ERPstuff - Oracle EBS Community

Dear Friends

One of my clients uploaded 2000 assets 2 years ago as opening asset. By this time they already depreciated the entire assets monthly basis. In addition they procured 500+ new assets. Now they have realized and want to delete all the assets those they have uploaded as opening and newly created. I mean they want to start Fixed Asset newly. How can I do it?

If you have any alternative solution, please help me.

Thanks
Makshud

You need to discard current Assets setup and create new one while in GL manually adjust using JV's (point 5 below). Once FA setup is done you have to upload from start (2 years back) but you may have following challenges,

1 - You will have to open old periods.
2 - Link with AP invoices of new Assets.
3 - Already printed reports (hard copies) I mean audited numbers.
4 - You will have to run depreciation for each old period and close.
5 - Use a clearing account to upload data which can be knocked off with existing GL balances.
6 - Check with your Tax consultants.

If your situation or problem is different to the one explained here then let us know.

Hello Friends

Thanks for your advice. I will present your advice to my clinet management.

THanks
Makshud