YASH Technologies PVT - LTD: Application: Asset Management
YASH Technologies PVT - LTD: Application: Asset Management
YASH Technologies PVT - LTD: Application: Asset Management
Ltd
Application:
Asset Management
Contents
Assets overview
Integration with other modules
Pre-Requisites to Implement Oracle Assets Application
Responsibility
User
Business Group
Ledger
Legal Entity
Operating unit
Profile Options
KEY SETUPS
Assets Key Flexfields (KFF)
Asset Category Flexfield
Asset Location Flexfield
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Contents
Asset Key Flexfield
Segments
Value sets
Values
System controls
Fiscal Year Calendar
Depreciation Calendar
Pro-Rate Calendar
Asset book controls
Asset Categories
Asset Locations
Asset Keys
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Contents
Quick Addition
Manual Addition
Inquiry
Initial Mass Copy
Depreciation
CIP asset creation
Asset Split
Asset Transfer
Asset Retirement
Mass Changes.
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INV
P2P
PROCESS
OM
GL
PO
AR
O2C
PROCESS
C
M
AP
FA
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Responsibility
Responsibility is a combination of Application, Data
group, Menu and Concurrent request group.
User Creation
Business Group
A Business Group is essentially a Human Resources organization, to
which we assign employees. The Business group, as an organization
is used to represents the entire corporation or the enterprise
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Ledger
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Legal Entity
In Oracle, Legal existence of business we call as legal entity. It
consist of Legal address, Legal entity identifier, country unique
identifier.
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Operating Unit
An organization that uses Oracle sub-ledgers, such as Oracle CM,
OM and Payables, Purchasing, Receivables, and related products. It
may be a sales office, a division, or a department.
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Profile Options
Assign few profile options to the payable responsibility to access or
work under BG, Ledger, LE and Operating unit. You can set user
profile options at different levels: site, application, responsibility,
user depending on how the profile options are defined.
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KEY SETUPS
Assets Key Flexfields (KFF)
Asset Category Flexfield
Asset Location Flexfield
Asset Key Flexfield
Segments
Value sets
Values
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Save the document and freeze the structure and click on compile button
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Enter Segment values for Asset Category Flexfield for major segment.
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Enter Segment values for Asset Category Flexfield for minor segment
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You must define exactly one State segment when setting up your
location flexfield. Specify which segment is your state segment
by checking Enabled for the State qualifier in the Segments
window. You can run the Property Tax Report for your states.
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Save the document and freeze the structure and click on compile button
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You define your asset key flexfield structure to fit the specific
needs of your organization. You choose the number of
segments, the length of each segment, and the name and order
of each segment in your asset key flexfield. You can define up
to ten asset key segments. This key flexfield supports only one
structure.
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System Controls.
It is one time setup.
Enter the enterprise name as you want it to appear on
reports.
Enter the Oldest Date Placed In Service, which controls
what dates are valid to place assets in service and on what
date to begin your calendars.
If you change this field, you do not affect the assets already
in the system. However, you cannot place new assets in
service before the new date. (You can only update the
Oldest Date Placed in Service before you assign any
calendars to depreciation books.)
Enter the Starting Number at which you want Oracle
Assets to begin automatically numbering your assets. Note
that some asset numbers may be skipped.
If you are using automatic numbering, then manual
numbering must be less than the starting asset number
that you have in the System Controls window.
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Depreciation Calendar
Each book you set up requires a depreciation calendar and a
prorate calendar.
The depreciation calendar determines the number of
accounting periods in a fiscal year, and the prorate calendar
determines the number of prorate periods in your fiscal year.
You can use one calendar for multiple depreciation books,
and as both the depreciation and prorate calendar for a book.
Navigation: Setup Asset System Calendar
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Your corporate books can share the same calendar. A tax book can
have a different calendar than its associated corporate book. The
calendar for a tax book must use the same fiscal year name as the
calendar for the associated tax book.
The depreciation program uses the prorate calendar to determine
the prorate period which is used to choose the depreciation rate.
The depreciation program uses the depreciation calendar and
divide depreciation flag to determine what fraction of the annual
depreciation expense to take each period.
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Prorate Calendar
We must initially set up all your prorate conventions from
the convention period corresponding to the oldest date
placed in service through the end of the current fiscal year.
At the end of each fiscal year, Oracle Assets automatically
sets up your prorate conventions for the next fiscal year.
Navigation: Setup Asset System Prorate Conventions.
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Enter the Fiscal Year Name for which you want to set up
this convention.
Enter date ranges and corresponding prorate dates for
assets where the date placed in service is between the From
Date and the To Date.
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Corporate Book
Enter name of your book and assign ledger, depreciation
calendar, fiscal year, prorate calendar.
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Tax Book
Enter name of your book and assign ledger, depreciation
calendar, fiscal year, prorate calendar.
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Asset Categories
Oracle Assets defaults these depreciation rules when you add an
asset, to help you add assets quickly.
If the default does not apply, you can override many of the
defaults for an individual asset in the Asset Details or Books
windows. You set up default values for each category in each
book.
The default depreciation rules that you set up for a category also
depend upon the date placed in service ranges you specify.
Navigation: Setup Asset System Asset Categories.
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Asset Locations
To install or addition or capitalize asset we must have
location.
This is controlled by Asset location KFF. To setup any
location , we must have location FF values in the system.
Navigation: Setup Asset System Locations
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Asset Key
Asset Key nothing but asset identification.
This is controlled by Asset key KFF. To setup any asset
key , we must have Asset key FF values in the system.
Navigation: Setup Asset System Asset Keys.
Choose your respective asset key value and effective
date from.
Save the documents.
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Enter the details of supplier and supplier site, ship to, bill to
locations.
Move to lines, enter the details of items, quantity and price.
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Quick addition.
You use Quick Additions to add assets manually. All assets
added to the primary asset book are automatically converted
to the reporting currencies asset books when you save
transaction. Based on asset date placed in service, Oracle
Assets retrieves an exchange rate to convert the asset cost
and depreciation reserve.
Quick additions process is used to quickly add ordinary assets.
Navigation: Assets Asset Workbench
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Manual Addition.
Navigation: Assets Asset Workbench.
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Depreciation.
Depreciationis a method of allocating the cost of a tangible asset
over its useful life.
Businessesdepreciatelong-term assets for both tax and accounting
purposes.
Depreciation is a decrease in an asset's value caused by
unfavourable market conditions.
Oracle Assets calculates depreciation using either the recoverable
cost or the recoverable net book value as a basis. If the depreciation
method uses the asset cost, Oracle Assets calculates the fiscal year
depreciation by multiplying the recoverable cost by the rate.
Navigation: Depreciation Run Depreciation.
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Now run the mass addition create and mass addition create report programs.
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We are able to see the asset invoice details below. Click on open.
Provide the details of asset category, expense account and location
details.
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Asset Transfer.
Asset transfer can be happen in Expense account to
expense account or location to location or employee to
employee.
Navigation: Mass transactions Transfers.
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Click on Preview.
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Click on output.
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Asset Retirement
We can retire an individual asset in the Retirements window.
We can retire a group of assets in the Mass Retirements
window.
Asset can be retire in two ways
Partially
Fully
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Click on find.
Select the asset which you want to retire, then click on
retirement.
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Mass Changes
In this mass changes we can correct an error or update
financial information for a single asset or multiple assets.
We can also overwrite depreciation information for an asset
while adding it using the detail addition process.
Navigation: Mass Transactions Changes.
Below are the list of option which we can change asset
information.
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Click on Preview.
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