ERP
ENTERPRISE RESOURCE PLANNING
Standard Operating Procedure (SOP)
Financial Module
ORACLE FIXED ASSETS
VERSION: 1.0
CIVIL AVIATION AUTHORITY
By: Mr. Arslan Nadeem (ORACLE ERP Functional Consultant)
Jaffer Brothers Pvt. Ltd.
Date: May 15, 2013
Oracle Fixed Assets
Module
SOP Oracle Financials Fixed Assets Module
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Contents
PREPARE MASS ADDITION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 1
CREATION OF AN ASSET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 2
POST MASS ADDITION ASSET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 3
PERIODIC MASS COPY ASSET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 4
DEPRECIATING ASSETS . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 5
ENTERING INFORMATION FOR AN ASSET . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 6
MANUAL ADDITION OF AN ASSET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 7
HOW TO RETIRE AN ASSET? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 8
HOW TO REINSTATE AN RETIRE ASSET? . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 9
CREATE ACCOUNTING & TRANSFERRING ENTRIES FOR ASSETS . . . . . . . . STEP # 10
POSTING ENTRIES IN GL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STEP # 11
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Getting Started
Navigation:
1.
2.
3.
4.
Log in to Oracle Application using http://prod.hqcaa.net:8000
Enter User Name
Enter Password
Navigate to Responsibility: Fixed Assets (As Available)
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Oracle Fixed Assets Module
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Step # 1:
PREPARE MASS ADDITION
Switch to Fixed Asset responsibility Double Click on
Mass Additions Prepare Mass Addition
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Select book CAA_DEP_COST and enter a Project / Scheme Number
Click on find button
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Here it can be seen that lines coming from Oracle Projects are with NEW
status (As it always with the same status).
Click on Open button
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Step # 2:
CREATION OF AN ASSET
A new screen will be open as:
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To Post and create an Asset for this particular line, Update the Queue
status as POST which will enable the Expense Account as a mandatory
field to enter.
Here, it can be viewed:
Note: An Asset will only be created if the Queue status is with POST. To
remove the Asset line enters the status with Delete.
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After entering the Expense Account, enter the Location codes as shown
below:
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If you want to link this asset to a Parent Asset, Go To second tab of
Asset Details and enter the Parent Asset number:
Enter the Parent
Asset Number
Save your work and click on Done button.
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Click
Split
Click
Merge
After Click on Split button the asset line will be split and create separate
asset for each line.
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After Click on Merge button the asset line can be merged with an existing
Asset in the FA Module.
Query (F11) with Invoice Number, Press Ctrl + F11
Check the box you want to merge your line with, the Queue name will be
changed to Merged
Merging the Asset line of Invoice Number JV-63 with JV-47 which will add
both Invoice amounts which can be seen in Total Merged Cost.
Save the work and click Done.
In result of this, the asset line will be merged to an existing Asset against
Invoice # JV-47.
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Step # 3:
POST MASS ADDITION
Double click on Mass Additions Post Mass Addition
Where Cost Book (CAA_DEP_COST) for Asset will be taken in both
parameters.
Click OK and Submit, which will run the request.
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As shown below:
After completing the above auto submitted requests by the system the
lines which were viewed in Prepare Mass Addition with POST status will
create Assets in the available open period of Fixed Assets Module.
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Assets that were added in the available period of Module can be viewed in
the Asset Addition Report.
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Step # 4:
PERIODIC MASS COPY
Double Click on Tax Periodic Mass Copy
Assets added in Fixed Asset Module through Post Mass Addition will be
copied after running Periodic Mass Copy request, from Cost Book
(CAA_DEP_COST) to Reval Book (CAA_DEP_REVAL).
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Step # 5:
DEPRECIATING ASSETS
Double Click on DepreciationRun Depreciation
Select the Cost Book (CAA_DEP_COST) and click on the Run button.
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Follow the same step of running depreciation for Corporate Book
(CAA_DEP_REVAL).
Select the Reval Book (CAA_DEP_REVAL) and click on the Run button.
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To view an added asset: Double Click on Assets Asset Workbench
Enter the Asset Number and Select Book
Click on Find button or Press Enter
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A screen will appear as shown below:
Click on Financial inquiry
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Where Cost, Monthly Depreciation (Depreciation Tab), Accumulated
Depreciation and Net Book Value (NBV) can be viewed for both books.
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In the second tab, Cost History can be viewed for both books one by one
by selecting them in Book column on the left corner of the appearing form.
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Step # 6:
ENTERING INFORMATION FOR AN ASSET
If you want to enter information for any asset, query the asset through
Asset AssetWorkbench window
Click on the Open button
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Click on the Asset Category DFF (appearing as Grey color field), select your
asset category in the context value and press OK.
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Once you select the category, a form will appear where you can enter the
available information:
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Step # 7:
MANUAL ADDITION OF AN ASSET
Double Click to Assets Asset Workbench QuickAdditions
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A new form will be open.
Write Description of the asset.
Select Category.
Note: Yellow fields are always mandatory to be filled
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Click on the Grey field
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Click on the Context Value LOV and select your Asset Category.
Fill the complete details as available.
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Click on the Asset Key Flexfield and enter the information as it can be seen
in the screen shot:
You can enter as many units you like here.
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Select Cost Book; Enter Cost and Date Place in Service
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Enter Employee Name to the Asset is assigned
You can assign multiple units to an employee or each unit to each
employee.
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Click on the Expense Account LOV and select the appropriate accounts as
this is the account where asset is actually expense out
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Click on the Location LOV and select the appropriate accounts as this is
the location where asset is actually assigned
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Click on Done button that will save the work create a New Asset and
generate a unique Asset Number automatically.
Run Periodic Mass Copy (Tax Periodic Mass Copy) to copy the manually
added Asset from Cost Book to Reval Book.
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Step # 8:
HOW TO RETIRE AN ASSET?
Query the Asset through Assets Asset Workbench
Click on Retirements button
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Select Cost Book in the parameter
Enter Retire Date you want to retire the Asset
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Enter the Cost Retired and Sale Proceed amount
Gain / Loss Amount will be calculated by the system itself.
Save your work.
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Run Periodic Mass Copy request to copy the same retirement to
Reval Book by double click on Tax Periodic Mass Copy
Once the Request will be completed, the Asset will be retired from both
books.
Retired Assets can be viewed in CAA Asset Disposal Report and
Asset Retirement Report.
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Step # 9:
HOW TO REINSTATE AN RETIRE ASSET?
Double Click on Inquiry Transaction History
Enter the Book you want to reinstate the Asset in
Enter the Asset Number you want to reinstate
Press Enter or click Find
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Copy the Reference Number from this screen
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Go To Assets AssetWorkbench and query the Asset
Click on Retirements button
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Go on Query mode by pressing F11 button and enter the
Reference Number here
Now, press CTRL+F11
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Click on Reinstate button
Click on OK
The Asset is now reinstated.
Follow the same steps for REVAL BOOK or you can reinstate the same
asset by running Periodic Mass Copy request.
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Step # 10:
CREATE ACCOUNTING & TRANSFERRING ENTRING FOR ASSETS
Double click on Create Accounting; Fill the parameters and click on OK
The Accounting will now be created and transferred to GL which can be
viewed in GL responsibility.
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Step # 11:
POSTING ENTRIES IN GL
Navigate to General Ledger responsibility
Double Click on Journals
Enter
Select Assets in Source and Period you are posting your Entries
In Batch Status when you will see the entries with Unposted status
Select that Batch by putting cursor on it and press POST
POST all batches accordingly
Your Accounting Entries for all assets are now transferred and posted in GL which can be viewed in GL
reports. Reconcile your FA reports with GL reports and close the period.
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