Oracle Fusion Cloud Asset and Lease Management 25A – What’s New?

The latest release, Oracle Fusion Cloud Asset and Lease Management 25A, brings several new features and enhancements. Here are some highlights:

• Enhanced Asset Management: Improved functionalities for asset acquisition, maintenance, and lease management.

• Touchless Expenses: Streamlined processes for handling expenses.

• Improved Cash and Receipt Processing: Enhanced capabilities for managing cash and receipts.

• Local Compliance and Reporting: Updates to ensure compliance with local regulations and improve reporting.

• Integration with OCI Identity and Access Management: Better user access experience through integration with OCI Identity and Access Management

Here are some more details about the Oracle Fusion Cloud Asset and Lease Management 25A release:

• Lease Liability for Foreign Currency Migrated Leases: Users can now account for lease liability using the current foreign currency conversion rate when migrating foreign currency-denominated leases. This ensures compliance with lease accounting standards and improves operational efficiency.

• Lease Migration with Gross Right-of-Use Asset and Accumulated Amortization: This feature allows for streamlined accounting when migrating existing portfolios, enhancing compliance and operational efficiency.

• Expense Receipt Capture and Matching: Users of Cloud ERP Touchless Expenses with J.P. Morgan Corporate Cards can now automatically extract expense attributes from receipts in multiple languages using the Document IO Agent. This increases accuracy and minimizes manual inputs.

• Redwood User Experience: The Redwood user experience offers enhanced accessibility, productivity, and ease of use in performing daily tasks. It enables individual documents for B2B messaging rather than business processes as in prior releases.

• Payables US 1099 Electronic and Forms Reporting Changes: Users can now generate electronic files for Forms 1099-MISC, 1099-NEC, and 1096 according to the specifications for tax year 2024 published by the U.S. Internal Revenue Service.

EnchantApps Oracle Cloud experts can help you with your 25A Upgrade and testing. We are here to ensure that Oracle Cloud quarterly updates do not impact your business processes. Contact us for more details.