Oracle Applications Raghu

Monday, 30 March 2009

End to end configuration of Oracle Fixed Assets module

Oracle Assets streamlines operations and simplifies the management of capital investments,  automated business flows, calculate depreciations, managing fixed assets cycle and centralized accounting rules.  Oracle Assets also integrates with external non oracle systems to complete processing of asset transfers, disposals, reclassifications, financial and tax adjustments, and legacy data conversions.I have produced here end to end configuration of Fixed Assets module. This module is SOB / Ledger based. I have covered even from Sys admin so that users can duplicate and practice to configure entire FA module. Reader should know how to configure GL book / Ledger to practice this.Oracle Assets integrates with Oracle Payables – Automate asset additions as part of the procure-to-pay process to interface depreciable capitalized assets. Oracle Projects – Track construction-in-process project costs and capitalize them via integration with Oracle Projects. Oracle General Ledger – Central repository ledger to gather accounting and report.Oracle Application Desktop Integrator – Create assets and import physical inventory from spreadsheets.  Steps to configure FA1Define responsibility for FA – super user menuDefine this from Sys admin responsibility.

2Attach GL book to your FA responsibilityDefine this from Sys admin responsibility.

3Configure 3 KFF - this is one per instanceDefine this from Sys admin responsibility.

3 a – Category KFFAlways major category and minor category – two segmentsAlways major category – independent validation type Always minor category – dependent validation type

Major category Flexfield qualifier

Minor category will depend on major categoryAssets key Flexfield

Location Flexfield

4Define values for major and minor categoriesDefine this from Sys admin responsibility.

Define value for major category

Defining values for minor category

5Asset key Flexfield valuesDefine this from Sys admin responsibility.

6Similarly for location Flexfield values – define values for country, city, state and buildingDefine this from Sys admin responsibility.7System control – one per instanceDefine this in Oracle Assets module.

Grouping of 3 KFF and defining the assets number logicDefine the first automatic FA number and give provision for manual numbering (for data conversion from legacy to Oracle) while configuring the first auto number.

7 Define Fiscal yearDefine this in Oracle Assets module.

Define the year based on the system control year8Define FA calendarDefine this in Oracle Assets module.This name should be same as GL calendar name appears in GL calendar formAttach FA fiscal year defined in earlier step while defining FA calendarAlways define at least one period before the first period put into use.

8Prorate conventionDefine this in Oracle Assets module.The date when depreciation is to be calculated

9Define Corporate bookDefine this in Oracle Assets module.

Defining Assets book – Corporate book

10Define depreciation methodDefine this in Oracle Assets module.

Oracle by default will have seeded depreciation methods – WDV, formula, STL etc

11Define assets categoriesDefine this in Oracle Assets module.

Attach major and minor categories to our FA book with depreciation method

Here we define assets category with – major and min

or categories, link to FA book and depreciation method, attach assets cost, depreciation account and asset clearing accounts.

Attach depreciation

Important points

There is no open and close period in FA – it is based on APThere are three ways to create assets in FA – One create invoice in AP and transfer to FA. Second manually create assets in FA and third quick assets creation in FA. However, second and third options are not recommended as we are force to create again invoice manually in AP. Also capital project invoice can be created from PA to FA.

Posted by Raghuraman at 06:09:00

2 comments:

Muhammed Arif said... this doc here seems like a setup on 11i

I am on R12, trying to setup assets module

could you help me in doing so if you got the needful expertise

RegardsArif, Muhammed 6 February 2010 01:16

anuj said... Hello Muhammed,

Did you get the updated version of the FA setup R12.

If u have it, can you please help me.

Thanks & RegardsAnuj 27 May 2011 01:09

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An independent consultant strong in Oracle E Business Suite 10.7,11.03,11i,R12 and has over 14 years of consulting experience and delivered projects spread across EMEA & America based on AIM and Prince2 methodology. Expert in functional, technically competent and has good finance & accounting (ACCA, ICWA, MBA) background. I have got rich experience in end to end implementations, rollouts and version upgrade of Financials, Projects and Supply chain. Send your email to raghuramanerp@gmail.com

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