…And they weren’t lying.
We’ve opened numerous Service Requests with My Oracle Support for multiple reasons. This might be of greatest interest to the technical folks, but we wanted to keep everyone in the loop.
HTTP 404 Error Accessing tooamconsole
Failed to initialize the application odsm
Unable to load filesystem “ocfs2_dlmfs”, using “o2cb configure”
So Oracle, is helping IT Convergence by assigning a team to support our account. The team is composed by a Program Manager and a multi-disciplinary group of Oracle Support, Development and Functional experts from all over the world that will be helping us to speed up the installation and implementation process. Our goal has been to see this first installation through to fruition, and we’re doing whatever it takes to get it done.
So, while our technical team is working on the setup, let’s review the concept behind the new Fusion General Ledger. The main objectives of the module are: optimize, protect, and create value.
Today, finance departments need to improve operating practices to reduce cost, enhance controls and fast-track the decision making process. Finance departments also have to meet local regulations and multiple reporting requirements and create value to make fast and reliable decisions that require timely and trusted information.
The Fusion Accounting Hub is a complete set of accounting tools that provides an end-to-end solution for accurately recording business transactions.
- General Ledger captures transactions using journal entries, which are posted to simultaneously update the GL balances table and cube.
- A subledger accounting rule engine provides a pathway to bring in transactions from native Fusion subledger applications like Payables, Receivables, Assets, Inventory, among others, applying the desired accounting treatment.
- Advanced intercompany accounting capabilities provide a framework to effectively record, manage and reconcile intercompany transactions throughout the enterprise.
- An allocation engine supports complex formulas to distribute revenue and costs throughout the organization with resulting calculations automatically generated as journal entries, thus providing more accurate insights to the profitability and costs of individual business units.
- A subledger accounting engine also serves as a gateway for bringing in transactions from Oracle E-Business Suite and PeopleSoft Enterprise, to support the Applications Unlimited model. For IT Convergence’s R12 E-Business Suite, full drill-back capabilities will be available providing a tight integration model with the Fusion Accounting Hub.
A new feature that was inherited from PeopleSoft is the Account Hierarchies Trees. This allows to have parent-child relationships for any account.
With the acquisition of Hyperion, Oracle got the Essbase product and they integrated the EssbaseCubes into Fusion Applications General Ledger to store large quantities of data in a way that can be accessed rapidly and also to manage and organize this data for intuitive and immediate decision support.
With the Fusion GL cube, the balances are instantly available for any dimension in the Chart of Accounts, at any level of summary or detail, with the latest real-time data from the posted journals.
It’s like a data warehouse, and it is fast and powerful for data analysis and retrieval. But unlike a data warehouse, balances in the cube are updated in real time whenever a journal is posted in General Ledger, so they always show the most up-to-date and accurate financial information.
More features were added to Fusion Applications General Ledger such as: Slicing and Dicing, Pivoting, Expansion, Drill-down, Real Time, a General Accounting and Account Monitor Dashboard, a new Close Status Monitor which enhances the visibility of the status of the close process (which is something we always asked for in EBS), and the new Oracle Transactional Business Intelligence (OTBI) among others which will be presented in the future communications are making this product the best of breed.