Oracle Cloud ERP –R13 Financials 18A & 18B New Features

Oracle Cloud Enterprise Resource Planning - Financials: 18 B New Features
Given below are few features.
Cloud General Ledger:

Configure Auditable Setup Attributes and View Audit Report: 
You can Enable the audit of selected setup and configuration attributes and view the report to improve  control over important enterprise processes. Monitor access to the setup attributes that impact important business decisions and processes. Maintain a reliable enterprise transaction system that supports day-to-day business operations.

The following business setup objects are enabled for audit in General Ledger:

    Account Combinations
    Accounting Automation
    Allocations and Periodic Entries
    Accounting and Reporting Sequences
    Auto Post Criteria Sets
    Chart of Accounts Mapping
    Daily Conversion Types
    Encumbrance Types
    Encumbrance Carry Forward Rules
    Inter-company Processing Rules
    Journal Categories
    Journal Sources
    Journal Reconciliation Rules
    Journal Reversal Criteria Sets
    Ledgers
    Revaluations
    Suspense Accounts

Cloud Payable's:

Streamlined Payment Processing:
This features simplifies installments selection to ensure that selected installments are compatible with the internal bank account and the payment process profile specified on the payment process request. Excluding non matching installments during selection reduces rejections during later stages of the payment process request, which results in a streamlined payment process.

Cloud Expenses:

a) Disable Scan Option on Mobile Expenses

Using this feature now you can control the Scan option on cloud Expenses mobile application.

b) Itemization of meals expenses categories:
Capture breakdown of meal expenses such as tips by enabling itemization.


Cloud Receivables:

Flexible Routing and Approval of receivables credit request:
 
Using this feature now you can configure Oracle Business Rules to determine whether a credit request against a Receivables transaction requires a manual review to create a credit memo. The notification process informs users of any required actions. Users will also be able to capture additional information on the credit request or on subsequent workflow notifications.

 Oracle Cloud Enterprise Resource Planning - Financials: 18 A New Features

 Cloud General Ledger:
 
Accounting automation:
Accounting Automation streamlines and automates your end-to-end accounting and transaction processes,including Import Daily Rates, Create Accounting, Import Journals and Posting, greatly reducing manual work and time lags in your business operations. The data flows through all of the required processing steps with no user intervention, while making it easy to involve the right people at the right time to resolve exceptions. This ensures the continuous availability of the most accurate and up-to-date financial information. 


Cloud Payable's:

Invoice routing for account coding:
This features simplifies installments The Invoice Routing for Account Coding feature enables customers to route invoices to business users for entering accounting information. Invoices requiring accounting information are automatically routed to the designated users based on routing rules. With this feature, the Payables department can assign the responsibility of entering the accounting information to the appropriate business users. This feature enables customers to streamline the process of recording unmatched invoices and improve the overall efficiency of the Payables department.

 

















The Capabilities covered using this feature are given below:

1. Ability to route non PO matched invoices to business user for entering accounting information. Generally, all unmatched invoices need the accounting information be entered to make it complete. The Payables clerk usually has to interact with multiple users to get this information and in most cases, the business users that have incurred the expenditure can provide the details. This feature enables customer to route invoices to appropriate users for providing this accounting information.
2. Invoices that are complete from a data entry perspective and requiring accounting information are automatically routed to the designated users based on assignment rules,
3. Based on the need, the users can perform manual initiation and user can perform additional action such as withdrawn and resubmit.
4. A new workflow task has been created to route invoices for account coding. This new workflow enables customer to define the assignment rules based the business needs.
5. All the standard workflow features such as reminder, escalation are available with this workflow. Assignment rule can be defined based on all invoice attributes.
6. Invoices assigned to users are notified by email and workflow notification.
7. User having the employee role can access this notification and provide the accounting information.

The Configurable Payables Email Notification feature is supported for Account coding workflow. 
By default, Configurable Payable Email Notification feature for Invoice Account Coding Notification is not enabled. You must go to Configurable Payable Email Notification feature, on the Opt in page under Financial Offering and enable the “Invoice Account Coding Notifications” option.

 









Invoice Action- Account Coding :

Invoice Account Coding Status:

for more new features go through the URL given below:
https://cloud.oracle.com/en_US/saas/readiness?offering=financials 

Reference: Oracle Cloud ERP