R12.2.2 Financials New Features

R12.2.2 enhancements compared to R12.1.3…
This is an excerpt with highlights from Metalink document id: 1302189.1
For:

• Financials
• Projects
• Flexfields

E-Business Tax

• Customer Tax Information Import: Customer interface program now supports the following:
  • Party Tax Profile
  • Tax Registrations
  • Exemptions
  • Reporting Code Association
• New condition set operators: Used to be available in R12.1.3 as a patch only:
  • Null
  • Not Null

General Ledger

• Integration with the Fusion Accounting Hub enabling:
  • Generate boardroom ready financial statements
  • Analyze variances with exception-based online account monitoring
  • Online slice-and-dice account analysis
• Data Relationship Management (DRM) Integration for synchronization with Hyperion DRM

Payments

• Payment Acknowledgement Import containing payment status for bank received payment files enabling:
  • Map bank acknowledgment codes with the system defined acknowledgment codes
  • Import acknowledgment data
  • Import multiple acknowledgments per payment
  • Review acknowledgment details including bank reported errors and status.

Receivables

• Review and Manage Accounting Exceptions during Period Close enabling:
  • Sweep Invalid Distributions using an accrual
  • Supporting document for audit
• Automate Auto Lockbox Processing
• Assign Customers to Unidentified Receipts using API
• Golden Tax Adaptor Enhancement for Mainland China

Tax, Legal and Regulatory Updates

• Belgium: Belgian VAT Annual Return Report Legal Changes 2012
• Brazil: Federal SPED Regulation – Accounting SPED Updates
• Brazil: Fiscal SPED – Electronic Invoice Layout Update (Manual 4.01)
• Brazil: Fiscal SPED – Support for PIS/COFINS (EFD-Digital Fiscal Bookkeeping)
• China: China Accounting Software Data Interface Banking Standard
• India: NSDL eTDS and eTCS Returns
• India: TCS Product Impact Support
• India: Service Tax Reverse Charge Mechanism
• Israel: Combined VAT File (Ichud Oskim)
• Israel: Withholding Tax File – 856 (Legal Changes 2010)
• Portugal: Billing Software Certification
• Russia: Enable Revaluation at Year End
• Spain: VAT Legislation: Modelo 349 ESL/EPL Changes
• United Kingdom: Local Authority Revaluation and Impairment
• United Kingdom: Modulus Check Validations for Bank Accounts
  • This is back ported in R12.1.x patch: 16511168:R12.CE.B
• U.S. Federal: New FACTS II Edits·

Public Service Financials International

• Construction Industry Scheme (CIS): Exclusion of Out of Scope Contract Invoices in Monthly Returns Reporting

U.S. Federal Financials

• Common Government-wide Accounting Classification (CGAC) Configuration accommodating:
  • CGAC component based Treasury Account Symbol
  • TAS, Fund, and General Ledger CGAC related attributes
  • 8-character Business Event Type Code (BETC)
  • New automated process has been added for establishing new single and multi-year TASs

Environmental Accounting & Reporting

• Updated Carbon Disclosure Project Report
• Enhanced Performance Dashboards
• Enhanced Key Performance Indicators

Property Manager

• Lease and Terms APIs
• Business Event Workflow and Status Update
• Variable Rent and Breakpoint APIs
• Override Variable Rent Calculations Client Extensions
• Index Rent APIs

Financials Common Modules

• Scheduling of AP/AR Netting Batches: Scheduling of the AP/AR Netting program
• New localizations for India:
  • Advanced Pricing Support
  • Tax Information on Purchase Order Workflow Notification
  • Reassessing Service Tax on Receipt of Foreign Payments
  • Enhanced Bill of Entry Functionality
  • Tax Import to Receivables and Payables
  • Re-architecture of TDS Changes and Code Integration Points
  • Performance Improvement for Creditors Ledger Reports

Project Billing

• Standard Invoicing for Adjusted Transactions

Project Costing

• Labour Costing Enhancements:
  • Costing with HR Rates with Support for Multiple Rates per Employee
  • New OTL Timecard Layout to Support Rate by Criteria
  • Total Time Reporting for Exempt Employees
  • Labor Costing using Payroll Actuals
  • Labor Cost Accruals
  • Expenditure Batch Reversal Program
• CMRO Integration Enhancements
• Payables Integration Enhancement – Support for Self Assessed Tax
• Enhanced Cost Collection by Cost Code

Project Management

• Planning with HR Rates
• Updated Rates when Generating Forecast from the Workplan
• Planning without Resource Classes
• Planning by Cost Breakdown Structure

Flexfields

• Value Set Security: Flexfield value set security allows system administrators to restrict users from viewing, adding or updating values in specific value sets