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Process Outline –>FA Mass Addition

Posted on October 22nd, 2007 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

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This is brief process outline for Mass addition program in Oracle.

1.Asset Invoice Creation within AP

For assets to be transferred to Assets, it must be approved and posted in the GL and charged the distribution to a clearing account that is already assigned to an asset category or charge directly to the asset cost account.

The track as asset flag will be automatically checked if the accounts have been set up as Asset within the GL.

addition1Invoice can be posted either to the asset clearing account or directly to the asset cost account.

Having a clearing account provides more control particularly if an asset does not get added in the correct period. That would therefore make the reconciliation between GL and FA easier.

Typical steps are herewith:

1. Navigate to the Submit a New Request Window and select REQUEST SET.

2. Select the Mass Additions Create Request Set. This set contains two programs:

  • Mass Additions Create
  • Mass Additions Create Report

 

 

 

2.Mass Addition Create

Following the successful creation of invoice in AP,the Mass Addition Create program is ran from the Account Payables.

Mass Addition Create lets you send Mass Addition lines from Oracle Payables as cost adjustments or as potential new assets. Create Mass Additions sends valid invoice line distributions and associated discounts from Payables to an interface table in Oracle Assets.

The Mass Addition Create process generates a Mass Addition Execution Report which shows the number of records inserted, Invoice ID and the asset account.

We can download the Mass Addition Create Report , it shows assets that have been successfully created from the process which will aid the reconciliation between Asset created and Asset Purchased (entered in AP). The report contains such information as legal entity name, asset account(as indicated on AP) , cost centre (as indicated on AP), Supplier name, Invoice Number & Date, the asset description and the cost of the asset.

Also to ensure that assets created matches assets purchased, if the prepare mass addition form is queried for all assets, a queue name other than POSTED indicates that the asset invoice has not yet been successfully created as an asset on Fixed Asset.

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3.Mass Addition Post

The posting process creates assets from mass addition lines in the POST queue using the data you entered. It also adds mass additions in the COST ADJUSTMENT queue to existing assets. You can run this program as often as you want during a period.

At this state, they become an asset and available on the Asset Workbench. The queue name at this point changes to POSTED .Mass Additions Posting Report FAS824 is the output of this process.

Navigation > Mass Additions > Post Mass Additions

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4.Depreciation & Transfer to GL

Depreciation computations depend on such factors as the type of depreciation (Life, units of production, or flat rate), the depreciation life and the depreciation method.

The asset category specifies a default depreciation method to be used with an asset. You will usually want to set up categories in such a way that you do not need to override the defaults they establish.

Data Flow:

Here is underline data flow diagram based out of the above discussed sub processes.

Addition

 

 

 

 

 

 

 

 

 

 

 

 

 

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Posted in Functional, Oracle Asset, Technical | 2 Comments »Email This Post Email This Post | Print This Post Print This Post

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2 Responses
  1. N. Balaji Says:

    Hi Anand

    I feel this site is very useful for all functional consultants like me. I request you to publish with screen shot of how to add an expensed asset and what is the accounting impact. Does Expensed category asset get transferred to GL? and whether can we capitilize an expensed asset.

  2. ram Says:

    Hi Anand,
    God bless you. Very useful for beginners and a good guide for experts too for day-to-day working.
    The flow diagram (observation: depreciation and projection for depreciation have to be interchanged)
    Descriptive part is good. only flow chart is to be corrected
    thanks a bunch.

    Can you add or email me more details on APIs for oracle assets. There are some details already there.

    You can email them too , if you already have details
    thanks a bunch.
    greatjobs.07@gmail.com
    I need this very urgently

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