Having served many years in the world of finance, I have come across a multitude of questions when it comes to Oracle EBS and its functionality. Some answers come easier than others and there really is no stupid question when it comes to this kind of stuff. One question I continue to hear lately has to do with Oracle’s Summary Accounts and how they play fair with Hubble. So to answer that question, I decided to lay it all out right here for you.
Before I get to how Hubble handles this feature, let’s review how summary accounts work within Oracle E-Business Suite. The summary account functionality in Oracle allows users to roll up detailed GL balances into summary ones using Summary Account Templates. The functionality updates the values in the Balance table for each summary account and for the detailed account when a transaction is posted.
The following template example would provide a summary account for the Liabilities per Company whilst the other segments would be consolidated.
Now that you can visualize what I'm talking about, let’s get to the pros and cons of Oracle’s way of doing things.
- Allows for summarized segment reporting which reduces the number of accounts needing to be interrogated. This can be useful for reporting on control accounts across companies or departments without having to drill into each account
- Faster reporting time since the balance is saved for each summary combination and less time needed on the database since calculating the aggregated values is not necessary
- You need to think ahead to define the summary accounts, and this can be restrictive to a dynamic organization
- Posting of journals can take longer as multiple combinations are being maintained
- Often the ability to add new Summary Accounts will belong to IT making it a lengthy process to add new accounts
So, there are definitely some concerns to take into account with the summary account route. When reviewing your reporting options an advantage would be to have a tool that is able to report on Summary Accounts but also allow you to create ad-hoc reporting where you can aggregate data on the fly without IT intervention.
Let’s look at an example. I ran a report showing a summary account by adding the Summary Account filter = Y. You will notice the Department and Sub-Account both have a T, that’s because we are making use of the Oracle EBS Summary Account feature.
Most people once they see a demo of Hubble realize that Summary Accounts are no longer required. A much more flexible solution is to automatically aggregate the values when a column is removed. By removing the Department, Account & Sub-Account columns with Summary N we get the same result. The benefit of Hubble is we don’t need any additional IT configuration.
So going back to the original question: does Hubble support summarised accounts? The answer is Yes, but why restrict yourself when you can get the data your way? To see a live demo of Hubble, contact us today!