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Fixed Asset Transfer to GL

Posted on December 1st, 2008 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

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dgreybarrow How Fixed Assets (FA) Passes Journals To General Ledger (GL)

Before 11.5.9 and Fixed Assets patchset M (11i.FA.M), Journals created by the Create Journals process in FA were entered directly to the journal tables. For some time it was possible to have different period names between the two ledgers and change them using the General Ledger Change Periods feature.

Financials Family pack G or higher all journals to be passed from FA through the gl_interface table using the standard import mechanism (GLLEZL). Initially the import had to be launched from GL separately.Check out old post for R12 SLA Changes.

dgreybarrowHow to generate FA journal entries and transfer to GL?

Oracle FA GL TransferIn FA module, the journals should be generated after asset addition, depreciation,revaluation, adjustment, transfer, and retirement. It is suggested that in end of each month, after run depreciation and close FA module, user should generate journal entries and transfer to GL module.

1. Login to system and switch to FA responsibility, select Other -> Request -> Run, select “Single Request”, click “OK” button.
2. In “Submit Request” form, input “Create Journal Entries” in name field.
3.Input or select the book and period that you want to generate journals entries

dgreybarrow How and what FA Populates into GL

These are the columns which are used for capturing the information from FA to GL.

Convention :GL_INTERFACE table column (GL_LINES table COLUMN) :FA REFERENCE

  • REFERENCE21(REFERENCE_1):TRANSACTION_HEADER_ID
  • REFERENCE22(REFERENCE_2):ASSET_ID
  • REFERENCE23(REFERENCE_3):DISTRIBUTION_ID
  • REFERENCE24(REFERENCE_4):ADJUSTMENT_LINE_ID
  • REFERENCE25(REFERENCE_5):BOOK_TYPE_CODE
  • REFERENCE26(REFERENCE_6):PERIOD_COUNTER
  • REFERENCE27(REFERENCE_7):FA_TRANSFER_TO_GL
  • REFERENCE28(REFERENCE_8):ADJUSTMENT_TYPE / LOOKUP_CODE
  • REFERENCE29(REFERENCE_9):CJE_ID

dgreybarrow Journal categories used while FA to GL Transfer

These are the transaction type used for JE creation in GL.

  • Addition
  • Reinstatement
  • Full Retirement
  • Transfer
  • Partial Retirement
  • Adjustment
  • Unit Adjustment
  • Reclass
  • Depreciation
  • Revaluation

dgreybarrowQuery for Subledger Transfer to GL

If you want to get details of different journals transferred to GL, use this to get the result. You can also fine tune with period , currency or clearing company code or Journal Type.

JE GL Transfer

Here is the query:

  1.  
  2. SELECT gjjlv.period_name period_name
  3. , gjb.name batch_name
  4. , gjjlv.header_name Journal_Entry
  5. , gjjlv.je_source Source
  6. , gjjlv.line_entered_dr Entered_Debit
  7. , gjjlv.line_entered_cr Entered_credit
  8. , gjjlv.line_accounted_dr Accounted_Debit
  9. , gjjlv.line_accounted_cr Accounted_Credit
  10. , gjjlv.currency_code Currency
  11. , fasv.TRX_TYPE_NAME Trans_Type
  12. , fasv.TRX_NUMBER_DISPLAYED Transaction_Number
  13. , fasv.TRX_DATE Transaction_Date
  14. , fasv.ASSET_NUMBER Reference
  15. , glcc.CONCATENATED_SEGMENTS
  16. ,gjjlv.created_by
  17. FROM apps.GL_JE_JOURNAL_LINES_V gjjlv
  18. , gl_je_lines gje
  19. , apps.fa_ael_gl_v fasv
  20. , gl_je_headers gjh
  21. , gl_je_batches gjb
  22. , apps.gl_code_combinations_kfv glcc
  23. WHERE gjh.period_name BETWEEN 'SEP-2008' AND 'OCT-2008'
  24. AND glcc.code_combination_id = gje.code_combination_id
  25. AND glcc.code_combination_id = fasv.code_combination_id
  26. AND gjh.JE_BATCH_ID = gjb.JE_BATCH_ID
  27. AND gjh.JE_HEADER_ID = gje.JE_HEADER_ID
  28. AND gjh.period_name = gjb.default_period_name
  29. AND gjh.period_name = gje.period_name
  30. AND gjjlv.period_name = gjh.period_name
  31. AND gjjlv.je_batch_id = gjh.je_batch_id
  32. AND gjjlv.je_header_id = gjh.je_header_id
  33. AND gjjlv.LINE_JE_LINE_NUM = gje.je_line_num
  34. AND gjjlv.je_header_id = fasv.je_header_id
  35. AND glcc.segment1='22'
  36.  

dgreybarrowVerification Report

You can use these Verification Report for your FA and GL monthly Reconcilation.

  1. Cost Detail Report :Use the Cost Detail and Cost Summary reports to reconcile your asset cost accounts to your general ledger to reconcile with Oracle General Ledger, compare the Cost Summary report with the Account Analysis Report.
  2. Asset Retirements Report :Use this report to review the assets you retired for the Book and accounting Period range you choose. The report is sorted by balancing segment, asset type, asset
    account, cost center, and asset number. It prints totals for each cost center, account,asset type, and balancing segment.
  3. Asset Reclassification Reconciliation Report
  4. Asset Transfer Reconciliation Report :Use this report to review asset transfers for the Book and Period you choose. For each transaction Oracle Assets lists the expense account, balancing segment, cost center,and location of the asset before and after the transfer. Oracle Assets sorts the report by
    asset number.
  5. Journal Entry Reserve Ledger Report : This report can be used to review how much depreciation Oracle Assets charged to a depreciation reserve account in an accounting period. The report is sorted by, and prints totals for each balancing segment, asset account, reserve account, and cost center.
  6. CIP Capitalization Report
  7. CIP Assets Report
  8. Unposted Mass Additions Report
  9. CIP Detail Report (If using adding asset through Project)
  10. Asset Addition Report
  11. Cost Adjustment Report

dgreybarrow Important FAQ - that user may ask

1. Are journal entries transferred to the GL in summary or detail format?

Journal entries are summarized to code combination ids within journal categories.

2. Why do I have journal entries for zero dollar amounts (i.e., debit 0, credit 0)?

The expense segment is part of a single distribution row, which also contains the assets owner and location. Changes to any one of these items will result in the creation of a new distribution. If a change is made in the location or owner, journal entries are posted to reflect the new distribution, even though there has been no accounting impact (thus the zero dollar accounting entries).

3. How often can I create journal entries?

You can run the Create Journal Entries program once per accounting period after you run the depreciation program.

4. What happens if I forget to create journal entries for an accounting period? For example, I created journal entries for AUG-08 and OCT-08, but forgot to create journal entries for SEP-08).

Oracle Assets lets you create journal entries for accounting periods in any order as long as you have ran depreciation for the period and the period is open in your general ledger.

5. How do I reconcile Oracle Assets with my general ledger?

Oracle Assets has a set of reports you use to reconcile asset cost, depreciation expense, and depreciation reserve accounts to your general ledger.

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Posted in Oracle Asset | 3 Comments »Email This Post Email This Post | Print This Post Print This Post

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3 Responses
  1. Georog Says:

    Thanks for sharing this info. Great post.

    keep it good work man

  2. FA to GL error Says:

    I have error when i transfer FA TO GL it said that EU02 unbalance error

    pls help me

  3. Laurence Says:

    What journal entries are creted from a fixed asset transfer?

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