Unlocking Financial Insights: A Guide to Oracle Fusion Financials Standard Reports

Oracle Fusion Financials is a robust cloud-based suite of tools that helps businesses streamline their financial processes and gain better visibility into their financial health. Key to this visibility is the extensive library of standard reports within Fusion Financials, designed to deliver essential financial information. In this blog, we’ll explore the value of these reports and how to leverage them effectively.

What are Oracle Fusion Financials Standard Reports?

Standard reports in Fusion Financials are pre-built, ready-to-use reports that provide insights across various financial modules, including:

• General Ledger (GL): Trial balances, balance sheets, income statements, etc.
• Accounts Payable (AP): Payment analyses, vendor aging, invoice holds, etc.
• Accounts Receivable (AR): Customer aging, outstanding balances, transaction details, etc.
• Fixed Assets (FA): Asset depreciation schedules, asset listings, etc.
• Cash Management (CM): Bank account balances, reconciliations, etc.

Benefits of Using Standard Reports

1. Time-Saving: Standard reports provide ready-made information, eliminating the need to build custom reports from scratch saving you valuable time and effort.
2. Accuracy: Built on Oracle’s robust data model, standard reports ensure data consistency and precision, reducing the risk of errors.
3. Easy Access: Standard reports can be accessed directly from your Fusion Financials dashboard, giving you quick access to crucial data.
4. Customizable: While providing a solid foundation, standard reports offer flexibility. You can filter data, modify layouts, and add calculated fields as needed.
5. Insightful Analytics: Standard reports often include visualizations such as charts and graphs, facilitating faster comprehension of key financial metrics.

Types of Standard Reports

• Operational Reports detail day-to-day transactions (e.g., invoice register, payment listing).
• Management Reports: Focus on summary-level data for decision-making (e.g., income statement, balance sheet).
• Analytical Reports: Aid in-depth analysis using trends and comparisons (e.g., budget vs. actuals).
• Regulatory Reports: Designed for compliance and audit purposes (e.g., tax reports).

How to Access and Use Standard Reports

1. Navigation: Access reports from the ‘Navigator’ in your Fusion Financials instance. Search for standard reports using keywords or explore by functional area.
2. Parameters: Before running reports, specify filters like period, account ranges, or currency.
3. Output Formats: Choose output formats (PDF, Excel, HTML, etc.) suitable for your needs.
4. Scheduling: Set up recurring schedules for standard reports to be automatically delivered to relevant stakeholders.

Best Practices

• Know your Requirements: Clearly define your information and analysis objectives before using standard reports.
• Explore Thoroughly: Experiment with standard reports to discover what best aligns with your needs.
• Customize When Needed: Don’t hesitate to tailor standard reports if they don’t perfectly fit your requirements.
• Leverage Additional Tools: Combine standard reports with Oracle Transactional Business Intelligence (OTBI) or other analytical tools for deeper analysis.

In Conclusion

Oracle Fusion Financials’ standard reports provide a treasure trove of financial information. Mastering these reports will empower you to track financial performance, support decision-making, and maintain financial compliance.