FA IMPLEMENTATION

[EMANUEL]

Hi,
Please let me know the strategy for Implementation of Fixed Assets in Oracle Apps , eg,

1. How to Load the GL Trial Balance from Legacy to Oracle for FA Items in the middle of the year i.e when the Client in going live
2. How to add the Assets in FA in that date and what should be the value should it be gross or net ?
3. Should the date place in service be the actual historical date when the asset was purchased, etc.


Rgds

[oteixeira]

Hello Emanuel.

Answering your questions:

1. How to Load the GL Trial Balance from Legacy to Oracle for FA Items in the middle of the year i.e when the Client in going live
You can use WEB ADI

2. How to add the Assets in FA in that date and what should be the value should it be gross or net ?
You must load the Asset Cost and the Accumulated Depreciation, which, in the period of addition is equal to YTD Depreciation.

3. Should the date place in service be the actual historical date when the asset was purchased, etc.
Yes, you should keep the historical DPIS.

Hope this helps.
Octavio.

[EMANUEL]

Hi Octavio,

Actually my meaning to Load the asset in the Point 1 was meant by which values of Assets in Legacy should be taken in apps. GL TB, the Net book value or the Gross value

As the there will be difference if the Gross value coming from FA to GL and net book value coming from Legacy to apps in GL ?

And which entries should be reversed in GL to match the final balances of GL with FA ?

Please can you give some example on this.

Rgds
Emanuel

[oteixeira]

Hi Emanuel.

First, in your legacy system, TB must match both the Cost and the Accumulated Depreciation of the assets to be uploaded to FA. This is essential because you should have already uploaded your legacy TB to GL. You must use the asset cost and the accumulated depreciation, not the net or gross value.
After uploading the assets into FA, the system will produce journal entries:
For the assets cost:
DR Asset Cost
CR Asset Clearing

For the assets accumulated depreciation:
DR Asset Clearing
CR Deprn Reserve

As the system allows to create the journals without immediately posting them to GL, you may choose between:
-Post the journals and reverse them.
-Delete the journals without posting them. Just export them to Excel and save for eventual research.

Hope this helps.
Octavio