How the Penny Cost Adjustment is done in Assets.
Pls. tell me the steps for this.
Thanks in advance.
Amitava
Penny Cost Adjustment
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- Joined: Thu Nov 09, 2006 4:50 pm
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Penny cost Adjustment is a feature in Fixed Asset module which is used to correct the Depreciation computation.
It helps in catching up the depreciation as on date.
It works as below:
Try uploading/creating an Asset with an incorrect Accumulated Depreciation for an Asset
After creation of asset successfully,
Query the asset from the Asset workbench, open the details, and change the cost by adding 0.01 to the existing cost. i.e. if your Asset cost is 10,000 Rs, make it as 10,000.01 Rs, and SAVE it
Now again make the change to 10,000 Rs from 10,000.01, and save your work, now you can see that your Depreciation would have been recomputed based on your DPIS and it would have been compared with your Accumulated Depreciation, any excess or shortfall would be charged in the current month, you can check that excess or shortfall from the financial inquiry.
This is maily useful in case of incorrect depreciation computation through upload process, or change in depreciation method or life or rate etc... and one can find the corrected values for the past periods..... For current period depreciation, one needs to run the depreciation program as usual ...
I came to know about this feature from oracle support, where i messed up data migration of assets in one of my projects .....
It helps in catching up the depreciation as on date.
It works as below:
Try uploading/creating an Asset with an incorrect Accumulated Depreciation for an Asset
After creation of asset successfully,
Query the asset from the Asset workbench, open the details, and change the cost by adding 0.01 to the existing cost. i.e. if your Asset cost is 10,000 Rs, make it as 10,000.01 Rs, and SAVE it
Now again make the change to 10,000 Rs from 10,000.01, and save your work, now you can see that your Depreciation would have been recomputed based on your DPIS and it would have been compared with your Accumulated Depreciation, any excess or shortfall would be charged in the current month, you can check that excess or shortfall from the financial inquiry.
This is maily useful in case of incorrect depreciation computation through upload process, or change in depreciation method or life or rate etc... and one can find the corrected values for the past periods..... For current period depreciation, one needs to run the depreciation program as usual ...
I came to know about this feature from oracle support, where i messed up data migration of assets in one of my projects .....
-
- Posts: 463
- Joined: Thu Nov 09, 2006 4:50 pm
- Location: India
- Contact:
I guess this video from youtube will also help ...
http://www.youtube.com/watch?v=zXG6J0OJZvw
http://www.youtube.com/watch?v=zXG6J0OJZvw
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