Oracle Assets is a member of Oracle’s Asset Lifecycle Management solution which is used for asset management and accounting. Oracle Assets is used to manage largest capital investments and automating business flows and accounting rules. Oracle Assets also integrates with external feeder systems to complete processing of asset transfers, disposals, reclassifications, financial and tax adjustments, and legacy data conversions.
Oracle Assets is integrated with other Oracle E-Business Suite modules to optimize asset management processes. Oracle Payables automates asset additions as part of the procure-to-pay process to interface depreciable capitalized assets. Oracle Projects tracks construction-in-process project costs and capitalize them. When retiring costly equipment and properties, track retirement project costs in Oracle Projects and transfer them into Oracle Assets for capital gains and loss calculations.
Oracle Assets seamlessly automates the conversion of asset data from legacy systems lessening the need for error-prone and time-consuming manual data entry. You can populate the values directly in Oracle Assets’ interface table, rather than accepting default values from the defined category in Oracle Assets.
Key Features
Oracle Assets enables you to:
- Improve compliance with configurable accounting rules
- Unlimited asset books, asset categories and depreciation rules
- Data security by asset book
- Automated asset upload from legacy systems
- Self service asset transfer processing
- Automatic process integration from Oracle Accounts Payable and Oracle Projects
- Integrated with centralized configurable accounting rules engine
- Flexible inquiry and reporting
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