Oracle ERP Update 25C: Financials
Medium Impact
Feature Enablement
Redwood Features
25C Update Features Covered:
- Integrating Banking and Payment with Bank of America
- Asset Transfer to Another Book Across Ledgers
- Expense Policy Inquiry Using Expenses Policy Agent for Touchless Expenses with JP Morgan Credit Cards
- Financials – Redwood
1. Integrating Banking and Payment with Bank of America
Quick Notes:
This feature provides a pre-built integration with Bank of America for automated account setup, payments, receipts, and bank statement processing. It simplifies secure key exchange, supports real-time lockbox receipt processing with AutoMatch, and enables automated reconciliation of CAMT-053 statements. Pre-configured rules and templates for ACH, wire, and check payments greatly reduce manual effort and setup time. Oracle B2B manages the entire process once enabled and coordinated with the bank. This feature requires a service request to be set up in an environment.
2. Asset Transfer to Another Book Across Ledgers
Quick Notes:
This enhancement enables transferring assets from one book to another and generating intercompany entries between the two books when required. As of updated 25C, the two books do not need to be a part of the same ledger. The application generates independently balanced accounting entries in the source book to close out asset balances, and a separate set of balanced entries in the destination book to initiate the opening balances.
You may need to provide currency conversion details if the two books use different currencies.
3. Expense Policy Inquiry Using Expenses Policy Agent for Touchless Expenses with JP Morgan Corporate Cards
Quick Notes:
Use the Expenses Policy Agent to answer employee policy questions. Expense managers can upload corporate travel and expense policies, and employees can ask the agent for contextual guidance. This feature is available only to customers using Touchless Expenses with J.P. Morgan Corporate Cards, helping employees understand policies before incurring expenses.
4. Financials – Redwood
Quick Notes:
The Financials updated for Redwood in 25C are:
-Redwood: Simplify Configuration and Processing for B2B Messaging
-Redwood: Comply with French E-Reporting Requirements
-Redwood: Validate Supplier Bank Accounts
-Redwood: Comply with French E-Reporting Requirements
-Redwood: Define Default Connection and Message Routing Options for B2B Messages
-Redwood: Eliminate Account and Site Specific Setup for E-Invoicing
-Redwood: Eliminate Supplier Setup for Purchasing and Receiving
