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Oracle Fusion Financials: Clearing Accounts Explained In Oracle Fusion, Clearing Accounts are essential for bridging temporary balances between subledgers and the General Ledger. But what exactly are they, and why do they matter? ⸻ 🔹 What is a Clearing Account? → It’s a temporary holding account → Used when the final destination of funds is not yet determined → Commonly used in: • Bank reconciliations • AP/AR accounting • Payroll postings • Intercompany transactions ⸻ 🔹 How It Works → The system posts to the clearing account in Subledger → Then offsets it in GL when the transaction is finalized → It keeps your accounting balanced and traceable ⸻ ✅ Why It Matters ✔️ Prevents mismatches between modules ✔️ Helps identify stuck or incomplete transactions ✔️ Essential for clean reconciliations ✔️ Reduces audit risks ⸻ 💡 Tip: If your clearing account shows huge balances, it’s a red flag. Always reconcile it monthly.

One Time Payment-----> To make the payment without creating a supplier we can use the functionality called as one-time payment. The One Time Payments feature enables you to import transactions from external systems as payment requests. Use the File Based Data Import (FBDI) template and make payments through Oracle Fusion Cloud AP Application. You can import, update, approve, and pay transactions and get the status update for payments. Setups:-> 1. Enable One Time Payment in Financial Offerings. 2. Provide One Time Payment Accounts in Common Options. 3. Create Trading Community Source System (TCA). 4. Create Third Party Source System in Payables Lookups. Process:-> 1. Download Payables Payment Request Import FBDI Template . 2. Run Load Interface File for Import. 3. Import Payables Payment Requests Manage Business Unit (BU Location is mandatory for One Time Payment) 1. Go to User => Setup and Maintenance => Go to Actions => Go to Offerings => Select financials => Click on opt in Features. Select Payables Record and go to Features click on Edit. Select One Time Payment then Enable the checkbox. 2. Project => Manage Common Options for Payables and Procurement Go to One time Payment Section and Provide Liability and Expense Account If you want to make the payment to track you can maintain separate account 3. Project => Manage Trading Community Source Systems. 4. Project => Manage Payables Lookups Go to Financials Generic Lookup type: SOURCE 5. Project => Manage Business Unit (BU Location is mandatory for One Time Payment). 6. Download Payables Payment Request Import Template.

Oracle Fusion Integration Types   Oracle Fusion Applications provide powerful integration capabilities to seamlessly connect with external applications, third-party systems, and on-premise solutions. These integrations help organizations automate processes, exchange data efficiently, and maintain a unified business ecosystem.   Oracle Fusion Integration Methods in Detail 1.    File-Based Data Import (FBDI) FBDI is a structured batch upload process where data is prepared in CSV format, uploaded to Oracle Fusion, and processed via ESS jobs. Steps to Use FBDI: Download the FBDI template from Oracle. Fill in the required data (e.g., AP invoices, GL journals, suppliers). Generate CSV file from the template. Upload the file to Oracle via File Import and Export. Run the ESS job to process the data. Validate and review errors if any. Example: Importing 1,000 supplier invoices in one go instead of manual data entry.   2.    ADFDI (Application Development Framework Desktop Integration) ·        ADFDI is an Excel-based data entry tool for uploading transactional and setup data. ·        It allows real-time validations while entering data, reducing errors. ·        Commonly used for: o   General Ledger Journal Entries o   Fixed Assets Mass Additions o   AP Invoices ·        Example: o   A finance user wants to upload 50 journal entries with real-time validation in Excel.   3.    Oracle REST APIs & SOAP Web Services APIs allow real-time two-way integration between Oracle Fusion and external systems. Types: REST API: Lightweight, faster, used for modern integrations. SOAP Web Services: Used for legacy integrations needing structured XML-based communication. Example : Fetch live invoice status from Oracle Fusion. Create new suppliers in Fusion from an external system.   4.    BI Publisher Reports (Data Extraction) BI Publisher (BIP) is a reporting tool that can extract large volumes of structured data in formats like CSV, Excel, XML, or PDF. Example: Generating and sending customer invoices in PDF. Extracting supplier payment details for reconciliation.   5.    Oracle Integration Cloud (OIC) – Middleware Integration Oracle Integration Cloud (OIC) acts as a middleware for seamless connectivity between Fusion and external applications. Features of OIC: Prebuilt connectors for SAP, Salesforce, Workday, and third-party banks. Automates processes like supplier onboarding or order fulfillment. Supports real-time data sync between applications. Example: A company automates payroll data transfer from Workday to Oracle Fusion via OIC.   6.    B2B Integration (EDI & B2B Messaging) Used for electronic transactions between business partners, banks, and vendors. Supports formats like EDI, XML, and CSV. Example: A supplier submits an invoice via EDI, and Oracle Fusion automatically records the payable transaction. 

𝗦𝘁𝗲𝗽-𝗯𝘆-𝗦𝘁𝗲𝗽 𝗗𝗮𝘁𝗮 𝗠𝗶𝗴𝗿𝗮𝘁𝗶𝗼𝗻 𝗣𝗿𝗼𝗰𝗲𝘀𝘀 𝗳𝗼𝗿 𝗠𝗼𝘃𝗶𝗻𝗴 𝘁𝗼 𝗮 𝗡𝗲𝘄 𝗘𝗥𝗣 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲:   Step1: 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝗮𝗻𝗱 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 📝 🔹 𝗗𝗲𝗳𝗶𝗻𝗲 𝗢𝗯𝗷𝗲𝗰𝘁𝗶𝘃𝗲𝘀 – Understand why you are migrating (e.g., system upgrade, process improvement, compliance). 🔹 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝗦𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿𝘀 – Involve key users from IT, Finance, HR, and Operations. 🔹 𝗖𝗿𝗲𝗮𝘁𝗲 𝗮 𝗗𝗮𝘁𝗮 𝗠𝗶𝗴𝗿𝗮𝘁𝗶𝗼𝗻 𝗣𝗹𝗮𝗻 – Define scope, timeline, risks, and resource allocation. 🔹 𝗗𝗮𝘁𝗮 𝗠𝗮𝗽𝗽𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 – Identify where data is stored in the old system and where it should go in the new ERP.   hashtag#Step2: 𝗗𝗮𝘁𝗮 𝗔𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗖𝗹𝗲𝗮𝗻𝘀𝗶𝗻𝗴 🧹 🔹 𝗔𝗻𝗮𝗹𝘆𝘇𝗲 𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗗𝗮𝘁𝗮 – Identify redundant, outdated, or inconsistent data. 🔹 𝗖𝗹𝗲𝗮𝗻𝘀𝗲 𝗗𝗮𝘁𝗮 – Fix errors, remove duplicates, and standardize formats 🔹 𝗗𝗮𝘁𝗮 𝗩𝗮𝗹𝗶𝗱𝗮𝘁𝗶𝗼𝗻 – Ensure all necessary data fields exist and are correctly formatted. 🔹 𝗗𝗮𝘁𝗮 𝗢𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 – Assign responsibility for data integrity to relevant teams.   hashtag#Step3: 𝗗𝗮𝘁𝗮 𝗘𝘅𝘁𝗿𝗮𝗰𝘁𝗶𝗼𝗻 📤 🔹 Extract data from the legacy system using SQL queries or built-in export features. 🔹 Validate extracted data 🔹 Categorize extracted data into Master Data (customers, suppliers, products) and Transactional Data (purchase orders, invoices, inventory records).   hashtag#Step4: 𝗗𝗮𝘁𝗮 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 & 𝗠𝗮𝗽𝗽𝗶𝗻𝗴 🔄 🔹 𝗗𝗮𝘁𝗮 𝗠𝗮𝗽𝗽𝗶𝗻𝗴 – Align old system data fields with the new ERP system’s data structure. 🔹 𝗗𝗮𝘁𝗮 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝗶𝘇𝗮𝘁𝗶𝗼𝗻 – Convert codes, formats, and units of measurement. 🔹 𝗔𝗽𝗽𝗹𝘆 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗥𝘂𝗹𝗲𝘀 – Ensure data is structured according to business requirements   hashtag#Step5: 𝗗𝗮𝘁𝗮 𝗟𝗼𝗮𝗱𝗶𝗻𝗴 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝗡𝗲𝘄 𝗘𝗥𝗣 𝗦𝘆𝘀𝘁𝗲𝗺 📥 🔹 Load Master Data first (customers, vendors, products). 🔹 Load Transactional Data next (open orders, pending invoices, stock balances). 🔹 Use ERP data import tools 🔹 Perform data integrity checks after loading.   hashtag#Step6: 𝗗𝗮𝘁𝗮 𝗩𝗮𝗹𝗶𝗱𝗮𝘁𝗶𝗼𝗻 & 𝗧𝗲𝘀𝘁𝗶𝗻𝗴 ✅ 🔹 𝗧𝗲𝘀𝘁 𝗱𝗮𝘁𝗮 𝗮𝗰𝗰𝘂𝗿𝗮𝗰𝘆 – Verify loaded data matches expectations. 🔹 𝗥𝘂𝗻 𝗲𝗻𝗱-𝘁𝗼-𝗲𝗻𝗱 𝘁𝗲𝘀𝘁𝗶𝗻𝗴 – Validate processes like P2P, Order to Cash etc. 🔹 𝗨𝘀𝗲𝗿 𝗔𝗰𝗰𝗲𝗽𝘁𝗮𝗻𝗰𝗲 𝗧𝗲𝘀𝘁𝗶𝗻𝗴 (𝗨𝗔𝗧) – Business users test real scenarios to ensure data accuracy. 🔹 𝗙𝗶𝘅 𝗗𝗮𝘁𝗮 𝗜𝘀𝘀𝘂𝗲𝘀 – Identify and correct missing or incorrect data.   Step7: 𝗚𝗼-𝗟𝗶𝘃𝗲 𝗮𝗻𝗱 𝗣𝗼𝘀𝘁-𝗠𝗶𝗴𝗿𝗮𝘁𝗶𝗼𝗻 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 🚀 🔹 𝗙𝗶𝗻𝗮𝗹 𝗗𝗮𝘁𝗮 𝗖𝘂𝘁𝗼𝘃𝗲𝗿 – Perform final migration before the system goes live. 🔹 𝗠𝗼𝗻𝗶𝘁𝗼𝗿 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 – Ensure data behaves as expected in the new ERP. 🔹 𝗧𝗿𝗮𝗶𝗻 𝗨𝘀𝗲𝗿𝘀 – Educate employees on how to use the new system. 🔹 𝗥𝗲𝘀𝗼𝗹𝘃𝗲 𝗜𝘀𝘀𝘂𝗲𝘀 𝗤𝘂𝗶𝗰𝗸𝗹𝘆 – Provide support for any data-related issues.

Full time Position - Oracle Practice Sales head Work Location - Hyderabad (Work from Office) Are you a highly motivated sales professional experienced in selling Oracle SaaS consulting services? Skills- Responsible for Oracle Cloud SAAS/PAAS Transformation, Oracle Managed Services, Upgrade Sales for key verticals such as BFSI/Retail/Healthcare/Manufacturing in Americas, UAE verticals. Responsible for identifying and closing both net-new logos and working with existing accounts on new deals in the Oracle domain. Managing Oracle interactions to generate pipeline required to generate sales. Oversight to US Sales and generating $10m pipeline through Oracle and other verticals every quarter.

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