General Ledger - EBS (MOSC)

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Check Funds Failed with Exception on GL Account DIstribution - Budget Control Group and Encumbrance

in General Ledger - EBS (MOSC) Question
 We are on Oracle EBS 12.1 and enabling encumbrance and Budget Check for iProcurement.Having go through the step by step setup and configuration. The diagnostics for iprocurement budget check shows the budget GL account cant be located with budget and Budget control group is non existent.
Both Budget Control Group was defined with the budget organization on General Ledger Setup along with the budget defined on the GL Account.
My question is:
1. Are there any more prerequisite patches on version 12.1 for ORacle EBS for this since I located a lot of patches required on version 11i on the same issue

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