Skip to main content

Process Outline –>FA Mass Addition

Process Outline –>FA Mass Addition

This is brief process outline for Mass addition program in Oracle.
1.Asset Invoice Creation within AP
For assets to be transferred to Assets, it must be approved and posted in the GL and charged the distribution to a clearing account that is already assigned to an asset category or charge directly to the asset cost account.
The track as asset flag will be automatically checked if the accounts have been set up as Asset within the GL.
addition1Invoice can be posted either to the asset clearing account or directly to the asset cost account.
Having a clearing account provides more control particularly if an asset does not get added in the correct period. That would therefore make the reconciliation between GL and FA easier.
Typical steps are herewith:
1. Navigate to the Submit a New Request Window and select REQUEST SET.
2. Select the Mass Additions Create Request Set. This set contains two programs:
  • Mass Additions Create
  • Mass Additions Create Report

2.Mass Addition Create
Following the successful creation of invoice in AP,the Mass Addition Create program is ran from the Account Payables.
Mass Addition Create lets you send Mass Addition lines from Oracle Payables as cost adjustments or as potential new assets. Create Mass Additions sends valid invoice line distributions and associated discounts from Payables to an interface table in Oracle Assets.
The Mass Addition Create process generates a Mass Addition Execution Report which shows the number of records inserted, Invoice ID and the asset account.
We can download the Mass Addition Create Report , it shows assets that have been successfully created from the process which will aid the reconciliation between Asset created and Asset Purchased (entered in AP). The report contains such information as legal entity name, asset account(as indicated on AP) , cost centre (as indicated on AP), Supplier name, Invoice Number & Date, the asset description and the cost of the asset.
Also to ensure that assets created matches assets purchased, if the prepare mass addition form is queried for all assets, a queue name other than POSTED indicates that the asset invoice has not yet been successfully created as an asset on Fixed Asset.
addition2
3.Mass Addition Post
The posting process creates assets from mass addition lines in the POST queue using the data you entered. It also adds mass additions in the COST ADJUSTMENT queue to existing assets. You can run this program as often as you want during a period.
At this state, they become an asset and available on the Asset Workbench. The queue name at this point changes to POSTED .Mass Additions Posting Report FAS824 is the output of this process.
Navigation > Mass Additions > Post Mass Additions
addition3









  4.Depreciation & Transfer to GL
Depreciation computations depend on such factors as the type of depreciation (Life, units of production, or flat rate), the depreciation life and the depreciation method.
The asset category specifies a default depreciation method to be used with an asset. You will usually want to set up categories in such a way that you do not need to override the defaults they establish.
Data Flow:
Here is underline data flow diagram based out of the above discussed sub processes.
Addition















Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Public API’s for FA Transactions

Public API’s for FA Transactions So far Oracle FA is have all the good things except the lack on reporting.Oracle FA is now offer lot of public API's that can be used to interfacing with third party or Oracle application other modules. Here are some of transaction's API's:   Additions API if you have requirement to add assets directly via PL/SQL then use  FA_ADDITION_PUB.DO_ADDITION. If you have selected the Allow CIP Assets check box on the Book Controls window of a tax book when adding CIP assets using the Additions API, the this API automatically adds those CIP assets to that tax book at the same time that they are added to the corporate book. Adjustments API you can make cost adjustments to your assetsdirectly via PL/SQL using  FA_ADJUSTMENT_PUB.DO_ADJUSTMENT  for any  process adjustment. Detail can be found in appendix H) You can use this API if you have a custom interface that makes it difficult to use with the existing Oracle Assets interfaces for adjusti...
Post a Comment
Read more

Unbilled Receivables and Unearned Revenue Accounting in Oracle Projects

Unbilled Receivables and Unearned Revenue Accounting in Oracle Projects Introduction When it comes to contractual billing, invoice and revenue generation are two separate processes, which during the lifespan of a project may or may not always coincide with each other and so do the balances in revenue and receivables accounts.  This interim difference between revenue and invoice account balances is bridged using Unbilled Receivables (UBR) and Unearned Revenue (UER) Accounts. Unearned Revenue (UER) Unearned Revenue (also termed as deferred revenue or UER) signifies money received for the goods or services, which are yet to be delivered.  As per the principles of Revenue Recognition, UER is recorded as on the balance sheet unless it is converted to Revenue upon delivery of goods or services For Example XYZ Consulting Ltd. receives an annual maintenance contract of $ 12,000 on Dec 31, 2014 for the period of Jan 01, 2015 to Dec 31, 2015. At the start of the contract as of Dec 31, 2...
2 comments
Read more

Create Accounting for a Payment generates errors 95333 and 95359

Create Accounting for a Payment generates errors 95333 and 95359 Error: 95333: A conversion rate does not exist to convert USD to AUD for the conversion type Corporate and conversion date 20-MAR-09 for line -25. Please use the Daily Rates form in General Ledger to enter a conversion rate for these currencies, conversion date and conversion type. 95359: There is no accounted amount for the subledger journal entry line. Please inform your system administrator or support representative that: The source assigned to the accounting attribute Accounted Amount has no value for extract line number 88547. Please make sure the source assigned to the accounting attribute Accounted Amount has a valid value, or assign a different source to this accounting attribute. Solution: 1. Specify a conversion rate for the currencies and conversion date mentioned in the error message 95333 Navigation under the General Ledger responsibility: Setup > Currencies > Currency Rates Manager > Daily Rates ...
15 comments
Read more