Introduction : AP Module 12 Release New Features

Introduction : AP Module 12 Release New Features, askhareesh blog for Oracle Applications
Introduction
In Release 12, the Oracle E-Business Suite introduces Subledger Accounting, E-Business Tax, Ledgers, Banks and other common data model components that are used by Oracle Payables.

The following are new in Release 12:
  • Suppliers are defined as Parties within Oracle Trading Community Architecture.
  • Invoice Lines are introduced as an entity between the invoice header and invoice distributions in order to better match the structure of invoice documents and improve the flow of information like manufacturer, model, and serial number from Purchasing through to Assets.
  • Banks, bank branches and internal bank accounts are defined centrally and managed in Oracle Cash Management.
  • Document sequencing of payments has moved to the Cash Management bank account uses setup
  • Payments, and all funds disbursement activities, are handled by a new module, Oracle Payments
  • Payment features controlled by Global Descriptive Flexfields (GDF) in prior releases have been consolidated and migrated into the data models of Oracle Payables, Oracle Payments and Oracle Cash Management. The architecture of this solution moves attributes from the GDFs, which are obsolete in Release 12, to regular fields on the appropriate entity, including the invoice, payment format & document, supplier site, and bank account. Having a single code base as opposed to GDFs implemented per country simplifies global implementations and streamlines transaction processing.
  • Oracle Subledger Accounting, a new module in Release 12, handles accounting definitions and all accounting setup associated with a Ledger. (In Release 12, Oracle General Ledger has replaced Sets of Books with Ledgers.) As part of this change, centralized accounting reports are available to all applications. Additionally, Oracle Payables introduces a new Trial Balance report.
  • Oracle E-Business Tax, a new module, manages transaction tax setup associated with trading partners and tax authorities, as well as all transaction tax processing and reporting across the E-Business suite of applications. Part of the architecture of this solution moves tax attributes from Global Descriptive Flexfields (GDFs), which are obsolete in Release 12, to regular fields on the appropriate entities.
  • A Responsibility can be associated with multiple Operating Units using Multi Organizations Access Control. Due to this change, all processing and some reporting in Oracle Payables is available across Operating Units from a single applications responsibility. Hence you can isolate your transaction data by operating unit for security and local level compliance while still enabling shared service center processing. 

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