Every year, we’re faced with statutory requirements to send Year End Reports to the authorities. If we fail to file reports on time or report inaccurate information, we could face unnecessary penalties.
On top of that, these statutory requirements may change from year to year;
In the UK there are several changes in Payroll legislation and updates which impact on Tax Year End 2015/16 and beginning of Tax Year 2016/2017. These include:
• Legislative Changes from April 2016
• RTI Processes and updates
• End of year processing requirements
• Processing Start of year
Full details can be found in this Transfer of Information document
Fortunately, Oracle has just released its statutory year end patches to help EBS Payroll customers meet these requirements.
Here are some examples from the Consolidated HRMS Mandatory Patch List (See My Oracle Support Doc ID 1160507.1):
|Leg. Code||Legislation Name||Product ID||R11||R12.0.x||R12.1||R12.2|
With a lot of functionality being delivered in these patches, coupled with a short two-month window in which to apply them and fully test your business critical HR and Payroll processes without putting your business at risk, it is time to check out Panaya’s patch impact automation solutions to identify the impact a specific Oracle statutory patch might have on your own Oracle EBS System.
Just to give an example: The mandatory prerequisite HR RUP8 patch for 12.1.3 contains over 70,000 files. Within 24 hours, Panaya was able to provide a prioritized Unit Test plan pinpointing the 1200 objects that need to be tested in one customer’s system .
So if you want to be compliance-ready by 1st of April 2016, without the need for full regression testing of the entire EBS system, you need to identify exactly what you need to test. Check out our Oracle EBS Patches page to identify the impact a specific Oracle statutory patch might have on your own Oracle EBS System or simply request a demo to experience how Panaya can make you compliance ready today.