Re: Oracle Reports Flat Growth As Cloud Segment Booms
Nelson Suggs
This guide outlines the information you need to know about new or improved functionality in this update, and describes any tasks you might need to perform for the update. Each section includes a brief description of the feature, the steps you need to take to enable or begin using the feature, any tips or considerations that you should keep in mind, and the resources available to help you.
You can now configure setup attributes for audit from the Setup and Maintenance work area to maintain internal control over the validity of the enterprise transaction system. After configuration, you can track changes to these attributes using the Audit Report.
Receivables and Collections users can now enter internal comments and customer comments both when creating a dispute and tracking the dispute across related transactions. The enhanced dispute functionality includes:
Receivables and Collections users can now raise a partial dispute on a transaction by changing the default dispute amount to an amount between 0.00 and the original invoice amount, less the amount of any existing disputes already in the process of approval.
Receivables and Collections users can review the dispute details, including the credit memo request number, dispute amount, credit memo reason, and internal comments, in the Notes window of the Review Transaction page.
In Receivables, the user can change the default dispute amount. The user can enter an updated dispute amount anywhere between 0.00 and the original invoice amount, less the amount of any existing disputes already in the process of approval.
A delegate is a person who is authorized to perform expense entry for you. Previously, only individual users could designate expense entry delegates for themselves. Expenses now allows administrators to perform delegation on your behalf. An administrator can designate an expense entry delegate on behalf of any user in the company.
Several industries have enacted gifts and entertainment regulations to provide transparency and to curtail the amount spent on individuals to prevent gift recipients from influencing business decisions. Expenses now makes it easier for you to capture attendee data for all expense categories to comply with local and industry-specific regulations. You can now assign an entertainment policy with only data capture controls to any non-entertainment expense categories. When you enter an expense associated with an attendees-only entertainment policy, the application enforces the entry of attendee and recipient details.
You can configure company-specific information capture at the expense report level by enabling descriptive flexfields. Descriptive flexfields at the expense report level can be used to capture additional travel and expense details that are specific to your company. The descriptive flexfield, Expenses Report Header, allows you to configure the following:
When the Allow Password Storage in Mobile Application field is set to No, users do not see the Save Password Locally option and the Logout button in the Settings screen of their Expenses mobile application. Users are prompted to sign in each time they access the mobile application.
To configure the Merchant field for entertainment expenses, Expenses has added Merchant as a configurable field for Entertainment expense category. Company policies may require certain entertainment expenses to enforce merchant data capture. You can now configure the Merchant field's visibility as Required, Optional, or Hidden.
Expenses has made it easier for you to group payments for your corporate card issuer payment requests by assigning a pay group. You can assign a pay group to corporate card issuer payment requests by selecting the applicable pay group on the Create Company Account page. The Process Expense Reimbursement process assigns the pay group to the payment requests for the corporate card issuer.
Expenses has added the new Gender rate determinant to the Accommodations, Miscellaneous, and Mileage expense policies to let you create a gender-based expense policy that supports local requirements and company policies. When you enter an expense associated with a gender-based policy, the application determines the allowed limit for you by using the gender captured in your person information in the Human Resources application. Managers can view policy violations that are automatically highlighted in approval notifications. Expense reports with policy violations can be selected for audit.
In the Natural Accounts worksheet of the Rapid Implementation Enterprise Structure Setup spreadsheet, in addition to providing your natural account segment value set and account hierarchy along with account type tags for the account values, tag the parent accounts that are your highest level and comprehensive revenue and operating expenses accounts. Use the expanded account types of Revenue - Top Revenue Parent Account and Expenses - Top Operating Expenses Account respectively. Optionally, also assign the expanded account type of Expenses - Top Cost of Sales Parent Account if this is applicable for your scenario.
The Generate Financial Reports and Account Groups process will use these parent accounts as the basis for deriving the accounts that are referenced in the reports it creates by taking the immediate descendants of these parent accounts to define the rows of the reports. The process automatically generates a set of Financial Reporting reports and Account Groups according to the accounting configuration defined in the Rapid Implementation spreadsheet after this is successfully submitted.
Depending whether both the top operating expense and top cost of sales accounts are tagged, different variations of the Financial Reporting income statements are generated. If the optional top cost of sales account is provided, the income statements Financial Reporting reports will also include a gross margin section. An individual set of Financial Reporting reports as listed below is generated for each ledger that is defined within that Rapid Implementation accounting configuration.
The process also generates three Account Groups. These include two for the infolets, Revenues and Expenses, and one for the Close Monitor, Close Monitor Summary Income Statement. A set of these three account groups is generated for the balances cube, to be shared among all the ledgers that are part of that balances cube.
The Instructions worksheet in the Rapid Implementation Enterprise Structure spreadsheet contains important information on how to use the spreadsheet and submit the accounting configuration. It also provides information on how to create additional account hierarchies, or additional account hierarchy versions. It describes the various business objects that are created as part of the accounting configuration, including how they relate to one another. Recommendations and best practices are also included to help you optimize your Rapid Implementation setup. Areas that require caution and special consideration when planning your setup are also noted in the instructions to help you avoid pitfalls.
To successfully submit the Rapid Implementation Enterprise Structure Setup spreadsheet and generate the Financial Reports and Account Groups, the user will need to have the Application Implementation Consultant job role assignment because this feature is related to many setup elements that are secured by the various privileges assigned to this role.
The Generate Financial Reports and Account Groups process can be submitted at any time to automatically create Financial Reporting reports and Account Groups. The Copy Account Group feature allows you to leverage existing Account Groups and modify the copy to easily produce another report variation.
To submit the Generate Financial Reports and Account Groups process, the user needs to be assigned either the Financial Analyst, General Accountant, General Accounting Manager, Financial Application Administrator or Application Implementation Consultant job role. To work directly with the account groups and Financial Reporting reports created, the user needs to be assigned either the Financial Analyst, General Accountant or General Accounting Manager job role.
Use the new Manage Cross-Validation Rule Violations process to list and optionally disable account combinations that violate cross-validation rules for a given chart of accounts. The process also lets you preserve attributes of account combinations to prevent the Inherit Segment Value process from reenabling them.
The Manage Cross-Validation Rule Violations Process is secured by the Manage Oracle Fusion General Ledger Account Combinations privilege. This privilege is associated with the Enterprise Structures Administration Duty, which is assigned to the job role of Financial Application Administrator and Application Implementation Consultant.
When you create a value for a segment that's assigned the natural account segment label, you must select an account type, such as Asset, Liability, Expense, Revenue, and Owner's Equity. Account combinations subsequently created with that segment value inherit the assigned account type. For example, you assign segment value 1000 the account type of Asset and then create account combination 01-000-1000-000-000. Account combination 01-000-1000-000-000 is classified as an asset.
If you assign an incorrect account type to a natural account segment value, accounting entries are recorded incorrectly and financial statements are inaccurate. Misclassified accounts are also potentially handled incorrectly at year end, with actual balances either getting zeroed out to retained earnings, or accumulating into the next year.
Use the new Correct Misclassified Accounts process to correct account types for account combinations. Misclassified accounts occur when the inherited account type of the corresponding natural account segment value is set incorrectly. The process also lets you preview the correction results.
When the process runs in Preview mode, the process output lists the actual balances for the affected account combinations by ledger, currency, and fiscal year. This information helps facilitate the journal entry that you must create for fiscal year cross-over scenarios.
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