R12.1.X New Features

Ledger Architecture

• Ledgers: Define by Chart of Accounts, Calendars, Currency and Accounting Conventions.
• Ledger Sets: Group of Ledgers sharing the Same Chart of Accounts and Currency.

Centralized and Flexible Rules based Accounting Engine

• Ruled based engine with configurable accounting rules
• Single source of truth for accounting, reconciliation and reporting with common data model and repository and posting engine.
• Consistent data model and user interface across all subledgers.

Centralized Legal Entity Management

• Manage Legal Corporate Structure
• Link tax, intercompany, bank account and accounting functions
• Isolate legal compliance issues at legal entity from the management and security issues at operating Unit.

Centralized Banking and Payments

• Single user interface for all setup and maintenance related to banks and internal bank accounts.
• Centralized management of all funds capture and disbursements
• Centralized credit card management.

Centralized Global Tax Processing

• Centralized Tax Engine with single data model for rules and transactions across geographes and applications
• Centralized tax repository for global visibility
• Simplified tax configuration across legal entities and oracle apps.

Advanced Global Intercompany system

• Centralized intercompany and intracompany accounts setup
• Fully configurable approval rules and invoicing options.
• Physical Payables and Receivables intercompany invoice generation.

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