Oracle have started to release what’s coming in release 24B. Whilst there will be more features released over March, I wanted to highlight a few key new features that have already been announced within the Payroll space.
In Release 23D Oracle released the Redwood Personal Payment Methods page. In 24B, this, as well as the Redwood Payroll Relationships page are being delivered switched on automatically. This means that any organisation who haven’t already moved these pages over to Redwood will need to do thorough testing prior to 24B to ensure they meet their needs. Alternatively, it will need to be manually switched off- via the appropriate profile options.
Keeping on with the Redwood theme, the earnings and deductions amount on the payslip summary page has now been moved to the Redwood toolset. These can be displayed based on the element primary classification. In the example screenshot above, they are displayed under the headings pre-tax, tax and after tax.
The new ‘Upgrade Cost Results’ feature in the ‘Run Feature Upgrade’ payroll flow allows users to upgrade the prior period payroll cost results. These can be updated for assignment, tax reporting unit, and the calculation breakdown values from the payroll run results. This will make adjustments to prior period results much easier.
So far there aren’t any UK legislation specific Payroll updates announced in 24B. All of the 2024/25 tax year statutory changes are included in the CWB prior to tax year end. I wouldn’t be surprised if there aren’t some extra UK specific features announced later in March though.
Also keep an eye out for blogs on other modules within HCM Cloud for Release 24B. Please check out my post on the key features so far in Core HR:
About the author:
Kate Mead is an Oracle-certified HCM Consultant and Solution Architect at Version 1 with 14 years of experience in Oracle HR and Payroll systems, including 7 years with Oracle HCM Cloud. She has worked across implementation projects and managed services, has a sound knowledge of UK Payroll legislation and — before becoming a consultant — was an HR Manager.
If you have any questions or would like more information on how Version 1 can help you realise the full potential of your Oracle Cloud instances, please contact her at kate.mead@version1.com
Please note all screenshots are the property of Oracle and are used according to their Copyright Guidelines
