Hi,
Can any one help me the Asset flow cycle process in Oracle Financials.
If any body having documents regarding Asset Flow please sujjest me.
Regards,
Hadi....
FA related Query
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- Location: India
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1) In PURCHASING
Perform PO receiving
Following accounting entry will be generated:
Asset Clearing account ------------Dr.
PO Accrual account ----------------Cr.
2) In PAYABLES (INVOICES)
1.Enter supplier invoice by PO matching.
2.Ensure that ?track as asset? flag is check in the invoice distribution line.
3.Following accounting entry will be generated:
AP Liability account ----------------Cr.
PO Accrual account -----------------Dr.
4.Net accounting effect will be as follows:
Asset clearing account ---------------Dr.
AP Liability account -----------------Cr.
5.Transfer the invoice to general ledger
6.Run mass additions create program
3) In FIXED ASSETS
1.Prepare mass additions in FA
Enter following additional information for a fixed asset that need to be created:
Asset Number
Employee assignment
Location
Category, if this needs to be modified
Asset key flexfield
2. Post mass additions
Following accounting entry will be generated;
Asset cost account -------------Dr.
Asset clearing account --------Cr.
3.Net accounting effect will be as follows:
Asset cost account -------------Dr.
AP Liability account ----------Cr.
4.Delete unwanted mass additions
Following mass additions will require deletion:
Assets which have been manually entered in FA will also form part of mass additions when this program is run for the first time. In order to avoid duplication of such assets these will have to be deleted from mass additions interface tables.
4)In PAYABLES (Payment)
1.When payment is made against the invoice created earlier, following accounting entry will be generated;
AP Liability account ----------------Dr.
Bank account ------------------------Cr.
2.Net accounting effect after payment will be as follows:
Asset cost account ------------------Dr.
Bank account ------------------------Cr.
1) In PURCHASING
Perform PO receiving
Following accounting entry will be generated:
Asset Clearing account ------------Dr.
PO Accrual account ----------------Cr.
2) In PAYABLES (INVOICES)
1.Enter supplier invoice by PO matching.
2.Ensure that ?track as asset? flag is check in the invoice distribution line.
3.Following accounting entry will be generated:
AP Liability account ----------------Cr.
PO Accrual account -----------------Dr.
4.Net accounting effect will be as follows:
Asset clearing account ---------------Dr.
AP Liability account -----------------Cr.
5.Transfer the invoice to general ledger
6.Run mass additions create program
3) In FIXED ASSETS
1.Prepare mass additions in FA
Enter following additional information for a fixed asset that need to be created:
Asset Number
Employee assignment
Location
Category, if this needs to be modified
Asset key flexfield
2. Post mass additions
Following accounting entry will be generated;
Asset cost account -------------Dr.
Asset clearing account --------Cr.
3.Net accounting effect will be as follows:
Asset cost account -------------Dr.
AP Liability account ----------Cr.
4.Delete unwanted mass additions
Following mass additions will require deletion:
Assets which have been manually entered in FA will also form part of mass additions when this program is run for the first time. In order to avoid duplication of such assets these will have to be deleted from mass additions interface tables.
4)In PAYABLES (Payment)
1.When payment is made against the invoice created earlier, following accounting entry will be generated;
AP Liability account ----------------Dr.
Bank account ------------------------Cr.
2.Net accounting effect after payment will be as follows:
Asset cost account ------------------Dr.
Bank account ------------------------Cr.
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