Oracle Cloud / Fusion: What's New 25 B
Oracle Fusion Cloud Financials What's New Update 25B
Asset Transfer to Another Book
Transfer assets from one book to another within the same ledger and generate intercompany entries between the two books when required. Descriptive and depreciation details are moved to the newly transferred asset automatically for continuity and audit.
This feature enables you to seamlessly transfer of a fixed asset from one entity, location, or employee to another, across different asset books. Both the originating source and receiving destination books must be part of the same ledger. The valuation, depreciation rules, and other specifics of the destination asset are governed by the transaction rules specified. An audit trail helps users to track and query counterparty or affiliate party details for both the source and destination assets.
The source book generates independently balanced accounting entries to close out asset balances. The destination book creates a separate set of balanced entries to initiate the opening balances. This process automates the recording of intercompany entries for transfers involving different balancing segment values, eliminating the need for manual General Ledger entries. By doing so, it reduces the burden of manually reconciling these entries in Oracle Assets.
PO-Matched Invoice Edits on Edit Invoice UI for ISP Invoices
Enable Payables users to edit PO-matched supplier invoices in the Edit Invoice UI. When viewing invoice details, Payables users with the required privilege can:
Change the Invoice Number.
Cancel an existing invoice line or add new lines (Item, Freight, Miscellaneous).
Edit the Invoice Amount as needed after making changes.
Modify the Tax Classification, which updates the Invoice Amount accordingly.
This feature enhances invoice processing efficiency by allowing Payables users to edit PO-matched supplier invoices directly in the Edit Invoice UI instead of canceling and requesting resubmission. By enabling corrections to supplier data entry errors, it helps maintain the original invoice number, reducing invoice rejections and ensuring smoother tax filing. This update significantly reduces manual effort for accounts payable teams to correct the errors and enhances overall invoice processing accuracy by retaining the original invoice numbers.
List of Values for Tax and Accounting Attributes in Payables ADFDI Spreadsheet
Create invoices more efficiently with the Payables ADFDI spreadsheet by making use of Lists of Values in the tax and accounting related columns of the spreadsheet. This feature increases accuracy of tax and account information while creating invoices from spreadsheet.
These are the ten attributes in the Payables ADFDI spreadsheet where customers now can make use of Lists of Values functionality.
Manual Creation and Application of Prepayment Invoices
Use the Create and Edit Transaction pages to manually create and apply prepayment invoices against sales invoices. The addition of manual creation and application of prepayment invoices enhances the existing Prepayment Invoicing process that uses the Import AutoInvoice process.
When a prepayment invoice is applied to a sales invoice, the outstanding balance of the sales invoice is either reduced or settled by the applied amount. The original accounting and tax entries of the prepayment invoice are reversed.
Business benefit:
Manual creation and application of prepayment lines to sales invoices would enhance user productivity and efficiency while handling a small number of prepayments.
Steps to Enable
Before you create and apply prepayment invoices manually, complete these steps:
Create prepayment receivables activities.
Set up prepayment transaction types.
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.
Open a Create Receivables Activity page
Set the Activity Type to Prepayment
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.
Select the Prepayment Invoice Applications value for this Receivables activity:
Use any prepayment: Allows application of eligible prepayment invoice lines against sales invoice.
Use paid prepayments only: Allows application of only fully paid prepayment invoice lines against sales invoice.