What are the Oracle Financial Modules?

One of the most important ERP modules to have is an ERP financial module. While every business may operate differently, financial data affects all departments of an organization. The financial module in the Oracle ERP system gives financial capability to empower modern finance, expense management, accounting engines, revenue management, and more. The three offerings in this Oracle module consist of the accounting hub cloud, financials cloud - consisting of expenses and budgetary control - and the Oracle Revenue Management Cloud.

A great financial management module consists of an excess of features meant to manage all of your finances in your Oracle ERP System. The objective of this module is to streamline accounting and general ledgers, automate expense processing, and report on new KPIs with cloud features like accounts receivables, accounts payable, and other related financial features essential to any business.
 
Oracle Financial Modules

Top 5 Essential Oracle Financial Modules You Need

GENERAL LEDGER

A general ledger account is an account or record used to sort, store and summarize a company's transactions. These accounts are arranged in the general ledger (and in the chart of accounts) with the balance sheet accounts appearing first followed by the income statement accounts. with the new features of R12, complexity can be simplified by using Secondary Ledgers to minimize the number of transactions that are necessary to be entered as reporting can be simplified.

ACCOUNTS PAYABLE

With AP, the ability to integrate Invoice Entry and Payments is easier today. Invoices can be entered through ADI uploads, through the standard API with programming, or interfaced with Purchasing by being Matched to a Purchasing Line Item. By performing this streamlining Accounts payable services, it reduces manual keying while eliminating the errors that occur from entering data. We also install and integrate iExpense to minimize rekeying of Expense Reports. With Oracle’s Workflow, a completely online approval matrix with the ability to see both the data entered and the receipts are available.

ACCOUNTS RECEIVABLE

With AR, we integrate Lockbox transactions as well as third party logistic companies transactions.

CASH MANAGEMENT

With Cash Management, we typically integrate it to all your Banks, so that all transactions from your bank are interfaced to Oracle. This can include Lockbox entries, Wires, ACH’s, Swift, cleared checks, and bank fees. By integrating this information from multiple bank accounts with multiple currencies, it is possible to have a daily cash balance available if needed.

FIXED ASSETS

With Fixed Assets, we help with ADI uploads as well as integrate it to AP for newly invoiced assets that need to be moved to FA. By installing the Federal and State Tax Books, an organization can save thousands of dollars annually by producing all the data needed for their Tax Returns Preparation with very little setup and maintenance.

How can you benefit from the features of Oracle ERP:

  • Improved performance and productivity
  • Real-time dashboards and reports
  • No mistakes in calculations
  • Advanced financial forecasting
  • Advanced control over operations

If you are looking Accounting for small businesses? That can do prepare your yearly taxes. Our Certified Accountants have been helping small businesses for their online accounting such as manage Bookkeeping Services, Accounts Payable, Accounts Receivable, BAS & Financial Statements, Payroll, and Tax Return Preparation, Inventory & Cash Flow Management, etc.

If you are looking for Online Accounting Firms, Contact us here for a free quote.

Location: Houston, TX, USA

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