Fixed Assets

Assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as
land, buildings, and equipment

1. Fixed assets is a sub ledger Application

2. This is works at ledger level

Types of Key Flex Fields (KFF)

1. Asset Category KFF
2. Asset Location KFF
3. Asset Key KFF

Types of Books
1. Corporate Books
2. Tax Books

Roles to be assign for FA

1. Asset Accounting Manager
2. Asset Administrator
3. Asset Accountant
4. GL Accountant
5. GL Accountant Manager Assign Ap Roles for reviewing purpose

Types of Assets In FA
1. Capitalize Assets
2. Expenses Assets
3. CIP Assets (Construction work In progress)
4. Group Assets

Setups
1. Manage Fixed Assets Flex field Value Sets
a. Category (Major, Minor)
b. Location
c. Asset Key
2. Manage Fixed Assets Key Flex field Structure
a. Category
 b. Location
c. Asset Key

3. Manage Key Flex field Structure Instance

a. Category
b. Location
c. Asset Key
4. Create Segment Values for Category , Location and Asset Key KFF
Segment
5. Deploy Flex fields
6. Manage System Controls
7. Manage Fiscal Year Calendar
8. Manage Asset (Depreciation) Calendar
9. Manage Prorate Convention
10. Manage Asset Books (Corporate and Tax)
11. Manage Asset Categories
12. Manage Asset Location
13. Manage Asset Keys (Optional)
14. Manage Depreciation method (Optional)
15. Manage Asset Distribution Sets
16. Manage Prorate Calendar

In FA we have one structure and structure instances that is used to all in the Global Organization, Oracle
facilitate only one structure for each Key Flex field

1. Manage Fixed Assets Flex field Value Sets

1. Category Flex field (major and minor)

We will categories the assets based up on asset nature; we can create minimum 1 and maximum 7

Create value set (Major)

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% value%
 Select Manage Fixed Assets Flex fields Value Sets
 Oracle never Provide seeded value sets in FA, In vision version we have but we will not have in
real time
 Click on + to create value sets
  Give the details and save

 Save and close

Create value set (Minor)

 Go to Setup & Maintenance

 Setup : Financials
 Functional are : Fixed Assets
 Task : %Mana*ge% fixed% value%
 Select Manage Fixed Assets Flex fields Value Sets
 Click on + to create value set
 Give the details and Validation type should be dependent ( if you give the dependent value here
below one box will appear in that give the dependent value)

 Save and close

2. Location Flex field
Here location value sets will define as per client for example Country, State, City and Building.

Create value set (Country)

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% value%
 Select Manage Fixed Assets Flex fields Value Sets
 Click on + to create values sets
 Give the details of value sets

 Save and close

Create value set (State)

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% value%
 Select Manage Fixed Assets Flex fields Value Sets
 Click on + to create values sets
 Give the details of value sets
  Save and Close

Create value set (City)

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% value%
 Select Manage Fixed Assets Flex fields Value Sets
 Click on + to create values sets
 Give the details of value sets

 Save and close

Create value set (Building)

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% value%
 Select Manage Fixed Assets Flex fields Value Sets
 Click on + to create values sets
 Give the details of value sets
  Save and close

3. Key Flex field

It is not mandatory but will do at least one, Max 10 segment and Min 1 segment

Create value set

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% value%
 Select Manage Fixed Assets Flex fields Value Sets
 Click on + to create values sets
 Give the details of value sets

 Save and Close

2. Manage Fixed Assets Key Flex field Structure

1. Category Flex field
Create Category structure
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Query with module or Flexfield name
 Select the Category Flexfield
 Click On Manage Structures
 Click on + to create structure
 Give the structure details and save then you will do the further steps, in real time we should
create only one time but in this vision this is already created by someone

 Click on + to create the segment

 Give the segment details here you can create the Min 1 and Max 7
  Click on + to add the minor segment
 Give the details same as minor category

 Save and close

 Save and close

2. Location Flex field

Create Location structure
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Query with module or Flexfield name
 Select the Location Flexfield
 Click on manage structure

 Give the segment details for state only segment label is mandatory

 Save and close

 Click on + add the state segment

 Save and close

 Click on + icon and do the remaining segments like city, building
  Save and close

 Save and close

3. Key Flex filed

Create Key structure
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Query with module or Flexfield name
 Select the Key Flexfield
 Click on Manage Structure

 Save and close

 Click on + to create structure
 Give the details and save then + icon (creation) of segments will highlight
  Give the details of segments

 Save and close

3. Manage Key Flex field Structure Instance

1. Category Flex filed
Create Category structure instances
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Query with module or Flexfield name
 Select the Category Flexfield
 Click on Manage structure instances
  Click on + to create instances
 Give the details and go to segment instances tab select the segment then click on edit and enable
the require option do for all segments
 Save and close

2. Location Flex filed

Create Location structure instances
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Query with module or Flexfield name
 Select the Location Flexfield

 Click on + to create structure instances

 Give the details and go to segment instances tab select the segment then click on edit and enable
the require option do for all segments
  Save and close

3. Asset Key Flex field

Create Asset key structure instances
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Query with module or Flexfield name
 Select the Asset Key Flexfield

 Click on + icon to crate structure instances

 Give the details and go to segment instances tab select the segment then click on edit and enable
the require option do for all segments
  Save and close

4. Deploy Flexfield
1. Category Flex field
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Select Category Flex field line
 Then click on Deploy Flexfield

 Save and close

2. Location Flex field

 Go to Setup & Maintenance
 Setup : Financials
  Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Select Location Flex field line
 Then click on Deploy Flexfield

 Save and Close

3. Asset Key Flex field

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset%
 Select Manage Fixed Assets Key Flexfiled
 Select Asset key Flex field line
 Then click on Deploy Flexfield

 Save and Close

5. Manage Fixed Assets Flex field Value Sets (Create values)
1. Category Flex field
Create category value set values (Major)
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset %value%
 Select Manage Fixed Assets Flex fields Value Sets
 Query the value sets
 Select the Major category and click on Manage values

 Click on + to create values

 Give the major value details

 Save and close

 Create category value set values (Minor)
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset %value%
 Select Manage Fixed Assets Flex fields Value Sets
 Query the value sets
 Select the Minor category and click on Manage values

 Click on + to create minor values

 Save and Close

2. Location Flex field

Create Location value set values
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset %value%
  Select Manage Fixed Assets Flex fields Value Sets
 Query the value sets
 Select the Location Flex fields (Country) and click on Manage values
 Click on Manage values

 Click on + to create values

 Save and close

 Likewise create the other segments like state, city, Building.

3. Asset Key Flex field

Asset Key value set values
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fixed% asset %value%
 Select Manage Fixed Assets Flex fields Value Sets
 Query the value sets
 Select the Asset key and click on Manage values
  Click on Manage values

 Click on + to create values

 Save and Close

6. Manage System Controls

It controls or works at instance level, System will not create more than one

 Go to Setup & Maintenance

 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% system% controls%
 Select Manage System Controls
 Give the Enterprise name
  Save and close

7. Manage Fiscal Years Calendar

It is one time setup in implementation

 Go to Setup & Maintenance

 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% fiscal% years%
 Select Manage Fiscal Years
 We have fiscal year calendar in GL, still we have to create in FA
 Click on + to create
 Give the details and save it, then + icon will highlight in the Fiscal year tab

 Click on + icon to create calendar

 In fixed assets we should create the calendar beyond one year

 Save and Close

8. Manage Asset (Depreciation) Calendar
The depreciation calendar determines the number of ACCOUNTING periods in a fiscal year i.e. how many
times depreciation will need to be run. You can use one depreciation calendar for multiple depreciation
books and as both the depreciation and prorate calendar for a book. When we are creating depreciation
calendar this naming convention should be same as GL Fiscal year calendar naming convention means
both naming should be same. We never keep the adjustment month in the fixed assets. You can use this
calendar for single corporate book or N number of corporate book for single country or N number of
countries

We can define the asset

1. Daily wise
2. Weekly wise
3. Half Monthly
4. Monthly
5. Quarterly
6. Half yearly
7. Yearly

GL Fiscal Year calendar

 Go to Setup & Maintenance

 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% asset% calendar%
 Select Manage Asset Calendars
 Click on + icon to create calendars
  Give the calendar details and save it then period creation icon will appear

 Click on + icon to create Periods

 Give the details of periods same as GL fiscal year names
 And add the one future year ( As per standard functionality present year shouldn’t be the last
year, oracle always suggesting one additional year for present year for depreciation calculation
purpose)

 Save and close

9. Manage Prorate Convention (Calendar)

The prorate calendar determines the number of PRORATE periods in your fiscal year. It is use full
for depreciation and it is associate with Depreciation Calendar.

 Go to Setup & Maintenance

 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% prorate% conventions%
 Select Manage Prorate Conventions
 Give the details
 Click on + icon to create prorate calendar dates
  If you want to create depreciation for assets for deferent methods like daily , monthly, quarterly
then you have to crate different prorate calendars

 Save and close

10. Manage Asset Books

1. Corporate Book
It can define on the basis of Ledger or Legal entity; we can define multiple corporate books under one
ledger
 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% books%
 Select Manage Books
 Click on + to create book
 Give the details
o If the depreciation is day wise then Divide Depreciation is keep it as By Days
 Go to Accounts Tab and give the details
 Go to the Rules tab and assign the set code as Common set

 Save and Close

2. Tax Book
 Tax book will created for statutory purpose based on the country
 Tax book will created under corporation book
 We can do copy the assets from corporate book to Tax book
 We can create asset directly in Tax book

 Go to Setup & Maintenance

 Setup: Financials
 Functional area: Fixed assets
 Task %manage% books%
 Select Manage Books
 Click on + to create Tax Book give the details
 o If the depreciation is day wise then Divide Depreciation is keep it as By Days
 Go to Accounts Tab and give the details
 Go to the Rules tab and assign the set code as Common set

 Save and close

 Go to Tax tab enable the allow mass copy (it means allow the system to copy the asset from
corporate book to this tax book

 Save and close

11. Manage Asset Categories

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% asset% categories%
 Select Manage Asset Categories
 Click on + to create categories
 We shouldn’t get the values in the LOV because of our own defined structure is in inactive we
shouldn’t enable that because of structure already created in this vision version
 So and query the active structure and add the our values to that structure then under LOV that
values will appear
 Give the category details
 Go to books tab
 Click on + icon to assign book and give the corporate book details
 Go to accounts tab give the default account details for the particular asset

o We shouldn’t give the CIP account details will give only for CIP assets
o Revaluation account will give only for Buildings and premises
o One category assign to number of corporate books and number of countries
o We can add the only one corporation book while creating the category if you want to add the
different book query the category and add the book.
 Go to Default rules tab and give the depreciation and life etc.. details for that particular asset
 o If you give the category as buildings then disable the Depreciation field because buildings and
premises will appreciate not depreciate
 Save and close

12. Manage Asset Location

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% asset% location%
 Select Manage Asset Categories
 Click on + to add the location details

 Save and close

13. Manage Asset Keys (Optional)

 Go to Setup & Maintenance
 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% asset% key%
 Select Manage Asset Keys
 Click on + to assign key set and add the asset key

 Save and close

14. Manage Depreciation method (Optional)
Oracle provided seed depreciation method; we are using the seeded methods.

 Go to Setup & Maintenance

 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% depreciation% methods%
 Select Manage Depreciation Methods
 Click on + icon to creation depreciation methods

 Save and close.

15. Asset distribution sets

It will reduce the time while enter the asset. It is in the assignment tab in asset invoice

 Go to Setup & Maintenance

 Setup : Financials
 Functional are : Fixed Assets
 Task : %Manage% asset% distribution%
 Select Manage Distribution Sets
 Click on + icon to create
 Give the distribution set details

Asset Creation Process

We can create assets in different ways
 1. Mass addition (Po and Non Po based invoice)
2. Additions in FA
3. Spread Sheet or ADFDI process

1. Manual Addition (Without Invoice)

In EBS quick and Additions but hear not like that you can do in the same in one page if you want to do
the quick or addition you can do

 Go to Home
 Click on Fixed assets
 Click on Assets

 Click on Task list and click on Add the asset

 Give the details like Asset type , Category (select the Major and Minor), Cost, Units, Location
and Expenses account (It is default from Asset category)
  If you click the Next Button that is equal to additions means and system will allow to give the
additional information
 If you click the Submit Button that is equal to Quick additions and system create the asset

 Click on Submit

Inquire the assets

 Go to Home
 Click on Fixed assets
 Click on Inquire Assets
 Query with asset category or any one of mandatory field
 Now you can see the asset details and that assets is under witch book
  In inquire mode we can’t edit just we will see
 Close the page

2. Asset creation using spreadsheet/ ADFDI

ADFDI (Application desktop Framework Development Integration)

 Go to Home
 Click on Fixed assets
 Click on Assets
 Click on Task list
 Click on Add asset in
 Give the book and Asset type details

 Click on Go Spread sheet will downloaded

 Open that sheet and give your login credentials
 Give the details like name, depreciation account, clearing account ,Depreciation is yes or no
 Submit the data
 After that we have to check these in the info let
 Click on incomplete then asset will show down
  Go to Actions and click on Edit and Change the status from Queue to Post

 Save and Close

 Click on Ready to Post and select the asset line and click on Post all

 Close the tab

3. Mass Addition process

Have to create asset invoice in the AP that will interface to FA as an asset then prepare with mass addition
then will do the asset transfer

1. In EBS we have Quick addition & Additions

2. In Fusion directly we have additions only
Po Based Mass addition Process (3 Way)
Asset item machinery  Requisition  Request for Quotation (RFQ)  Quotation  Quality Analyst
Purchase Order  Goods Receipt Number (GRN)  Invoice Mass Addition  Prepare Mass
Addition  Post Mass Addition  Asset Installed and ready to use

Accounting entries

Capitalized assets

Till to GRN  No entries

Invoice  Asset clearing DR

Supplier liability CR

Mass Addition  Asset Cost DR

Asset Clearing CR

Expenses Assets

Till Po  No entries

GRN  Asset Clearing DR

Expenses AP Accrual CR

Invoice  Expenses AP Accrual DR

Supplier liability CR

Mass Addition  Asset Cost DR

Asset Clearing CR

Non Po Based Mass addition Process

Create standard invoice in AP

 Go to Home Page
 Click on Accounts Payable
 Select the Invoice
 Go to Task list
 Click on create Invoice
 Give the Header and line(non po invoice) details account is asset clearing account
 How the system will identify this invoice related to Asset (Based on Distribution sets in this set if
you give the Asset clearing account then system automatically identify this is related to assets)
  Validate it and Post to Ledger

Create Mass additions

 Go to Home Page
 Click on Accounts Payable
 Select the Invoice
 Go to Task list
 Click on Create Mass additions
 Give the date and corporate Book (In which book asset will be add)

 Click on Submit Then go to schedule process check the status of this mass additions

Prepare and Post mass additions

 Go to Home Page
 Go to Fixed Assets
 Go to Assets
 See the Info let you can find the Incomplete action under additions , select that then you can see
the asset line
  Select the line and go to Actions and click on Edit
 Change the status form new to post and give the other information like category, depreciation
account and location

 Save the invoice

 Then in the info let That invoice come from incomplete status to Ready to post status
 Click on that in the asset lines prepare all, Post all and Merge options will highlight
 Click on the Post all it means post mass additions, we have another way to post the mass
additions that is Schedule process report is (Post Mass Additions)

Query the asset weather is transferred to FA or not

 Go to Home
 Go to Fixed assets
 Go to Asset Inquiry
  Query with any mandatory field and select the invoice in this line below you can see the details of
the asset
 Go to source line you can see the from where this invoice come

 Close the tab

4. Merge Asset Lines

Will create more than one line in the tables will interface those lines to fixed assets, within FA we
will Merge those lines to create the single asset. Will merge multiple assets lines into one asset
definition

Here we can do merge in different ways

1. One invoice with Multiple lines

2. Multiple invoices with one line

One invoice with multiple lines

 Go to Home
 Go to payables
 Go to invoices
 Click on Task list
 Click on Create invoice
 Give the header information and give the two lines in the line tab
 Validate and Post to Ledger
 Navigation same click on Create Mass addition then
 After Mass addition only In FA Info let invoices will show otherwise not
 Go to Home Page
 Click on Fixed assets
 In the Info let you can see the detail of asset lines
 Select the one line click on merge

 Then set as a parent and

 Select another line click on merge then click on submit.

  If it is on hold then select the line go to actions edit and change he asset status as Posted

 Change the status and give the needed information then Save and close
 Then post the lines

Multiple invoices with one line

 Go to Home
 Go to payables
 Go to invoices
 Click on Task list
 Click on Create invoice
 Give the header information and give the line information like this give the two or more invoices
 Then Click on Create Mass additions
 Go to Home page
 Click on Assets
 In the Info let you can see the incomplete invoice in additions
 Click on Incomplete invoice then below lines will show select one line click on merge
 Do the same as above
 Go and query the assets you can find the merged invoices

Split the Asset/Lines

Split is nothing but split the one line into multiple lines
 Go to Home page and Click on Payable then Go to Invoice
 Task list click on create invoice
 Validate it and account it (Then only mass addition process will run)

 Same navigation go to task list and click create Mass additions

 Click on Submit
 Go to Home Page
 Go to Fixed assets
 Go to Info let and open the incomplete invoice
 Select the invoice and go to actions click on Edit change the status as New to post
 And give the other mandatory information then go to lines change the quantity
 Then go to Info let Click on Ready to Post then invoice will show select the invoice and click on
Split

 Then that invoice has been split into multiple line

 Then If system will hold that invoice just go to actions and change the status as post
 Then Post the Lines, all lines will post
  Close the tab
 Then go to Asset work bench and query the assets you can see the multiple invoices

 Click on Done

Add to asset (Cost Adjustment)

If you want to add the amount to the existing asset this function will use

1. Create the standard invoice validate and post it

2. Run Mass addition program
3. Change the asset cost in fA
 Go to Home Page
 Go to Fixed Assets
 Go to Task List
 Click on Prepare source lines
 Query the Assets
 Select the invoice, go to actions and click on Add to Asset then query the asset which you want to
add it
CIP Asset Creation and capitalization
For CIP assets system will not allow us to create depreciation

1. Manage asset category values

2. Create Asset category (CIP cost CIP clearing cost accounts)
3. Create CIP asset
4. Convert the CIP asset to Capitalized assets

1. Manage asset category values

 Go to Setup & Maintenance
 Setup: Financials
 Functional area: Fixed assets
 Task %manage% assets% values%
 Select Manage Fixed assets Flex field value sets
 Query your COA then select Major values and click on Manage values
 Give the CIP related assets like Buildings, Motors
 Do the same as for Minor values

2. Manage Asset category (CIP cost CIP clearing cost accounts)

 Go to Setup & Maintenance
 Setup: Financials
 Functional area: Fixed assets
 Task %manage% assets% categories%
 Select Manage Asset Categories
 Click on + to build the relation between category and corporate book
 Give the major and minor details then go to the book tab

 Click on + to add the book and go to Accounts sub tab give account details these accounts will
default while entering the mass addition
  Save and close

3. Create CIP asset

 Go to Home page
 Click on Fixed assets
 Select the Assets
 Click on Task List
 Click on Add asset
 Give the details

o If you want to give the cost of the CIP asset we have to give on the source lines
 Click on next to give the other details go to Financial details tab and click on source lines tab give
and click on + to give the amount of the CIP asset

 Click on Submit
4. Convert the CIP asset to Capitalized assets
 Go to Home page
 Click on Fixed assets
 Select the Assets
 Click on Task List
 Click on Capitalize CIP assets
 Query the capitalize asset
 Select the asset line and click on capitalize

 Click on Done
 Go to the asset inquiry and query the Capitalized assets then you can find that

Run the Depreciation

 Go to Home page
 Click on Fixed assets
 Select Invoice
 In Info let we have Depreciation box
 Click on the Box you will get the information
 If you click the Calculate deprecation it will be draft mode if you want to final calculation
depreciation click on Close period under Calculate Depreciation

 Click on Done
We have another way to calculate depreciation

 Go to Home page
 Click on Fixed assets
 Select Invoice
 Click on task list
 Click on Manage All Books
 Here you can see the all books include tax books

 If you click the calculate deprecation means draft mode

 If you click the open close period means final
 Go and query the asset select the asset go down and go to Depreciation tab then you will find the
depreciation

Adjust Assets
From this you can do three things

1. Change financial details (Depreciation, life, method etc...)

2. Transfer source lines (Transfer the amount)
 3. Change category (Change the one category to another)

1. Change financial details (Depreciation, life, method etc...)

This was done in Roll back depreciation concept

2. Transfer source lines (Transfer the amount)

 Go to Home page
 Click on Fixed assets
 Click on Assets
 Go to task list
 Click on adjust assets
 Query the asset which you want to transfer the source line item
 Select the line an click on transfer source lines

 Give the transfer amount and give destination asset and click on transfer

 Give the comment and submit

 Query the asset from work bench then you will see the under transaction after transfer the amount
 Under source line also you can see the details
  Click on Done

3. Reclassification (Change category)

It’s all about changing the asset category, we can change asset category

 Go to Home page
 Click on Fixed assets
 Click on Assets
 Go to task list
 Click on adjust assets
 Query the assets and select the one asset line then Change category tab will highlight
 Click on the Change category

 Give the category names and click on ok

  After go to asset inquiry then you will find the changed asset category

Mass Copy
If you want to do the mass copy we need Tax Book again with in the corporate book in which categories
we have asset the same category we have to map to tax book.

1. Manage Tax Book

2. Assign Corp Book Asset categories to Tax book also
3. Manage asset book access to user (Asset accountant)
4. Copy from corporate book

1. Tax Book
Already done in Setups

2. Assign Corp Book Asset categories to Tax book also

 Go to Setup & Maintenance

 Setup: Financials
 Functional area: Fixed assets
 Task %manage% assets% categories%
 Select Manage Asset Categories
 Query the asset and select that
 Click on Edit and add the tax book to this category
  Give the Default account details ( Same code combination should use as per Corp book) and save
and go to default rules details these details will same or different as per client request

 Save and close

3. Copy from corporate book

 Go to Home page
 Go to Fixed assets
 Go to assets
 Go to task list and click on Manage all books
 Now you can see the tax book then select the corp book and click on Copy from Corporate
  Then we will get one box In that we have current book period this is nothing but periodic mass
copy
 We have two options in EBS also 1. Initial mass copy, 2. Periodic mass copy. In case of periodic
mass copy specific all asset related information you can copy. In case of Initial mass copy you
can perform throw the schedule job process. (Perform Initial mass copy)
 Go and query the assets in asset work bench with tax book

Roll back Depreciation

When we run the draft mode depreciation this Roll back depreciation will work, we will go and just run
the draft mode depreciation for current period and will go and do certain changes to the asset then system
has to roll back the depreciation whatever calculates as a part of draft mode

 Go to fixed asset Info let click on depreciation box then details will show click the calculate
depreciation means draft mode depreciation
 Go to asset inquiry, query the assets and see the depreciation just for knowing purpose
  If you change the any asset depreciation related information changes will effect only if the
depreciation calculated in draft mode if in the final not allowed
 Go to asset work bench click on task list then select adjust assets then query the asset
 Select the line and click on change financial details

 Just change the any financial information like change the life or amount then go back to the asset
and check the depreciation
 Then current year depreciation will not display because depreciation was calculated in draft mode
system automatically roll back the depreciation.

 Click on Done

Asset Retirement
If you want to retire asset with any reason just we perform retire assets, when company asset life is
completed or if it be theft or stolen or sold or wrong installation in books in these reasons we have to
retire the assets. We can do the retirements in units wise or cost wise. In this we have to type of
retirements

1. Basic retirement
2. Mass retirement

Retire types
 1. Unit Base
2. Cost base (Partial or full)

Basic retirement
 Go to Home
 Go to Fixed assets
 Go to assets
 Click on Task bar
 Click on Retire assets
 Query the asset which you want to retire the asset
 Select the asset which you want to retire
 Click on Retire units

 Give the retired units and give the comment

 Click on submit

 Now these asset will not available in the asset work bench
 Save it and post it
Mass retirement
 Go to Home
 Go to Fixed assets
 Go to assets
 Click on Task bar
 Click on Retire assets
 Go to Mass tab
 Query the asset which you want to retire the asset
 Select the asset which you want to retire

Reinstate the asset / undo the retirment

Means cancel the retirement or bring back the asset from retirement. By mistake or any other wrong
information say you retired. We can reinstate or undo the retirement

 Go to Home
 Go to Fixed assets
 Go to assets
 Click on Task bar
 Click on reinstate Assets
 Query the retired assets select the asset and click on Reinstate

 Save it and post it

Asset Transfer
'Asset transfer' is a term used to describe the process of the transfer of the ownership (or leasehold) of
property or land from one party to another.

Asset transfer in two types

1. Basic Transfer
2. Mass Transfer

I want to transfer the asset

1. One Employee to another Employee (No Impact) for account

2. One Location to another Location (No Impact) for account
 3. One Depreciation to New Depreciation account (Huge Impact) for account

Basic Transfer
 Go to Home Page
 Go to Fixed assets
 Click on Assets
 Click on Task list
 Click on Transfer asset
 Query the asset then select the asset
 Click on Transfer Asset

 You can transfer the asset from location to location employee to employee and one depreciation
to another depreciation

 Click on submit then asset transfer

Mass Transfer
 Go to Home Page
 Go to Fixed assets
 Click on Assets
 Click on Task list
 Click on Transfer asset
 Go to Mass tab
How to do the Amortized adjustment
If you enable this amortized under the change financial details, when you change the asset cost on that
day on words system will calculate the depreciation on that amount, otherwise depreciation will calculate
from the date of Service date

 Go to Home page
 Go to Fixed Assets
 Go to Assets
 Go to Go to task list and click on Adjust assets
 Query the assets which you want to change asset cost
 Select the asset and click on Change Financial details
 Enable the amortize option under transaction details

 Click on Submit

How to Delete the Asset lines

Asset line can delete before Post the invoice. You can delete after validation also

 Go to Home page
 Go to Fixed Assets
 Go to Assets
 Go to Go to task list and click on Prepare Source lines
 Query with the new status
 Select the line go to actions and click on Edit
 Change the queue status as Delete
 Save and close
  Save and close
 Then Run the Delete mass addition program

Comparison process form FA to GL, AP to GL

1. Run the Depreciation report
2. Run the “Journal Entry Reserve Ledger” (Lists asset depreciation amounts for the specified period. The report
is sorted by and group totals for each balancing segment, expense account, reserve account, and cost center). It can be
done in period end also. This report depreciation and accumulated depreciation compare with the Depreciation in GL
Trial Balance report
3. In AP we have compare with AP Trial Balance (TB ) GLTB (Compare the AP Liability and
Prepayment)
4. In FA we have compare with Journal entry Reserve ledger  GLTB (Compare the Depreciation)

Standard Reports in FA
1. Asset addition Report (Lists assets added or capitalized during the specified periods. Sorts and totals by balancing
segment, asset type, asset account, cost center, and reserve account)
2. Asset Balances Register (Lists initial costs, current activity, and retirements for a range of assets)
3. Asset category Change Report (Lists all the assets for which the asset category is changed during the specified
period. Sorts and totals by balancing segment, asset account, and asset number)
4. Asset cost Adjustment Report (Lists all the asset cost adjustments from the specified periods. Sorts and totals by
balancing segment, asset type, asset cost account, and cost center)
5. Asset Cost Detailed Report (Lists asset level asset cost account balances. Sorts and totals by balancing segment, asset
cost account, and cost center)
6. Asset Cost and Reserve Report (Lists the asset cost and depreciation reserve balances at the asset level. Sorts and
totals by category, asset type, asset cost account, and cost center)
7. Asset Cost Summary Report (Lists asset cost account summary balances for the specified periods. Sorts and totals by
balancing segment and asset cost account)
8. Asset Register (Prints complete information about an asset for the specified corporate book and for each associated tax
book. Sorts by asset number)
9. Asset Retirement Reports (Lists asset retirements performed during the specified periods. Sorts and totals by
balancing segment, asset type, asset account, and cost center)
 10. Asset Transaction History (Lists all transactions performed on selected assets. The report is sorted by asset number)
11. Create Accounting Program (Creates subledger journal entries for Oracle Fusion Assets. Optionally, post to Oracle
Fusion General Ledger)

Questions

1. Where should we find the scrap sale amount

Asset sale amount will be tracked in AR as a miscellaneous income account
2. Can I create Multiple Tax Books under on Corp Book
Yes we can
3. Can I create Multiple Corp Books under Ledger or Legal entities
Yes we can
4. If Client want two depreciation methods for two different assets means Half year and monthly
depreciation method then what should we do
Yes we can do, we can create two prorate calendars one monthly, one Half yearly

Inter view

GL

1. Security/ cross validation rule

2. Account aliases
3. Translation
4. Revaluation
5. Multi reporting (Reporting ledger)
6. Mass Allocation
7. Auto Post
8. Mandatory accounts
9. What is Qualifiers and types
10. Enterprise structure/ Multi org
11. Payment terms
12. Distribution set
13. Debit memo credit memo