R12 New Features in. Financials. White Paper. Rupesh Sizaria Oracle Applications

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1 R12 New Features in Financials White Paper Rupesh Sizaria Oracle Applications

2 Abstract Author Rupesh Sizaria is having more than 10+ Yrs of experience in IT Industry with more than Six years of experience in Oracle Applications. He is having experience of various industries and worked 3 IT companies for more than 7 Years. He is working with TCS since last 2.8 yrs. In TCS, He has worked as a Project Manager in Inplementation Project from TCS side. Beside that he has acted as a project leader for Fritoley Apps customization for one of Food giant company. He has mainly worked on different customizations like Reports, Forms & Workflows in the domain of Finance and Manufacuring.

3 About the Domain As this is a generic paper on Oracle application R12, financial domain.

4 Contents INTRODUCTION... 4 NEW FEATURES INTRODUCED IN ORACLE FINANCIALS... 5 CENTRALIZED ACCOUNTING POLICIES... 5 SUBLEDGER ACCOUNTING ENGINE... 5 CENTRALIZED BANKING AND PAYMENTS... 6 ROLE-BASED ACCESS... 6 MANAGEMENT REPORTING... 7 A NEW USER EXPERIENCE FOR R XML PUBLISHER... 9 IMPROVED PROCESSING EFFICIENCY... 9 ACKNOWLEDGEMENTS REFERENCES... 12

5 Introduction This paper presents Oracle E-Business Suite Release 12 enables businesses to think globally to make better decisions, work globally to be more competitive, and manage globally to lower costs and increase performance. With a new user experience and hundreds of cross-industry capabilities spanning enterprise resource planning, customer relationship management, and supply chain planning, this new release helps you manage the complexities of global business environments.

6 New Features introduced in Oracle Financials Centralize accounting/tax setup and maintenance Implement shared services Manage compliance with one platform Integrate performance management across the business Synchronize financial and operational data Centralized Accounting Policies Greater Control, Transparency and Auditability Internal control and compliance with multiple accounting policies through user-defined accounting rules Single source of truth for all subsystem accounting activity with a common data model and repository Accounting, reconciliation and reporting facilitated by centralized data model Streamline closing process with common posting engine Auditable and transparent entries accessible with full drilldown Subledger Accounting Engine Control accounting entries for all entities Easy definition and maintenance of rules Drilldown to fully auditable entries Simplify account reconciliation

7 Centralized Banking and Payments Funds Disbursements and Capture Bank account is now associated with LE entity rather than Operating rather Operating Unit. Single bank account serves multiple Operating Units. Any and all Operating Units associated with a ledger can be permitted to use the bank account Centralized Credit Card Model Credit Card Encryption Supplier & Customer Banks in TCA (Trading Company Architecture) Role-Based Access More Productive Shared Services Operations Perform multiple tasks across operating units without changing responsibilities

8 Management Reporting Balanced Scorecard Create, publish & view Dashboards and Reports Automatically generate summarization data mart for all or selected objectives or reports New Migration module in HTML Integration with Oracle Warehouse Builder BSC Expert Support for Analytical Workspaces Load actual and benchmark data using Web ADI (Excel templates)

9 A New User Experience for R12 Accelerate global roll-outs with simplified user interface and business flows Reduced pop-ups and duplicate screens Re-designed and streamlined entire workflows Reduced the number of steps to complete key tasks Improved overall look & feel and visual style Increased personalization capabilities

10 XML Publisher Business Users Format and Deliver Documents IMPROVED PROCESSING EFFICIENCY Simultaneous Data Access to Multiple Legal Entities and Ledgers You can access multiple legal entities and ledgers when you log into Oracle General Ledger using a single responsibility. This improves processing efficiency by reducing the need to switch between responsibilities when trying to access data for different ledgers or legal entities. Simultaneous Opening and Closing of Periods for Multiple Ledgers The Open and Close Periods Programs has multiple enhancements. You are able to run any of the Open and Close Periods Programs from the Concurrent Manager. This allows you to take advantage of scheduling and request set capabilities for greater processing efficiency. Also, if you manage multiple ledgers, you can open or close periods for multiple ledgers simultaneously. You can even keep the status of periods across multiple

11 ledgers in synch with new programs that ensure a specific period is Open or Closed for all of the ledgers you manage. Cross-Ledger and Foreign Currency Allocations You are able to allocate financial data from one or more ledgers to a different target ledger. This enables you to perform cross-ledger allocations, which is useful for purposes such as allocating corporate or regional expenses to local subsidiaries when each entity has its own ledger. This is possible even if the target ledger is in a different currency than the source ledger (s) because you can create allocations in foreign currencies. Foreign currency allocations are also useful within a single ledger if you need to allocate amounts to a currency that is different from the primary currency of a ledger. Simultaneous Currency Translation of Multiple Ledgers If you manage multiple ledgers, you can run the Translation program for multiple ledgers simultaneously. Financial Reporting Across Ledgers You are able to run Financial Statement Generator (FSG) reports for multiple ledgers simultaneously. This is useful if you manage multiple ledgers and want to run a balance sheet or income statement report for all of your ledgers at the sametime. You can also create an FSG report that includes data from multiple ledgers in a single report; the data in each ledger can be displayed in a separate row or column, or data from multiple ledgers can be aggregated into a single row or column. This is useful for reports such as consolidating financial statements that display data for each subsidiary in separate columns, as well as aggregated data in a total column. Automatic Journal Copy You are now able to automatically copy an existing journal batch to create a new journal batch with the same journals and journal lines. This reduces the amount of work you need to do to re-create a journal that has already been defined.

12 During the copying process, you have the option to change the period and effective date of the journal batch. Acknowledgements I extend my thanks to TCS for giving me an opportunity to work in Oracle Applications, to my Project teams in which I have worked and got an Opportunity to work on the different customizations and learn the new technologies. My Special thanks to Oracle Practice & Cummins Account to encourage me to write this white paper.

13 References [1] [2] Author : Rupesh Sizaria Mailto: rsizaria@yahoo.com