As we have seen in the earlier post, Oracle Property Manager integrates with many sub ledgers. So when 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
- In other subledgers
- In Oracle Property Manager
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 |
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 theadditional 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.