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Asset Additions

Chapter 2

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Entering Assets
Detail Additions
Use the Detail Additions process to manually add complex assets that the
QuickAdditions process does not handle.
Attention: The Detail Additions process requires you to provide
descriptive, financial, and assignment information in the Asset Details,
Books, and Assignments windows.
Required Fields:
Description
Category
Asset Key
Amount
Depreciation Expense Account
Location
To add an asset specifying detail information:
Step 1. Navigate to the Find Assets window.
NAssetsAssets Workbench
Step 2. Choose New.
Step 3. In the Asset Details window, enter a Description for the asset,
Category (Major & Minor) and Asset Key.
Do not enter an Asset Number, the Asset Number will be
automatically created when the record is saved.
The asset key allows you to group assets or identify groups of
assets quickly. For example, use an asset key to group assets by
project.
Step 4. Choose the Asset Type Capitalized.
Step 5. Enter the number of Units.
Step 6. Optionally enter the following fields:
Tag Number - If you enter a tag number, it must be unique. A
tag number uniquely identifies each asset. For example, use the
tag number to track asset barcodes, if you use them.
Serial Number.
The Parent Asset number.
Manufacturer and Model of your Asset.
The Warranty Number if you want to assign a pre-defined
warranty to an asset.

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The Lease Number if you are adding a leased asset in a leased


asset category.
Choose whether to include the asset in physical inventory
comparisons. By default, the In Physical Inventory check box
is set according to the asset category you specified, but you can
override that value here.
Property Type and Property Class, and whether the asset is
Owned or Leased and New or Used.
Choose Source Lines to enter information such as the Supplier
Name and Purchase Order Number for the asset.

Step 7. Choose Continue.


Step 8. In the Books window choose the Corporate Book.
Step 9. Enter the Current Cost.

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Step 10. Optionally, enter the Salvage Value.


Step 11. Specify the assets Date In Service.
If the current date is in the current open period, the default date
placed in service is the calendar date you enter the asset. If the
calendar date is before the current open period, the default date
is the first day of the open period. If the calendar date is after
the current open period, the default date is the last day of the
open period. Accept this date, or enter a different date placed in
service.
Step 12. Indicate whether you want to Depreciate the asset.
Step 13. If necessary, override the Depreciation Method and associated
depreciation information defaulted from the category.
YTD Depreciation and Accumulated Depr fields should not be
filled in unless you are converting an asset that has already been
depreciated.
Step 14. Choose Continue.
Step 15. In the Assignments window enter Unit Change (equals to Total
Units).
Step 16. Optionally enter the Employee Name or Number of the person
responsible for the asset.
Step 17. Enter the default Expense Account to which you want to charge
depreciation.
Oracle Assets defaults the natural account segment from the
category and the book.
Step 18. Enter the physical Location of the asset.

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NOTE: If you have multiple units and each is assigned to a different


employee, expense account or location, then repeat steps 15 18 for each
unit.

Step 19. Choose Done.


An Asset Number will be automatically assigned.

Entering CIP Assets


Step 1. Navigate to the Find Assets window.
NAssetsAssets Workbench
Step 2. Choose New.
Step 3. In the Asset Details window, enter a Description for the asset,
Category (Major & Minor) and Asset Key.
Do not enter an Asset Number, the Asset Number will be
automatically created when the record is saved.
The asset key allows you to group assets or identify groups of
assets quickly. For example, use an asset key to group assets by
project.
Step 4. Choose the Asset Type CIP.
Step 5. Enter the number of Units.
Step 6. Optionally enter the following fields:
Tag Number - If you enter a tag number, it must be unique. A
tag number uniquely identifies each asset. For example, use the
tag number to track asset barcodes, if you use them.
Serial Number.
The Parent Asset number.

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Manufacturer and Model of your Asset.


The Warranty Number if you want to assign a pre-defined
warranty to an asset.
The Lease Number if you are adding a leased asset in a leased
asset category.
Choose whether to include the asset in physical inventory
comparisons. By default, the In Physical Inventory check box
is set according to the asset category you specified, but you can
override that value here.
Property Type and Property Class, and whether the asset is
Owned or Leased and New or Used.
Choose Source Lines to enter information such as the Supplier
Name and Purchase Order Number for the asset.

Step 7. Choose Continue.


Step 8. In the Books window choose the Corporate Book.
Step 9. Enter $0 as the Current Cost.
To add costs to this new CIP asset, you must enter source lines
for the asset. The source lines will be totaled for the cost of the
asset when you place it in service. The source lines can be
accessed through the Asset Workbench.

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Step 10. Optionally, enter the Salvage Value.


Step 11. Specify the assets Date In Service.
If the current date is in the current open period, the default date
placed in service is the calendar date you enter the asset. If the
calendar date is before the current open period, the default date
is the first day of the open period. If the calendar date is after
the current open period, the default date is the last day of the
open period. Accept this date, or enter a different date placed in
service.
Step 12. Indicate whether you want to Depreciate the asset.
Step 13. If necessary, override the Depreciation Method and associated
depreciation information defaulted from the category.
YTD Depreciation and Accumulated Depr fields should not be
filled in unless you are converting an asset that has already been
depreciated.
Step 14. Choose Continue.
Step 15. In the Assignments window enter the number of units in the Unit
Change column.
Step 16. Optionally enter the Employee Name or Number of
the person responsible for the asset.
Step 17. Enter the default Expense Account to which you
want to charge depreciation.
Oracle Assets defaults the natural account
segment from the category and the book.
Step 18. Enter the physical Location of the asset.

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NOTE: If you have multiple units and each is assigned to


a different employee, expense account or location, then
repeat steps 15 18 for each unit.

Step 19. Choose Done.


An Asset Number will be automatically assigned.

Quick Additions
To add an asset quickly accepting default information:
Step 1. Navigate to the Find Assets window.
NAssetsAsset Workbench
Step 2. Choose QuickAdditions from the Find Assets window.
Step 3. Enter the following required fields:
Description

Category
Asset Key
Book
Cost
Expense Account

Location.
Step 4. Choose Done.

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Correcting Current Period Addition Errors


If you incorrectly added an asset, you can delete it from the system. You
can only delete assets added in the current period.
To delete an asset you added in the current period:
Step 1. Navigate to the Find Assets window.
NAssetsAsset Workbench

Step 2. Choose Find to query the asset you want to delete.


Note: For best performance, query by asset number or tag
number since they are unique values.

Step 3. Choose Open.


Step 4. From the menu, select EditDelete.
Step 5. Save your change to delete the asset from the system.

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To change descriptive, financial, or assignment information for an


asset you added in the current period:
Correct any information for an asset added in the current period in any of
the following windows: Asset Details, Source Lines, Books, and
Assignments.

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Mass Additions Overview


Overview of the Mass Additions Process
The mass additions process lets you add new assets from your Accounts
Payable system to your system automatically without reentering the data.
For example, you can add new assets from invoice lines brought over to
Oracle Assets from Oracle Payables.
Mass Additions Process Steps
Oracle
Payables
Step
1
Create

Enter invoices in Oracle Payables, or


source information in any other feeder
system

Step 2

Run the Payables Accounting Process


and the Payables Transfer to General
Ledger Program

Step 3

Run the Create Mass Additions


program

Oracle
Assets
Step
4

Review

Review mass additions to become


assets

Step 5

Add mass addition lines to existing


assets

Step 6

Split, merge, or adjust mass additions

Step 7

Post

Post your mass additions to Oracle


Assets

Step 8

Cleanup

Delete unnecessary and posted mass


addi-tions

Step 9

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Purge deleted mass addition lines


from Oracle Assets

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Mass Addition Queues


Each mass addition belongs to a queue that describes its status, and the
queue name changes according to the transactions you perform on the mass
addition. You can define your own mass additions hold queues in the
QuickCodes window. The following table describes each Oracle Assets
mass addition queue name:

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Creating Mass Additions


Entering Assets through Accounts Payable
Two points to mention about the invoice when entering assets through the
Oracle Payables application.
Invoice Description Field
Any additional information you enter in the Description field in the Invoices
Summary window in Payables appears in the Description field in the Mass
Additions window in Oracle Assets. Discount line distributions brought
over to Oracle Assets automatically have a description of DISCOUNT.
Units
If you enter a purchase order in Purchasing with multiple units and match it
completely to an invoice in Payables, the Create Mass Additions process
uses the number of units specified by the original purchase order for the
mass addition line. Mass addition lines created from invoices entered
directly into Payables without matching to a purchase order default to one
unit. You can update the number of units in the Mass Additions window.

Oracle Payables
Entering the Asset Invoice
Step 1. Enter the Asset invoice as normal.
Match to a Purchase Order, if applicable.
Step 2. Choose the Distributions button and enter the distributions.
Step 3. Choose a distribution Type of Item.
Step 4. Enter the distribution Amount and the GL Account.
A fixed asset clearing account must be used.
Fixed asset clearing account numbers begin with 161.
Payables automatically enables the Track as Asset check box
and you cannot change it.
If you enter an expense account and want to import this
distribution to Oracle Assets, enable the Track as Asset check
box.

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Step 5. Approve the invoice and remove any holds placed.


Step 6. Save your work.

Transferring the Asset Invoices from Payables to General


Ledger
Step 1. Run the Payables Accounting Process and the Payables Transfer to
General Ledger programs.
NOtherRequestsRun

Creating the Asset


Step 1. Navigate to the Submit Request window.
NOtherRequestsRun
Step 2. Submit a request to run the Mass Additions Create program. (Be
careful not to choose the Mass Additions Create Report.)
Enter G/L Date and Book
Step 3. Review the log to ensure the asset was transferred.

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Preparing Mass Additions


Oracle Assets
You must review newly created mass addition lines and prepare them to
become assets by adding additional required fields not entered on either the
invoice or purchase order. These include the category, description, expense
account, location and asset key. Once all the required fields are added, the
status of the mass addition line must be changed to POST in order for the
Post Mass Additions Program to create it as a new asset.

Prepare Mass Additions


Step 1. Navigate to the Prepare Mass Additions window.
NMass AdditionsPrepare Mass Additions
Step 2. In the Find Mass Additions window find Mass Additions with the
Queue name NEW.
Note: If you want to find mass additions by Invoice Number, PO Number,
or Supplier Number, your search criteria must match exactly, including
capitalization.
Step 3. Choose Find.

Step 4. Choose the mass addition line you want to review, and choose
Open.
Step 5. In the Mass Additions window Header region, enter:

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Category
Expense Account
Location
Description

Optionally enter Employee Name.


Step 6. Choose the Asset, Depreciation tab.
Enter the Asset Key.
Step 7. Optionally enter the following fields:
Tag Number - If you enter a tag number, it must be unique. A
tag number uniquely identifies each asset. For example, use the
tag number to track asset barcodes, if you use them.
Serial Number.

The Parent Asset number.


Manufacturer and Model of your Asset.
Choose whether to include the asset in physical inventory

comparisons. By default, the In Physical Inventory check box is


set according to the asset category you specified, but you can
override that value here.
Do not enter an Asset Number, one will be automatically
created.
Step 8. If you want to assign this mass addition to multiple distributions,
or you want to review or change existing distributions, choose the
Assignments button.
Step 9. In the Assignments window enter the number of units in the Unit
Change column.
Step 10. Optionally enter the Employee Name or Number of
the person responsible for the asset.
Step 11. Enter the default Expense Account to which you
want to charge depreciation.
Oracle Assets defaults the natural account
segment from the category and the book.
Step 12. Enter the physical Location of the asset.
Step 13. If you are ready to turn a mass addition line to an asset, use the
list of values and change the Queue name to POST.

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Step 14. Choose Done to save your work.


To place a group of mass additions in the POST queue:
Step 1. Navigate to the Prepare Mass Additions window.
NMass AdditionsPrepare Mass Additions
Step 2. Use the Find Mass Additions window to query the group of mass
additions you want to place in the POST queue.
Oracle Assets displays the mass additions that meet your search
criteria in the Mass Additions Summary window.
Step 3. From the menu, choose Tools, Post All.
Caution: Oracle Assets places EACH mass addition that meets
your search criteria into the queue you specify.
Post All: Oracle Assets checks each mass addition, ensures that
it is prepared for posting, and places it in the POST queue. If it
encounters a problem with a mass addition, Oracle Assets alerts
you with an error message and terminates the Post All process.
Note that this mass addition and all other subsequent mass
additions are not yet in the POST queue.
To add a mass addition line to an existing asset:
Attention: You can only perform cost adjustments for mass additions in
the NEW or ON HOLD.
Step 1. Navigate to the Prepare Mass Additions window.

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NMass AdditionsPrepare Mass Additions


Step 2. Find the mass addition(s) for this transaction in the Find Mass
Additions window.
Step 3. Choose the mass addition line you want to add to an existing asset
as a cost adjustment.
Step 4. Choose Add to Asset.
Step 5. Query and choose the asset to which to add the line.
You can find assets by Asset Detail, Assignment, Source, and
Lease.
Step 6. Choose whether to amortize or expense the adjustment to the
existing asset.
Step 7. Check New Category and Description to change the category and
description of the existing asset to those of the mass addition you are
adding as a cost adjustment.
Step 8. Save your work.
Step 9. Choose Open and change the queue name to POST.
Step 10. Save your work.
To undo an addition to an existing asset:
Step 1. Navigate to the Prepare Mass Additions window.
NMass AdditionsPrepare Mass Additions
Step 2. Find the mass addition(s) for this transaction in the Find Mass
Additions window.
Step 3. Choose the cost adjustment you want to undo in the Mass
Additions window.
Step 4. Choose Remove from Asset.
Step 5. Save your work.
To merge mass addition lines:
Attention: You can only merge mass additions in the NEW, ON HOLD, or
POST queues.
Step 1. Navigate to the Prepare Mass Additions window.
NMass AdditionsPrepare Mass Additions
Step 2. Find the mass addition(s) for this transaction in the Find Mass
Additions window.
Step 3. Choose the mass addition line into which you want to merge other
lines (the merged parent).
Step 4. Choose Merge.
Step 5. Choose whether to sum the number of units or keep the original
number of units for the line.
The Units field shows the total units for the new merged mass
addition, depending on the value of the Sum Units check box.
The Merged Units field displays the sum of childrens units only.

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If you are merging a multidistributed mass addition, and you


do not check the Sum Units check box, Oracle Assets uses the
distribution of the merged parent for the new merged mass
addition line. If you check the Sum Units check box, Oracle
Assets uses BOTH the merged parent and child distributions for
the new merged mass addition line.
If you are adjusting the cost of a parent mass addition, and Sum
Units is checked, you are cost adjusting the SUM. Otherwise,
the adjustment difference is applied to the parent line only.
Step 6. In the Merged Lines block, choose the line(s) you want to merge
into the merged parent.
If you want to merge all the lines, choose Tools, Merge All from
the menu.
Oracle Assets assigns the line(s) to the MERGED queue.

Note: If you use the default query or blind query, only the other

lines in the same invoice are shown. Use Query Run with a %
in any field to bring up all potential invoice lines for the same
book.
Step 7. Save your work.
To undo a merge:
Step 1. Navigate to the Prepare Mass Additions window.
NMass AdditionsPrepare Mass Additions
Step 2. Find the mass addition(s) for this transaction in the Find Mass
Additions window.
Step 3. Choose the merged parent(s) you want to undo.
Step 4. Choose Merge.
Step 5. Uncheck the line(s) for which you want to undo the merge.
If you want to unmerge all the lines, choose Tools, Unmerge All
from the menu.
Step 6. Save your work.
Oracle Assets changes the queue name for the unmerged lines to
the original queue name before the merge.
To split a mass addition line:
Step 1. Navigate to the Prepare Mass Additions window.
NMass AdditionsPrepare Mass Additions
Step 2. Find the mass addition(s) for this transaction in the Find Mass
Additions window.
Step 3. Choose the mass addition line that you want to split.
Step 4. Choose Split.

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Oracle Assets splits the line into multiple single unit mass
addition lines.
For example, if your asset has five units, this process will create
five separate assets and delete the original asset.
Review the new lines in the Mass Additions window.

Note: This also splits any merged children on the line, and
keeps them merged into the split child.
Note: If you split a multidistributed mass addition line, Oracle
Assets proportionately divides each split childs unit between all
of the parents distributions.
To undo a previously split mass addition line:
Choose the split mass addition line you want to undo in the Mass Additions
window. Choose Undo Split. You can undo a split only before posting the
split children.

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Posting Mass Additions


Posting Mass Addition Lines to Oracle Assets
When you post mass additions, Oracle Assets creates assets from your
mass additions in the POST queue and adds mass additions in the COST
ADJUSTMENT queue to existing assets.
Step 1. Choose Mass AdditionsPost Mass Additions from the
Navigator.
Step 2. In the Parameters window, specify the corporate book for which
you want to post your mass additions.

Step 3. Choose Submit to submit a concurrent process to post your mass


additions to Oracle Assets.
When the program completes successfully, Oracle Assets
automatically runs the Mass Additions Posting Report, which
gives you an audit trail of the processed mass additions.
Step 4. Review the log file and report after the request completes.

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Deleting Mass Additions


The Delete Mass Additions program removes mass additions in the
DELETE and POSTED queues. Mass addition lines which should be not
created as assets can be manually changed to a status of DELETE. The
queue name for all assets in the prepare mass additions which have been
posted will be changed to POSTED automatically when the Post Mass
Additions Program is run. To remove both of these types of transactions
from the prepare mass additions temporary table, run the Delete Mass
Additions program. The program also removes SPLIT parents if the split
children have been posted or deleted.
To delete mass additions from Oracle Assets:
Step 1. Navigate to the Prepare Mass Additions window.
NMass AdditionsPrepare Mass Additions
Step 2. In the Find Mass Additions window query the Mass Additions.
Step 3. Choose the mass addition line you want to review, and choose
Open.
Step 4. Change the queue name to Delete for unwanted or erroneous mass
addition lines.

Save your work.


Step 5. Navigate to the Submit New Request window.
NOtherRequestsRun

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Step 6. Submit a request for the Delete Mass Additions Preview Report
and review the report to verify the assets you wish to delete.

Step 7. Choose Mass AdditionsDelete Mass Additions from the


Navigator.
Step 8. In the Parameters window, specify the corporate book for which
you want to clean up mass additions.
Step 9. Choose Submit to submit a concurrent process to remove the
lines.
When the program completes successfully, Oracle Assets
automatically runs the Mass Additions Delete Report, which
gives you an audit trail of the processed mass addition lines.

Step 10. Review the log file and report after the request completes

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