Overview of Asset Lifecycle Management
Oracle Assets automates asset management and simplifies fixed asset accounting tasks.
The application:
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Uses a unified source of asset data (with data from your Oracle Fusion applications as well as external feeder systems).
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Provides you with visibility into your assets worldwide.
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Provides data security and function access.
You can streamline standard asset management tasks with automated business flows for these transactions:
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Asset additions
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Asset transfers
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Disposals
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Reclassifications
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Financial adjustments
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Legacy data conversions
You can also use standard accounting, operational, and registry reports for ease of reconciliation and analysis.
Assets directly integrates with the following applications:
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Oracle Payables
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Oracle Project Costing
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Oracle Subledger Accounting
Integrate with Payables
To create assets from invoice information in Payables, use the following flow:
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Use the Create Mass Additions for Assets process to send valid invoice line distributions and associated discounts from Payables to the Mass Additions interface table in Assets.
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Review the mass addition lines in Assets and determine whether to create assets from the lines.
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Create the assets in Assets.
Integrate with Maintenance and Receiving
To create assets from receipts from Oracle Receiving, use the following flow:
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Create the purchase order in Oracle Procurement.
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Receive the items into the inventory organization defined in the purchase order.
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Create the assets in Assets.
Integrate with Maintenance Management and Installed Base
Associate your fixed asset with the Installed Base and Maintenance asset either manually, or through file-based data import (FBDI) or REST services.
Integrate with Project Costing
To create assets from project lines in Project Costing, use the following flow:
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Collect construction-in-process (CIP) costs for capital assets you're building in Project Costing.
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When you finish building your CIP asset, capitalize the associated costs as asset lines in Project Costing.
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Run the Interface Assets process to send valid capital asset lines to the Mass Additions interface table in Assets.
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Review the mass addition lines in Assets and determine whether to create assets from the lines.
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Create the assets in Assets.
Integrate with Subledger Accounting
Assets is fully integrated with Subledger Accounting for generating accounting entries, transaction drill down, and reporting. You can:
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Run the Create Accounting for Assets process to create journal entries for transaction events in Assets.
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Transfer and post the journal entries to Oracle General Ledger.
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Use the accounting reports to review accounting information for your assets, and to reconcile to the general ledger.