Financial Apps Collaborate 16 Sessions

We’re just two days away from the start of Collaborate and there are so many session I want to get to, my focus is on Financial Applications both Cloud and E-Business Suite.  I already listed sessions where you can find me presenting, but here are ones I think will be interesting, I will attend as many as I can

Firstly two cloud customers(Alex Lee and Westmont Hotels) talking about their experiences implementing cloud financials.

Fusion Financials Implementation Customer Success Experience

Monday April 11th 12:45 PM–1:45 PM – South Seas J

Derrick Walters, Corporate Applications Manager at Alex Lee

How Westmont Hospitality Benefited by Leveraging Cloud ERP
3:15 PM–4:15 PMApr 11, 2016 – South Seas I
Sacha Agostini Oracle Functional Consultant at Vigilant Technologies, LLC.

Next some AGIS, Legal Entity and related topics on E-Business suite.  In these areas that have been out for some time, I generally learn something about innovative uses of the products.  Our partners and customers are very smart.

Intracompany, Intercompany, AGIS – Unraveling the Mysteries!
2:15 PM–3:15 PM Apr 10, 2016 – South Seas A
Bharati ManjeshwarMs at Highstreet IT Solutions, LLC

Master Data Series – Legal Entities From 11i thru Cloud
9:15 AM–10:15 AM Apr 12, 2016 – Breakers F
Thomas Simkiss Vice-President of Consulting at Denovo Ventures, LLC

Its Not too Late! How to Replace Your eBTax Solution After You Have Upgraded
10:30 AM–11:30 AM Apr 11, 2016 – South Seas I
Mr Andrew BohnetDirector ateBiz Answers Ltd

General Ledger and Financial Accounting Hub – A look at a Multi-National Structure
3:30 PM–4:30 PMApr 10, 2016 – Jasmine H
Bharati ManjeshwarMs at Highstreet IT Solutions, LLC

Finally, there are sessions called Power Hours, which are strangely two hours, but i really like the experience last year and based on the fact they are back i assume others did too.  they are not a traditional lecture format, they are more interactive and allow people to discuss their experiences and learn from each other.  If you have not tried one, I highly recommend them.  Here are a couple that jumped out at me
Power Hour – Coexistence – On Premise and Cloud Together and In Harmony
3:15 PM–5:30 PM Apr 11, 2016 – Mandalay Bay C
Mohan Iyer Practice Director at Jade Global, Inc.
Power Hour – eBTax Hacks – Your Questions Answered
9:15 AM–11:45 AM Apr 12, 2016 – Mandalay Bay C
Mr Andrew Bohnet Director at eBiz Answers Ltd
Alexander Fiteni President at Fiteni Enterprises Inc
Dev Singh Manager at KPMG LLP Canada
Power Hour – Master Data Structures in EBS and Cloud
12:45 PM–3:00 PM Apr 11, 2016 – Mandalay Bay C
Mohan Iyer Practice Director at Jade Global, Inc.

Guest Post: Custom Balancing by 2 segments in EBS R12

Sangeeta
Sangeeta Sameer, IT Leader – Finance, Renewables ERP at GE Power & Water

This is a guest post from Sangeeta Sameer, who worked for Oracle for 6 years before moving on to work for GE where has held a number of senior positions.  She has also joined the board of the OAUG Multinational Special Interest Group.

At the Collaborate 2014 Conference, David Haimes and I presented a custom solution to enable balancing by 2 segments of the Chart of Accounts in Release 12.1.3 of Oracle e-Business Suite. The attached PowerPoint and Paper that we presented describes in detail the requirements and the custom solution.

So when David asked me to write a guest post about this topic, I thought about what else I would include in the paper if we were writing it again. While the paper talks about the requirement to create a balanced Trial Balance by 2 segments, it does not expand on why we need a balanced Trial Balance by 2 segments. Global corporations like General Electric (GE) need better granularity and accountability for the financial performance of their geographical divisions and lines of businesses by being able to create a Balance Sheet at both a Legal Entity/Statutory level and Business Unit/Management Entity level. GE is a Global conglomerate that has diverse businesses operating in a large number of countries. GE needs the ability to create a balanced Trial Balance by the Legal Entity (LE) and the Management Entity (ME) segments in the Chart of Accounts.

The ability to automatically balance by more than one segment is not a new requirement for GE, and I think it would be a requirement for other multinational companies as well. This requirement is explained quite well in Oracle Fusion Applications Enterprise Structures Concepts Guide 11g Release 5 (11.1.5) – Part # E22899-05. See the section titled “Legal Entity and Its Relationship to Balancing Segments”. While Fusion Applications are able to balance by up to 3 segments in the Chart of Accounts, Oracle e-Business Suite (EBS) Applications are able to balance by one segment only.

In prior EBS Release 11i implementations at GE, the requirement to balance by 2 segments was satisfied by developing custom solutions that needed to be re-visited for Release 12. For example, one of the solutions in 11i was for a custom program to bring balancing entries into the Interface Table. With the introduction of SLA in Release 12, this 11i solution was no longer a good one for R12. The solution described in the attached Paper and PowerPoint is a much more robust solution, and is live in Production for 2 different ERP Projects at GE.

The OAUG Multinational Special Interest Group (SIG) is organizing a webinar on June 11th at 10.30 am Pacific (1.30 pm Eastern) on this topic. David and I will repeat the presentation from Collaborate 2014, and look forward to sharing this solution again. The webinar will be one hour long, including 20-25 minutes for Q&A.

The link to register for this webinar is:
https://www4.gotomeeting.com/register/790696327

Collaborate 14 Paper: Balancing by 2 Segments

It is a very common requirement to automatically balance by two different segments of the chart of accounts, typically the Legal Entity and some sort of Management Entity (department, line of business, cost center, etc).  Fusion financials allows you to balance by up to three segments, which is always a well received feature.  However at Collaborate you can learn how one company built a custom to do this in EBusiness Suite.  I’m honored to have been asked to Co-present with GE on this topic, they have done some really good work here and I’m sure it will be of great interest to others too.  So come along and join us, you’ll get the specifics of what they did, the details are below:

Session ID: 13941
When: 10 Apr 11:00 AM-12:00 PM
Room: Level 1, Marco Polo – 801
Speakers: Sangeeta Sameer, General Electric (GE),  David Haimes, Oracle Corporation
Abstract: This paper describes the Custom solution that General Electric (GE) implemented in collaboration with Oracle to achieve Balancing by 2 segments in Release 12.1.3 of Oracle E-Business Suite (EBS). GE has the business need to Balance by both the Legal Entity (LE) and Management Entity (ME) segments in the Chart of Accounts. While Fusion Applications allow Balancing by 3 segments, Oracle EBS Applications do not have this Functionality. This paper covers the requirements and solution in detail for 2 Segment Balancing.

Happy Birthday to my Blog

I registered with WordPress.com for this blog six years ago today.  My first post was a review of my social calendar for OOW 2007, taking a swipe at Chevy’s, Elton John and Budweiser.  I went on to post 12 times in the remaining 13 days of November, including the now legendary Intercompany Vs Intracompany, it is still the most viewed post on my blog and has amassed 81,331 onsite view to date, which amazes me.  My second most popular post of all time is How do I define my Legal Entities? with 28,690 views and that post is also the most commented on post ever on my blog.  So I clearly did my most popular work in the first two weeks and have ridden that wave ever since.

So six years on I found inspiration at Oracle Open World again this year and am trying to get my blogging frequency up again, I have plenty of content in my mind, but it is finding the time and energy to form it into meaningful and digestible blog posts that takes the time.

FSAH and AGIS Intercompany Implementation thoughts

Written by David Haimes

As Intercompany transactions are very likely to cross systems they are a good candidate for integration in a ‘Hub’ of some sort.

In R12 the Financials Services Accounting Hub (FSAH) allows integration of third party systems to Oracle and is incredibly powerful and flexible.

Let’s use a simple example:

Company A and B both use two different Ledgers. A Sales Invoice is issued by Company A (to Company B) for $5,000

The accounting needs to be created as below, they need to be booked with the same accounting date in the same period.

In Company A

Debit Intercompany AR $5,000
Credit Intercompany sales $5,000

In Company B

Debit Expense or inventory (per content), $5,000
Credit Intercompany AP, $5,000

So there’s a number of options that come to mind (in no particular order).

1) Using Oracle Accounting Hub you can account for transactions form third party systems, it uses the Subledger accounting engine to process accounting events defined for the third party system. If your invoice systems are third party applications, you could create 2 events (one for each company/ledger/party to the transaction) for the sales invoice and get the full accounting out of the single system integration.

2) Enter these transactions in AGIS, the specific accounting will be entered/generated and approvals from company A and B obtained before AGIS either books it direct to GL or generates the Invoice for company A and B if required.

3) It may not be ideal to force users to navigate to a different screen (or change some import process, EDI, XML feed etc) to issue Intercompany invoices from other invoices as in 2) above. So continue to enter in your regular sales invoice system but run a process which detects an invoice is Intercompany and cancels it, then generates a transaction for it in AGIS (via the Open Interfaces) or FSAH.

I don’t think any one of these is right for all situations, detailed analysis of the particular implementation environment and requirements needs to be done to figure out the best approach. If you have any thoughts, better suggestions or experience then please share them in the comments.

Financials Sessions at Oracle Open World 2008

A lot of people are asking when various sessions are, readers of this blog are probably interested in Oracle EBS financials, Helle posted on Oracle Mix a couple of useful links. I recommend looking at this pdf which lists all the financials sessions including demogrounds, apps lounges, presentations etc.

My session is listed there, I look forward to seeing some of your there.

Thursday 25th, 3:00 p.m.

Moscone West 2006

Are Intercompany Processing and Reconciliation Currently Pain Points for Your Enterprise?

David Haimes, Oracle; Helle Hennings, Oracle

I blogged last year about the meet the Experts Lounge, well this year it has been renamed to Applications Lounge. I haven’t been asked to attend this year, so if you want to ask me any questions or provide feedback you’ll have to come to the session above, find me at the DEMOgrounds, the Blogger Meetup or follow me in twitter, or use this blog all year round – remember customer interaction is not just for Oracle Open World, it’s for life.

First Party? Third Party? Which Party am I?

Written by David Haimes

This is from an email sent to me by Amazon

==============================================

The following items have been shipped to you by Amazon.com:
---------------------------------------------------------------------
Qty      Item                           Price  Shipped  Subtotal
---------------------------------------------------------------------
Amazon.com items (Sold by Amazon.com, LLC):
1     Seventh Generation Chlorin...   $42.99      1   $42.99

===================================================

It tells me the Legal Entity that I have a contract with, if those Diapers don’t arrive as advertised I know it is Amazon.com, LLC that I need to drag through the Legal System, it will also tell me something about Continue reading “First Party? Third Party? Which Party am I?”