AIM DO070 USER MANUAL Government of Namibia IFMS Project Oracle Fixed Assets

Author: Creation Date: Last Updated: Document Ref: Version:

Martha Taapopi August 11, 2008 March 3, 2011 DO070 Fixed Assets 1.0

Approvals: Silnam GRN (MOF AM)

IFMS-GRN

DO070 Fixed Asset

Document Control
Change Record
2

Date 19-June-09 17-Aug-08

Author Martha Taapopi Rita Bunsing

Version 0.1 1.0

Change Reference

Reviewed and corrected

Reviewers

Name Rita Bunsing Dasa Padachi

Position Team Leader IFMS Project Manager

Distribution

Copy No. 1 2

Name GRN Library Master Silnam Library Master

Location Project Library Project Manager

Note To Holders: If you receive an electronic copy of this document and print it out, please write your name on the equivalent of the cover page, for document control purposes. If you receive a hard copy of this document, please write your name on the front cover, for document control purposes.

ii

IFMS-GRN

DO070 Fixed Asset

How the Manual Is Organized

This manual is divided into 7 major sections: 1) Main setup considerations 2) Asset Addition 3) Maintaining Assets information 4) Running Depreciation 5) Physical Asset Count 6) Assets Online Inquiry 7) Oracle Assets Programs, Reports and Listing

IFMS-GRN

DO070 Fixed Asset

Contents

Document Control .................................................................................................................. ii How the Manual Is Organized .............................................................................................. 1 CHAPTER 1 Setup Considerations ................................................................................................................. 4 Topical Essay ........................................................................................................................... 5 Main setup consideration ............................................................................................... 5 CHAPTER 2 Acquiring Assets .................................................................................................................................... 6 Topical Essay ........................................................................................................................... 7 Assets Addition Overview ............................................................................................. 7 (a) Adding Assets from Non-Oracle systems through ADI .............................. 8 (b) Assets Mass Additions from Oracle Payables ............................................. 13 (c) Adding Asset directly in Oracle Assets ........................................................ 24 CHAPTER 3 Asset Maintenance .............................................................................................................. 29 Topical Essay ......................................................................................................................... 30 Maintenance of assets applies to single and group (mass) of assets. ...................... 30 Changing Information for a group of Assets ............................................................. 30 Single (Few) Asset Transfer .......................................................................................... 31 Mass Transfers ............................................................................................................... 33 Changing Information for single Asset ....................................................................... 35 You can correct errors or update financial information for a single asset. ............ 35 Mass Changes: ................................................................................................................ 39 Mass Reclassification ..................................................................................................... 41 Retiring a single Asset ................................................................................................... 43 Mass Retirement ............................................................................................................ 45 Reinstating a single Asset [Correcting Retirement Errors]....................................... 50 Mass Reinstatement ....................................................................................................... 53 CHAPTER 4 Assets Depreciation ............................................................................................................. 55 Topical Essay ......................................................................................................................... 56 Running Depreciation Projection ................................................................................. 56 Running Depreciation ................................................................................................... 56 CHAPTER 5 Physical Asset Count ........................................................................................................... 57 Topical Essay ......................................................................................................................... 58
2

IFMS-GRN

DO070 Fixed Asset

Physical Asset Count ..................................................................................................... 58 CHAPTER 6 Assets Online Inquiry ......................................................................................................... 63 Assets Inquiry................................................................................................................. 64 CHAPTER 7 Standard Assets Reports ..................................................................................................... 66 Running Standard Reports and Listings..................................................................... 67

IFMS-GRN

DO070 Fixed Asset

CHAPTER

Setup Considerations
This chapter contains a brief overview of each task one needs to
complete to set up Oracle Assets.

IFMS-GRN

DO070 Fixed Asset

Topical Essay
Main setup consideration
The following steps need to be performed in order to implement Oracle Assets: Define Fiscal Year Define Depreciation Calendar Define Prorate Calendar Define Prorate Convention Define Asset Book with Accounting Rules and Natural Accounts Define Asset Locations and Asset Location Combination Define Asset Categories and Asset Category Combination Attach Depreciation Methods

IFMS-GRN

DO070 Fixed Asset

CHAPTER

Acquiring Assets
This chapter explains how to add and enter new asset information
in Oracle Assets.

IFMS-GRN

DO070 Fixed Asset

Topical Essay
Assets Addition Overview
The following screens describe all mandatory information needed when adding a new asset to the system. You can define an Asset by either: A. Adding Assets from Non-Oracle systems through ADI B. Adding Asset from Oracle Payables C. Adding Asset directly in Oracle Assets

IFMS-GRN

DO070 Fixed Asset

(a) Adding Assets from Non-Oracle systems through ADI

To load assets from non-oracle system through ADI, Navigate to Mass Addition window RESPONSIBILITY: OMAs (FA User) are responsible for loading asset through ADI Template and to perform this whole process StartAll ProgramsOracle ADI Application Desktop Integrator Click on a Hand Icon to sign in

Enter your logins details

Click OK Button (right mark green icon) Select the Responsibility: e.g. VET FA USER

Click OK Button (right mark green icon) Click on Asset Icon

Click Create Assets

IFMS-GRN

DO070 Fixed Asset

Select Corporate Depreciation Book

Select Layout Click whether to create a New Workbook or Current Workbook Click OK To be able to enter information in the Workbook, go to Menu Bar, ToolsProtection Unprotect Sheet Enter Information

After entering Data: Click Asset Icon on a ADI Toolbar

Click Upload to Interface.

IFMS-GRN

DO070 Fixed Asset

Select which Rows to upload (Flagged Rows or All Rows)

Click Ok Button (Right Green Button) After clicking Ok, a confirmation will appear to inform you whether all rows were successfully uploaded or if there were any errors.

Note: If there is a row with an error, no rows will be uploaded.

10

IFMS-GRN

DO070 Fixed Asset

To view information loaded: - NMass AdditionPrepare Mass AdditionsFind

Enter the FA Book for the respective OMA In the Queue field select POST Click on Find You will see the lines uploaded

11

IFMS-GRN

DO070 Fixed Asset

To Post them to Asset Register: NMass AdditionPost Mass Additions Click on Parameter Field

Choose the book you are posting to Click Ok Click Submit After this process, you will be able to see the Asset in Asset Register of the Book you chose.

12

IFMS-GRN

DO070 Fixed Asset

(b) Assets Mass Additions from Oracle Payables

Assets will be procured through Purchasing Module and paid through Payables Module. Pre-requisites: Note: the pre-requisites are the responsibility of the Creditors Departments AP User. The following pre-requisites steps should be performed in the Payables modules: 1. Create Accounting for asset transactions 2. Run Process Create Mass Addition (to transfer Assets details from AP to FA) 3. Run Create Mass Addition Report to view that the information has been transferred successfully. Note: the steps below are for FA Users Use the Mass Additions windows to review, merge, split, post, and purge mass additions This process includes Prepare Mass Additions and Post Mass Additions. Steps: 1. Navigate to Mass Additions window 2. Choose the Book = the respective OMAs FA Book Queue name = Select New 3. Click Find

Oracle Asset (N)Mass AdditionsPrepare Mass Additions

13

IFMS-GRN

DO070 Fixed Asset

The Mass Additions Summary screen will appear. Here you can Review newly created mass addition lines before posting them to Oracle Assets:

Click Open Button; the Mass Addition window will pop out Change the Queue name from New to Post Enter the category Enter the expense Account. Note this is a Depreciation Account Enter the Location

Click Asset Details tab: Enter the asset description - Enter the Asset Key - Enter Tag Number (this applies when one has a tagging/scanning system) - Enter serial Number if that Asset have - Enter the Units - Click the Assignment Button
14

IFMS-GRN

DO070 Fixed Asset

In the Assignment window, assign the number units to be distributed to an expense account (Depreciation Account) and location.

Tab to the Unit field and type the number of units you are assigning. Tab to the Expense Account (Depreciation Account) and enter 99.9999.999.0000.000000.000000.0000.00 , which is the expense account for your asset Enter the location from the LOV, and then press the Done Button.

15

IFMS-GRN

DO070 Fixed Asset

After pressing the Done Button, the Mass Addition Window will appear. In the Queue field change the status of the mass addition lines from new to Post from the LOV, and then click Done button

To convert all assets with status POST into the Asset Book, navigate to: (N) Mass Additions Post Mass Additions

16

IFMS-GRN

DO070 Fixed Asset

In the Parameters field (both lines) enter the Asset Book were the asset will be created. Click on the Submit button to submit the report. A request ID will appear note the ID and check the report request.

The request will generate for more requests.

Query your request, and view output by pressing the View Output Button in the requests window. Go to the last request and view output to see the asset creation detail report, like the asset number and other information.

17

IFMS-GRN

DO070 Fixed Asset

You can find the asset by its number from the Asset Workbench.

Click find OR Query: key F11enter %Asset Number% Press Ctrl (Control) and key F11 together.

Note: The asset will be shown in the Asset Book of that respective OMA.

18

IFMS-GRN

DO070 Fixed Asset

Clean up Mass Additions Clean Up Mass Additions and Delete unwanted mass addition lines which were pulled from Oracle Payables. To clean up and delete unwanted mass addition, navigate to: (N)Mass AdditionsDelete Mass Additions

In the Parameters field enter the Asset Book for the respective OMA. Click on submit to run the request. Note the request ID and view the request.

19

IFMS-GRN

DO070 Fixed Asset

Merge Mass Additions: You can merge separate mass addition lines into a single mass addition line with a single cost. The mass addition line becomes a single asset when you Post Mass Additions to Oracle Assets.

1. Select the Mass Addition line you want to merge other mass addition lines into. Make sure there is more than one line for the invoice to do a merge. Press the Merge Button. The Merge Mass Additions window will appear. Please note that you can do merge mass additions for NEW & ON HOLD Queues only, and for mass addition lines of the same invoice

20

IFMS-GRN

DO070 Fixed Asset

Mark the check box beside the mass addition lines you want to merge. See how the Queue will automatically change to merge once the check box is marked. Then press the Done Button. You can always do unmerge, by clicking on the same mass addition line and pressing the merge button, remove the check boxes and then press the Done button. The Queue name will change from Merged to what it was before doing the merge.

2.

Note: This functionality will not be used when treating each asset individual.

21

IFMS-GRN

DO070 Fixed Asset

Split Mass Additions: You can also split a mass addition line with multiple units into several single unit lines. Select the mass addition line with multiple units. Press the Split Button at the bottom of the Mass Addition Summary window.

Press OK for the Caution. A note will pop out to inform you that the mass addition line with multiple units is successfully split. Press OK and re-query the invoice lines. Once its split, the status will change to on hold. Once you do split a mass addition, the original line is put in the SPLIT queue as an audit trail of the split. The resulting split mass additions appear with one unit each and with the same existing information from the source system. Each split child is now in the ON HOLD queue. You can review each line to become a separate asset. You can always undo a split by pressing the Undo Split Button, Oracle Assets places the original multiple unit mass addition line in the ON HOLD queue and deletes the single unit lines In order to post mass addition you must define the Category combination, Expense Account and location and change the queue of all lines and assets to POST.

22

IFMS-GRN

DO070 Fixed Asset

To Post Split lines: - Click on the split line. - Change the Queue from ON HOLD to Post - Enter the Location, - Enter the Expense Account (Depreciation Account) 99.9999.999.0000.000000.000000.0000.00 - Select the Category. - Enter the Asset Description - Enter the Asset Key - Enter the Tag Number - Enter Serial Number especially for equipments - Enter the Unit - Click Assignment - Click done

23

IFMS-GRN

DO070 Fixed Asset

(c) Adding Asset directly in Oracle Assets

RESPONSIBILITY: OMAs (FA User) are responsible for adding asset directly in Oracle Assets System

To enter Asset, navigate to Quick Additions window

(N)Assets Workbench Asset WorkbenchQuickAdditions

Click Quick Addition Button to add a new asset. You will get the following screen. This is the quickest way to add a new asset into the respective OMAs asset register.

24

IFMS-GRN

DO070 Fixed Asset

QuickAdditions window will open:

The following are the steps to enter a new Asset as quick as possible: Type the description of the Asset in the Description field. Select the categories of the Asset in the Category field Enter the Asset Key (Note: Asset Key Flexifield is on Default 000000) Enter the number of units. Note the number of the units will be Defaulted to 1 unit; always enter the right number of unit(s) for that respective item being entered in the register. Enter the Serial Number (Note: It is optional, but important for Equipment and Items with serial number(s)). Enter the Book (select the right book for the respective OMA) Enter the cost and if the units are more than 1 enter the total cost Enter the Date in Service (Note: for all the Old items, a single date will be used, Enter the Expense Account, this is the Depreciation Account: 99.9999.999.0000.000000.000000.0000.00 Enter the Location (indicate where the specific item/asset is located) Click on the Done Button (this automatically save your work). NOTE: All the other White Fields are Optional (only the Yellow Fields are Mandatory)

25

IFMS-GRN

DO070 Fixed Asset

OR

(N)Assets Workbench Asset WorkbenchNew Asset Details window will open:

This is the long way to add a new asset in to the respective OMAs asset register. The following are also steps to enter a new Asset: Enter the description of the Asset in the Description field. Enter the category of the Asset in the Category field Enter the number of units. Note the number of the units will be defaulted to 1 unit; please to enter the right number of units for that respective item being entered into the register. Enter the Asset Key (Note: Asset Key Flexifield is on Default 000000) Enter the Serial Number (Note: It is optional, but important for Equipment and Items with serial number(s)). Click on the Continue Button to continue with the entering of the asset information. You will get the following window. NOTE: Yellow Fields are Mandatory meaning its a must to fill the yellow f ields and White Fields are Optional. When the Continue button is clicked: Books window opens.

26

IFMS-GRN

DO070 Fixed Asset

The Books window opens:

In the Book field enter the Asset Book for that respective OMA. In the current cost field enter the total cost of the asset/units. Notice that there is some information which is being defaulted from the Asset Category definition. You can override this information according to the requirements. After entering the entire required information, click on Continue to enter more information. (The Assignment window will appear).

27

IFMS-GRN

DO070 Fixed Asset

Assignment Window:

Steps to perform to enter the assignment details: Notice that Total Units indicate total asset to be entered in the system In the Unit Change field enter the number of asset to be assigned Enter the name of the Employee if you want to assign the asset to employee In the Expense Account enter the depreciation account: 99.9999.999.0000.000000.000000.0000.00 Press the Done button once finished, a note will appear informing you, the transaction has been saved and the system has assigned a new number for your asset. Press OK.

28

IFMS-GRN

DO070 Fixed Asset

CHAPTER

Asset Maintenance
This chapter explains how to maintain assets by changing asset details,
and adjust accounting information for Assets.

29

IFMS-GRN

DO070 Fixed Asset

Topical Essay
Maintenance of assets applies to single and group (mass) of assets. Changing Information for a group of Assets
Maintenance includes functions: Transfers Changes Retirements Reclassifications Asset Stock Count

30

IFMS-GRN

DO070 Fixed Asset

Single (Few) Asset Transfer

(N)Assets workbench Asset workbenchAssignments RESPONSIBILITY: OMAs (FA User) are responsible for transferring asset in Oracle Assets System From the Asset window find the asset by number or description which needs to be transferred.

Press the Assignment Button in the Assets window.

31

IFMS-GRN

DO070 Fixed Asset

The Assignment window will open.

In the Assignments window, Location or Expense Account, but for the Expense Account (Depreciation Account) there is no need to change because its always 99.9999.999.0000.000000.000000.0000.00 Type the comments stating a brief reason for the transfer In the Unit Change field, enter the number of units to be transferred. Note that the unit(s) entered in this field should be negative number e.g. -3. This indicates the number of units to be subtracted from the total units. Click the next line. In the Unit Change enter the number of units to be transferred without a negative(-) e.g. 3 Enter the Expense Account: 99.9999.999.0000.000000.000000.0000.00 From the list of values (LOV) select the location where the units are being transferred. Employee name is optional Click the Done button to save your work.

32

IFMS-GRN

DO070 Fixed Asset

Mass Transfers
Transferring a Group of Assets - Oracle Assets allows you to transfer multiple assets, with one transaction. Mass Transfer function is used when a group of assets is transferred between different locations or expense accounts (for expense account its not applicable for GRN). RESPONSIBILITY: OMAs (FA User(s)) are responsible for Transferring a Group of Asset for their respective OMA. 1. Navigate to Mass Transfers window (N) Mass TransactionsTransfers

2. Choose FA Book for the respective OMA. 3. Optionally, update the Transfer Date from list of values (LOV). Note: You can change the transfer date to a prior period date, but cannot change the date to a future period date. 4. In the Comments field state a brief reason for transferring 5. Enter the Expense Account (Depreciation Account): 99.9999.999.0000.000000.000000.0000.00 6. Select the Location where the assets are being transferred to. 7. Press Preview button to run the Mass Transfers Preview report. Use this report to preview the expected effects of the Mass Transfer before you perform it. If necessary, update the definition and run the preview report again. 8. Press OK to the note that will appear, notifying you of the request ID number. Navigate to the Requests Window and review the log file and report after the request completes.

33

IFMS-GRN

DO070 Fixed Asset

9. To perform the Mass Transfer, query the mass transfer in the Mass Transfers window then Press the Run Button. Oracle Assets submits a concurrent process to perform the transfer.

10. Review the log file from the Requests window after the request completes by: (N) ViewRequestFind (Refresh Data until the status are Completed Normal) 11. Click the View Output Button.

34

IFMS-GRN

DO070 Fixed Asset

Changing Information for single Asset

You can correct errors or update financial information for a single asset. Changes could be:

Reclassify a single asset/Changing Asset Category Change Asset Cost Change Asset Unit(s) Change Serial Number Change Depreciation Method

(N)AssetsAssets WorkbenchOpen 1. The above Navigation (N) leads you to the Asset Window

2. Query the asset for which you want to change financial information for. 3. Click the Open button in the Assets window. The Asset Details window will open.

35

IFMS-GRN

DO070 Fixed Asset

Asset Details window:

1.

Enter the new financial information for the asset or correct errors done on the specific asset. Choose whether to change the description; category; asset key; units or serial number, etc. Once the correction or update has been performed for that respective asset, click on Done button to save changes on the transaction performed.

2.

Note: When changes have to be done on the unit(s) of the specific asset(s), the following procedures should be performed: Once you click on Done button to save changes on the transaction performed as mentioned above; The Assignment window opens, meaning that the process is not yet completed until the changes are done on the Assignment window. At the Comment Field, type a brief reason as to why the unit(s) changed. In the Unit Change column enter the number of unit(s) that appear in the Units to Assign field. Also ensure that the unit(s) that changed is assigned to the right location (the expense account remains 99.9999.999.0000.000000.000000.0000.00). Once the above is done, click on the Done button on the Assignment window to save your work.

36

IFMS-GRN

DO070 Fixed Asset

OR

(N)AssetsAssets WorkbenchBooks Button

1. 2. Navigate to the Asset Workbench window Query the asset for which you want to change financial information for then press find.

3.

Press the Books Button in the Assets window. The Books window will open

37

IFMS-GRN

DO070 Fixed Asset

The Books window will open:

4. 5.

Choose FA Book for the respective OMA. Enter the new financial information for the asset. Choose whether to change the Current Cost of the asset, Useful life of the Asset or the Date placed in Service fields. Choose whether to Amortize Adjustment or expense it in the current period . Click the done button and this will save your work.

6. 7.

38

IFMS-GRN

DO070 Fixed Asset

Mass Changes:
To change Financial Information for a Group of Assets. RESPONSIBILITY: OMAs Supervisors are responsible for approving any changes by signing the change request form for Mass Changes. The OMAs FA Users only p erform the Mass Changes on the system once the Supervisor approves the changes on the change request form. 1. Navigate to the Mass changes window

(N) Mass TransactionsChanges

2. 3.

Enter the FA Book for the respective OMA, which the assets belong to. Select the assets you want to change. Specify the Asset Numbers, Dates Placed in Service, and Category (use LOV) for which the Mass Change applies.

You can use the Before and After fields as either information to change or as a selection criterion without changing the information. When you enter the same value for the Before and After fields, the mass change affects only assets that match that information. 4. 5. 6. Choose whether to amortize the adjustment or expense it in the current period. Choose whether to Change Fully Reserved Assets within the range of your search criteria Press Preview to run the Mass Change Preview report. Use this report to preview what effects to expect from the Mass Change before you perform it. If necessary, update the definition and run the preview report again. navigate to Requests widow, and view report.

39

IFMS-GRN

DO070 Fixed Asset

7. 8. 9.

The mass change status that appears in the Status field at the top left of the Mass Changes window determines what action to perform next. To perform the mass change, query the definition and Press Run. Oracle Assets submits a concurrent process to perform the change. To review a completed mass change, query the definition and choose Review. Oracle Assets runs the Mass Change Review report.

10. Review the log file and report after the request completes from Requests window

40

IFMS-GRN

DO070 Fixed Asset

Mass Reclassification
You can reclassify a group of assets using the Mass Reclassifications window. In addition to reclassifying assets to a new category, when you run the Mass Reclassification process, you have the option to have assets inherit the depreciation rules of the new category. 1. Navigate to the Mass Reclassifications window

(N)Mass TransactionsReclassifications
2. Find the assets you want to reclassify in the Mass Reclassifications window shown below.

3. 4. 5. 6.

Enter FA Book for the respective OMA Optionally specify other asset selection criteria, such as asset number and asset type In the Category field, enter the New Category using the LOV in the Parent, Child and Minor Category fields Specify if you want the current category descriptive Flexfield information copied to the new category by checking the Check Box

If you do not choose to copy the Flexfield information, the current category descriptive Flexfield information will be deleted.

41

IFMS-GRN

DO070 Fixed Asset

7. 8. 9.

Specify whether to inherit the depreciation rules of the new category by checking the specific Check Box If you choose to inherit the depreciation rules of the new category, specify whether to amortize the changes Press Preview to run the Mass Reclassification Preview report.

10. Query the Mass Transaction number and choose Run to submit the Mass Reclassification concurrent process.

Mass Reclassification will be processed and you can view the reclassification by Querying the reclassification then click Review Button. Oracle Assets runs the Mass Change Review report. Review the log file and report after the request completes from Requests window

42

IFMS-GRN

DO070 Fixed Asset

Retiring a single Asset

TO RETIRE AN INDIVIDUAL (SINGLE) ASSET: You can partially or fully retire an asset, either by cost or units. RESPONSIBILITY: OMAs (FA User(s)) are responsible for partially retiring an asset. Note: MOF Asset Division (FA Superusers) is responsible for fully retiring an asset. Thus, the respective OMA must follow the usual procedures set for retiring an asset as before. * To partially retire an asset: When an asset is on loan, went for repairs or just temporarily issued out.

To retire an asset Navigate to:

(N)Assets Workbench Asset WorkbenchRetirement

Find the Asset that you want to retire. Suggestion: For best performance, query by asset number since it is a unique value.

Click Retirement Button to retire the asset from the system.

43

IFMS-GRN

DO070 Fixed Asset

This retirement window opens:

1.

Enter the number of units or cost you want to retire in the Units Retired and Costs retired fields respectively as in the slide shown above. Attention: If you partially retire Units, you must press Continue Button to specify which units to retire in the Assignments window. Note: The units you want to retire as a negative number in the Unit Change field then press the Done Button.

2.

Optionally calculate gains and losses to change the status of the retirement transaction from PENDING to PROCESSED.

Note: OMA FA Users should request MOF Asset Division (FA Superusers) to perform the above process for them, in order for the OMA FA Users to be able to perform the Retirement Function. MOF Asset Division (FA Superusers) also need to Run Depreciation in order for OMA FA Users to perform the Retirement Function and this will be done every end of each month for all the OMA by MOF Asset Division (FA Superusers).

44

IFMS-GRN

DO070 Fixed Asset

Mass Retirement (N) Mass Transactions Create and Reinstate The Mass Retirement window opens:

1) Select the FA Book for the respective OMA (ministry) 2) Enter the Expense Accounts: 99.9999.999.0000.000000.000000.0000.00 3) Enter the Location 4) Enter the specific Category intended to be retired e.g. it can be HP 5500s or any other category. 5) Enter Asset Key: 000000.000000.000000.000000 6) Optionally, one can also retire by Asset Number range or Date Placed in Service.

45

IFMS-GRN

DO070 Fixed Asset

7) Click the Create button (a requested will be submitted automatically when this is done).

8) Navigate: ViewRequestFind (here one will find the Create Mass Retirements request submitted).

9) Keep on clicking the Refresh Data button until the status are Completed and Normal. Then click View Output button to view the report.

46

IFMS-GRN

DO070 Fixed Asset

10) Below is the report (note that the request ID correspond with the one on the above pages request ID.

11) Once the above process is done, navigate back to the Mass Retirement window and query for the assets for which you Created Mass Retirements for. Tip: to query press the F11 key and again F11 and Ctrl/Control keys together to perform the query.

12) Notice how the Status changed from New to Created. Click on the Retire button to complete Mass Retirement process.
47

IFMS-GRN

DO070 Fixed Asset

13) Then run the Calculate Gains and Losses program. Navigate: DepreciationCalculate Gains and Losses.

14) Click on View Output button in order to view the Mass Retirement Report. Navigate: ViewRequestFind.

48

IFMS-GRN

DO070 Fixed Asset

49

IFMS-GRN

DO070 Fixed Asset

Reinstating a single Asset [Correcting Retirement Errors]

You cannot reinstate assets retired in the previous fiscal year. You can reinstate only the most recent partial retirement. You can reinstate both individual and mass retirement transaction.

(N)Assets Workbench Asset Workbench

1) Find the asset you want to reinstate. 2) Suggestion: For best performance, query by asset number since they are unique values. 3) Click Retirements.

50

IFMS-GRN

DO070 Fixed Asset

4) Query the retirement transaction you want to undo. Tip: Press F11 to query

5) Press Ctrl (Control) and F11 keys to perform the query

6) One notice that the Reinstate button is active 7) Once the information appears on the screen, verify that the information is correct and press the Reinstate button.
51

IFMS-GRN

DO070 Fixed Asset

8) Run the Calculate Gains and Losses program. (N) DepreciationCalculate Gains and Losses

Note: Reinstatement Transactions PENDING Asset Retirement When you reinstate an asset retired in the current accounting period that the calculate gains and losses program has not yet processed, the retirement transaction status is DELETED, and the asset is immediately reinstated. No journal entries are created. PROCESSED Asset Retirement When you reinstate an asset retired in a previous accounting period or already processed in the current period, the existing retirement transaction gets a new status REINSTATE, and the asset is reinstated when you process retirements. Oracle Assets creates journal entries to catch up any missed depreciation expense.

52

IFMS-GRN

DO070 Fixed Asset

Mass Reinstatement (N) Mass TransactionsCreate and Reinstate

Notice that the Status is Completed and the Reinstate button is active.
1) Click the Reinstate button, in order to reinstate the group of assets that were retired (Mass Retirement).

53

IFMS-GRN

DO070 Fixed Asset

2) Once the Reinstate button is clicked, query for the same group of assets reinstated. Notice how the status changed from Completed to Reinstated.

54

IFMS-GRN

DO070 Fixed Asset

CHAPTER

Assets Depreciation
This chapter explains how Oracle Assets calculates depreciation for asset.

55

IFMS-GRN

DO070 Fixed Asset

Topical Essay

Running Depreciation Projection

RESPONSIBILITY: MOF Asset Division (FA Superusers) are responsible for Running Depreciation for the respective OMAs, in order for the OMAs to perform most of the Maintenance Functions

Running Depreciation
It should be noted that in Oracle Assets, to open and close an accounting period, the depreciation program has to be run to close the current period and move to the next period. Running depreciation does not mean that the depreciation and accumulated depreciation amount calculated will affect the General Ledger. When the depreciation program is run whatever calculated amount generated remain in the Oracle Assets module. Since GRN does not charge depreciation, the functionality Journal Entries which post Assets accounting entries to General Ledger will not be used. If you check the Close Period check box on the Run Depreciation window. If all of your assets depreciate successfully, Oracle Assets automatically closes the period and opens the next period for the book. If you do not check the Close Period check box when you run depreciation, Oracle Assets does not close the period.

56

IFMS-GRN

DO070 Fixed Asset

CHAPTER

Physical Asset Count

This chapter explains how to perform Asset stock count to ensure that the assets a
company has listed in its production system match the assets it actually has in inventory. Perform physical inventory by manually looking at all assets to ensure they exist as recorded, are in the appropriate locations, and consist of the recorded number of units.

57

IFMS-GRN

DO070 Fixed Asset

Topical Essay
Physical Asset Count
Use the integrator to perform Physical Inventory, upload data to Oracle Assets and compare the result to the Asset Register Asset information. At the end of the year, perform Physical count of assets on where they resides. View and Perform adjustment if there is any variance. Physical count is performed and transfer to Oracle asset through ADI. Use this Sheet to load asset physical count to asset register. Physical InventoryIntegrator StartAll ProgramsOracle ADI Application Desktop Integrator Click on a Hand Icon to sign in

Enter your logins details

Click OK Button (right mark green icon) Select the Responsibility: e.g. VET FA USER

Click OK Button (right mark green icon) Click on Asset Icon

58

IFMS-GRN

DO070 Fixed Asset

Click Record Physical Inventory Select the inventory

Select Layout Click whether to create a New Workbook or Current Workbook Click OK

59

IFMS-GRN

DO070 Fixed Asset

Fill in the required field and Post it to Oracle Asset

To be able to enter values in the sheet, the sheet needs to be unprotected. - Click on Tool Protection Unprotect Sheet Enter information required in fields.

60

IFMS-GRN

DO070 Fixed Asset

To Upload Physical Inventory to Oracle Asset (Asset Register): - Click on Asset Icon on ADI Toolbar - Click Upload to Interface

Upload Physical Inventory to Interface window opens :

Check or Flagged Rows to Import information entered in rows Check Increment Units Check Run Comparison Check View Results Click Ok Button (Right Green Button)

61

IFMS-GRN

DO070 Fixed Asset

The will be a message displayed you to alert you if the information was loaded or not.

To view information loaded: Log in to Oracle Assets NPhysical InventoryComparisonView

1. 2.

Enter Inventory name Click Find A window with Asset Information from the Asset Register and Physical Inventory will be displayed, showing the variances.

62

IFMS-GRN

DO070 Fixed Asset

CHAPTER

Assets Online Inquiry

This chapter explains how to view assets and transactions online in Oracle
Assets. You can view descriptive details, financial information, source lines, depreciation history, cost history, and transaction history for an asset.

63

IFMS-GRN

DO070 Fixed Asset

Assets Inquiry
1. Use the Financial Information windows to view descriptive and financial information for an asset.

(N) InquiryFinancial Information

2. To query on an asset, In the Find Assets window, you can use the pop list to find assets by Detail. You can enter search criteria in one or more tabbed regions.

For best performance, query by asset number or tag number since they are unique values. 3. Choose the Find button to query the asset(s) you want to review. The View Assets window shows you detail information for the asset(s) you query. If you press the Find button, without specifying any criteria, the system will retrieve all Assets information of that respective OMA. 4. Click the Books button to view financial information for the asset.

64

IFMS-GRN

DO070 Fixed Asset

View Financial Information window opens:

5.

The View Financial Information window allows you to: Choose Transactions Button to review transaction history of that specific asset in the Transaction History window. To view individual transaction details for this asset, check a transaction and choose Details to open the Transaction Detail window. Choose Depreciation to review depreciation history of that specific asset. Choose Cost History to review cost history of that specific asset.

6.

The View Financial Information window includes the asset you choose in the title, and lists, by depreciation book, financial information for the asset. Choose Transactions Button to review transaction history of this asset in the Transaction History window. To view individual transaction details for this asset, check a transaction and choose Details to open the Transaction Detail window. Choose Depreciation to review depreciation history for this asse Choose Cost History to review cost history of this asset

65

IFMS-GRN

DO070 Fixed Asset

CHAPTER

Standard Assets Reports

This chapter explains some of the most important Oracle Assets standard
reports and listings. It provides step-by-step instructions for submitting a request, and explains report parameters and headings common to each Oracle Assets report.

66

IFMS-GRN

DO070 Fixed Asset

Running Standard Reports and Listings

Use Oracle Assets standard reports and listings to analyze and track your accounts Payables information.

List of Oracle Assets regularly used reports:

1- Assets Additions Report 2- Asset Register Report 3- CIP Capitalization Report 4- Asset Retirements Report 5- Assets Transfers Report 6- Physical Inventory Comparison Report 7- Reclassification Report

67

IFMS-GRN

DO070 Fixed Asset

Navigate to Submit Request window.

(N) Others Requests Run OR

(N) ViewRequests

Click on OK

68

IFMS-GRN

DO070 Fixed Asset

The Submit Request window opens:

1. 2. 3. 4.

Click on the list values [] to view all the standard reports available Select the Name of the request (report or program) you want to run from the LOV in the Name field or Type the name of the report, if the report is known Click OK

69

IFMS-GRN

DO070 Fixed Asset

A Parameters window automatically appears (if you select a request that requires parameter values). Use the LOV to display a list of valid values for a special parameter Once you enter the values in the required parameter fields and choose OK, The Parameters window closes, Your parameter values will be displayed in the Parameters field.

Press Submit Button to submit a concurrent process to run the Report.

To view your Report, Navigate to the Requests window by choosing View from the Menu Bar then View Requests. Please NOTE: in order to obtain a Normal and Completed Report/Output, one need to continue pressing the Refresh Data Button until the Phase = Completed and Status = Normal.

70

IFMS-GRN

DO070 Fixed Asset

The Request window opens:

71

IFMS-GRN

DO070 Fixed Asset

NOTES: _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________
72

IFMS-GRN

DO070 Fixed Asset

_____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________
73

IFMS-GRN

DO070 Fixed Asset

_____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________
74

IFMS-GRN

DO070 Fixed Asset

_____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________

75