Asset Retirement and Reinstatement

[oracleapps1983]

Can any tell me the Reitrment and reinstatement of asset clearly and Its navigation.

Or

Can you send me the screen shots how retire and reinstate assets

Thanks
oracleapps1983@gmail.com

[kkmundhra]

Hi

Asset Retirement:

1.-->Assets-->Assetworkbench
2.Find the asset to be retired
3.Click on "retirements" button.
4.Give the information there i.e books, retire date, cost retired etc.
5.Run the "Calculate Gains and Losses" program to calculae the gain/loss on retirement.

Reinstatement:

1.-->Assets-->Assetworkbench
2.Find the asset to be retired
3.Click on "retirements" button.
4.Query the books to the retirement details.
5.Click on "Reinstate".

You can reinstate the asset in the year in which you retired the asset.

Hope this is clear.

Thanks

Karan

[oracleapps1983]

Thanks and one more thing i need is

When we retire asset again when can i reinitiate the asset with the same month, same year or next year

[kkmundhra]

Hi Oracleapps1983

You can reinstate in the same month & same year but not in next year.

Thanks
Karan

[medo_klc]

Hi,
As I have to customize account generator I have come to notice following:

Without doing customization after reinstating asset in view transaction accounting extra lines are created (unnecessary lines are for each book that we have). Balance is ok, means zero, but problem is that summery is more then it suppose to be
For example:
supose to be
DR:100 CR:100
we are getting
DR:500 CR:500

Is this the way suppose to be?

Sincerely
Medakovic

[kkmundhra]

Hi Medakovic

I did not understand your doubt. Can u please explain the process properly so that i can help you out.

Thanks
Karan

[medo_klc]

hi,

Thanks for prompt reply.

Following is the situation. (I am only developer so pardon me on my ignorance when it comes to functional part)

I got request to change Account Generator (fa_gen_custom_gen_cccid) which I did successfully, when testing reinstatement after running Calculate Gains and Loses when I check Transaction Accounting (Transaction History --> View Accounting in Tools Menu) I did notice taht i am getting more lines then necessary (extra lines for each book and we are using three books:A_tax_book,C_tax_book,C_Trade_book)
At first I thought it was due to my customization, but when checking again on clean instance (without touching any of 4 related profiles (default value) FA:Custom generate CCID, FA: Generate asset(1), book(2), category(4) level account) I am getting again extra lines.

I am cracking my head of the keyboard for last three weeks trying to resolve that problem(even deleting lines from fa_adjustments). Now After seeing it happening on clean instance (copy of PROD) I am wondering is this default behavior or is something related to the set up.

Do you want me to send you print screen via mail?

Thanks
Medo

[AmanKhan]

HI Medo,

I believe that it is the default behavior of the FA module....i know how much it is confusing as FA has the most complex tech. architecture. Right now i don't have any justification for this as i m funky/non-techy but it may be because of audit trial of the transaction but i am sure that there will be not accounting impact of such behavior.

thanks,

Aman

[medo_klc]

Aman,

Thanks for your reply

Medo

[lohit]

The below mentioned imp.process flow only impact on the account when you run the depreciation

[quote]Hi

Asset Retirement:

1.-->Assets-->Assetworkbench
2.Find the asset to be retired
3.Click on "retirements" button.
4.Give the information there i.e books, retire date, cost retired etc.
5.Run the "Calculate Gains and Losses" program to calculae the gain/loss on retirement.

Reinstatement:

1.-->Assets-->Assetworkbench
2.Find the asset to be retired
3.Click on "retirements" button.
4.Query the books to the retirement details.
5.Click on "Reinstate".

You can reinstate the asset in the year in which you retired the asset.

Hope this is clear.

Thanks

Karan



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