New and Changed Features in Oracle Financials of 12.1.3 Version of R12

New and Changed Features in Oracle Financials of 12.1.3 Version of R12

I. 12.1.3 New Features of Oracle Advanced Collections

1. Staged Dunning

In addition to the Aged Dunning method that is based on a customer’s oldest aged invoice, Collections organizations may now use Staged Dunning method. The Staged Dunning method ensures the dunning notices set to a customer automatically incremented based on the collection score and pre-defined number of days between letters being sent.



II. 12.1.3 New Features of Oracle Fixed Assets


As defined by previous regulatory initiatives in Japan and the Japan Tax Reform of 2007, the impairment functionality in Oracle Assets has been extended to perform and account for asset impairments in compliance with Japanese accounting regulations. Impairment losses can now be derived and recorded for Japan-specific depreciation methods.
The following impairment feature functionality is now available for Japan depreciation methods.
• Japan specific impairment loss calculations
• Assignment and impairment of assets within Cash Generating Units
• Impairment of fully reserve and non-depreciating assets
• Impairment of assets exceeding depreciation limits


III. 12.1.3 New Features of Oracle Cash Management

Manual Entry in Cash Position

The cash position functionality has been enhanced to allow cash managers the ability to manually enter cash flows into their cash positions allowing for greater flexibility in their decision making process.


This feature been back-ported to following releases:

Release                                         Patch Number
12.0.6                                             9059098:R12.CE.A
12.1.1                                             9059098:R12.CE.B


IV. 12.1.3 New Features of Oracle General Ledger

1. Synchronize Reversing Journals between Primary and Secondary Ledgers

Oracle General Ledger now streamlines the propagation of journal reversals from the primary ledger to the associated secondary ledgers. The manual reversal of primary ledger journal entries now automatically reverses the corresponding journal entries in the secondary ledger.

2. Limit Accounts in Budget Wizard

In prior releases, users could only use specific account code combinations ranges in the Oracle General Ledger Budget Wizard to limit accounts for the budget entry process.
The Budget Wizard now allows users to use low and high values for one or more segments in the account range.

V. 12.1.3 New Features of Oracle Financials for India

1. Descriptive Flex Field (DFF) Support

Users can now capture customer specific data using descriptive flex fields within Oracle Financials for India (OFI) forms. The data captured is stored and available within the OFI specific tables.

2. Display of Value Added Tax (VAT) Invoice Number in Receivables Transaction Workbench for India

The VAT Invoice number is now displayed within the reference field of Receivables Transaction Workbench. This simplifies the process of matching receipt of payments against a VAT invoice.

3. General Ledger Journal Drill-Down Support

Users can now drill down from General Ledger to transactions for the accounting entries generated by Oracle Financials for India.

VI. 12.1.3 New Features of Oracle Internet Expenses

1. Expense Receipt Management Enhancements

Oracle Internet Expenses has been enhanced to provide users the ability to define rules to accept, track and route imaged receipts to the appropriate auditor work queue.
Faxed receipts and/or emailed scanned receipts can now be associated with expense reports as receipt images.
User defined rules can be setup to enforce receipt submission and reimbursement thresholds in addition to highlight missing receipts for expense lines.

2. Duplicate Expense Detection
Duplicate Expense Detection Rules are now available to detect duplicate expense claims aiding customers in decreasing administration costs by ensuring only reimbursement of valid expense claims.


VII. 12.1.3 New Features of Oracle Legal Entity Configuration

1. Enhanced Legal Addresses

In prior releases, when defining the address for a new legal entity, users could only select from existing locations identified as legal addresses. Users can now select any existing location as an address for a legal entity.



This feature has also been back-ported to following releases:

Release                                           Patch Number

12.0.6                                               6116752:R12.XLE.A

12.1.1                                               6116752:R12.XLE.B

VIII. 12.1.3 New Features of Oracle Loans

1. Multiple Disbursements during Loan Servicing

In prior releases, direct loans could only be adjusted using multiple disbursements with disbursement amount, percentage and a specific target date freeze before the approval, activation or funding of the loan. Now, loan managers can perform adjustments to the loan amount in active and multiple disbursements of the loan after the loan is activated, funded or in the servicing stage.
Additionally, for Extended Repayment Schedule (ERS) loans, loan managers can now add and convert additional receivables transactions to existing loans in the servicing stage. Managers can also modify the outstanding amount of receivables or adjust the receivables amount based on the payment terms.

IX. 12.1.3 New Features of Oracle Subledger Accounting

1. New Control Accounts Qualifier

“Restrict Manual Journals” has been added as a new qualifier on the natural account segment to provide users the ability to specify the control accounts that do not require third party detail for posting.


X. 12.1.3 New Features of Oracle Treasury

1. Reconcile Treasury Transactions of all Deal Types

Oracle Treasury now allows the use of Retail Term Money Market deal transactions within the Oracle Cash Management Bank Statement reconciliation. With this enhancement, users can view and use all treasury deal type transactions when reconciling bank statements within Oracle Cash Management providing a single point for reconciliation.


This update has also been back-ported to the following releases:

Release                           Patch Number
12.0.6                             9491322:R12.XTR.A
12.1.1                             9393372:R12.CE.B



XI. 12.1.3 New Features of Oracle U.S. Federal Financials

1. Updates to Year-End Close Processing

The Federal Year End Close process has been modified to add a Closing Method to accommodate configuration of Pre-Closing as well as Closing accounting entries. Closing Method and Closing Period have been added as parameters to the Year End closing process.

2. Extract File Changes for Central Contractor Registration (CCR)

CCR enhancements include:
• Placing specific named holds (instead of supplier site holds) on invoices and scheduled payments when the supplier’s registration status becomes inactive, and automatically releasing the hold when the registration becomes active
• Masking the CCR account user identifier and password information on concurrent request parameters and log file output
• Providing validation on the Payables Assignment page to prevent the association of a CCR vendor to an existing supplier when their TINS do not match
• Updating unpaid invoices with the latest bank account information from CCR when the bank information has changed for a CCR registration.

XII. 12.1.3 New Features of Oracle Tax, Legal and Regulatory Updates



1. Argentina: Support for Argentina Simplified Regime (Monotributo)

The Argentine Fiscal Authority (Resolution 2616), introduced a new Withholding Regime for Income Tax and VAT application to Simplified Regime Contributors (a.k.a. Monotributista). Effective January 1, 2010, the new regime is effective on any payment made to a Monotributista that has reached an annual threshold-billing amount as pre-defined by the government.
The extended withholding solution for Argentine has been enhanced to address these changes. Suppliers can now be defined using withholding types and rates applicable to simplified regimes.
With these changes, users now can:
• Identify suppliers who are Monotributistas
• Verify supplier’s billing information against fiscal authority thresholds
• Analyze information through the Monotributistas Billing vs. Threshold Verification Report
• Automatically enable Simplified Regime applicability to Monotributistas that meet the threshold.
This update has also been back-ported to the following releases:

Release                                        Patch Number                My Oracle Support Knowledge Document
11.5.10                                          8971151
12.0.5                                            9112951:R12.JL.A         987131.1
12.1.1/12.1.2                                 9112951:R12.JL.B          987131.1

2. Belgium: Annual VAT Report File Format v1.3

Effective from January 2010, the new v1.3 file format has replaced the current v1.2 file format of the Belgian Annual VAT Return File.
This update has also been back-ported to the following releases:

Release                                          Patch Number
11.5.10                                          9249589
12.0.5                                            9480859:R12.JE.A
12.1.1/12.1.2                                 9480859:R12.JE.B


3. Brazil: Support for Brazilian Electronic Collection Document Process (DDA)

Effective October 2009, Oracle Financials for Latin America introduced two new attributes in the Collection Document Window and in the Import Collection Documents program to support the Brazilian Authorized Direct Debit (DDA) system:
• Collection Document Barcode: The Collection Document Barcode is required for the Electronic File Transfer. This mandatory record speeds up the data entry of manually collected documents and is now a required field in the Standard Collection Document.
• Electronic Collection Document Flag: The Electronic Format (Y/N) flag identifies if the respective collection document is electronic (Y) or standard (N).
This update has also been back-ported to the following releases:

Release                                       Patch Number                 My Oracle Support Knowledge Document
11.5.10                                         8802352                           1071872.1
12.0.5                                           9319746:R12.JL.A          987749.1
12.1.1/12.1.2                                9319746:R12.JL.B          987749.1

4. China: Support for Version 2 of the China Accounting Software Data Interface Standard
The China National Audit Office (CNAO) has defined a new version of their accounting auditing filing standard, known as the China Accounting Software Data Interface Standard. The new standard requires a number of XML-based reports, using data primarily from the General Ledger, Payables, Receivables, Assets, and Payroll modules. It is currently required for state-owned enterprises and public sector organizations.

5. India: Enhanced Value Added Tax (VAT) Functionality to Support Flexible Recovery Schedule for India
Oracle Financials for India now provides the flexibility to use VAT recovery schedules and percentages to derive the tax installments and dates to claim or recover VAT on capital goods.

6. India: Value Added Tax (VAT) Statutory Accounting and Reporting for Non-Shippable Items
Users can now have the ability to generate Value Added Tax Invoice Numbers, perform VAT Repository updates, and account for VAT taxes for customer billable non-shippable items on sales orders.

7. Israel: Israel VAT Report Enhancement
Effective January 2010, new legislation was introduced affecting companies issuing periodic VAT declarations in Israel. The legislative changes include:
• Enhanced tax reporting boxes for declared input and output taxes
Oracle E-Business Suite Releases 12.1 and 12.2 Release Content Document Tax, Legal and Regulatory Updates 39
• New electronic flat file format declaration related to 835
• Aggregated reporting of taxable sales transactions below the official published limits
• Monthly percentage or amounts limits for tax reclaimed on Petty Cash transactions
• Mandatory declaration of export trade transactions (Rshimon Export)
The EMEA VAT Reporting Setup has been updated to capture monthly aggregation and declaration limits for Israel.
The following Israeli reports have been enhanced to incorporate the legislative changes:
• Israeli VAT AR Detail Report
• Israeli VAT AP Detail Report
• Israeli VAT Summary Declaration to Tax Authorities
• Israeli VAT File Generation Related to 835
This update has also been back-ported to the following releases:

Release                                       Patch Number                 My Oracle Support Knowledge Document
12.0.6                                           9241039:R12.JE.A         981126.1
12.1.1/12.1.2                                9241039:R12.JE.B         981126.1

8. Israel: Withholding Tax File – 856

Legislative amendments to the Income Tax Ordinance require updates to the ‘Withholding Tax File – 856’. These amendments impact the existing ‘Israeli Withholding Tax File to Tax Authority’ report.
In summary, the amendments are as follows:
• Row 60 includes new fields for Tax Year, Supplier Type and Explanation for the Tax File in IRS
• Row 70 includes new fields for Foreign Suppliers Total Payments Paid by Bank and Foreign Suppliers Total Withhold Amounts Paid by Bank. Positions 53 to 101 are filled out with spaces.
• Row 80, a new row has been added. This row has 216 positions and is composed of 12 lines, one line per each month of the year.
The following data is also generated as part of row 80:
• IRS Deduction File Number, Reporting Type Code, Tax Year, Period, Number of Reported Suppliers, Total Payments, Total Withholding Tax, 155 spaces and the constant ‘80’.
Oracle E-Business Suite Releases 12.1 and 12.2 Release Content Document Tax, Legal and Regulatory Updates 40
This update has also been back-ported to the following releases:

Release                                    Patch Number                    My Oracle Support Knowledge Document
12.0.5                                       9253606:R12.JE.A             1288098.1
12.1.1/12.1.2                            9253606:R12.JE.B             1288098.1

9. U.S. Federal: Extract File Changes for Central Contractor Registration (CCR)

CCR processing has been enhanced to process the BPN extract v4.09 files. The extracts contain additional NAICS information, as well as the Excluded Parties List System (EPLS) status. The CCRXML request version number has been updated to 2.10. The CCR Vendors pages have also been updated to display the additional information.

10. U.S. Federal: Regulatory Updates to Statement of Budgetary Resources
The setup and concurrent process for the following Federal Financial Statements have been modified to align with OMB Circular A-136 Revised (dated June 10, 2009) as well as USSGL Fiscal Year 2010 crosswalk attributes:
• Statement of Budgetary Resources
• Statement of Changes in Net Position.

11. U.S. Federal: Regulatory Updates to SF-133 Report
The setup and concurrent process for the SF 133, Report on Budget Execution, has been modified to align with OMB Circular A-136 Revised (dated June 10, 2009) as well as USSGL Fiscal Year 2010 crosswalk attributes.
This update has also been back-ported to the following releases:

Release                              Patch Number                          My Oracle Support Knowledge Document
11.5.10                                9307464                                    979828.1
12.0                                     9162915:R12.FV.A                  979828.1
12.1.1/12.1.2                       9162915:R12.FV.B                  979828.1

12. Global: European Community VAT Changes for 2010

Effective January 1, 2010, the European Union (EU) introduced changes related to Value Added Tax (VAT) to modernize and simplify the rules for cross-border supply services and tax recovery. Business-to-business supply of services will now no longer be taxed where the supplier is located but will be taxed where the customer is situated. The changes also introduced new reporting requirements.
Oracle Financials has been enhanced to address the new VAT changes by providing the following features:
• Identify the intra EU service transaction lines and display them on the European Sales Listing report
Oracle E-Business Suite Releases 12.1 and 12.2 Release Content Document Tax, Legal and Regulatory Updates 41
• Print standard legal messages on sales invoices.
This update has also been back-ported to the following releases:

Release                             Patch Number                           My Oracle Support Knowledge Document

12.0                                    9337544:R12.ZX.A                   974979.1   
                                           9123675:R12.BPA.A                1107453.1

12.1                                    9337544:R12.ZX.B                    974979.1
                                           9123675:R12.BPA.B                 1107453.1


Source : Oracle E-Business Suite Releases 12.1 and 12.2 Release Content Document