Accounts Receivable

Accounts Receivable

Functional Comparison - Oracle Cloud Accounts Receivable vs Oracle EBS Accounts Receivable

EBS Description	Translates to AR in Cloud
Business Group	Enterprise
Operating Unit	Business Unit
Accounting Rules	Revenue Schedules
Finance Charge	Late Charge

(Only the functionalities that are substantially different/ enhanced have been mentioned)

Criterion	Cloud Applications (Release 13 - 22A)	EBS Applications (Release 12.1.x & above)	Cloud Improvement Metrics	Rationale for score
Functionalities : Gaining efficiencies by having efficient business processes supported by Cloud
Processing payments received from customer using Smart Receipts	Process to automatically match Receipts based on match recommendation score derived from matching rule weights	No Smart Receipt feature in EBS, only simple lockbox was available	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Extended functionality to match Receipts to Invoices automatically reducing manual matching
Revenue Recognition Compliance	Centralized and automated revenue management to address revenue as per ASC 606 and IFRS 15 accounting standard with ability to recognize revenue independent of billing	Revenue recognition is dependent on invoicing	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Significantly reduces manual adjustments and potentially eliminates complex extensions/ workarounds
Enhanced Auto Accounting for Bills Receivables	Flexibility to derive accounts based on auto accounting rules for Factored (Brokered), Remitted and Unpaid bills receivable	Only one option for Bills receivable to derive accounting is available in EBS	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Eliminates manual adjustments and potentially avoid complex extensions/ workarounds
Transaction Delivery	Send printed documents using customer email options	No standard functionality available in application	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Potential for change to existing process without impacting efficiency
Credit Memo and Adjustment Approval	Interface to configure complex approval rules using Approval Management Extensions (AMX)	Only simple approval rules can be configured in the application	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Significant improvement in compliance and higher degree of digitization
Automation of Joint Venture Credit Memo	Through integration with Joint Venture cloud management, with the new transaction type 'JV Credit Memo', process for credit memo is automated	Integration with Joint Venture cloud management does not exist	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Integration with automation provides improved processing of credit memo, traceability and control for Joint Venture organizations
Revenue Impact for Credit Memo	Revenue reversal is done using last date of earliest open period instead of system date for accounting of revenue reversal, creating accounting as close to the original transaction for improved revenue reporting	This functionality is not available	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Avoid manual adjustments earlier required for correct revenue reporting
Application of Unidentified Receipts from the Review Receipt Page	Can now use Add Open Receivables button to derive customer information for an unidentified receipt	Functionality was available by navigating to multiple screens	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Brings about improvement in receipt application of unidentified receipts
Cash Pooling for Multifund Accounting	Ability to perform cash pooling and generate appropriate accounting	Limited functionality	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Manual transaction/ accounting entries for cash pooling can be eliminated
Lockbox Receipt Matching	Provides ability to add structured payment for receipts created through lockbox as reference for automatic bank statement reconciliation	This functionality is not available	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Significantly reduces number of manual matching of receipt transactions
Party Tax Profile	All tax setup including tax profiles for customer/ customer site is centralized under Oracle Tax where common pofiles can be used across site with similar tax treatment	Party tax profile is maintianed under Receiavbles mapping to Cusomer/ Customer site	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Fewer tax profiles increase efficiency, reusability improves compliance
Receivables to General Ledger Reconciliation	Provides details with ability to drill down, enabling easy reconciliation between Receivables and General Ledger	No drilldown is available	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Efficient reconciliation process ensures timely close of books
Shared Services	Processing payments received from customers centrally for multiple business units operating under shared services model	Required switching between operating units even with MOAC	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Opportunity to use shared services. For organizations already using shared services, brings efficiency and reduces costs
Review Customer Account Details or Balances	One screen to review customer transaction activities and balances across multiple business units	Required switching between operating units even with MOAC	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Improved business decisions with better visibility
Migrations/ Conversion/ Intengation : Quick and reliable path to cloud
Open Transactions and Receipts Conversions	MS Excel based templates (File Based Data Import) have been provided	Standard forms to key in the text manually or going thru extensions	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Faster migration to cloud with simplified conversion/ integration process
Bank Data for Lockbox
Customer Conversions
Reporting and Analytics : Easy, advanced visualizations
Reporting	Highly flexible reporting providing excellent data visualization are available using Oracle Transactional Business Intelligence (OTBI)	Limited standard reports availability and requires development of custom reports	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Easier for users to build reports accommodating diverse business requirements
Receivables Dashboard	User interactive dashboards and work areas for billing, receipts and revenue with recommended daily actions and access to perform transactions can be easily configured	No standard dashboard available in application	Improves Efficiency Process Improvement Improves Data Integrity Eliminates Extension/ Workarounds Improves Compliance	Provides multiple Infolets with high level of data flexibility, actions performed, pending actions, notifications, graphs and possibility of minimal errors with data control compliance