users who are assigned a configured job role that contains these privileges can access this feature:

  • Manage B2B Trading Partners (CMK_B2B_TRADING_PARTNERS_PRIV)
  • Manage Service Provider (CMK_MANAGE_SERVICE_PROVIDER_PRIV)

These privileges were available prior to this update.

Financials Common

Common Financials

Service Excellence Continuing Investments

Our ongoing investment in service excellence has a focus on overall usability, resiliency, performance, and security. This work is based on monitoring performance trends, reviewing common use patterns, analyzing service requests, and participating in many discussions with customers.

In this update, our ongoing investment in service excellence includes improvements in the following areas.

Performance:

  • Improved performance of the Budgetary Control Dashboard to render the page quickly.
  • Improved performance of the search in the Review Budgetary Control Balances page.

Steps to Enable

You don't need to do anything to enable this feature.

Taxes

Global Indirect Tax Automation with Avalara

Automate the tax partner onboarding for Avalara. This provides a seamless experience to implement Avalara globally for tax partner processing in Oracle Tax.

Use the Manage Indirect Tax Automation with Avalara page to initiate Avalara enablement and track the status of each individual task.

You can now initiate the enablement for multiple countries that are supported by Avalara. It was earlier available only for the United States.

The page displays the countries for which enablement can be initiated, countries for which it is in progress and countries for which it is complete under three different tabs.

Manage Indirect Tax Automation with Avalara page

Manage Indirect Tax Automation with Avalara page, Enabled tab

You can view the status for each individual task for countries for which enablement is in progress or is complete by choosing the country and clicking on View Status Details.

Manage Indirect Tax Automation with Avalara Status Details

The page displays three required tasks.

  • Geography Content Import - Loads the geography data which is used for addresses and transaction tax calculations.
  • Tax Content Import - Loads the regime-to-rate flow setup, configuration owner tax options and business unit subscriptions.
  • Partner Tax Activation - Activates partner tax calculation for subledger transactions.

Oracle customers need real-time access to tax compliance solutions as part of their ERP. Oracle and Avalara have pre-wired and pre-configured the two systems to streamline and automate the integration between them and reduce ERP implementation efforts and costs. This integration which was available for the United States is now available for all countries supported by Avalara.

Steps to Enable

You don't need to do anything to enable this feature. However, you must complete some pre-requisite setups before you can initiate the enablement from the Manage Indirect Tax Automation with Avalara page.

  1. Complete the registration process with Avalara and get the login details.
  1. Create a new Oracle user and assign the Tax Administrator role to the user.
  1. Create a new custom role with Role Category of BI - Abstract Roles. Add the Manage Reports and Analytics privilege to the role and add the user created in the previous step to this role.
  • Role Name – user defined value
  • Role Code – user defined value
  • Role Category – BI – Abstract Roles
  • Description - user defined value

Create a new custom role

The user should now have both the roles assigned.

User account with both roles assigned

  1. Run the Retrieve Latest LDAP Changes process followed by Send Personal Data for Multiple Users to LDAP process.

You can use this user to initiate the enablement and provide the same user to Avalara on the Oracle Readiness for Avalara Enablement page. It is displayed once you initiate the enablement and login using your Avalara credentials for the first time.

Tips And Considerations

  • The Oracle Fusion Cloud ERP customers who are also Avalara customers can take advantage of this automated enablement process. There may be limitations on using this process. Contact Oracle for assistance.
  • The automated enablement process is only for initial configuration. For incremental updates, you should use your existing processes.

Key Resources

Access Requirements

You need to have a job role assigned that has the privilege Manage Tax Partner Configuration (ZX_MANAGE_PARTNER_CONFIGURATIONS_PRIV) to access the Manage Indirect Tax Automation with Avalara page. The Tax Administrator role has this privilege so you can access the page if you have this role assigned.

List of Value Support for Accounts in the External Taxable Transactions Spreadsheet

Use the lists of values in the Debit Account and Credit Account columns of the Create Taxable Transactions and Correct Taxable Transactions spreadsheets.

These spreadsheets are used to create taxable journals or transactions in Oracle Fusion Cloud ERP, for transactions from external applications, and contain customer, supplier and other tax attributes for tax calculation.

The spreadsheets currently do not have the list of values for the Debit Account and Credit Account fields. You have to manually enter the values for the debit and credit accounts, which is cumbersome and prone to errors.

The list of values introduced for these fields allows you to select a particular account code combination, improves the user experience and reduces the possibility of making errors.

Create taxable transactions spreadsheet

Create Taxable Transactions Spreadsheet

Create taxable transactions spreadsheet accounts list of values search

Create Taxable Transactions Spreadsheet Accounts List of Values Search

Create taxable transactions spreadsheet accounts list of values search results

Create Taxable Transactions Spreadsheet Accounts List of Values Search Results

Double-click on the Debit Account or Credit Account field columns to open the accounts list of values. You can search by specifying the values for one or more accounting flexfield segments and choose a specific account code combination from the search results.

Business benefits include:

  • Improved user experience.
  • Improved accuracy in account information for external taxable transactions and journals.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

  • This feature originated from the Idea Labs on Oracle Customer Connect: Idea 532830

Accounting and Control

Budgetary Control

Carry Forward Purchase Orders with Future-Dated Shipments

Include purchase orders with future-dated shipments in the Carry Forward Purchase Order Budgetary Control Balances process. The process can carry forward purchase orders both with budget dates within the carry forward through date and with future-dated shipment dates.  The future-dated shipments budget dates remain unchanged.

The Carry Forward Purchase Orders report has a new tab, Carry Forward Exclusions, with the details of purchase orders and shipments not carried forward.

Business benefits include:

  • Reduces the number of purchase orders manually carried forward to the next budget year.
  • Allows users to easily see which orders may need to be manually carried forward to the next budget year.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

The Carry Forward Purchase Order Budgetary Control Balances process has changed from purchase-order-level processing to shipment-level processing.

All shipments of a purchase order eligible to be carried forward must pass final close and reopen, otherwise the entire purchase order won’t be carried forward.

A shipment will be carried forward when a shipment has:

  • all budget dates before the finally close through budget date.

A shipment won’t be carried forward when a shipment has:

  • all budget dates after the finally close through budget date.
  • has a mix of budget dates, future-dated and before the finally close through budget date.

It is recommended that you create multiple shipments when you have multiple budget dates, so the purchase order is carried forward automatically.

Key Resources

Access Requirements

No changes.

General Ledger

Accounting Data Archive and Purge

Use a policy-based approach to archive accounting data to enable efficient and proactive management of data growth, and to purge the accounting data in compliance with data retention requirements in various jurisdictions.

Accounting data that can be archived and purged includes General Ledger journals, General Ledger balances, Accounting Hub subledger journals, and supporting references and control account balances for all subledgers. Use Oracle Business Intelligence Cloud Connector to extract archived accounting data to external storage areas before purging.

Perform these setup steps before archiving and purging the accounting data.

  1. Set up the retention policies for archive and purge according to the legal retention requirements. Purge retention policies can be set up for the accounting data. These policies can be further overridden for a ledger and legal entity combination. Purge retention policies will determine when the archived data can be purged for a ledger and legal entity combination.

Manage Archive and Purge Policies

Manage Archive and Purge Policies

  1.  Enable Accounting Data for Archive: You must prepare and enable each of the business objects for archive.

Enable for Archive

Enable for Archive

Once the setup is complete you can archive and purge the accounting data. Navigate to the Archive and Purge: Accounting Data page.

  1. Select Actions-> Validate to validate the data for a fiscal year and accounting calendar combination. This action will check if the accounting data is valid for archive.
  2. Once the validation is successful, select Actions-> Archive. This action will move the data from the transaction tables into the archive tables for a fiscal year and calendar at a time.
  3. Optionally extract the archived accounting data from the Financials data stores in Oracle Business Intelligence Cloud Connector before purging it.
  4. You can click the Purge button on the page to review the eligible archived data before it is purged.

Business benefits include:

  •  Flexible retention of accounting data according to country-specific legal retention policies. This reduces the cost of compliance.
  •  Allows customers to proactively manage the data growth in large volume transaction-based applications like Accounting Hub and General Ledger.
  •  Brings a stable and smooth user experience to inquiries and reports even while a large amount of accounting data is growing in the system.

Steps to Enable

Enabling archive and purge feature capabilities is controlled from the ‘Manage Archive and Purge Policies’ page through the ‘Enable for archive’ button. This step prepares and enables Accounting Data for archive and purge.  Accessing the ‘Manage Archive and Purge Policies’ page does not require an opt-in choice, but requires the privilege described in the Access Requirements section below.

Tips And Considerations

  • Existing customers can enable this feature to optimize and compress current accounting records. This will improve overall system performance across accounting processes and user pages. The enabling step alone does not perform any archive or purge steps until the retention period is defined and the archive processes are run.
  • For existing implementations, the Enable for Archive step is a one-time activity to be performed during a low business activity processing window. This process takes time to complete depending on the data volumes of the tables. The process performs the two steps Prepare and Enable sequentially for each business object.
  • Run the Archive and Purge processes during a time of year when there is low business activity because these processes are resource intensive and could slow down other processes. Purge can be done more frequently on a period basis if required.
  • Enable audit for the Archive and Purge Retention Policies object before setting up the retention policies for archive and purge.

Key Resources

  • Refer to the Accounting Data Archive and Purge topic in the Implementing Enterprise Structures and General Ledger guide on the Oracle Help Center.
  • Refer to the Accounting Data Extraction topic in the Extract Data Stores for Financials guide on the Oracle Help Center.

Access Requirements

To access the Manage Archive and Purge Policies page, administrators need the Archive Financials Business Objects privilege (FUN_ARCHIVE_FINANCIALS_BUSINESS_OBJECTS_PRIV), which is assigned to the Financial Application Administrator job role (ORA_FUN_FINANCIAL_APPLICATION_ADMINISTRATOR_JOB).

Joint Venture Management

Carried Interest Processing Enablement

Starting with release 24C, Carried Interest Configuration and Tracking will be enabled via the Joint Venture System Option. Prior to release 24C, this feature was enabled using a Feature Opt In.

Business Impact:

Starting from release 24C, you must set up the configuration in Joint Venture System Options to enable carried Interest processing for Joint Venture Management.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: FinancialsNo Longer Optional From: Update 24C

Tips And Considerations

Currently, you have an option to enable or disable Carried Interest Configuration and Tracking through a Feature Opt In. In 24C this feature opt in will be obsoleted. If you are using this feature, when you receive the 24C update, you must enable Carried Interest functionality via the Joint Venture System Options application. If you do not perform this configuration, your users cannot access or process any carried interest data in Joint Venture Management.

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.

Access Requirements

  • Joint Venture Application Administrator
  • Joint Venture Accountant

Credit Transactions Accounted in Partner Contributions

Process credit transactions through partner contributions. Use the Assign and Draw Partner Contributions process to add cost transactions with credit amounts to a partner contribution.

To include credit cost distributions in a run of the Process Joint Venture Partner Contributions process, select Assign and Draw Partner Contributions in the Processing Mode parameter. Then enable one or both of the Process Credit Distributions parameter and the Allow Open Amount to Exceed Contribution Amount parameter.

Set the Process Credit Distributions parameter to Yes to add credit costs to partner contributions, resulting in an increase in the open amount.

Set the Allow Open Amount to Exceed Contribution Amount parameter to Yes to let the open amount exceed the partner contribution amount when creating credit distributions for partner contributions.

Parameters for the Process Joint Venture Partner Contributions process highlighting the two newly added parameters.

Parameters for the Process Joint Venture Partner Contributions process

When a credit cost distribution is reversed, the amount will be subtracted from the partner contribution it was originally added to if the amount is available to draw.

Business benefit:

This ensures that credit cost transactions are accurately accounted for and reflected in the partner contribution balance.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.

Access Requirements

  • Joint Venture Accountant

Data Security for Joint Venture Management

Starting with this release (release 24B), data security for Joint Venture Management is auto-enabled and no longer an optional feature.

Configuring Data Security Prior to 24B:

Prior to receiving the 24B update, you must configure Data Security for Joint Venture Management. Instructions on how to do this are available in the "Set Up Joint Venture Management Users and Security" chapter in the Implementing Joint Venture Management guide. If you do not perform this configuration, your users cannot access or process any data in Joint Venture Management that is associated to a business unit. Examples are accessing or processing joint venture definitions, joint venture transactions, and joint venture distributions.

Steps to Enable

  1. Associate business units to users using the security console.
  2. Associate a business unit to joint venture definitions when setting up the joint ventures.

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.

Access Requirements

  • Joint Venture Application Administrator
  • Joint Venture Accountant
  • Joint Venture Accounting Manager

Invoicing Partner Name and Stakeholder Name Updates

Update invoicing partner names and stakeholder names in a joint venture.

To change an Invoicing Partner Name:

  1. Navigate to Setup and Maintenance and select the Joint Venture Management functional area under the Financials offering.
  2. Click the Manage Invoicing Partners task.
  3. On Invoicing Partners, select the row with the invoicing partner and click More Actions, Edit Name.
  4. Enter the new name for the invoicing partner and click Update.

Invoicing Partners manage page showing the Edit Name action button.

Invoicing Partners edit dialog that allows you to change the name of the invoicing partner.

To change a Stakeholder Name:

  1. Navigate to Setup and Maintenance and select the Joint Venture Management functional area under the Financials offering.
  2. Click the Manage Joint Venture Definitions task.
  3. Open a joint venture with the stakeholder and navigate to the Stakeholders page.
  4. Select the row with the stakeholder and click More Actions, Edit Name.
  5. Enter the new name for the stakeholder and click Update.

Business benefit:

Maintaining the current invoicing partner name and stakeholder name can help reduce confusion in the management of the joint venture life cycle.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  • When you change an invoicing partner name or stakeholder name in Oracle Joint Venture Management, the name is updated in all joint ventures that the invoicing partner and stakeholder is associated with. It’s also updated in any associated partner contributions, distributions, and carried interest distributions generated for the invoicing partner and stakeholder.
  • After you change an invoicing partner name or stakeholder name, you must have an application implementation consultant run the data ingest process to update the names in the Transactions, Distributions and Invoices work areas.
  • If you change an invoicing partner name or stakeholder name, you must change the name in both the source and target environments before performing a data migration.
  • If you only change the name in source environment, after the data migration, you’ll end up with two records in the target environment—one with the original name and another with the new name. In this scenario, in the target environment, you would need to delete the new record and then change the name of the original stakeholder to the new name.

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.

Access Requirements

  • Joint Venture Application Administrator
  • Joint Venture Accountant

Joint Venture Overhead

Joint venture overhead provides the ability to:

  • Create user-defined rules to calculate overhead charges or management fees for managing partners of a joint venture to recover costs associated with managing the joint venture.
  • Process the calculated overhead as cost recovery or as revenue to the managing partner.
  • Define periodic adjustment factors to adjust overhead method percentages and rates on a periodic basis.

Enables the managing partner to:

  • Conform to the joint operating agreement by ensuring accurate calculation and distribution of overhead and management fees to be billed to the joint venture partners.
  • Minimize month-end processing and reduce potential errors caused by manual entry through the use of automated processes.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  • Starting with release 24B joint venture overhead is no longer optional for Joint Venture Management and will be auto-enabled.
  • If you are using this feature, there will be no difference in the way Joint Venture Management looks or processes.
  • If you are not using this feature and have the Feature Opt In disabled, when you receive the 24B update, you will see overhead-related information on the UI that was previously not visible. This has no effect on Joint Venture Management processes.

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.
  • Watch Joint Venture Overhead Readiness Training.

Access Requirements

  • Joint Venture Application Administrator
  • Joint Venture Accountant
  • Joint Venture Accounting Manager

Manual Joint Venture Source Transactions

Manually create joint venture source transactions in Joint Venture Management. The managing partner can distribute to partners any transaction amounts that cannot be calculated by standard joint venture processes. These include drawing from partner contributions, billing stakeholders for costs, and paying stakeholders for revenue generated by the joint venture.

Business benefits include:

  • Creating joint venture source transactions helps reduce errors associated with the creation of manual journal entries that cannot be processed by Joint Venture Management.
  • Ensures the integrity of joint venture data for audit purposes.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.
  • Watch Manual Joint Venture Source Transactions Readiness Training.

Access Requirements

  • Joint Venture Application Administrator
  • Joint Venture Accountant
  • Joint Venture Accounting Manager

Negative Overhead Processing

Optionally include negative overhead amounts in the processing of a joint venture overhead.

To process joint venture overhead with negative overhead amounts:

  1. Run the Process Joint Venture Overhead process in the Create Joint Venture Source Transactions mode.
  1. In the parameters, select Yes for Allow Negative Overhead to allow the processing and creation of negative overhead transactions. The default is No for this parameter..

The parameters for the job Process Joint Venture Overhead with empahsis on the new parameter Allow Negative Overhead.

Business benefits include:

  • Improve reporting on the joint operating agreement by ensuring accurate calculation and distribution of overhead and management fees to be billed to the joint venture partners.
  • Use automated processes to minimize month-end processing and reduce potential errors caused by manual entry.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

If your normal business practice is not to create negative overhead amounts, set Allow Negative Overhead to No. The report will print the negative overhead amount, the overhead method, and the joint venture name with a message indicating that negative overhead was calculated for the joint venture.

If you set Allow Negative Overhead to Yes, the report will generate and print the negative overhead along with information about the amount created, the overhead method, and the joint venture name. It will also display a message indicating that the negative overhead was successfully created.

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.
  • Watch Joint Venture Overhead Readiness Training.

Access Requirements

  • Joint Venture Accountant

Ownership Definition Assignment Rules Sequencing

Use sequence numbers to specify the order in which to process ownership definition assignment rules for a joint venture.

Ownership Definition Assignment Rules manage page showing the new attribute Processing Sequence.

Business benefit:

Simplify the order in which to process ownership definition assignment rules.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

Previously, Ownership Definition Assignment Rules checked for account information and then for project details to determine the order in which to process the assignment rules. Starting in 24B, users can now simplify the processing order using the ownership definition assignment rule sequence numbers.

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.

Access Requirements

  • Joint Venture Application Administrator
  • Joint Venture Accountant

Project Capitalization and Progress Management Enablement in Joint Venture Management

Starting with release 24C, the integration to Project Capitalization and Progress Management from Joint Venture Management will be enabled by default. Prior to release 24C, this feature was enabled using a feature opt in.

Business Impact:

Starting from release 24C, you do not have to enable this feature with the feature opt in.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: FinancialsNo Longer Optional From: Update 24C

Key Resources

  • For more information, refer to
    • Implementing Joint Venture Management guide and
    • Using Joint Venture Management guide.

Access Requirements

  • Joint Venture Application Administrator
  • Joint Venture Accountant

Payables and Expenses

Expenses

Audit of Commute Distance Deduction in Mileage with HCM Address Information

Use employee HCM home and office address information to verify the commute distance entered on mileage reimbursement during expense report audit. This is helpful where company mileage policy requires deducting commute mileage between home and office from the overall trip distance.

When an employee creates a mileage expense with a different home and/or office address than what's on the Contact Information page of HCM, the corresponding expense report is selected for audit with 'Commute Distance Variance' as the reason.

In the Expense Report Summary section, Auditors will se ‘Commute Distance Variance’  if an expense report violates the ‘Audit expense report with commute address variance’ audit rule is violated.

To use this feature enable the new audit selection rule "Audit expense report with commute address variance" in Setup and Maintenance.

To use this feature enable the new audit selection rule “Audit expense report with commute address variance” in Setup and Maintenance.

Business benefits include:

  • Enhanced visibility for auditors regarding mileage information within the print preview PDF report.
  • Prevention of inaccurate or fraudulent mileage claims by expense users.
  • Reduction of risk of approval of non-compliant expense reports.
  • Reduction of potential over-payments by the company.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

  • This feature originated from the Idea Labs on Oracle Cloud Customer Connect: Idea 679390

Mailing Address for Expenses Reimbursement

Allow employees to select a mailing address in HCM, other than home and office, to receive reimbursement for business expenses. This way employees can claim reimbursements for business expenses while working in a country that's not their permanent residence, and where local bank regulations require the employee address to match the address registered in that specific country.

To allow employees to use a mailing address for Expenses payments, complete these steps for each employee:

  1. Sign in to Oracle Fusion Global Human Resources as a Human Resources specialist.
  2. Navigate to the Person Management page, and search for the existing employee that you want.
  3. Navigate to the Manage Employment page.
  4. In the Expenses Information section, select Mail from the Expense Check Send-to Address choice list.

Business benefits include:

  • Improve employee satisfaction by allowing employees, who work overseas, to keep their home address in their home country for payroll payment and use a mailing address to receive Expenses payment. 
  • Reduce payment rejections where local bank regulations require the employee address to match the address registered in that specific country.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  • The mailing address is only supported for expense report payments, not for cash advance payments.
  • This is not a self-service capability. Setup for each user is required by Human Resources specialist.
  • The mailing address can be used for either payment by check or electronic payment.

Key Resources

  • This feature originated from the Idea Labs on Oracle Cloud Customer Connect: Idea 679431

Access Requirements

To use this feature, you need to have the Human Resources Specialist job role assigned.

Payables

Adaptive Learning for Entire Invoice and Supplier Corrections

IDR extends Adaptive Learning support to eight additional fields. Making adaptive learning corrections to the incomplete invoices shows IDR where to recognize the missed attribute for subsequent invoices processed for the same supplier.

IDR adds support for these eight additional attributes:

  1. Payment Terms
  2. Ship-to Location
  3. First-Party Tax Registration Number
  4. Supplier Tax Registration Number
  5. Multiperiod Accounting: Start Date
  6. Multiperiod Accounting: End Date
  7. Asset: Project Number
  8. Asset: Task Number

Use the Interactive Viewer to make corrections to incomplete invoices. Making adaptive learning corrections to the incomplete invoices shows IDR where to recognize the missed attribute for subsequent invoices processed for the same supplier.

Business benefit:

Increase productivity by reducing time and effort spent on manual updates.  Adaptive Learning trains IDR to recognize these fields automatically on subsequent invoices processed for the same supplier. 

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

Follow these steps to use the Interactive Viewer to correct the invoice.

  1. On the Edit Invoice page, select the field that needs to be updated.
  1. Double-click or highlight the relevant field on the invoice that displays in the Interactive Viewer.
  1. If you highlighted the field in Interactive Viewer, releasing the mouse button copies its value to the selected invoice field on the Edit Invoice page. Similarly, double-clicking the invoice number on the Interactive Viewer also copies its value to the selected field on the Edit Invoice page.
  1. Click Save.

Additional Fields in the One Time Payment FBDI Spreadsheet

Capture additional information for the One-Time Payment File-Based Data Import, including URL attachments, remittance messages and values contained in additional invoice fields.

Many of our cloud customers in the Health Care, Higher Education, Public Services and Financial Services industries initiate bulk one-time payments to payees who are not considered suppliers. These types of payments include Student Refunds in Higher Education, patient claims in Health Care, or payments to individuals on Jury Duty. The One Time Payment (OTP) FBDI is an existing feature in Oracle ERP Financials Cloud, allowing customers to import transactions from external systems as payment requests and make payments through Oracle Fusion..

Organizations with high volumes of one-time payments, typically originating in a 3rd party application, use the FBDI spreadsheet to create these invoices. Some fields on the Payables invoice are required to be added in the one-time payment FBDI spreadsheet. Otherwise, these fields require additional manual updates and entries post importing the invoices, from the Manage Invoice page.

Users submitting One-Time Payment requests through OTP spreadsheets are not able to add attachment URL for invoice images. Additionally there is no place to capture a reference/remittance messages in invoice installments. This feature enhances One Time Payment FBDI spreadsheet to allow attachment URL and remittance messages capture fields on the invoice.

The additional fields are:

  1. URL Attachments
  2. Remittance Message 1
  3. Remittance Message 2
  4. Remittance Message 3

Sample Spreadsheet view

Business benefit:

Reduce manual effort of AP department with additional fields in the one-time payment FBDI spreadsheet.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  • You can enter multiple attachment URLs in the URL Attachments cell of the OTP FBDI.
  • On a successful import - the URL provided in the FBDI will get created with
    • Type- URL
    • Category – Payables Supporting Document .
    • The URL value will be populated in File Name or URL column.
    • Title will be populated as "“URL Attachment for Invoice XXX”. (XXX being Invoice Number).
    • Attached by value will be the "Created BY" value.

Key Resources

Electronic Filing of Forms 1099-MISC and 1099-NEC for Tax Year 2023

Generate electronic files for the Form 1099-MISC and the Form 1099-NEC according to the specifications for tax year 2023 published by the US Internal Revenue Service (IRS). Two new states--District of Columbia and Pennsylvania--are added to the list of participating states for Combined Federal/State Filing (CF/SF) Program by IRS.

These are the state codes assigned to the new states in the Manage Tax Regions page:

  • District of Columbia: 42
  • Pennsylvania: 11 

Manage Tax Regions Page

Manage Tax Regions Page

Business benefit:

Improves compliance with the most recent tax laws.

Steps to Enable

You don't need to do anything to enable this feature.

Escheatment of Unclaimed Checks

Identify and escheat unclaimed checks issued for payments to suppliers, or issued to employees for expense payments, that haven't been presented for clearing during a specific period of time, and transfer the amount to the appropriate local authority. You can also generate a report with a list of payments that are escheated or initiated for escheatment.

Escheatment Process Steps:

  1. Identify the stale dated check payments in Manage Payments page using payment date criteria. Checks that aren’t cleared for more than or equal to the minimum number of days for escheatment are considered as stale dated check payments.

Identify the Stale Dated Payments in Manage Payments Page

Identify the Stale Dated Payments in Manage Payments Page

  1. Select "Initiate Escheat" action on a single payment or selected multiple payments identified as stale dated check payments. After payment is Initiated for escheatment, the payment status will be changed to Escheatment Initiated. 

Initiate Escheatment from Manage Payments Page

Initiate Escheatment from Manage Payments Page

  1. Send stop payment instructions to the corresponding banks for all payments in the Escheatment Initiated status.
  1. After performing due diligence on all stale dated payments, use the Manage Payments page to search for and select payments in the Escheatment Initiated status in and submit the Escheat action.

Escheat Payments Which Are in Escheatment Initiated Status

Escheat Payments Which Are in Escheatment Initiated Status

  1. The payments status changes to Escheated. There is no further activity on escheated payments.

Escheated Payments 

Escheated Payments 

  1. Run accounting process for the escheated payments to transfer the amount from Cash or Cash clearing account, to Unclaimed Fund account.
  1. Create a Payables invoice for payment to the escheatment authority.

Accounting Entries for the Payment and Escheated Payment when Offset Segments option is set to None and Account for Payment option is set to at Payment Issue and Clearing.

When payment is accounted:

Dr Supplier Liability Account

Cr Cash/Cash Clearing Account

When payment is escheated:

Dr Cash/Cash Clearing Account

Cr Unclaimed Fund Account

Create invoice manually on Escheatment Authority:

Dr Unclaimed Fund Account

Cr Escheatment Authority Liability Account

Generation of accounting entries for the escheated payment will be different based on Offset Segments and when to account payment options.

Report:

Run the Escheated Payments Listing Report for a list of Escheated and Initiated for Escheatment payments.

Escheated Payments Listing Report

Escheated Payments Listing Report

Report Output:

Report Output

Report Output

Report Output

Business benefit:

Improves compliance with legal regulations by transferring unclaimed payments over to the appropriate authority.

Steps to Enable

Following setups are mandatory to escheat the payments:

  1. Enter Unclaimed Fund Account in Manage Common Options for Payables and Procurement page.

Manage Common Options for Payables and Procurement Page

Manage Common Options for Payables and Procurement Page

  1. Enter minimum days to initiate escheatment in Manage Payment Options page.

Manage Payment Options

Manage Payment Options

Updating a Customized Accounting Method:

If you have customized the predefined Subledger Accounting accounting method, you must add the Escheated Payments accounting event class with event type Payment Escheated to your customized accounting method.

To add the Escheated Payments accounting event class, complete these steps:

  1. Navigate to the Manage Accounting Methods task.
  2. Select the custom accounting method assigned to the primary and secondary ledgers.
  3. Select Payables.
  4. Click the Plus (+) icon.
  5. Select Event Class = Escheated Payments, Event Type = All, Rule Set = Escheated Payments Accrual Basis.
  6. Click Activate.
  7. Submit the ESS Process "Update Subledger Application Option" by selecting the Subledger Application parameter list of value as "Payables".

Tips And Considerations

  • You can only escheat check payments in the Negotiable status and in the ledger currency. Payment is eligible for the escheatment only when the payment is done using the Payment Process Profile configured with Processing Type "Printed".
  • Payment cannot be initiated for escheatment for the Manual or Refund or Netting and Prepayment payments.
  • You can't escheat cross-business-unit payments.
  • New accounting event class "Escheated Payments" with event type "Payment Escheated" seeded in Subledger Accounting and assigned to the seeded accounting method. 

Key Resources

Access Requirements

New privilege called "Escheat Unclaimed Payments" predefined to secure the "Initiate Escheat" and "Escheat" actions in Manage Payments page. This new privilege is added to the seeded duty role called "Payables Payment Processing Duty". This duty role assigned to the seeded "Accounts Payable Supervisor" and "Accounts Payable Manager" job role.

Improvement in Supplier Site Selection for Supplier Portal Invoices Based on Purchase Order details

Choose a supplier site for invoices on the Supplier Portal from a list based on the bill-to business unit supplier site assignments from the purchase order. This contextually tailored list of sites speeds selection and increases accuracy.

While creating a PO matched invoice using Supplier portal, the Purchase Order supplier site is defaulted in the supplier site of Invoice if the Supplier Site is a Pay Site. However, the Supplier site in the Invoice UI is also allowed to be updated and the user can select another site from the List of Values(LOV) attached to the Supplier Site field in the Create Invoice page of Supplier portal. This Supplier Site LOV in the "Create Invoice" page for Matched invoices in Supplier portal, displays additional pay sites which are not even applicable to the Bill-To Business Unit of the Purchase Order. Hence in the Supplier Portal today, all combinations of Supplier Site assignments against different Business Units appear which creates lots confusion for the user to select the correct Supplier Site/Business Unit combination.

This feature enhances the Supplier Portal, "Create Invoice" page for Matched invoices, where the Supplier Site LOV now fetches only those Pay Sites, which have the valid assignment against the Bill-to BU of the Purchase Order. The same logic is already used while fetching the Supplier sites in Payables Invoice page.

Supplier Site assignment against the Bill-To BU of the PO

Supplier Site Assignment Against the Bill-To BU of the PO

Supplier Site LOV in Supplier Portal before the change

Supplier Site LOV in Supplier Portal Before the Change

Supplier Site LOV in Supplier Portal after the change

Supplier Site LOV in Supplier Portal After the Change

Business benefits include:

  • Simplify the entry of invoices into the Supplier Portal by narrowing down the supplier sites available for selection based on the purchase order bill-to business unit context.
  • Such improvements with simplified entry of invoices using the Supplier Portal can encourage suppliers with small to medium-sized volumes to enter more invoices through this channel.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  • By default, the PO supplier site is populated on the invoice in the Create Invoice UI of Supplier Portal. In the Create Invoice page of Supplier Portal, the user can update the invoice with a different supplier site, because the PO site can be different from the invoice site.
  • This feature consistency of the Supplier Site LOV logic in both the Supplier Portal and the Create/Edit Invoice pages.

Key Resources

Invoice Hold Placement and Release for Expense Reports Using a REST API

Place invoices on hold and release holds with reason codes using the Invoice Holds REST APIs. This allows users to place invoices on hold and release them, simplifying the payment processing workflow.

Business benefits:

Optimized payment processing efficiency and risk mitigation. With the Invoice Holds REST APIs, users gain the capability to place invoices on hold and release them with designated reason codes. This functionality plays a crucial role in scenarios such as payment rejections, discrepancies in billing, or pending dispute resolutions. By swiftly implementing holds and releases through automated processes, businesses can navigate payment intricacies with agility, reducing the risk of erroneous transactions and optimizing cash flow management. This results in significant time and cost savings, ensures financial accuracy, and fortifies overall operational efficiency.

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

Embedded Banking Services with J.P. Morgan for SEPA Payments

Oracle B2B with J.P. Morgan is part of the Cloud ERP solution that provides businesses with a comprehensive view of their financial position to operate their day-to-day business finance effectively.

The solution provides integrated banking and payment services enabled from turnkey connectivity between Cloud ERP and J.P. Morgan Payments for U.S. and Canada customers.  It includes synchronization of all bank account master data, and the requisite setup needed to automate funds capture/disbursement and continuous bank statement retrieval, processing, and reconciliation.  The integration also provides a seamless onboarding experience by automatically configuring connectivity using Oracle B2B and importing bank account master data.  The 24B update includes Funds Disbursement using SEPA (Single Euro Payments Area) for processing both the payment and the acknowledgement files for funds disbursement in the SEPA region using the embedded integration with J.P. Morgan.

The integration uses the J.P. Morgan message format based on ISO 20022 XML standards. This format facilitates payments in 36 countries (including some non-euro areas and non-EU countries) where SEPA payments are accepted. The integration provides the acknowledgement processing feature with complete file retrieval and processing automation. It processes L0, L1 and L2 acknowledgement files generated by J.P. Morgan at various points in the clearing flow. The invoice status changes from Paid to Unpaid for rejected payments, allowing users to take corrective action. Users receive bell notifications indicating the successful completion or related issues for the payment batch and related acknowledgement processing.

Integration with J.P. Morgan enables seamless payment processing directly from Oracle Cloud ERP for SEPA payments, eliminating the need for manual intervention and reducing processing time.

Business benefits include:

  • This feature ensures compliance with ISO 20022 SEPA standards, minimizing payment errors and fraud risk, while meeting regulatory requirements in the SEPA region through secure payment channels.
  • Companies can manage all supplier payments, including SEPA, centrally within Fusion, providing better visibility and control over their financial operations.

Steps to Enable

To enable this feature you need to log a Service Request (SR).

Please refer to the 23D What’s New, Payables > Embedded Banking Services with J.P. Morgan, to familiarize yourself with the overall integration and requirements. 

Note that the Setup and Maintenance onboarding task “Manage Banking Configurations for J.P. Morgan” has been renamed “Manage Embedded Banking Configurations.”

Funds disbursement with SEPA payments provides the following preconfigured setups:

  • Payment System Account:  J.P. MORGAN_PSA
  • Payment Process Profile:  J.P. MORGAN ISO20022 SEPA
  • Payment Method:  J.P. MORGAN EFT Payment Method

As part of the integration with J.P. Morgan, you can also create payment files using the predefined BIP template J.P. MORGAN ISO20022 SEPA Format.

Tips And Considerations

  • Use SEPA as the Service Level Code.
  • Use the J.P. MORGAN EFT Payment Method as the Payment Method
  • The payer and payee bank account country should belong to the SEPA region.
  • Use payment currency as EUR.
  • Make sure the payer's bank account currency is EUR
  • Users can create their own payment process profile, but must use the preconfigured transmission setup related to this integration.
  • Log a service request for any transmission issues with outbound or inbound files.

The bank generates up to three payment acknowledgement files during the clearing process. Please refer to the 23D What’s New Content, Payables > Embedded Banking Services with J.P. Morgan, for more information on processing acknowledgements.

Key Resources

Access Requirements

You must have the Financial Application Administrator job role to establish connectivity with J.P. Morgan and review all related predefined and automatically configured Functional Setup Manager tasks.

Payments

Positive Pay File Generation and Transmission for Outsourced Checks

Banks verify that outsourced check payments are printed or voided as per the instructions shared in the positive pay file. The payment status in the bank is always reconciled and synced up with the corresponding status in the ERP application. Automatically generate positive pay files for outsourced check payments included in the electronic payment file. 

The enhancement to generate a Positive Pay File for outsourced check payments helps banks and business organizations to eliminate fraud and establish effective internal control on the payment and clearing activities.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

The positive pay file for the electronic payments uses the transmission configuration set up in the payment system. A new Payment System Account - Positive Pay Transmission Configuration is predefined in the ISO20022 Payment System.

Name - Positive Pay File Transmission Configuration

Code - POSITIVE_PAY_TRANSMIT_CONFIG

The transmission configuration must be added to the ISO20022 payment system and this must be attached to the payment process profile. Alternatively, users can add the same payment system account setting to other payment systems and attach the same to the payment process profile.

Key Resources

  • Additional Information for 24B feature: Positive Pay File Transmission for Outsourced (Electronic) Checks - Steps to Enable (Doc ID 3021594.1).

Simultaneous Usage of Multiple Payment Gateways

Use multiple payment gateways simultaneously in a single environment for tokenizing customer credit cards. This provides the funds capture setup greater versatility and allows customers to use alternative payment gateways owing to the constraints of each payment gateway, such as geographic coverage, supported currencies, supported industries, and cost disparities.

Use the Tokenization and Transaction Routing Rules region in the Manage Routing Rules page to configure credit card instruments. Along with the existing business unit parameter, you can configure multiple merchant identifiers based on a variety of business parameters, including currency, payer, payer country, business unit country, and source product. By first configuring multiple tokenization payment systems and payment system accounts, and then configuring the routing rules based on the combination of business unit and other parameters, multiple payment gateways and associated merchant identifiers can be used concurrently. 

Tokenization and Transaction Routing Rules

Tokenization and Transaction Routing Rules

To understand the functionality, consider a scenario in which a deploying organization uses two payment gateways, i.e., Gateway1 and Gateway2. There are two merchant identifiers with Gateway1 and one with Gateway2, each dedicated to transactions involving certain business units and currencies. The flow diagrams below illustrate the process of determining the appropriate payment system and payment system account using the tokenization routing rules during token creation.

Usage of Tokenization Routing Rules

Example of Tokenization Routing Rules

The tokenized credit card now permanently stores the payment system and payment system account. The transaction routing rule evaluation simply determines the funds capture process profile using the credit card token's payment system account and transaction contextual attributes. The credit card LOV on transactions now only displays filtered tokens based on real-time routing rules executed on transaction contextual attributes.

Edit Credit Card Page

Edit Credit Card Page

Routing rule evaluation based on transaction contextual attributes determines the payment system account of tokens imported with orders or invoices in Order Management or Receivables. The legacy tokens import spreadsheet template allows for the direct specification of the payment system account when migrating existing tokens from the legacy system. If it is not specified, the payment system account is determined by evaluating routing rules using transaction contextual attributes.

After enabling this feature, existing credit card tokens will be automatically updated with payment system and payment system account information. The data update process begins automatically, either when defining the tokenization and transaction routing rules or while performing the settlement process, whichever occurs first after enabling this feature. The Import Security Credentials process will update the tokens when it is started after configuring tokenization and transaction routing rules, whereas Submit Offline Transactions process will update the tokens if the settlement occurs first after enabling this feature.

Business benefit:

Concurrent use of multiple payment gateways with multiple merchant identifiers can be configured based on various business parameters to meet unique business, industry, or geography requirements.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: Financials

Before enabling this feature, the credit card common architecture and settings described in the Payment Gateway Integration and Credit Card Processing guide at the link below must be enabled in the environment as a prerequisite.

https://www.oracle.com/webfolder/technetwork/docs/fin-pci-compliance/PaymentGatewayIntegration.pdf

Use the following steps to perform the additional required configuration -

  1. Navigate to Setup and Maintenance.
  2. Select the Setup Offering: Financials.
  3. Click on the Functional Area: Payments.
  4. Click on the Setup Task: Manage Internal Payee.
  5. Enter the name of internal payee and perform search.
  6. Select the payee record in the search results and click on the button: Manage Routing Rules.
  7. Navigate to the region: Tokenization and Transaction Routing Rules.
  8. Select Credit Card payment method from the dropdown and click on create button.
  9. Following page opens: Create Routing Rules.
  10. Create routing rule with Business Unit as one of the rule criteria and save and close.
  11. Use Reorder Priority button to change the priority of various routing rules.
  12. Save the changes.

Tips And Considerations

  • Before using this functionality, the deploying organization should determine the criteria for multiple merchant identifiers. As the business unit is a payment system account attribute, it is recommended that separate merchant identifiers and routing rules be based on the business unit. If multiple payment gateways are used to cover different countries and currencies, the currency should be added as a criterion for multiple merchant identifiers. Following table presents available and recommended parameters when using multiple payment gateways.Recommanded Criterion for Routing Rules

    Recommended Criterion for Routing Rules

  • The source product should not be used for two-step or card-on-file transactions initiated by products such as Order Management, Subscription, Receivables, Bill Management, Collections, and Student Cloud, where authorization and settlement can occur within a product other than the source product that tokenized the credit card.
  • If currency is used as a routing rule criterion, token creation directly on the customer site through the user interface should be avoided since currency is not available as a parameter when creating tokens at the customer site level.

  • If a business situation necessitates the ability to avoid the routing rule review during authorization, this can be accomplished by supplying the value of the funds capture process profile on the token via the user interface.

  • As a best practice, the routing rules should be tested in the test environment with all of the deploying organization's token creation and authorization business flows, such as import, creation, or selection via LOV on the user interface, before enabling them in the production environment.

Key Resources

  • Use following guides to learn more about credit card payment processing in Payments
  1. Learn about payment gateway integration and credit card processing
  2. Configure formats to integrate with your preferred payment gateway
  3. Learn about Fiserv SnapPay integration and credit card processing

Access Requirements

No additional access requirements are needed to use this feature.

Receivables and Cash

Receivables

Automation of Invoicing and Receipt Applications for Advance Payments

Prepayment is the process in which a customer makes a partial or full payment in advance for your goods or services. 

Countries with transactional taxes legally require companies to issue a taxable document following or preceding the actual advance payment. The document is commonly called "Customer Prepayment Invoice”. You create prepayment invoices to record advance payments against, for example, a sales order or purchase order for goods and services.

Use AutoInvoice to create prepayment invoices for advance payments from customers against transactions originating from third party or external sources.

When it is time to apply a prepayment invoice to a sales invoice, the original accounting and tax lines of the prepayment invoice lines are reversed and the outstanding balance of the sales invoice is reduced or closed by the amount applied.

Business benefits include:

  • The prepayment invoice supports regular invoice processing, including credit memos, receipt applications, and document sequencing.
  • Prepayment invoices help the business with accurate receivables estimates by tracking a customer's advance payments.
  • The Prepayment Invoice does not affect the revenue account when it is accounted and will only credit a Prepayment Account.

Steps to Enable

Before you create and apply prepayment invoices, complete these setup steps:

  • Create prepayment receivables activities.
  • Set up prepayment transaction types.
  • Create Subledger Accounting rules. 

1. Create Prepayment Receivables Activities.

Use the Manage Receivables Activities page to create a Prepayment Receivables activity for each business unit that will create and use prepayment invoices.

  • Set the GL Account Source field to Activity GL Account.
  • In the Activity GL Account Source field, enter the account where prepayment invoice distributions will be created.
  • Set the Tax Rate Code Source field to None.

Prepayment Receivable Acitivity

Prepayment Receivable activity

2. Create Prepayment Transaction Types.

Create one or more prepayment transaction types with the Transaction Class of Invoice and the Transaction Subclass of Prepayment.

  • Use a name that identifies the transaction type as a prepayment transaction type.
  • In the Transaction Class field, select Invoice.
  • In the Transaction Subclass field, select Prepayment.
  • Enable the Natural Application Only option. You cannot use overapplication on prepayment invoices.

Prepayment Transaction Type

Prepayment Transaction Type

3. Configure Subledger Accounting Rules.

Set up new journal line rules and journal entry rule sets in Subledger Accounting for the Invoice and Credit Memo event class, to create line amounts in the Prepayment account. Assign the new rules and rule sets to the accounting method used in the Specify Ledger Options setup.

Event Class: Invoice

  1. Navigate to the Edit Journal Line Rule page. 
  2. Create a duplicate of the predefined rule Invoice Revenue and use it to create the rule Invoice Prepayment. 
  3. In the Accounting Class field, select Prepayment.
  4. Enter the Condition: "Transaction Distribution Account Class" = ORA_PREPAYMENT 'And' "Rounding Correction Indicator" Is null. Prepayment Invoice Journal Line Rule
  5. Create a custom Journal Entry Rule Set by duplicating the predefined journal entry rule set "Invoices - Default Accrual" and add the new journal line rule that you created above.

Event Class: Credit Memo

  1. Navigate to the Edit Journal Line Rule page. 
  2. Create a duplicate of the predefined rule Credit Memo Default Revenue and use it to create the rule Credit Memo Prepayment.
  3. In the Accounting Class field, select Prepayment.
  4. Enter the Condition: "Credit Memo Distribution Account Class" = ORA_PREPAYMENT. Prepayment Credit Memo Journal Line Rule
  5. Create a custom Journal Entry Rule Set by duplicating the predefined journal entry rule set "Credit Memos - Default Accrual" and add the new journal line rule that you created above.

Create Prepayment Invoices

  1. Download the AutoInvoice Import FBDI spreadsheet. 
  2. Populate prepayment invoice lines in the spreadsheet. 
  3. Generate the CSV file and import it into Oracle Universal Content Management (UCM). 
  4. Submit the Load Interface File for Import process to load the invoice lines into the AR Interface table. 
  5. Submit the Import Receivables Transactions Using AutoInvoice process to create the prepayment invoices. 

NOTE: The transaction source assigned to AutoInvoice must have the Invalid Line field set to Reject Invoice. 

       6. Review the prepayment invoices in the Manage Transactions page.

Apply a Prepayment Invoice to a Sales Invoice

  1. Populate the prepayment lines in AutoInvoice Import FBDI spreadsheet with negative amounts, along with the sales invoice lines.
  2. Populate additional Line DFF attributes for any prepayment application lines. 
  3. The combination of additional line DFF attributes must match the combination of the line transaction DFF attributes in the prepayment invoice.
  4. Generate the CSV file and import it into Oracle Universal Content Management (UCM).
  5. Submit the Load Interface File for Import process to load the invoice lines into the AR Interface table.
  6. Submit the Import Receivables Transactions Using AutoInvoice process to apply the prepayment invoice to the sales invoice.

NOTE:

  • Prepayment invoice holds the outstanding Prepayment balance that can be applied to other Sales Invoice(s).
  • Prepayment invoice will account the balance to the Prepayment account; this doesn't impact the revenue account.
  • Prepayment accounting entries of the sales invoice with applied prepayment lines will be reversed and the actual revenue booked.

Tips And Considerations

  • You can only create prepayment invoices and apply them to sales invoices using the AutoInvoice FBDI and the Import AutoInvoice process. SOAP, REST API, and manual transaction creation are not supported.
  • Invoices must be Complete.
  • Prepayment and Sales Invoice creation and application is only supported in the ledger currency. Foreign currency transactions are not supported.
  • Other transaction activities, including credit requests, disputes, and adjustments, on prepayment invoices and sales invoices with prepayment lines are not supported using SOAP, REST API, and AR transaction pages.
  • You can only credit full prepayment invoice or sales invoice having prepayment application lines. Partial credits are not supported.
  • Overapplication on prepayment lines or prepayment application lines (sales invoice) is not supported.

Access Requirements

  • Accounts Receivable Manager
  • Accounts Receivable Specialist
  • Billing Manager Segregated Role
  • Billing Specialist Segregated Role

Revenue Management

Revenue Allocation and Recognition in Transaction Currency

Allocate revenue for contracts in the transaction currency for nonledger currency-denominated transactions. This enables accounting of recognized revenue using current exchange rates.

Organizations engaged in commerce in currencies other than their local currency can model their revenue contracts in its transaction currency when it is the contract currency. You can use the transaction currency consideration value as the basis for the revenue allocation and recognition of both ledger and nonledger currency-denominated revenue contract performance obligations. When modeling, the transaction currency values of the transaction price and standalone selling prices are used to drive the allocation. It is in that currency, that the revenue contract is modeled and displayed.

This feature allows organizations engaging in multicurrency commerce to:

  • Enable accounting of recognized revenue, receivables, assets, and liabilities using current exchange rates, and facilitates compliance with ASC 830 and IAS 21.
  • Indicate the foreign currency treatment of performance obligations as monetary or nonmonetary.
  • Use native Oracle General Ledger revaluation functionality to derive and record unrealized foreign currency gains and losses when truing up your balance sheet to current rates.
  • Support comparison analysis by providing flexibility to change the ledger’s assigned Allocation Currency Basis system option and Foreign Currency Treatment performance obligation identification rule without reconfiguring a new ledger or creating new performance obligation rules. Changes are applied to new and unprocessed revenue lines.

Allocation Currency Basis

Use the newly introduced ledger level Allocation Currency Basis option to designate the currency basis to use to drive your revenue allocation and recognition calculations.

Manage System Options for Revenue Management

When you set this option to Entered, revenue contracts and the underlying performance obligations are modeled using the transaction currency amount of the source document lines as the driving values for the allocations. The application establishes and allocates the contract and performance obligations in the transaction currency amounts. This applies to both ledger and nonledger currency-denominated transactions for the selected ledger.

Billing and receivables activities are deemed monetary and use current rates. Performance obligations are committed and expected future deliverables are valued at the expected consideration amount and unknown exchange rates are also valued at current rates. However, when the revenue value allocated is billed or collected in full and not subject to further change, an obligation may be nonmonetary and is converted at the rate of the initial recognition.

Therefore, when the revenue contract’s entered currency is a nonledger currency-denominated, the billing accounting distributions are converted using the conversion rate as of that transaction’s date. Revenue recognition is valued at the rate for the period in which the revenue occurred.  Alternatively, if the performance obligation is determined to be nonmonetary, revenue can be recognized at historic rates. That is:

  • When the performance obligation is designated as monetary, invoicing and satisfaction date rates, are the current period base rates.
  • When the obligation is designated as nonmonetary,  the satisfaction transaction date and rate date is the performance obligation’s initial performance date.

In contrast, when modeling using the Accounted option, the application invokes the existing functionality, in which nonledger currency-denominated contracts are translated at contract inception to the ledger currency. The application established the contract consideration in the ledger currency. This amount is used as the basis for revenue allocation and recognition.

When using this feature, the Revaluation process in General Ledger is configured to revalue the contract asset account balances and the performance obligation account balances. The Revaluation process operates at the portfolio (general ledger balance) level, and its foreign exchange entries are visible only in General Ledger.

Upon uptake of the release, in support of backward compatibility, the Allocation Currency Basis for existing ledgers is set to Blank. The value of Blank indicates that Revenue Management is using the original logic for treating non-ledger currency denominated revenue contracts.

When adding new ledgers, the allocation currency basis is set to Entered, because this approach provides organizations the benefit of both methods. If you set the Allocation Currency Basis option to Entered and the Foreign Currency Treatment to nonmonetary on the performance obligation, you receive the same results as if modeling using the existing Revenue Management functionality, in which the contract consideration is converted using a single rate and held constant. The only difference is that the rate used is the performance obligation’s initial performance date rather than the contract’s inception date across all performance obligations. If you want to continue using the original approach, you can modify the default setting.

If you are unsure which approach is appropriate to achieve your revenue policies, you can run a test data set of contracts in a test environment, and then switch the setting and discard and reprocess the contracts. This allows you to compare the accounting results between the two different approaches and determine which is more aligned with your needs without impacting your existing contracts, because the change is only applied to new and unprocessed lines.

Contracts created before activation of this feature will continue to be processed under that method until the end of their life cycle or when you discard the contract.

Foreign Currency Treatment Designation

For organizations who engage in agreements where the terms and conditions dictate that payment of goods and services are made in advance in full for their nonledger currency-denominated contracts and their revenue policies interpret ASC 606 Section: 830-20-30-01 as requiring the obligation contract balances to be treated as non-monetary, a new option is available to address this requirement.

You can now designate the desired treatment as part of the performance obligation identification process. A new attribute, Foreign Currency Treatment, is available in the Manage Performance Obligation Identification Rules page.

With this setting, you can designate the contract balance accounts for the resulting performance obligations as monetary or nonmonetary in accordance with your business practices.

You can use an extensible attribute to capture this information as part of the ordering process and use it when identifying your performance obligations to designate the foreign currency treatment for the contract accounts.

The application converts accounting distributions for nonmonetary performance obligations to the accounted currency using the exchange rate as of the initial performance date of the obligation, regardless of the date of occurrence. The premise is that the obligation is paid in full and the amount of revenue to be recognized is fixed and not subject to fluctuation in changes in exchange rates.

Conversely, for performance obligations that are not paid in full up front, the contract account balances are designated as monetary and the balances are converted using current rates.

This treatment affects the accounting of the contract liability accounts and revenue entries only.

Invoicing and billing is always converted using current rates.

Manage Performance Obligation Rule - Results Region

Because performance obligation identification rules are not ledger specific and are shared across ledgers, you can continue to use your existing rules.

Create Performance Obligation Identification Rule

Alternatively, when creating new performance obligation rules, you can select the Foreign Currency Treatment by navigating to the attribute in the header region of the Create Performance Obligation Identification Rule page.

Because the designation is only applicable when processing source document for ledgers with the Allocation Currency Basis assignment set to Entered, you can set the designation on your existing In Use rules as long as your existing rule definitions support the appropriate grouping criteria. The setting is applied when processing new and unprocessed source documents from that point forward.

When processing source documents for ledgers where the Allocation Currency Basis assignment is Accounted or Blank, the designation is ignored.

After contract and performance obligation identification, if the accounting treatment is not in line with your policies, you can change the assignment in the performance obligation rule and then discard the contract. Upon re-identification of the contract, the application applies the latest performance obligation identification rule settings.

Conversion Rate Type and Rates

The feature works in conjunction with the existing available options for defining which conversion rate type is used. The application uses the existing settings for the Conversion Rate Type and the Disable Override from Source option that you specified on the Manage System Options for Revenue Management page. Revenue Management uses the conversion rate types and rates defined and maintained within the General Ledger daily rates structure.

During the Recognize Revenue for Customer Contracts process, accounting distributions are created and converted if necessary. If a conversion rate is not defined in the General Ledger daily rates table for the conversion rate type and date, the accounting distributions are not converted and a warning message is logged in the  output file of the process. The next time the process is executed,  the unprocessed distributions are reprocessed until a rate is available to convert the distribution. At this time the unprocessed distributions are eligible for processing by Oracle Subledger Accounting and posting to General Ledger.

Thresholds -  Application and Evaluation

Revenue Management supports three types of thresholds. Revenue Management displays the revenue contracts that meet the thresholds in the applicable Revenue Management work area tab.

For the initial release of this feature, threshold application and evaluation will continue to be based on the applicable accounted amount of the contract derived using the conversion rate at contract inception.  The amount entered in the threshold parameter is to represent the ledger currency equivalent.

  • Transaction Price Exemption Threshold - Uses accounted transaction price at inception.
  • Transaction Price Revenue Threshold - Uses accounted transaction price at inception.
  • Discount Threshold - Uses accounted allocated amount at inception.

Accounting

Subledger Accounting Source - Foreign Currency Treatment Indicator

To facilitate the General Ledger Revaluation process, use the performance obligation level Foreign Currency Treatment indicator Subledger Accounting source to customize you accounting rules to designate which  contract liability balance sheet account your monetary and nonmonetary journal entries are booked. This allows you to direct your accounting distributions to a separate contract liability account within your General Ledger in support of the Revaluation process, because a performance obligation’s contract liability balances designated as nonmonetary are exempt from revaluation.

Billing – Price Variance

The calculation of the price variance is a measurement of the pre-recognition changes due to foreign exchange on the obligation before the allocation valuation is done, when  creating the obligation and asset.  As such, it is out of ASC 830 or IAS 21’s scope for foreign exchange  gain or loss accounting.

Realized Gains and Losses

As the Internal Revenue Service and other tax authorities do not authorize the inclusion of realized gains and losses for revenue and contract assets in the deductible realized gain number for tax reporting, this calculation is not required in Revenue Management or its supporting accounting within Revenue Management. The General Ledger Revaluation process handles the calculation of foreign currency gains and losses and the accounting .

General Ledger Revaluation

Revaluation is a process of adjusting the accounted value of foreign currency denominated balances according to current conversion rates. Revaluation adjustments represent the difference in the value of the balance due to changes in conversion rates between the date of the original journal entry and the revaluation date. The adjustments are then posted through journal entries to the underlying account with the offset posted to an unrealized gain or loss account.

All debit adjustments are offset against the unrealized gain account and all credit adjustments are offset against the unrealized loss account. If you specify the same account in the Unrealized Gain Account and Unrealized Loss Account fields, the net of the adjustments is derive and posted.

The purpose of revaluation is to true-up the liability or asset accounts that may be materially understated or overstated at period end using a month end exchange rate.

When using this feature, ensure that you included this process as part of your period close when your revenue contract portfolio consists of nonledger currency-denominated contracts.

See Oracle General Ledger – Accounting Period Close Process for more details.

User Interface Enhancements

Overview - Contracts Requiring Attention

In support of this feature, the Revenue Management Overview work area is expanded to include the new attributes. When viewing the contracts, the work area now displays the allocation currency basis for the contract, its foreign currency treatment indicator, and the relevant entered currency amount details.

Manage Customer Contracts

The Manage Customer Contracts page now displays the entered currency-related details, in addition to the new attributes, so that you can distinguish the allocation basis and foreign current treatment of the contract. These attributes are also available when you perform an advanced search.

Edit Customer Contract

When the contract is modeled using the Entered Allocation Currency Basis, the Edit Customer Contract page displays only the applicable contract details in the entered currency, because the accounted versions are no longer applicable. In the contract header, the revenue recognized to current period attribute displays the revenue recognized in both the entered and accounted currencies. This number represents the amounts that are final accounted and posted to the subledger.

Improved Reporting

Contract Activity Details Report

Contract Activity Details

The Contract Activity Details report now displays both the Entered and Accounted contract account balances for the revenue contract. The report is expanded to include the conversion rate date and rates used for the accounting events. Only accounting distributions that are final accounted are displayed.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  • Backdated Transactions:
    • If a contract has undergone an immaterial change and then subsequently receives a transaction that is dated earlier than the immaterial change date, the transaction is applied as a current dated transaction against the current contract value.
  • For nonmonetary performance obligations:
    • The exchange rate as of the established initial performance event date is used.
    • Once the initial performance event date is established, it is used for the life of the performance obligation. 
    • The exchange rate does not change due to receiving an earlier dated billing or satisfaction event.
    • You can revise the exchange rate only if the contract has not undergone an immaterial change by discarding the contract and recreating it.
  • Ledger and nonledger currency-denominated immaterial change accounting contracts are not eligible for processing by the Discard Customer Contracts process.
  • Returns
    • Returns are processed as material changes.  The transaction is reflected and converted as of the transferred source document line date or if blank, the system date.
      • This date is used as the rate date when the performance obligation is monetary.
      • The application creates a negative satisfaction event to undo any recognized revenue for the returned item and the revenue converted using the exchange rate for that date. 
      • The corresponding applicable credit memo is converted as of the credit memo date.
  • Performance obligations created from templates are treated as monetary.
  • Only ledger currency denominated contracts can be devolved.
  • The application retrospectively accounts revisions of performance obligations when the satisfaction plan name is Fixed or Variable Revenue Rate, Daily Rate Full Periods.
  • The application retrospectively allocates revisions for accounting contracts that were allocated based on residual standalone selling priced performance obligations.

Key Resources

Access Requirements

No new role access is required to use this feature.

Asset and Lease Management

Lease Accounting

Lease Amendments for Partial Scope Changes

Modify leases to increase or partially reduce the lessee's right to the underlying assets. Lease modifications to change scope include creating a new version of the lease, adjusting the right-of-use asset and lease liability on a basis proportionate to the partial scope change, and maintaining an audit of the changes.

An amendment to increase or partially reduce scope is accounted by remeasuring the lease liability and adjusting the carrying amount of the right-of-use asset. Additionally, a gain or loss is recognized when there is a decrease in scope. Scope decreases under IFRS 16 and Japanese GAAP are calculated based on the percentage of reduction in the leased area or units, whereas under ASC 842, they may optionally be calculated based on the percentage of reduction in lease liability.

The unit-based scope decrease method may be configured separately for primary and secondary standards under system options.

Define System Options for Unit-Based Scope Decrease Method

Define System Options for Unit-Based Scope Decrease Method

To modify leases to increase or partially reduce scope:

  1. Initiate action to Amend Lease for Scope Increase or Scope Decrease.
  2. In the Asset Details page, enter the new area or new units.
  3. Update payments as required.
  4. Validate, generate schedules, and activate the amendment.

Alternatively, use the Lease Amendment Import utility to import a batch of partial scope increase or scope decrease amendments directly into the desired status: Draft, Validated, Complete, or Booked.

The following screenshots describe the process of amending a lease for partial scope decrease of leased area or units:

Amend lease to partially reduce the leased area

Amend Lease to Partially Reduce the Leased Area

Amend lease to partially reduce the units of leased equipment

Amend Lease to Partially Reduce the Units of Leased Equipment

Business benefits include:

  • Ensure compliance with ASC 842, IFRS 16, and Japanese GAAP lease accounting for partial lease terminations.
  • Increase operational efficiency with streamlined lease amendments.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: FinancialsNo Longer Optional From: Update 24D

Access Requirements

You do not need any new role or privilege access to set up and use this feature.

Property and Equipment Leases for Japanese GAAP

Maintain lease contracts in a single repository and generate amortization schedules according to the Japanese GAAP. Once a contract is defined, Lease Accounting provides touchless capabilities to manage and process leases.

The booking process generates transactions for initiating the right-of-use asset and lease liability balances for expense leases. The lease accruals process periodically generates transactions for the lease liability expense and right-of-use amortization, which reduces the initial liability and right-of-use asset balances. For revenue operating leases, the lease accruals process generates transactions to recognize revenue evenly over the revenue recognition term.

Generating accounting in the primary ledger under the Japanese GAAP, and in the secondary ledger under another GAAP, ASC 842 or IFRS 16, is available for multinational organizations.

Configure lease system options to define Japanese GAAP as the primary or secondary accounting standard.

Configure System Options

Configure System Options

Business benefits include:

  • Enforcement of lease accounting policies consistently across the organization.
  • Automation of Japanese GAAP, ASC 842, and IFRS 16 lease processes, increasing productivity and reducing the risk of error.
  • Standardization of lease information in a single repository via actionable user interfaces.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: FinancialsNo Longer Optional From: Update 24D

Access Requirements

You do not need any new role or privilege access to set up and use this feature.

Revenue Lease Terminations Import

Use the Manage Options and Terminations Import utility to simplify end of lease activities for revenue leases, including exercising or canceling options and terminating leases. Exercise a lease option to automatically put into effect the right conferred by the option; either to shorten or extend the lease. Cancel a lease option if the option wouldn't be exercised in the future. Terminate a lease, fully or partially, if the lessor or the lessee needs to break the lease early. In all cases, the contract is automatically amended to adjust billing, revenue recognition, and accounting balances; and maintain an audit of the changes. The Manage Options and Terminations utility removes or reduces the need for manual intervention during the end-of-lease processes.

To process end of lease activities:

  1. Select Import Revenue Leases from the side-panel.
  2. In the Action Type parameter, select Import Revenue Leases.
  3. In the Subaction Type parameter, select Manage Options and Terminations.
  4. Complete the remaining parameters according to your requirements and submit the process.

Revenue Lease Manage Options and Terminations Import

Revenue Lease Manage Options and Terminations Import

Business benefits include:

  • Improve efficiency by performing multiple transactions through the Manage Options and Terminations import.
  • Reduce data entry effort with the import utility.
  • Streamline business processes by populating the import from originating systems.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: FinancialsNo Longer Optional From: Update 24D

Access Requirements

You do not need any new role or privilege access to set up and use this feature.

Region and Country-Specific Features

Brazil

Model 62 for Brazilian Fiscal Documents

Use the new Model 62 in Brazilian fiscal document generation. Companies in certain industries, including media and telecommunications, must use this new format in their electronic fiscal documents.

This Model 62 also referred as electronic communication service fiscal document is a replacement for the models 21 and 22 which will be decommissioned in April 2025.

NOTE: Model 22 contains detailed information related to landed or mobile phone services and third-party phone network usage, none of which is supported by Cloud ERP.

Prepare Cloud ERP to Generate Communication Service Fiscal Documents

  1. Create a new document sequence category and document sequence.

For more information about the configuration of document sequence for Brazil fiscal documents, see Define Localization Document Numbering.

  1. Create a fiscal document sequence with the new model 62.

Create Fiscal Documet Sequence page

Create Fiscal Document Sequence Page

  1. Create a document fiscal classification to identify the transactions eligible for communication service fiscal documents.
  1. Create a fiscal document generation control for the communication service fiscal document using the created document fiscal classification and the Fiscal Document Model type field to identify it.

Fiscal Document Geeration Control page

Fiscal Document Generation Control Page

NOTE: Although the tax authority allows the creation of a contingency fiscal document for communication service fiscal document, Cloud ERP currently doesn`t provide support for this flow. Customers must retry the fiscal document processing until it’s approved by the tax authority.

Create a Communication Service Fiscal Document

To create a communication service fiscal document, you must create a receivables transaction similar to what is required for regular service fiscal documents. You must also provide the document fiscal classification to identify whether it will be used for a communication service fiscal document.

Once the transaction is created and the fiscal document is requested, you must provide the new specific fiscal attributes related to a communication service fiscal document:

Update Fiscal Attributes page

Update Fiscal Attributes Page

If the Issuing Purpose is Adjustment, you must indicate which previous approved communication service fiscal document and line are being adjusted.

Update Fiscal Attributes page for Adjustment

Update Fiscal Attributes page for Adjustment

Enhanced Fiscal Document Extract

These new elements related to communication service fiscal document are implemented in the output file of the Send Fiscal Document to Tax Authority process:

Fiscal Document XML Tags

Fiscal Document XML Tags

Business benefit:

Create and process electronic communication service fiscal documents (model 62).

Steps to Enable

You don't need to do anything to enable this feature.

National Service Fiscal Documents for Brazil

Work with the recently introduced national system for service fiscal documents in Brazil. This feature provides an option to users who would like to use the new national system.

The national tax authority processes the national service fiscal document centrally compared to the current service fiscal document where each city has its own processing and document layout.

To use this option,  you must create a new city inscription tax registration using a new Tax Registration Status:

  1. Navigate to Manage Standard Lookups and search for the Lookup Type ZX_REGISTRATIONS_STATUS.
  2. Add a new Lookup Code NATIONAL_SERVICE.
  3. Save and Close.

Manage Standard Lookups page

Manage Standard Lookups Page

  1. Navigate to Manage Tax Registrations.
  2. Add a new tax registration for a legal reporting unit.
  3. Enter the required data and select the Tax Registration Status that you created.
  4. Save and Close.

Manage Tax Registrations page

Manage Tax Registrations Page

NOTE: The regular service fiscal document and the national service fiscal document system will not coexist. You must set the end date for the existing tax registration before you add a new tax registration If you are already using the regular service fiscal document for the same city, check the migration date with the city tax authority.

You must create a document sequence and fiscal document generation control for the national service fiscal document.

For more information about the configuration of document sequence for Brazil fiscal documents, see Define Localization Document Numbering.

The steps to create a national service fiscal document are the same as that of a regular service fiscal document. Here are some processing differences:

  • The national service fiscal document has only a single line hence all receivables transaction lines will be consolidated in a single line in the fiscal document extract along with respective taxes. By default, the fiscal document line description will inherit the first transaction line description, but you can provide a more meaningful description at the Update Fiscal Attributes UI or in the Import Outbound Fiscal Attributes FBDI.
  • The system will generate a fiscal document key (DPS Key) once the fiscal document is generated.
  • The tax authority will return a service fiscal document key with the fiscal document number once the fiscal document is approved.

The national service fiscal document cancellation also follows the same steps as that of  a regular service fiscal document cancellation.

For more information about the creation and processing of fiscal documents, see Overview of Manage Generation of Fiscal Documents.

For more information about fiscal document cancellation, see Overview of Managing Fiscal Document Variations.

NOTE: Although the tax authority allows  fiscal document substitution, it is currently not supported by Cloud ERP. You must cancel the fiscal document and create a new one.

Business benefit:

Create and process a national service fiscal document using the new national system provided by the national tax authority.

Steps to Enable

You don't need to do anything to enable this feature.

Financials for EMEA

Tax Authority Allocation Numbers in VAT Reports for Israel

Include the allocation number in VAT reports for Israel. Starting 2024, VAT reports in Israel must include part of the allocation number issued by the tax authority, as a unique identifier for each invoice.

As part of their economic plan for 2023-2024, the Israeli government has decided to introduce a continuous transaction control model to prevent the issuance of falsified invoices and tax fraud. The mandate will be applicable to Business-to-Business (B2B) invoices, with the initial limit for each transaction of over 25000 NIS. This limit will be lowered every year based on a given schedule. The request will use API technology and the tax authority must provide this unique identifier prior to the issue of that invoice. This tax authority approval is a mandatory prerequisite for printing these transactions and claiming VAT.

A Global Descriptive Flexfield Attribute has been reserved to accommodate this unique identifier at the Receivables Invoice level. Using a specific API, the transactions exceeding a specific amount (the limit is defined by a lookup) are extracted and sent to the Tax Authorities for the assignment of an Allocation Number to each transaction. A different process updates the Global descriptive flexfield of the transactions in the system with the Allocation Numbers provided by the Tax Authorities.

Business benefit:

Conforms to the new legal requirement of the Israeli Tax authorities for the introduction of continuous transaction control, with support for the assignment of the allocation number to eligible transactions.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

You may need to work with a local Service Provider to interact with the Tax Authority portal. The tax authorities provide the allocation numbers that are uploaded to Oracle ERP Cloud to be registered against the corresponding transactions.

Key Resources

Access Requirements

No special setups required

India

Quantity-Based Tax Calculation for Price Adjusted Orders in Ship and Bill Flows

Streamline quantity-based tax calculation for the sales order adjustment lines in ship and bill flows in India.

In India GST Regime, there are certain goods on which the GST Compensation Cess is a fixed amount as per quantity, rather than a percentage. These taxes are configured as Quantity based Taxes in ERP Cloud. Today, while executing India FDG (Request Fiscal Document) in an Order to Cash cycle, when there is a price adjustment (using price override) in the Sales Order line due to which the adjustment line is added as a charge component and is passed as separate line in FDG with quantity updated in it. This is causing the Quantity based taxes to be computed twice.

Common use case is that the customers have setup the list price of the item to be 0 INR so that 0 INR is defaulted on SO line in first place. User will change/override the unit price on the sales Order from Rs 0 to say 1000 INR or any value based on negotiation with customer. Now when they create shipment for this sales order and generate fiscal document, two lines are displayed in FDG with quantity updated in each of the lines. Due to this, the quantity based tax rates are calculated twice.

When the original list price of the item is updated, this additional adjusted price is stored as one of the charge components in Order Management due to which in ship & bill flows, the additional charge component is passed as separate lines in India FDG. Also the adjustment line is passed with same quantity as the parent line. This is causing issue in tax calculation for quantity based taxes.

This feature ensures that for quantity based taxes, the Fusion tax engine does not consider the quantity on the additional charge lines while executing the India Fiscal Document. The Quantity based Tax calculation happens only on the parent line and not on the adjustment lines.

Business benefit:

This feature helps the GST department in an organization to correctly calculate the Quantity based taxes (GST Compensation Cess) in a Ship and Bill flow, wherever applicable, when any price adjustment is made in Sales Order lines or any additional charges or discount is applied on the Sales order line, helping them to get the clearance from the Tax authorities through India E-invoicing on such taxes without any error.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  1. This feature is also applicable for Discounts, freight charges, Shipping charges etc.
  2. This feature does not have any impact on Percentage based tax calculation.
  3. The scope of this feature is limited for Ship and Bill flows where Tax is calculated at Shipment (India FDG). 

Key Resources

U.S. Federal Financials

U.S. Federal Financials

Change Management for U.S. Federal SAM Suppliers in ERP

Use the Supplier Profile Change Management workflow to configure and audit manual updates to the System for Award Management (SAM) suppliers. This will enable continued synchronization of recipient information with the SAM updates from GSA.

Configure rules for SAM profile change approval to automatically approve or reject any changes to supplier information by internal users.

The internal change management process applies to supplier’s addresses, bank accounts, organization details, and income tax. When a user makes changes to them, a change request is submitted and routed for approval, and is automatically approved or rejected based on your configuration.

To prevent manual changes to SAM supplier information, you need to configure these 3 approval rules:

Rule

Purpose Condition Action

Approval Rule 1

Autoreject changes to supplier information if the supplier is a SAM supplier.

Regional Information Equals FVxUSPOZSuppliers

AND

Change Request Organization detail Global Attribute 3 Equals to Y

Autoreject

Approval Rule 2

Autoapprove changes to supplier information if the supplier isn’t a SAM supplier.

Regional Information Equals FVxUSPOZSuppliers

AND

Change Request Organization detail Global Attribute 3 Does not equal Y

Autoapprove

Approval Rule 3

Autoapprove changes to supplier information if the Regional Information attribute is set to a value other than FVxUSPOZSuppliers.

Regional Information Does not equal FVxUSPOZSuppliers

Autoapprove

Business benefit:

This provides the capability to configure the SAM supplier profile change approval rules and use them to automatically approve or reject changes to SAM supplier information, thereby ensuring that the required SAM validations are performed.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

No specific tips and considerations needed.

Key Resources

  • For more information on SAM, refer to the Implementing U.S. Federal Financials and Using U.S. Federal Financials guides.

Access Requirements

Use the following job roles:

  • Financial Application Administrator
  • Federal System for Award Management Administrator

GTAS Reporting for U.S. Federal

Use the Government-wide Treasury Account Symbol Adjusted Trial Balance System (GTAS) reporting feature to generate full budgetary and proprietary trial balance data along with federal attributes for monthly reporting to the US Treasury. This feature includes the accumulation process to associate attributes with journal line data, bulk file creation process to report trial balance data in the Treasury-defined format, exception reports, GTAS trial balance report, GTAS transaction register report, and GTAS interface report. The enhanced functionality provides flexibility to the user to map federal attributes in the application.

The Manage Federal Attributes page provides a flexible and transparent page to map federal attributes to Fusion fields and lookups. Attributes can be mapped to GL accounts, funds, ledger segments, suppliers, purchase orders, and federal attribute supplemental rules.

The Federal Attribute Supplemental Rules page maps Fusion segment combinations to federal attributes and overrides previously assigned attribute assignments.

The GTAS Accumulation process selects source data from GL Journal Header and Lines tables, associates them with GTAS attributes, and stores the data in the Federal Balances table for reference.

The GTAS Balances page allows users to review the results of the GTAS Accumulation program before creating the bulk file. If the user finds an issue with the source data or attributes, the user can make the required changes and then rerun the Accumulation program.

The GTAS Bulk file process creates the GTAS balances in a format that can be uploaded to GTAS.

Several reports are created to assist with error handling and reporting.

  1. The Accumulation Exceptions report lists any high-level editing issues identified in the Accumulation process, while the Bulk File Exception report identifies issues found in the GTAS Bulk File Creation process.
  1. The GTAS Bulk File Interface Report provides the USSGL account balances and attributes that are captured in the GTAS bulk file. The report is generated from data reported in the bulk file.
  1. The GTAS Trial Balance report includes USSGL balances at the GTAS attribute level of detail and is run ad hoc.
  1. The GTAS Transaction Register Report includes USSGL journal line activity at the GTAS attribute level of detail. This report is generated during the Accumulation process.

Business benefits include:

  • GTAS is the primary means of reporting agency trial balance data, including proprietary financial reporting information and information about budget execution, to the Department of the Treasury.
  • Fiscal Service uses that information to meet its requirements from the Office of Management and Budget (OMB) and to compile the Financial Report of the U.S. Government.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

No specific tips and considerations needed.

Key Resources

  • For more information on GTAS Reporting, refer to the Implementing U.S. Federal Financials and Using U.S. Federal Financials guides.

Access Requirements

Use the following roles:

  • Financial Application Administrator job role
  • GTAS and Data Act Reporting duty role

Year End Close for U.S. Federal

US Federal agencies can close accounts and carry ledger amounts forward at the end of the fiscal year according to Office of Management and Budget (OMB) requirements. The process includes liquidation of unobligated commitments, generation of closing entries in General Ledger, and carrying forward obligated balances to the next fiscal year. A US Federal-specific Year-End Closing Journals report will be created that agencies can use to reconcile with the GTAS Trial Balance report.

Fusion General Ledger Allocations Calculation Manager is leveraged for the US Federal Year-End Close solution. Following are the high-level solution steps for Federal GL year-end close:

  1. Configure closing rules in Calculation Manager.
  2. Close open requisitions in Purchasing.
  3. Generate pre-closing journal entries in Calculation Manager (optional).
  4. Run preliminary year-end close journals report in Calculation Manager.
  5. Run Year-End Closing Journal Status Report.
  6. Generate final year-end close journals in Calculation Manager.

Business benefit:

The year-end closing process generates the required year-end closing entries which are reported to the Department of Treasury through the GTAS bulk file. Fiscal Service uses this information to meet its requirements from the Office of Management and Budget (OMB) and to compile the Financial Report of the US Government.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

No specific tips and considerations needed.

Key Resources

  • For more information on year-end close, refer to the Implementing U.S. Federal Financials and Using U.S. Federal Financials guides.

Access Requirements

Use the following job roles:

  • Financial Application Administrator
  • Federal Year-End Close Manager