25C - Finance Updates
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Oracle Fusion Financials 25C Update: Key Enhancements Explained
The quarterly updates help finance teams work faster, stay compliant, and get better insights into their financial data.
Enhancements in Payables
Intercompany Invoices Made Easy
Problem: To create an intercompany charge, we had to manually create intercompany transactions, get them approved, and then transfer them to the General Ledger.
Solution:
Now, intercompany transactions can be created automatically from Payables invoices when one organization pays expenses on behalf of the other.
Supplier Bank Account Check
Problem:
Wrong or fake bank account details could cause payment frauds, financial losses, and extra work to fix errors. Even for genuine suppliers, incorrect details could lead to costly mistakes.
Solution:
Supplier bank accounts can now be validated during registration through integrated service.
Enhancements in Receivables and Cash Management
Smarter Collections
Problem:
Collection notices had to be sent manually or through custom solutions since Oracle didn’t provide direct communication with external parties.
Solution:
Now, we can route overdue instalments to third-party collection agencies directly from Oracle. This makes collections faster, improves recovery, and reduces manual work for our team.
Cash Receipt Service
Problem:
Allocating income from a miscellaneous cash receipt to different accounts, departments or funds was a time-consuming and difficult process.
Solution:
Now, you can create miscellaneous cash receipts with multiple distributions using the Create Miscellaneous Receipt SOAP service, in one step.
Enhancements in General Ledger, Assets, and Expenses
Simplified Posting
Problem:
Earlier, the Auto Post process was limited - it could only pick up journals that were already complete and approved.
Solution:
Now, Auto Post gives you more control to either
- Post Only or
- Approve Only or
- Approve and Post.
This provides us with an additional layer of review for the users/approvers after approval, if needed, and then Post.
Flexible Asset Transfer:
Problem:
Transferring assets across different ledgers wasn’t possible in Oracle.
Solution:
Now, you can transfer assets across Ledgers (different Asset Books), with automatic generation of intercompany entries. The asset’s details, including description and depreciation, move automatically for continuity and audit.
The Driving Value of 25C Update with EQInt as a Strategic Partner
EQInt helps businesses adopt Oracle’s quarterly updates with ease. By doing testing and impact analysis, EQInt ensures that client finance teams can smoothly use the new features. This allows organizations to focus more on insights and decision-making rather than technical issues.
To optimize these benefits from Finance 25C Upgrade, write to us at [email protected].