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If you are customer/client is coming from other system like SUN or SAP, you can notice some good features and some missing feature Oracle Fixed Asset while comparing.
- Assets purchased through AP coded to an asset clearing account are dynamically transferred into the asset register; there is no need for them to be re-input. This is what called asset Tracking in Oracle.
- GL codes, depreciation method and useful lives default from asset category and do not need to be input, therefore reducing error. This is yet another good feature.
- Ability to run and rollback depreciation many times to review results and correct errors in Oracle.
- Ability to make mass changes (additions, adjustments, transfers, disposals) e.g. cost centre transfers,location, employee and to a group of assets therefore process will get faster.
- Retirement and Disposal does not have any distinction in Oracle.
- Capital budgeting requirements at category level as nicely controlled in Oracle, as compare to SAP.
- In SAP, there is some good automation of feature like "Asset Shutdown" where SAP users like.Asset Shutdown can be consider in case if you have an asset which you do not want not be used for production purposes for next six months as the company is being closed for whatever reason.
- See how you can transfer assets from one cost centre to another and across entities?
- [Oracle ] As mention earlier also, assets can be owned by one entity and have depreciation charge going to another. Asset transfers would be typically be treated as a disposal and purchase by the new entity if across completely different legal entities- this can either be gone as a GL journal or via the AR/AP modules - the process will depend upon and varies business process and the local legislative requirements
- [SAP] The SAP system provides transactions to transfer assets from one cost centre to another and from one company to another where-in the asset values and accumulated gets transferred automatically.
- Asset register Usage and Maintance
- [SAP] The asset register is a standard report available in the asset management module of SAP. This reports does shows all acquisitions, transfers, retirements, depreciations, revaluations.In asset management you create an asset first and then use the asset number created for capitalising the asset.
- [Oracle] Assets (ideally) are created from Payables as invoices which goes to a Fixed Assets additions screen from where the Asset Manager/user can review which items to incorporate to the asset register.Assets can also be created in the Fixed Assets modules. CIP based assets can directly integrated with Project and PO modules.
- Assets integrates with the general ledger which can process the journals automatically - this is typically done at month end so the depreciation can be run and rerun many times if required
- Oracle does have iAsset , a purly web based application designed to cater to manage employees and access information about a company's capital assets, such as equipment and machinery.
Disclaimer : SAP Functionality which is discussed is based out of Personal observation and discussion with SAP user, which they are using bit older version.Any Conflicts with SAP functionlity must be validated. Oracle Version which is used for reference is 188.8.131.52/R12.