{"id":7555,"date":"2021-08-05T14:27:16","date_gmt":"2021-08-05T14:27:16","guid":{"rendered":"https:\/\/www.gologica.com\/elearning\/?p=7555"},"modified":"2025-04-07T10:32:23","modified_gmt":"2025-04-07T10:32:23","slug":"cross-currency-payments-and-procurement-offerings-in-oracle-fusion","status":"publish","type":"post","link":"https:\/\/www.gologica.com\/elearning\/cross-currency-payments-and-procurement-offerings-in-oracle-fusion\/","title":{"rendered":"Cross Currency Payments and Procurement offerings in Oracle Fusion"},"content":{"rendered":"

Objective:<\/strong><\/p>\n

In this article, we are going to discuss the Cross-Currency payment enhancements in the Oracle Fusion<\/strong><\/a> Payables.<\/p>\n

Cross-currency payment: <\/strong>It is referred to as a payment used to pay invoices in any of the currencies, irrespective of the invoice currency. Here’s an example: we can make a payment for invoices in Canadian Dollars. In this globalized world, the transactions of business environment customers go across many countries. Also, several customers are looking for opportunities for a business across many countries in the world. To operate globally, they are required to streamline their look for opportunities to improve operational efficiencies for the customers.<\/p>\n

Cross-currency payments are payments made in a currency which, different from the invoice currency, is one of the most common payment scenarios for users\/customers going to many business worlds. Especially for customers in Asia, Europe, and Latin America, cross-currency is a common practice. Cross-currency payments address all these challenges faced by the users\/customers and help them very effectively manage broad transactions.<\/p>\n

Enhancements Overview of Cross-Currency Payments:<\/strong><\/p>\n

Selecting invoices with the invoice currency, which is different from the currency payment, creates cross-currency payments.<\/p>\n

Cross-currency payments help in creating invoices with various kinds of invoice currency.<\/p>\n

In invoice, currency relieves liability, and in payment currency credit cash.<\/p>\n

At present, invoices can be done with the payment currency which is different from the invoice currency. The field of payment currency has been added to the pages of invoices to support this enhancement; this field is also shown in the page mode of “Show Mode.” At the same time, the invoice, once the supplier invoices are created with a payment current that is different from the invoice currency. Payment Currency has been added to the pages of invoices to support this enhancement; this field can be shown on the creation of the invoice page.<\/p>\n

The feature of cross-currency payment is supported for the invoice prepayment type. A prepayment invoice type can be created as a cross-currency invoice; that is, the invoice currency is far different from the payment currency. The application of the prepayment feature is enhanced to support the transactions of cross-currency. The user\/customer can apply the prepayment to an invoice offered; the currency of the invoice and prepayment invoice currency are the same.<\/p>\n

Let’s now move into Oracle Fusion Procurement Offerings.<\/p>\n

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\"ORACLE<\/a><\/figure>\n<\/div>\n

Oracle Fusion Procurement Offerings:<\/strong><\/p>\n

Given below are the modules that are included in Oracle Fusion Procurement:<\/p>\n

Sourcing: In this type of module, RFQ is designed, and that can be sent to the suppliers to have their presence.<\/p>\n

Self-Service Procurement: This module is very similar to e-commerce sites like Yep Me, Flipkart, Amazon, etc., where the user can create requisitions by choosing the catalog’s products. The user\/customer can compare the products by the side and can shop for the product selected.<\/p>\n

Purchasing: In this module, basic procurement, like creating the purchase order, is handled.<\/p>\n

Procurement Contracts: Based on certain conditions, we can establish the contracts. It can also approve the process.<\/p>\n

Supplier Portal: This module is very much similar to the i-supplier portal in R-12.<\/p>\n<\/p>\n

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Learn more information from GoLogica “Oracle Fusion Project Portfolio Management (PPM) Training<\/a>“<\/em><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n

Key features of Oracle Fusion Procurement:<\/strong><\/p>\n

Given below are the features of Oracle Fusion Procurement:<\/p>\n