Inventory to Assets

[suhail]

Hi All,

Can we procure an item and receive it in inventory and then shift the item from inventory to Oracle Assets.

So what i am asking is that is there an integration between oracle inventory and Oracle Assets.

Thank You.

[Ritz]

Defining an item as inventory has a different financial implications and defining it as an asset has different implications which hit the balance sheets. They should hence be defined seperatly and not be mixed up.

Ritz

[suhail]

Thank you for your reply . Can u pls elaborate your reply as to why inventory and fixed assets items should be defined separtely.
Thank You.

[Ritz]

Both will have different accounts as per financial accounting. Fixed assets for eg will have a different depriciation rate as compared to inventory. Inventory will undergo various operations , like WIP etc and also undergo various value additions. Since they have different purposes in business they will have to be treated differently in Oracle apps.

Ritz

[arun1203]

Hi Suhail [:)],

Answer for your question <font color="red"><b>Can we procure an item and receive it in inventory and then shift the item from inventory to Oracle Assets? </b> </font id="red">
is <font color="blue"><b>YES</b></font id="blue">.

There is an integration between Oracle Assets and Oracle Inventory.

What ever the Items you buy from Purchasing Module and Receive by using Inventory modules ,can be transferred to Oracle Assets.

The steps you need to follow are as follows:

1/ Assign the Asset Category for the item in <font color="red"><b>Master Items </b></font id="red"> form

2/ Procure the Item by using Purchasing.

3/ Receive the Item by using Inventory.

4/ Rasie an Invoice in Payables and match the invoice with the respective PO number of the item.

5/Run <font color="red"><b>Mass Additions Create </b></font id="red"> program.

This program will transfer the item information to Oracle Assets.

You can verify this by quering your Invoice number in <font color="red"><b>Prepare Mass Additions </b></font id="red"> form.
The Asset Category you entered in Master Items form will appear as the default Asset Category.

Hope now it is clear to you.

<font color="red"><b>Regards [:)],
Arun Reddy.
E-Mail:arunapps@gmail.com</b></font id="red">

[Ritz]

Hi Arun,

If an item is defined already as an Inventory item and has undergone multiple transactions in say 2 years. Now can this item be changed to an Asset?

Ritz

[arun1203]

Hi Ritz [:)],

I have assigned Asset Category for an item which is already defined and undergone several transactions.

System didnt gave any error or warning.

So my answer for your question is YES.

<font color="red"><b>Regards [:)],
Arun Reddy.
E-Mail:arunapps@gmail.com</b></font id="red">