Asset Capitalization in Oracle Asset

[ahs_pkh]

Dear All,

What is the procedure to booking Fixed Asset in FA only through Inventory module.

We intigrated with these accounting lines.

Item Received in Inventory Module:

Inventory Account Dr.
AP Clearing Account Cr.

Invoice matached with receipt in AP Module:

AP Clearing Account Dr.
Supplier Liability Account Cr.

Item issued for use from Inventory Module:

Asset Clearing Account Dr.
Inventory Account Cr.


Now we have asset line from Inventory module in "Asset Clearing Account".

Please help how i can import these lines in FA to capitalized the asset or is there any change reuqired in accounting lines.

Kindly help urgently.

AH

[AmanKhan]

HI,

From AP module you will transfer clearing lines to FA Book through Mass Addition create concurrent request and run transfer to GL then In FA module, from Prepare Mass Addition simply enter invoice no and find the invoice lines transferred to FA Book now u will capitalize asset and accounting entry will be:

Asset Cost Dr.
Asset Clearing Cr.

Depriciation entry will be:

Depreciation Expense Dr.
Accumulated Depreciaiton Cr.

Thanks,