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1 financial Assets

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Financial
R12-1.1










Created By
Khalid youssry







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Send me your comments

The document is written by using oracle E-Business suite 12.1.1
release. Please also suggest if you think any major feature is missing
and you think that should also be part of this document.
You can post your feedback directly on my E-mail address to
khalidyoussry@yahoo.com or khalidyoussry@hotmail.com
Your comments and feedback will be really appreciate.

Thanks very much





















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Preface

Anyone who is interested to learn oracle financials can use this
document for his/her as a basic document. Although the document will
cover most of the features but this is not the whole oracle financials. So
please consider it as a basic or reference document for the beginners.






















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Contents


Overview of oracle assets.5
Assets journal cycle6
Assets integrations.7
Assets setup in APPS.........8
1-Assets flexfield.11
A-Key flexfield12
B-Locations flexfield.15
C-Category flexfield..18
2-System controls22
3-Assets calendars .24
A-Fiscal year25
B-Assets calendar.26
C-Prorate convention28
4-Book controls30
5-Assets category37
Assets transactions in APPS..44
1-Manual addition.44
2-Mass addition53
3-CIP assets..71
4-Adjustment and transactions77
5-Depreciation .95
6-Retirement.102
7-Physical inventory112
8-Assets inquiry117
9-Closed period.120
























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Oracle Assets is a complete asset management solution that maintains
property and equipment accurately to help you select the best accounting and
tax strategies.
Overview of oracle assets:


You can add, transfer, and retire assets.
You can adjust for a single asset, groups of assets, or financial information.
Oracle Assets adapts to various countries' tax and accounting laws to
accommodate fluctuating economies, unplanned depreciation, and other
unforeseen circumstances.
Oracle Assets provides reports that you can use to inform the fixed asset
manager of additions, transfers, retirements, or other unrecorded changes,
ensuring that the asset inventory remains accurate.
At any time, you can print these reports or you can view descriptive or
financial information about the assets online.




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Assets journals cycle:
Dr. Assets clearing (or) CIP clearing
1-Payables:
Cr. Liability

Dr. Liability
Cr. Cash

Dr. F/A
2-Assets:
Cr. Assets clearing

Dr. Depreciation expenses
3-Depreciations
Cr. Accumulated depreciation

Dr. Accumulated depreciation
4-Retirment:
Cr. Cash

Dr.CIP building (CIP cost)
5-CIP:
Cr. CIP clearing

Dr. F/A
Cr. CIP building






Invoice
journal
Payment
journal

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Assets integrations:
Oracle Assets integrates with Oracle Payables, Oracle Projects, and Oracle
General Ledger to provide asset management information. Oracle Assets
uses Supplier information from Oracle Purchasing, Units of Measure and
Items from Oracle Inventory, and Employees from Oracle Human Resources.
It also interfaces directly with the Application Desktop Integrator.

You can use Mass Additions to load into Oracle Assets invoice and asset
information from any feeder system, such as Oracle Payables or another
payables system. You can also import CIP assets from Oracle Projects.

Oracle Assets eases general ledger integration by automatically producing
asset journal entries for the general ledger system.





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Assets setup in apps:
Oracle Assets setup requires a series of steps categorized in the
following manner:
Must be completed in order to run the application. No pre-seeded defaults are
provided.
Required Steps:
Setup functionality that comes with pre-seeded, default values in the
database. You should however, review these defaults and decide whether to
change them to suit your business needs. If you want or need to change
them, you should perform that setup step.
Required Steps With Defaults:
You need to perform Optional steps only if you plan to use the related feature
or complete certain business functions.
Optional Steps:

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Warning: Plan your flexfield carefully. Once you have started entering assets
using the flexfield, you cannot change it.
1-Assets flexfield:




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A-key flexfield:
The asset key flexfield allows you to define asset keys that let you name and
group your assets so you do not need an asset number to find them. The
asset key is similar to the asset category in that it allows you to group assets.
However, the asset key has no financial impact.

The asset key flexfield identifies groups of assets by non financial information.
Note: Oracle Assets allows only one structure for each key flexfield defined
per application install. In other words, the segment structure you define for
each key flexfield will apply to all users and locations of that Oracle Assets
installation.









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(N) Setup >financial >flexfield >key >segments

Enter a name for your structure then click (B) segments

Enter the segment name and select column for this segment then click (B)
open

Enter the information's then click (B) flexfield qualifiers

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Note: the qualifiers is none then click (B) value set

Enter the information's

To add values to key flexfield:
(N) Setup >financial >flexfield >key >values

Select your applications-title-structure and segment to enter values

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Enter the values and descriptions


B-locations flexfield:
The location flexfield allows you to specify and track the exact location of your
assets.
You can report on your assets by location and also transfer assets that share
location information as a group.




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(N) Setup >financial >flexfield >key >segments

Enter a name for your structure then click (B) segments


Enter the segment names and select columns for this segment then click (B)
open

Enter the information's then click (B) flexfield qualifiers

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Note the qualifiers then click (B) value set

Enter the information's
(N) Setup >financial >flexfield >key >values
To add values to locations flexfield:
Select your applications-title-structure and segment to enter values

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Enter the values and descriptions


C-category flexfield:
The asset category flexfield allows you to define asset categories and
subcategories. For example, you can create an asset category for your
computer equipment. You can then create subcategories for personal
computers, terminals, printers, and software.
The asset category flexfield groups assets by financial information.



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(N) Setup >financial >flexfield >key >segments

Enter a name for your structure then click (B) segments

Enter the segment names and select columns for this segment then click (B)
open














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(N) Setup >financial >flexfield >key >values
To add values to category flexfield:

Select your applications-title-structure and segment to enter values

Enter the values and descriptions

Enter the information's then click (B) flexfield qualifiers

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Note the qualifiers then click (B) value set

Note that major category has a validation type independent and minor
category has a validations type dependent.













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2-system controls:
Set up your system controls. You specify your enterprise name, asset
numbering scheme, and key flexfield structures in the System Controls
window. You also specify the oldest date placed in service of your assets.

(N) Setup >asset system >system controls

Enterprise name: Enter the enterprise name as you want it to appear on
reports.

Oldest date placed in service: Enter the Oldest Date Placed in Service,
which controls what dates are valid to place assets in service and on what
date to begin your calendars.


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Note: you cannot place new assets in service before the new date you can
only update the Oldest Date Placed in Service before you assign any
calendars to depreciation books.

Category flexfield: Enter the Category Flexfield structures you want to use.

Location flexfield: Enter the Location Flexfield structures you want to use.

Assets key flexfield: Enter Asset Key Flexfield structures you want to use.

Starting asset number: Enter the Starting Number at which you want Oracle
Assets to begin automatically numbering your assets.






















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3-aseets calendars:










You must first define fiscal years then asset calendars based on those fiscal
years.




Assets
calendars
Fiscal year
calendar
Prorate
conventio

Asset
calendar

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A-fiscal year calendar:
Use the Fiscal Years window to define the beginning and end of each fiscal
year since the start of your company. Your fiscal year groups your accounting
periods. Create fiscal years from the oldest date placed in service through
one fiscal year beyond the current fiscal year. You can set up multiple fiscal
years in this window. You can assign different fiscal years to your different
corporate books. The calendar for a tax book must use the same fiscal year
name as the calendar for the associated tax book.1

(N) Setup >asset system >fiscal year

Fiscal year name: Enter a Fiscal Year Name.


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Descriptions: enter a Description.
Note: You can set up multiple fiscal years with different names and the name
you enter appears in List of Values windows which allow no more than 30
spaces. You may want to limit your name to 30 characters.


B-assets calendar:
Set up as much depreciation and prorate calendars as you need. Calendars
break down your fiscal year into accounting periods. Define your calendars
with as many periods as you need.











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(N) Setup >asset system >assets calendar

Calendar: Enter the name for your Calendar.

Description: enter a description.

Fiscal year name: Enter the Fiscal Year Name you want to use for this
calendar.

Period per year: Enter the number of periods in the fiscal year for this
calendar.

Enter the Name of this period and enter the start and end dates of this
period.
Note: The period name must match to the corresponding GL Calendar
period name (this is case sensitive) or accounting will not transfer to the
General Ledger.













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C-prorate conventions:
Prorate and retirement conventions determine how much depreciation
expense to take in the first and last year of life, based on when you place the
asset in service. Oracle Assets lets you set up as many prorate and
retirement conventions as you need.

(N) Setup >asset system >prorate conventions


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Convention: Enter a Convention name.

Description: enter description name.

Fiscal year name: Enter the Fiscal Year Name for which you want to set up
this convention.

Depreciate when placed in service: 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.
Note: 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.
Another screen shoots down to explain.
Enter date ranges and corresponding prorate dates for assets where the
date Placed in service is between the From Date and the To Date.











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Define asset books to store financial information for a group of assets. You
can set up an unlimited number of independent depreciation books. Each
book has its own set of accounting rules and accounts so you can organize
and implement your fixed assets accounting policies. When you define a tax
or budget book, you must specify an associated corporate book.
4-book controls:















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(N) Setup >asset system >book control

Book: book name.

Class: In the Class field, select Corporate. You can only create group assets
in a corporate book.

(T) Calendar:


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Allow purge: You must check the Allow Purge checkbox in order to purge
information from this asset book. It is recommended that you leave the
checkbox unchecked until you are ready to purge data from the book. You
can then enable the Allow Purge option, purge your data, and then again
disable the checkbox. This helps to ensure against unwanted purges of data
from this book.

Ledger: Enter the ledger for which you want to create journal entries.

Allow GL posting: Enable if you want to create journal entries for this book.
You cannot allow general ledger posting for your budget books.

Depreciation calendar: select your depreciation calendar.

Fiscal year name: select your fiscal year.

Prorate calendar: select your depreciation calendar.

Current period: The Oracle Assets system will update the current period field
each time the current period is closed and the next period is opened. Keep in
mind there can be only one open period at a time for each asset book. You
must set up the depreciation calendar for at least one period before the
current period.

Divide depreciation: Choose the method for dividing the annual depreciation
amount over the periods in your fiscal year for this book.

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Choose evenly to divide depreciation evenly to each period. Choose By Days
to divide it proportionally based on the number of days in each period.

Depreciate if retired in first year: Choose whether to depreciate assets in
this book that is retired in their first year of life.

Last run date: Initially defaults to the current date. Oracle Assets updates
this date when you run depreciation.


(T) Accounting rules:



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Capital gain threshold: 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.

Allow amortized changes: This option does not affect group or member
assets, or Individual assets that previously belonged to a group.

Allow cost sign changes: Check this check box if you want to allow the cost
amount to change from a positive to a negative amount or from a negative to
a positive amount.

Allow mass changes and allow amortized changes: If you want to allow
amortized changes and mass changes in the asset book, make sure these
check boxes are enabled. The default when defining a new asset book has
these checkboxes disabled and it is often overlooked to enabled them when
defining a new asset book.

Allow revaluations: Select Allow Revaluation, if necessary, and specify the
applicable default revaluation rules.

Allow group depreciation: You must check the Allow Group Depreciation
check box before creating group assets in the book.

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Allow CIP members in group assets: If this check box is not checked, you
will not be able to add a CIP asset to a group asset.
Note: Once they Allow CIP Members in Group Assets check box is checked
and saved, you cannot uncheck it.

Allow CIP depreciation in group assets: You must check the Allow CIP
Depreciation in Group Assets check box to depreciate the CIP asset cost for
member assets.

Allow member assets tracking: enable member asset tracking for the
depreciation book. Once the check box is checked and saved, you cannot
uncheck it.

Allow intercompany member asset assignments: You must check the
Allow Intercompany Member Asset Assignments check box if you want to
allow member assets to have balancing segment values that are different
than the balancing segment value of the group asset. If the check box is
unchecked for a particular depreciation book, you cannot set up member
asset tracking for that book.

(T) Natural accounts:


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Account Generator Defaults: By default, Oracle Assets creates journal
entries without cost center level detail for all accounts except the depreciation
expense account. Using the default assignments, it creates journal entries
using the balancing segment from the expense account in the Assignments
window and the account segment from the asset category or book, depending
on the account type. The default Subledger Accounting rules use the other
segments from the default segment values you enter for the book in this field.
















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Asset categories let you define information that is common to all assets in a
category, such as depreciation method and prorate convention. Oracle Assets
uses this information to provide default values to help speed asset entry.
5-assets category:

All assets are required to have an asset category. Asset categories group
assets that share financial accounts and usually depreciate using the same
rules. Oracle Assets uses this information to provide default values at the time
an asset is entered into the system.

You specify general ledger accounts and default depreciation rules for assets
in a category and an asset book. You set up different default depreciation
rules depending on the date placed in service. If an asset book is not
attached to an asset category, you will not be able to add assets assigned to
that category to that asset book.



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(N) Setup >asset system >assets categories

Category and description: Enter a Category name and Description to
identify the asset category you want to set up.

Enabled: Check enabled if you want to use this category.

Capitalized: Check Capitalize if you want to charge items in this category to
an asset account when you pay for them and if you want to depreciate items
in this category.

In physical inventory: Check In Physical Inventory if you want assets in this
category to be included in physical inventory comparisons.

Category type: Choose Lease, Leasehold Improvement, or Non-Lease from
the Category Type Pop list.

Ownership: Choose Owned or Leased from the Ownership pop list.

Property type and property class: Enter the Property Type and Class to
which the assets in this category usually belong.
Note: You set up your Quick Code values for Property Type in the Quick
Codes window. If you have assets in the United States, enter 1245 for
personal property and 1250 for real property.

Book: enter the Book for which you want to set up this asset category.

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Asset cost: Enter the Asset Cost account for this category and book.
Oracle Assets uses this account to reconcile asset costs to your general
ledger. Oracle Assets creates journal entries for this account to reflect
additions, retirements, cost changes, revaluations, transfers, reclassifications,
and capitalizations.

Asset clearing: Enter the Asset Clearing account for this category and book.
Oracle Assets uses this account to reconcile your payables system and
Oracle Assets. For mass additions, it uses the complete Account combination
that comes over with a mass addition line to reconcile the asset addition or
cost adjustment with your payables system.

Depreciation expenses: Enter the general ledger Depreciation Expense
Segment to which you charge depreciation for assets in this category and
book. This is the default value for the account segment of the depreciation
expense account in the Assignment window.

Accumulated depreciation: Enter the Accumulated Depreciation account for
this category and book. This account is the contra-account for the asset cost
account for this category.

Bonus expenses: If you have set up bonus rates, enter the Bonus Expense
account. If you do not enter a value in this field, it defaults to the Depreciation
Expense account.

Bonus reserve: If you have set up bonus rates, enter the Bonus Reserve
account. If you do not enter a value in this field, it defaults to the Accumulated
Depreciation account.

Revaluation reserve: Enter the Revaluation Reserve account for this
category and book. This account is used for the change in net book value due
to revaluation, if you revalue accumulated depreciation.

Revaluation amortization: Enter the Revaluation Amortization account for
this category and book. This account is used to amortize the revaluation
reserve over the remaining life of the asset after you revalue it, if you amortize
revaluation reserve.

CIP cost: Enter the CIP Cost account for this category and book. This
account is used to reconcile CIP asset costs to your general ledger.

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CIP clearing: Enter the CIP Clearing account for this category and book if
you entered a CIP Cost account.

Then click (B) default rules
Note: Enter default depreciation rules for each depreciation book for which
the category is defined.



Placed in service: In the Default Depreciation Rules window, enter the date
Placed in Service range for which these category defaults are effective. When
you add an asset, the depreciation rules default according to the date placed
in service of the asset, the category, and the book.

Depreciate: Check Depreciate if you normally depreciate assets in this book
and category.


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Method: Enter the depreciation Method that you normally use for assets in
this book and category:
Life-based: If you enter a life-based method, you must enter the asset Life in
Years and Months. The method you enter must have the same number of
periods as the prorate calendar for this book.
Flat-rate: If you enter a flat-rate method, you must enter default values for the
Basic Rate and Adjusted Rate that you normally use to depreciate assets in
this book.
Units of production:

If you enter units of production method, you must enter
the unit of measure (UOM) and production Capacity that you normally use to
depreciate assets in this book and category.
Bonus rule: Enter the bonus rule that you normally use for assets in this
book and category. You can use bonus rules for corporate books and tax
books, using all depreciation methods except UOM.

Prorate convention and retirement convention: Enter the Prorate
Convention and Retirement Convention that you normally assign to assets in
this book and category.

Default salvage value: If you chose Use Default Percent from the Salvage
Value pop list. Controls window for this book, you can enter a Default Salvage
Value percentage for this category, book, and range of dates placed in
service.
For example: if you want the salvage value to default to 10% of the cost,
enter 10 in this field. When you perform transactions affecting asset cost,
Oracle Assets uses this default percentage to calculate the salvage value
according to the following formula:
Salvage Value =Cost? Default Percentage

Ceiling: If you are defining this category for a tax book, optionally enter either
a depreciation expense or cost ceiling.

Price index: Enter a Price Index if you want to run reports that use the
revalued asset cost to calculate gains and losses.

Straight Line For Retirements: Check Straight Line for Retirements if you
are setting up an asset category with a 1250 property class in a tax book.
Oracle Assets uses a straight-line depreciation method in determining the
gain or loss resulting from the retirement of 1250 (real) property.
If you check Straight Line for Retirements, enter the straight-line depreciation

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Method and Life you want to use for the Gain from Disposition of 1250
Property Report. This is the default method for your asset in the Retirements
window and in the tax book if you use mass copy.

Use Depreciation Limit: Check the Use Depreciation Limit check box if you
want to depreciate an asset beyond its useful life. You can enter the default
depreciation limit as a percentage or an amount.

USE ITC Ceilings: If you are defining this category for a tax book, indicate
whether assets in this category are eligible for Investment Tax Credit (ITC)
and whether assets in this category Use ITC Ceilings.

Mass Property Eligible: Check the Mass Property Eligible check box if you
want to make assets added to this category eligible for mass property
treatment.

Group Asset: In the Group Asset field, you can enter the group asset to
which all assets added to this category will be assigned. If you enter a group
asset number in this field, all capitalized and CIP assets using this category
will be automatically assigned to the group asset entered.




















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Assets transactions in apps:
You use Quick Additions or Detail Additions to add assets manually. All
assets added to the primary asset book are automatically converted to the
reporting currencies asset books when you save the transaction. Based on
the asset date placed in service, Oracle Assets retrieves an exchange rate to
convert the asset cost and depreciation reserve.
1-Manual addition:


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Quick addition
details Addition











(N) Assets >asset workbench

To enter an asset by quick addition click (B) quick addition and to enter
details click (B) additions









To enter
an asset
manual

Quick
addition
Details
addition

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1-Quick additions:
Use the Quick Additions process to quickly add ordinary assets. When you
enter minimal information in the Quick Additions window, the remaining asset
information defaults from the asset category, asset corporate book, and the
date placed in service.

(N) Assets >assets workbench

Click (B) quick additions

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Enter your asset information click (B) done

Click (B) ok then search about this asset and you will find it





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2-Details additions:
Use the Detail Additions process to manually add complex assets, which the
Quick Additions process does not handle:
-Assets that have a salvage value
-Assets with more than one assignment
-Assets with more than one source line
-Assets to which the category default depreciation rules do not apply
-Subcomponent assets
-Leased assets and leasehold improvements
-Assets assigned to warranties









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(N) Assets >assets workbench

Click (B) additions

Click (B) continue

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Click (B) continue

Click (B) done

Click (B) ok search about this asset and you will find it

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Note:

An invoice for 50,000 was incorrectly charged to telephone expense. To
correctly record the expenditure as an asset, you decide to perform a manual
addition. The journal entry to record the manual addition would be:
DR Asset Cost 50,000

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CR Asset Clearing 50,000

To clear the Asset Clearing account, a manual journal entry would have to be
entered in the General Ledger application as follows:
DR Asset Clearing 50,000
CR Telephone Expense 50,000


2-mass addition:
The mass additions process lets you add new assets or cost adjustments
from other systems to your system automatically without reentering the data.
For example: you can add new assets from invoice lines brought over to
Oracle Assets from Oracle Payables, or from CIP asset lines sent from Oracle
Projects.

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1-the account must be asset clearing.
A-create an asset invoice with this conditions:
2-you must be enabling track as asset.
3-the asset invoice must be payee.
4-the invoice transfer to general ledger.

From payables responsibility (N) invoice >entry > invoices

Enter your invoice header then click (T) lines to enter your invoice lines


Enter amount of you invoice and distribution account
Note: the account must be asset clearing

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Enter a description and check box track as assets
Note: you can also select asset category and asset book.




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Click (B) action to validate your invoice

Select validate then click (B) ok
Condition 1
Condition 2

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Note: we will correct the invoice amount because we have a tax
Click (B) action again to create accounting and pay this invoice


Select pay in full and create accounting then click (B) ok

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Enter your payment information then save your work

Click (B) actions

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Select create accounting then click (B) ok


(T) View >request

Condition 3

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Click (B) submit a new request


Click (B) ok

Enter you request name and your parameters

Click (B) ok
Condition 4

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Click (B) submit

Click (B) find to view your request


Navigate again to requests window to run request (mass addition create)
(T) View >request

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Click (B) submit a new request

Click (B) ok

Enter you request name and your parameters

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Click (B) ok

Click (B) submit and when your request completed normal all assets invoices
will be transferred to fixed assets module and you can search about it in the
mass addition window



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From fixed assets responsibility

(N) Mass additions >prepare mass addition

Looking for invoices by queue-transaction date-asset number..and so
then click (B) find to find it

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Click (B) open to open the invoice

Click queue and select post then chose your category then select you
category-expense account-date in service and depreciation.
Note: you can also change your asset cost in this window

To add an asset details click (T) assets details

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You can add assets number-tag number-serial number .and so then save
your work and click (B) done

Note: the queue will change from new to post

(N) Mass addition >post mass addition


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Enter your parameters then click (B) submit


Click (B) ok and view the request

When your request will be completed normal you can search about your asset
in assets workbench window

(N) Assets >assets workbench


Select your asset book asset numberto find your invoice

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3-CIP assets:
A constructioninprocess (CIP) asset is an asset you construct over a period
of time. You create and maintain your CIP assets as you spend money for
raw materials and labor to construct them. Since a CIP asset is not yet in use,
it does not depreciate. When you finish building the CIP asset, you can place
it in service and begin depreciating it.
You can track CIP assets in Oracle Assets, or you can track detailed
information about your CIP assets in Oracle Projects. If you use Oracle
Projects to track CIP assets, you do not need to track them prior to
capitalization in Oracle Assets.
Create CIP assets using mass additions or manual additions. Oracle Assets
identifies invoices with distributions to CIP clearing accounts in Oracle
Payables, and creates mass additions from them. You can create new CIP
assets from your mass additions, or add them to existing assets. You can
also add noninvoiced expenses, such as labor cost, to your CIP assets.
You can perform transfers or adjustments on your CIP assets if necessary.



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(N) Assets >asset workbench

Click (B) addition

Enter your CIP asset and note assets type
Find your asset after create it

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To add cost for this asset click (B) source lines

Enter your information
Note: the cost of your asset is 0

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Click (B) done

Note:
You capitalize CIP assets when you are ready to place them in service. You
can capitalize or reverse capitalize a single asset or a group of assets.

(N) Assets >Capitalize CIP Assets


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Select you book-asset type and asset number

Click (B) find to find your CIP asset

Enable your line and click (B) capitalize


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Note: your cost will be 1000

(N) Assets >assets workbench window and search about your asset

You will find your asset with status capitalize













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4-Assets adjustment:
You adjust an asset by reclassifying, changing the number of units, adjusting
the financial information, or performing a mass change.
These adjustments are automatically reflected in the reporting currencies
asset books. All cost adjustments use the daily exchange rate based on the
transaction date entered during adjustment. Oracle Assets calculates new
weighted average rate for the asset.


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You assign an asset to a new category in the Asset Details window to update
information, correct data entry errors, and consolidate categories.
A-Reclassifying an Asset:
-When you reclassify an asset in a period after the period you entered it,
Oracle Assets creates journal entries to transfer the cost and accumulated
depreciation to the asset cost and accumulated depreciation accounts of the
new asset category. This occurs when you create journal entries for your
general ledger.
-Reclassification does not redefault the depreciation rules to the default rules
from the new category. Manually change the depreciation rules in the Books
or Mass Change windows if necessary.





Reclassification
Single
reclassificatio

Mass
reclassificatio


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(N) Assets >Asset Workbench

Click (B) find to find your asset and create your single asset reclassification

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Click (B) to open asset category window information

And so you can reclassification a single asset from category to another

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You can reclassify a group of assets using the Mass Reclassifications
window. In addition to reclassifying assets to a new category, when you run
the Mass Reclassification process, you have the option to have assets inherit
the depreciation rules of the new category. If you choose to have the
reclassified assets inherit depreciation rules, you can also choose to either
amortize or expense the resulting depreciation adjustments.
Restrictions:
-Reclassification is done at the asset level. If an asset cannot be reclassified
in one book, the asset will not be reclassified in any of the books to which it
belongs.
-You cannot reclassify an asset in a prior period.

(N) Mass transactions >reclassifications

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-Find the assets you want to reclassify.
-Specify the corporate book on which you want to run reclassification.
-Optionally specify other asset selection criteria in the following fields:
Asset Type-Expense Accounts-Location-Group Asset-Employee Name-
Employee Number-Category -Asset Key-Cost Range-Asset Numbers and
Dates in Service.
- Enter the new category.

Copy category descriptive flexfield to new category: Specify if you want
the current category descriptive flexfield information copied to the new
category.
If you do not choose to copy the flexfield information, the current category
Descriptive flexfield information will be deleted.

Inherit description rules of new category: Specify whether to inherit the
depreciation rules of the new category. If you choose to inherit the
depreciation rules of the new category, specify whether to amortize the
changes.

Click (B) Preview to run the Mass Reclassification Preview report.

Query the Mass Transaction number and choose Run to submit the Mass
Reclassification concurrent process.

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You change the number of units for an asset in the Asset Details window
which will then take you to the Assignments widow to update the distribution
and assignment information.
B-Adjusting Asset Units:

(N) Assets >Asset Workbench

Enter your asset information then click (B) find

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Click (B) open

Change the number of Units then click (B) done


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Enter unit change then click (B) done


Click (B) ok

Find your asset notice the unit's status

You adjust the financial information in the Books window to correct an error,
update the financial and depreciation data, and expense or amortize the
adjustment following the period in which you added the asset.
C-Adjusting Financial Information:










Adjusting financial
information
From assets
workbench
From mass
changes


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(N) Assets >Asset Workbench

Enter your asset information then click (B) find

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Click (B) book

Enter your book name

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Now you can adjust your asset financial information then click (B) done



(N) Mass Transactions >Changes
Sometimes a change applies to more than one asset. This can be a change
in the prorate convention, the depreciation method, or the life, rates, capacity,
and unit of measure for the method. For example, tax laws for a group of
assets may change. If you enable Mass Change for the specified book, you
can make expensed adjustments to financial information for a group of
assets.

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You transfer an asset when there are changes in asset assignments
(Employee, Depreciation Expense Account, and Location) to help you
maintain accurate asset inventory. You use the Assignments window in the
Asset Workbench to transfer assets from one assignment to another within a
corporate book.
D-Transferring an Asset:














Assets transfer
Single assets
transfer
Mass assets
transfer

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(N) Assets >Asset Workbench

Enter your asset information then click (B) find

Click (B) assignment

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In the Unit Change field of the Assignments window, enter a negative number
for the assignment line from which you want to transfer the asset.

Enter a positive number if you want to add units to existing assignments or
create new assignments. Only one negative line is allowed per transaction.
Then click (B) done

Note:
You can transfer assets between employees, depreciation expense accounts,
and locations. When transferring assets,
-You can change the transfer date to a date in a prior period for a particular
transfer, but the transfer must occur within the current fiscal year.
you should consider the
following:
You can change the transfer date of an asset to a prior period only once per
asset.
-You cannot transfer an asset to a future period.

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-You cannot transfer an asset after its normal life is completed.
If an asset is transferred from one Depreciation Expense Account to another,
a journal entry may be created.

Note:
Transfer an asset between companies ABC Marketing and XYZ Advertising in
Year 3, Quarter 4. Cost is $4,000, depreciation method is straight-line, and
life is four years.

Oracle Assets creates the following journal entries for the transfer and for the
current period depreciation expense:



ABC Marketing Company:
Dr. Accumulated Depreciation 2,750

Dr. Intercompany Receivables 1,250
Cr. Asset Cost 4,000

Dr. Asset Cost 4,000
XYZ Advertising Company:
Dr. Depreciation Expense 250
Cr. Accumulated Depreciation 3,000
Cr. Intercompany Payables 1,250










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Oracle Assets allows you to transfer multiple assets in one transaction. You
use the Transfer From and Transfer to fields to identify the assets to be
transferred.
You can transfer between expense accounts, locations, and employees and
employee numbers. By selecting any combination of these criteria, you can
further restrict the range of assets to be transferred.
(N) Mass Transactions >Transfers
Select the corporate depreciation Book for the assets you want to transfer.

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-Optionally select a Category to use as a selection criterion for the mass
transfer.
-Optionally update the Transfer Date. You can change the transfer date to a
prior period date. You cannot change the date to a future period date.
-Enter one or more selection criteria for the mass transfer in the Transfer
From and Transfer To fields.
-Select Preview to run the Mass Transfers Preview report. Use this report to
preview the expected effects of the Mass Transfer before you perform it. If
necessary, update the definition and run the preview report again.
-To perform the Mass Transfer, query the mass transfer and select Run.
Oracle Assets submits a concurrent process to perform the transfer.
Note: If you wish to simultaneously run this program in more than one
process to reduce processing time, Oracle Assets can be set up to run this
program in parallel.













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5-depreciation:




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You depreciate assets by using several types of depreciation methods that
Oracle Assets supports. You also create periodic journal entries for each
book to the general ledger. As an asset depreciates, its net book value
approaches the salvage value. Oracle Assets is delivered with many seeded
depreciation methods.
Copyright 2007, Oracle. All rights reserved.
Using the Life-Based Method
Life-Based
Year 1 Year 2 Year 3
60% 30% 10%
Table: Oracle Assets gets the annual depreciation
rate from a rate table.
Calculated: For straightline depreciation, the
depreciation program calculates the annual
depreciation rate by dividing the life (in years)
into one.
A-Life-Based:

-Depreciates the asset cost using an annual depreciation rate.

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-For straight-line depreciation, the annual rate is calculated by dividing the life
(in years) into one.
-For other life-based methods, Oracle Assets takes the annual depreciation
rate from a rate table.
Copyright 2007, Oracle. All rights reserved.
Using the Flat-Rate Method
Flat-Rate 33% 33% 33%
Year 1 Year 2 Year 3
Adjusted rate = Basic rate (1 + Adjusting rate)
Bonus Rule: Depreciation rate = Adjusted rate + Bonus rate
Enter a bonus rule if your country allows additional
depreciation in early years of asset life.
Basic Rate or Adjusted Depreciation Rate:
B-Flat-Rate:

-Depreciates the asset cost or net book value over time using a fixed rate.

Copyright 2007, Oracle. All rights reserved.
Nov
21
Date placed
in service
Prorate
convention
Prorate date
Enter production
amounts
Rate =
Production/Capacity
Depreciation
expense per period
Multiply by
depreciable
basis
Dec
1
Using the Units-of-Production Method
X
C-Units-of-Production:


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-Depreciates the asset cost by actual use or production for each period.

Copyright 2007, Oracle. All rights reserved.
Basic Depreciation Calculation
Apr
15
May
1
Prorate
Convention
FOL Month
Prorate
Calendar
Rate Table
R = 20%
Get
Rate
Multiply by Cost
or Net Book Value
Annual
Depreciation
Depreciation
Expense per
period
Prorate
Period
Depreciation Calendar,
Divide Depreciation
flag, and Depreciate
When Placed in Service
flag
Journal
Entry
Date Placed in
Service
Prorate Date

Basic depreciation calculation:
-Oracle Assets prorates the depreciation taken for an asset in its first fiscal
year of life according to the prorate date.
Prorate Date:
-Oracle Assets calculates the prorate date when you initially enter an asset.
The prorate date is based on the date placed in service and the asset prorate
convention. For example, if you create a following month prorate convention,
the prorate date would be the beginning of the month following the month
placed in service.

UDepreciation Rate:
-Oracle Assets calculates depreciation using either the recoverable cost or
the recoverable net book value as a basis.
-Oracle Assets uses the prorate date to choose a prorate period from the
prorate calendar.
-For tablebased methods, the prorate period and asset age then determine
which rate Oracle Assets selects from the rate table. The depreciation
program calculates asset age from the date placed in service as the number
of fiscal years that you have held the asset.
-Flatrate methods use a fixed rate and do not use a rate table.

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-For tablebased depreciation methods, Oracle Assets uses the depreciation
method and life to determine which rate table to use. Then, it uses the prorate
period and year of life to determine which of the rates in the table to use.
-Flatrate depreciation methods determine the depreciation rate using fixed
rates, including the basic rate, adjusting rate, and bonus rate.

UCalculate Annual Depreciation:
-Calculated and tablebased methods calculate annual depreciation by
multiplying the depreciation rate by the recoverable cost or net book value as
of the beginning of the fiscal year.
-Flatrate methods calculate annual depreciation as the depreciation rate
multiplied by the recoverable cost or net book value, multiplied by the fraction
of year the asset was held.

UAllocate Annual Depreciation across Periods:
-After calculating the annual depreciation amount, Oracle Assets uses your
depreciation calendar, the divide depreciation flag, and the depreciate when
placed in service flag to determine how much of the fiscal year depreciation to
allocate to the period for which you ran depreciation.

USpreading Depreciation across Expense Accounts:
-Finally, Oracle Assets allocates the periodic depreciation to the assignments
you made for the asset. Oracle Assets does this according to the fraction of
the asset units that is assigned to each depreciation expense account in the
Assignments window.


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(N) Depreciation >run depreciation

Select your book-period and click close period check box to open the new
period then click (B) run


Click (B) ok and navigate to view >request to view the out puts

When your request complete with status normal.

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Depreciation rollback restores assets to their state prior to running
depreciation.
For example: you may have outstanding adjustments or transactions that
you need to process for a period. However, you have already run depreciation
for that period.
If the Close Period check box was not checked when you ran depreciation,
depreciation is automatically rolled back when you process transactions on
these assets.
Oracle Assets will automatically rollback depreciation on the selected assets
and allow the transactions to be processed normally.
The assets for which depreciation was rolled back are automatically included
in the next depreciation run.
Depreciation is rolled back automatically by Oracle Assets provided the
following conditions are met:
1-Depreciation has been processed in that period.
2-The period is not closed.




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6-Retirement:
-You retire an asset fully or partially when it is lost, stolen, damaged, sold,
returned, or for any other reason that causes you to stop using it.
-You retire assets by units or cost.
-You perform a mass retirement by retiring a group of assets.
-You perform current and prior period retirements and reinstatements within
the same fiscal year.
-You create journal entries to separate accounts for each component of the
gain or loss.

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Retiring an
asset
Full
retirement
Partial
retirement

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A-Fully retiring:
You fully retire an asset by retiring an entire asset including all of its units and
cost.
When entering the date of the retirement, it must be in the current fiscal year,
and cannot be before any other transaction on the asset.

Oracle Assets lets you use a different prorate convention when you retire an
asset than when you added it. The retirement convention in the Retirements
window and the Mass Retirements window defaults from the retirement
convention you set up in the Asset Categories window.









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(N) Assets >Asset Workbench

Enter your asset information then click (B) find

Click (B) retirements

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Select your book-retire date and cost retired (full or partial) then click (B) done


Click (B) ok Then you must calculate gain and loss

(N) Depreciation >calculate gains and losses

Select you book in the parameters and click (B) ok

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Click (B) submit then view your request

When your request completed normal click (B) view output

If you back to find your asset you will find it with this status




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(N) Assets >assets workbench

Click (B) find

Click (B) book to view the financial information to our retired asset

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Select your book
Note: the current cost will be 00

Note:
-When entering the date of the retirement, it must be in the current fiscal year,
and cannot be before any other transaction on the asset.
-Oracle Assets lets you use a different prorate convention when you retire an
asset than when you added it. The retirement convention in the Retirements
window and the Mass Retirements window defaults from the retirement
convention you set up in the Asset Categories window.
-If you perform a prior period retirement, Oracle Assets backs out the
depreciation expense through the date of retirement. If you reinstate the
asset, Oracle Assets catches up depreciation expense through the end of the
current period.
-You can enter proceeds of sale and cost of removal amounts when you
perform a retirement.











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B-Partial retiring:
You can retire part of an asset by cost or by units in your corporate book.
You cannot perform partial unit retirements in your tax books; you can only
perform cost retirements (partial and full) in your tax books.
The procedure to partially retire an asset is identical to the procedure for fully
retiring the asset. The only difference occurs when you specify the cost or
units to retire.
If you perform multiple partial retirements on an asset within a period, you
must run the Calculate Gains and Losses program between transactions.
Enter the cost to retire.
By Cost:
The cost change will not affect the unit amount. Oracle Assets distributes the
cost retired proportionally across all distribution lines.
Enter whole numbers for the number of units you want to retire.
By Units:
Oracle Assets calculates the cost retired as the fraction of total cost for the
units retired relative to the total number of units.
By Source Line:

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Select Source Lines to navigate to the Source Lines window.
Choose the source line or enter the amount you want to retire.
Select Retire to navigate to the Source Line Retirement window.
Modify the necessary fields.
Note: You cannot modify units retired or cost retired. You must cancel out of
the retirement window before changing the units or cost information. You can
change this information in the Source Lines window. Source Line window
changes are propagated to the Retire window when you navigate to it.




























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7-Physical inventory:
Physical inventory is the process of ensuring that the assets a company has
listed in its production system match the assets it actually has in inventory.
The Physical Inventory feature in Oracle Assets assists you in comparing and
reconciling your physical inventory data. To use the Physical Inventory
feature, you must first take physical inventory of your assets. You need to
include the following information about your assets:
-A unique identifier, which can be either the asset number, tag number, or
serial number.
-The location.
-The number of units.
You can include other information that may make it easier for you to keep
track of the assets you are comparing, such as a description of each asset,
but only the information listed above is required.

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(N) Physical inventory > enter

Named your physical inventory and select start date and end date then click
(B) open.

Enter the physical assets in inventory in this sheet to create a comparison
between what did you see in the inventory and assets in the APPS then save
your work.


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(N) Physical inventory > comparison >run comparison

Select your inventory then click (B) run to run comparison between what did
you see in the inventory and assets in the APPS.

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Click (B) ok

Click (B) ok then view your request

When your request completed with a normal status click (B) view output
Note: you can view your comparison results from (N) Physical inventory >
comparison >view

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Select your inventory-category-assets numberand so then click (B) find

And so you can note that we have change or no from the status










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8-Assets inquiry:













A-inquiry about financial information:
(N) Inquiry >financial information

Select your book and asset number then click (B) find
Assets inquiry
Inquiry
about
Financial
information
Inquiry
about
Transactions
history

Oracle applications R12-1.1 financial Assets

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If you click (B) assignments

If you click (B) book


Oracle applications R12-1.1 financial Assets

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B-inquiry about transaction history:
(N) Inquiry >transaction history

Select your book and asset number and click (B) find








Oracle applications R12-1.1 financial Assets

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9-Closed period:
Oracle Assets creates journal entries for depreciation expense, asset cost,
and other accounts. Oracle Assets automatically creates transaction journal
entries for your general ledger when you run the Create Accounting program
if you check the Create J ournal Entries check box. Otherwise, Oracle Asset
Will not create journal entries and you can run the Transfer J ournal Entries to
GL Assets concurrent program at a later time.
Oracle Assets creates journal entries that summarize the activity for each
account for each transaction type.

Oracle applications R12-1.1 financial Assets

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The Create Accounting Assets concurrent program:
-Creates journal entries for Oracle Assets transactions.
-J ournal entries can be transferred to and posted to General Ledger.
-You can re-run the Transfer J ournal Entries to GL Assets concurrent
program to post journal entries at a later time.
-Submit the process from the Create Accounting Menu.

(N) Create accounting to create your accounting for this book and send them
to G.L.

Enter the parameters then click (B) ok

Oracle applications R12-1.1 financial Assets

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Click (B) submit to submit this request and navigate to view >request to view
the out puts










With my best wishes
Khalid youssry