Fixed Asset

 

Oracle Applications  Applications  Raghu

Monday, 30 March 2009 End to end configuration of Oracle Fixed Assets module Oracle Assets streamlines operations and simplifies the management of  capital investments, investments, automated busine business ss flows, calculate de depreciations, preciations, managing fixed assets cycle and centralized accounting rules. Oracle Assets also integrates with external non oracle systems to complete processing of asset transfers, disposals, reclassifications, financial and tax adjustments, and legacy data conversions. I have produced here end to end configuration of Fixed Assets module.  This module module iis s SOB / Ledge Ledgerr based based.. I have cove covered red eve even n from Sys adm admin in so that users can duplicate and practice to configure entire FA module. Reader should know how to configure GL book / Ledger to practice this. Oracle Assets integrates with Oracle Payables – Automate asset additions as part of the procure-topay process to interface depreciable capitalized assets. Oracle Projects – Track construction-in-process project costs and capitalize them via integration with Oracle Projects. Oracle General Ledger – Central repository ledger to gather accounting and report. Oracle Application Desktop Integrator – Create assets and import physical inventory from spreadsheets.   Steps to configure FA 1 Define responsibility for FA – super user menu Define this from Sys admin responsibility.

 

2 Attach GL book to your FA responsibility Define this from Sys admin responsibility.

 

3 Configure 3 KFF - this is one per instance Define this from Sys admin responsibility.

3 a – Category KFF Always major category and minor category – two segments Always major category – independent validation type Always minor category – dependent validation type

 

Major category Flexfield qualifier

 

Minor category will depend on major category Assets key Flexfield

Location Flexfield

 

4 Define values for major and minor categories Define this from Sys admin responsibility.

Define value for major category

 

Defining values for minor category

5 Asset key Flexfield values Define this from Sys admin responsibility.

 

6 Similarly for location Flexfield values – define values for country, city, state and building Define this from Sys admin responsibility. 7 System control – oneAssets per instance Define this in Oracle module.

Grouping of 3 KFF and defining the assets number logic Define the first automatic FA number and give provision for manual numbering (for data conversion from legacy to Oracle) while configuring the first auto number.

 

7 Define Fiscal year Define this in Oracle Assets module.

Define the year based on the system control year 8 Define FA calendar Define this in Oracle Assets module.  This name name sho should uld be same as GL c calendar alendar name appear appears s in GL calen calendar dar form Attach FA fiscal year defined in earlier step while defining FA calendar Always define at least one period before the first period put into use.

 

8 Prorate convention Define this in Oracle Assets module.  The date date wh when en de depreci preciation ation iis s to be calcu calculated lated

9 Define Corporate book Define this in Oracle Assets module.

 

Defining Assets book – Corporate book

 

10 Define depreciation method Define this in Oracle Assets module.

Oracle by default will have seeded depreciation methods – WDV, formula, STL etc

 

11 Define assets categories Define this in Oracle Assets module.

Attach major and minor categories to our FA book with depreciation method

 

Here we define assets category with – major and min

or categories, link to FA book and depreciation method, attach assets cost, depreciation account and asset clearing accounts.

Attach depreciation

Important points

 

 There is no o open pen and close perio period d in FA – it is ba based sed o on n AP  There are th three ree w ways ays to c create reate a assets ssets in FA – One c create reate invoic invoice e in A AP P and transfer to FA. Second manually create assets in FA and third quick assets creation in FA. However, second and third options are not recommended as we are force to create again invoice manually in AP. Also capital project invoice can be created from PA to FA. Posted by Raghuraman at  at 06:09:00 06:09:00  

2 comments: Arif said... said... Muhammed Arif 

this doc here seems like a setup on 11i I am on R12, trying to setup assets module could you help me in doing so if you got the needful expertise Regards Arif, Muhamme Muhammed d 6 February 2010 01:16 anuj  said... anuj

Hello Muhammed, Did you get the updated version of the FA setup R12. If u have it, can you please help me.  Thanks & Re Regards gards Anuj 27 May 2011 01:09

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