FIXED ASSET WRONGLY BOOKED TO THE EXPENSE ACCOUNT

This forum is to discuss different features/issues of Oracle Financials modules ( GL - General Ledger, AP - Accounts Payable, AR - Accounts Receivable, FA - Fixed Assets & CM - Cash Management ).
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viswanadas
Posts: 6
Joined: Tue Nov 25, 2008 6:22 am
Location: India

FIXED ASSET WRONGLY BOOKED TO THE EXPENSE ACCOUNT

Post by viswanadas »

Hi,

We process an asset invoice and book it on an expense account instead of the asset clearing account. This invoice is already paid and we cannot cancel it so we can reprocess it correctly.

and we are not using "mass addition create functionality".


Please help me how to reprocess or book it to correct account.

Thanks,
viswa.
pinnashanmukh
Posts: 49
Joined: Thu Feb 15, 2007 5:57 am
Location: India

Post by pinnashanmukh »

Hi,

Allow adjustment to paid invoice payable option will help you to modify the distribution account

Just reverse the Invoice distribution and select the correct asset clearing account

Validate and account it.

In FA as you mentioned Mass additions create program is not used, no process change required in FA, as Asset you would have already added manually or through ADI

Hope this answers your question

thanks,
Shanmukh
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