Oracle Fusion Financials Setup Steps



  1. Define Enterprise Structure:
    • Define the legal entities, business units, and other organizational units in your company’s structure.
  1. Define Chart of Accounts:
    • Set up your chart of accounts, including accounting segments and values, to categorize financial transactions.
  1. Define Currencies and Conversion Rates:
    • Configure base and foreign currencies for transactions and set up conversion rates for currency exchange.
  1. Define Ledger:
    • Define ledgers for different accounting requirements, such as primary ledger, reporting ledger, and secondary ledgers.
  1. Define Accounting Calendar:
    • Set up your fiscal year, accounting periods, and accounting calendar to manage financial reporting and close processes.
  1. Define Subledger Accounting:
    • Configure sub-ledger accounting rules to define how accounting transactions are generated from subledgers.
  1. Configure Payables and Receivables:
    • Set up payment terms, payment methods, invoice sources, and other relevant configurations for payables and receivables.
  1. Set Up Assets:
    • Configure asset categories, depreciation methods, and other asset-related parameters for asset management.
  1. Configure General Ledger:
    • Define journal sources, categories, and entries set up to manage general ledger transactions.
  1. Define Budgets:
    • Set up budgetary controls, define budget organizations, and configure budgetary control options.
  1. Define Tax Configuration:
    • Configure tax codes, rates, jurisdictions, and rules based on your organization’s tax requirements.
  1. Configure Cash Management:
    • Set up bank accounts, reconciliations, cash forecasts, and other cash management parameters.
  1. Define Intercompany Transactions:
    • Configure intercompany accounting rules and transactions if your organization has multiple legal entities.
  1. Configure Financial Reporting:
    • Define financial reporting structures, such as financial statement hierarchies and segment hierarchies.
  1. Define Security and Access Controls:
    • Set up user roles, permissions, and access controls to ensure data security and segregation of duties.
  1. Test and Validate:
    • Perform thorough testing of your setup and configurations to ensure the accuracy and integrity of financial data.
  1. Training and User Adoption:
    • Provide training to end-users on how to use Oracle Fusion Financials effectively.
  1. Go Live and Ongoing Maintenance:
    • Transition to Oracle Fusion Financials for day-to-day financial operations and perform ongoing maintenance and support.

Demo Day 1 Video:

You can find more information about Oracle Fusion Cloud application in this Oracle Docs Link



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