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Hi FA GURUS,


I have some doubts in Fixed assets Module please give me your valuable answers.

If you answer one by one i am very thank ful to you. Please Give me remaing answers.




1. How many flexifields available in FA module. what are they?

2. While implementing FA module we have to define separate location flexifield for FA like AR module or we can use the Vision Operations ?

3. What do you mean by prorate convention? give me brief introduction about Prorate convention?

4. Which calendar is most suitable for FA Module? Give me One perfect example with different calendars?

5. Why could we define Asset book? In which scenario we may maintain more than one asset book?

6. What are the mandatory accounts for FA module?

7. What do you mean by CIP Asset? Explain the importance of CIP Asset in FA module.

8. What do you mean by Asset types in FA? How many types are available in FA module? explain the Purpose and usage of those types?

9. What do you mean by Asset tracking?

10. What do you mean by asset amortization? what is impact of amortization in FA module?

11. When we will capitalise the CIP assets, expalin me some ex?

12. what is the difference between depreciation and adjustment in FA module?

13. What is the difference between Roll back depreciation report and depreceation projection report?

14. Expalin briefly " What if Analysis"?

15. How many asset retirement types are available in FA module. What are they.? give brief introduction of those types?


THanks & Regards
ANJAN

9.

i would spend some time to reply one or two questions rest i will pass on to others
1. ASSET FLEXFILEDS
Key flexfield
there are 3 key flexfelds in asset module 1. category 2. location and 3rd is asset key
plus there are also some other flexfields like we need to tell system on which GL account depreciation should be charged so GLCC is required to fill also. plus other descriptive flexfields include asset model number , manufacturer name etc.

2. NO WE NEED TO IMPLEMENT THE LOCATION FLEXFIELD SEPARATELY and that location ff is compulsory not vision ops.

3. doubtful
4. asset calendar
perhaps u are asking in the scenario of depreciation?

rest i leave on other gurus
mohsin

3-regarding prorate convention ..it is used to record the asset addition and retirement procedures, it is a calendar which exhibit that from which date to which date it was in our use and how much depreciation we have cal for that ,it is also dependent on the company policy that
*we will charge the depreciation in the very first period but not in the end(at the time of disposal)
*time we retain it means full
*or vice versa of the first
4-usually companies preferred to use the 2nd one or according to Tax rules because it is also a method to conceal profit
5-in the scenario mentioned above means major conflict due to tax or subsidiary of
A foreign company which has different methods of book keeping
6-all those given in yellow color in book sys
7-CIP assets means construction in progress assets it is used to know the current value of an asset when it is in the stage of completion
8-i think asset type is the same as I have written in 6 in addition to normal asset
Kindly check the remaining question in user guide

there are two type of retirement.
1 retiremetn by units
2 retirement by cost

review your asset and click on retirement tab there u can do retirement by units or cost
1.retirment by units means , u specify number of units u want to retired from books
2. retirment by cost menas . u only specify cost which should be retired on asset. u won't specify uints.

you can do this do in retirement window

hai can anyone give me info about inter-company transactions

i will answer to remaining questions

11. when the asset is in work-in-progress status, is called CIP asset. like building construction. at this stage we won't calculate the depreciation. once the building construction is completed that should be capitalised, and dep starts.

13. roll back dep means we can revert back the depreciation for current run period. projection means we can view the dep amt for future periods without running dep program