Oracle Applications

Raghu

Monday, 30 March 2009

End to end configuration of Oracle Fixed Assets module

Oracle Assets streamlines operations and simplifies the management of

capital investments, automated business flows, calculate depreciations,
managing fixed assets cycle and centralized accounting rules. Oracle
Assets also integrates with external non oracle systems to complete
processing of asset transfers, disposals, reclassifications, financial and
tax adjustments, and legacy data conversions.
I have produced here end to end configuration of Fixed Assets module.
This module is SOB / Ledger based. I have covered even from Sys admin
so that users can duplicate and practice to configure entire FA module.
Reader should know how to configure GL book / Ledger to practice this.
Oracle Assets integrates with
Oracle Payables – Automate asset additions as part of the procure-to-
pay process to interface depreciable capitalized assets.
Oracle Projects – Track construction-in-process project costs and
capitalize them via integration with Oracle Projects.
Oracle General Ledger – Central repository ledger to gather accounting
and report.
Oracle Application Desktop Integrator – Create assets and import
physical inventory from spreadsheets.

Steps to configure FA
1
Define responsibility for FA – super user menu
Define this from Sys admin responsibility.
2
Attach GL book to your FA responsibility
Define this from Sys admin responsibility.
3
Configure 3 KFF - this is one per instance
Define this from Sys admin responsibility.

3 a – Category KFF
Always major category and minor category – two segments
Always major category – independent validation type
Always minor category – dependent validation type
Major category Flexfield qualifier
Minor category will depend on major category
Assets key Flexfield

Location Flexfield
4
Define values for major and minor categories
Define this from Sys admin responsibility.

Define value for major category

Defining values for minor category

5
Asset key Flexfield values
Define this from Sys admin responsibility.
6
Similarly for location Flexfield values – define values for country, city,
state and building
Define this from Sys admin responsibility.
7
System control – one per instance
Define this in Oracle Assets module.

Grouping of 3 KFF and defining the assets number logic

Define the first automatic FA number and give provision for manual
numbering (for data conversion from legacy to Oracle) while configuring
the first auto number.
7
Define Fiscal year
Define this in Oracle Assets module.

Define the year based on the system control year

8
Define FA calendar
Define this in Oracle Assets module.
This name should be same as GL calendar name appears in GL calendar
form
Attach FA fiscal year defined in earlier step while defining FA calendar
Always define at least one period before the first period put into use.
8
Prorate convention
Define this in Oracle Assets module.
The date when depreciation is to be calculated

9
Define Corporate book
Define this in Oracle Assets module.
Defining Assets book – Corporate book
10
Define depreciation method
Define this in Oracle Assets module.

Oracle by default will have seeded depreciation methods – WDV,

formula, STL etc
11
Define assets categories
Define this in Oracle Assets module.

Attach major and minor categories to our FA book with depreciation

method
Here we define assets category with – major and min

or categories, link to FA book and depreciation method, attach assets

cost, depreciation account and asset clearing accounts.

Attach depreciation

Important points
There is no open and close period in FA – it is based on AP
There are three ways to create assets in FA – One create invoice in AP
and transfer to FA. Second manually create assets in FA and third quick
assets creation in FA. However, second and third options are not
recommended as we are force to create again invoice manually in AP.
Also capital project invoice can be created from PA to FA.

Posted by Raghuraman at 06:09:00

2 comments:

Muhammed Arif said...

this doc here seems like a setup on 11i

I am on R12, trying to setup assets module

could you help me in doing so if you got the needful expertise

Regards
Arif, Muhammed
6 February 2010 01:16

anuj said...
Hello Muhammed,

Did you get the updated version of the FA setup R12.

If u have it, can you please help me.

Thanks & Regards

Anuj
27 May 2011 01:09
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Profile
An independent consultant strong in Oracle E Business Suite 10.7,11.03,11i,R12 and has
over 14 years of consulting experience and delivered projects spread across EMEA &
America based on AIM and Prince2 methodology. Expert in functional, technically
competent and has good finance & accounting (ACCA, ICWA, MBA) background. I have
got rich experience in end to end implementations, rollouts and version upgrade of
Financials, Projects and Supply chain.
Send your email to raghuramanerp@gmail.com

Multi Org
• Defining MOAC (Multi Org Access Control) in R12 Published by Oracle Corp

General Ledger
• Ledget set Vs Data access set in R12
• How to configure GL in R12
• Configuration of GL in 11i
• Intercompany Setup
• Consolidation
• COA change
• Calendar Switch Over
• Configuration of funding budget
• Import Subledger Journals

Advanced Collection
• How to create dispute at invoice level and line level
• Capture Customer invoice dispute and remove the invoice manually in R12

Oracle Project Costing

• PO and AP transactions integration to PA
• Project invoice transferred from AP to PA is not appearing in PA
• Project Invoice from AP to PA

E Business Tax
• How to Create Tax Only Invoice in AP
• Parties tax profile in E Biz Tax

Oracle Project Billing

 • Create revenue and transfer to AR in R12
• Create a budget from Tender or Bid in R12

Oracle HRMS
• Configuration of Oracle HRMS

Oracle Payroll
• Configuration of Oracle Payroll

Oracle Cash Management

• How to do reconciliation at batch level in Cash Management
• Cash Forecasting in R12
• CE Month end checklist

Oracle Fixed Assets

• End to end configuration of Oracle Assets
• Asset invoice transferred from AP to FA

Oracle I Procurement
• Key profile options

Oracle Receivables
• End to End Configuration of AR in R12
• How to add dispute in Aging bucket report
• How to make Manual Refund to Customer in R12
• Accounting rules - Arrear and Advance in R12
• Receivables Month end checklist
• How to find receipt number against particular transaction
• Receipt Accounting
• How to write off small receipt amount

Process Flowchart
• Receivables Receipts and application
• Invoice creation in Receivables
• Reconcile GL entries created in FA
• Assets Mass addition
 • Assets Manual addition
• Assets depreciation
• Bank statement entry
• Bank Reconciliation
• Payables transfer to GL
• Payables payments
• Payables invoice creation
• Budget creations
• Journal Reversal
• Journal Creation

Documentation Methodology
• Documentation Methodology - AIM

SLA FAH AGIS

• Creation of Journal Entry through SLA
• SLA and FAH Flow
• How to configure AGIS

Oracle Purchasing
• How to configure Notification method for Purchase Order document
• How to check requisition number in PO window

Order Management
• Sales Order Pick and Deliver Flow Chart
• Credit or Return Sales Order, Pick and Deliver Advance Replacement

Internet Expenses
• How to Configure DFF for OIE
• Configuration of Internet Expenses

Oracle Payables
• How to Configure Withholding tax – End to End
• How to View or Mask the Supplier Bank Account number
• Payables Month end checklist