Oracle’s release of JD Edwards EnterpriseOne 9.2 includes two new features that can greatly empower your business: Revenue Recognition and Outbound Inventory Management.
See these significant additions in action with detailed demos that will inspire you to apply these enhancements to your organization.
Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued a new joint standard on revenue recognition. This new standard, when implemented, will replace the accounting standards for revenue recognition that currently exist under U.S. GAAP and IFRS. As part of the JD Edwards 9.2 release new functionally and features have been provided to support these new standards.
We’ll review new features in Accounts Receivable for Revenue Recognition outside of invoicing:
- Place selected invoices into a Revenue Recognition process
- Performance Liability Accounting for invoices going into the process
- Recognition of revenue and cost of goods sold after the performance obligation is satisfied
- Performance Liability Accounting for invoices during recognition
- Additional reporting related to revenue recognition
In addition we will also discuss flexibility in the Contract and Service Billing Module that provides for:
- Summarize Lump Sum and Unit Price billing line transactions by subledger/subledger type
- Adjust Stored Material invoice amounts by subledger/subledger type
Outbound Inventory Management
Outbound Inventory Management (OIM) enables sell-side Vendor Managed Inventory (VMI) and consigned inventory, which allows suppliers to improve forecast accuracy, reduce stock-outs, and strengthen customer collaboration for a more streamlined order-to-cash process.
We will review and demonstrate:
- Functionality that supports business processes for managing goods located at a customer’s location as part of the order-to-cash process
- Features including shipping goods, monitoring usage, replenishing goods, and billing goods based on the agreement with the customer which dictates ownership