Oracle Release 12 Enhancements

R12 changes in Oracle Financials

1. Describe ledgers versus Set of Books. Explain ledger sets
2. Describe that responsibilities are changing.
3. Describe the changes and new functionality for GIS or Advanced Global Intercompany
4. Explain SLA
5. Brief the major updates for FA.
6. Describe new functionality in Payables for Assets
7. Describe the changes for Vendors/Suppliers, Banks, TAX all being centralized

General Ledger

1. General Ledger now has Ledgers. Replaces Set of Books.
2. A ledger Determines the currency, Chart of Accounts, Accounting Method, Ledger
Processing Options and Subledger accounting method.
3. Ledgers are defined when you create accounting setups in Accounting Setup
Manager.

Ledger Set – Assign to single Responsibility

Logical grouping of ledgers with the same chart of Accounts and
Calendar /Period type. The Calculation Basis for
cross/multiledger Inquiry, Reporting, and shared services
operations.
- Opening/Closing Period
- Creating period closing journals, Allocations & Recurring Journals
- Translating Balances
- Reporting

Responsibilities

Responsibilities
1.One responsibility can now be used to access multiple legal entities and ledgers.
2.Data Access Sets are used to control access.
3.When submitting a concurrent request you can submit the report for one or all the
ledgers/Legal entities that you have been given access to.
4.GL data access profile option replaces GL set of books.

Intercompany New Features

1.New separate product
2.Name: Advanced Global Intercompany System - AGIS
3.Ability to create invoices (AR and AP)
4.Multiple recipients Support
5.Proration of transaction distribution amounts
6.Upload Transaction Batches created in Excel