Oracle Payables New Features By Quarterly Updates
https://docs.oracle.com/en/cloud/saas/readiness/erp-all.html
https://docs.oracle.com/en/cloud/saas/financials/25c/fappp/overview-of-transaction-account-definition.html#u30243657
22A
Payables
1.Automatic Notifications to Suppliers for Rejected Electronic Invoices in Industry Standard XML
2.Configurable Payables Workflow Notifications
3.Invoice Requester Recognized from Invoice Document
22B
Payables
1.Adaptive Learning Data Sharing Between Environments for Intelligent Document Recognition
2.Adaptive Learning for Invoice Lines Using Intelligent Document Recognition
3.Adaptive Learning for Routing Attributes Using Intelligent Document Recognition
4.Legal Entity Recognition from Invoice Document
5.Receipt-Matched Invoices for Catch Weight Items
6.Recognition of Specific Internal Suppliers for Invoices Created Using Intelligent Document Recognition
7.Recognition of Supporting Document Separators for Invoices Using Intelligent Document Recognition
Payments
Fiserv SnapPay Integration and Credit Card Processing
22C:
1.Simplified Workflow Rules Configuration Enhancements
2.Payment Approval Based on Payment Process Request Total Amount
3.Exclusion of Documents from Tax Calculation by Partner
22D:
Payables
1.Additional Attributes for Rule Configuration for Payable Workflows
Use purchase order additional attributes and descriptive flexfields for supplier and supplier site to configure invoice approval rules and route workflow notifications to approvers.
This is the list of additional attributes and descriptive flexfields that workflow administrators can use to configure invoice approval workflow rules.
- Supplier Descriptive Flexfields
- Supplier Descriptive Flexfield1 to Supplier Descriptive Flexfield 20
- Supplier Descriptive Flexfield Number 1 to Supplier Descriptive Flexfield Number 10
- Supplier Site Descriptive Flexfields
- Supplier Site Descriptive Flexfield1 to Supplier Site Descriptive Flexfield 20
- Supplier Site Descriptive Flexfield Number 1 to Supplier Site Descriptive Flexfield Number 10
- Purchase Order Header Additional Attributes:
- Freight Terms
- Total Purchase Order Matched Amount
- Purchase Order Line Additional Attributes
- Purchase Order Line Category Name
- Purchase Basis
- Purchase Order Schedule Additional Attributes
- Match Approval Level
- Purchase Order Matched Amount
- Purchase Order Destination Type
- Purchase Order Destination Type Lookup Code
**2.Campaign Management for Early Payment Discount Offers <<In Oracle Cloud applications, APR typically refers to the Annual Percentage Rate used in early payment discounts>>
Onboard suppliers into an early payment discounts program via email-based campaigns. Suppliers can respond directly from the email. The responses are automatically processed and applied in payment process requests. Suppliers can either accept a one-time offer, enroll into a standing offer, decline the offer, or unsubscribe from the campaign.
This feature provides an automated process for onboarding suppliers into the early payment discount program. Create a campaign to define the offer terms and duration. Identify suppliers to target for an early payment discount campaign by applying selection criteria on the Payment Discounts page in Oracle AI Apps for ERP.
Configure the email template according to business requirements, including the email verbiage, email subject, and sender name and address. The email contains all of the details required for a supplier to take an informed decision including the currently eligible invoices, discount calculation, and actions available. Suppliers can take action directly from the email and the responses are automatically processed and applied in payment process requests.
Suppliers can choose one of the following responses:
- Accept a one-time offer: Only the invoices that are ready for payment are listed in the email and selected for early payment. Other eligible invoices may be included in future email offers.
- Enroll into a standing offer: All invoices are paid early on the same terms going forward.
- Decline the offer: Invoices aren’t accelerated for payment. Eligible invoices may be included again in future email offers.
- Unsubscribe: No further emails will be sent to the supplier for this campaign.
After suppliers accept a one-time offer or enroll into standing offers, Payments Managers can select all applicable early payment invoices when initiating payments on the Submit Payment Process Request page in Oracle Payables.
The benefits of this feature include the following:
- Automated onboarding of suppliers into an early payment discount program
- Extend early payment discount offers to all targeted suppliers with just one click at the required frequency
- Automated processing of accepted early payment discount offers
- Buyers can get a higher return on investment in comparison to alternative investments for available working capital
- Suppliers can access additional short-term working capital
3.Intelligent Account Combination Defaulting for Invoices
Experience intelligent defaulting of accounting information for no-PO invoice lines. This feature uses Al and machine learning algorithms to predict and default segment values of the account code combination on accounts payable invoice lines. AI and machine learning use the historic data patterns and the specific influencing factors for each segment to predict their value.
These are some of the business benefits of this feature:
- Significantly reduce invoice entry time and accelerate the process of making invoice ready for payment
- Reduce “think time” for Accounts Payable analysts
- Allow user to focus on data accuracy rather than data entry
- Improve the user experience
- Allow AI to improve the prediction accuracy for segments by learning from the user edits
Tips And Considerations
- All relevant data in the header and line fields should be entered before the AI prediction is invoked.
- At least 3 months of invoice history should be available for satisfactory rendering of predictions by the AI models. Additional invoice history will be beneficial to improve the prediction performance.
Payments
1.Routing Number and Sort Code Search for US and UK Employee Bank Account Creation
Provide US and UK employees improved bank account creation. An employee can search for a bank by routing number (in US) and sort code (in UK) and create a bank account without knowing the bank and branch details.
Tips And Considerations
Before using this feature, ensure the following:
- The required bank/branch is already created in Cash Management.
- CE_USE_EXISTING_BANK_BRANCH profile option is set to Yes and the bank account country is US or UK. If the profile option is set to No, employees can create the bank account by entering the routing number or sort code manually.
This feature also works while creating a bank account in Expenses, Cash Management (Ad hoc payment), and Bill Management applications.
23A
Payables
Cancellation of Unsubmitted Invoices to Expedite Period Closure
Invoice Line Recognition Rate Details for Monitoring Accuracy
Matching of Invoices with Purchase Order Lines with Vendor Credits
Fuzzy Matching of Description Between Invoice Lines and Purchase Orders
Payments
VAT Payment in Local Currency for Poland Foreign Currency Invoices
23B
Payables
Automatic Reevaluation and Release of Duplicate Invoice Holds
Matching of Invoices with Purchase Order Lines with Supplier Credit from Supplier Portal
Maturity Date Parameter Increment for Update Matured Bills Payable Status Schedule Runs
Payment Priority Update on Payment Request Invoice Installments Using a REST API
Performance Evaluation Reports for Intelligent Account Combination Defaulting
Search and Update Suppliers Assigned to Dynamic Discounting Campaigns
Payments
Automatic Resumption of Payment Process Request After Payment Approval
23C
Payables
Accounting Configuration for Lease Accounting Invoices in Payables Based on Lease and Property Details
Form 1099-G for Government Payments Towards Unemployment Compensation, Taxable Grants, and Agricultural Subsidy Payments
Instructions for Recipient on Copy B of Form 1099-MISC and Form 1099-NEC
Management of Invoices Enabled for Funds Reservation Using a REST API
Matching of Invoices to Negative Purchase Order Lines with Supplier Credits Using a REST API
Single 1099 Return for a Tax Reporting Entity
Tax Calculation Based on One-Time Location for Purchase Order Matched Invoices
Payments
Upgrade of ISO 20022 Payment and Direct Debit Templates to 2019 Version
23D
Payables
1.Automated Distribution Creation Using a Transaction Account Definition
Account combination is derived on Payable’s invoice lines when the following conditions are satisfied.
- Account derivation through Transaction Account Definition is enabled in Manage Invoice Options setup.
- Invoice type is of Standard, Debit Memo, and Credit Memo. Not applicable for Payment Request, and Prepayment.
- Invoice line type is item, freight or miscellaneous.
- Invoice line is not matched to purchase order.
- Distributions are not yet generated for the invoice line.
- Invoice line is not cancelled, and it does not have account combination or distribution set either provided by the user or defaulted from any other setups.
- Invoice is not in incomplete status.
Business benefits include:
- Increased productivity by saving effort spent on manual derivation of expense account combination.
- Reduced errors from automating several steps in deriving account combination.
A transaction account definition eliminates these manual activities:
- Providing the account combination during invoice creation process
- Providing account combination details through the account coding workflow process
- Reviewing the account combination details during the invoice approval workflow process.
The following flows are not impacted by this feature:
- Derivation of expense account combination for Invoice types of Payment Request and Prepayment.
- Payment request will continue to derive the account combination from the source product that creates the document.
- For Prepayment invoices, the advance paid account combination will continue to default from the Payables Options.
- Transaction account definition-based derivation is not supported for following account combination.
- Invoice liability account. It will continue to default from supplier site configuration.
- Multiperiod accrual account. You will continue to enter the account manually.
- Nonrecoverable tax and recoverable tax account. It will continue to default from the tax configuration.
- Invoice distribution level account derivation through transaction account definition. Invoice distributions shall continue to use the account combination on invoice lines as the default value. You can manually enter the values on the distributions or override the account defaulted from the invoice line.
- Account combination for lines matched to purchase order are derived from the purchase order.
Users who are assigned these Payables job roles can access this feature.
- Accounts Payable Invoice Supervisor
- Accounts Payable Supervisor
- Accounts Payable Manager
2.Business Calendar for Payment Processing Requests
3.Embedded Banking Services with J.P. Morgan
4.Single 1099 Return for a Tax Reporting Entity
5.Tolerance Validation for PO Quantity on Supplier Portal Invoices
Payments
6.ISO 20022 Disbursement Acknowledgment
24A:
1,Approvals Work Area with Enhanced User Interface and Adaptive Search'
2.Embedded Tax Compliance Service for Avalara
Payables
1.Performance Improvements to the Payables Holds Infotile
**2.IDR Supplier Derivation in Email Subject
Derive the supplier on incoming invoices from the supplier number prefix in the email subject line using IDR. Suppliers derived in this way take precedence over the standard IDR supplier detection.
You can now easily improve the supplier recognition accuracy on non-PO invoices by instructing your suppliers to insert a valid Supplier Number within parentheses as a prefix in the email subject line.
Business benefit:
Increase efficiency by improving the supplier recognition accuracy.
Order of Precedence for Supplier Detection in IDR
- PO Number: IDR derives the supplier from the PO number detected on the invoice.
- Supplier Number in Email Subject: IDR detects a valid supplier number in the email subject.
- Supplier Detection: IDR matches supplier name, address, and other identifying information to detect the supplier.
3.IDR Language Support for Danish, Turkish, and French
**4.Campaign Enhancements for Dynamic Discounting
Select suppliers for a dynamic discounting campaign based on payment terms, payment method, and payment currency. In order to maximize the effectiveness of the campaign, enable the campaign manager to select suppliers according to these criteria: suppliers with longer payment terms; suppliers who receive payments electronically; and currencies where the buyer has surplus cash.
Business benefits include:
- Improved effectiveness of dynamic discounting campaign by targeting suppliers who are more likely to accept offer.
- Improved usability in building campaigns.
**5.Assignment of Exception Categories to Payables Exceptions
Generate the Payables Exception Report to view the invoice exceptions grouped by the exception categories. You can use the report to delegate specific exceptions to resources for reviewing and resolving them.
Generate the report by running the task Run Payables Exception Listing from the Tasks pane on the Invoices landing page. You will receive the report through in-app notification. While submitting the request to generate the report, you can opt to be notified by an email. The exception listing request supports following parameters.
- Exception Type: Type of exception like Holds, Approval Rejections, Import Rejections
- Ledger
- Business Unit
- Source
- Supplier
- Exception Category
- Notify: User who should be notified with the report output.
The business benefits include
- Increases efficiency by streamlining exception assignment for user action.
- Improves decision-making for Payables Managers in resource allocation.
Payments
3.Employee Bank Account Creation Using a Unique Bank Identifier
24B:
1.Global Indirect Tax Automation with Avalara
2.List of Value Support for Accounts in the External Taxable Transactions Spreadsheet
Payables
1.Embedded Banking Services with J.P. Morgan for SEPA Payments
2.Invoice Hold Placement and Release for Expense Reports Using a REST API
3.Improvement in Supplier Site Selection for Supplier Portal Invoices Based on Purchase Order details
**4.Escheatment of Unclaimed Checks
Identify and escheat unclaimed checks issued for payments to suppliers, or issued to employees for expense payments, that haven't been presented for clearing during a specific period of time, and transfer the amount to the appropriate local authority. You can also generate a report with a list of payments that are escheated or initiated for escheatment.
Escheatment Process Steps:
1.Identify the stale dated check payments in Manage Payments page using payment date criteria.
2.Select "Initiate Escheat" action on a single payment or selected multiple payments identified as stale dated check payments. After payment is Initiated for escheatment, the payment status will be changed to Escheatment Initiated.
3.Send stop payment instructions to the corresponding banks for all payments in the Escheatment Initiated status.
4.After performing due diligence on all stale dated payments, use the Manage Payments page to search for and select payments in the Escheatment Initiated status in and submit the Escheat action.
5.The payments status changes to Escheated. There is no further activity on escheated payments.
6.Run accounting process for the escheated payments to transfer the amount from Cash or Cash clearing account, to Unclaimed Fund account.
7.Create a Payables invoice for payment to the escheatment authority.
Accounting Entries for the Payment and Escheated Payment when Offset Segments option is set to None and Account for Payment option is set to at Payment Issue and Clearing.
When payment is accounted:
Dr Supplier Liability Account
Cr Cash/Cash Clearing Account
When payment is escheated:
Dr Cash/Cash Clearing Account
Cr Unclaimed Fund Account
Create invoice manually on Escheatment Authority:
Dr Unclaimed Fund Account
Cr Escheatment Authority Liability Account
Generation of accounting entries for the escheated payment will be different based on Offset Segments and when to account payment options.
Report:
Run the Escheated Payments Listing Report for a list of Escheated and Initiated for Escheatment payments.
8.Search for and select the Escheatment authority supplier to create the invoice for this authority.
9.Review Escheatment invoice from Manage Invoice page
10.An Escheatment invoice distribution is created using the unclaimed fund account.
Tips And Considerations
- You can only escheat check payments in the Negotiable status and in the ledger currency. Payment is eligible for the escheatment only when the payment is done using the Payment Process Profile configured with Processing Type "Printed".
- Payment cannot be initiated for escheatment for the Manual or Refund or Netting and Prepayment payments.
- You can't escheat cross-business-unit payments.
- New accounting event class "Escheated Payments" with event type "Payment Escheated" seeded in Subledger Accounting and assigned to the seeded accounting method.
Access Requirements
New privilege called "Escheat Unclaimed Payments" predefined to secure the "Initiate Escheat" and "Escheat" actions in Manage Payments page. This new privilege is added to the seeded duty role called "Payables Payment Processing Duty". This duty role assigned to the seeded "Accounts Payable Supervisor" and "Accounts Payable Manager" job role.
5.Electronic Filing of Forms 1099-MISC and 1099-NEC for Tax Year 2023
**6.Additional Fields in the One Time Payment FBDI Spreadsheet
Capture additional information for the One-Time Payment File-Based Data Import, including URL attachments, remittance messages and values contained in additional invoice fields.
The additional fields are:
- URL Attachments
- Remittance Message 1
- Remittance Message 2
- Remittance Message 3
Business benefit:
Reduce manual effort of AP department with additional fields in the one-time payment FBDI spreadsheet.
Tips And Considerations
- You can enter multiple attachment URLs in the URL Attachments cell of the OTP FBDI.
- On a successful import - the URL provided in the FBDI will get created with
- Type- URL
- Category – Payables Supporting Document .
- The URL value will be populated in File Name or URL column.
- Title will be populated as "“URL Attachment for Invoice XXX”. (XXX being Invoice Number).
- Attached by value will be the "Created BY" value.
**7.Adaptive Learning for Entire Invoice and Supplier Corrections
IDR adds support for these eight additional attributes:
- Payment Terms
- Ship-to Location
- First-Party Tax Registration Number
- Supplier Tax Registration Number
- Multiperiod Accounting: Start Date
- Multiperiod Accounting: End Date
- Asset: Project Number
- Asset: Task Number
Use the Interactive Viewer to make corrections to incomplete invoices. Making adaptive learning corrections to the incomplete invoices shows IDR where to recognize the missed attribute for subsequent invoices processed for the same supplier.
Business benefit:
Increase productivity by reducing time and effort spent on manual updates. Adaptive Learning trains IDR to recognize these fields automatically on subsequent invoices processed for the same supplier.
Payments
1.Positive Pay File Generation and Transmission for Outsourced Checks
Banks verify that outsourced check payments are printed or voided as per the instructions shared in the positive pay file. The payment status in the bank is always reconciled and synced up with the corresponding status in the ERP application. Automatically generate positive pay files for outsourced check payments included in the electronic payment file.
The enhancement to generate a Positive Pay File for outsourced check payments helps banks and business organizations to eliminate fraud and establish effective internal control on the payment and clearing activities.
Tips And Considerations
The positive pay file for the electronic payments uses the transmission configuration set up in the payment system. A new Payment System Account - Positive Pay Transmission Configuration is predefined in the ISO20022 Payment System.
Name - Positive Pay File Transmission Configuration
Code - POSITIVE_PAY_TRANSMIT_CONFIG
The transmission configuration must be added to the ISO20022 payment system and this must be attached to the payment process profile. Alternatively, users can add the same payment system account setting to other payment systems and attach the same to the payment process profile.
2.Simultaneous Usage of Multiple Payment Gateways
Use multiple payment gateways simultaneously in a single environment for tokenizing customer credit cards. This provides the funds capture setup greater versatility and allows customers to use alternative payment gateways owing to the constraints of each payment gateway, such as geographic coverage, supported currencies, supported industries, and cost disparities.
24C:
**1.Reporting-Only Taxes and Calculation Formulas in Withholding
Use reporting-only withholding taxes and withholding calculation formulas to develop complex tax scenarios and generate temporary tax results before calculating final withholding tax.
Business benefits include:
- Create reporting-only withholding taxes to generate intermediate tax amounts that can be used for the final withholding tax calculation.
Use the withholding taxable basis formula and tax calculation formula to address complex withholding tax calculations, including the use of the assessable value as the taxable amount basis.
Calculate the Argentina SUSS withholding using a withholding taxable basis formula with assessable value taxable amount basis type.
**2.Enhanced Tax Rapid Implementation
Use the additional columns in Tax Rapid Implementation to enter information related to tax rate controls and offset tax and recovery rates.
The following fields are included in the Manage Rates worksheet of the tax configuration workbook and the tax rates template spreadsheet.
- Offset Rate Code
- Default Recovery Rate Code
- Tax Inclusion Method
- Allow override and entry of inclusive tax lines
Business Benefits:
- Reduces the manual effort in updating offset and recovery tax rates, and tax-related options, using Tax Rapid Implementation. Tax Rapid Implementation is used for initial configuration of tax and ongoing maintenance when business or tax regulations change. The new fields introduced are commonly used by many customers and require a significant amount of manual effort to update, when the number of tax rates uploaded is high. It offers an option to provide the values for these fields when creating tax rates using Tax Rapid Implementation.
- Helps fulfill tax requirements of organizations with strict configuration access policies.
Tips And Considerations
- The offset rates and the recovery rates referenced in these columns must already be created prior to uploading the spreadsheet.
- The recovery rate can be created using the Manage Tax Recovery Rates worksheet along with the tax rate in the same tax configuration workbook.
**3.Invoice Creation for Remitting Escheated Payments to the Escheatment Authority
**4.Multiperiod Accounting Distribution Creation Using Transaction Account Definition
Invoice Import Process:
- For invoice lines related to multiperiod accrual accounting, the user needs to provide only the date fields, which are the start date and end date, and leave the multiperiod accrual account blank for TAD to default it. However, if TAD cannot derive the accrual account, the invoice is rejected.
Create Invoice page:
- For invoice lines that are related to multiperiod accrual accounting, the user must enter only the date fields, which are the start date and end date. An error is displayed if user enters only one date of the two dates. Users can either enter the MPA accrual account manually or leave it blank for TAD to default it.
- Distributions are not generated for invoice lines that have multiperiod accounting dates but not the multiperiod accrual account.
Invoice Validation process:
- During invoice validation, TAD is invoked to default the multiperiod accrual account for all invoice lines that have multiperiod date information but not the multiperiod accrual account. Such invoice lines are placed on a “Multiperiod Accrual Account Required” hold if the multiperiod accrual account cannot be defaulted through TAD.
- The “Multiperiod Accrual Account Required” hold is automatically released when the multiperiod accrual account is populated on the invoice line, either manually by the user or automatically by the TAD.
- From the manage holds page, the user can review the errors, if any, raised by the sub-ledger accounting module during TAD-based account derivation.
Business Benefits:
- Increased productivity by saving effort spent on manual derivation of multiperiod accrual account combinations.
- Reduced errors from automating several steps in deriving the account combination.
Tips And Considerations
- Transaction Account Definition does not support the derivation of the following account combinations.
- Invoice liability account. It will continue to default from the supplier site configuration.
- Nonrecoverable tax and recoverable tax accounts. They will continue to default from the tax configuration.
- Account combinations are derived, using Transaction Account Definition, on Payable’s invoice lines when the following conditions are satisfied:
- Account derivation through Transaction Account Definition is enabled in the Manage Invoice Options setup.
- Invoice type is Standard, Debit Memo, and Credit Memo. Not applicable for Payment Request, and Prepayment.
- Invoice line type is item, freight, or miscellaneous.
- The invoice line is not matched to the purchase order.
- Distributions are not yet generated for the invoice line.
- The invoice line is not canceled,
- On the invoice line, neither account combination nor distribution set is defaulted from any other setups or provided by the user.
- The status of the invoice is not incomplete.
Users who are assigned these Payables job roles can access this feature.
- Accounts Payable Invoice Supervisor
- Accounts Payable Supervisor
- Accounts Payable Manager
5.Proration of Freight and Miscellaneous Lines for IDR Invoices
Business Benefits:
- Reduces manual updates to freight and miscellaneous lines.
- Ensures correct defaulting of account code combination to freight and miscellaneous lines.
6.Payment Confirmation Acknowledgements Using a REST API
Tips And Considerations
The following new attributes are added to the 'Payables Payments' REST API.
- Iby Payment Status
- Invoice Amount
- Invoice Payment Amount
7.Automatic Completion of Printed Payment Files
Complete the processing of printed payment files by overriding the additional user action 'Record Print Status'. The override action is performed when the 'Automatically Record Check Print Status' option is selected on the 'Payment Process Profile'.
This will automatically create the printed checks without user intervention to review the check printing status.
Enable the opt-in and set the following options:
- Select the 'Automatically Record Check Print Status' check box available on Payment Process Profile after entering the lookup code.
- Select the 'Payment File' option on the Payment Process Profile as 'Printer' to override the recording of the check print status.
