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Slide 3 - Oracle Financials Cloud

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Hello, my name is Hajni. Welcome to the training for the new Oracle U. S. Federal Financials product. In this session, I’ll introduce you to this exciting new product and its capabilities.

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Slide 4 - Agenda

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First I’ll give you an overview of U. S. Federal Financials, followed by more details to explain how you can use it, and how it benefits your agency.

Then I’ll walk you through a demonstration.

Finally, I’ll explain what you need to consider before enabling these capabilities for your agency, and what you need to know to set them up including a demo of the setup.

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Slide 5 - Introducing U.S. Federal Financials

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Oracle U.S. Federal Financials is an integrated financial management solution for Federal agencies.

It is a configurable and flexible solution that enables U.S. Federal agencies to meet Federal financial management system requirements. It supplements Oracle Financials and Oracle Procurement functionality by providing U.S. Federal specific capabilities.

The features that I’m going to talk about today are available in release 21A.

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Slide 6 - U.S. Federal Financials

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Federal Accounting provides predefined accounting rules for creating budgetary accounting that complies with Federal accounting requirements of U.S. Standard General Ledgers or USSGL.

A predefined accounting method is provided to supply these Federal accounting rules. 

There are also predefined mapping codes available for defining mapping sets for Federal Financials. A natural account code must be chosen for each mapping code based on its description. These natural account codes are used by the Subledger Accounting rules.

U.S. Federal Financials Payment Processing features help in meeting U.S. Federal Prompt Payment requirements and creating U.S. Federal Payment File Formats.

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Slide 7 - U.S. Federal Accounting

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U. S. Federal Accounting is a collection of accounting features that include predefined sets of accounting rules for all event types of requisitions, purchase orders, invoices – including debit memos, credit memos, prepayments, and prepayment applications – and all manual and batch payments.

Here’s an example with the additional budgetary accounting lines created for an invoice.

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Slide 8 - U.S. Federal Prompt Payment

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The U. S. Federal Prompt Payment feature has three main components:

The Prompt Payment Date Calculation Process is something that you can schedule and submit yourself as often as you require. It updates the due date and the discount date on unpaid invoices in accordance with the prompt payment rules. These dates are only updated on invoices that have a prompt payment enabled payment term assigned.

You would typically run this process before creating payments to ensure that the most up-to-date due dates and discount dates are taken into account. Optionally, you can also generate a report for this process that will help you troubleshoot. I have included a section of the report that highlights the updated Prompt Payment Date for this invoice.

The Discount Calculation process is automatically invoked for invoices selected by the payment process request, that are eligible for discounts and have prompt payment-enabled payment terms.  The process only takes economically beneficial discounts based on Prompt Payment rules.

The final component of the Prompt Payment feature is the Interest Calculation Process. This one, just like the Discount Calculation Process, is automatically called for invoices that are paid late by a payment process request and have prompt payment-enabled payment terms.  The process creates interest invoices with interest amounts as per the Prompt Payment interest calculation rules. 

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Slide 9 - U.S. Federal Payment File Formats

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Federal Payment File Formats feature lets you to create Secure Payment System or SPS files and Payment Automation Manager or PAM files.

For SPS, there are three supported payment formats:

US Federal SPS ACH or electronic files,

US Federal SPS Check that lets you to make check payments and

US Federal SPS Same Day Payments that creates wire payments.

For PAM, there are two supported formats:

US Federal PAM ACH or electronic files and

US Federal PAM Check that generates a file that the Treasury uses to issue checks for your suppliers.

I have included a section from a PAM electronic payment file as an example.

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Slide 10 - U.S. Federal Financials

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The most important benefit out of the features we covered today is the capability to comply with U.S. Standard General Ledger requirements.

U. S. Federal Accounting also allows for the predefined rules to be customized to meet specific agency needs while accounting is automatically created in the background without any user interaction.

The U. S. Federal Prompt Payment feature meets regulations set by the U.S. Federal Prompt Payment Act. It ensures that the due dates are kept aligned with Prompt Payment rules, and discounts and interest are calculated correctly.

U. S. Federal Payment File Formats enables users to generate Treasury payment files that comply with SPS and PAM payment file specifications.

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Slide 59 - Summary of Capabilities

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Here is the summary of the features I have talked about today, including Federal Accounting for requisitions, purchase orders, invoices, and payments.

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Slide 60 - Summary of Capabilities

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We also covered the capabilities for U. S. Federal Prompt Payment and U. S. Federal Payment File Formats.

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Slide 61 - Additional Information

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There is a limitation in the current release that the functionality included is not yet sufficient for your agency to meet all mandatory federal requirements.

The initial release of U.S. Federal Financials includes only the features that are described in this training. Additional functionality to fully meet mandatory Federal financial management requirements will be provided in upcoming releases.

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Slide 62 - Functional Architecture

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U. S. Federal Accounting is processed for transactions from two sources

Requisitions and purchase orders are created in Procurement while

Invoices and payments are initiated in Financials.

Core and budgetary accounting is created at the same time for all transactions covered.

Federal Payment Processing is also based on invoices and payments processed in financials with the prompt payment functionality updating the due and discount dates followed by the creation of payment files that are sent to the Department of Treasury to make the actual payments.

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Slide 63 - Technical Architecture

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All our setup data can be created using REST APIs as well as using the standard UI.

We also have two reports included in this release, both of which enhance the Federal Payment Processing functionality.

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Slide 64 - Implementation Advice

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In this section, I’ll go through what you need to consider before implementing Federal Financials and enabling these features for your agency, and what you need to know to set them up.

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Slide 65 - Feature Impact Guidelines

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This table depicts key update information for the features covered in this training.

All the features we mentioned earlier in this training require some setup steps to be performed before they are ready to be used.

We don’t ship any job roles as part of U. S. Federal Financials in this release, more on that a bit later on.

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Slide 66 - Summary of Actions Needed to Use U. S. Federal Financials

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U. S. Federal Financials have one Opt-In option and after enabling this you are ready to use all the functionality included with this product.

The setup steps included on this slide are not directly required for the functionality included in release 21A, but you will need them when more features, that are mandatory for federal agencies to use, are added later on.

This setup includes

creating new users who can access the federal financials functionality with the necessary job and duty roles added,

adding federal-specific segment labels to your accounting flexfield

creating an accounting calendar that has at least two adjustment periods at the end of the year

defining specific invoice options for the business units used.

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Slide 67 - Summary of Actions Needed to Use U. S. Federal Financials

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This slide lists the setup tasks you have to complete in the U.S. Federal Financials functional area.

These are required for the Federal Accounting functionality to work correctly, but also will be used by other features that will be included in later releases.

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Slide 68 - Summary of Actions Needed to Use Federal Accounting

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For Federal Accounting, you also have to define the General Ledger accounts used by Subledger Accounting. This has to be preformed in both the Fusion Accounting Hub and Procurement.

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Slide 69 - Summary of Actions Needed to Use Prompt Payment

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For the prompt payment functionality, you have to create a transaction calendar that has all your public holidays marked as nonworking days, and then create a lookup that references this new calendar.

You also have to enter the interest rate and add some additional attributes to the payment terms you’re going to use for prompt payment. Both of these tasks are found under the Payables offering.

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Slide 70 - Summary of Actions Needed to Use Payment File Formats

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To enable the Federal Payment File Formats, you need to

Use the Manage Payables Lookups to add the pay groups you want to use

Map the SPS and PAM payment formats and the predefined payment types to these pay groups on the Manage Payment Type Mappings page.

You also have to define the agency location code for the internal bank account you’re going to use to make your payments.

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Slide 71 - Enablement Detail for Federal Options

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Let’s drill down on the enablement tasks that are unique to Federal Financials.

On the Federal Options page you define and maintain the business unit attributes for each business unit of your agency.

These attributes enable support for Federal processes including Prompt Payment, and Federal Payment Formats.

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Slide 72 - Enablement Detail for Federal Account Symbols

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Federal account symbol or FAS is used to identify agencies that handle the appropriation and fund classification without regard to the period of availability to incur new obligations.

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Slide 73 - Enablement Detail for Treasury Account Symbols

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The Treasury Account Symbol or TAS is assigned by the Treasury, in collaboration with the Office of Management and Budget also known as OMB.

On the Manage Treasury Account Symbols page you can define identification codes for individual appropriations, receipts, and other fund accounts of an agency.

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Slide 74 - Enablement Detail for Fund Attributes

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Use the Manage Fund Attributes task to define fund attributes used by a Federal agency for Treasury reporting and legal compliance.

The Federal Government obtains monies from many sources. The appropriations process governs the how these monies are used. Agencies segregate their treasury account symbols into funds to assure compliance with legal requirements. So one treasury account symbol can have more than one fund associated with it.

Fund attributes include elements required for Treasury reporting.

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Slide 75 - Enablement Detail for Agency Location Codes

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The Manage Agency Location Codes page lets you to define Treasury-assigned codes that identify the accounting and reporting offices of your agency.

These offices report details of collections and disbursements to the Treasury.

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Slide 76 - Enablement Details for Payment Type Mapping

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Map pay groups to payments types on the Manage Payment Type Mapping page. You must also associate the pay group with valid payment formats that can be check-based or electronic.

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Slide 286 - Job Roles

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In release 21A, we don’t have any job roles that are exclusive to Federal Financials.

Our Federal Administration Duty role is assigned to the existing Financial Applications Administrator job role ready to be used.

The Manage Prompt Payment Duty role and the Federal Payables Management Duty role are not assigned to any existing job role and need to be added before they can be used.

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Slide 287 - Business Process Information

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The business processes associated with the new capabilities covered in this training are detailed here.

For Federal Accounting, the high level business processes are Manage Requisitions, Manage Purchase Orders, and Manage Invoices.

The Manage Payments business process includes the Record Accounting for Payments activity and the Prepare and Record Payments activity, which covers the Submit Prompt Payment Date Calculation Process task, and the Process Payment Process Requests task.

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Slide 288 - Related Reports

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There are two reports included with the features in this training and they are:

The Prompt Payment Date Calculation Report that can help you resolve any issues related to the Prompt Payment Date Calculation Process and

The Payment Instruction Treasury Account Symbol Listing report.

This concludes this presentation. Thank you for listening. You can easily pause and rewind any of these slides if you require additional time to take in the detail.

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