Oracle ERP Updates 25B: Financials
Medium Impact
Feature Enablement
Redwood Features
25B Update Features Covered:
- Redwood Experience
- Asset Transfer to Another Book
- Embedded Banking Services with PNC Bank
- Integrated Virtual Card Payments for Supplier Invoices
- PO-Matched Invoice Edits on Edit Invoice UI for ISP Invoices
1. Redwood Experience
You can now use a Redwood page to manage your collaborations message definitions.
2. Asset Transfer to Another Book
This update allows you to transfer a fixed asset from one entity, location, or employee to another, across different asset books. Both the source and receiving books must be a part of the same ledger.
There are two transfer methods: Gross Method and Net Book Value Method. The Gross Method is recorded as transfer-out in the source book and transfer-in in the destination book. For the Net Book Value Method, the asset transfer is treated as a related party sale.
3. Embedded Banking Services with PNC Bank
Quick Notes:
This feature brings a comprehensive view of PNC Bank cash positions, payments, and receipts for US and Canada Oracle Cloud ERP customers.
There are four business flows that support enablement:
- Connectivity, Bank, and Bank Accounts – configure security credentials and connect accounts to Oracle Cloud ERP.
- Funds Disbursement – configure payment acknowledge processing setups for disbursement.
- Funds Capture – Configure lockbox processing setups for receipts.
- Bank Statement Processing – Configure bank statement formats and reconciliations setups.
4. Integrated Virtual Card Payments for Supplier Invoices
Quick Notes:
You are now able to pay supplier invoices with virtual cards from several participating banks: Barclays, First Abu Dhabi, HSBC, JP Morgan, Wells Fargo, and Westpac.
The ability to use virtual cards enhances security by eliminating the need to store suppliers bank information, better cash flow by leveraging credit to pay suppliers, streamlined payment process with reduced overhead to check processing, improved payment tracking with notifications directly in ERP, and global accessibility through several global and regional banks.
5. PO-Matched Invoice Edits on Edit Invoice UI for ISP Invoices
Quick Notes:
Users can edit PO-matched supplier invoices in the Edit Invoice UI. Improve efficiency by allowing Payables users to edit PO-matched supplier invoices directly in the Edit Invoice UI instead of canceling and requesting resubmission. This will maintain the original invoice number and reduce the number of invoice rejections.
