purchase asset through po

[harikumarc1981@rediffmail]

if we purchase an asset through po how to record it in assets. any body explanin the process

[walid_azmy]

Hi,

For the purchased fixed asset requisiton choose <span id='hl' style='background-color: yellow'>Expense destination</span id='hl'>.

Inside: Shipment>Distributions><span id='hl' style='background-color: yellow'>Charge Account ? Natural Account segment should be one of the asset clearing accounts defined</span id='hl'>. This is very important because this is the way Oracle Accounts Payable (AP) is recognizing that you are purchasing an asset or not.

When you invoice your purchase order in AP. The matching process will recognize the asset clearing account and when you validate and creating accounting for the purchase order invoice, it will create automatically an asset record in the Oracle Assets module. <span id='hl' style='background-color: yellow'>You will find this asset in the Mass Addition form of Fixed Asset Super User.</span id='hl'>

Special thanks for Rami Kudmani advising on this.

Regards,

Walid

[harikumarc1981@rediffmail]

[quote]Hi,

For the purchased fixed asset requisiton choose <span id='hl' style='background-color: yellow'>Expense destination[/hl].

Inside: Shipment>Distributions><span id='hl' style='background-color: yellow'>Charge Account ? Natural Account segment should be one of the asset clearing accounts defined[/hl]. This is very important because this is the way Oracle Accounts Payable (AP) is recognizing that you are purchasing an asset or not.

When you invoice your purchase order in AP. The matching process will recognize the asset clearing account and when you validate and creating accounting for the purchase order invoice, it will create automatically an asset record in the Oracle Assets module. <span id='hl' style='background-color: yellow'>You will find this asset in the Mass Addition form of Fixed Asset Super User.[/hl]

Special thanks for Rami Kudmani advising on this.

Regards,

Walid

<i><div align="right">Originally posted by walid_azmy

[M123]

Do the following and let me know the progress

Create an asset and apply the @Equipment template.Make sure under costing tab "Costing Enabled and Inventory asset value are unticked" at child organisation level.under physical attributes tab un tick the equipment and under inventory give serial generation as no control,

Then click on the purchasing tab and give the expense account as your asset clearing account. and save.

Then raise a PO and go to distributions under shipments and you will see the asset cleasing account has defaulted instead of the inventory account.

Ragrds,
Migara.