Oracle Financial Accounting Hub (FAH)
FAH has been the buzzword for a long time now, especially in the financial industry. It is a tool designed for non-Oracle Subledgers (third party), helping them leverage Oracle’s Subledger Accounting engine, and ultimately transferring their Journals to Oracle General Ledger. The Financials Accounting Hub uses accounting events that have a financial impact to generate journals. The tool enables businesses to determine how the events should be accounted, adapting to the existing framework. Here are some of the key features of FAH:
Accounting Engine
Be it for Oracle or non-Oracle, FAH acts as the accounting engine for any subledger — ultimately creating multiple adjusting journal entries, providing drill back from General Ledger (GL) to FAH, validating and transforming source data. Also, fully leveraging the GL setups (open or close period, COA structure, segment values, cross validation rules, calendar, functional currency, etc.) to ultimately provide the users with an efficient and compliant financial system.
Centralized & Audible Accounting System
The Oracle Financial Accounting Hub (FAH) helps in creating a centralized, auditable accounting system for external and/or legacy systems. FAH has a configurable rules engine and user-defined repository to record definition and maintain accounting rules in one place.
Complete Data Analysis
What is the average time you spend on collecting and analyzing the data? The time taken to instantly perform multidimensional analysis on your business’s operational data? Do you have an immediate access to your complete financial picture? These are some common questions that could bombard you quite often, but you can now keep all such worries aside gaining access to complete data analysis by FAH.
Fusion Financial Reporting Center
This is a single point of access to securely distribute live and pre-published financial reports for self-service access. Users can now access any report that they are authorized to view with the tool’s ability to perform multi-dimensional analysis and drill down from any of the live reports.
How It Works?
Oracle standard FAH provides linkage from GL to SLA Journals i.e., offering a standard drilldown that works from GL to SLA. The GL to SLA journal lines provides additional sub-ledger details like Event Model, Supporting References, Identifiers and Descriptions.
These collected details are much useful, especially when businesses want to reconcile the transactions/records between GL and SLA. A custom solution can be build that provides additional drilldown layer in FAH beyond SLA Journal and a custom form presenting the view of Transaction Object/Staging Table in FAH (the transaction data here is placed for FAH accounting entry generation.)
Features Of Fusion Financial Reporting Center:
· General Accounting Dashboard
· Account Monitor
· Account Inspector
· Oracle Hyperion Financial Reporting (FR) Studio
· Oracle Hyperion Smart View
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