What is the Process of Fixed Asset From Inducation to
Disposal & what are the journal entry in GL , AP AND IN
OTHER MODULES
Here are the steps
1. Create a Purchase Order. Distribution line will have asset clearing account (defined in item master). No Accounting entries
2. Receipt of the Asset: Asset clearing account - Dr and Accrual A/C - Cr
3. Create Invoice and match with PO/Receipt: Accrual A/C - Dr and Liability A/C-Cr
Make sure that Track as asset flag is enabled and accounting entries are created and transferred to GL
4. Run "Mass additions create" program. This program transfers the invoice distributions to fixed assets module
5. Prepare mass additions - Here change the status of the line to POST and then add the details like category, location, asset key, etc.
6. Run post mass additions - This will create assets in asset master.
7. Run depreciation. Accounting entries are created for Asset addition, Depreciation, etc and transferred to GL.
Asset addition
============
Asset Cost - Dr
Asset Clearing - Cr
Depreciation
===========
Depreciation expense - Dr
Accumulated Depreciation - Cr
Is This Answer Correct ? | 0 Yes | 0 No |
In prepare mass additions window what are available Q names?
What is project accounting in oracle.
What is the Reconciliation Open Interface used for in Cash Management?
Item is not showing in the items list, what is the reason for that in backend?
P2p cycle explanations? And entry, if asset item received what is entry?
would anyone tell me what are the expected real time questions in the interviews
what is accounting entry once we receive GRN and inventory accounting.?
3 Answers Ernst Young, Tech Mahindra,
IS Automatic writeoff allowed for both over n under payments??
If the COA of the parent and child are difference then how will the consolidation be done?
what r issues faced in gl
HI, waht is the difference between security rule v/s Balance segmetn values in R12. what is the exact purporse of Balance segment vlaues? expalin with an example.
what are the setup from scrap in R12.?