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!"#$%&'()*+ !"#$!%&'$(%)*+,-.)/ Introduction
Physical inventory is a critical business process through which a successful enterprise periodically inspects its assets to protect its large capital investments and to comply with auditing requirements. Oracle Assets is a worldwide best practice tool which automates the physical inventory process minimizing administrative costs. This paper discusses how to use Oracle Assets to ensure that the assets in your database match the assets in your inventory. Release 11 now includes Physical Inventory functionality which allows you to upload the results of an asset stock take into temporary tables in Oracle Assets, and compare these against the assets in your Asset workbench. The Physical Inventory functionality can be extended by use of mobile devices, such as a scanner or palm device, to electronically collect asset details during the stock take. Use of bar code labels to identify assets has the added advantage of making the stock takes faster and even more accurate. Manual entry of stock take results into Oracle Assets Physical Inventory screens is also available. The Physical Inventory comparison process facilitates conducting a staggered asset inventory by allowing you to narrow down comparisons by location, category, or both. The process highlights the differences found as a result of the stock take comparison, and you manually adjust the assets accordingly. Various reports exist for reconciliation of the inventory, and to aid in location of missing assets. All of this is now possible with version 6 of the Oracle Applications Desktop Integrator (ADI) which assists with loading normal asset additions into Oracle Mass Additions, and stock take results into the Physical Inventory interface tables. The new Physical Inventory reports are run from the Request Centre.
An Integrated Solution for Asset Stock Takes
Labelling your assets with bar codes facilitates the use of technology such as mobile scanners or palm devices with infra-red for faster, more accurate stock takes. These scanners are used to collect basic asset inventory details - such as asset number, units and physical location. Data is usually input using just the laser reader or via a combination of the laser reader and the device keypad. The keypad acts as a back up in the event the bar code is damaged. Even locations as defined in your Oracle Assets can be transformed into bar code labels and used as input in the stock take process. When a location or branch has finished scanning their assets, they connect the device to their PC and upload the information. From here the file (usually text or Excel) can be emailed to the Asset Manager in Head Office for loading into Oracle Assets via Oracle Applications Desktop Integrator (ADI). A bar code printer completes the solution depicted in Figure 1 below, allowing you to print or re-print your own asset labels as required.
This is only a default for a new asset. The other new field is in the asset definition screen. choose whether to change or keep the default for the ‘In Physical Inventory’ value.7 or from another legacy asset system. When adding your new assets.Physical Inventory . Oracle Fixed Assets Application Set Up Two new fields have been created in Oracle Release 11 to enable Physical Inventory comparisons. When setting up your asset categories. one of your conversion tasks will be to nominate the ‘In Physical Inventory’ defaults for your asset categories. Entering a Physical Inventory in Release 11 The new main menu option . and then to manually adjust this for any assets that do not match the category default settings.Oracle® Assets Physical Inventory Management Oracle® ADI Remote Scanner Workstation Bar code Printer Figure 1. be included in Physical Inventories. The first ‘Enter’ allows you to manually enter asset stock take results. which can be overridden during individual asset setup. The second option ‘Comparison’ allows you to run the comparison of Oracle Assets against the Inventory and then view the results. by default. An Integrated Asset Stock Take Solution. If you upgrade from version10. through either Quick Additions or New Asset. Typically assets such as buildings and land would not. whereas computers and mobile phones would be included. . you will need to decide whether an asset category should be included by default in Physical Inventory comparisons. Mark the new check box labelled ‘Physical Inventory’.houses two activities.
86 Figure 3.$*& A(44(/2)<& +3. The first two of these options are discussed in detail below. the first step is to create a physical inventory name in Oracle Fixed Assets.& 7++*# 9-8:*."<& 9-8:*.You can load physical inventory data into Oracle Assets using several different methods. and a start date. You can: manually enter data in the Physical Inventory Entries window.& (. Give your inventory a name.& =*. import data from an Excel spreadsheet using ADI.%& 0*#"24+6& 7+& "& 82)28-8& %(-& 8-+#& *)#*.%&A(. To enter a Physical Inventory manually.%&*)#. Entering Physical Inventory Results . Physical Inventory Header . Click Open.2"4& 9-8:*.*& )(/& .& (.(-& ".& %(-.& .>& ?(3"#2()& ")0& @)2#+6& . Figure 2.**)& +$(/+& #$* B$%+23"4&C)5*)#(. import data from a non-Oracle system using SQL*Loader. Use the menu path Physical Inventory /Enter.& 1$%+23"4& 2)5*)#(.*"0%& #(& *)#*.
+2()&F6G&1.+#&1".*+6 .*"#*&")&"++*#&+#(3J&#"J*&#*814"#*>&+#".%&3(4-8)+&A(."34*&7EC&5*.& 8(52)<& 0"#"& :*#/**) HI3*4&")0&D. as shown below.(8&#*I#&A24*+&2)#(&HI3*4&#*814"#*+6&. than you can create a new layout by clicking on the pencil icon and choosing New. Once you choose OK.%&2)&#$*&M*3(. select the Inventory Name you created in Oracle.&.02)<&%(-.*0&0"#":"+* *)52.0&B$%+23"4&C)5*)#(.%&7EC&(1#2()>&"+&+$(/)&:*4(/6 Figure 4.*"#*& #*814"#*& +1.*"0+$**#+& A(.(520*+&"&A"3242#%&#(& 3. If the fields on the default template are not what you need.&"++*#&2)5*)#(.*3(.%O6&.(8-+#&:*&3())*3#*0&#(&"&0"#":"+*&#(&-+*&#$*+*&A*"#-.2)<&"&B$%+23"4&C)5*)#(.(-&+#244&)**0&#(&+*#&-1&"&1$%+23"4&2)5*)#(.*3(.*52(-+4%&2)&NL")-"44%&*)#*.0&2)&D."34*>&")0&#*814"#*&#*I#&A24*&4"%(-#+&#(&8(5*&0"#"&A."34*&7EC6&!())*3#&#(&#$*&."34*&7++*#+>&+(&A(44(/&#$*&A2.%&$*"0*.()8*)#6&@+*&#$*&7EC&7++*#+&L*)-&(1#2()&M*3(.%&#(&+*#-1&"&+1. this will create a default ADI template.(-&/244&#$*)&:*&":4*&#( +*4*3#&#$2+&2)5*)#(.%&0*#"24+6 .&.(&3.*K-2.Importing Inventory data from an Excel spreadsheet using Oracle ADI D.*"0+$**#&/2#$ #$*&)*3*++".#&HI3*4&")0&D. . Selecting an Inventory Name First.0&B$%+23"4&C)5*)#(.#&(A #$*&+#*1+&02+3-++*0&1.
()89"&'@. Units and Asset Number have been dragged and dropped from the available fields list into the into the Lines Box to achieve the layout in Figure 6. The Header section remains empty in this example. ()89"&':.Location AHS INV Q1 2000 AHS Test Units Value Asset Number Text Messages Total: Note: This is not the end of the Inventory worksheet. Figure 7 shows how the 3 fields Location.&>?%#.Text: NSW. then the location column could go into the header section. You can however put fields that contain all the same value in the header. For example. and only needs to be completed once.Inventory Name: Database: Location Upl Asset Number Text AHS INV Q1 2000 AHS Test List .'.'A5+)=)&+'. Unprotect the sheet and insert as many rows as needed.& . Unprotect the sheet and insert as many rows as needed.<2'.<2'B&>?%#. Inventory Name: Database: Upl Location List .'<&=#9%. than you can create your own layout. if this stock take was for a single location.& Creating a New Asset Stock Take Template If the fields on the default template (Figure 5) are not what you need.MRD Messages Units Value Description Text 1 Total: Note: This is not the end of the Inventory worksheet. Figure 6 is our desired layout.
You usually will have specified what fields the mobile scanner will be collecting – such as Asset Number. or import them from a text file into the template.Figure 7. Select your source text file. This text file can then be imported into a template in ADI. The instructions below demonstrate how to complete this step. Once you save this template you are now ready to either key your asset stock take results. In our example we will specify Comma as the delimiter. and that the first row in the text file does not contain field names. Creating a Custom ADI Template. Oracle Assets ADI offers a graphical. . Choose Import text file from the ADI Assets menu. and Location. The screen will show the contents of the selected source file to assist you in creating a map file. Units. Importing a Text File into an Asset Stock Take Template The mobile scanning devices mentioned earlier as part of the integrated stock take solution should be able to output the results of a stock take into a text file. Remember you must be connected to a database to perform this step. easy to use facility to import your text file into the spreadsheet.
&. Before using an ADI text file Mapping Template. you can see the before and after desired status for setting up the mapping screen.'()%&'A#??)38'B&>?%#. Click OK on the main Import Text File screen to import your text file. .If no map is available. Units and Asset Number respectively.&"'9-)38'#3'. ()89"&'C. Figure 8.=. Field 2 and Field 3 (which is the data from the first row of our text file) into Location. Drag and drop Field 1. In the following two diagrams. create a new map by clicking on the pencil icon.<2'B&*. Click OK to Save the Layout.'.
as shown in Figure 9 below. Oracle Assets updates the UNIT_RECONCILE_MTH field in the FA_INV_INTERFACE table with a code which indicates whether the . Otherwise you can run the comparison and view the results from within Oracle. You must enter the name of the physical inventory being compared. In this case specify to upload only flagged rows. or both. You will be able to view and edit the records that have been uploaded. unless you are re-uploading as the result of an error. or Non Inventorial. Correct it and re-upload the remaining rows.AHS INV Q1 2000). Oracle allows you to narrow the search criteria: you can enter the location. the comparison program compares all assets in the physical inventory with the assets in your production system. the category. Use the ADI Assets menu Upload File. Specify all rows to be uploaded. Running the Physical Comparison From within the Fixed Assets Responsibility. Figure 10. If you do not enter either of these parameters. The status of the match is recorded in the underlying inventory tables eg Reconciled. navigate to Physical Inventory / Run.Upload Your Asset Data from Excel to Oracle Once your data is in Excel (from a text file or by keying manually) you are ready to upload your data to the Physical Inventory forms in Oracle. ADI Inventory Upload Form To view your data from within Oracle navigate to Physical Inventory / Enter and query up your inventory name (in our example . You can choose to run the inventory comparison and view the results from ADI – the reports will be available in the ADI Request Centre. When you run the Physical Inventory Comparison program. The upload will indicate if rows are found to be in error. or No Asset Number. using the Fixed Assets responsibility. Look in the right hand Messages column for the source of the error.
You can then transfer assets that are recorded at the wrong location. Unfortunately. Under the Adjustments heading it suggests what transaction to perform to correct the difference – either a location transfer or unit transfer (if the number of units differs between Oracle and the stock take). Alternatively you can run the Physical Inventory Comparison Report – NEW and NOT UNIQUE records are included. The Location column underneath the Oracle Assets heading (as seen in Figure 10 above) shows where your assets are located according to Oracle. Viewing Physical Comparison Results To view the results online navigate to Physical Inventory / Comparison View. The Location column underneath Physical Inventory heading shows where your assets are located according to your stock take. so you can only run this from the ADI Request Centre.asset needs an adjustment in the number of units stored in Oracle Assets. The differences are highlighted. NEW and NOT UNIQUE records are not shown. retire assets that could not be found. the changes cannot be made automatically from the stock take results without some custom development work in Assets. and if so. and reinstate assets that were retired incorrectly. Figure 11. This report is a Report eXchange Report. Physical Inventory Comparison Screen. the type of unit adjustment needed eg Location Adjustment if an asset was found to be in a different location to that recorded in Oracle. . Reconciliation and Reporting Reconcile your assets by making the necessary adjustments in the Asset Workbench. Note: both allow narrowing of search criteria to Location or Category.
Figure 13 shows a customised template for creating assets. and design a custom report in Oracle Reports to print a range of numbers. or you may decide to send a single device around to various regions when it is their turn to perform an asset stock take. This feature may also be used to bridge Oracle Assets with a third party Payables application. The following picture shows a reasonably simple. for example if all assets will be of type ‘Capitalized’. Alternatively you may decide to purchase your own bar code printer. you can run the Physical Inventory Missing Assets Report to determine if there are any assets in your production system that could not be found during the physical inventory process. You can create a new template if the default template does not suit your requirements. ADI has a separate menu option – Create Assets that helps you build your Excel templates. query up your inventory name and enter the end date for this inventory. . You should decide how many scanning devices you will require if your operations are spread out between cities or states. to cheaper “Indestructible Vinyl” that is reasonably durable. which decodes the escape characters and converts them to bar codes. and the actual asset number on the label for further identification. The style “Code3of 9” is popular and readable by most scanning devices. there are some aspects to consider before hand. Sample Bar Code Label Loading Assets into Mass Additions Using Oracle ADI Using the Mass Additions feature Oracle Assets lets you create asset additions from information in other systems. Oracle ADI provides you with the ability to load asset details into the Mass Additions interface (the FA_MASS_ADDITIONS table). There are many companies that will pre-print your labels with asset numbers for you. You then need to consider printing of the labels. You must specify an end date before you can close and purge the physical inventory data. in addition to creating assets from invoice lines in Oracle Payables. Navigate to Physical Inventory / Enter. Bar Code Label Considerations If you are thinking of using Bar Code labels to assist with your stock takes. ABC Company |||||||||||||||||||||||| 100098 Figure 12. The process to load Assets into Mass Additions is similar to that used to load Asset stock take results into Physical Inventory. and you will only need to enter them once. When you have finished with the stock take data. You need to decide what style of bar code you will use. discussed earlier in this paper. It is easy to include your company name. but effective bar code. For those fields that will not change value. A bar code is printed by sending a series of escape characters to a special printer. This is particularly useful in the conversion of data from legacy asset systems into Oracle Assets. You must select the fields marked with an Asterisk at a minimum. Label paper ranges from tough metallic formats that are difficult to remove from assets.When you are finished with reconciling your physical inventory. you can purge the records. then position these fields in the header of the template. You will also need to consider the type of label media that best suits your company’s operations. The appropriate escape characters are usually listed and explained in the printer manuals.
Conclusion Asset Stock takes are the bane of most Finance departments. and add the remaining asset details from the Mass Additions form in Oracle Assets.& When you have entered your assets into the template. If you have all the information for your assets.Text: Yes List . but it will make the task of identifying those assets that need to be changed. and attempt to upload again.Text: List . by ticking the check box ‘Create Assets Now (Post)’.Corporate Book: Database: AHS AHS Test Date: Accounting Date Asset Type Depreciate In Physical Inventory Upl Description State Location Text List . ()89"&'DE.Location Capitalized Yes List .-'.--&. Fix the error. use the ADI Menu option ‘Upload to Interface’ to transfer your assets.Text: Major Minor Units Value Cost Value Co C/C Acct Proj Co C/C Acct Proj List .Expense Account List . you can submit the Mass Additions posting program from within ADI. Copyright @2000 Cathy Jones . On Hold or Post. Any errors encountered during your upload will be displayed in the Messages column. Unprotect the sheet and insert as many rows as needed. However with Oracle Assets Release 11 Physical Inventory functions you can make the chore of asset stock takes less onerous. The Physical Inventory comparison program will not update incorrect assets for you. Otherwise load you assets with a status of new or post. simple to use and easy to integrate with Oracle Assets using Oracle ADI. much easier. The technology is cost effective.'7"&#.<2'B&>?%#.&'. An integrated solution combining mobile scanning devices and assets identified by bar codes makes the stock take process even faster and more accurate.Clearing Account Total: Note: This is not the end of the Asset worksheet.Category List . You can choose whether your assets go into the mass additions table with a status of New.
The Oracle Assets physical inventory bar code and scanning extension arose in response to our customer’s needs to simplify and make more accurate the asset stock take process. She has over 10 years experience in the consulting industry. and the new Oracle Release 11i portal technology is the key enabler in this important business solution.About the Presenter Cathy Jones is a consultant with Red Rock Consulting. and 2 years experience with Oracle Applications. . The flexibility of Oracle Applications interfaces. The majority of her work with Oracle Applications has focused on Fixed Assets. Cathy is currently involved in a large project that aims to use an existing head office Oracle Financials implementation to offer a customised business systems solution to a network of 72 regional offices around Australia. Receivables and Cash Management.
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