Asset Tracking in R12 (formerly known as Enterprise Installed Base), provides the functionality of operational and financial tracking of assets that are deployed in the feild as well as that are in inventory.
Traditionally we have been creating assets in Fixed Assets using the Procure to Pay business flow. These POs have destination type as expense and not as inventory. Once the PO is matched to Invoice, Mass Additions Create Program sends assets to Mass Additions interface.
On the other hand Asset Tracking can create assets that are purchased into Inventory. While still being in Inventory, assets are created in fixed assets and depreciated. Operationally these assets are tracked in this application using the Installed Base’s current location. It uses Installed Base functionality as backbone to track the location of the assets.
Features of Asset Tracking
Asset Tracking is all about two kinds of items : Depreciable Items and Non-depreciable items. Depreciable items are those that depreciate while still being in Inventory. Non-Depreciable items are those that are still tracked as assets and depreciated while being “deployed” in the field (issued to field location or a project).
Foremost requirement for tracking an asset in this application is that the item is Intalled Base trackable. This is an attribute maintained in the item master. Using the integration between Inventory and Installed Base, all depreciable items, are created as assets as soon they are received into inventory.
All transactions coming from inventory and deployment transactions of Asset Tracking are tracked in Installed Base against the instance of this asset. Also Instance is linked to the financial asset in the installed base.
This application tracks the asset life cycle. When a depreciable item is received into inventory, asset gets created, but when it is sold or issued out the asset gets retired. On the otherside non-depreciable items are created as assets only when they are deployed not when they are in Inventory.
Alternatively assets can be created in the Fixed Assets first and then created in Asset Tracking, which automatically ties the asset and instance in Installed Base.
Integration of Asset Tracking
Asset Tracking inherits all the integration that is out there for the Installed Base with other products. Asset Tracking integrates the operational aspects of the installed base with financial aspects of assets.