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How do oracle payments work?

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 Payment is the liability of an organization that will be paid off in an agreed timeframe, Okay I understand the basics of invoice processing and payments, in this digitalized world there are tons of sites that will explain the P2P cycle and the accounting impact, I understand this traditional way of getting ERP processes but as a newcomer to the Oracle functional financial consultant how do I know how payments will take place and the relevant configuration needed for it. To put it in simpler terms, there are two types of payment processing that we might opt for, i.e. Manual payment processing or Automatic payment processing Manual payment processing: Payments are made manually by running PPR (Payment process Request), after this has been run, we get the payment file, and the same file is uploaded into the bank site. From the specified path, the files would be picked up and the payments are cleared, then the UTR (Unique transaction references) is given in the bank statement which c...
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Transfer General Ledger Balances to Essbase program - FAQ

Question: 1 Is it necessary to run the 'Transfer General Ledger Balances to Essbase' program after loading a new account segment hierarchy or after enabling segment security on an account segment? Answer When a new hierarchy is created for a segment or security is enabled on a segment of the accounting flexfield it's not necessary to run the Transfer General Ledger Balances to Essbase program. Those changes will be reflected in the cube by publishing the hierarchy of the segment. You can use the Publish Account Hierarchies page to Publish Account Hierarchies pushing the changed settings to the Essbase cube Question: 2 What is the program "Transfer General Ledger Balances to Essbase program" used for? Answer Oracle Essbase is embedded within Oracle Fusion General Ledger and provides multidimensional balances cubes. Every time a transaction or journal is posted in General Ledger, the balances cubes are updated at the same time, therefore the program "Transfer ...
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GL Balance & ESS Base Database

Introduction to FRS Reports - For beginners  The ESS Base database is primarily used to derive GL balances by applying member combinations, which will aid the reporting needs, moreover, the data are easy multidimensional drag and drop features which makes it user-friendly and yet efficient    What are members? Member is a parameter that essentially provides a direction to get transactional balances. What are rows and columns? If you are aware of EBS, then this gives the same meaning in Fusion also. For non-EBS consultants, rows and columns can define how the data can be populated. For instance, I can fix account and financial year in columns and BSV (company segment) in a row. What is point of view? Point of view is an intersection parameter to retrieve data, this can be seen in each dimension in a data source. Here, dimension is nothing but a database item I will come up with a use case in the next post how any financial statement can be created in Oracle fusion FRS Happ...
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