R 12 Fixed Assets

ORACLE
R 12 - FIXED ASSETS
Introduction:
Fixed Assets is a standalone application.

This will come at SOB/PL level.
Key Flex Fields in Fixed Assets:

1. Category KFF
2. Asset Location KFF
3. Asset Key KFF
We can create only one structure by using the above KFF
Based on the asset life we have to create Fiscal Calendar. For example
1976 to 2030.
Depreciation calendar is used to calculate depreciation.
Prorate convention calendar is used to prorate the depreciation from
which date to which date we have to consider.
Mass additions: Process of transferring fixed assets related data from
Accounts Payables to Fixed Assets is called Mass additions. After
transferring data from AP, data will store in interface tables.
AP -- FA Mass additions interface tables ---- FA
The data which is there in FA Mass additions interface tables we can
see from FA application.
If you want to convert the invoices information to Assets, we can add
necessary data at interface tables, then the data will store in FA base
tables.
For Quick addition of Assets, only basic information is required.
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For detailed additions: list of information is required like: Asset
category, Asset name, cost of asset and depreciation of Asset.
Depreciation calculation is in 3 methods:
1. Straight line method
2. Diminition method
3. Production based
Straight line method: We will set a fixed amount for a fixed period as
depreciation. For example: Asset cost 1 Lac, asset life 5 years, so
depreciation per year 1 Lac / 5 = 20000
Diminition method: depreciation will be calculated on written down
value of asset.
For example:
Year 1
Asset value
Depreciation 10%
Balance
500000
50000
450000
Year 2
Depreciation 10%
Balance
45000
405000
Year 3
Depreciation 10%
Balance
40500
355000
Production base: Depreciation will be calculated on the production

units
Asset transfer can be done between Locations, Employees, and

Accounts.
Asset Changes: through this changes we can change the:
- Depreciation
- Prorate Convention
- Cost Adjustment
- Life time of Assets
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Asset reclassification is used to reclassify the assets from one category
to another category.
Projection: Through the projections we can have an idea of the future
depreciation. We can see the depreciation of a asset for the future
period also.
What if analysis: with if analysis we can analyze the differences
between two different depreciation methods.
Over ride depreciation:
Example: A plant is running in 2 shifts in
a month producing 2000 units. If one month they used the plant per
day 3 shifts then the production is 3000 units. As per the regular
calculation system will consider depreciation only for 2000 units.
But if you want to consider depreciation for 3000 units we have to over
ride the depreciation. Over ride the depreciation where there is
unplanned activity takes place. System will consider first over ride
depreciation and then original depreciation.
Retirement: For every asset there will be a useful life of period. Once
this period completed every asset should me retired. Some other
reasons for retirement: Sale of Asset, Theft, Life of asset and Damage
of asset.
Roll back depreciation: If we run the depreciation without period
close, then we cannot make any modifications. Then if we want to do
any modifications we have to do Roll back depreciation.
Calendars: FA depreciation calendar & GL Accounting Calendar.
While transferring the information from FA to GL, the period name
should be same in the both calendars; otherwise data cannot be
transferred.
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Types of Books:
In Fixed Assets we have 3 types of books:
1. Corporate Book
2. Tax Book
3. Budget Book
Corporate Book:
This is also called Depreciation book, Asset book and Asset Register.
Corporate book is used to maintain the Asset information and to
maintain Depreciation information.
Depreciation information will be maintained by following The
Companies Act.
Tax Book:
We will maintain the depreciation information by following the Income
tax Act.
We will copy the Asset information from the corporate book to Tax
book.
We maintain companies Act and IT Act for depreciation, if the % of
depreciation is different for companies act and IT act.
Budget book:
We will maintain capital Budget information.
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The Asset information also required in the tax book.
It is an automatic activity
We will copy the asset information from the corporate book to the tax
book.
We have 2 options to copy the information:
1. Initial mass copy
2. Periodic mass copy
Type of Assets:
Assets are again 3 types as per Fixed Assets
1. Capitalized
2. CIP
3. Group Assets
Capitalized: Which Asset is started for using and Assets placed for service.
CIP: Construction in process: An asset which is under construction, for
example building under construction. CIP asset will changed to capitalized
when it starts service.
Group Assets: Grouping the assets related to same group.
Accumulated Depreciation: Total depreciation from beginning of the

asset to till date.
YTD depreciation: For particular year
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Depreciation: For particular period.
Physical Inventory: Process of verification assets information in the

Oracle system with the Physical assets.
Split: Split is dividing the Assets into individual units of assets.

Example:
We purchased 5 plants at a time for Rs 5 Lakhs. We received only one
invoice for all the plants. We enter this invoice through Accounts
payables. Now we are sending this information to FA through Mass
Additions. Now we want that 5 plants information differently. So we
will split that into 5 plants.
Merge: Merge is a process of adding multiple assets to a single Asset.

Example:
We have one asset like Computer.
Now we are purchasing first monitor and then CPU.
Now we are having 2 invoices I AP.
Now this will be transfer to FA through Mass addition.
These two invoices should be merged because they are single Asset.
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Define Fixed Assets Responsibility
Navigation:
System Administrator
Security Responsibility Define
Application:
Assets
Data Group:
Standard Assets
Menu:
FA _ Main
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Request Group:
All Reports - Assets
Assign Profile options to Assets Responsibility
Navigation:
System Administrator
Profile System
Profile
1.
2.
3.
4.
5.
HR: Business Group

HR: Security Profile
HR: User Type
GL Ledger Name
MO: Operating unit
Responsibility
BG
BG
HR: User
Ledger
OU
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Key Flex Fields in Fixed Assets
KFF in FA - 3
Category KFF
Asset Location KFF
Major category
Minor Category
Country
State
City
Building
Major Category FFQ
Minor Category FFQ
State Segment FFQ
Asset key KFF
Category KFF and Asset Location KFF are mandatory

We can create only one structure by using above KFF
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I. Category Flex Field:
Category Flex field is used to categorize the assets.
It is mandatory flex field.
We can define minimum 2 segments and Maximum up to 7 Segments.
One is Major segment another one is Minor Segment.
Navigation:
Fixed Assets
Setup Financials Flex fields Key Segments
Click on Segments
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We have 2 Flex field qualifiers:

1. Major Category FFQ
2. Minor Category FFQ
Click on Flex Field Qualifiers
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Compile Category Flex Field structure
Category Flex Field structure will store FA _ Categories _ B _ KFV

Ensure program completed Normal
II. Location Flex Field:

It is mandatory flex field which is used to track assets are located in which
place and to identify what are all assets located in a particular place.
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We cannot define new location structure, we can use standard one available.
We can add up to 7 segments.
Navigation:
Fixed Assets
Unfreeze your flex field definition

Click on Segments
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Choose State segment

Click on Flex Field Qualifiers
We have only one FFQ: State Segment FFQ.
Enable state segment flex field qualifier

Compile Location Structure
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Say OK
Definition will store FA _ Location _ KFV
Ensure concurrent program completed normal.
III. Asset key Flex Field:
It is optional Flex field, which is used to group the Assets based on the
Organization requirement.
We cannot define new structure but we can add up to 10 segments.
No FFQ to Asset Key Flex Field Segment
Define Asset Key Flex Field

Navigation:
Fixed Assets
Query Asset key flex field structure
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Unfreeze your structure

Click on Segments
There is no Flex field qualifier here to assign

Freeze Flex field definition
Compile
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Definition will store at FA _ Asset _ Keywords _ KFV

Ensure program completed normal
Define Segment values
Step: 1
Define Segment values for Category Flex Field
Navigation:
Assets
Setup Financials Flex Fields Key Values
Step: 1.1 Define Major Category Segment values

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Application:
Assets
Title:
Category Flex Field
Structure:
Vision Category Structure
Segment:
Major Category
Click on Find
Say New
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Enter new values for Major Category flex fields

Save your work
Step: 1.2 Define Minor Category Segment values

Application:
Assets
Title:
Category Flex Field
Structure:
Vision Category Structure
Segment:
Minor Category
Independent value:
Choose Major Category value as per step 1.1
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Click on Find button
Enter values for Minor Category

Save your work
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Step: 2
Navigation:
Define Segment values for Location Flex Field

Assets
Step: 2.1 Define Country Segment values

Application:
Assets
Title:
Location Flex Field
Structure:
Vision Ops Location Flex Field
Segment:
Country
Say Find
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Enter Value for Country Segment

Save.
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Step: 2.2 Define State Segment values
Place cursor on the Title, say view Find to go main menu
Choose segment: State
Say Find
Say New
Enter value for State Segment
Save
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Step: 2.3 Define City Segment values
Choose Segment: City
Say Find
Say New
Enter values for City

Save
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Step: 2.4 Define Building Segment values
Choose Segment: Building
Say Find
Say New
Enter vales for Building
Save.
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Step: 3
Navigation:
Define Asset key flex field segment value

Assets
Application:
Assets
Title:
Asset key flex field
Structure:
Asset key flex field
Segment:
Asset key
Say Find
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Enter values for Asset key

Save
Close this window
Say OK
Ensure concurrent program completed normal
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SYSTEM CONTROLS
Use this form to specify your :

- Company name,
- Asset numbering scheme
- Key Flex field structures
- Oldest date of asset placed in service as 01- Jan- 1850.
Navigation:
Setup Asset System System Controls
Change your enterprise name
No other Changes Required in the Screen
Save.
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FISCAL YEARS
Define Fiscal Year

Navigation:
Setup Asset System Fiscal Years
Enter Name for your Fiscal year
Specify the start and end dates of each fiscal year for a fiscal year
name.
Create fiscal years from the oldest date placed in service through at
least one fiscal year beyond the current fiscal year.
Depreciation will fail if the current fiscal year is the last 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.
Place cursor on from date and press down arrow

System will be creating fiscal years automatically
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Save and close this window.
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ASSET CALENDAR (DEPRECIATION CALENDAR)
Navigation:
Setup Asset System Calendars
Name your Asset Calendar

Choose Fiscal year name
Select Calendar
Enter periods per year
Enter period name
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Notes:
You can set up as many calendars as you need.
Each book you set up requires a depreciation calendar and a prorate

calendar.
The depreciation calendar determines the number of accounting

periods in a fiscal year.
The prorate calendar determines the number of prorate periods in your

fiscal year.
You can use one calendar for multiple depreciation books and as both
the depreciation and prorate calendar for a book.
Period name as per Accounting Calendar in GL should be same as in

the FA otherwise we cannot transfer information from FA to GL.
Specifying the dates for Calendar periods
Your corporate books can share the same calendar.
A tax book can have a different calendar than its associated corporate
book.
The depreciation program uses the prorate calendar to determine the

prorate period which is used to choose the depreciation rate.
You must initially set up all calendar periods from the period
corresponding to the oldest date placed in service to the current
period.
You must set up at least one period before the current period. At the
end of each fiscal year, Oracle Assets automatically sets up the periods
for the next fiscal year.
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PRORATE CONVENTION CALENDAR
Navigation:
Setup Asset system Prorate Conventions
Prorate convention Calendar is used to determine the depreciation

starting date for asset in first year.
Divide the year in to 2 parts and enter from date to dates and enter
each period beginning date as prorated date. (Below 180 days & Above
180 days).
If you enable Depreciate when place in service system will not

consider the dates mentioned in Prorated Calendar.
Name your Prorate convention calendar

Choose fiscal year name
Enter from date and to date
Enter prorate date for depreciation
Save.
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DEPRECIATION METHODS
Reducing or diminishing the asset value periodically based on usage is

called Depreciation.
There are 5 standard depreciation methods in Oracle.

1. Flat
2. Calculated
3. Production
4. Table
5. Formula
1. Define Flat rate depreciation method

Navigation:
Setup Depreciation Methods
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Name depreciation method

Choose method type: Flat
Calculation basis: Cost
Depreciable basis rule: Use recoverable cost
Enable check box:

Depreciate in the year retained
Exclude salvage value
Click on Rates
Enter basic rate and adjusting rate for additional depreciation

Save
2. Define Calculated depreciation = Straight Line method

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Navigation:
Setup Depreciation methods
Enter the Method Name
Choose method type as Calculated
Then system will automatically enable straight line Method.
Calculation Basis : Cost
The calculation basis automatically defaults to Cost (NBV is not valid

for calculated methods)
Enter the number of Years and Months of asset life.
Based on the number of Life years depreciation will be calculated.
3. Define Production depreciation method
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Under this method depreciation will be calculated based on the units
produced.
Navigation:
Setup Depreciation methods
Enter the Method Name
Choose method type as Production
The calculation basis automatically defaults to Cost (NBV is not valid

for units of production methods).
Choose the Exclude Salvage Value check box if you want this method
to exclude the salvage value from the depreciable basis.
Define Production Capacity for machinery

Navigation:
Production Enter
4. Define Formula depreciation method

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Enter Method name

Method type: Formula
Calculation basis: NBV
Select Depreciate in year retired
Enter life years
Go to Formula
Define Formula
Test Formula
Say Calculate
5. Define Table depreciation method

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Name the Method

Method type:
Table
Calculation basis: NBV
Enter Life years and Prorate periods per year

Enter Rates.
ASSET BOOK
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For Assets, Journals will be created based on the asset book.
This Asset book will be associated with the particular Ledger.
Asset book will determine the:

-
Calendar
Accounting Rules
Natural Accounts
Ledger for various Fixed Assets.
Pre requisites to create Asset Book:

-
Specify System Controls
Define Calendars
Set up your Account segment values and combinations
Set up your journal entry formats.
Asset books are 3 Types:

-
Corporate
Tax
Budget
I. Corporate Book:
This is also called Depreciation Book / Asset Book / Asset Register.

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Corporate book is used to maintain Assets information & Depreciation

information.
We will maintain the depreciation information as per The Companies

Act.
II. Tax Book:
We will maintain the depreciation information as per The Income Tax

Act.
We will Copy the Asset information from the Corporate book to Tax
book.
III.
Budget Book:
We will maintain Capital Budget information.
The Asset information is also required from the Tax Book.
It is an automatic activity.
We will copy the asset information from the corporate book to the tax
book.
We have 2 options to copy the information:

1. Initial Mass copy
2. Periodic Mass copy.
Define Asset Book Corporate

Setup Asset System Book Controls
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This window has 3 Tabs:

1.
Calendar
2.
Accounting Rules
3.
Natural Accounts
Enter the name of the book you want to define.

Choose Class as Corporate
Step: 1
Calendar:
Choose your Ledger

Choose your Depreciation Calendar & Prorate Convention Calendar
Choose Fiscal year name & Current fiscal year
Choose Divide Depreciation: Evenly or by days.
Select: Depreciate if retired in the first year
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Save your work

Status: Completed
Step: 2
Accounting Rules
Enable check boxes:
Allow Amortized Changes

** Difference in depreciation of revalued assets
If disable, difference will go to expenses account
If enable, closing balance of asset will distribute to the initial months
depreciation before revaluation of the assets
Allow mass changes (To change for bulk assets)
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Allow Revaluation:
Revalue Accumulated depreciation

Revalue accumulated depreciation
Revalue revaluation reserve
Amortize revaluation reserve
Revalue fully reserved assets
Maximum revaluations: 1
Life extension factor: 1
Natural Accounts:
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Enter the appropriate GL accounts

Enter Account generator defaults: This is a program, will generate other 3
code combinations for the above natural accounts.
Save.
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ASSET CATEGORIES
Setup Asset System Asset Categories
Asset Category is used to group the Assets based on the Depreciation

method and Rate, and also building a relationship with the Asset book.
Category information is common for a group of assets.
Oracle Assets defaults these depreciation rules when you add an asset,
to help you add assets quickly.
The default depreciation rules that you set up for a category also
depend upon the date placed in service ranges you specify.
Pre requisites to set up Asset categories:

Set up Category Flex Field
Set up depreciation Book
Setup Depreciation Calendar & Prorate Convention Calendar
Setup Depreciation Methods
Category Types: 3
1. Lease
2. Non Lease
3. Lease holds Improvements
Owner ship is 2 types: i) Owned
ii) Leased
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Property Types: 6
1. Personal
2. Residential
3. Real
4. Intangible
5. Property
6. Other
Step: 1
Define Asset Category
Navigation: Setup Asset System Asset Categories
Enter a Category name and Description to identify the asset category

you want to set up.
Category type
Non lease
Ownership :
Owned
Choose Property type & Property class
Enable check boxes:

Enabled
Capitalize
In physical inventory
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Step: 2
Choose appropriate General ledger Accounts
Step: 3
Setup default rules
Choose Depreciation Method & Rate
Choose Prorate Convention Calendar & Retirement Convention

Calendar
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Save
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ASSET ADDITIONS
Creation of assets information in the oracle Assets application is called

Assets additions.
There are 3 types of Asset additions

1. Detailed Addition
2. Quick Addition
3. Mass addition
Type of Assets: 4
1. Expensed
2. Capitalized
3. CIP - Construction in Process
4. Group
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ASSET ADDITIONS DETAILED

Nav: Assets Asset work bench
Step: 1
Create Asset
Click on Additions
Choose:
Description of the Asset
Category (Major & Minor)
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Asset Key
Asset type
Ownership & Bought
Manufacturer details
Say Continue
Step: 2
Books Information
Choose:
Asset book
Asset Cost
Depreciation Method
Prorate Convention Calendar
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Say Continue
Step: 3
Assignments
Enter unit change
Employee name whom to this asset assigned

Expenditure Account (Depreciation)
Location details
Say Done - System will generate asset number.

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Say OK
Difference between: Detailed addition and Quick addition:
As mentioned above for Detailed additions we have to navigate

several windows to enter an asset.
(Additions, Book and Assignments)
Whereas through quick addition button asset information will be

maintained by navigating single window only. Latter detailed
information would be updated.
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ASSET ADDITIONS QUICK
Nav: Assets Asset work bench
Click on Quick Additions

Choose:
Description
Category
Asset type: Capitalized
Supplier Name
Invoice Number
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Book:
Choose Book
Enter Cost
Depreciation method
Depreciation Rate
Prorate Convention
Assignment:
Enter Units
Employee Name
Expenses Account
Location
Say Done
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Query the Asset to enter more details

Assets Asset work bench
Choose Book
Say Find
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RUN DEPRECIATION
Step: 1
Run depreciation program
Nav:
Depreciation Run depreciation
Choose Book name

Enable Close period
Say Run
Ensure Program completed normal
Step: 2
Inquiry the financial transactions
Nav:
Inquiry Financial Information
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Say Find
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Click on Books
Place the cursor on period
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Click on Transactions
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MASS ADDITION OF ASSETS
Mass addition process is used to convert the AP invoice information as a

fixed asset.
Step: 1
Create Standard Invoice in Accounts Payables
Navigation:
Invoices Entry Invoices
Enter all the information as it is for standard invoice

Choose Account as Asset clearing Account in the distribution
*** (Asset clearing Account in the Asset category & Invoice distribution
account should be same)
Place the Cursor on Account field

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Go to Folder Show field
Track as asset
Say OK
Save your work.
Validate, Create accounting from Actions button
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Step: 2
Transfer the data to GL
Navigation View Request

Program Name:
Transfer Journal Entries to GL
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Step: 3
Run Journal Import program from GL
Navigation:
Journal Import Run
Source:
Payables
Choose your Ledger.

System will import AP data as un posted journals
Review unposted journals and post them
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Say Import
Query the AP transactions in GL
Post the Journal Entries
Step: 4
Run mass Additions create in AP
Mass additions create program will run to transfer AP data to FA.

Navigation: View Request
Program Name:
Mass Additions Create
Choose Asset Book
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Say OK
Step: 5
Prepare Mass additions in F.A.

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Navigation:
Mass Additions Prepare mass Additions
Choose your Book
Say Find
say Open
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Change Queue New to :
Post
Invoice number
Choose Asset Category & Location
Go to Asset details
Enter Description
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Say Done
Step: 6
Run Post mass additions program
Navigation:
Mass Additions Post Mass additions
Program Name:
Mass additions post
Parameters:
Choose your asset book and say Submit
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View output
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Step: 7
Query the Asset in the Asset work bench
Navigation:
Choose your asset book and say Find.
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CONVERSION OF CIP TO CAPITALIZE ASSET
Asset which is there under construction is called a CIP Asset.

Step: 1
Create a CIP Asset
Navigation:
Assets Assets work bench
Click on Additions button

Choose Asset type:
CIP
Say Continue
choose your asset book
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Say Continue
Choose expenses account and location
Done
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Step: 2
Convert CIP Asset to Capitalize Asset
Navigation:
Assets Capitalize CIP Assets
Query your CIP Asset and say Capitalize
Say Find
Say Capitalize
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Step: 3
Query the Asset and enter detailed information
Navigation:
Query your Asset
Place the cursor on Asset number say Books

Choose your Asset books
Enter Asset cost details
Say Done.
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ASSET TRANSFER
Asset transfer refers to changes in the assignment of:

-
Employee
Expenses Account
Location
Asset transfer can be done in 2 ways.

1. Individual Asset transfer
2. Mass Asset transfer
ASSET TRANSFER - INDIVIDUAL
Navigation:
Query asset which you wish to transfer
Place cursor on the asset number

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Click on Assignments
Enter -1 in unit change
Enter the unit number and make changes in the below line
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Say OK
Re query your asset number to view changes
ASSET TRANSFER MASS TRANSFER
Mass transfer means: transferring or changing the Group of Asset

information is called Mass Transfer.
Step: 1
Create Mass Transfer
Navigation:
Mass Transactions Transfers
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Choose Asset book

Choose Category
Choose transfer from and Transfer to
Say Preview
Say OK
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System will generate Mass Transaction Number

Go to View Request
Click on View output
You will see the list of assets transferred from to
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Step: 2
Run Final Mass Transfers
Navigation
Mass Transactions Transfer
F11
Query your Mass Transaction number
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Say Run
Say OK
Say OK
Go to View Request
Ensure Mass Transfer program completed normal
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Go to View output
You can see in output, number of Success and number of failures
Step: 3
Query the Assets to view the status
Navigation:
Choose your Asset book

Say Find
Place the cursor on the asset number
Say Assignments
You can see the changes in location
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ASSET CHANGES
Changes can be made to the Assets for the following fields:

-
Asset Cost
Life of the Asset
Depreciation Method and Rate
It can be done in 2 ways:

1. Individual Changes
2. Mass Changes
ASSET CHANGES INDIVIDUAL CHANGES
Step: 1
Query the Asset for which you want to make changes
Navigation:
Key in Asset number in Find window and Say Find
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Place the cursor on the asset number and
Click on Books
Choose Corporate Book and press tab then other fields will displayed
In this window you can make changes

For Example: Depreciation Method change
Choose different Depreciation method
Say Done
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ASSET CHANGES MASS CHANGES
Through Mass changes window we can make changes to group of Assets.

Step: 1
Create mass changes
Navigation:
Mass Transactions Changes
Choose Book
You can select the following for to choose assets:
-
Asset number
Date placed in service
Category
Asset type
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Under changes fields

Choose the fields which you want to make changes that can be:
-
Prorate convention
Depreciation method
Depreciation rate
Bonus rule
Say Preview
Go to View Request
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Go to View output
Step: 2
Run final Mass changes program
Navigation:
Mass Transactions Changes
F11
Query Mass changes transaction number
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Now the Status is Previewed

Say Run
Now Status is changed to Running

Close this window
Go to View Request
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Go to view output
Query mass changes transaction number again to see the status
Now status is completed
Step: 3
Query the assets to check the mass changes result
Navigation:
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ASSET REVALUATION
In Oracle revaluation can be carried out only for the asset cost.
Revaluation can be done in 2 ways:
1. Individual Asset
2. Mass revaluation
REVALUATION INDIVIDUAL ASSET
Step: 1
Query the Asset for which you want to make changes
Navigation:
Key in Asset number in Find window and Say Find
Place the cursor on the asset number and

Click on Books
Choose Corporate Book and press tab then other fields will displayed
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In this window you can make changes

Change the Asset current Cost
Say Done
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REVALUATION MASS ASSETS
Step: 1
Create and Preview revaluation
Navigation:
Mass transactions Revaluations
Choose Book
Enter Comments
Choose Asset category
Enter Revaluation % rate
(You can not choose category and asset number both)

Say preview
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Say OK
Say OK
System generate Mass transaction number

Go to View Request
Ensure Mass revaluation program completed normal
View output
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Step: 2
run final Mass Revaluation
Navigation:
Mass transactions Revaluations
Query mass transaction number
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Say Run
Re query mass transaction number
Status: Completed
Go to view Request to see output
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Step: 3
Query the assets in the Asset work bench to check the revaluation status
Navigation: Assets Assets work bench
Choose Book
Say Find
Place cursor on the asset
Say Books
Choose Book
Press tab
You will see the changed or revalued asset cost. Depreciation also changed
as per the revalued cost of the asset.
RECLASSIFICATION OF ASSETS
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Make changes for Asset Category is called Reclassification. In Oracle

reclassification can be carried out only for Asset Category.
It can be done in 2 ways.
1. Individual Asset reclassification
2. Mass Assets reclassification
RECLASSIFICATION - INDIVIDUAL ASSETS

Query the asset and change the Category
Navigation:
Asset Asset work bench
Query Asset number
Select Asset number
Say Open
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Change the category
Say OK
Say Done
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RECLASSIFICATION - MASS ASSETS
Step: 1
Create Mass Reclassification
Navigation:
Mass transactions Reclassification
Choose Book
Choose category for Assets to re class
Choose new category
Select Copy Category Descriptive Flex Field to new Category
Say Preview
Go to View request
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View output
Step: 2
run Final mass reclassification
Navigation:
Mass transactions Reclassification

Say Run
Go to View request
Step: 3
Query the asset to view re classification
Navigation:

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RETIREMENT OF ASSETS
Removing the asset from service is called Retirement.

Run depreciation before retire an asset.
It can be done in 2 ways: Individual & Mass retirement.
RETIREMENT INDIVIDUAL ASSETS
Navigation:
Select the Assets

Say Retirements
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Choose Book
Choose retirement date
Enter units retired
Cost of retired
Say Done
RETIREMENT MASS ASSETS

We need to run depreciation program as on date before performing
retirement. DO NOT CLOSE PERIOD.
Depreciation Run Depreciation
Step: 1
Create Mass retirement
Navigation:
Mass Transactions Retirements Create and Reinstate
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Choose Book
Enter retire date
Retirement type: Retirement
Go to Retirement Criteria tab
Choose Category
Now Status is New
Say Create
Now Status is Pending

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System generate mass transaction number
Go to View Request
View output
Step: 2
Run final mass retirement
Navigation:
Mass transactions Retirements create and reinstate

Now status is created
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Say Retire
Now status is Pending

Go to View Request
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PROJECTIONS
Navigation:
Depreciation Projections
Choose Calendar
Enter number of periods
Choose Starting period
Choose Books
Say Run
Say OK
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View output
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CALCULATE GAINS AND LOSSES
Navigation:
Depreciation Calculate Gains and losses
Program name: Calculate Gains and Losses
Choose the Asset Book

Say Submit
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View Output
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WHAT IF ANALYSIS
Navigation:
Depreciation What if analysis
Choose Book
Currency: INR
Start period
Number of periods
Category
Say Run
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Say OK

View Output
OVER RIDE DEPRECIATION

Navigation:
Depreciation over Ride
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Choose:
Book
Period
Asset Number
Say New
Choose Book
Asset Number
Period
Depreciation amount
Status: post
Save your work
To view result
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Choose Book
Say Find
PHYSICAL INVENTORY
Navigation:
Physical Inventory Enter
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Say Open
Enter Asset number and description

Choose Location
Enter units
Status: New
Save
Step: 2
Run comparisons
Navigation:
Physical Inventory comparison Run comparisons
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Say Run
Say OK
Step: 3
view comparison
Navigation:
Physical Inventory comparison view
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Say Find
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SPLIT
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Step: 1
Navigation:
Enter one standard invoice in payables

Invoices Entry Invoice
Enter standard invoice with distribution Account as Asset clearing
Step: 2
Run Mass additions create from AP

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Navigation:
View Request
Say Submit
Step: 3
Transfer Journal Entries to GL
Navigation: View request (from AP)
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Say Submit
Step: 4
Prepare mass additions from FA
Navigation: Mass additions Prepare mass additions
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Choose book
Say Find
Select the asset and say open

Go to Asset details tab
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Change the unit numbers to split
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Say Assignments
Enter the unit number

Choose Employee name
Choose Expenses Account
Choose Location
Say Done
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Now Queue status is On Hold

Select the Asset
Say Split
Say OK
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Say OK
Select the Asset which status is on hold
Change the status to post
Choose Category
Choose Description
Say Done
Step: 5
Navigation:
Post Mass Additions

Mass Additions Post Mass Additions
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Choose Book
Say Submit
Step: 6
Navigation:
Query the Asset in Asset work bench

Asset Asset work bench
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TRANSFER TO GL
Step: 1
Run Create Accounting program
Navigation:
Fixed Assets
Create Accounting
Choose book type

Enter end date
Accounting mode: Final
Errors only: No
Transfer to General ledger: Yes
Post in General ledger: No
Include user transaction identifiers: No
Say OK
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Go to View request
Step: 2
Run journal import program in GL
Navigation:
General Ledger
Journals Import Run
Step: 3
Query the journals in the GL
Navigation:
Journals Enter
Choose Ledger
Source: Assets
Say find
Review unposted journals and post the journals.
1. Copy from Corporate book to tax book

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2. Initial mass copy
3. Periodic mass copy
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IMPORTANT REPORTS IN FIXED ASSETS
1. Asset Additions by cost center report

2. Asset transfers report
3. Asset retirement report
4. Asset retirement by cost center report
5. Property Tax report
6. Transaction history report
7. Mass additions posting report
8. Delete mass additions posting report
9. Delete mass additions preview report
10.
Asset reclassification report
11.
Asset by category report
12.
Mass additions validity report
13.
Cost adjustment report
14.
CIP Asset report
15.
CIP capitalization report
16.
Unplanned depreciation
Fixed Asset period closing procedures
1.
2.
Create all transactions (mass additions, retirements etc) before

running the Depreciation Program. Check for the Mass Additions
with the Status of NEW.
Before running the depreciation, Project the depreciation by
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running the Projections. Select the projection calendar, number of
periods, Starting period, the corporate book and click on the Run
button. Total Depreciation for the period will be shown as the
output in the concurrent request output.
3.
Run the depreciation program without closing the period.
4.
Module: Fixed Assets.
5.
Navigation: Depreciation Depreciation. Select the corporate

book and the period. Do Not Check the Check Box Close
Period
6.
Verify The Journal Entry Reserve Report for the calculation of

Depreciation and whether depreciation is calculated for all the
assets. After checking the results go to next step.
7.
Now run the Depreciation program with the check box Close
Period Checked.
8.
Transfer information from fixed assets to General Ledger.

(Module: Fixed Assets. Navigation: Submit RequestCreate
Journal Entries in Fixed Asset. Choose the Corporate Book and
period for parameters as shown below.
9.
This process creates the Journal Entries Automatically in the

General Ledger. Journal import from general Ledger need not be
run both for Primary as well as Reporting Set of Books.
10.
11.
Verify the Unposted Entries in the journal Entry Screen.

Post the journal Entries.
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2.1 Opening / Closing the Period in Fixed Assets:
1.
If the Depreciation is run with the Check Box Close Period
Checked, the period will be closed and the next period will be opened
automatically.
Note: In Fixed Assets, once a period is closed, it cannot be

reopened.
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ORACLE

Fixed Assets is a standalone application.

Key Flex Fields in Fixed Assets:

For Quick addition of Assets, only basic information is required.

Production base: Depreciation will be calculated on the production

Asset transfer can be done between Locations, Employees, and

Example: A plant is running in 2 shifts in

Accumulated Depreciation: Total depreciation from beginning of the

Physical Inventory: Process of verification assets information in the

Split: Split is dividing the Assets into individual units of assets.

Merge: Merge is a process of adding multiple assets to a single Asset.

Define Fixed Assets Responsibility

All Reports - Assets

Assign Profile options to Assets Responsibility

HR: Business Group

Key Flex Fields in Fixed Assets

Asset Location KFF

Major Category FFQ

Minor Category FFQ

State Segment FFQ

Asset key KFF

Category KFF and Asset Location KFF are mandatory

I. Category Flex Field:

Category Flex field is used to categorize the assets.

It is mandatory flex field.

We can define minimum 2 segments and Maximum up to 7 Segments.

One is Major segment another one is Minor Segment.

We have 2 Flex field qualifiers:

Click on Flex Field Qualifiers

Compile Category Flex Field structure

Category Flex Field structure will store FA _ Categories _ B _ KFV

II. Location Flex Field:

Unfreeze your flex field definition

Choose State segment

Enable state segment flex field qualifier

Define Asset Key Flex Field

Query Asset key flex field structure

Unfreeze your structure

There is no Flex field qualifier here to assign

Definition will store at FA _ Asset _ Keywords _ KFV

Define Segment values

Define Segment values for Category Flex Field

Step: 1.1 Define Major Category Segment values

Category Flex Field

Vision Category Structure

Enter new values for Major Category flex fields

Step: 1.2 Define Minor Category Segment values

Category Flex Field

Vision Category Structure

Choose Major Category value as per step 1.1

Click on Find button

Enter values for Minor Category

Define Segment values for Location Flex Field

Step: 2.1 Define Country Segment values

Location Flex Field

Vision Ops Location Flex Field

Enter Value for Country Segment

Place cursor on the Title, say view Find to go main menu

Choose segment: State

Choose Segment: City

Enter values for City

Choose Segment: Building

Define Asset key flex field segment value