Source Line window changes are propagated to the Retire window when you navigate to it. Physical inventory I have Serial and purchase order as the unique identifier. Use split or merge option. Prepare the asset s by assigning an asset category, a date placed in service, and a depreciation expense account. Enquire Now Call Me Back.
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Notify me of new posts via email. Automatic Asset adjustment through Asset Mass Addition Use asset mass addition window to automatically adjust asset. Like this: Like Loading Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in:. Attention: If you use this depreciation calendar in a depreciation book from which you create journal entries for your general ledger, you must make the period names identical to the periods you have set up in your general ledger.
You can define your calendar however you want. For example, to define a calendar, set up your fiscal years, depreciation calendar, and prorate calendar with different start and end dates, and fill in the uneven periods.
Oracle ERP R12 Fixed asset manual (The Way to Oracle ERP) - Kindle edition by Mai Ammar Sharif, Issam Alameh. Download it once and read it on your. 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.
To divide annual depreciation proportionately according to the number of days in each period, enter By Days in the Divide Depreciation field in the Book Controls window. Open the Asset Calendars window. Enter the name of your Calendar.
Suggestion: The name you enter appears in List of Values windows which allow no more than 15 spaces. You may want to limit your name to 15 characters. Choose Fiscal or Calendar to append either the fiscal or calendar year to get the accounting period name.
If you do not want the fiscal or calendar year automatically appended, choose None. For example, if your fiscal year runs from June 1 to May 31, and the current date is July 15, , you are in calendar and fiscal Enter the Fiscal Year Name you want to use for this calendar. Enter the number of periods in the fiscal year for this calendar. Note: You cannot enter more than periods per year. Enter the Name of this period. If your periods include the year, such as JAN and you are using the hyphen - as the suffix delimiter, you must use either a two or four-digit year suffix.
Oracle Assets Otherwise, you can enter a two-digit year suffix.
If you use this depreciation calendar in a depreciation book from which you create journal entries for your general ledger, you must make the period names identical to the periods you have set up in your general ledger. Enter the start and end dates of this period. Prorate Conventions You can set up or review prorate and retirement conventions in the Prorate Conventions window.
You must initially set up all your prorate conventions from the convention period corresponding to the oldest date placed in service through the end of the current fiscal year. At the end of each fiscal year, Oracle Assets automatically sets up your prorate conventions for the next fiscal year.
Open the Prorate Conventions window 2. Enter a Convention name and Description. Enter the Fiscal Year Name for which you want to set up this convention. Select the Depreciate When Placed in Service check box if you want to start taking depreciation in the accounting period that corresponds to the date placed in service, instead of the period that corresponds to the prorate date.
This option determines over how many periods to spread the annual depreciation amount. For assets that use a calculated straight-line method, Oracle Assets ignores this option and always starts taking depreciation in the accounting period that corresponds to the prorate date. Enter date ranges and corresponding prorate dates for assets where the date placed in service is between the From Date and the To Date.
Note: Your convention must include every date in your fiscal year; otherwise, Oracle Assets cannot calculate depreciation properly. You must set up your depreciation books before you can add assets to them. You can set up multiple corporate books that create journal entries for different ledger, or to the same ledger. In either case, you must both run depreciation and create journal entries for each depreciation book. For each corporate book, you can set up multiple tax and budget books that are associated with it.
Open the Book Controls window. Enter the name of the book you want to define. The book name cannot contain any special characters, and must not begin with a number. Enter a brief, unique description of the book.
Choose a Corporate, Tax, or Budget book class. Entering Calendar Information for a Book 1. In the Book Controls window, choose the Calendar tabbed region. Optionally enter a disable date for the depreciation book. Note: Once a book has been disabled, you cannot re-enable it. Choose whether to Allow Purge for the book. Enter the ledger for which you want to create journal entries. Allow GL Posting if you want to create journal entries for this book. You cannot allow general ledger posting for your budget books. You can enter a different ledger for your tax book than the ledger of the associated corporate book.
The different ledger must be a secondary ledger of the ledger assigned to the corporate book and the following conditions must be satisfied: o Oracle Subledger Accounting should be enabled and Use Primary Ledger Amounts should be set to No in the Accounting options of the secondary ledger setup. Enter the name of the Depreciation Calendar you want to use for this book.
Enter the name of the Prorate Calendar that you want to use for this book. Use the prorate calendar with the smallest period size or resolution you need for determining your depreciation rate. Enter the current open period name for this book. Note: You must set up the depreciation calendar for at least one period before the current period.
Enter the method for dividing the annual depreciation amount over the periods in your fiscal year for this book. Choose whether to depreciate assets in this book that are retired in their first year of life. Enter the date on which you last calculated depreciation for this book. Oracle Assets updates this date when you run depreciation. In the Book Controls window, choose the Accounting tabbed region.
Choose the Create Intercompany Balancing Entries check box if you want Oracle Assets to create intercompany journal entries when you run the Create Journal Entries program. Check the Allow Amortized Changes check box to allow amortized changes in this book. Choose Allow Mass Changes to allow mass changes in this book. Note: Oracle Assets does not allow mass change to assets for which you have entered unplanned depreciation. Enter the minimum time you must hold an asset for Oracle Assets to report it as a capital gain when you retire it.
If you want Oracle Assets to report a capital gain for all assets when you retire them, enter zero for the threshold. If you hold the asset for less than the threshold, Oracle Assets reports it as ordinary income. If you choose to Allow Revaluation, specify revaluation rules: Retire Revaluation Reserve Check this check box to retire revaluation reserve. Amortize Revaluation Reserve Check this check box to allow revaluation reserve to be amortized in this book.
Revalue Fully Reserved Assets Check this check box to revalue fully reserved assets.