Steps & Procedures for performing period-end processing in Oracle Assets

In FA, at period end, we require to run depreciation for depreciation books set up for the organization,
and to Create accounting for Oracle General Ledger. Oracle Assets has only a single open depreciation
period in each depreciation book.

1. Complete All Transactions for the Period Being Closed

You need to ensure that all transactions have been entered for the period being closed. Once
a depreciation period in Oracle Assets has been closed, it cannot be re-opened. Check that
no-one is entering transactions as Oracle Assets prevents transaction data entry while the
Depreciation Run Process is running. You need to complete all transactions for Oracle
Assets:

 Prepare and Post Mass Additions

 Complete Manual Additions
 Complete Adjustments
 Complete Retirements
 Complete Transfers
 Complete Reinstatements

2. Then if you required, you need to assign distribution lines to all assets.

If an asset has not been assigned to a distribution line, the period end Depreciation Process
will not complete, and will not close the period. Take the advantage of running "Assets Not
Assigned to Any Cost Centers Listing" report to determine which assets have not been
assigned to a distribution line.

3. Run Calculate Gains and Losses

This is optional, the Calculate Gains and Losses program for retirements can be submitted
prior to running depreciation. The Calculate Gains and Losses process is performed
independently for each depreciation book.

4. Run the depreciation

You can now run depreciation without closing the period.

5. Create accounting

Run ‘Create Accounting – Assets’ process (FAACCPB)

6. Roll Back Depreciation for adjustment
You are trying to do adjustment on a particular asset, FA automatically rolls-back
depreciation for that particular asset.

7. Once you are sure that all the balances are correct you need to run depreciation and close
the period.

8. Create accounting

You need to run "create accounting" very similar as mention in step 5.

9. Post Asset Transaction in GL

You need to make sure the step 8 must be completed only if you done transfer and
posting for the accounting entries to GL.

These steps are basically takes care of data movement, then next step for you to tie FA
and GL.

10. Reconcile your Fixed Asset and GL

 Reconcile Assets to the GL Using Reports

o Journal Entry Reserve Ledger - reconcile with the Account Analysis with
Payables Details Report.
o Tax Reserve Ledger Report
o Account Reconciliation Reserve Ledger Report
 Balance Report
o Cost Detail and Cost Summary Reports
o CIP Detail and CIP Summary Reports
o Reserve Detail and Reserve Summary Reports
o Revaluation Reserve Detail and Revaluation Reserve Summary Reports
 GL Report
o Journal - posted/Unposted
o Account analysis