Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Process of Fixed Asset From Inducation to
Disposal & what are the journal entry in GL , AP AND IN
OTHER MODULES
- 1 Answers
- 3707 Views
- Ramco, I also Faced
- E-Mail Answers
Answer Posted / tgs100
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 |
Post New Answer View All Answers
Explain Customer Creation and Maintenance Process. Provide samples of customer master records with Payment Terms.
We have both consumption tax and With Holding Tax on each invoice, will there be any conflict involved?
While assigning the security by book in oracle assets..i am unable ot get the asset org in security profile form.This asset org was already defined in org description window.
What kind of budgets have you worked on?
What do you mean by controlling buyers workload?
Define the activities of the Configuration Manager (AP,GL,FA) in the team. Give examples
What is multi org? What is difference between 11i and 12i multi org structure?
What is meaning of deprecation?
When we run a GL Reconciliation Report, we also see the void payments in that report. Even though i disable the option of Show Void payments, its appearing in the report.How do i proceed so that i dont see those void payments in the GL Reconciliation Report?
can we define 2 different currency revaluation at a time??
What is the Process of Reconciliation Between AP to GL
what is the meaning of purchase default and what are the types
What is Work Flow of AP,AR, Sales & Purchase
Hi I'm new in ERP - Oracle Application i appriciate if any one help me in this issue i need SQL to get badeget balance Acutal Balance Encumbrance Balance fund Avalable thanx ahmed
could you please post some work around that any body have done in the financial modules.
