Manual Asset Additions

Release 12 Oracle Asset Management Fundamentals

Copyright 2007, Oracle. All rights reserved.

Objectives

After completing this module, you should be able to do

the following:
Discuss how manual asset additions fits into the
Oracle Assets process
Discuss the two options for adding assets manually
QuickAdditions and Detail Additions
List the required fields to add an asset
Discuss the difference between a QuickAddition
and a Detail Addition
Explain the requirements to complete an asset
QuickAddition (accept defaults)

Copyright 2007, Oracle. All rights reserved.

Objectives

Discuss the requirements to complete an asset Detail

Addition (descriptive details, depreciation rules (books),
assignments, and source lines)
Explain the accounting transactions when adding
assets manually

Copyright 2007, Oracle. All rights reserved.

Agenda

Asset Life Cycle

Asset Additions Required Data
QuickAdditions
Detail Additions
Manual Asset Additions Journal Entries

Copyright 2007, Oracle. All rights reserved.

Asset Life Cycle

Manual Additions

Oracle
Payables

Oracle
Projects

Quick Additions

Other/
Legacy
Systems

Web
ADI

Detail Additions
Birth of an
Asset

FA_MASS_ADDITIONS
Asset
Books
Asset Retired
Asset
Depreciates
Copyright 2007, Oracle. All rights reserved.

Adding Assets Manually

Quick Additions

Detail Additions

Assets that
require more
information

Assets added
applying default
rules

Oracle Assets

Copyright 2007, Oracle. All rights reserved.

Asset Additions Required Data

To add an asset, the following
fields require data:
Asset Number
Description
Category
Asset Type
Units
Book
Cost
Date Placed in Service
Depreciation Expense Account
Location
Copyright 2007, Oracle. All rights reserved.

QuickAdditions

Required Fields

Optional Fields

Asset Number
Description

Tag Number
Category Descriptive
Flexfield
Serial Number

Category
Asset Type
Units
Book
Cost
Date Placed in Service

Asset Key
Supplier/PO Info
Employee Info

Depr Expense Account

Location

Copyright 2007, Oracle. All rights reserved.

Detail Asset Additions

The Asset Workbench provides access to four windows

where you can enter detail asset information.
Asset Workbench

Optional

Source Lines

Asset Details

Books

Copyright 2007, Oracle. All rights reserved.

Assignments

Detail Additions - Asset Details Window

Fields in Detail Additions not previously
discussed:
Asset Details Window
Parent Asset
Manufacturer / Model
Warranty Number
Lease Information
In Use/Physical Inv Checkboxes
Property Type/Class
Ownership
Bought Status

Copyright 2007, Oracle. All rights reserved.

Detail Additions - Books Window

Fields in Detail Additions not previously discussed:
Books Window
Amortize Adjustment
Revaluation Options
Checkbox
Depreciation Methods
Amortize NBV Over
Depreciate Checkbox
Remaining Life Checkbox
Prorate Convention
Various Asset Costs
Amortization Start Date
Salvage Value
Short Fiscal Year Options
YTD Depreciation
Accumulated Depreciation
Ceiling

Copyright 2007, Oracle. All rights reserved.

Asset Cost Terminology

Original added cost +/- any

cost adjustments
Original added cost - not
Original Cost
updated after first period
Current cost - salvage
Recoverable Cost
value - ITC basis reduction
Current cost - accumulated
Net Book Value
depreciation
Current Cost

Copyright 2007, Oracle. All rights reserved.

Accumulated Depreciation Considerations

Entering Amounts in the Accumulated Depreciation (A/D) Field

If you enter:

The Oracle Assets System:

Zero A/D

Catches up all prior depreciation

in the current period

Too little A/D

Books depreciation shortage in

last period of asset's life

Too much A/D

Asset becomes fully reserved

before the end of its life

Just right A/D

No depreciation adjustment
required

Copyright 2007, Oracle. All rights reserved.

Depreciate Checkbox Actions

Depreciate
Checkbox
Asset depreciates as long as checkbox is
checked
Depreciation from Date Placed in Service to
date checked is charged in current period
Start

Check
Later
Depreciation for unchecked period(s) is
taken in last period of asset's life

Start Uncheck Recheck

Later

Copyright 2007, Oracle. All rights reserved.

Detail Additions - Assignments Window

Fields in Detail Additions not previously discussed:

Distribution Set
Units to Assign

Copyright 2007, Oracle. All rights reserved.

Detail Additions - Source Lines Window

Optionally enter the following information when adding an

asset:
Supplier
Invoice
Number Line
12345

Description

Name

Laptop

ABC Corp

PO
Number Number

Copyright 2007, Oracle. All rights reserved.

7896

456963

Manual Asset Additions Journal Entries

The journal entry created when manually adding an asset.

Asset Cost
50,000

Asset Clearing
50,000

You must create a manual journal entry in General Ledger to

clear the Asset Clearing Account.
Asset Clearing
50,000

Appropriate Acct
50,000

Copyright 2007, Oracle. All rights reserved.

Summary

In this module, you should have learned how to:

Discuss how manual asset additions fits into the
Oracle Assets process
Discuss the two options for adding assets manually
QuickAdditions and Detail Additions
List the required fields to add an asset
Discuss the difference between a QuickAddition
and a Detail Addition
Explain the requirements to complete an asset
QuickAddition (accept defaults)

Copyright 2007, Oracle. All rights reserved.

Summary

Discuss the requirements to complete an asset Detail

Addition (descriptive details, depreciation rules (books),
assignments, and source lines)
Explain the accounting transactions when adding
assets manually

Copyright 2007, Oracle. All rights reserved.