Oracle ERP Financials Cloud 26D
Low
Feature Enablement
Redwood Features
Generative AI Features
26D Update Features Covered:
- Redwood Experience
- Generative AI
- ISO Positive Pay File for Voided Checks
- Payables Period Close Workspace
- Electronic Filing of Forms 1099-MISC, 1099-NEC, 1099-G, and 1099-INT using Information Returns Intake System
1. Redwood Experience
Oracle Cloud Financials 26D continues to enhance the Redwood experience, bringing modern, intuitive user interfaces to key financial processes while preserving established operational workflows. Users can now access Collaboration Messaging directly from Redwood pages, combining familiar configuration and processing models with an updated visual experience. In addition, the Redwood Supplier Portal introduces streamlined invoice submission and status tracking, enabling suppliers to submit invoices and monitor their progress through a more intuitive interface. Together, these enhancements provide consistent and connected user experience, helping organizations improve efficiency and adoption across financial operations without requiring significant changes to existing backend processes.
2. Generative AI
Oracle continues to expand Generative AI across Financials in 26D, introducing intelligent agents and assistants that simplify everyday financial processes. The Expenses Agent helps streamline expense itemization, attendee details, and overall usability, while new Assets AI capabilities support acquisition cost analysis, asset additions, capital expenditure planning, and depreciation projections. Alongside the Payables Period Close Workspace, these enhancements provide guided insights and automation to reduce manual effort and help users make faster, more informed financial decisions.
3. ISO Positive Pay File for Voided Checks
Quick Notes:
Oracle Fusion Cloud Payments now supports the inclusion of voided check details within ISO 20022 positive pay files, specifically for JPMorgan Chase and PNC banks. This enhancement significantly strengthens an organization’s financial controls by allowing banks to validate all checks presented for payment, including those that have been voided, against the information provided.
Organizations can manually run the ‘Create Positive Pay File’ process, selecting the appropriate payment process profile and specifying ‘Voided Payments Only’ status. This generates a bank-specific positive pay file for voided checks, improving fraud prevention and ensuring accurate reconciliation.
The system automatically derives a unique message ID for each file, enhancing traceability and security.
Business benefits:
- Improved fraud prevention for voided checks.
- Enhanced financial control and reconciliation.
- Supports ISO 20022 format for specific banks (JPMorgan Chase, PNC).
- Streamlined process for reporting voided payments.
4. Payables Period Close Workspace
Quick Notes:
The Payables Period Close Workspace is an agentic application designed to achieve a timely, controlled, and explainable Payables close. For a selected ledger and accounting period, it consolidates invoice, payment, and period status data to provide a clear view of the current close posture.
The workspace identifies obstacles, prioritizes critical actions, and directs attention to the most impactful work. It transforms complex close preparation into decision-ready tasks by organizing exceptions, evaluating their impact, and presenting supporting business and transaction evidence.
With ‘Priority Actions’ and ‘Ask Oracle’ capabilities, teams can investigate issues, understand their causes, and determine appropriate next steps, all governed by the organization’s standard operating procedures and authority boundaries.
Business benefits:
- Achieve timely, controlled, and explainable Payables close.
- Identifies and prioritizes critical close-related issues.
- Provides decision-ready work with supporting evidence.
- Leverages AI for contextual insights and guided actions.
5. Electronic Filing of Forms 1099-MISC, 1099-NEC, 1099-G, and 1099-INT using Information Returns Intake System
Quick Notes:
This feature enables organizations to electronically file Forms 1099-MISC, 1099-NEC, 1099-G, and 1099-INT in high volumes through the IRS Information Returns Intake System (IRIS) taxpayer portal. IRIS offers a modernized, free, web-based filing system that supports both manual entry and CSV uploads for up to 250 returns at a time, as well as Application-to-Application (A2A) bulk submissions via XML for larger volumes.
Oracle generates IRIS-compliant CSV output files, automatically splitting records into multiple files if the total exceeds 250 returns. This significantly streamlines the tax reporting process, reduces administrative burden, and ensures compliance with IRS electronic filing requirements, offering a cost-effective and efficient solution for managing 1099 series forms.
Business benefits:
- Streamlined electronic filing of 1099 forms with IRS IRIS.
- Supports high-volume submissions via CSV or XML.
- Reduces administrative burden and ensures compliance.
- Cost-effective solution with no additional filing fees.
