Assets related enhacements to Oracle AP in 12i

•Enhanced Asset Tracking - R12 provides the ability to track attributes of an item, such as manufacturer, serial number, from Purchasing through Accounts Payable to Fixed Assets. This increases processing efficiency and eliminates manual updates in FA that may have been required in the past.
–Item Description
–Manufacturer
–Model
–Serial Number
–Warranty Number
•Enhanced Mass Additions
–Asset Book
–Asset Category
–IPV/ERV distributions

Enhanced Asset Tracking Benefits:
Increased Efficiency and Reduced Costs
•Asset information typically entered on a purchase order, such as manufacturer, serial number, and model number, can now flow seamlessly into Payables and Assets.
Improved accuracy of information
•The Create Mass Additions process can now be submitted to select only those invoice distributions with a specific Asset Book, reducing the possibility of errors that need to be manually corrected.

Enhanced Asset Tracking Process:
•Enter or import a Payables Invoice and Match to Purchase Order.
•Payables retains the asset information.
•Optionally, update asset information on the invoice line or distribution.
•Submit the Create Mass Additions Process to transfer the Assets.

Invoice Lines:
Oracle Payables incorporates Invoice Lines into the invoice model. Adding Invoice Lines is a key architectural change, which enables Oracle Payables to better model the paper or electronic business document yet maintain key features that exist at the invoice distributions level.

Merged into the current invoice transaction business flows, Invoice Lines support the representation of the goods or services as well as tax, freight, and other charges as lines with distributions tied to each line. Additional fields record attributes such as serial numbers and item descriptions.

This feature offers the ability for line level approval and matching between an invoice line and a purchase order shipment pay item, or receipt. Furthermore, it facilitates the capture and transfer of additional, pertinent information to and from Oracle Projects and Oracle Assets.