Cloud EPM Planning Financials Series - Key Features
Financial module within Oracle Planning and Budgeting Cloud (PBCS), is one of the most important modules from the planning and budgeting perspective as it enables you to use pre-defined dimension structure, data forms, dashboards and calculation rules to generate out-of-the-box Balance sheet, Income Statement and Cash Flow. In addition, it also allows for out-of-the-box Revenue and Expense analysis based on account drivers selected.
This post is covers five topics:
- Creating PBCS application
- Enabling Financial features
- Include company’s COA into Financials Account dimension
- Loading Data into Financials cube
- PBCS Financials Rule
#1 PBCS application creation on Oracle EPM Standard Service
Select Planning to create a PBCS application.
Select Start create new application. Note that Migrate option is provided in case you want to create a new application from a previous backup.
Enter a name and description for the application.
Enter application details like start and end year(you can add more years at later stage but cannot modify the start year of an application) main currency and enable Multicurrency if needed (This needs to be enabled during application creation if currency translations are required). Enabling this creates default currency dimension and Rates members under Account dimension.
Review your application features and select Create.
Click OK to view the application or Configure to start enabling PBCS modules.
Before I enable Financials modules, let’s have a look at what our application currently looks like – Application Homepage –
- 0 Tasks, 1 Data entry form, 0 Rules and 0 Approval units.
- Two database cubes created, Plan1(BSO) for data entry and Demo (ASO) as the Reporting cube. These were as named during application creation process.
- Plan1 dimensions -
- Demo dimensions -
Data Forms – Only Exchange rate form is generated. This form is generated as we enabled Multicurrency for our application.
Rules page – No rules are generated by default.
Similarly, there is nothing created on Dashboard, Infolets, Reports etc.
Let’s have a look at Account dimension members created.
Exchange rate members are the only members created. These members were created cause Multicurrency option was enabled.
As you can see in Create and Manage rules page, no rules are created -
Now, we will move to enabling Financials features.
Go to Application > Configure
Select Financials from the drop down and select Enable.
I will enable all features and I am choosing not to enable Accounts and Drivers. This is so that I can use my company’s COA, once a basic Dimension structure is created.
Each of these features, when enabled creates a rollup under Account dimension.
I am choosing to enable CashFlow with Indirect method and categorizing as Operating, Investing and Financing activities.
I am not enabling Rolling Forecast and weekly planning.
Enabling Custom dimensions: Plan Element is default dimension created once you enable any module within PBCS. Additionally, you can enable Product, Services and 3 more Custom dimensions.
You must enable all the Custom dimensions that you need in your Financial modules when you are first enable the Financials features. Adding Custom dimension later is not permitted.
Here you also have the flexibility to Rename custom dimension names and select specific custom dimensions for specific features within Financials module. For example, Product dimension may be relevant only for Revenue planning so it can be enabled only for that.
To Rename dimension and to enable features click on the attachment link highlighted below.
Once you click on that you will see a window like below, I will enable Product dimension for Revenue sub-module.
I will also rename Custom 1,Custom 2 and Custom 3 dimension names to remove space in the name. Below I have renamed Custom 1 to Custom1 and enabled it for Revenue, Expense, Balance Sheet and Cash Flow.
Renaming of Custom dimensions must be done when the Financials feature is first enabled.
Sub-modules like Revenue, Expense, Balance Sheet and Cash Flow can be enabled incrementally later.
Once Custom dimensions are mapped/renamed, click enable to Enable selected features under Financials module –
The error message in below screenshot reminds me to enable at least one feature for custom dimension Services.
I am now enabling Services for Balance Sheet and Cash Flow -
Once done select Enable -
Log off and log back in and you can see the Financial module on the Homepage.
Review Financial Module features
All the Financial sub-modules enable are displayed under Financials tile.
Similarly, you can see dashboards and data forms created for Financials module.
Under Rules tile you can see out-of-box rules generated for Financial module.
Details for each rule can be viewed by opening Calculation Manager. You can also create custom rules in Calculation manager. To open Calculation manager go to Navigator > Create and Manage > Rules.
This opens Calculation manager in a new pop-up window so pop-ups must be unblocked to open this.
All the rules created for Financials module are displayed under OEP_FS plan type. You can open each rule in designer or script mode.
You can edit the script if you would like but these changes are ignored during application.
Financials out-of-box chart of accounts –
In continuation to this post, we will look at topic #2 default account members created for each sub-module and adding new COA members.