Starting from August 2021, we are able to process “Dense Sparse Optimization” (DSO), which is basically changing the dense dimension from Account to Period and Movement. Initially, the account was the only dense dimension in a Financial Consolidation and Close application. You may run into certain performance challenges, including taking a long time to…
Journals Overview During a financial consolidation and close period, when data was submitted to the system, additional adjustments might need to be entered. This is where the Journal Entry comes into the picture. We can also assign workflow and security for journals. This post will be mainly focusing on using Data Management and Excel…
On October 27th, FCCS November 2017 Update got released. One of the awesome updates is we can do configurable calculations. Oracle mentioned that: You can add your own custom calculations to the seeded default calculations for your applications. The system provides insertion points within the default consolidation process where you can include your…
Let’s create a new FCCS application. Type in the application name and Description Select Details. In this case, I selected 12 months, and enabled the Multicurrency function. Configuration of FCCS is based on enabling features. There will initially be two custom dimensions you can add. By default, the Consolidation is Enabled, and the Supplemental…
Oracle released Financial Close and Consolidation Cloud Service FCCS in May, 2016. On-premises Hyperion, we have Hyperion Financial Management (HFM), which provides financial consolidation and reporting that enables us to rapidly consolidate and report financial results, meet global regulatory requirements. At the beginning, I though FCCS is the cloud version of HFM, but not…