Optimize Your Business with Oracle: Fixed Assets Management

One of the crucial parts of any business is the proper management of assets. There are two types of assets an enterprise can have:

• Liquid assets – money in cash or bank accounts
• Fixed assets – the property that’s not so simple to turn into cash

What exactly can a fixed asset mean for a business? Think of a building your headquarters are located in. The desks and computers your staff is using. The heavy machinery or other tools you use in providing your services. Basically, it is everything your enterprise needs to be able to generate an income.

While liquid assets are easy to document, working with fixed assets might be a little bit trickier. To help you with that, Kodoru Sridevi has prepared an extensive Oracle R12 tutorial to discuss one particular module in depth. It’s called Oracle Fixed Assets.

What tasks can Oracle Fixed Assets simplify?

First of all, we need to clarify what exactly Oracle Fixed Assets is. In 2007, the Oracle corporation released a software bundle called the Oracle E-Business Suite, or simply Oracle Apps R12. It is an excellent option for enterprises, as the set of applications can significantly improve efficiency by helping you deal with financial and managerial tasks. One of the apps in the set is Oracle Fixed Assets: as the name itself suggests, it enables you to manage the fixed assets that belong to your business in a more straightforward and efficient manner.

With Oracle, assets can be monitored and have their data updated however you like. Among other important tasks, the system allows you to:

• Record the fixed assets you own one by one or during a mass addition
• Update your assets one by one or during a mass transaction
• Deprecate or retire your assets 
• Generate accounting entries
• Use financial year, prorate conversion, and depreciation calendars
• Transfer the data to Oracle General Ledger

Unsure about why would you need to be so scrupulous about fixed assets? Well, you are using them as a means to generate your income. Without taking the worth of the assets and their deprecation into account, you can’t be very precise about your revenue. 

Get your Oracle R12 training from the best!

While it might seem a lot, it’s much easier to learn when you’re guided by an expert. Kodoru Sridevi is a senior Oracle apps and fusion trainer with over a decade of experience – which means she knows exactly what is crucial to know and where you shouldn’t waste time.

Hence, her Oracle R12 tutorial takes just over two hours – nevertheless, you cover all the topics you need to start using Oracle Fixed Assets on your own. If you wish to dive deeper into Oracle R12 training and get to know more applications that might be helpful in managing your business, make sure to check out other tutorials she has created for BitDegree. Knowing the Oracle E-Business Suite can help you become as efficient and productive as you always dreamt of – what are you waiting for?