Recent Posts by Vaishali Karanth

In today’s modern world with the globalization, it is quite common for any organization to have business spread across different countries. In this case, to run their business, organization will end up taking leases in the country in which they are operating and these lease payments need to be done in a foreign currency. To meet this growing requirement of organization, Oracle Property manager enhanced to handle the foreign currency leases.  In property manager a billing /...

In today’s world, for any business organization which could be a small business organization or an MNC, generating reports for management reporting or for tax authority / compliance reporting is one of the major task. In Oracle application, we have many standard reports to extract the different set of data in each of the subledgers that you are using. However these standard reports will have fixed format / columns and they cannot be modified / changed to meet the reporting...

Recently a new Cumulative patch is released for the Property Manager IFRS and Equipment leasing solution. The patch details are 12.1.3 - 29789413:R12.PN.B 12.2.X - 29789413:R12.PN.C In the above cumulative patch, in addition to few regular bug fixes, few major enhancements are also done to the product. Below is the a quick glimpse of those enhancements Linking of Payment Terms :- Currently in Property Manager or Equipment lease, we cannot update most of the attributes of a...

While implementing fixed assets, setting up system control is the one of the first and most important setup as this is a onetime setup and also a instance level setup rather than asset book / operating unit / Ledger specific setup. So all the fixed assets books which will be implemented  in the current instance will use the key flex field structures setup at system options level. Below setups are done at system control level Enterprise name - Enter the name which you want to...

As we all know, all the customers who are following IFRS / US GAAP accounting standards has to switch to new reporting / accounting process with effect from 1st Jan 2019. All the existing customers who are already using the existing property manager functionality and have their leases running in the Oracle EBS property manager, need to migrate their existing leases from current property manager solution to new IFRS regime. When it comes to transition from current property...

Deciding key flex field structure is an important decision in any organization while implementing Oracle application. When it comes to fixed assets, before defining the key flexfield structures proper planning needs to be done on the design as these flex field segments / structures cannot be changed at a later stage and the segments defined in these flex fields are applicable at instance level and all the books defined in that particular instance will be using the same asset...

We have great news!. We have released an info center for Oracle Property manager IFRS and Equipment Lease. Going forward this will be a one stop shop for all the IFRS and Equipment lease question and will have all the latest released documents and product updates. This info center has multiple tabs like Here is a brief description of each of the tabs above Introduction :- This contains details of high level changes that are brought in as a part of IFRS & US GAAP with respect to...

Oracle Assets is one of the modules in the EBS Financials Suite. This module is used to record the asset information manually and to import the asset information from the payables / Projects module etc using Mass Additions. The basic Functions of Oracle Assets are: 1. Recording of Asset manually or through mass additions 2. Updating the changes if any using Mass transactions 3. Running the Depreciation Program as per the depreciation calendar 4. Generating the Accounting Entries 5....

The Equipment lease-for Lessee is a new feature and part of Oracle Property Management systems. This Oracle Equipment lease-for Lessee provides the Lessee to manage their equipment lease portfolio in an effective and efficient manner and this feature also helps the lessee to meet the compliance requirement of IFRS and US GAAP. The simple and most logic reason behind the introduction of equipment leasing –lessee accounting module is the crying need for equipment leasing...