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A Brief Discussion on Oracle Property Manager Setup Checklist

As we have seen in the earlier post, Oracle Property
Manager integrates with many sub ledgers. So w
hen you first install and set
up Oracle Property Manager for your business, you must configure several
components with in Property Manager as well as in other subledgers. Here is a
brief discussion on those required setups

  1. In other
    subledgers
  2. In Oracle
    Property Manager
A. In other
subledgers
: Oracle Property Manager integrates / uses many information
which are defined in other sub ledgers. So before we start implementing
Property Manager, few mandatory / optional setups need to be done in other
subledgers. The below table gives a glimpse of few important setups

Subledger

Setups

General Ledger

- Define Chart of Account

- Enter Accounting Calendar / period type

- Define legal Entities

- Define Ledger

- Define / enable Currency and exchange rates

- Set up profile GL: Ledger Name

HRMS

- Define employees

- Define Organization

- Define Security Profiles

Subledger

- Modify predefined setups in Oracle Subledger
Accounting (if required)

- Set Up Subledger Accounting Options

Receivables

- Enter Customer Details

- Define transaction types / sources

- Define Payment term

Payables

- Enter suppliers

- Define distribution sets

E-Business-Tax

- Set up taxes

B. In
Oracle Property Manager
:
When
you first install and set up Oracle Property Manager for your business,
you must configure several components, including flexfields, lookups, and
system options. After these components are properly configured, you can
use Oracle Property Manager without making any routine modifications.

The required setups in Property
Manager can be mainly classified into

a. Profile options

b. System Options

c. Descriptive Flexfields and look ups

d. Location Hierarchy

e. Contacts

a. Profile options: A profile is a set of
changeable options that affect the way your application looks and behaves. In
Property Manager, we have many profile options which decides the way a
functionality / application works. In Property Manager few profiles are set at
system options level and few are set at system administrator level.

For more
details on the different profile options available, values that can be set for
each profile option, how application / functionality changes with each option,
refer the document 1099133.1.

b. System options: System options to customize the Oracle Property Manager
environment for each operating unit. System options determine your ledger and
currency conversion type, accounting option etc. System options also control
how Oracle Property Manager displays location aliases, sends information to
Oracle Payables, and Oracle Receivables, and governs creation of leases and
space assignments. It also has options to set the automatic number generation
for lease, rent increase, variable rent etc.

c Descriptive Flexfields and look ups: Descriptive flexfields are normally used to capture
the additional information that is
important and unique to your business and these information’s are not captured
in standard application. So while implementing Oracle Property Manager, one has
to decide what addition information business wants to capture and based on that
define the structure of descriptive flex fields and their respective value
sets.

Oracle Property Manager module also
provides an option to add and modify some of the look up values to better match
your enterprise needs in the Oracle Property Manager Lookups window.

d. Location Hierarchy: In Oracle Property Manager, the term property refers to
land or to built-up property. Whether your property consists of vacant land or
buildings, you can define it at several levels. For built-up property, the
default location hierarchy is building, floor, and office. For land, the
location hierarchy is land, parcel, and section.

However, different industries use
different terms for properties. So based on your business needs, You can
customize property-naming conventions by changing the meaning and description fields for the
PN_LOCATION_TYPE lookup. After you change the values in the lookup, the new property terms
replace the old terms throughout Oracle Property Manager.

e. Contacts: Contact feature is
normally used to record the contact details of
companies or other business entities /parties
to the lease like land lords, insurance companies, security, maintenance etc.
You can record contact information for each contact, including the name and
address of the business, telephone number, and e-mail address of people in the
contact company.

For
additional / detailed information on each of these setup considerations refer Oracle
Property Manager Implementation guide.

Join the discussion

Comments ( 1 )
  • Babar Thursday, June 21, 2018
    Hi,

    Can we handle Cam charges in Property Manager Module?

    Can we have contact as attachment against each Lease agreement between Company and Landlord?

    Thanks,
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