what is reference data set in Oracle cloud Fusion

Oracle cloud fusion reference data set functionality is to share an enterprise setup data (AP/AR Payment Terms, sales polices, transaction types, etc) and list of data objects can be shared https://hyrglobalsource.com/blog/2020/06/28/what-reference-data-objects-can-be-shared-across-business-units-in-fusion/ across business units 

Reference Data Set functionality is introduced in Oracle Cloud. Reference data sets are logical groups of reference data that various transactional entities can use depending on the business context.

Business Case- Business has 2 Business units and both need to access separate Payment Terms values (2/10 Net 30, End of Month, Mid of Month, Net 60, Net Monthly Account) by not creating same payment terms for each business unit separately rather how you share the enterprise setup data(example payment terms) using reference Data Set functionality or setid

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The Solution is to define separate reference data sets for separate BU

STEP1: Define Reference Data Set – 

Navigate to task- Manage Reference Data Set 

STEP2: Assign Set to BU – 

Navigate to task- Manage Business Unit and assign above reference data sets

US BU

UK BU

STEP3- US Business Unit resources can only access following specific payment terms. 

To achieve this Assign reference data set ‘US1BUSET’ to these ‘payment terms’ only: –

2/10 Net 30

End Of Month

Mid Of Month

Net 60

Net Monthly Account

STEP4: – For each of the above payment terms, assign US1BUSET Reference Data Set.

Go to the task – Manage Payment Terms

STEP5 – Create an invoice for US1 BU and find that only above 5 payment terms can be seen in the LOV

2^nd Business requirement is ‘UK BU’ resources can access specific payment term –‘Net45’. 

STEP6: – For required payment term, assign UK1BUSET Reference Data Set as shown below: –

STEP7 – Create an invoice for UK Business Unit and find that only above payment term can be seen in the LOV