Data conversion in Oracle Fusion Financials refers to the process of migrating and transforming data from legacy systems or other sources into Oracle Fusion Financials applications. This process is crucial when an organization transitions from its existing financial systems to Oracle Fusion Financials, which is a cloud-based, integrated suite of financial management applications.

Data conversion involves several key steps:

1. Data Extraction: Extract data from the source systems, which could include general ledger data, chart of accounts, transactional data (such as invoices, payments, purchase orders), vendor and customer data, etc.

2. Data Transformation: Transform the extracted data to meet the data requirements and standards of Oracle Fusion Financials. This may involve data mapping, data cleansing (fixing errors and inconsistencies), data enrichment (adding missing information), and data validation.

3. Data Loading: Load the transformed data into Oracle Fusion Financials using predefined templates, spreadsheets, or integration tools provided by Oracle. The data should be loaded into appropriate modules, such as General Ledger, Accounts Payable, Accounts Receivable, etc.

4. Data Reconciliation: After data loading, perform reconciliation to ensure that the data in Oracle Fusion Financials matches the original source data and balances. This step helps identify any discrepancies or issues that need to be addressed before going live.

5. Testing: Thoroughly test the migrated data in a controlled environment. Test various scenarios to ensure that the data conversion process has been successful and that the data is accurate and complete.

6. Data Validation and Verification: Validate the converted data with key stakeholders to ensure that it accurately represents the organization’s financial history and current state.

7. Data Cutover: Plan and execute the final data migration from the legacy systems to Oracle Fusion Financials. This involves a cutoff point where users stop entering data into the old systems and start using the new Oracle Fusion Financials environment.

8. Post-Migration Activities: After the cutover, perform additional validation and verification to ensure that all data is accurately migrated. Address any post-migration issues or discrepancies that arise.