We are facing following issue with our Fixed Assets Tax reporting. If someone can point us in right direction, we would really appreciate that
1) We are currently running on Oracle 11.5.10
2) Right now (as of JUN-11), we have 1 consolidated corp book in the system with around 14000 assets in it and no tax books
3) Tax reporting is done from a third party software. Right now we have filed for taxes till 2009. 2010 tax filing is still pending
4) We want to file 2010 taxes by August and we want to do it through Oracle. We are planning to configure tax book in the system so that taxes can be filed
5) The approach would be to create a Tax book with open period as of 2009. Run the Initial Mass copy from corp book to tax book. This would copy everything from corp book to tax book as of Dec-2009. Then depreciate the tax books all through 2010 and run periodic mass copy for every month and we will get the DEC-2010 figure
6) But there is a catch here. As I said that we have all our assets in just one corp book. But that wasn?t the case before Jan-2011. We had around 20 corp books for every legal entity. So all the assets that we have today were lying around in various corp books. We did the consolidation of the assets into one book this January-2011 because all our legal entities were consolidated.
7) Now given this scenario, if we run the Initial Mass copy as described in point 5 to the tax book only those assets from the corp book will be copied to the tax book which existed in this corp book as of DEC-2009. (This is the standard Oracle functionality). This is not the complete list as only few assets were there in this book as of Dec-2009. Rest of them were in different books
Do we have to create tax books for all the corporate books to achieve what we want to achieve or is there a way that multiple corp book data can be copied to one tax book?Please let me know your thoughts
Regards,
Rahul