r12.x oracle asset management fundamentals...

R12.x Oracle Asset Management Fundamentals Practices Activity Guide

D59987GC10

Edition 1.0

March 2010

D64879

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Copyright © 2008, 2010, Oracle and /or its affiliates All rights reserved. Disclaimer This document contains proprietary information and is protected by copyright and other intellectual property laws. You may copy and print this document solely for your own use in an Oracle training course. The document may not be modified or altered in any way. Except where your use constitutes "fair use" under copyright law, you may not use, share, download, upload, copy, print, display, perform, reproduce, publish, license, post, transmit, or distribute this document in whole or in part without the express authorization of Oracle. The information contained in this document is subject to change without notice. If you find any problems in the document, please report them in writing to: Oracle University, 500 Oracle Parkway, Redwood Shores, California 94065 USA. This document is not warranted to be error-free. Restricted Rights Notice If this documentation is delivered to the United States Government or anyone using the documentation on behalf of the United States Government, the following notice is applicable: U.S. GOVERNMENT RIGHTS The U.S. Government’s rights to use, modify, reproduce, release, perform, display, or disclose these training materials are restricted by the terms of the applicable Oracle license agreement and/or the applicable U.S. Government contract. Trademark Notice Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Author

Gail D’Aloisio, Brent A. Bosin, Paul Scott, Assad Akhavan

Technical Contributors and Reviewers

Kathy Wohnoutka, Ruth Kukla, Jan Quist, JongSung Ahn, Chris Rudd, Som Viswapathy, Bruce

Isner, Ivy Farren, Bruce Ingram

This book was published using: oracletutor

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Copyright © Oracle, 2010. All rights reserved.

R12.x Oracle Asset Management Fundamentals Practices Table of Contents i

Table of Contents

Activity Guide ..................................................................................................................................................1-1 Release 12.x Oracle Asset Management Fundamentals ................................................................................1-3 Objectives ......................................................................................................................................................1-4 Setup..............................................................................................................................................................1-5

Practice - Create a New User (Required)..................................................................................................1-6 Asset Controls Setup .....................................................................................................................................1-8

Guided Demonstration - Oracle Assets Key Flexfield Setup.....................................................................1-9 Practice - Create a Location (Required).....................................................................................................1-11 Guided Demonstration - System Controls Form .......................................................................................1-12 Practice - Define Quickcodes (Required) ..................................................................................................1-13 Guided Demonstration - Create a Fiscal Year Calendar (Optional) ..........................................................1-14 Guided Demonstration - Create a Depreciation Calendar (Optional) ........................................................1-15 Guided Demonstration - Oracle Assets Profile Options ............................................................................1-16 Guided Demonstration - Entering Asset Insurance Information................................................................1-17

Asset Books ...................................................................................................................................................1-19 Practice - Create a CORP Depreciation Book (Required) .........................................................................1-20 Guided Demonstration - Review Security by Book Setup (Required) ......................................................1-23

Asset Categories ............................................................................................................................................1-27 Practice - Create Category Values (Required)...........................................................................................1-28 Practice - Create Asset Clearing Accounts (Required) ..............................................................................1-30 Practice - Add Asset Categories to a Corp Book (Required).....................................................................1-32 Practice - Verify Assets Added to a Corp Book (Required) ......................................................................1-35

Asset Additions .............................................................................................................................................1-36 Practice - Add an Asset Using QuickAddition (Required) ........................................................................1-37 Practice - Add an Asset using Detailed Additions (Required)...................................................................1-39 Practice - Set Up Group Assets..................................................................................................................1-41 Solution: Set Up Group Assets ..................................................................................................................1-43 Guided Demonstration - Enter Suppliers (Optional) .................................................................................1-45 Guided Demonstration - Enter Operating Lease Details (Optional) ..........................................................1-46 Guided Demonstration - Enter Capital Lease Details (Optional) ..............................................................1-48 Guided Demonstration - Create Invoices from a Capital Lease (Optional) ...............................................1-50 Guided Demonstration - Enter and Assign an Asset Warranty (Optional) ................................................1-51

Mass Additions ..............................................................................................................................................1-52 Practice - Add Assets using Mass Additions (Required) ...........................................................................1-53 Practice - Merge Tax and Prep into the Server Hardware (Required) .......................................................1-56 Practice - Split an Invoice Line into Multiple Assets (Required) ..............................................................1-58 Practice - Add an Invoice Line to an Existing Asset (Required) ...............................................................1-60 Guided Demonstration - Automatic Preparation of Mass Addition Lines.................................................1-63 Practice - Add Assets Using Web ADI......................................................................................................1-72 Solution: Add Assets Using Web ADI ......................................................................................................1-74 Practice - Run Asset Related Reports (Required)......................................................................................1-77

CIP Asset Additions ......................................................................................................................................1-79 Practice - Add CIP Asset Shell (Required)................................................................................................1-80 Practice - Add Labor to CIP Assets (Required).........................................................................................1-81 Practice - Add Invoice Lines to a CIP Asset (Required) ...........................................................................1-82 Practice - Capitalize a CIP Asset (Required) .............................................................................................1-84

Asset Adjustments .........................................................................................................................................1-85 Practice - Reclassify an Asset (Required)..................................................................................................1-86 Practice - Adjust Asset Units (Required)...................................................................................................1-87 Practice - Adjust Asset Cost (Required) ....................................................................................................1-88 Practice - Transfer an Asset (Required).....................................................................................................1-89 Practice - Add Assets for Mass Transactions (Required) ..........................................................................1-90

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents ii

Practice - Mass Reclassify Assets (Required) ...........................................................................................1-94 Practice - Mass Transfer Assets (Required)...............................................................................................1-96 Guided Demonstration - Schedule Asset Maintenance..............................................................................1-98 Practice - Enter a Physical Inventory (Required).......................................................................................1-99 Practice - Create and Compare a Physical Inventory in Web ADI ............................................................1-100 Solution: Create and Compare a Physical Inventory in Web ADI.............................................................1-102

Depreciating Assets .......................................................................................................................................1-104 Practice - Run Depreciation (Optional) .....................................................................................................1-105 Practice - Set up a Depreciation Calendar (Required) ...............................................................................1-106 Practice - Set up a Depreciation Method (Required) .................................................................................1-108 Practice - Set up a Prorate Convention (Required) ....................................................................................1-109 Practice - Run Depreciation Projections (Required)..................................................................................1-111 Practice - Perform a What-If Analysis (Required).....................................................................................1-112 Practice - Project Depreciation for Assets not yet Placed in Service (Required).......................................1-113

Processing Retirements..................................................................................................................................1-115 Practice - Partially Retire an Asset (Required) ..........................................................................................1-116 Practice - Reinstate a Partially Retired Asset (Required) ..........................................................................1-118 Guided Demonstration - Perform a Mass Retirement................................................................................1-119 Guided Demonstration - Run Create Accounting ......................................................................................1-120 Practice - Perform Asset Inquiries .............................................................................................................1-121 Solution: Perform Asset Inquiries..............................................................................................................1-123

Tax Books......................................................................................................................................................1-126 Practice - Create a Tax Book (Required)...................................................................................................1-127 Practice - Add Categories to a Tax Book (Required) ................................................................................1-129 Practice - Verify Categories are Added to your Tax Book (Required) ......................................................1-131 Practice - Run Initial Mass Copy (Required).............................................................................................1-132

Supplemental Practices ...................................................................................................................................2-1 Release 12.x Oracle Asset Management Fundamentals ................................................................................2-3

Guided Demonstration - Oracle Assets Key Flexfield Setup.....................................................................2-4 Guided Demonstration - Create a Location Flexfield Combination ..........................................................2-6 Practice - Create a Location Key Flexfield Combination ..........................................................................2-7 Solution: Create a Location Key Flexfield Combination...........................................................................2-8 Guided Demonstration - System Controls Form .......................................................................................2-9 Guided Demonstration - QuickCodes........................................................................................................2-10 Practice - Add QuickCode Values .............................................................................................................2-11 Solution: Add QuickCode Values..............................................................................................................2-12 Guided Demonstration - Fiscal Years & Calendars...................................................................................2-13 Practice - Create an Oracle Assets Calendar..............................................................................................2-15 Solution: Create an Oracle Assets Calendar ..............................................................................................2-16 Guided Demonstration - Oracle Assets Profile Options ............................................................................2-18 Guided Demonstration - Entering Asset Insurance Information................................................................2-19 Guided Demonstration - Define an Asset Warranty ..................................................................................2-21 Guided Demonstration - Define a Lease....................................................................................................2-22 Guided Demonstration - Define an Asset Book.........................................................................................2-24 Practice - Set Up Group Assets..................................................................................................................2-26 Solution: Set Up Group Assets ..................................................................................................................2-28 Guided Demonstration - Security by Book Setup (Optional) ....................................................................2-30 Practice - Review Security by Book Setup ................................................................................................2-33 Solution: Review Security by Book Setup.................................................................................................2-35 Guided Demonstration - Define Asset Category Flexfield Values ............................................................2-38 Practice - Add Asset Category Key Flexfield Values................................................................................2-39 Solution: Add Asset Category Key Flexfield Values ................................................................................2-40 Guided Demonstration - Define an Asset Category...................................................................................2-43 Practice - Define Asset Categories ............................................................................................................2-45 Solution: Define Asset Categories.............................................................................................................2-46 Guided Demonstration - Add Assets Using QuickAdditions (Optional) ...................................................2-51

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents iii

Practice - Add an Asset Using QuickAdditions.........................................................................................2-52 Solution: Add an Asset Using QuickAdditions .........................................................................................2-53 Guided Demonstration - Add an Asset Using Detail Additions (Optional)...............................................2-56 Practice - Add an Asset Using Detail Additions........................................................................................2-57 Guided Demonstration - Create Mass Addition Lines...............................................................................2-61 Practice - Create Mass Addition Lines ......................................................................................................2-64 Solution: Create Mass Additions ...............................................................................................................2-66 Guided Demonstration - Automatic Preparation of Mass Addition Lines.................................................2-69 Mass Addition Queue Names ....................................................................................................................2-78 Changing Asset Information......................................................................................................................2-79 Guided Demonstration - Prepare Mass Addition Lines .............................................................................2-80 Practice - Prepare Mass Addition Lines.....................................................................................................2-82 Solution: Prepare Mass Addition Lines .....................................................................................................2-84 Guided Demonstration - Post Mass Additions...........................................................................................2-90 Guided Demonstration - Add a Future Dated Asset ..................................................................................2-91 Guided Demonstration - Add Assets Using Web ADI ..............................................................................2-93 Practice - Add Assets Using Web ADI......................................................................................................2-96 Solution: Add Assets Using Web ADI ......................................................................................................2-98 Guided Demonstration - Create a CIP Asset and Build Costs ...................................................................2-101 Guided Demonstration - Transfer Invoice Lines .......................................................................................2-103 Practice - Create a CIP Asset and Add Costs ............................................................................................2-105 Solution: Create a CIP Asset and Add Costs .............................................................................................2-107 Practice - Transfer Invoice Lines...............................................................................................................2-110 Solution: Transfer Invoice Lines ...............................................................................................................2-112 Guided Demonstration - Capitalizing a CIP Asset ....................................................................................2-116 Practice - Capitalize a CIP Asset ...............................................................................................................2-117 Solution: Capitalize a CIP Asset................................................................................................................2-118 Guided Demonstration - Perform Single Asset Adjustments ....................................................................2-120 Guided Demonstration - Perform Mass Transactions................................................................................2-122 Practice - Perform Single Asset Adjustments ............................................................................................2-125 Solution: Perform Single Asset Adjustments ............................................................................................2-127 Guided Demonstration - Schedule Asset Maintenance..............................................................................2-133 Guided Demonstration - Review a Physical Inventory..............................................................................2-134 Guided Demonstration - Create a Physical Inventory in Web ADI...........................................................2-135 Guided Demonstration - Create a New Depreciation Method ...................................................................2-137 Practice - Create a New Depreciation Method...........................................................................................2-138 Solution: Create a New Depreciation Method ...........................................................................................2-139 Guided Demonstration - Enter Production ................................................................................................2-141 Guided Demonstration - Create a Prorate Convention ..............................................................................2-142 Practice - Create a Prorate Convention......................................................................................................2-143 Solution: Create a Prorate Convention ......................................................................................................2-144 Guided Demonstration - Perform a Depreciation Projection.....................................................................2-146 Practice - Run a Depreciation Projection...................................................................................................2-147 Solution: Run a Depreciation Projection ...................................................................................................2-148 Guided Demonstration - Perform a What-if Depreciation Analysis ..........................................................2-150 Practice - Perform a What-If Depreciation Analysis .................................................................................2-151 Solution: Perform a What-If Depreciation Analysis..................................................................................2-152 Guided Demonstration -Perform a Full Retirement and Undo Retirement................................................2-154 Guided Demonstration - Process a Partial Retirement and Reinstate ........................................................2-155 Guided Demonstration - Perform a Mass Retirement................................................................................2-157 Practice - Perform a Retirement and Reinstatement ..................................................................................2-158 Solution: Perform Retirement and Reinstatement .....................................................................................2-159 Guided Demonstration - Run Create Accounting ......................................................................................2-162 Guided Demonstration -Perform Asset Inquiries.......................................................................................2-163 Practice - Perform Asset Inquiries .............................................................................................................2-166 Solution: Perform Asset Inquiries..............................................................................................................2-168 Guided Demonstration - iAssets Setup-Rules............................................................................................2-171

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents iv

Guided Demonstration - Create a Tax Asset Book....................................................................................2-174 Practice - Define a Tax Asset Book...........................................................................................................2-176 Solution: Define a Tax Asset Book ...........................................................................................................2-179 Guided Demonstration - Add Asset Categories to Tax Book ....................................................................2-182 Practice - Add Asset Categories to a Tax Book.........................................................................................2-184 Solution: Add Asset Categories to a Tax Book .........................................................................................2-186 Guided Demonstration - Perform an Initial Mass Copy ............................................................................2-189 Practice - Perform an Initial Mass Copy....................................................................................................2-190 Solution: Perform an Initial Mass Copy ....................................................................................................2-191 Guided Demonstration - Manually Add an Asset to a Tax Book ..............................................................2-193 Practice - Manually Add an Asset to a Tax Book......................................................................................2-194 Solution: Manually Add an Asset to a Tax Book ......................................................................................2-196 Guided Demonstration -Adjust Depreciation Reserve...............................................................................2-198

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents v

Preface

Profile

Before You Begin This Course

• Basic knowledge of business accounting concepts

• Familiarity with data processing concepts and techniques

Prerequisites

• R12 Navigate Oracle Applications

• R12 eBusiness Suite Essentials for Implementers

How This Course Is Organized

This is an instructor-led course featuring lecture and hands-on exercises. Online demonstrations and written practice sessions reinforce the concepts and skills introduced.

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents vi

Related Publications

Oracle Publications Title Part Number

Oracle Assets User Guide E13586-03

Oracle iAssets User Guide E13435-02

Additional Publications

• System release bulletins

• Installation and user’s guides

• Read-me files

• International Oracle User’s Group (IOUG) articles

• Oracle Magazine

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents vii

Typographic Conventions

Typographic Conventions in Text Convention Element Example Bold italic Glossary term (if

there is a glossary) The algorithm inserts the new key.

Caps and lowercase

Buttons, check boxes, triggers, windows

Click the Executable button. Select the Can’t Delete Card check box. Assign a When-Validate-Item trigger to the ORD block. Open the Master Schedule window.

Courier new, case sensitive (default is lowercase)

Code output, directory names, filenames, passwords, pathnames, URLs, user input, usernames

Code output: debug.set (‘I”, 300); Directory: bin (DOS), $FMHOME (UNIX) Filename: Locate the init.ora file. Password: User tiger as your password. Pathname: Open c:\my_docs\projects URL: Go to http://www.oracle.com User input: Enter 300 Username: Log on as scott

Initial cap Graphics labels (unless the term is a proper noun)

Customer address (but Oracle Payables)

Italic Emphasized words and phrases, titles of books and courses, variables

Do not save changes to the database. For further information, see Oracle7 Server SQL Language Reference Manual. Enter [email protected], where user_id is the name of the user.

Quotation marks

Interface elements with long names that have only initial caps; lesson and chapter titles in cross-references

Select “Include a reusable module component” and click Finish. This subject is covered in Unit II, Lesson 3, “Working with Objects.”

Uppercase SQL column names, commands, functions, schemas, table names

Use the SELECT command to view information stored in the LAST_NAME column of the EMP table.

Arrow Menu paths Select File > Save. Brackets Key names Press [Enter]. Commas Key sequences Press and release keys one at a time:

[Alternate], [F], [D] Plus signs Key combinations Press and hold these keys simultaneously: [Ctrl]+[Alt]+[Del]

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents viii

Typographic Conventions in Code Convention Element Example Caps and lowercase

Oracle Forms triggers

When-Validate-Item

Lowercase Column names, table names

SELECT last_name FROM s_emp;

Passwords DROP USER scott IDENTIFIED BY tiger;

PL/SQL objects OG_ACTIVATE_LAYER (OG_GET_LAYER (‘prod_pie_layer’))

Lowercase italic

Syntax variables CREATE ROLE role

Uppercase SQL commands and functions

SELECT userid FROM emp;

Typographic Conventions in Oracle Application Navigation Paths

This course uses simplified navigation paths, such as the following example, to direct you through Oracle Applications.

(N) Invoice > Entry > Invoice Batches Summary (M) Query > Find (B) Approve

This simplified path translates to the following:

1. (N) From the Navigator window, select Invoice then Entry then Invoice Batches Summary.

2. (M) From the menu, select Query then Find.

3. (B) Click the Approve button.

Notations:

(N) = Navigator

(M) = Menu

(T) = Tab

(B) = Button

(I) = Icon

(H) = Hyperlink

(ST) = Sub Tab

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents ix

Typographical Conventions in Oracle Application Help System Paths

This course uses a “navigation path” convention to represent actions you perform to find pertinent information in the Oracle Applications Help System.

The following help navigation path, for example—

(Help) General Ledger > Journals > Enter Journals

—represents the following sequence of actions:

1. In the navigation frame of the help system window, expand the General Ledger entry.

2. Under the General Ledger entry, expand Journals.

3. Under Journals, select Enter Journals.

4. Review the Enter Journals topic that appears in the document frame of the help system window.

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R12.x Oracle Asset Management Fundamentals Practices Table of Contents x

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Activity Guide Chapter 1 - Page 1

Activity Guide Chapter 1

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Release 12.x Oracle Asset Management Fundamentals

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Objectives

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Setup

Instructor Prep Notes

• Open accounting periods in GL for Vision Operations. The current month should correspond to the current calendar period.

• Open periods in AP. The current month should correspond to the current calendar period. • Sequential Numbering = Not used • Set the Java:Color Scheme profile option to Blue • Verify Responsibility Level, FA: Print Debug = No • Verify Responsibility Level, FA: Print Timing Diagnostics Flag = No • Verify that Invoice Batching is not enabled. • Set Payables Options to default journal import to "Yes", disallow override. • Set Payables Options to send journals to the GL in summary by period. • Disable Lease GUI descriptive flexfield. • Log in as Services/Welcome and add asset 100296 to SVCS FEDERAL book • Add 00_Class • Set the HR:User Type profile option to HR with Payroll User at the Application level

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Practice - Create a New User (Required)

Overview

In this practice, you create a new user.

Assumptions

• Replace XX with your terminal number or initials.

• You must have access to an Oracle Application Vision database or a comparable training test instance at your site on which to complete this practice.

Tasks

Sign On to Oracle Applications

1. Sign on: − User Name = operations − Password = welcome

2. Responsibility = System Administrator

Create a New User

3. Add a New User.

• (N) Security > User > Define.

Field Value

User Name XXUSER

Password welcome (Tab, reenter to verify)

Person Pat Stock (Choose from the list of values. This may be the last name first or first name last depending on the version of the form. Choose the Pat Stock with [email protected] as the email address.

4. Click (B) OK to the caution message.

Add Responsibilities

5. Add the following responsibilities to your new user:

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Responsibility Security

Assets, Vision Operations (USA) Standard

Assets, Vision Services (USA) Standard

Fixed Assets Manager Standard

Assets, Vision Project Mfg Standard

General Ledger, Vision Operations (USA) Standard

Payables, Vision Operations (USA) Standard

Projects, Vision Services (USA) Standard

Purchasing, Vision Operations (USA) Standard

System Administrator Standard

6. (I) Save.

7. Exit the forms-based applications.

8. Make the Personal Home Page the active page.

9. (L) Log out.

Log in with your user

10. Login = XXUser

Note: System prompts you to create a new password: − Password = welcome − Old Password = welcome − New Password = XXuser (Tab, reenter to verify)

11. Responsibility = Assets, Vision Operations Ora

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Asset Controls Setup

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Guided Demonstration - Oracle Assets Key Flexfield Setup

Responsibility: Assets, Vision Operations (USA)

(N) Setup > Financials > Flexfields > Key > Segments.

1. Use the Find icon to query the Key Flexfield -Assets-Category Flexfield.

2. Note the following in the Key Flexfield Segments form:

• Only one enabled flexfield structure is found (only one allowed per Oracle Assets installation).

• The Allow Dynamic Inserts check box is not selected (should not be allowed with the Asset Category key flexfield).

3. Click the Segments button to open the Segments Summary form.

4. With the Major Category segment selected, click the Value Set button and note in the Value Sets form that the Value Validation is Independent.

5. Close the Value Sets form.

6. Select the Minor Category segment and click the Value Set button.

7. Note that the Value Set for this segment is Dependent.

8. Click the Edit Information button to show the Dependent segment is linked to the Independent segment and also requires a default value to be entered.


10. In the Segments Summary form, select the Major Category segment again and click the Flexfield Qualifiers button. In the Flexfield Qualifiers form, note that the Major Category segment is selected for the Major Category qualifier (no redundancy intended).

11. Close the Flexfields Qualifier form.

12. Back in the Segments Summary form, click the Open button.

13. Review the fields in the Segments form noting that the Major Category segment is Required.

14. Close the Segments and the segments Summary forms.

15. If time permits, place the cursor back in the Application field and find the other two Oracle Assets key flexfields.

16. For each applicable key flexfield, note the following:

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• Location Key Flexfield

• Cross-Validate Segments and Allow Dynamic Inserts are enabled

• The State segment is designated as the State segment qualifier

• Asset Key Key Flexfield

• In the Segments form, note that the Required check box is not selected. It means that entry of the Asset Key key flexfield is not required when adding an asset.

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Practice - Create a Location (Required)

Overview

In this practice, you create a new location.

Assumptions



Tasks

Create a New Value

1. Responsibility = Assets, Vision Operations

2. Navigate to the Values window.

• (N) Setup > Financials > Flexfields > Validation > Values: − Name = Vision FA Building

3. (B) Find.

4. Add value = XXBLDG200

5. (I) Save.

Enter a location

6. Navigate to the Locations window.

• (N) Setup > Asset System > Locations.

7. Add the following new location:

Location

USA-CA-LOS ANGELES-XXBLDG200

Note: Valid locations are either set up in advance or dynamic insertion is allowed to create them as users choose new location combinations. It is FAR more common to set up valid locations in advance. If valid location combinations are not set up in advance, you should set up cross validation rules to prevent bad combinations of segment values.

8. (I) Save.

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Guided Demonstration - System Controls Form


(N) Setup > Asset System > System Controls.

1. In the System Controls form, note the following:

• All fields except the Enterprise Name field are not updatable. If this is a new installation, all fields will allow entry but only the Enterprise Name and Oldest Date Placed in Service allow update after the record is saved. The Oldest Date Placed in Service can be updated only until any calendar is assigned to any asset book.

• The last number used is updated each time a new asset number is assigned by the system.

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Practice - Define Quickcodes (Required)

Overview

In this practice, you create two new Quickcode values.

Assumptions



Tasks

Define QuickCodes

1. Navigate to the QuickCodes window.

• (N) Setup > Asset System > QuickCodes.

2. Add QuickCodes according to the following table:

Note: You must FIRST query the Quickcode, and THEN add the value.

Type Value Description

RETIREMENT XXSALE Sale

ASSET DESCRIPTION XXHIGH SPEED COMPUTER High Speed Computer

3. Save after entering each Quickcode, then repeat step 2 for the next value in the table.

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Guided Demonstration - Create a Fiscal Year Calendar (Optional)


(N) Setup > Asset System > Fiscal Years

1. Create a new fiscal year: − Fiscal Year Name = XXACCOUNTING − Description = Standard Accounting Calendar − From Date = 01-JAN-YYYY − To Date = 31-DEC-YYYY − Fiscal Year = YYYY

2. Create fiscal years up to the current fiscal year.

3. (I) Save.

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Guided Demonstration - Create a Depreciation Calendar (Optional)


(N) Setup > Asset System > Calendars

1. Create a new calendar: − Calendar = XXMonthly − Description = XXMonthly − Fiscal Year Name = XXACCOUNTING − Periods Per Year = 12

2. Create a full year calendar from the prior year through the current year.

Number Name From Date To Date

1 Jan-XX (where XX is LAST year) 01-Jan-20XX 31-Jan-20XX

2 Feb-XX (where XX is LAST year) 01-Feb-20XX 29-Feb-20XX (if this gives an error, try 28-Feb-20XX.)

Etc Etc Etc Etc

3. (I) Save.

Warning: The period name must match the corresponding GL Calendar period name (this is case-sensitive) or accounting will not transfer to the General Ledger.

Note: The start and end dates are validated against the fiscal year calendar.

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Guided Demonstration - Oracle Assets Profile Options


(N) Other > Profile.

or

(M) Edit > Preferences > Profiles.

1. In the Personal Profiles Values form, go into query mode.

2. In the Profile Name field, enter FA%, and then execute the query.

3. Review the returned Profile options noting which are updatable by the User and which the Systems Administrator must maintain.

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Guided Demonstration - Entering Asset Insurance Information


(N) Assets > Insurance > Insurance Policy Details

To enter insurance information for an asset, perform the following:

1. Open the Fixed Asset Insurance window.

2. Query the asset number 100080 in the OPS CORP book.

3. In the Policy region, enter any policy number in the Policy Number field, Mutual Insurance Company in the Insurance Company field, and DES MOINES - HQ in the Supplier Site field.

4. Enter the Calculation Method to use for this asset insurance, either Value as New, Market Value, or Manual Value.

5. If the asset is a Swiss special–case asset, select the Special Swiss Asset check box.

6. In the Base Index Date field, enter the date that is used as the base date for indexation.

7. Enter FULL COST in the Insurance Index field.

8. In the Base Insurance Value field, enter the base insurance value of the asset as defined in the insurance policy.

9. If you chose the Manual Value calculation method or if your asset is flagged as a Swiss special–case asset, enter the current insurance value. Otherwise, this field displays the current insurance value of the asset, calculated automatically.

10. In the Insured Amount field, enter the amount for which the asset is insured under that policy.

To enter insurance policy information, perform the following:

11. In the Fixed Asset Insurance window, click the Lines button to display the insurance policy line information.

12. In the Fixed Asset Insurance Policy Lines window, enter insurance policy information, such as the insurance policy line number, the insurance category, and the hazard class.

13. Enter any additional comments in the Comments field.

14. Save your work.

To enter insurance policy maintenance information, perform the following:

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15. In the Fixed Asset Insurance window, click the Maintenance button.

16. In the Fixed Asset Insurance Policy Maintenance window, update any information that needs to be changed.

17. Save your changes.

18. Run the Insurance Calculation routine to show how it calculates the current insurance value based on the index that you have used.

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Asset Books

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Practice - Create a CORP Depreciation Book (Required)

Overview

In this practice, you create a new CORP depreciation book.

Assumptions



Tasks

Add a Company to the Operations Company Value Set

1. Navigate to the Segment Values window.

• (N) Setup > Financials > Flexfields > Validation > Values > Select the Value Set Option − Name = Operations Company.

2. (B) Find.

3. Add a new value according to the following table: Terminal Value Description

01 51 You choose

02 52 You choose

03 53 You choose

04 54 You choose

05 55 You choose

06 56 You choose

07 57 You choose

08 58 You choose

09 59 You choose

10 60 You choose

11 61 You choose

12 62 You choose

4. Click (I) Save and then (B) OK.

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5. Return to the Navigator.

Update Balancing Segment for Vision Operations Legal Entity

6. Navigate to Accounting Setups window.

• Setup > Financials > General Ledger > Accounting Setup Manager > Accounting Setups

7. In the search box enter: Vision Operations and click (B) Go.

8. Click on the Update Accounting options for Vision Operations.

9. Click on update balancing segment values for the Vision Operations legal entity Legal Entity section).

10. Click (B) Add Balancing Segment Values.

11. Search by Values and click (B) Go.

12. Check the select box for your balancing value and click (B) Select.

13. Click (B) Apply. Make sure your balancing segment value has been added to the Vision Operations legal entity.

14. Click on Home or Close Window to exit the Accounting Setup Manager.

Create a Corp Depreciation Book

15. Navigate to the Book Controls window.

• (N) Setup > Asset System > Book Controls.

16. Enter the given parameters according to the following table:

Field Value

Book XXCORP BOOK

Description XXCORP BOOK

Class Corporate

Associated Corporate Book XXCORP BOOK (Note: Use your initials for "XX". Remember every time you see "XXCORP BOOK" listed in future labs, search "XX" as your initials.)

17. (T) Calendar.

18. Enter information according to the following table:

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Field Value

Ledger Vision Operations

Allow GL Posting Yes

Depreciation Calendar Monthly

Prorate Calendar Monthly

Current Period Dec-XX (use LAST year)

Divide Depreciation (use By Days if you are using a 4-4-5 Calendar)

Evenly

Depreciate if Retired in First Year Yes

19. (T) Accounting Rules.

20. Select the specified check boxes or leave them deselected.

Field Value

Allow Amortized Changes Selected

Allow Mass Changes Selected

Allow Revaluations Deselected

Allow Group Depreciation Selected

21. (T) Natural Accounts.

22. Use the following information to set up accounts:

Account Gain Loss Clearing

Proceeds of Sale 7850 7851 1247

Cost of Removal 7852 7853 2240

Net Book Value Retired 7854 7855 N/A

Reval Reserve Retired 7854 7855 N/A

Field Account

Deferred Depreciation Reserve 2540

Deferred Depreciation Expense 7860

Depreciation Adjustment 1690

Account Generator Defaults XX-000-9999-0000-000

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Guided Demonstration - Review Security by Book Setup (Required)


(N) Assets > Asset Workbench

1. Review the hierarchy setup for Vision Enterprises:

Vision CorporateFA: VisionCorporation

Vision OperationsFA: VisionOperations

Vision ServicesFA: VisionServices

Vision, Project MfgFA: Vision Project

Mfg

Hierarchy for Security by Book

Can see alldepreciationbooks in hierarchy

OPS CorpOPS Federal

SVCS CorpSVCS Federal

PRJ Mfg CorpPRJ Mfg Fed

User ID Password Responsibility Security Profile

corporate welcome Fixed Assets Manager FA: Vision Corporation

operations welcome Assets, Vision Operations FA: Vision Operations

services welcome Assets, Vision Services FA: Vision Services

projmfg welcome Assets, Vision Project Mfg (MRC) FA: Vision Proj Mfg

Verify Security for Corporate

2. Log in as a new user: − User Name = corporate − Password = welcome

3. Responsibility = Fixed Assets Manager

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4. Navigate to the Financial Information window.

• Inquiry > Financial Information.

5. Enter your book name (XXCORP BOOK).

6. Find asset number 100081.

7. (B) Books.

8. Verify that asset 100081 can be seen in both the OPS CORP and OPS FEDERAL books.

9. Repeat the inquiry for the following assets:

Book Asset No. Visible?

OPS CORP 100081 Yes

OPS FEDERAL 100081 Yes

SVCS CORP 100132 Yes

SVCS FEDERAL 100530 Yes

Verify Security for Vision Operations

10. Change the user name to Operations: − User Name = operations − Password = welcome


12. Query the assets again. You should be able to access the following books and assets:


OPS CORP 100081 Yes

OPS FEDERAL 100081 Yes

SVCS CORP 100132 No

SVCS FEDERAL 100530 No

Note: User “operations” has access to the books of Vision Operations and Vision Project Mfg., but cannot access the books of Vision Services. Optionally, view a financial information inquiry for the assets.

Verify Security for Vision Services

13. Change your user name to Services:

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− User Name = services − Password = welcome

14. Search for assets assigned to both the OPS CORP and SVCS CORP books.


OPS CORP 100081 No

OPS FEDERAL 100081 No

SVCS CORP 100132 Yes

SVCS FEDERAL 100530 Yes

Review Asset Organization Setup for Vision Operations


16. Navigate to the Organizations window.

• (N) Setup > Security > Organization > Description.

17. Review the asset books associated with this responsibility.

Review Asset Organization Setup for Vision Services

18. Responsibility = Assets, Vision Services




Review Asset Organization Setup for Vision Project Mfg

21. Responsibility = Assets, Vision Project Mfg




Review the Asset Hierarchy


25. Navigate to the Organization Hierarchy window.

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• (N) Setup > Security > Organization > Hierarchy.

26. Query the Assets Hierarchy.

Review the Security Profiles

Security profiles link an asset organization to a responsibility.

27. Navigate to the Security Profile window.

• (N) Setup > Security > Security.

28. Query the following Profiles:

Name

FA:Vision Corporate

FA:Vision Operations

FA:Vision Services

FA:Vision Project Mfg

Review the FA: Security Profile Option

Use the Security Profile window to link the Profiles to a position in the hierarchy.

29. Responsibility = System Administrator

30. Navigate to the System Profiles window.

• (N) Profiles > System.

31. View the associated FA: Security profile option.

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Asset Categories

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Practice - Create Category Values (Required)

Overview

In this practice, you create category values that are used to create a new asset category combination. The goal is to be able to create category combinations using these values in a later practice. The category combinations will have the following form:

Category Combinations

XXCOMPUTER-XXPC

XXCOMPUTER-XXNC

XXCOMPUTER-XXSERVER

XXCOMPUTER-XXNETWORK

Assumptions



Tasks

Create an Independent Value of XXCOMPUTER


• (N) Setup > Financial > Flexfields > Validation > Values: − Name = Vision FA Major Category

2. (B) Find: − Value = XXCOMPUTER − Description = XXComputer

3. Save.

Add Dependent Values


• (N) Setup > Financial > Flexfields > Validation > Values. − Name = Vision FA Minor Category − Independent Value = XXCOMPUTER

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5. (B) Find.

6. Add dependent values according to the following table and save your work.

Value Description

XXPC PC

XXNC NC

XXSERVER Server

XXNETWORK Network

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Practice - Create Asset Clearing Accounts (Required)

Overview

In this practice, you create asset-clearing accounts that you will use for your categories.

Assumptions



Tasks

Create Asset Clearing Accounts


• (N) Setup > Financials > Flexfields > Validation > Values: − Name = Operations Account

2. (B) Find.

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3. Create the value associated with your terminal number based on the following table:

Terminal Value Description Qualifier

01 1581 01_Clearing Asset












4. Save your changes when you have completed.

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Practice - Add Asset Categories to a Corp Book (Required)

Overview

In this practice, you add asset categories to a corporate depreciation book.

Assumptions



Tasks

Add Categories to a Corp book

1. Navigate to the Asset Categories window.

• (N) Setup > Asset System > Asset Categories.

2. Create a new category combination: − Category = XXCOMPUTER-XXNETWORK − Description = Computer Network − Property Type = Personal − Property Class = 1245

3. Move the cursor in the Book field: − Book = XXCORP BOOK

4. Specify the accounting information according to the following table (to enter Method and Prorate Convention, click the Default Rules button):

Note: For Revaluation Reserve, use XX-000-1670-0000-000.

Category Asset Cost/

*CIP Cost

Asset Clearing/

*CIP Clearing

Dep Exp

Accum Dep Method/ Life

Prorate Conv


XX-000-1560-0000-000/ XX-000-1560-0000-000

XX-000-XXXX-0000-000/ XX-000-XXXX-0000-000

XX-000-7360-0000-000

XX-000-1660-0000-000

STL/4 Mid Month

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5. Query each of the following categories and add them to your asset book. Save your work.


Category Asset

Cost/ *CIP Cost

Asset Clearing/

*CIP Clearing

Dep Exp


Prorate Conv

BUILDING-MANUFACTURING

XX-000-1520-0000-000/ XX-000-1520-0000-000

XX-000-XXXX -0000-000

XX-000-7320-0000-000

XX-000-1620-0000-000

STL/30 Mid Month

BUILDING-OFFICE

XX-000-1520-0000-000/ XX-000-1520-0000-000

XX-000-XXXX -0000-000

XX-000-7320-0000-000

XX-000-1620-0000-000

STL/30 Mid Month

COMPUTER-PC XX-000-1560-0000-000/ XX-000-1560-0000-000

XX-000-XXXX -0000-000

XX-000-7360-0000-000

XX-000-1660-0000-000

STL/4 Mid Month

VEHICLE-LEASED STANDARD

XX-000-1550-0000-000/ XX-000-1550-0000-000

XX-000-XXXX -0000-000

XX-000-7350-0000-000

XX-000-1650-0000-000

STL/4 Mid Month

VEHICLE-OWNED HEAVY

XX-000-1550-0000-000

XX-000-XXXX -0000-000

XX-000-7350-0000-000

XX-000-1650-0000-000

STL/4 Mid Month

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Category Asset Cost/

*CIP Cost

Asset Clearing/

*CIP Clearing

Dep Exp


Prorate Conv

VEHICLE-OWNED STANDARD

XX-000-1550-0000-000/ XX-000-1550-0000-000

XX-000-XXXX -0000-000

XX-000-7350-0000-000

XX-000-1650-0000-000

STL/4 Mid Month

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Practice - Verify Assets Added to a Corp Book (Required)

Overview

In this practice, you verify the assets added to a Corp Book.

Assumptions



Tasks

Verify That All Categories Are Added to the Corp Book

1. Navigate to the Submit a New Request window:

• (N) Other > Requests > Run.

2. (B) OK to submit a single request: − Name = Asset Category Listing − Book Name = XXCORP BOOK

3. Submit the request and monitor it to ensure that it completes successfully.

4. Review the Asset Category Listing report to ensure all categories that you added are in your XXCorp Book.

• (M) View > Requests > Find > View Output

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Asset Additions

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Practice - Add an Asset Using QuickAddition (Required)

Overview

In this practice, you add a new asset into the corporate book that you created, accepting the default rules associated with this asset category.

Assumptions



Tasks

Add an Asset Using QuickAdditions

1. Use Assets, Vision Operations (USA) responsibility and navigate to the QuickAdditions window.

• (N) Assets > Assets Workbench.

2. (B) QuickAdditions.

3. Enter the following information in the respective fields:

Field Value

Description XXCHEVY BLAZER

Tag Number XXCAR

Category VEHICLE-OWNED STANDARD

License plate 687ABC

License renewal date 14-Dec-YYYY (Current year)

Book XXCORP BOOK

Cost 20000

Employee Name Adams, Mr. Brian

Expense Account XX-110-7350-0000-000

Location USA-CA-SAN FRANCISCO-1

Note: The description field has a list of values associated with it. The values on the list of values are Quickcodes. You can set up asset descriptions in advance for frequently purchased assets so that the descriptions can be made more consistent.

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4. (B) Done.

5. Note the asset number assigned _____________________________.

6. (B) OK.

Note: You see two reference numbers when the asset is added. One is for the addition and the other is for the assignment.

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Practice - Add an Asset using Detailed Additions (Required)

Overview

In this practice, you add a new asset to your corporate book, specifying the details associated with this asset category.

Assumptions



Tasks

Add an Asset Using Detailed Additions

1. Navigate to the Asset Details window.


2. (B) Additions.


Field Value

Description XXOVERHEAD OFFICE BUILDING

Tag Number XXBLDG

Category BUILDING-OFFICE

Insurance company Fidelity

Building size 500000

4. (B) Continue.


Field Value

Book XXCORP BOOK

Current Cost 10,000,000

Method STL

Life Years 15

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6. Note that you can override the defaults from the category.

7. (B) Continue.


Field Value

Unit Change 1


Location USA-NY-NEW YORK-2

9. (B) Done.

10. Note the asset number assigned _______________________.

11. (B) OK.

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Practice - Set Up Group Assets

Overview

In this practice, you perform the following:

• Create a group asset

• Assign a member asset to the group asset

Assumptions

• Use Vision database.

• Login information is provided by your instructor.

• Replace XX with the number provided by your instructor.

• Use the Assets, Vision Operations (USA) responsibility.

• XXCORP book must be enabled for group depreciation by the instructor before the start of the practice (the instructor needs to select the Allow Amortized Changes and Allow Group Depreciation check boxes in the Accounting Rules tabbed region of the Book Controls window.

Tasks

Create a Group Asset

Create a group asset using Detail Additions with the following values: Description GROUP_ASSET_XX

Major Category Computer

Minor Category PC

Asset Type Group

Book XXCORP

In the Assignments window, enter: Unit Change Expense Account Location

1 XX-410-7360-0000-000 USA-DC-WASHINGTON, DC-NONE

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Assign a Member Asset to a Group Asset

Create a new asset using QuickAdditions with the following values and assign the asset to the group asset that you created previously:

Field Value

Description Member Asset XX


Minor Category PC

Book XXCORP

Method STL

Cost $5000

Date in Service Use default

Prorate Convention Mid-Month


Location USA-DC-WASHINGTON, DC-NONE

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Solution: Set Up Group Assets

Responsibility = Assets, Vision Operations


1. (N) Assets > Asset Workbench.

2. (B) Additions.

3. In the Description field, enter GROUP_ASSET_XX.

4. In the Category field, enter a major category of Computer and a minor category of PC.

5. In the Asset Type file, select Group.

6. (B) Continue.

7. In the Book field, enter XXCORP.

8. (B) Continue.

9. In the Assignments window, enter: Unit Change Expense Account Location


10. (B) Done to save your asset.

11. Write down your group asset number __________.


12. In the Assets window, (B) QuickAdditions.

13. In the QuickAdditions window, enter: Field Value



Minor Category PC

Book XXCORP

Method STL

Cost $5000



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15. Write down the asset number _________.

16. Close the Assets window.

17. Query the member asset that you just created:

• (N) Assets > Asset Workbench.

18. In the Find Assets window, enter the asset number of the member asset that you just created in the Asset Number field and XXCORP in the Book field.

19. (B) Find.

20. (B) Books.

21. Enter XXCORP in the Book field.

22. (T) Group Asset.

23. Enter the group asset number of the asset that you created in step 11 in the Group Asset field.


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Guided Demonstration - Enter Suppliers (Optional)


(N) Setup > Financials > Suppliers.

Enter a Supplier

1. Set up the suppliers by navigating first to the Suppliers Summary window.

• (N) Setup > Financials > Suppliers: − Supplier Name = XXUPay Less Rentals

2. (B) Create Supplier.

3. Organization Name = XXUPay Less Rentals

4. (B) Apply.

Enter a Supplier Site

5. (L) Address Book. (B) Create.

Enter Full Address, including city, county, state, postal code, and Address name. Make this a purchasing and pay site by selecting the Purchasing and Payment check boxes.

6. (B) Continue. Select the Vision Operations operation unit. (B) Apply.

Enter Additional Suppliers Using the Preceding Steps

Supplier 2 - Organization Name = XXMaintenance Services

Supplier 3 – Organization Name = XXIBM Corp.

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Guided Demonstration - Enter Operating Lease Details (Optional)


(N) Setup > Asset System > Leases > Lease Payments.

1. Enter Payment Schedule information according to the following table:

Field Value

Payment Schedule XXCar Rental

Lease Date 01-Jan-200Y

Interest Rate 12

Compounding Frequency

Monthly

Present Value Leave Blank

2. Enter payment information according to the following table: Line Start Date Amount Number Payment Type

1 01-JAN-200Y 450 60 Annuity

Note: Leave the end dates blank. Oracle Assets automatically displays an end date.

Note: In this demo, you will be using the data from the Enter Suppliers Guided Demonstration. In other words, the Enter Suppliers guided demo must be completed first.

Calculate NPV of Lease Payments

3. (B) Calculate.

4. Record the present value.

5. Save.

6. (B) View Amortization.

7. Save.

8. (B) Yes to save the schedule.

9. Close all the forms until you are back at the Navigator.

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Determine Lease Type

10. Navigate to the Lease Details window.

• (N) Setup > Asset System > Leases > Lease Details: − Lease Number = XXRental Lease − Description = XXRental Lease − Lessor = XXUPay Less Rentals − Lessor Site = Choose a pay site.

Note: The Lease type is currently Operating: − Payment Schedule = XXCar Rental − Payment Account = XX-110-7740-0000-000 − Note that the Present Value of the lease is filled in. − Fair Value = 32000

11. Save.

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Guided Demonstration - Enter Capital Lease Details (Optional)


(N) Setup > Asset System > Leases > Lease Payments.

1. Enter Payment Schedule information according to the following table:

Field Value

Payment Schedule XXServer Lease

Lease Date 01-Jan-200Y

Interest Rate 12

Compounding Monthly

Present Value Leave Blank

2. Enter payment information according to the following table: Line Start Date Amount Number Payment Type

1 01-Jan-200Y 5700 1

2 01-Feb-200Y 1900 60 Annuity

Note: Leave the end dates blank. Oracle Assets automatically displays an end date.

Note: In this demo, you will be using the data from the Enter Suppliers Guided Demonstration. In other words, the Enter Suppliers guided demo must be completed first.

Calculate NPV of Lease Payments

3. (B) Calculate.

4. Record the present value.

5. Save.

6. (B) View Amortization.

7. Save.

8. (B) Yes to save the schedule.


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Determine Lease Type

10. Navigate to the Lease Details window.

• (N) Setup > Asset System > Leases > Lease Details: − Lease Number = XXServer Lease − Description = XXServer Lease − Lessor = XXIBM Corp − Lessor Site = Choose a pay site − Payment Term = IMMEDIATE

Note: It is strongly recommended that you use IMMEDIATE as the payment term, so when the invoice is created in Payables, it can be paid right away. If no payment term is specified, the default from the supplier site is used and that may cause lease payments to be made late.

− Payment Schedule = XXServer Lease − Payment Account = XX-110-7740-0000-000 − Note that the Present Value of the lease is filled in. − Fair Value = 92000

11. Save.

Note: The Lease has met the criteria for a Capitalized lease.

Note: Oracle uses the SFAS 13 criteria to determine the lease type. If any one of the criteria is met, the lease is a capital lease and the asset must be capitalized and depreciated.

1. Ownership will be transferred at end of the lease term.

2. Lease contains a BPO.

3. The lease term is equal to 75% or more of the remaining estimated economic life of the leased asset at lease inception.

4. The NPV of the minimum lease payments is at least 90% of the market value of the lease asset.

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Guided Demonstration - Create Invoices from a Capital Lease (Optional)


(N) Setup > Asset System > Leases > Lease Payments to Payables.

1. Query the lease.

2. Select the payments to export.

3. (B) Export.

Import Lease Payments into Payables

4. Responsibility = Payables, Vision Operations

5. Navigate to the Standard Request Submission window.


6. (B) OK to submit a single request: − Name = Payables Open Interface Import − Source = Oracle Assets

7. (B) OK.

8. (B) Submit.

9. Review the report output when the request completes.

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Guided Demonstration - Enter and Assign an Asset Warranty (Optional)


(N) Setup > Asset System > Warranties.


Field Value

Warranty Number XXP2316

Description Vehicle Maintenance

Start Date 01-Dec-20YY (Last year)

End Date 31-Jan-20XX (current year)

Currency USD

Cost 150

Supplier Name XXMaintenance Services

2. Save.

Assign the Warranty to an Asset

3. Navigate to the Assets window.

• (N) Assets > Asset Workbench. − Tag Number = XXCAR − Book = XXCORP BOOK

4. (B) Find.

5. (B) Open: − Warranty Number = XXP2316

6. (B) Done. O

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Mass Additions

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Practice - Add Assets using Mass Additions (Required)

Overview

In this practice, you enter invoice lines in Oracle Payables to create data to be used in Oracle Assets. Invoices entered in Oracle Payables must be approved and sent to Oracle General Ledger using the Transfer to the General Ledger program before these can be processed.

Assumptions



Tasks

Add Assets Using Mass Additions

1. Switch Responsibilities.

• (M) File > Switch Responsibility.

2. Responsibility = Payables, Vision Operations (USA)

3. Navigate to the Invoices window.

• (N) Invoices > Entry > Invoices.

4. Enter the following invoice information:

Type Trading Partner

Site Invoice Date Invoice Number

Amount

Standard Advanced Network Devices

Sydney 15-Dec-200Y Y = last year

XXINV 118,800

5. (T) Lines.

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6. Enter lines according to the following table: Line Type Amount Tax Code Distribution Account Description

1 Item 4,172 Blank XX-000-XXXX-0000-000 Tax

2 Item 2,828 Blank XX-000-XXXX-0000-000 Prep

3 Item 51,000 Blank XX-000-XXXX-0000-000 Server Hardware

4 Item 12,000 Blank XX-000-XXXX-0000-000 Fees

5 Item 24,000 Blank XX-000-XXXX-0000-000 Laptops

6 Item 2,000 Blank XX-000-XXXX-0000-000 Battery Backup

7 Item 1,200 Blank XX-000-XXXX-0000-000 24 Port Hub

8 Item 800 Blank XX-000-XXXX-0000-000 Cable

9 Item 10,000 Blank XX-000-XXXX-0000-000 High Speed Server

7. Save.

Validate the Invoice

8. (B) Actions. − Validate = Selected

9. (B) OK.

Note: If tax is not calculated, then increase amount for Line (tax) to 14,972.

Create Accounting for the Invoice

10. (B) Actions. − Create Accounting = Selected − Final Post = Selected

11. (B) OK.

Note: There are four criteria that must be met before an invoice distribution is sent to Fixed Assets:

The invoice distributions must be coded to an asset clearing account that is associated with a valid asset category. In your case, that account is XX-000-XXXX-0000-000.

The Track as Asset flag must be selected. This is done automatically if the natural account is qualified in GL as a type of “Asset.” In your case, XXXX is associated with an Account Type of Asset. For expensed items that you want to track in Oracle Assets, you must manually select the Track as Asset flag.

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The invoice distribution must be transferred to GL. Payables Transfer to General Ledger must have been run and the invoice distribution transferred to General Ledger. Note that it is NOT necessary to run Journal Import.

The GL Date specified when the Mass Addition Create process is run, includes the invoice distributions on or before the specified date.

Run the Mass Additions Create Process

12. Navigate to the Standard Request Submission window.

• (N) Other > Requests > Run. − Name = Mass Additions Create − GL Date = Last day of current calendar month − Book = XXCORP BOOK

13. (B) Submit.

14. Do not submit another request.

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Practice - Merge Tax and Prep into the Server Hardware (Required)

Overview

The Tax (line 1) and Prep (line 2) lines from your invoice were costs necessary to place the Server Hardware (line 3) into Service. In this practice, you merge the Tax and Prep lines into the Server Hardware line.

Hey, the Tax and Prep lines needto be merged with the ServerHardware when you prepare massadditions.

Tax: 4172.00

Prep: 2828.00

Server Hardware:51000.00

Assumptions



Tasks

Merge Tax and Prep Lines into the Server

1. Navigate to the Prepare Mass Additions form.

• (N) Mass Additions > Prepare Mass Additions.

2. Find Mass Additions by your Book name.

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3. Open the Server Hardware line and enter asset information according to the following table:

Field Value

Category COMPUTER-PC



4. Change the Queue to POST.

5. (B) Done. Merge the Tax and Prep lines into the Server Hardware line.

6. Prepare Line 3 for Posting

7. (B) Done.

8. Close the Mass Additions Summary window.

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Practice - Split an Invoice Line into Multiple Assets (Required)

Overview

Splitting Asset Lines is necessary when one invoice is used to purchase more than one of the same item and each of those items must have a different asset number. In this practice, you split the Laptop line into four different assets.

The 24000 laptop represents 4laptops. Make sure you split itduring your mass additionsprocess so 4 separate assetnumbers can be assigned.

24000.00

6000.00

6000.00

6000.00

6000.00

Assumptions



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Tasks

Prepare a Mass Addition

1. Find the Laptops line and change the units to 4. Also, prepare the addition based on the information in the following table:

Field Value


Description Laptop

Units 4

2. Complete the Assignments according to the following table:

Units Expense Account Location

4 XX-110-7360-0000-000 USA-CA-SAN FRANCISCO-2

Split the Mass Addition

3. Split the laptops into four distinct assets.

4. Query the 4 Assets and change the Queue to Post (or query, and then and use (M) Tools > Post All).

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Practice - Add an Invoice Line to an Existing Asset (Required)

Overview

Adding lines to existing assets may be necessary when multiple invoices that represent the same asset are entered over time. Also, discounts taken on an invoice may not be known at the time the invoice distribution is sent to Fixed Assets. If the discount comes later, it is treated as a cost adjustment to the original asset, changing its capitalized cost.

Reasons to Perform a Cost Adjustment

Discounts usually are interfaced to mass additions after the initial asset distribution.

AP corrects coding errors by reversing the invoice distributions.

Invoice distributions for CIP assets are added after the original asset shell.

Credit or Debit memos are added in Payables for returned items.

In this practice, you add invoice distributions to an existing asset. You first manually add an asset, and then merge the Battery Backup (line 6) distribution to the asset.

Don't forget that we just bought abattery backup for one of theservers. Make sure you use theAdd to Asset functionality whilepreparing mass additions. I don'twant to add it as an individualasset. It will simply be treated asan improvement to the server.

Battery Backup:2000.00

Asset #: XXXXX

Assumptions



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Tasks

Create a Quick Addition

1. Navigate to the Asset Additions form.


2. (B) Quick Additions: − Description = XXComputer Server − Tag Number = XXCOMPUTER − Category = COMPUTER-PC − Book = XXCORP BOOK − Cost = 100000 − Employee Name = Adams, Mr. Brian − Expense Account = XX-110-7360-0000-000 − Location = USA-CA-SAN FRANCISCO-1

3. (B) Done.

4. (B) OK.

Add the Battery Backup Line to the Asset with the Tag Number of XXCOMPUTER

5. Navigate to the Find Mass Additions window to find the invoice that you entered.

• (N) Mass Additions > Prepare Mass Additions.

6. Locate the invoice line for the battery backup.

7. Use the Add to Asset functionality to find the asset with a tag number of XXCOMPUTER and add the battery backup to that asset.

8. Change the queue to POST and tab out of the field.

Note: The system should save the line as a COST ADJUSTMENT. That is because you have adjusted the cost of an existing asset.

Post Mass Additions

9. Navigate to the Submit Request Set window.

• (N) Mass Additions > Post Mass Additions.

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10. Post mass additions using parameters according to the following table:

Program Stage Parameters

Mass Additions Post Mass Additions Post XXCORP BOOK

Mass Additions Posting Report Mass Additions Posting Report XXCORP BOOK

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Guided Demonstration - Automatic Preparation of Mass Addition Lines

Create a Value for a Minor Category

Before running Prepare Mass Additions to automatically prepare mass additions lines, you need to ensure that you have a unique category and clearing account.


(N) Setup > Financials > Flexfields > Key > Values.

1. In the Find Key Flexfield Segment window, enter: Field Value

Application Assets

Title Category Flexfield

Structure Vision Category Flexfield

Segment Minor Category

Independent Computer

2. (B) Find.

3. With your cursor in the first field in the Values table in the lower half of the window, (I) New to create a new record.

4. Enter MODEM as a new value for the minor category. Enter the same value in the Description field.

5. Save your work and close the Segment Values window.

Create a Natural Account




Application General Ledger

Title Accounting Flexfield

Structure Operations Accounting Flex

Segment Account

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7. (B) Find.


9. Enter a new four-digit account value, = 1599.

Note: Ensure that the four-digit account value that you enter has not been defined. If the value you enter has been defined previously, enter another value.

10. In the Description field, enter Demo Clearing Account XX.

11. Press the Tab key until the Segment Qualifiers window opens.

12. Change the Account Type to Asset. Leave the other fields as they are.

13. (B) OK.


Create an Asset Category


You need to set up an asset category using the minor asset category and the new account value that you defined.

(N) Setup > Asset System > Asset Categories.

15. In the Category field, enter a major category of Computer. For minor category, enter the name of the minor category that you set up, =Modem "description = Modem", COMPUTER-MODEM.

16. In the Book field, enter OPS CORP.

17. Enter the following account information: Field Value

Asset Cost 01-000-1560-0000-000

Asset Clearing 01-000-1599-0000-000

Depreciation Expense 01-000-7360-0000-000

Accumulated Depreciation 01-000-1660-0000-000

Revaluation Reserve 01-000-1670-0000-000

18. Accept the defaults for Bonus Expense and Bonus Reserve.

19. (B) Default Rules.

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20. Enter STL in the Method field.

21. Enter 5 in the Life Years field.

22. Enter Month in the Prorate Convention and Retirement Convention fields.

23. Save your work and close the Default Depreciation Rules window and the Asset Categories window.

Set Up Mass Additions Line Rules


(N) Setup > Asset System > QuickCodes.

24. Query the QuickCode called RULES TO PREPARE MASS ADDITIONS.

25. Verify that USE CUSTOM and USE CUSTOM ENERGY have disable dates. Verify that USE DEFAULT has no disable date. For example:

Value Description Disable Date

USE CUSTOM Use Custom 15-JAN-2007

USE CUSTOM ENERGY

Use Custom Energy

15-JAN-2007

USE DEFAULT Use Default

Create an Invoice in Oracle Payables

Responsibility: Payables, Vision Operations (USA)

26. Log in to Oracle Applications and choose the Payables, Vision Operations (USA) responsibility.

27. Navigate to the Invoices form:

(N) Invoices > Entry > Invoices.

28. Using the default Standard invoice type, enter the following Invoice Header information: Field Name Values

Trading Partner Advantage Corp

Supplier Site ADVANTAGE - US

Invoice Date Use date within the current open period in Oracle Assets, for example, 15-DEC-2008.

Invoice Number XXINVMA where XX represents any value you choose

Invoice Curr USD

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Invoice Amount $ 5,375.00

Payment Method Check

29. Save the invoice by clicking the Save icon on the toolbar or using CTRL + S.

30. (T) Lines.

31. Enter the following invoice line data (Note: you can use folder technology to make data entry easier): Num Type Amount Distribution Account Description

1 Item 5,000 01-000-1599-0000-000 Computer Parts

32. Save your work.

33. Validate your invoice by clicking the (B) Actions…1, and then selecting the Validate check box.

Note: If system did not calculate tax, then increase the amount in line to 5,375.

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34. (B) OK.

35. Create accounting for your invoice by clicking the (B) Actions…1 and selecting the Create Accounting check box. Select the Final Post option. Then click (B) OK. You receive a message stating that accounting has been created for the invoice.

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36. Close the Invoice Workbench window.

Create Mass Additions Lines


37. Proceed to the Submit Request form:

(N) Other > Requests > Run.

38. From the Requests form, click (B) Submit a New Request.

39. Select Single Request and click (B) OK.

40. Choose to run the Mass Additions Create process from the List of Values using the following parameters:

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Parameter Value

GL Date Use the invoice date of the invoice created (01-MMM-YYYY)

Book OPS CORP

41. (B) OK.

42. (B) Submit.

43. View the concurrent request to ensure that it completes normally.

44. Click (B) Submit a New Request.


46. Select the Mass Additions Create Report from the List of Values and enter OPS CORP as the parameter. Click (B) Submit.

47. (B) No.

48. When the request finishes, click (B) View Output and review the Mass Addition lines that were created.

49. Close the Requests window.

Run the Prepare Mass Additions Program


(N) Mass Additions > Prepare Mass Additions.

50. Enter OPS CORP in the Book field and your invoice number in the Invoice field and click (B) Find.

51. (B) Open.

52. In the Mass Additions window, confirm that your invoice contains no category information.

53. Close the Mass Additions window.

54. Change your responsibility to Fixed Assets Manager

55. Navigate to the Submit Request window.


56. Choose Single Request and click (B) OK.

57. Enter Prepare Mass Additions in the Name field.

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58. In the Parameters window, enter OPS CORP in the Book field.

59. (B) OK.

60. (B) Submit.

61. When you receive the message “Submit another request?” click (B) No.

62. Change your responsibility to Assets, Vision Operations (USA)

63. Find your invoice again in the Mass Additions window and confirm that the category has been added.

64. Click (B) Assignments and confirm that the expense account has been added.

65. In the Assignments window, enter USA-CA-SAN FRANCISCO-100 in the Location field.

66. Save your work and close the Assignments window.

67. Back on the Mass Additions window, enter a description in the Description field, for example, XX Asset.

68. Change the queue to Post.

Post Mass Additions


69. Enter the following values:


Mass Additions Post Mass Additions Post OPS CORP

Mass Additions Posting Report


OPS CORP

70. (B) Submit.

71. Navigate to the Requests window to view your requests:

(N) Other > Requests > Concurrent.

72. Click (B) Find.

73. Select the Request ID of the Mass Additions Posting Report that you just ran and click (B) View Output.

74. View your asset in the Asset Workbench.

(N) Assets > Asset Workbench.

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75. Enter your asset number in the Asset Number field and OPS CORP in the Book field and click (B) Find.


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Practice - Add Assets Using Web ADI

Overview

In this practice, you create an asset worksheet in the Oracle Web Applications Desktop Integrator (Web ADI), add asset data using that worksheet, and then upload the asset data to the Oracle Assets application creating new assets.

Assumptions

• If you are not attending training at an Oracle University center or Authorized Partner Education Center, you must have access to an Oracle Application Vision demonstration database or a comparable training test instance on which to complete this practice.

• Use the Oracle Assets seeded Responsibility > Assets, Vision Operations (USA).

• Replace XX in the practice with a unique identifier such as your initials or a number (for Instructor-Led Training classes, this number is assigned to you). This is necessary in order to create unique records within the database when performing the practice.

• Replace any year references of YYYY and YY with the calendar year of your choice or as directed by the Instructor (for example, 2002 or Jan-02). Keep in mind that some transactions require calendar dates and calendar periods to be defined and enabled before hand in order to be processed.

Prerequisites

• Excel 2000, 2002, or 2003

• If you have Excel 2002 or 2003 installed, change the Macro settings in Excel as follows:

• From the Tools menu, select Macro, Security, and then Security Level.

• Select the Medium option.

• Click the Trusted Sources tab.

• Select the Trust access to Visual Basic Project option.

Tasks

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Add Asset Data Using the Asset Worksheet Created

Add the following asset data to the asset worksheet that you just created. You can enter data directly into the worksheet cells, use the List of Values option, or a combination of both:

Column Asset # 1 Asset # 2 Asset # 3

Description XX_ADI BLDG XX_ADI TRUCK XX_ADI PC

Major Category BUILDING VEHICLE COMPUTER

Minor Category OFFICE OWNED HEAVY PC

Units 1 1 1

Cost 750,000 25,000 4,500

Country USA USA USA

State NY CA CA

City NEW YORK SAN FRANCISCO SAN FRANCISCO

Building NONE NONE NONE

Expense Account

XX 110 7320 0000 000

XX 120 7350 0000 000 XX 120 7360 0000 000

Clearing Account

XX 000 XXXX 0000 000

XX 000 XXXX 0000 000

XX 000 XXXX 0000 000

Date Placed in Service

First day of current open period in XXCORP BOOK



Upload Worksheet and Post to Oracle Assets

Upload the worksheet with the asset data entered into the XXCORP BOOK, choosing to post the asset data now.

View your assets using the Asset Workbench.

Create an Asset Worksheet in Web ADI

Create an asset worksheet in Web ADI for the XXCORP BOOK using the Default worksheet layout. The header information in your worksheet should reflect the first day of the current open period for the XXCORP BOOK in the format MM/01/YYYY.

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Solution: Add Assets Using Web ADI


1. Navigate to the Additions Integrator:

• (N) Mass Additions > Additions Integrator.

2. Enter the following values: Corporate Asset Book XXCORP BOOK

Viewer Excel 2003

Layout Add Assets – Default

3. (B) Open.

4. Click (B) Enable Macros if necessary.

5. In the Download window, click (B) Close when you receive the confirmation that the spreadsheet is created.

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6. In the header information, ensure that:

• Asset Type is set to Capitalized

• Depreciate is set to Yes

• Queue Name is set to Post

7. Add the following asset data into the worksheet: Column Asset # 1 Asset # 2 Asset # 3




Units 1 1 1

Cost 750,000 25,000 4,500

Country USA USA USA

State NY CA CA



Expense Account

XX110 7320 0000 000

XX 120 7350 0000 000 XX 120 7360 0000 000

Clearing Account

XX 000 XXXX 0000 000

XX 000 XXXX 0000 000

XX 000 XXXX 0000 000





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8. From your spreadsheet, choose Oracle > Upload.

9. Choose the following options:

• Rows to Upload = Flagged Rows

• Select:

• Validate Before Upload

• Create Assets

10. (B) Upload.

11. When you receive a confirmation that the upload was successful, note the request numbers and click (B) Close.

12. Navigate to the Requests window to view the output of the Mass Additions Posting Report that you ran when creating the upload:

(N) Other > Concurrent.

13. (B) Find.

14. Place your cursor on the request ID for the Mass Additions Posting Report.

15. (B) View Output.


17. View your newly added asset in the Asset Workbench:


18. In the Find Assets window, enter XX% in the Description field and OPS CORP in the Book field.

19. In the Assets window, place your cursor on one of the asset numbers and click (B) Open to view the asset. Repeat for the other two assets.


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Practice - Run Asset Related Reports (Required)

Overview

In this practice, you run the Asset Additions Report (Required).

Assumptions



Tasks

Run the Asset Additions Report

1. Navigate to the Request Submission form.


2. (B) OK to submit a single request. − Name = Asset Additions Report − Book = XXCORP BOOK − From Period = Dec-XX (Last year) − To Period = Dec-XX (Last year)

3. Submit the request and review the output after it has completed.

Run the Additions By Source Report

This report shows all the assets added during an accounting period range and the invoice lines associated with that asset. The report groups the assets by source: Mass Additions or Manual Transactions.



5. Submit a single request. − Name = Additions by Source − Book = XXCORP BOOK − From Period = Dec-XX (Last year) − To Period = Dec-XX (Last year)

6. Submit the request and view the output when it completes.

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Run the Asset Additions by Responsibility Report

This report shows the assets that you added to your cost centers through additions, capitalizations, and transfers in the accounting period that you specify. The report shows the owner and location of each unit.



8. Submit a single request. − Name = Asset Additions Responsibility Report − Book = XXCORP BOOK − Period = Dec-XX (Last year) − From Cost Center = 110 − To Cost Center = 140

9. (B) OK.

10. Submit the request and view the output when it completes.

Note: This report may not show the correct owners of the asset (obviously a problem that is fixed with a patch).

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CIP Asset Additions

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Practice - Add CIP Asset Shell (Required)

Overview

CIP Assets do not have a cost when they are added. Essentially you add a CIP “Shell” that is used to capture costs. As invoices and labor lines are added, the cost of the asset increases and the asset is eventually placed into service and depreciated.

Assumptions • Replace XX with your terminal number or initials.


Tasks Add a Project Number

1. Add Project Number XX-1000 to the Vision FA Asset Key value set.

Add a CIP Asset

2. Navigate to the Assets Workbench.



Field Value

Description XXCOMPUTER NETWORK

Tag Number XXCOMPNET

Category XXCOMPUTER-XXNETWORK

Asset Key 2000

Asset Type CIP

Book XXCORP BOOK



4. (B) Done.

5. Record the Asset Number assigned ___________________________.

Note: The choice of Asset Type is driven by the category. If the category is flagged as an expense type asset, the only valid choice in the pop list would be Expense.

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Practice - Add Labor to CIP Assets (Required)

Overview

Employee labor does not come through the Accounts Payable system and there is no interface from Payroll to Fixed Assets. Therefore, it must be added to the asset directly. A debit is generated to the CIP Cost account and a credit to the CIP Clearing account. The CIP Clearing account will have to be cleared manually with a journal entry in the General Ledger.

In this practice and the next practice, you add cost to the CIP assets directly with Source Lines and Mass Additions.

Assumptions



Tasks

Add Labor to a CIP Asset

1. Find the asset with tag number XXCOMPNET by navigating to the Assets window.

• (N) Assets > Asset Workbench. − Tag Number = XXCOMPNET − Book = XXCORP BOOK

2. (B) Find.

3. (B) Source Lines.

4. Enter Source Line information according to the following table:

Invoice Number Line Description Line Amount

1 Employee Labor 7500

5. (B) Done.

Note: Adding labor to this asset created a debit of 7500 to an asset cost account and 7500 to an asset clearing account. A journal entry in the General Ledger or in another subledger is necessary to clear the clearing account.

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Practice - Add Invoice Lines to a CIP Asset (Required)

Overview

Most of the cost associated with a CIP asset comes from Accounts Payable during the Mass Additions process.

Assumptions



Tasks

Add Invoice Lines from Mass Additions to a CIP Asset

1. Navigate to the Prepare Mass Additions window.

• (N) Mass Additions > Prepare Mass Additions. − Invoice Number = XXINV

2. Add the Hub, Cable, and High Speed Server to the CIP asset.

• Select line for Hub

• (B) Add to Asset

• Asset Number = Number for XXComputer Network

• (B) Find;

• Repeat steps for cable and high speed server

Prepare the Invoice Lines for Posting

3. Prepare the additions so that they may be posted.

• M) Tools > Post All, (B) OK, (B) OK

Post Mass Additions

4. Navigate to the Submit Request Set window.

• (N) Mass Additions > Post Mass Additions.

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• Book = XXCorp Book, (B) OK

5. Post your additions, (B) Submit

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Practice - Capitalize a CIP Asset (Required)

Overview

When CIP Assets are complete, they may be placed in service through the Capitalize CIP Assets form. In the following practice, you capitalize the asset with Tag Number XXCOMPNET.

Note: Fixed Assets may be used for simple CIP projects (Oracle Projects is used for complex CIP projects). One great use for the Asset Key flexfield is to store project number. All assets associated with the same project have the same project number in the Asset Key flexfield. When the project is complete, the Capitalize CIP assets form can be used to search for all assets with the same project number. All assets can be easily selected and placed in service.

Assumptions



Tasks

Capitalize the Asset with Tag Number XXCOMPNET

1. Navigate to the Capitalize CIP Assets window.

• (N) Assets > Capitalize CIP Assets. − Book = XXCORP BOOK − Asset Key = 2000

2. (B) Find.

3. Select the record selection check box.

4. (B) Capitalize.

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Asset Adjustments

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Practice - Reclassify an Asset (Required)

Overview

In this practice, you reclassify an asset.

Assumptions



Tasks

Reclassify an Asset



2. Find the asset with XXCAR as the tag number.

• Tag = XXCar

• Book = XXCorp Book

• (B) Find

3. (B) Open.

4. Change the asset’s category from VEHICLE-OWNED STANDARD to VEHICLE-OWNED HEAVY.

5. (B) Done.


Note: Oracle Assets transfers Cost and Accumulated Depreciation to the accounts associated with the new category.

Note: It is not possible to do a prior period reclassification.

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Practice - Adjust Asset Units (Required)

Overview

In this practice, you adjust asset units.

Assumptions



Tasks

Adjust Asset Units



2. Find the asset with the tag number XXCAR.

• Tag = XXCar


• (B) Find

3. (B) Open.

4. Adjust the units to 2, and then click (B) Continue.

5. Perform additional adjustments so that the final assignments are the same as those in the following table:

Unit Name Expense Account Location

1 Adams, Mr. Brian XX-110-7350-0000-000 USA-CA-SAN FRANCISCO-1

1 Ray, Ms. Amy XX-140-7350-0000-000 USA-CA-SAN FRANCISCO-2

6. (B) Done.

7. Are any journal entries created based on this unit adjustment? Why or why not?

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Practice - Adjust Asset Cost (Required)

Overview

In this practice, you adjust the cost of an asset.

Assumptions



Tasks

Adjust the Cost of an Asset



2. Find your asset with a tag number of XXCAR.

• Tag = XXCar


• (B) Find

3. Update the cost to 50,000. Do not amortize the adjustment.

• (B) Book


• (B) Done

Note: The option to Amortize NBV Over Remaining Life was added to enable the ability to enter accumulated depreciation on a newly added asset and to have this “adjustment” treated as an amortized adjustment. In prior releases of Oracle Assets, it was not possible to perform amortized adjustments in the period that an asset was added because the “Amortize Adjustment” checkbox was not available until after depreciation had been run for the asset (you received an APP-47782 error when trying to select this checkbox).

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Practice - Transfer an Asset (Required)

Overview

In this practice, you transfer an asset.

Assumptions



Tasks

Transfer an Asset



2. Find the asset with tag number XXCAR.

• Tag = XXCar


• (B) Find

3. (B) Assignments.

4. Change the assignment from Ray, Ms. Amy to Frans, Mr. Hans Fritz. − Expense Account = XX-140-7350-0000-000 (Hint: Use F5 to copy prior field) − Location = USA-CA-SAN FRANCISCO-2

5. (B) Done.

Note: If you transfer an asset during the period in which it was added, the transfer date automatically defaults to the asset’s date placed in service and you cannot change it.


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Practice - Add Assets for Mass Transactions (Required)

Overview

In this practice, you add four assets into the corporate book, XXCORP BOOK, accepting the default rules associated with this asset category. These assets are used in the other practices in this module. You also run depreciation to close the period.

Assumptions



Tasks

Add Assets

1. Navigate to the QuickAdditions window.



3. Enter asset information according the following table:

Field Value

Description XXCHEVY IMPALA

Tag Number XXCHEVY IMPALA


Book XXCORP BOOK

Cost 20,000

Employee Name Adams, Mr. Brian, #43


Location USA-CA-SAN FRANCISCO-XXBLDG200

4. (B) Done.

5. Note the asset number assigned: _______________________________.

6. (B) OK.

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Field Value

Description XXFORD TRUCK

Tag Number XXFORD TRUCK

Category VEHICLE-OWNED HEAVY

Book XXCORP BOOK

Cost 30000




10. (B) Done.


12. (B) OK.





Field Value

Description XXOFFICE BUILDING

Tag Number XXOFFICE


Book XXCORP BOOK

Cost 1,000,000.




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16. (B) Done.

17. Note the asset number assigned:_______________________________.

18. (B) OK.





Field Value

Description XXMANUFACTURING BUILDING

Tag Number XXBLDG MFG

Category BUILDING-MANUFACTURING

Book XXCORP BOOK

Cost 2,000,000.

Employee Name Denby, Ms. Jean #78



22. (B) Done.


24. (B) OK.

Run Depreciation to Close the Period

25. Navigate to the Depreciation form.

• (N) Depreciation > Run Depreciation. − Book = XXCORP BOOK − Period = Dec-XX (Last year) − Close Period = Selected

26. Submit the request.

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Monitor the Depreciation Process

27. (M) View > Requests.

28. (B) Find.

29. (B) Refresh Data until the processes complete.

Verify the Current Open Period

30. Navigate to the Books form.


31. Query your XXCORP BOOK.

32. Verify that the current period is Jan-YY.

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Practice - Mass Reclassify Assets (Required)

Overview

In this practice, you use mass reclassifications to reclassify your Chevy Impala and Ford Truck, with categories of VEHICLE-OWNED STANDARD and VEHICLE.OWNED HEAVY, to their new category of VEHICLE-LEASED STANDARD.

Assumptions



Tasks

Initiate the Mass Reclassification Request

1. Navigate to the Mass Reclassifications window.

• (N) Mass Transactions > Reclassifications. − Book = XXCORP BOOK

2. Place the cursor in the Expense Accounts field in the Assets to Reclass region:

Expense Accounts Low High

Company XX XX

Department 110 120

Account 7320 7350

Sub-Account 0000 0000

Product 000 000

3. Location = USA-CA-SAN FRANCISCO-XXBLDG200

4. Place the cursor in the New Category field in the Reclass region: − New Category = VEHICLE-LEASED STANDARD

5. Select the check boxes for fields according to the following table:

Field Value

Copy Category Descriptive Flexfield to New Category Selected

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Inherit Depreciation Rules of New Category Selected

Amortize Adjustments Deselected

Note: If the new category has a different descriptive flexfield structure, no descriptive flexfield information is transferred.

Preview the Mass Reclassification Request

6. Preview the Mass Reclassification.

7. Record the Mass Transaction Number: ___________.

8. Navigate to the View Requests form. (M) View > Requests (B) Find

9. View the report.

10. Verify that the correct assets are selected.

Note: If the correct assets are not selected, delete your Mass Transaction Request and redo it.


Run the Mass Reclassification Request

12. Navigate to the Mass Reclassifications window.

• (N) Mass Transactions > Reclassifications.

13. Query your Mass Reclassification using the Mass Transaction Number (Hint: F11, Mass Transaction Number = Your Mass Trans Number, Ctrl+F11).

14. (B) Run.

15. Monitor the request until it completes.

16. Verify whether the correct assets were reclassified.

Note: There is no such thing as a “prior period” reclassification. O

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Practice - Mass Transfer Assets (Required)

Overview

In this practice, you transfer a group of assets.

Assumptions



Tasks

Initiate the Mass Transfer Request

1. Navigate to the Mass Transfers window.

• (N) Mass Transactions > Transfers. − Book = XXCORP BOOK

2. Place the cursor in the Expense Accounts field in the Transfers region:

Expense Accounts Low High

Company XX XX

Department 110 130

Account 7340 7360

Sub-Account 0000 0000

Product 000 000

3. Transfer to Expense Account XX-140-7405-0000-000

Field Transfer From Transfer To


USA-CA-SAN FRANCISCO-NONE

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Preview the Mass Transfer Request - Navigation Path: (M) View > Requests (B)Find - Preview the mass transfer request. - Note the Mass Transaction Number: __________. - Review the output when the request is complete.

Note: If the correct assets are not selected, delete your Mass Transaction Request and redo it.


Run the Mass Transfer Request

5. Navigate back to the Mass Transfers window.

• (N) Mass Transactions > Transfers.

6. Query your Mass Transfer using the Mass Transaction Number (Hint: F11, Mass Transaction Number = Your Mass Trans Number, Ctrl + F11).

7. Run the request.

8. Verify whether the correct assets were reclassified.

Note: You can perform a Prior Period transfer. However, the transfer date for a prior period transfer must be in the current fiscal year.

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Guided Demonstration - Schedule Asset Maintenance


(N) Assets > Maintenance > Schedule Events

To schedule asset maintenance, perform the following:

1. Open the Schedule Maintenance Events window.

2. Enter the Start Date and End Date of the current year.

3. Enter the depreciation book containing the assets for which the maintenance will be scheduled.

• Depreciation Book = OPS CORP

4. Enter Asset Number: 100051.

5. Enter the following information:

• Event Name = Quarterly Maintenance

• Frequency = 90 days

6. Select Run to schedule the maintenance events.

To view maintenance schedules, perform the following:

(N) Assets > Maintenance > View Details.

7. Navigate to the Maintenance Details window.

8. Query the asset for the maintenance event that you want to view.

9. Optionally, enter changes.

10. Save your work.

To purge maintenance schedules, perform the following:

(N) Assets > Maintenance > Purge.

11. Navigate to the Purge Maintenance Schedules window.

12. Enter the selection criteria to select the maintenance schedules that need to be purged, such as Schedule ID, Asset Number, or Maintenance Date.

13. Select Purge.

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Practice - Enter a Physical Inventory (Required)

Overview

In this practice, you enter a physical inventory.

Assumptions



Tasks

Enter a Physical Inventory

1. Navigate to the Physical Inventory window.

• (N) Physical Inventory > Enter. − Inventory Name = XXInventory

2. (B) Open.

3. In the Inventory Entries, enter the following physical inventory. Fill in any other required fields as necessary.

Asset # Tag # Units Location

XXCAR You choose You choose

XXCOMPNET You choose You choose

XXCOMPUTER You choose You choose

XXBLDG You choose You choose

4. Save your work. O

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Practice - Create and Compare a Physical Inventory in Web ADI

Overview

In this Practice, you create a new Physical Inventory spreadsheet in the Oracle Web Applications Desktop Integrator (Web ADI). You will then use this template to record a physical inventory and run the Physical Inventory Comparison Report, all in ADI.

Assumptions

• If you are not attending training at an Oracle University center or Authorized Partner Education Center, you must have access to an Oracle Application Vision demonstration database or a comparable training test instance on which to complete this Practice.


• Replace XX in the Practice with a unique identifier such as your initials or a number (for Instructor-Led Training classes, this number is assigned to you). This is necessary in order to create unique records within the database when performing the Practice.

• Replace any year references of YYYY and YY with the calendar year of your choice or as directed by the Instructor (for example, 2002 or Jan-02). Keep in mind that some transactions require calendar dates and calendar periods to be defined and enabled beforehand in order to be processed.

• The segment separator for the accounting flexfield may not be a dash “-”. Substitute the applicable segment separator if necessary.

• The Physical Inventory XX_Physical is defined and saved in the Asset Management application. For Instructor-Led Training classes, the Instructor creates this Physical Inventory as part of his or her guided demonstration. If XX_Physical is not created, you can do so by following the navigation path (N) Physical Inventory > Enter, and then adding the XX_Physical record.

Prerequisites

• Excel 2000, 2002, or 2003.





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Tasks

Create a New Physical Inventory Template

1. Create a new spreadsheet for recording physical inventory data in Web ADI using the physical inventory that you created in an earlier lesson.

Enter Physical Inventory Data

2. Using the spreadsheet that you just created, enter the following physical inventory data:

Location: USA-CA-SAN FRANCISCO-NONE Asset Number Units

XX124 1

XX125 1

XX126 1

100076 1

100078 1

100079 1

100080 1

100081 1

Upload Physical Inventory and Run Comparison

3. Upload the Physical Inventory data that you recorded, choosing to Run and View the Physical Inventory Comparison report.

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Solution: Create and Compare a Physical Inventory in Web ADI

Create a New Physical Inventory Spreadsheet

Responsibility = Assets, Vision Operations (USA) in ADI

1. Navigate to the Physical Inventory Integrator.

• (N) Physical Inventory > Integrator.

2. In the Record Physical Inventory window, select the XX_Physical.

3. Enter the following values: Select Inventory XXInventory (the physical inventory you

created earlier)

Viewer Excel 2003

Layout Physical Inventory – Default

4. (B) Next.

5. (B) Open.


Enter Physical Inventory Data

7. In the Download window, click (B) Close.

8. Enter the following in the spreadsheet:

Location: USA-CA-SAN FRANCISCO-NONE Units Asset Number

1 XX-124

1 XX-125

1 XX-126

1 100076

1 100078

1 100079

1 100080

1 100081

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Upload Physical Inventory and Run Comparison

9. Navigate to the Upload to Interface option:

• From your spreadsheet, choose Oracle > Upload.

10. In the Physical Inventory Upload window, select the following options:

Rows to Upload = Flagged Rows

Duplicate Assets = Do Not Upload

Select Validate Before Upload, Run Comparison, and View Comparison Results.

11. (B) Upload.

12. When the upload completes successfully, click (B) Close. If there are any errors in your upload, fix the errors and rerun the upload.

13. Return to the Navigator to view your requests.

• (N) Other > Requests > Concurrent.

14. (B) Find.

15. Select the Physical Inventory Comparison Report that you ran and choose (B) View Output.

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Depreciating Assets

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Practice - Run Depreciation (Optional)

Overview

In this practice, you run depreciation if you have not already.

Assumptions



Tasks

Run Depreciation to Close the Period

1. Navigate to the Depreciation form.

• (N) Depreciation > Run Depreciation. − Book = XXCORP BOOK − Period = Accept Default − Close Period = Selected


Monitor the Depreciation Process

3. Monitor the requests until they complete successfully.

Verify the Current Open Period

4. Navigate to the Books form.


5. Query your asset book.

6. Verify that the current period is Jan-YY. O

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Practice - Set up a Depreciation Calendar (Required)

Overview

In this practice, you run depreciation if you have not already.

Assumptions



Tasks

Set Up a Depreciation Calendar

1. Navigate to the Calendars window.

• (N) Setup > Asset System > Calendars. − Calendar = XXMonthly − Description = XXMonthly − Fiscal Year Name = ACCOUNTING − Periods per Year = 12

2. Enter the periods according to the following table:

Note: YY = Current Year

Period Name From Date To Date

1 Jan-YY 01-Jan-20YY 31-Jan-20YY

2 Feb-YY 01-Feb-20YY 29-Feb-20YY

3 Mar-YY 01-Mar-20YY 31-Mar-20YY

4 Apr-YY 01-Apr-20YY 30-Apr-20YY

5 May-YY 01-May-20YY 31-May-20YY

6 Jun-YY 01-Jun-20YY 30-Jun-20YY

7 Jul-YY 01-Jul-20YY 31-Jul-20YY

8 Aug-YY 01-Aug-20YY 31-Aug-20YY

9 Sep-YY 01-Sep-20YY 30-Sep-20YY

10 Oct-YY 01-Oct-20YY 31-Oct-20YY

11 Nov-YY 01-Nov-20YY 30-Nov-20YY

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12 Dec-YY 01-Dec-20YY 31-Dec-20YY

Note: After you fill in the first record, most of the From and To Date information will default.

Note: The name of the period must exactly match the name of the corresponding period in the General Ledger or the journal entries will not be created.

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Practice - Set up a Depreciation Method (Required)

Overview

In this practice, you set up a depreciation method.

Assumptions



Tasks

Set Up a Depreciation Method

1. Navigate to the Depreciation Methods window.

• (N) Setup > Depreciation > Methods. − Name = XXACRS − Description = XXACRS − Method Type = Table − Calculation Basis = Cost − Depreciate in Year Retired = Selected − Straight-line Method = Selected − Life Years = 3 − Prorate Periods Per Year = 12

2. (B) Rates and enter the following parameters:

1 2 3 4 5 6 7 8 9 10 11 12

Y1 .4 .4 .4 .4 .3 .3 .3 .3 .2 .2 .2 .2

Y2 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3

Y3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3

Y4 0 0 0 0 .1 .1 .1 .1 .2 .2 .2 .2

3. Save.

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Practice - Set up a Prorate Convention (Required)

Overview

In this practice, you set up a prorate convention.

Assumptions



Tasks

Set Up a Prorate Convention

1. Navigate to the Prorate Conventions window.

• (N) Setup > Asset System > Prorate Conventions. − Convention = XXSAME − Description = SAME MONTH PRORATE − Fiscal Year = XXACCOUNTING

2. Enter the dates in Prorate Convention according to the following table:

Note: Accept the Starting date. Create two years of the prorate convention.

From Date To Date Prorate Date

01-JAN-20XX 31-JAN-20XX 01-JAN-20XX

01-FEB-20XX 28-FEB-20XX 01-FEB-20XX

01-MAR-20XX 31-MAR-20XX 01-MAR-20XX

01-APR-20XX 30-APR-20XX 01-APR-20XX

01-MAY-20XX 31-MAY-20XX 01-MAY-20XX

01-JUN-20XX 30-JUN-20XX 01-JUN-20XX

01-JUL-20XX 31-JUL-20XX 01-JUL-20XX

01-AUG-20XX 31-AUG-20XX 01-AUG-20XX

01-SEP-20XX 31-SEP-20XX 01-SEP-20XX

01-OCT-20XX 31-OCT-20XX 01-OCT-20XX

01-NOV-20XX 30-NOV-20XX 01-NOV-20XX

01-DEC-20XX 31-DEC-20XX 01-DEC-20XX

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3. Save your work.

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Practice - Run Depreciation Projections (Required)

Overview

In this practice, you run the depreciation projections report.

Assumptions



Tasks

Submit Depreciation Projection

1. Navigate to the Depreciation Projections window.

• (N) Depreciation > Projections. − Projection Calendar = Monthly − Number of Periods = 6 − Starting Period = Feb-YY (where YY is the CURRENT year) − Book = XXCORP BOOK − Cost Center = Selected − Asset = Selected

2. (B) Run.

View the Depreciation Projection Report

3. Monitor the request until it completes successfully.

4. Review the output. (M) View > Requests (B) Find

Note: The actual depreciation may be different from depreciation projections. For example, the Depreciation Projection functionality does not look at assets pending retirement.

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Practice - Perform a What-If Analysis (Required)

Overview

In this practice, you perform a “What-If” analysis to determine the depreciation impact of changing life in years from 4 to 3.

Assumptions



Tasks

Perform a What-If Analysis

1. Navigate to the What-If Analysis window.

• (N) Depreciation > What-If Analysis (T) Assets to Analyze

2. Enter the report parameters according to the following table:

Field Value

Book XXCORP BOOK

Start Period Feb-YY (Where YY is the current year)

Number of Periods 6


Method STL

Prorate Convention MID-MONTH

Life Years 3


View the What-If Analysis Report



6. Review the output.

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Practice - Project Depreciation for Assets not yet Placed in Service (Required)

Overview

In this practice, you project depreciation for a computer server that is not yet placed in service.

Assumptions



Tasks

Project Depreciation

1. Navigate to the What-If Depreciation window.

• N) Depreciation > What-If Analysis (T) Hypothetical Assets


Field Value

Book XXCORP BOOK

Start Period Current period of XXCORP BOOK

Number of periods 6

3. (T) Hypothetical Assets.


Field Value


Date in Service 01-Jan-20YY

Cost 20000


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View the What-If Analysis Report



8. Review the output.

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Processing Retirements

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Practice - Partially Retire an Asset (Required)

Overview

In this practice, you retire half of an asset’s units and remove it from the assigned employee. Note the change in the total cost of the partially retired asset, and then process the retirement.

Assumptions



Tasks

Retire 1 of 2 Units for an Asset

1. Navigate to the Asset Workbench.

• (N) Assets > Asset Workbench: − Tag Number = XXCAR − Book = XXCORP BOOK

2. (B) Find.

3. (B) Retirements: − Book = XXCORP BOOK

4. Accept the default Retire Date.

5. Note that the status is Pending.


Field Value

Units Retired 1

Retirement Type XXSALE

Proceeds of Sale 5,000

7. (B) Continue.

8. Place the cursor in the Unit Change field associated with Adams, Mr. Brian. − Unit Change = -1

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9. (B) Done.


Run the Calculate Gains and Loses Program

11. Navigate to the Gains and Loses submission window.

• (N) Depreciation > Calculate Gains and Loses.

12. Run the program for XXCORP BOOK.

13. Monitor the request and review the output when complete.

Run the Asset Retirements Report

14. Navigate to the request submission window:


15. Run the Asset Retirements Report for the XXCORP BOOK for the current period.

16. Navigate to the View Requests form. (M) View > Requests (B) Find.

17. Monitor the request and review the output when complete.

Note: You can perform a “Prior Period Retirement” on an asset, provided it does not cross a fiscal year.

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Practice - Reinstate a Partially Retired Asset (Required)

Overview

In this practice, you reinstate the asset that you partially retired.

Assumptions



Tasks

Reinstate an Asset

1. Navigate to the Asset Workbench.

• (N) Assets > Asset Workbench: − Tag Number = XXCAR − Book = XXCORP BOOK

2. (B) Find.

3. (B) Retirements.

4. Ctrl + F11 (Query).

5. Note that the button has changed to Reinstate, Gains and Losses have been calculated, and the Status = Processed.

6. (B) Reinstate.

7. (B) OK.

8. Return to the Navigator

Note: Because the Calculate Gains and Losses program was run, the button description is Reinstate. If the Calculate Gains and Losses program was not run, the button description would be Undo Retirement. The difference is that Undo retirement does not generate accounting but Reinstating does.

Note: You cannot reinstate an asset if it was retired in a prior fiscal year.

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Guided Demonstration - Perform a Mass Retirement


(N) Mass Transactions > Retirements > Create and Reinstate.

1. In the Mass Retirements form, enter the following data: Field Name Value

Book XXCORP BOOK

Retire Date Accept the default.

Retirement Type Sale

Proceeds of Sale 5,000,000

Cost of Removal 50,000


2. (B) Create.


4. Select the Mass Retirements Report line.

5. (B) View Output.

6. Close the View Output window, and then close the Requests form.

7. Reopen the Mass Retirements form.

8. Query the mass retirement that you just created.

9. (B) Retire.




13. Back in the Mass Retirements form, query the mass retirement that you just performed.

14. (B) Undo.

15. (B) OK.

Note: Because no activity has been generated yet (such as the Calculate Gains and Loss program) the "Undo" feature is available.

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Guided Demonstration - Run Create Accounting

1. Open the Submit Requests window.

• (N) Create Accounting - Assets.

2. In the Parameters window, enter the following: Field Value

Book Type Code XXCORP BOOK

End Date Leave as the system date

Accounting Mode Draft

Errors Only No

Report Summary

Include User Transaction Identifiers No

Note: The Transfer to General Ledger and Post in General Ledger fields are disabled when you run the process in Draft accounting mode.

3. (B) Okay.

4. (B) Submit.

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Practice - Perform Asset Inquiries

Overview

In this practice, you perform inquiries to obtain asset information.

Assumptions





Tasks

Investigate an Asset Transaction

You are asked to find out information for an asset transaction and are only given the Reference Number. You have been informed that the asset is in the XXCORP book and the Reference Number is 108.

• What is the Asset Number and Description?

• Where is the asset located?

Perform Inquiries in Oracle Subledger Accounting

From Oracle Assets, perform the following Oracle Subledger Accounting inquiries:

• Accounting Events: Find accounting events with a From Transaction Date of November 1, 2006, a To Transaction Date of April 30, 2007, and the Ledger Vision Operations (USA). View the transaction history and T-accounts for one of these accounting events.

• Journal Entries: Find journal entries in the ledger Vision Operations (USA). The From GL Date should be after December 31, 2006. Compare two journal entries from the list of journal entries.

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• Journal Entry Lines: Find journal entry lines in the Vision Operation (USA) ledger with a balancing segment of XX. Select one of the journal entry lines and view the transaction history and journal entry.

Perform a Financial Information Inquiry

You have been asked to provide the following information for the XXCORP book asset # 100081:

• Where was its last known location?

• What were the accounts used to record the original addition?

• How much depreciation expense was recorded for the asset in the JUL-96 period?

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Solution: Perform Asset Inquiries


Responsibility = Assets, Vision Operations (USA)

1. Navigate to the Financial Information inquiry form:

• (N) Inquiry > Financial Information.

2. In the Find Assets window, enter 100081 in the Asset Number field and OPS CORP in the Book field and click (B) Find.

3. Click (B) Assignments and click in the Location field. Click the (I) Edit Field. Note the Location, which is USA-CA-SAN FRANCISCO-NONE. Close the Assignments form.

4. Click the (B) Books from the Assets form.

5. In the View Financial Information form, click (B) Transactions.

6. Select (M) Tools > View Accounting and note the accounts used to record the original addition:

• DR XX-740-1530-0000-000 30,000.00

• CR XX-000-1570-0000-000 30,000.00

7. Close all the windows until you return to the View Financial Information form. Click the (T) Depreciation.

8. In the Depreciation tabbed region, scroll down until you see the JUL-96 period. Note that the depreciation expense for this period was 250.00.

9. Close all the windows and return to the navigator.



10. Navigate to the Transaction History inquiry form:

• (N) Inquiry > Transaction History.

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11. In the Find Transactions form, enter the Book OPS CORP and the Reference Number 108. Click (B) Find.

12. Note that the asset number is 100071 and the description is LAND.

13. To find the Location, click the (I) Find.

14. In the Find Transactions form, clear the Reference Number field and enter 100071 in the Asset Numbers range field. Click the (B) Find.

15. In the Transaction History window, click the TRANSFER IN line and click the (B) Details.

16. Click in the Location field in the Transaction Details form. Click the (I) Edit Field and note that the Location is USA-CA-SAN FRANCISCO-NONE. Close all windows and return to the Navigator.


(N) Inquiry > Subledger Accounting > Accounting Events.

17. On the Accounting Events page, enter: Field Name Value

From Transaction Date 01-Nov-2006

To Transaction Date 30-Apr-2007

Ledger Vision Operations (USA)

18. Click (B) Go.

19. Click Show on the first transaction in the list of accounting events.

20. Go back to the Accounting Events window (you may need to click (I) Back) and click (B) View Journal Entries to view journal entries for this accounting event.

21. Click (B) View T-Account.

22. In Oracle Assets on the Options window, click (B) T Accounts.

23. Close all pages and forms.

(N) Inquiry > Subledger Accounting > Journal Entries

24. On the Subledger Journal Entries page, enter:

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Field Name Value

Ledger (is) Vision Operations (USA)

From GL Date (after) 31-Dec-2006

25. (B) Go.

26. Click the Select check box next to the first two journal entries.

27. (B) Compare.

28. Close the Subledger Journal Entries page.

(N) Inquiry > Subledger Accounting > Journal Entry Lines

29. (B) Search

30. On the Journal Entry Lines page, enter: Field Name Value


Balancing Segment (is) XX

31. Click (B) Go.

32. Select one of the transactions.

33. (B) View Transaction.

34. Close the Transaction screen


35. (B) Search.




37. (B) Go.


39. (B) View Journal Entry.

40. Close the Subledger Journal Entry Lines window.

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Tax Books

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Practice - Create a Tax Book (Required)

Overview

In this practice, you create a Tax book.

Assumptions



Tasks

Create a Tax Book

1. Navigate to the Books Controls form.


2. Enter parameters according to the following table:

Field Value

Book XXTAX BOOK

Class Tax

Description XXTAX BOOK

Associated Corporate Book XXCORP BOOK

3. (T) Calendar.


Field Value

GL Set of Books Vision Operations

Allow GL Posting No



Current Period Dec-XX (Where XX is the past fiscal year)

Divide Depreciation Evenly

Depreciate If Retired in First Year Yes

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5. (T) Accounting Rules.

6. Select the specified check boxes or leave them deselected:

Field Value

Allow Amortized Changes Selected

Allow Mass Changes Selected

Allow Revaluations Deselected

7. (T) Natural Accounts.

8. Use the following information to set up accounts:

Account Gain Loss Clearing



Net Book Value Retired 7854 7855 N/A

Reval Reserve Retired 7854 7855 N/A

Field Account




Account Generator Defaults XX-000-9999-0000-000

9. (T) Tax Rules.

10. Enter tax rules according to the following table:

Field Value

Allow Reserve Adjustments Selected

Allow Expense Ceilings Selected

Allow Mass Copy Selected

11. Save.

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Practice - Add Categories to a Tax Book (Required)

Overview

In this practice, you add categories to your Tax book.

Assumptions


• You must have access to an Oracle Application Vision database or to a comparable training test instance at your site on which to complete this practice.

Tasks

Add Categories to a Tax Book

1. Navigate to the Asset Categories window.


2. Query each category listed in the following table.

3. Move the cursor in the Book field.

4. (M) File > New: − Book = XXTAX BOOK

5. Specify the accounting information according to the following table (To enter Method and Prorate Convention, click the Default Rules button):


Category Asset Cost

Asset Clearing

Dep Seg

Accum Dep

Method and Life

Prorate Conv

BUILDING-MANUFACTURING

XX-000-1520-0000-000

XX-000-15XX-0000-000

XX-000-7320-0000-000

XX-000-1620-0000-000

MACRS HY 20

Half Year

BUILDING-OFFICE

XX-000-1520-0000-000

XX-000-15XX-0000-000

XX-000-7320-0000-000

XX-000-1620-0000-000

MACRS HY 20

Half Year

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COMPUTER-PC XX-000-1560-0000-000

XX-000-15XX-0000-000

XX-000-7360-0000-000

XX-000-1660-0000-000

MACRS HY 3

Half Year

VEHICLE-LEASED STANDARD

XX-000-1550-0000-000

XX-000-15XX-0000-000

XX-000-7350-0000-000

XX-000-1650-0000-000

MACRS HY 3

Half Year

VEHICLE-OWNED HEAVY

XX-000-1550-0000-000

XX-000-15XX-0000-000

XX-000-7350-0000-000

XX-000-1650-0000-000

MACRS HY 3

Half Year

VEHICLE-OWNED STANDARD

XX-000-1550-0000-000

XX-000-15XX-0000-000

XX-000-7350-0000-000

XX-000-1650-0000-000

MACRS HY 3

Half Year


XX-000-1560-0000-000

XX-000-15XX-0000-000

XX-000-7360-0000-000

XX-000-1660-0000-000

MACRS HY 3

Half Year

6. Save your work.

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Practice - Verify Categories are Added to your Tax Book (Required)

Overview

In this practice, you add categories to your Tax book.

Assumptions



Tasks

Verify Categories Are Added to Your Tax Book

1. Navigate to the Submit a New Request window:


2. Submit a Single Request: − Request Name = Asset Category Listing − Book Name = XXTAX BOOK


4. Check to ensure that all the categories you added are in your Tax book.

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Practice - Run Initial Mass Copy (Required)

Overview

Perform an Initial Mass Copy from your corporate book (XXCORP BOOK) to your Tax book (XXTAX BOOK). Initial Mass Copy copies assets for a CLOSED FISCAL YEAR in a Corp book into the CURRENT OPEN PERIOD in an associated Tax book.

Note: Depreciation should have been run for Dec-YY in the Corp book before this practice.

Assumptions



Tasks

Run Initial Mass Copy

Note: The Calculate Gains and Losses program needs to be generated prior to this lab

1. Navigate to the Initial Mass Copy window.

• (N) Tax > Initial Mass Copy. − Book = XXTAX BOOK


3. Review the output when it completes.

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Supplemental Practices Chapter 2 - Page 1

Supplemental Practices Chapter 2

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Release 12.x Oracle Asset Management Fundamentals

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Guided Demonstration - Oracle Assets Key Flexfield Setup


(N) Setup > Financials > Flexfields > Key > Segments.

1. Use the Find icon to query the Key Flexfield -Assets-Category Flexfield.

2. Note the following in the Key Flexfield Segments form:

• Only one enabled flexfield structure is found (only one allowed per Oracle Assets installation).

• The Allow Dynamic Inserts check box is not selected (should not be allowed with the Asset Category key flexfield).

3. Click the Segments button to open the Segments Summary form.

4. With the Major Category segment selected, click the Value Set button and note in the Value Sets form that the Value Validation is Independent.


6. Select the Minor Category segment and click the Value Set button.

7. Note that the Value Set for this segment is Dependent.

8. Click the Edit Information button to show the Dependent segment is linked to the Independent segment and also requires a default value to be entered.


10. In the Segments Summary form, select the Major Category segment again and click the Flexfield Qualifiers button. In the Flexfield Qualifiers form, note that the Major Category segment is selected for the Major Category qualifier (no redundancy intended).

11. Close the Flexfields Qualifier form.

12. Back in the Segments Summary form, click the Open button.

13. Review the fields in the Segments form noting that the Major Category segment is Required.

14. Close the Segments and the segments Summary forms.

15. If time permits, place the cursor back in the Application field and find the other two Oracle Assets key flexfields.

16. For each applicable key flexfield, note the following:

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• Location Key Flexfield

• Cross-Validate Segments and Allow Dynamic Inserts are enabled

• The State segment is designated as the State segment qualifier

• Asset Key Key Flexfield

• In the Segments form, note that the Required check box is not selected. It means that entry of the Asset Key key flexfield is not required when adding an asset.

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Guided Demonstration - Create a Location Flexfield Combination


(N) Setup > Asset System > Locations.

1. Perform Find All in the Locations form to show the current combinations that exist in the database.

2. Click the New icon to add a new record.

3. Add the following combination: Country USA

State VA

City Reston

Building Sales

4. Save your work.

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Practice - Create a Location Key Flexfield Combination

Overview

In this practice, you crate a new flexfield combination for the Oracle Assets Location key flexfield.

Assumptions

• If you are not attending training at an Oracle University center or Authorized Partner Education Center, you must have access to an Oracle Application Vision database or a comparable training test instance on which to complete this practice.


• Replace XX in the practice with a unique identifier such as your initials or a number. (For Instructor-Led Training classes, this number is assigned to you). This is necessary in order to create unique records within the database when performing the practice.

Tasks

Add a New Location Flexfield Combination

Add a new Location key flexfield combination using the following segment values: Segment Name Value

Country USA

State CA

City LOS ANGELES

Building XX_CLASS

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Solution: Create a Location Key Flexfield Combination

Add a New Location Flexfield Combination

1. Navigate to the Locations form.

(N) Setup > Asset System > Locations.

2. Invoke the List of Values for the Location field (Ctrl + L).

3. Enter or choose from the List of Values the segment values as listed in the following table: Segment Name Value

Country USA

State CA

City LOS ANGELES

Building XX_CLASS

4. Save your work (use the Save icon or the Ctrl + S keyboard combination).

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Guided Demonstration - System Controls Form


(N) Setup > Asset System > System Controls.

1. In the System Controls form, note the following:

• All fields except the Enterprise Name field are not updatable. If this is a new installation, all fields will allow entry but only the Enterprise Name and Oldest Date Placed in Service allow update after the record is saved. The Oldest Date Placed in Service can be updated only until any calendar is assigned to any asset book.

• The last number used is updated each time a new asset number is assigned by the system.

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Guided Demonstration - QuickCodes



1. Perform Find All once in the QuickCodes form.

2. With the cursor still in the Type field, press the down arrow on the keyboard noting the existing QuickCode Types and values already in the database.

3. When you get to the Type – Queue Name, click in the first line and choose to enter a new record.

4. Add the following new record for the Queue Name Type:

Value CONTROLLER HOLD

Description Hold for Controller Approval

5. Save your work.

6. Place your cursor back in the Type field and continue to scroll down through the remaining QuickCode Types and their existing values.

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Practice - Add QuickCode Values

Overview

In this practice, you add two new values for the ASSET DESCRIPTION QuickCode Type.

Assumptions




Tasks

Add New Asset Description QuickCodes

Add the following new asset description values to the Oracle Assets QuickCode Type ASSET DESCRIPTION:

Value Description

XX_PERSONAL COMPUTER XX_Personal Computer

XX_SERVER XX_Server

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Solution: Add QuickCode Values

Add New Asset Description QuickCodes

1. Open the QuickCodes form.


2. Place the QuickCodes form in query mode by using the F11 key.

3. Enter ASSET D% in the Type field.

4. Execute the query by using the Ctrl + F11 key combination.

5. Click in the Value field, and then click the New icon on the toolbar to insert a new record.

6. Enter the following two new asset descriptions: Value Description

XX_PERSONAL COMPUTER XX_Personal Computer

XX_SERVER XX_Server

7. Save your work (Ctrl + S).

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Guided Demonstration - Fiscal Years & Calendars


(N) Setup > Asset System > Fiscal Years.

1. Perform Find All in the Asset Fiscal Years form.

2. Review the existing fiscal years data in the database.

3. Use the down arrow until you open a new record.

4. Enter the following data in the Asset Fiscal Years form:

Fiscal Year Name Demo

Description Class Demo FY

From Date 01-JAN-YYYY (use your preferred year)

To Date 31-DEC-YYYY

Fiscal Year YYYY

5. After you enter a value in the Fiscal Year field, press the Tab key to demonstrate that the system automatically calculates the next fiscal year’s values for you.

6. Save your work.

7. Return to the Navigator and to the Asset Calendars form.

(N) Setup > Asset System > Calendars.

8. Perform Find All in the Asset Calendars form.

9. Review the existing fiscal years data in the database.

10. Use the down arrow until you open a new record.

11. Enter the following information in the Asset Calendars form:

Calendar Demo

Description Demo Calendar for Class

Period Suffix Fiscal

Fiscal Year Name Demo (LOV)

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Periods Per Year 12

Period Name Jan

Period From Date 01-JAN-YYYY (use your preferred year)

Period To Date 31-JAN-YYYY

12. After you enter the Period To Date, tab to the next line and note that the system automatically fills out the Period From and Period To dates.

13. Enter Feb for the second Period name and continue until Period Dec-YY is completed.

14. Save your work.

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Practice - Create an Oracle Assets Calendar

Overview

You create a new Oracle Assets Calendar in this practice.

Assumptions




• Replace the year references of YYYY and YY with the calendar year of your choice or as directed by the Instructor (for example, 2002 or Jan-02). Keep in mind that some transactions require calendar dates and calendar periods to be defined and enabled in order to be processed.

Tasks

Create a New Calendar

Create a new Oracle Assets Calendar named XX_Calendar (where XX is your unique identifier). Assign the calendar to the existing Fiscal Year named ACCOUNTING. The calendar uses the Calendar period suffix, has 12 periods per year, and should be set up for the Period dates 01-JAN-YYYY through 31-DEC-YYYY. The Period names should use the format Mmm-YY (for example, Jan-YY). O

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Solution: Create an Oracle Assets Calendar

Create a New Calendar

1. Navigate to the Asset Calendars form.

(N) Setup > Asset System > Calendars.

2. Enter values for each field as follows:

Field Name Value

Calendar XX_Calendar

Description XX_Calendar

Period Suffix Calendar (option button)

Fiscal Year ACCOUNTING (choose from List of Values)

Period Per Year 12

Period Name Jan

Period From Date 01-JAN-YYYY (prior year)

Period To Date 31-JAN-YYYY (prior year)

3. After entering the first row in the Period table, tab to the second line and enter Feb for the Period Name. The Oracle Assets system completes the dates and provides the suffix for the Period Name. Continue for all periods through Period 12.

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4. Save your work (Ctrl + S).

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Guided Demonstration - Oracle Assets Profile Options


(N) Other > Profile.

or

(M) Edit > Preferences > Profiles.

1. In the Personal Profiles Values form, go into query mode.

2. In the Profile Name field, enter FA%, and then execute the query.

3. Review the returned Profile options noting which are updatable by the User and which the Systems Administrator must maintain.

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Guided Demonstration - Entering Asset Insurance Information


(N) Assets > Insurance > Insurance Policy Details

To enter insurance information for an asset, perform the following:

1. Open the Fixed Asset Insurance window.

2. Query the asset number 100080 in the OPS CORP book.

3. In the Policy region, enter any policy number in the Policy Number field, Mutual Insurance Company in the Insurance Company field, and DES MOINES - HQ in the Supplier Site field.

4. Enter the Calculation Method to use for this asset insurance, either Value as New, Market Value, or Manual Value.

5. If the asset is a Swiss special–case asset, select the Special Swiss Asset check box.

6. In the Base Index Date field, enter the date that is used as the base date for indexation.

7. Enter FULL COST in the Insurance Index field.

8. In the Base Insurance Value field, enter the base insurance value of the asset as defined in the insurance policy.

9. If you chose the Manual Value calculation method or if your asset is flagged as a Swiss special–case asset, enter the current insurance value. Otherwise, this field displays the current insurance value of the asset, calculated automatically.

10. In the Insured Amount field, enter the amount for which the asset is insured under that policy.

To enter insurance policy information, perform the following:

11. In the Fixed Asset Insurance window, click the Lines button to display the insurance policy line information.

12. In the Fixed Asset Insurance Policy Lines window, enter insurance policy information, such as the insurance policy line number, the insurance category, and the hazard class.

13. Enter any additional comments in the Comments field.

14. Save your work.

To enter insurance policy maintenance information, perform the following:

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15. In the Fixed Asset Insurance window, click the Maintenance button.

16. In the Fixed Asset Insurance Policy Maintenance window, update any information that needs to be changed.

17. Save your changes.

18. Run the Insurance Calculation routine to show how it calculates the current insurance value based on the index that you have used.

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Guided Demonstration - Define an Asset Warranty


(N) Setup > Asset System > Warranties

1. Open the Asset Warranties window.

2. Enter a unique warranty number and a description of the warranty.

3. Optionally, enter the start and end dates. If you enter one date, you must also enter the other date. If you specify start and end dates, any asset that you assign to this warranty must have a date placed in service that falls between the specified start and end dates.

4. Enter the currency code. The currency code of the warranty must be the same as that of the asset that you are assigning to the warranty.

5. Enter a cost of $0 or greater.

6. Select the Renewable check box if you want the warranty to be renewable. The Renewable check box is deselected by default. If you do not specify an end date, the Renewable check box is disabled.

7. Optionally enter employee information.

8. Enter supplier information.

9. Save your work.

To assign an asset to a previously defined warranty, perform the following:

1. Navigate to the Find Assets window.

2. Query the asset that you are assigning to the warranty.

3. In the Asset Details window, enter a previously defined warranty number or select a warranty number from the list of values.

4. Save your work. O

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Guided Demonstration - Define a Lease


(N) Setup > Asset System > Leases > Lease Details

1. Open the Lease Details window.

2. Enter the Lease Number and a Description.

3. Enter the Lessor.

4. Enter the Lessor Site, which is the location to which payments will be sent. This field is required if you plan to export lease payments to Oracle Payables.

5. Select a Lease Type of Capitalized or Operating. If you have already performed a capitalization test on this lease, you can use this field to manually override the test result displayed in the Test Determination field. Only capitalized leases can be set up for automatic lease payment to Oracle Payables.

6. You can choose from a list of predefined Payment Schedules to attach to this lease, or leave this field blank and click the Payment Schedule button to define a schedule for this lease. If, after the lease start date, you want to change the existing lease payments, you must enter a new lease or manually adjust the individual payment lines to change the existing lease.

7. Enter the payment account. This field is required if you plan to export lease payments to Oracle Payables. You must enter a lessor site before you can enter a payment account. This is because the lessor site determines the operating unit, which in turn determines the account structure.

8. Optionally, enter a payment term.

9. Enter the Currency that you are using for this lease.

10. If you want to test this lease for capitalization, enter the following information in the Capitalization Test region:

• Select Transfer of Ownership if the lease transfers ownership of the asset to the lessee at the end of the lease.

• Select the Bargain Purchase Option if a bargain purchase option is included in this lease.

• Enter the Lease Term and the Asset Life in months for the leased asset. The Criterion Met check box indicates whether the term of the lease exceeds 75% of the economic life of the leased asset.

• Enter the Fair Value of the leased asset.

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• Optionally enter the Present Value of the leased asset if you have previously calculated it outside of Oracle Assets. Otherwise, Oracle Assets automatically populates this field when you select a lease payment schedule for the lease. The Criterion Met check box indicates whether the present value of the minimum lease payments exceeds 90% of the fair market value.

• If you need to define a payment schedule for this lease, click the Payment Schedule button.

11. Oracle Assets displays the result of the capitalization test in the Test Determination field. If the lease qualifies for capitalization, Oracle Assets automatically populates the Cost to Capitalize field with the lesser of the fair value of the asset or the present value of the minimum lease payments. This amount also appears as the Current Cost for the asset in the Books window when you perform an asset addition.

12. (B) Done.

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Guided Demonstration - Define an Asset Book


(N) Setup > Asset System > Book Controls

1. Enter Book Name of DEMO CORP BOOK.

2. Leave the Class as Corporate.

3. Description should also be DEMO CORP BOOK.

4. For the Ledger, choose Vision Operations from the LOV.

5. For both the Depreciation and Prorate Calendar, choose Monthly from the LOV.

6. Current Period should be DEC-YY (use the prior year).

7. Leave the Divide Depreciation field as is and let the Last Run Date for depreciation be the default of today’s date.

8. Tab through the remaining fields in the Calendar region or click the Accounting Rules tab.

9. Click the Allow Amortized Changes and Allow Mass Changes check box. Note that the default for these check boxes is unchecked.

10. Accept the remaining defaults for the rest of this region. You may want to click any check box in the Tax Rules or Allow Mass Copy regions to show that because this is a corporate book, those regions’ check boxes are not allowed to be updated.

11. Tab through the remaining fields of the Accounting Rules region or click the Natural Accounts tab.

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12. Enter the following Natural Account values: Gain Loss Clearing



Net Book Value Retired

7854 7855

Reval Reserve Retired 7854 7855




Account Generator Defaults 01-000-9999-0000-000

13. Save your work.

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Practice - Set Up Group Assets

Overview

In this practice, you perform the following:

• Create a group asset

• Assign a member asset to the group asset

Assumptions

• Use Vision database.

• Login information is provided by your instructor.

• Replace XX with the number provided by your instructor.

• Use the Assets, Vision Operations (USA) responsibility.

• XXCORP book must be enabled for group depreciation by the instructor before the start of the practice (the instructor needs to select the Allow Amortized Changes and Allow Group Depreciation check boxes in the Accounting Rules tabbed region of the Book Controls window.

Tasks


Create a group asset using Detail Additions with the following values: Description GROUP_ASSET_XX


Minor Category PC

Asset Type Group

Book XXCORP

In the Assignments window, enter: Unit Change Expense Account Location


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Create a new asset using QuickAdditions with the following values and assign the asset to the group asset that you created previously:

Field Value



Minor Category PC

Book XXCORP

Method STL

Cost $5000





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Solution: Set Up Group Assets

Responsibility = Assets, Vision Operations


1. (N) Assets > Asset Workbench.

2. (B) Additions.

3. In the Description field, enter GROUP_ASSET_XX.

4. In the Category field, enter a major category of Computer and a minor category of PC.

5. In the Asset Type file, select Group.

6. (B) Continue.

7. In the Book field, enter XXCORP.

8. (B) Continue.

9. In the Assignments window, enter: Unit Change Expense Account Location



11. Write down your group asset number __________.


12. In the Assets window, (B) QuickAdditions.

13. In the QuickAdditions window, enter: Field Value



Minor Category PC

Book XXCORP

Method STL

Cost $5000



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15. Write down the asset number _________.


17. Query the member asset that you just created:


18. In the Find Assets window, enter the asset number of the member asset that you just created in the Asset Number field and XXCORP in the Book field.

19. (B) Find.

20. (B) Books.

21. Enter XXCORP in the Book field.

22. (T) Group Asset.

23. Enter the group asset number of the asset that you created in step 11 in the Group Asset field.


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Guided Demonstration - Security by Book Setup (Optional)

This demonstration reviews the already existing Security by Book setup in the Vision demonstration database. The Assets Hierarchy that will be demonstrated is diagrammed as follows:


(N) Setup > Security > Organization > Description

1. In the Find Organization window that appears, choose Vision Operations from the LOV in the Name field and click the Find button.

2. In the Organization window for Vision Operations, click the Organization Classifications Name Asset Organization and then click the Others button.

3. What appears is the Book Controls form and all asset books that have been assigned to the Asset Organization for the Vision Operations Organization are shown. You can scroll down through the list of asset books by using the down arrow on the keyboard.

4. If you want to add another asset book to this Asset Organization, you can define a new asset book here or query an existing asset book. To save this book to the organization, the form trigger must recognize that a change has occurred to the book information. To create a simple change that will enable the Save function to work, enter the Book Controls Description field and simply add a space at the end. Then, navigate to the File menu and select File: Save. Although there is no visible alteration to the book information, the form will now be able to save the book to the organization.

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5. Close the Book Controls form.

6. Back in the Organizations form, place the cursor in the Name field, and then click the Find icon. In the Find Organization window, choose the Vision Corporation organization and click the Find button.

7. In the Organization window for Vision Corporation, click on the Organization Classifications Name Asset Organization, and then click the Others button.

8. This time, no asset books appear in the Book Controls form. That is because, in this hierarchy, the Vision Corporation is set up to view all asset books of the organizations subordinate to it. Therefore, we do not have to add any books to the Vision Corporation organization if they are part of an organization that will be subordinate to it. You see this when you look at the Asset Hierarchies form later.

9. Close the Book Controls and Organizations forms and return to the Navigator.

(N) Security > Organization > Hierarchy

10. In the Organization Hierarchy form, go into query mode and query on Asset%. The name Assets Hierarchy should be returned.

11. Click in the Organization region of the form in the Name field and again go into query mode. Query on Vision Op%. Vision Operations will be returned. Note that Vision Operations is part of this Asset Hierarchy and has another organization subordinate to it; Vision Project Mfg. What this means is that in this hierarchy, a user that can access the Vision Operations organization would be able to see all asset books associated with that organization plus the asset books associated with the Vision Proj Mfg organization. This is how the hierarchy is built.

12. Make sure that the cursor is in the Organization Name field and go into query mode again. Query on Vision Corp%. Vision Corporation will be returned. Note the organizations that are subordinate to this organization. They include Vision Operations, which shows one subordinate organization to it, which is the Vision Proj Mfg organization that you saw earlier. Thus a user with access to the Vision Corporation organization would be able to see all asset books associated with its subordinate organizations and any organization’s asset books subordinate to these subordinate organizations.

13. Close the Organization Hierarchy window and return to the Navigator.

(N) Setup > Security > Security

14. In the Security Profile form, go into query mode and query FA:Vision Op%. The security Profile FA:Vision Operations is returned. Note the Organization Hierarchy of Assets Hierarchy and the Top Organization of Vision Operations. The Security Profile FA:Vision Operations is what would be assigned to a Responsibility to limit any user with that Responsibility to being able to access only the asset books associated with the Vision Operations organization as you saw in the Asset Hierarchy form.

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15. Place your cursor in the Name field and query the Security Profile named FA:Vision Corporate. Here you note that this Security Profile has the Top Organization Vision Corporation within the Assets Hierarchy assigned to it.

16. Close the Security Profile form and return to the Navigator.

17. At this point in your Security by Book setup, you would run the Security List Maintenance Program for each Security Profile defined from the Submit Request form. The Oracle System Administrator would then create a new Responsibility and assign the newly defined Security profiles to it or you could assign the Security profiles to the existing Responsibilities. In either case, the Profile Option FA: Security Profile is used to assign the Security Profile names.

(N) Other > Profile

18. In the Personal Profile Values form, query the profile option FA: Security Profile.

19. Note that the Responsibility that you use is assigned the FA: Vision Operations Security Profile. Close the Personal Profile Values form.

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Practice - Review Security by Book Setup

Overview

In this practice, you review the setup for the Security by Book feature.

Assumptions

If you are not attending training at an Oracle University center or Authorized Partner Education Center, you must have access to an Oracle Application Vision database to complete this practice.

Tasks

Verify Security by Book has been set up correctly for Vision Corporate

As the System Administrator for Oracle Corporation, it is your responsibility to guarantee that only certain individuals have access to information about the assets in your organization. Your organization consists of a corporate headquarters, Vision Corporate, and two divisions, Vision Operations and Vision Services. Each division has a general ledger set of books and related asset books. You want to allow the fixed assets manager of each division to have access only to the asset books belonging to his or her division and not to information about any other divisions. The fixed assets manager for Vision Corporate has access to all the books of all the organizations.

Security Profile Responsibility User ID Password

FA: Vision Corporation Fixed Assets Manager CORPORATE WELCOME

FA: Vision Operations Assets, Vision Operations OPERATIONS WELCOME

FA: Vision Services Assets, Vision Services SERVICES WELCOME

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Verify that security is set up correctly for the Vision Corporate Asset Manager by accessing the following assets:

Asset Number Found in Asset Books

100081 OPS CORP, OPS FEDERAL

100132 SVSC CORP

100530 SVCS FEDERAL

Verify That Security by Book Is Set Up Correctly for Vision Operations

Verify that security is set up correctly for the Vision Operations organization by accessing the same assets listed in the previous Task.

Verify That Security by Book Is Set Up Correctly for Vision Services

Verify that security is set up correctly for the Vision Services organization by accessing the same assets listed in the first Task.

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Solution: Review Security by Book Setup

Verify That Security by Book Is Set Up Correctly for Vision Corporate

1. Log on to Oracle Applications using CORPORATE as the username and WELCOME as the password. If already logged on to the system, choose File > Log on as a Different User from the menu bar.

2. Choose the Fixed Asset Manager responsibility.

3. Open the Financial Information window.

(N) Inquiry > Financial Information.

4. Search for asset number 100081 by entering the number in the Asset Number field, in the Book Field use OPS CORP, and clicking the Find button.

5. In the Assets Form, click (B) Books.

6. Note that the Asset Books OPS CORP and OPS FEDERAL are shown. Close the View Financial Information form.

7. (I) Flashlight. Enter the next asset number 100132, use SVSC CORP in the BOOK Field, and then click the Find button.

8. (B) Books.

9. Note that the Asset Book SVSC CORP is shown. Close the View Financial Information form.

10. (I) Flashlight. Enter the next asset number 100530, use SVSC FEDERAL in the BOOK Field, and then click the Find button.

11. (B) Books.

12. Note that the Asset Book SVSC FEDERAL is shown. Close the View Financial Information form.

Verify Security by Book Is Set Up Correctly for Vision Operations

13. Log on to Oracle Applications using OPERATIONS and WELCOME as the username and password, respectively. If already logged on to the system, choose File > Log on as a Different User from the menu bar.

14. Choose the Assets, Vision Operations (USA) responsibility.

15. Open the Financial Information window.

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16. Enter the asset number 100081, use OPS CORP in the Book Field, and then click the Find button.

17. (B) Books.

18. Note that the Asset Books OPS CORP and OPS FEDERAL are shown. Close the View Financial Information form.

19. Click the Flashlight icon on the toolbar and enter the next asset number 100132, use SVSC CORP in the Book Field, and then click the Find button.

20. You should receive the message FRM-40350: Query caused no records to be retrieved, at the bottom of the window.

21. Enter the next asset number 100530, use SVSC FEDERAL in the Book Field, and then click the Find button.

22. You should receive the message FRM-40350: Query caused no records to be retrieved, at the bottom of the window.

23. Close the Find Asset Form.

Verify Security by Book Is Set Up Correctly for Vision Services

24. Log on to Oracle Applications using SERVICES and WELCOME as the username and password, respectively. If already logged on to the system, choose File > Log on as Different User from the menu bar.

25. Choose the Assets, Vision Services (USA) responsibility.

26. Navigate to the Financial Information window.

27. (N) Inquiry > Financial Information.

28. Search for asset number 100081 by entering the number in the Asset Number field. In the Book Field, use OPS CORP. Click the Find button.

29. Enter the next asset number 100132. In the Book Field, use SVSC CORP. Click the Find button.

30. (B) Books.

31. Note that the Asset Book SVSC CORP is shown. Close the View Financial Information Form.

32. Click the Flashlight icon on the toolbar. Enter the next asset number 100530. In the Book Field, use SVCS FEDERAL, and then click the Find button.

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33. In the Assets Form, click the Books button.

34. Note that the Asset Book SVSC FEDERAL is shown. Close the View Financial Information Form.

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Guided Demonstration - Define Asset Category Flexfield Values


(N) Setup > Financials > Flexfields > Key > Values

1. Enter the following values in the Find Key Flexfield Segment form: Application Assets



Segment Major Category

2. (B) Find.

3. Click on any line in the Values region of the Segment Values form.

4. (I) New.

5. Enter Airplane as the Value and also the Description.

6. (I) Save.

7. Click back in the Title field, and then click the Find icon on the toolbar.

8. In the Find Key Flexfield Segment form, change the Segment field to Minor Category.

9. In the Independent Value field, select Airplane from the LOV.

10. (B) Find.

11. Click on the first blank line in the Values region of the Segment Values form to open a new record.

12. Enter Jet for the Value and Description.

13. Use the down arrow on the keyboard to go to the next line.

14. Enter Turboprop for the Value and Description.

15. (I) Save.

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Practice - Add Asset Category Key Flexfield Values

Overview

In this practice, you add new values for each of the Asset Category Key Flexfield segments.

Assumptions

• If you are not attending training at an Oracle University center or an Authorized Partner Education Center, you must have access to an Oracle Application Vision database or a comparable training test instance on which to complete this practice.



Tasks

Add Category Key Flexfield Values

Add the following values to the Major Category and Minor Category segments of the Asset Category Key Flexfield. Remember that the Minor Category segment is Dependent on the value in the Major Category segment:

Segment Value Description

Major Category XX_COMPUTER XX_Team Computer

Minor Category XX_PC XX_Personal Computer

Minor Category XX_SERVER XX_Server

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Solution: Add Asset Category Key Flexfield Values

Add Category Key Flexfield Values

1. Navigate to the Segment Values form.


2. Enter the following in the Find Key Flexfield Segment form: Application Assets <List of Values>

Title Category Flexfield <List of Values>

Structure Vision Category Flexfield <List of Values>

Segment Major Category <List of Values>

3. (B) Find.

4. Place your cursor in the Value field.

5. (I) New.

6. Enter the following information: Value Description

XX_COMPUTER XX_Team Computer

7. (I) Save.

8. Place your cursor in the Independent Segment field.

9. (I) Find.

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10. In the Find Key Flexfield Segment window, change the Segment Value to “Minor Category” and in the Independent Value field, select XX_COMPUTER from the List of Values.

11. (B) Find.

12. Click in an empty Value field and enter the following new records: Value Description

XX_PC XX_Personal Computer

XX_SERVER XX_Server

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13. (I) Save.

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Guided Demonstration - Define an Asset Category


(N) Setup > Asset System > Asset Categories

1. In the Asset Categories form, choose AIRPLANE from the LOV for the Major Category and JET for the Minor Category.

2. Accept the default for the check boxes and enter the following in the remaining header region fields: Description Airplane

Category Type Non-lease

Ownership Owned

Property Type Personal

Property Class 1245

3. In the Book field, choose OPS CORP from the LOV.

4. Enter the following general ledger accounts:

Note: The Bonus Expense and Bonus Reserve fields default automatically. Asset Cost 01-000-1530-0000-000

Asset Clearing 01-000-1570-0000-000

Depreciation Expense Segment 01-000-7330-0000-000


Bonus Expense 01-000-7330-0000-000

Bonus Reserve 01-000-1630-0000-000



6. Enter the following Default Depreciation Rules: Method STL

Life Years 30

Life Months 0

Prorate Convention MID-MONTH

Retirement Convention MID-MONTH

7. (I) Save. Close the window.

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8. The cursor should be in the Book field of the Asset Categories window.

9. (I) New.

10. Select OPS FEDERAL from the LOV.

11. Enter the same general ledger accounts as before:

Note: The Bonus Expense and Bonus Reserve fields default automatically. Asset Cost 01-000-1530-0000-000

Asset Clearing 01-000-1570-0000-000



Bonus Expense 01-000-7330-0000-000

Bonus Reserve 01-000-1630-0000-000




Life Years 20

Life Months 0

Prorate Convention MONTH

Retirement Convention MONTH

(You could select a method that is used by your region for tax purposes.)

14. (I) Save.

15. Close the form and return to the Navigator.

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Practice - Define Asset Categories

Overview

In this practice, you define a new Asset Category combination and associate it with two asset books.

Assumptions




Tasks

Create an Asset Category Combination and Attach to Asset Books

Define a new Asset Category combination with the Major category named XX_COMPUTER and the Minor Category named XX_SERVER. Assets in this Category are Non-leased, owned, personal property with a property class of 1245. You want to allow this Asset Category to be used in both the OPS CORP and OPS FEDERAL asset books. Use the following General Ledger Accounts and default depreciation rules:

Field Name OPS CORP Book OPS FEDERAL Book

Asset Cost Account 01-000-1560-0000-000 01-000-1560-0000-000

Asset Clearing Account 01-000-1570-0000-000 01-000-1570-0000-000

Depreciation Expense 01-000-7360-0000-000 01-000-7360-0000-000

Accumulated Depreciation Account 01-000-1660-0000-000 01-000-1660-0000-000

Bonus Expense 01-000-7360-0000-000 01-000-7360-0000-000

Bonus Reserve 01-000-1660-0000-000 01-000-1660-0000-000

Revaluation Reserve 01-000-1550-0000-000 01-000-1550-0000-000

Depreciation Method STL STL

Life 7 Years 0 Months 5 Years 0 Months

Prorate Convention FOL-MONTH MONTH

Retirement Convention FOL-MONTH MONTH

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Solution: Define Asset Categories

Create an Asset Category Combination and Attach to Asset Books

1. Navigate to the Asset Categories form.


2. In the Category field, choose XX_COMPUTER as the Major Category segment and XX_SERVER as the Minor Category segment.

3. Accept the default values in the check boxes and enter the following information: Description XX-Category

Category Type Non-lease

Ownership Owned

Property Type Personal

Property Class 1245

4. In the Book field, select OPS CORP from the LOV.

5. Enter the General Ledger Accounts as shown: Field Name OPS CORP Book OPS FEDERAL Book

Asset Cost Account 01-000-1560-0000-000 01-000-1560-0000-000

Asset Clearing Account 01-000-1570-0000-000 01-000-1570-0000-000

Depreciation Expense Segment 01-000-7360-0000-000 01-000-7360-0000-000

Accumulated Depreciation Account 01-000-1660-0000-000 01-000-1660-0000-000

Bonus Expense 01-000-7360-0000-000 01-000-7360-0000-000

Bonus Reserve 01-000-1660-0000-000 01-000-1660-0000-000

Revaluation Reserve 01-000-1550-0000-000 01-000-1550-0000-000

Depreciation Method STL STL

Life 7 Years 0 Months 5 Years 0 Months

Prorate Convention FOL-MONTH MONTH

Retirement Convention FOL-MONTH MONTH

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7. Enter the Default Depreciation Rules as shown in the Task.

8. Save your work and close the Default Depreciation Rules form.

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9. The cursor should be in the Book field of the Asset Categories window.

10. (I) New.

11. Select OPS FEDERAL from the LOV.

12. Enter the General Ledger Accounts as shown in the Task.

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14. Enter the Default Depreciation Rules as shown in the Task.

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15. (I) Save.

16. Close the Default Depreciation Rules form.

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Guided Demonstration - Add Assets Using QuickAdditions (Optional)


(N) Assets > Asset Workbench > (B) QuickAdditions

1. Leave the Asset Number field blank.

2. Enter the following data: Field Name Value

Description Hot Rod Car

Tag Number XXX001 (replace XXX with your preferred value)

Category VEHICLE-OWNED LUXURY (use LOV)

Category DFF License Plate=SPEEDY, Insurance Co.=STATE FARM (LOV)

3. Click (B) OK.

4. Accept defaults for Asset Type and Units. Tab to the Books field.

5. From the LOV, choose OPS CORP as the book.

6. Cost is 75,000.

7. Accept the Date Placed in Service default.

8. For the Employee Name field, choose Vandelay, Mr. Art from the LOV.

9. Enter or choose from the LOV the Expense Account 01-110-7350-0000-000.

10. Enter or choose from the LOV the Location USA-CA-SAN FRANCISCO-NONE.

11. Save your work by clicking the Done button.

12. Note your Asset Number and Reference Numbers.

13. Return to the Navigator form.

(N) Inquiry > Transaction History

14. In the Find Transactions form, enter OPS CORP in the Book field and the Asset Number for the just entered asset.

15. Click (B) Find.

16. Note both the transaction types and click the Detail button for each one to review the data.

17. Close the Transaction History form.

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Practice - Add an Asset Using QuickAdditions

Overview

In this practice, you add a new asset using the manual QuickAdditions feature.

Assumptions




• Replace the year references of YYYY and YY with the calendar year of your choice or as directed by the Instructor (for example, 2002 or Jan-02). Keep in mind though that some transactions require calendar dates and calendar periods to be defined and enabled in order to be processed.

Tasks

Enter an Asset Using QuickAdditions

Your organization has just purchased a Ford Explorer. Use the QuickAdditions feature of Oracle Assets to record the purchase of this asset. The asset will be added to the OPS CORP book, categorized as a standard vehicle, and has a cost of 20,000. It should be assigned to Brian Adams and depreciation expense should be charged to Dept 110. The Explorer is located in Building 1 in the San Francisco office and should be tagged XXCAR. Its plate number is ORACLE1, which is renewed on December 31 of each year.

Perform an Asset Inquiry

Review the Ford Explorer addition transactions by performing a Transaction History inquiry. O

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Solution: Add an Asset Using QuickAdditions

Enter an Asset Using QuickAdditions

1. Open the QuickAdditions form:

(N) Assets > Asset Workbench (B) QuickAdditions.

2. Leave the asset number field blank to allow automatic numbering.

3. Enter the following information in the applicable fields: Field Name Value

Description Ford Explorer

Tag Number XXCAR (where XX is your unique identifier)


License Plate ORACLE1

License Renewal Date 31-DEC-YYYY

Asset Type Capitalized

Book OPS CORP

Cost 20,000

Date Placed in Service (Accept the Default Date)


Expense Account 01-110-7350-0000-000


4. Leave the Supplier information, Asset Key, and Serial Number fields blank.

5. Save by clicking the Done button.

6. Note your asset number assigned __________________

7. Click (B) OK and close the Assets window to return to the Navigator form. O

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Perform an Asset Inquiry

8. Open the Transaction History form:

(N) Inquiry > Transaction History.

9. In the Find Transactions form, enter the Book OPS CORP and the asset number for the Ford Explorer.

10. (B) Find.

11. Review the transactions by selecting each Transaction Type and clicking the Details button.

12. When you finish reviewing, close the Transaction History form and return to the Navigator.

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Guided Demonstration - Add an Asset Using Detail Additions (Optional)


(N) Assets > Asset Workbench > (B) Additions

1. Leave the Asset Number field blank.

2. Enter the following information in the Asset Details form: Field Name Value

Description Superfast Computer

Tag Number XXXCOMP (your choice for XXX)



3. Accept the default values for the other fields and click the Continue button.

4. Enter the following information in the Books form: Field Name Value

Book OPS CORP

Current Cost 15,000

Method STL 5 Years 0 Months


6. Enter the following information in the Assignments form: Field Name Value

Unit Change 1

Employee Name Benson, Mr. George

Expense Account 01-130-7360-0000-000

Location UK-NONE-LONDON-A2


8. Note your asset number assigned __________________.

9. (B) OK. Go back to the Navigator.

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Practice - Add an Asset Using Detail Additions

Overview

In this practice, you add an asset using the Detail Additions feature.

Assumptions




• Replace the year references of YYYY and YY with the calendar year of your choice or as directed by the Instructor (for example, 2002 or Jan-02). Keep in mind though that some transactions require calendar dates and calendar periods to be defined and enabled in order to be processed.

Tasks

Add an Asset Using Detail Additions

Your organization has just purchased an office building to increase overhead and reduce profitability. Use the Detail Additions feature of Oracle Assets to record the purchase of this asset. Add the asset to the OPS CORP Book and categorize it as an office building that has a cost of $10,000,000. It should be assigned to Ellen Palm and depreciation expense should be charged to Dept 110. The building’s location is in New York City and is designated as Building 2. Because the management is afraid of misplacing it, it should be tagged XXBLDG. It is insured by Fidelity and is 500,000 square feet in size. The building is considered Real Property classified as 1250 property. This building is depreciated using the STL method for 15 years.

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Practice - Add an Asset Using Detail Additions

Add an Asset Using Detail Additions

1. Open the Detail Additions form.

(N) Assets > Asset Workbench (B) Additions.

2. Leave the asset number field blank to allow automatic numbering.

3. Enter the following information in the Asset Details form’s applicable fields: Field Name Value

Description Overhead Office Building

Tag Number XXBLDG (where XX is your unique identifier)


Insurer FIDELITY

Building Size 500000


Property Type Real

Property Class 1250

4. (B) Continue.

5. Enter the following information in the Books form:

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Field Name Value

Book OPS CORP

Current Cost 10,000,000

Method STL 15 years 0 Months


7. Enter the following information in the Assignments form: Field Name Value

Unit Change 1

Employee Name Palm, Mrs. Ellen

Expense Account 01-110-7320-0000-000


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9. Note your asset number assigned __________________

10. Click (B) OK and close the Assets window to return to the Navigator form.

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Guided Demonstration - Create Mass Addition Lines


(N) Invoices > Entry > Invoices

Note: Ensure that the AP: Use Invoice Batch Controls profile option is set to No. Also, make sure that the corresponding GL Period is in a status of “Open.”

Note the current open period in the OPS CORP asset book and make sure that the corresponding AP & GL periods are open as well before performing this demo.

1. Use the default Standard invoice type and enter the following invoice header information: Field Name Values

Trading Partner Star Gate Ltd

Site STAR GATE – PAY

Invoice Date Use the first day of the open period in the OPS CORP asset book (01-MMM-YYYY).

Invoice Number XXINV where XX represents any value you choose

Invoice Curr USD

Invoice Amount $132,185.84

2. (I) Save.

3. (T) Lines.

4. Enter the following lines: Num Type Amount Account Description

1 Item 6,000 01-000-1570-0000-000 Sales Tax

2 Item 100,000 01-000-1570-0000-000 DX7 Thingamabob

3 Item 2,000 01-000-1570-0000-000 Delivery Charge

4 Item 12,600 01-000-1570-0000-000 3 Mighty Good Computers

5 Item 5,000 01-000-1570-0000-000 RFK CD Sound System

6 Item 6585.84 01-000-1570-0000-000 Additional tax

5. Save your work.

6. Save your work and close the Lines form.

7. Validate the invoice by clicking the (B) Actions, and then selecting the Validate check box.

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8. Account for the invoice by clicking the (B) Actions, and then selecting the Create Accounting check box. Select Final. (B) OK.

Create a Second Invoice to Be Used in the CIP Guided Demo

9. Create a new invoice (I) New Record.

• Use the default Standard invoice type and enter the following invoice header information or press Shift + F6 to copy the header information and make the appropriate changes.

Field Name Values




Invoice Number XXSEP1234 where XX represents any value you choose

Invoice Curr USD

Invoice Amount $112,830

10. (I) Save.

11. (T) Lines.

12. Enter the following lines: Num Type Amount Account Description

1 Item 4171.69 01-000-1570-0000-000 Destination Charges

2 Item 2828.31 01-000-1570-0000-000 Dealer Prep

3 Item 51,000 01-000-1570-0000-000 Truck

4 Item 12,0000 01-000-1570-0000-000 Design Fees

5 Item 24,000 01-000-1570-0000-000 4 Laptops

6 Item 2000 01-000-1570-0000-000 Upgraded Stereo

7 Item 16,830 01-000-1570-0000-000 Additional tax

13. Validate the invoice by clicking the (B) Actions, and then selecting the Validate checkbox.

14. Account for the invoice by clicking the (B) Actions, and then selecting the Create Accounting check box. Select Final. (B) OK.

15. Close the Invoices form and return to the Navigator.

(N) Other > Requests > Run

16. Proceed to the Submit Request form and choose to run the Payable Transfer Journal Entries to the GL process with the following parameters:

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Parameter Value


Process Category (default)

End Date Use the invoice date of the invoice created (01-MMM-YYYY).

Post in General Ledger (default)

General Ledger Batch Name (default)

17. (B) Submit.

18. View your concurrent request to ensure that it completes normally.

19. From the Requests form, choose to Submit a New request.

20. Choose to run the Mass Additions Create process with the following parameters: Parameter Value

GL Date Use the invoice date of the invoice created (01-MMM-YYYY).

Book OPS CORP



23. Select the Mass Additions Create Report from the LOV and enter OPS CORP as the parameter. Click (B) Submit.


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Practice - Create Mass Addition Lines

Overview

In this practice, you enter an invoice in Oracle Payables with distribution lines that are to be transferred to Oracle Assets. After the invoice is approved, accounted, and transferred to the General Ledger, Mass Addition lines are created from it.

Assumptions

• If you are not attending training at an Oracle University center or an Authorized Partner Education Center, you must have access to an Oracle Application Vision demonstration database or a comparable training test instance on which to complete this practice.

• Use the Oracle Assets seeded Responsibility > Assets, Vision Operations (USA)


• Replace any year references of YYYY and YY with the calendar year of your choice or as directed by the Instructor (for example, 2008 or Jan-08). Keep in mind that some transactions require calendar dates and calendar periods to be defined and enabled in order to be processed.

• The segment separator for the accounting flexfield may not be a dash "-". Substitute the applicable segment separator if necessary.

• The Use Batch Controls option is not enabled in Oracle Payables.

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Tasks

Enter an Invoice in Oracle Payables

Your organization has received a standard invoice from Star Gate LTD for $86,414.15. You need to make payment to the STAR GATE – PAY Site and the Invoice Number is XXINV. The invoice date happens to be the first day of the current open period in your asset book OPS CORP. (If you do not know what date this is, ask your instructor or review the OPS CORP book controls). The distribution information for this invoice is as follows:

Num Type Amount Account Description

1 Item 2828.31 01-000-1570-0000-000 Dealer Prep

2 Item 51000.00 01-000-1570-0000-000 Truck

3 Item 24000.00 01-000-1570-0000-000 4 Laptops

4 Item 2000.00 01-000-1570-0000-000 Really Cool Stereo

5 Item 6585.84 01-000-1570-0000-000 Tax

Enter the invoice, and then validate and create accounting for it.

Create Mass Addition Lines

Create Mass Addition lines for the invoice that you just entered. Remember that all invoice lines that are to be created as Mass Additions must first be transferred to the General Ledger. Run the Mass Additions Create Report to review the Mass Addition lines that were created.

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Solution: Create Mass Additions




• (N) Invoices > Entry > Invoices.





Invoice Number XXINV where XX represents your student number

Invoice Amount $86,414.15

4. (T) Lines. Enter the following invoice line data (Note: you can use folder technology to make data entry easier): Num Type Amount Account Description Track As Asset

1 Item 2828.31 01-000-1570-0000-000

Dealer Prep Checked

2 Item 51000.00 01-000-1570-0000-000

Truck Checked

3 Item 24000.00 01-000-1570-0000-000

4 Laptops Checked

4 Item 2000.00 01-000-1570-0000-000

Really Cool Stereo Checked

5 Item 6585.84 01-000-1570-0000-000

Tax Checked

(Note: If the system generates the tax for the invoice, delete line 5 under the (T) for Lines.)

5. Save your work.

6. Validate your invoice by clicking the (B) Actions..1, and then selecting the Validate check box.

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7. (B) OK.

8. Create accounting for your invoice by clicking the (B) Actions…1 and selecting the Create Accounting check box and the Final option. Click the (B) OK.

9. (B) OK to accept the confirmation message.

10. Close the Invoices form.


NOTE: In a class situation where multiple students perform this practice simultaneously, only one person should execute the following tasks. In the case of Instructor-led training, the Instructor or his or her designate will perform these tasks.



12. Choose to run the Transfer Journal Entries to the GL process from the List of Values with the following parameters:

Parameter Value

Ledger Vision Operations (USA) (default)

End Date Use the invoice date of the invoice created (01-MMM-YYYY).

Post in General Ledger No

13. (B) Submit.

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14. View your concurrent request to ensure that it completes normally.

• (M) View > Requests.

15. From the Requests form, choose to Submit a New request.

16. Choose to run the Mass Additions Create process from the List of Values with the following parameters:

Parameter Value

GL Date Use the invoice date of the invoice created (01-MMM-YYYY).

Book OPS CORP

17. (B) Submit.






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Guided Demonstration - Automatic Preparation of Mass Addition Lines

Create a Value for a Minor Category

Before running Prepare Mass Additions to automatically prepare mass additions lines, you need to ensure that you have a unique category and clearing account.




Application Assets



Segment Minor Category

Independent Computer

2. (B) Find.


4. Enter MODEM as a new value for the minor category. Enter the same value in the Description field.


Create a Natural Account




Application General Ledger

Title Accounting Flexfield

Structure Operations Accounting Flex

Segment Account

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7. (B) Find.


9. Enter a new four-digit account value, = 1599.

Note: Ensure that the four-digit account value that you enter has not been defined. If the value you enter has been defined previously, enter another value.

10. In the Description field, enter Demo Clearing Account XX.

11. Press the Tab key until the Segment Qualifiers window opens.

12. Change the Account Type to Asset. Leave the other fields as they are.

13. (B) OK.


Create an Asset Category


You need to set up an asset category using the minor asset category and the new account value that you defined.


15. In the Category field, enter a major category of Computer. For minor category, enter the name of the minor category that you set up, =Modem "description = Modem", COMPUTER-MODEM.


17. Enter the following account information: Field Value

Asset Cost 01-000-1560-0000-000

Asset Clearing 01-000-1599-0000-000

Depreciation Expense 01-000-7360-0000-000



18. Accept the defaults for Bonus Expense and Bonus Reserve.


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20. Enter STL in the Method field.

21. Enter 5 in the Life Years field.

22. Enter Month in the Prorate Convention and Retirement Convention fields.

23. Save your work and close the Default Depreciation Rules window and the Asset Categories window.

Set Up Mass Additions Line Rules



24. Query the QuickCode called RULES TO PREPARE MASS ADDITIONS.

25. Verify that USE CUSTOM and USE CUSTOM ENERGY have disable dates. Verify that USE DEFAULT has no disable date. For example:

Value Description Disable Date

USE CUSTOM Use Custom 15-JAN-2007

USE CUSTOM ENERGY

Use Custom Energy

15-JAN-2007

USE DEFAULT Use Default





(N) Invoices > Entry > Invoices.


Trading Partner Advantage Corp

Supplier Site ADVANTAGE - US

Invoice Date Use date within the current open period in Oracle Assets, for example, 15-DEC-2008.

Invoice Number XXINVMA where XX represents any value you choose

Invoice Curr USD

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Invoice Amount $ 5,375.00

Payment Method Check

29. Save the invoice by clicking the Save icon on the toolbar or using CTRL + S.

30. (T) Lines.

31. Enter the following invoice line data (Note: you can use folder technology to make data entry easier): Num Type Amount Distribution Account Description

1 Item 5,000 01-000-1599-0000-000 Computer Parts

32. Save your work.

33. Validate your invoice by clicking the (B) Actions…1, and then selecting the Validate check box.

Note: If system did not calculate tax, then increase the amount in line to 5,375.

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34. (B) OK.

35. Create accounting for your invoice by clicking the (B) Actions…1 and selecting the Create Accounting check box. Select the Final Post option. Then click (B) OK. You receive a message stating that accounting has been created for the invoice.

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36. Close the Invoice Workbench window.





38. From the Requests form, click (B) Submit a New Request.


40. Choose to run the Mass Additions Create process from the List of Values using the following parameters:

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Parameter Value

GL Date Use the invoice date of the invoice created (01-MMM-YYYY)

Book OPS CORP

41. (B) OK.

42. (B) Submit.





47. (B) No.



Run the Prepare Mass Additions Program



50. Enter OPS CORP in the Book field and your invoice number in the Invoice field and click (B) Find.

51. (B) Open.

52. In the Mass Additions window, confirm that your invoice contains no category information.

53. Close the Mass Additions window.

54. Change your responsibility to Fixed Assets Manager

55. Navigate to the Submit Request window.


56. Choose Single Request and click (B) OK.

57. Enter Prepare Mass Additions in the Name field.

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58. In the Parameters window, enter OPS CORP in the Book field.

59. (B) OK.

60. (B) Submit.

61. When you receive the message “Submit another request?” click (B) No.

62. Change your responsibility to Assets, Vision Operations (USA)

63. Find your invoice again in the Mass Additions window and confirm that the category has been added.

64. Click (B) Assignments and confirm that the expense account has been added.

65. In the Assignments window, enter USA-CA-SAN FRANCISCO-100 in the Location field.

66. Save your work and close the Assignments window.

67. Back on the Mass Additions window, enter a description in the Description field, for example, XX Asset.

68. Change the queue to Post.

Post Mass Additions


69. Enter the following values:


Mass Additions Post Mass Additions Post OPS CORP



OPS CORP

70. (B) Submit.

71. Navigate to the Requests window to view your requests:

(N) Other > Requests > Concurrent.

72. Click (B) Find.

73. Select the Request ID of the Mass Additions Posting Report that you just ran and click (B) View Output.

74. View your asset in the Asset Workbench.


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75. Enter your asset number in the Asset Number field and OPS CORP in the Book field and click (B) Find.


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Mass Addition Queue Names Queue Name Definition Set by Ready for

Posting

CAPITALIZE Assets that you want to capitalize in the future You No

COST ADJUSTMENT A mass addition line ready to be added to an existing asset

Oracle Assets Yes

DELETE A mass addition line to be deleted You Cannot be posted

MERGED A mass addition line that is already merged into another line (a merged child)

Oracle Assets Cannot be Posted

NEW New mass addition line that is created but not yet reviewed or updated

Mass Additions Create Program

No

ON-REVIEW Mass addition lines that need to be reviewed before posting

You No

ON HOLD & USER DEFINED

A mass addition line that is not ready for posting; waiting for more information to be specified Also, a new single line created by a split has this status.

You or Oracle Assets

No

POST A mass addition line ready to become an asset You Yes

POSTED A mass addition line that has already been posted and is now an asset

Mass Additions Post program

Cannot be posted

SPLIT A multi-unit mass addition line that is already split into multiple lines (a split parent)

Oracle Assets Cannot be Posted

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Changing Asset Information Field Name Entry Type Action

Category Required Entry Enter the appropriate category for the asset.

Employee Optional Entry Enter the employee name responsible for the asset.

Expense Account Required Entry Enter the depreciation expense account.

Location Required Entry Enter the location of the asset.

Source Region Default Supplier information defaults into the Source region. Enter additional information.

Asset Depreciation Region Optional Entry Adjust the cost or units of a mass addition. Specify an asset’s descriptive information. The asset type defaults from the account that the invoice line is charged to. For example, if the asset is charged to a CIP clearing account, its asset type is CIP.

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Guided Demonstration - Prepare Mass Addition Lines


(N) Mass Additions > Prepare Mass Additions

1. In the Find Mass Additions form, enter the invoice number that you created in the previous demonstration (XXINV) in the Invoice Number field and click the (B) Find.

2. Merge Lines 1 and 3 into Line 2 by clicking Line 2 and clicking the (B) Merge.

3. In the Merge Mass Additions form that opens, select the Merge check boxes on the left for Lines 1 and 3. Queue names should change to Merged. Note the new Total Merged Cost field of $108,000.

4. (B) Done.

5. In the Mass Additions Summary form, click Line 2 DX7 Thingamabob and click the (B) Open.

6. Enter the following data in the Mass Additions form: Field Name Value

Category MACHINE-FABRICATE (LOV)

Expense Account 01-120-7330-0000-000

Location UK-N/A-LONDON-NONE

7. Change the Queue field from ON HOLD to POST and click the (B) Done.

8. In the Mass Additions Summary form, click Line 4 and click the (B) Open.

9. In the Category field, enter COMPUTER-PC.

10. Click the Asset Details Tab and change the Description to Mighty Good Computer.

11. Change the Units field to 3.

12. Click the (B) Assignments.

13. Change the Units column to 3 and enter the Depreciation Expense Account 01-110-7360-0000-000 and Location US-CA-SAN FRANCISCO-1.

14. Click the (B) Done and close the Mass Additions form.

15. You should be back on the Mass Additions Summary form with Line 4 selected. Click the (B) Split. Acknowledge the message windows by clicking OK.

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16. Note the 3 additional lines for Mighty Good Computer with a Queue of ON HOLD. Click back on Line 4 with the Queue SPLIT and note that the Undo Split button is enabled if you want to undo the previous split.

17. Select Line 5 for the RFK CD SOUND SYSTEM and click the (B) Add to Asset.

18. In the Find Assets window, enter 102074 in the Asset Number field and click the (B) Find.

19. Select the Amortize Adjustment check box for 24 Ford Truck in the Add to Asset form, and then click the (B) Done.

20. To demo the Post All feature, click the Find icon on the toolbar. Your Invoice Number should still be listed in the Find Mass Additions form. Leave it there and choose the queue ON HOLD from the LOV in the Queue field. Click the (B) Find.

21. You should now see the Mass Additions Summary form with only 4 Lines for your invoice, all of them with the queue ON HOLD. Choose the (M) Tools > Post All.

22. Note that 3 lines change to POST queue and 1 line to COST ADJUSTMENT.

23. Important note: You must now save your work.

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Practice - Prepare Mass Addition Lines

Overview

In this practice, you prepare the Mass Addition lines that you created from the invoice in the previous practice in this module (XXINV). You perform a merge, split, and add to the existing asset as well as prepare lines for posting to Oracle Assets.

Assumptions





• The segment separator for the accounting flexfield may not be a dash "-". Substitute the applicable segment separator if necessary.

Tasks

Merge and Prepare for Posting Mass Addition Lines

Using the Mass Addition lines from the invoice that was created in the previous practice (invoice XXINV), query the Mass Addition lines associated with this invoice and merge the SALES TAX and DEALER PREP lines into the TRUCK line. Then prepare the TRUCK line for posting by assigning it the following data and assigning the correct queue name:

Field Name Value

Category VEHICLE-OWN HEAVY

Employee Name Lamoreux, Mr. Maxwell D.

Depreciation Expense Account 01-110-7350-0000-000


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Split a Mass Addition Line

Split the line for 4 LAPTOPS into 4 separate Mass Addition lines and prepare them for posting. Note: Because you entered the invoice in Payables, you were not able to assign units; therefore, you must change the number of units to 4 for this line so that you can split it into separate assets. Also, it is advisable to prepare the original line with all the necessary data before splitting it because this information will carry over to each new split line and will not have to be reentered. The Laptops should have the following data assigned to them:

Field Name Value


Description Laptop




Add a Mass Addition Line to an Existing Asset

Add the line for the REALLY COOL STEREO to the asset with the description XX CHEVY IMPALA in the OPS CORP asset book (XX must be a number between 01 and 24 in order to assign it to an asset already seeded in the OPS CORP asset book. Use your unique number as noted in the practice assumptions or as assigned by your Instructor). You do want to amortize any depreciation adjustments due to the change in asset cost.

Use the Post All Feature

Change the Queue for the new LAPTOP lines and the REALLY COOL STEREO by using the Post All feature. You must requery your Mass Addition lines for your invoice so that only the ON HOLD queue lines are displayed before you can use the Post All feature.

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Solution: Prepare Mass Addition Lines

Merge and Prepare for Posting Mass Addition Lines

1. Navigate to the Prepare Mass Additions form:


2. In the Find Mass Additions form, enter OPS CORP in the Book field and the invoice number that you created in the previous practice (XXINV) in the Invoice Number field, and click the (B) Find.

3. In the Mass Additions Summary form, click Line 2 TRUCK and click the (B) Open.

4. Enter the following data in the Mass Additions form:

Field Name Value

Category VEHICLE-OWN HEAVY

Employee Name Lamoreux, Mr. Maxwell D.



5. Change the Queue field from NEW to POST and click the (B) Done.

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Split a Mass Addition Line

6. In the Mass Additions Summary form, click Line 3, 4 Laptops and click the (B) Open.

7. In the Category field, enter COMPUTER-PC.

8. Click the Asset Details Tab and change the Description to Laptop.

9. Change the Units field value to 4.

10. Click the (B) Assignments.

11. Change the Units column to 4 and enter the Employee Name Adams, Mr. Brian, Depreciation Expense Account 01-110-7360-0000-000, and Location USA-CA-SAN FRANCISCO-2.

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12. Click the (B) Done and close the Mass Additions form.

13. You should return to the Mass Additions Summary form with Line 3 selected. Click the (B) Split. Acknowledge the message windows by clicking OK. Note the 4 additional lines for LAPTOP with a Queue of ON HOLD.

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Add a Mass Addition Line to an Existing Asset

14. Click Line 4 for the REALLY COOL STEREO and click the (B) Add to Asset.

15. In the Find Assets window, enter %XX CHEVY% in the Description field and click the (B) Find.

16. Select the Amortize Adjustment check box for XX CHEVY IMPALA in the Add to Asset form, and then click the (B) Done.

Use the Post All Feature

17. Click the Find icon on the toolbar. Your Invoice Number should still be listed in the Find Mass Additions form. Retain it there and choose the queue ON HOLD from the LOV in the Queue field. Click the (B) Find.

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18. You should now see the Mass Additions Summary form with only 5 Lines for your invoice, all of them with the queue ON HOLD. Choose the (M) Tools > Post All.

19. Click (B) OK.

20. Requery the window.

21. Note that 4 lines have changed to the POST queue and 1 line to COST ADJUSTMENT.

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22. Save your work.

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Guided Demonstration - Post Mass Additions


(N) Mass Additions > Post Mass Additions

1. In the Submit Request Set form, select the OPS CORP asset book from the LOV for the Parameters field.

2. Tab to the Parameters field for the Mass Additions Posting Report. When you invoke the LOV, the OPS CORP asset book will already be selected.

3. Click the (B) Submit.

4. View the completed concurrent request.

5. Select the Mass Additions Posting Report request, and then click the (B) View Output.

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Guided Demonstration - Add a Future Dated Asset


(N) Mass Additions > Prepare Mass Additions

Note: Before performing this demo, you must ensure that the System Profile option FA: Default DPIS to Invoice Date is set to Yes. If it is not, you must change it using the PROFILEOPTIONS user ID, and then select the System Administrator Responsibility.

1. In the Find Mass Additions form, click the (B) New.

2. Add a new Mass Addition line using the following data: Field Name Value

Book OPS CORP

Transaction Date Enter the first day of the next period AFTER the current open period in the OPS CORP book.


Expense Account 01-110-7350-0000-000

Location USA-NY-NEW YORK-NONE

Cost 15,000

Description Future Car

Units 1

3. Change the Queue field to POST.

4. (B) Done.


(N) Depreciation > Run Depreciation

6. Run depreciation and choose the Close Period option for the OPS CORP book for the current open period.

(M) View > Requests

7. Monitor the depreciation concurrent processes to completion.

Note that the last request run is the Process Pending Transactions Request.


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9. Click the Find icon.

10. In the Find Assets form, enter FUTURE CAR in the Description field (case-sensitive) and click the (B) Find.

11. Note the asset that was added based on the future transaction you created.

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Guided Demonstration - Add Assets Using Web ADI

Prerequisites for this demonstration:

• Excel 2000, 2002, or 2003


• From the Tools menu, select Macro > Security > Security Level.



• Select the Trust access to the Visual Basic Project option.

Create a New Spreadsheet in Web ADI


(N) Mass Additions > Additions Integrator.

1. Enter the following values: Corporate Asset Book OPS CORP

Viewer Excel 2003


2. (B) Open.

3. Click (B) Enable Macros, if necessary.

4. In the Download window, click (B) Close when you receive a confirmation that the spreadsheet has been created.





6. Enter the following data into your assets worksheet:

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Column Asset # 1 Asset # 2

Description XX_Admin Bldg XX_BMW

Major Category BUILDING VEHICLE

Minor Category OFFICE OWNED LUXURY

Units 1 1

Cost 750,000 25,000

Country USA USA

State NY CA

City NEW YORK SAN FRANCISCO

Building NONE NONE

Expense Account 01 110 7320 0000 000 01 120 7350 0000 000

Clearing Account 01 000 1570 0000 000 01 000 1570 0000 000 (add using Excel copy and paste functionality)

Date Placed in Service First day of the current open period in the OPS CORP book

First day of the current open period in the OPS CORP book (add using Excel copy and paste functionality)

Upload Assets to Interface




• Select Validate Before Upload and Create Assets.

9. (B) Upload.


11. Navigate to the Requests window to view the output of the Mass Additions Posting Report that you ran when creating the upload.


12. Click the Find icon.

13. In the Find Assets form, enter XX_% in the Description field and OPS CORP in the Book field, and then click (B) Find.

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14. You should now see the two assets that you added using the Web ADI Create Assets spreadsheet.

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Practice - Add Assets Using Web ADI

Overview

In this practice, you create an asset worksheet in the Oracle Web Applications Desktop Integrator (Web ADI), add asset data using that worksheet, and then upload the asset data to the Oracle Assets application creating new assets.

Assumptions





Prerequisites

• Excel 2000, 2002, or 2003






Tasks

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Add the following asset data to the asset worksheet that you just created. You can enter data directly into the worksheet cells, use the List of Values option, or a combination of both:

Column Asset # 1 Asset # 2 Asset # 3




Units 1 1 1

Cost 750,000 25,000 4,500

Country USA USA USA

State NY CA CA



Expense Account

XX 110 7320 0000 000

XX 120 7350 0000 000 XX 120 7360 0000 000

Clearing Account

XX 000 XXXX 0000 000

XX 000 XXXX 0000 000

XX 000 XXXX 0000 000






Upload the worksheet with the asset data entered into the XXCORP BOOK, choosing to post the asset data now.

View your assets using the Asset Workbench.


Create an asset worksheet in Web ADI for the XXCORP BOOK using the Default worksheet layout. The header information in your worksheet should reflect the first day of the current open period for the XXCORP BOOK in the format MM/01/YYYY.

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Solution: Add Assets Using Web ADI


1. Navigate to the Additions Integrator:

• (N) Mass Additions > Additions Integrator.

2. Enter the following values: Corporate Asset Book XXCORP BOOK

Viewer Excel 2003


3. (B) Open.


5. In the Download window, click (B) Close when you receive the confirmation that the spreadsheet is created.

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7. Add the following asset data into the worksheet: Column Asset # 1 Asset # 2 Asset # 3




Units 1 1 1

Cost 750,000 25,000 4,500

Country USA USA USA

State NY CA CA



Expense Account

XX110 7320 0000 000

XX 120 7350 0000 000 XX 120 7360 0000 000

Clearing Account

XX 000 XXXX 0000 000

XX 000 XXXX 0000 000

XX 000 XXXX 0000 000





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• Select:

• Validate Before Upload

• Create Assets

10. (B) Upload.


12. Navigate to the Requests window to view the output of the Mass Additions Posting Report that you ran when creating the upload:

(N) Other > Concurrent.

13. (B) Find.

14. Place your cursor on the request ID for the Mass Additions Posting Report.



17. View your newly added asset in the Asset Workbench:


18. In the Find Assets window, enter XX% in the Description field and OPS CORP in the Book field.

19. In the Assets window, place your cursor on one of the asset numbers and click (B) Open to view the asset. Repeat for the other two assets.


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Guided Demonstration - Create a CIP Asset and Build Costs


(N) Assets > Assets Workbench (B) QuickAdditions.

1. Add an asset using QuickAdditions with the following data: Field Name Value

Description Office Building

Tag Number XXCIP1


Asset Type CIP

Book OPS CORP

Expense Account 01-110-7320-0000-000

Location USA-CA-SAN FRANCISCO-NONE

2. (B) Done.

3. In the Assets form, query the asset that you just added using the unique Tag Number XXCIP1.


5. Enter the following source line data: Field Name Value

Invoice Number 04111983

Line 2

Description Hard Labor

Line Amount 85,000

6. (B) Done.

Now add a mass addition line to this asset.


7. In the Find Mass Additions form, enter Invoice Number XXSEP1234 and Line 4.

This invoice was created in the previous chapter.

8. (B) Find.

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9. In the Mass Additions Summary form, with the DESIGN FEES line selected, click (B) Add to Asset.

10. In the Find Assets form, enter XXCIP1 in the Tag Number field, and then click (B) Find.

11. (B) Done.

12. (B) Open. Change the Queue to Post (the system changes it to COST ADJUSTMENT).

13. (I) Save.

(N) Mass Additions > Post Mass Additions.

14. Run the Post Mass Additions process for the OPS CORP asset book.

15. (M) View > Requests to ensure that the Post Mass Additions process completes normally.


16. Find the asset with the Tag Number XXCIP1. Click (B) Source Lines.

17. Note that DESIGN FEES from Invoice SEP1234 is now displayed and the cost of the asset is $97,000.

18. (B) Cancel.

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Guided Demonstration - Transfer Invoice Lines


(N) Assets > Assets Workbench (B) QuickAdditions.

1. Add a second CIP asset using QuickAdditions with the following data: Field Name Value

Description Storage Shed

Tag Number XXCIP2


Asset Type CIP

Book OPS CORP

Expense Account 01-130-7320-0000-000

Location UK-N/A-LONDON-NONE

2. (B) Done.

3. In the Assets form, query the asset with the unique Tag Number XXCIP1.


5. Transfer 25,000 of the cost from the Hard Labor line to the asset that you added earlier by entering 25,000 in the Transfer Amount field and pressing the Tab key (you must do this to enable the Transfer To button).

6. Click (B) Transfer To….

7. In the Transfer To form, go into query mode (F11) and enter XXCIP2 in the Tag Number field. Execute the query.

8. (B) Done.

9. In the Assets form, click (I) Find and enter XXCIP% in the Tag Number field of the Find Assets window to query both the CIP assets. Click (B) Find.

10. With both the CIP assets now displayed, select the XXCIP1 asset.


12. Note that the line for Hard Labor now has a cost of 60,000.

13. (B) Cancel.

14. Back in the Assets form, select the XXCIP2 asset.

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16. Note that there is now a line for Hard Labor for 25,000.

17. (B) Cancel.

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Practice - Create a CIP Asset and Add Costs

Overview

In this practice, you build a CIP asset using QuickAdditions and manually add invoice lines to it.

Assumptions






Tasks

Create a CIP Asset

It is 5:00 PM and your boss just rushed into your office asking you to add the following asset before you head home. In typical fashion, the information needed to add the asset is written on a napkin. As best as you can make out, the data for the asset is:

Field Name Value

Description Executive Tower

Tag Number XXCIP1



Asset Type CIP

Book OPS CORP

Expense Account 01-110-7320-0000-000

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Manually Add Invoice Costs

Even as you try to decipher the piece of information, you are also able to determine that one invoice line needs to be added to this CIP asset. The invoice information is as follows:

Field Name Value


Line 1

Description Overpriced Labor

Line Amount 100,000

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Solution: Create a CIP Asset and Add Costs

Create a CIP Asset


1. Navigate to the QuickAdditions form:

• (N) Assets > Asset Workbench (B) QuickAdditions.

2. Add an asset using QuickAdditions with the following data: Field Name Value

Description Executive Tower

Tag Number XXCIP1



Asset Type CIP

Book OPS CORP

Expense Account 01-110-7320-0000-000


3. Click (B) Done and note the asset number assigned ________________.

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Manually Add Invoice Costs

4. From the Assets form, query the CIP asset that you just added by clicking (I) Find on the toolbar.

5. In the Find Assets form, enter either the asset number that you noted or the Tag Number XXCIP1 and the book OPS CORP, and then click (B) Find.

6. After you have successfully found the CIP asset, click (B) Source Lines.

7. Enter the following invoice information: Field Name Value


Line 1

Description Overpriced Labor

Line Amount 100,000

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8. Click (B) Done.

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Practice - Transfer Invoice Lines

Overview

In this Practice, you add a second CIP asset and transfer cost from an invoice line that was previously added to the first CIP asset you created.

Assumptions






Tasks

Add a CIP Asset

You are asked to add another CIP asset with the following information:

Field Name Value

Description Corp Rec Facility

Tag Number XXCIP2


Insurer Fidelity

Building size 25000

Asset Type CIP

Book OPS CORP


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Expense Account 01-110-7320-0000-000


Transfer Invoice Line Costs

Part of the invoice for Overpriced Labor that was added to the asset with the Tag Number XXCIP1 belongs to the preceding asset that you added, XXCIP2. The amount that needs to be transferred is 17,000.

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Solution: Transfer Invoice Lines

Add a CIP Asset




2. Add an asset using QuickAdditions with the following data:

Field Name Value

Description Corp Rec Facility

Tag Number XXCIP2


Insurer Fidelity

Building size 25000

Asset Type CIP

Book OPS CORP


Expense Account 01-110-7320-0000-000


3. Click (B) Done and note the asset number assigned ________________.

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Transfer Invoice Line Costs

4. In the Assets form, query the asset with the unique Tag Number XXCIP1 by clicking (I) Find on the toolbar and entering XXCIP1 in the Tag Number field in the Find Assets form. Then click (B) Find.

5. Click (B) Source Lines.

6. Transfer 17,000 of the cost from the Overpriced Labor line to the asset that you added above by entering 17,000 in the Transfer Amount field and pressing the Tab key (you must do this to enable the Transfer To button).

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7. Click (B) Transfer To…

8. In the Transfer To form, start query mode (F11) and enter XXCIP2 in the Tag Number field. Execute the query by using the Ctrl + F11 keys.

9. Click (B) Done.

10. From the Assets form, click (I) Find and search for both the CIP assets by entering XXCIP% in the Tag Number field of the Find Assets window. Click (B) Find.

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11. With both CIP assets now displayed, select the XXCIP1 asset and click (B) Source Lines.

12. Note that the line for Overpriced Labor now has a cost of 83,000. Click (B) Cancel.

13. Back in the Assets form, select the XXCIP2 asset and then click (B) Source Lines.

12. Note that there is now a line for Overpriced Labor for 17,000. Click (B) Cancel.

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Guided Demonstration - Capitalizing a CIP Asset


(N) Assets > Capitalize CIP Assets.

1. In the Find Assets form, enter the Book OPS CORP and the Tag Number XXCIP1 to find the first CIP asset that you added in a previous demonstration.

2. (B) Find.

Note in the Capitalize CIP Assets form that you can change the Date Placed in Service to any date in the current or any prior period for the OPS CORP asset book.

3. Select the check box to the left of the Asset Number field.

4. (B) Capitalize.

5. The record should save automatically and the Find Assets window is displayed again.

6. To demonstrate the reverse capitalization feature, accept the default information in the Find Assets form except for changing the Asset Type to Capitalized.

7. (B) Find.


9. (B) Reverse.

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Practice - Capitalize a CIP Asset

Overview

In this Practice, you capitalize the first CIP asset that you created in a previous Practice. You then reverse the capitalization.

Assumptions






Tasks

Capitalize a CIP Asset

You have been informed that the CIP asset Executive Tower with the Tag Number XXCIP1 is now ready to be placed in service. Capitalize it in the current open period.

Reverse a Capitalized CIP Asset

As is often the case, you received some misinformation about the Executive Tower being ready to be placed in service. It has now come to your attention that the asset should be placed back into a CIP status.

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Solution: Capitalize a CIP Asset

Capitalize a CIP Asset


1. Navigate to the Capitalize CIP Assets form:

• (N) Assets > Capitalize CIP Assets.

2. In the Find Assets form, enter the Book OPS CORP and the Tag Number XXCIP1 to find the first CIP asset that you added in a previous Practice. Click (B) Find.


4. Click (B) Capitalize.

5. The record should save automatically and the Find Assets window is displayed again.

Reverse a Capitalized CIP Asset

6. Accept the default information in the Find Assets form except for changing the Asset Type to Capitalized. Click (B) Find.

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8. Click (B) Reverse.

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Guided Demonstration - Perform Single Asset Adjustments

Note: You can perform this demonstration in its entirety after you have discussed all the asset adjustments or you can perform the demonstration in steps after completing each type of asset adjustment.


(N) > Assets > Asset Workbench (B) QuickAdditions.

1. Using QuickAdditions, add a new asset with the following data: Field Name Value

Description Storage Building

Tag Number XXBUILDING


Units 2

Book OPS CORP

Cost 50,000

Employee Name Ackroyd, Mr. Charles

Expense Account 01-110-7320-0000-000

Location USA-CA-SAN FRANCISCO-NONE

2. (B) Done.

(N) Assets > Asset Workbench (B) Open.

Asset Reclass

3. In the Assets form, find the asset that you just added and perform a reclassification by changing the Category in the Asset Details form from BUILDING-OFFICE to BUILDING-MANUFACTURING.

4. (B) Done.

Unit Adjustment

5. In the Assets form, find the asset that you just added again and change the number of Units from 2 to 1 by clicking (B) Open from the Asset Workbench. You must tab through the Units field to enable the Continue button at the bottom of the window. Decrease the unit in the Assignment window.

6. (B) Done.

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(N) Assets > Asset Workbench (B) Books.

Cost Adjustment

7. In the Assets form, find the same asset again and make a cost adjustment by clicking (B) Books.

8. Enter OPS Corp in the Book field and tab to the Current Cost field.

9. Change the Current Cost from 50,000 to 40,000.

10. (B) Done.

(N) Assets > Asset Workbench (B) Assignments.

Transfer an Asset

11. Be sure to requery the Storage Building asset in the Assets form before performing this step (to ensure that the unit change and cost change are accurately reflected).

12. In the Assignments form, Transfer .5 of a unit to Employee Name Art Vandelay with the same Expense Account but at Location USA-NY-NEW YORK-NONE.

13. Enter -.5 in the Unit Change field of the existing Assignment line and add a new line with .5 units to the Employee Name and Location mentioned earlier. Use Shift + F5 to copy the Expense Account field from the first line.

14. (B) Done.

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Guided Demonstration - Perform Mass Transactions


Perform a Mass Reclassification

(N) > Mass Transactions > Reclassifications.

1. In the Mass Reclassifications form, enter the following data: Field Name Value

Book OPS CORP

Category VEHICLE-LEASED STANDARD

New Category VEHICLE-OWNED STANDARD

Check boxes Select all three.

2. (B) Preview.

3. Note the Mass Transaction Number ______.

4. View the Mass Reclassification Preview Report by going to the View Request form.

(M) View > Requests.

5. Select the Mass Reclassification Preview Report request.

6. (B) View Output.

7. Close the Report window and return to the Navigator.

8. Navigate back to the Mass Reclassifications form.

(N) Mass Transactions > Reclassifications.

9. Go into query mode and enter the Mass Transaction Number in the field with the same name. Execute the query.

10. Note that both the Run and Preview buttons are now enabled.

11. Delete the Mass Reclassification by selecting (M) Edit > Delete.

12. (B) OK.

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Mass Change

(N) Mass Transactions > Changes.

13. In the Mass Changes form, enter the following data: Field Name Value

Book OPS CORP

Depreciation Method - Before STL

Depreciation Method - After STL

Life – Before 30

Life – After 33

14. Click (B) Preview. Note the Mass Transaction number ___________.

15. View the Mass Change Preview Report by going to the View Request form.


16. Select the Mass Change Preview Report request, and then click (B) View Output.


18. Navigate back to the Mass Changes form.

(N) Mass Transactions > Changes.



21. To prevent someone from running this Mass Transaction later, delete the Mass Change by selecting (M) Edit > Delete.

22. (B) OK.

Mass Transfer

(N) Mass Transactions > Transfers.

23. In the Mass Transfers form, enter the following data: Field Name Value

Book OPS CORP

Location Transfer From USA-CA-SAN FRANCISCO-NONE

Location – Transfer To USA-NY-NEW YORK-NONE

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24. (B) Preview.

25. Note the Mass Transaction number ___________.

26. View the Mass Transfer Preview Report by going to the View Request form.


27. Select the Mass Transfer Preview Report request, and then (B) View Output.


29. Navigate back to the Mass Transfers form.

(N) Mass Transactions > Transfers.



32. To prevent someone from running this Mass Transaction later, delete the Mass Transfer by selecting (M) Edit > Delete.

33. (B) OK.

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Practice - Perform Single Asset Adjustments

Overview

In this Practice, you enter a new asset, and then perform the following adjustments to it: reclassification, unit change, cost adjustment, and transfer.

Assumptions




• Replace any year references of YYYY and YY with the calendar year of your choice or as directed by the Instructor (for example, 2002 or Jan-02). Keep in mind that some transactions require calendar dates and calendar periods be defined and enabled before hand in order to be processed.


Tasks

Add a New Asset Using QuickAdditions

Add a new asset using the QuickAdditions feature with the following data: Field Name Value

Description Very Large Truck

Tag Number XX_LARGE TRUCK


Descriptive Flexfield Information Skip entry

Units 2

Book OPS CORP

Cost 75,000

Employee Name Allen, Bertie

Expense Account 01-130-7350-0000-000

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Reclassify the Asset The Very Large Truck that you added was incorrectly categorized as VEHICLE-OWNED STANDARD. Reclassify this asset as VEHICLE-OWNED HEAVY so that proper depreciation is taken.

Perform a Unit Change

The Very Large Truck was incorrectly added with 2 units. Change the number of units to 1.

Perform a Cost Adjustment

You find that pretty much everything about the Very Large Truck that you added was incorrect. The newest information that you have indicates that the cost of the asset should be 100,000. Make the cost adjustment.

Transfer the Asset

Last but not the least, you are told that 25% of the Very Large Truck’s depreciation should be charged to Expense Account 01-110-7350-0000-000. The Employee Name and Location are correct. Make the transfer adjustment.

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Solution: Perform Single Asset Adjustments

Add a New Asset Using QuickAdditions




2. Add a new asset with the following data: Field Name Value

Description Very Large Truck

Tag Number XX_LARGE TRUCK


Descriptive Flexfield Information Skip entry

Units 2

Book OPS CORP

Cost 75,000

Employee Name Allen, Bertie

Expense Account 01-130-7350-0000-000


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3. Save your work by clicking (B) Done.

Reclassify the Asset

4. If not already there, navigate to the Asset Workbench:


5. Find the Very Large Truck asset by clicking (I) Find and entering the Tag Number XX_LARGE TRUCK. Click (B) Find.

6. Open the Asset Details form.

• (N) Assets > Asset Workbench (B) Open.

7. In the Asset Details form, change the Category field to VEHICLE-OWNED HEAVY using the List of Values. Skip the Asset Category fields.

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8. Click (B) Done.

Perform a Unit Change

9. From the Asset Workbench, find the Very Large Truck asset by clicking (I) Find and entering the Tag Number XX_LARGE TRUCK. Click (B) Find.

10. Open the Asset Details form.

• (N) Assets > Asset Workbench (B) Open.

11. Change the Units field to 1, and then tab. Click (B) Continue.

12. Enter –1 in the Unit Change field, and then tab.

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13. Click (B) Done.

Perform a Cost Adjustment


15. Open the Books form by clicking (B) Books.

16. In the Books field, enter OPS CORP, and then tab to the Current Cost field. The current cost information should be displayed.

17. Change the Current Cost field to 100,000.

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18. Click (B) Done.

Transfer the Asset


• Note: Even if the Very Large Truck is still displayed in the Asset Workbench form from the previous adjustment, you still need to requery the asset.

20. Open the Assignments form.

• (N) Assets > Asset Workbench (B) Assignments.

21. Enter -.25 in the Unit Change field for the only line displayed.

22. Use the down arrow on your keyboard or click on the next line to open a new line.

23. Enter .25 in the Unit Change field, and then tab. Use Shift + F5 to copy Employee Name data. Enter 01-110-7350-0000-000 in the Expense Account field. Use Shift + F5 to copy Location data.

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24. Click (B) Done.

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Guided Demonstration - Schedule Asset Maintenance


(N) Assets > Maintenance > Schedule Events

To schedule asset maintenance, perform the following:

1. Open the Schedule Maintenance Events window.

2. Enter the Start Date and End Date of the current year.

3. Enter the depreciation book containing the assets for which the maintenance will be scheduled.

• Depreciation Book = OPS CORP

4. Enter Asset Number: 100051.

5. Enter the following information:

• Event Name = Quarterly Maintenance

• Frequency = 90 days

6. Select Run to schedule the maintenance events.

To view maintenance schedules, perform the following:

(N) Assets > Maintenance > View Details.

7. Navigate to the Maintenance Details window.

8. Query the asset for the maintenance event that you want to view.

9. Optionally, enter changes.

10. Save your work.

To purge maintenance schedules, perform the following:

(N) Assets > Maintenance > Purge.

11. Navigate to the Purge Maintenance Schedules window.

12. Enter the selection criteria to select the maintenance schedules that need to be purged, such as Schedule ID, Asset Number, or Maintenance Date.

13. Select Purge.

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Guided Demonstration - Review a Physical Inventory


(N) Physical Inventory > Enter

1. In the Physical Inventory form, enter XX_Physical in the Inventory field.

2. (B) Open.

3. In the Inventory Entries form, enter the following information: Field Name Asset #1 Asset #2 Asset #3


USA-NY-NEW YORK-NONE

USA-NY-NEW YORK-NONE

Units 1 1 1

Asset Number 100078 100079 100344

4. (I) Save.

(N) Physical Inventory > Comparison > Run Comparison

5. In the Run Comparison form, select the XX_Physical from the LOV.

6. (B) Run.

7. View the concurrent request for the PI Comparison program to ensure that it completes without error, and then return to the Navigator.

(N) Physical Inventory > Comparison > View

8. In the Find Physical Inventory Comparison window, select XX_Physical from the LOV.

9. (B) Find.

10. Note that the 3 lines show in the Physical Inventory Comparison form with Transfer in the Adjustments – Locations column and a Status of Difference.

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Guided Demonstration - Create a Physical Inventory in Web ADI

Prerequisites for this demonstration:

• Excel 2000, 2002, or 2003.


• From the Tools menu, select Macro, then Security, and then Security Level.




Create a Physical Inventory Spreadsheet


(N) Physical Inventory > Integrator

1. Enter XXInventory (the physical inventory that you created in the previous demonstration) in the Select Inventory field and click (B) Continue.2.

2. Enter Excel 2003 in the Viewer field and click (B) Next.

3. Enter Physical Inventory – Default in the Layout field and click (B) Next.

4. (B) Open.


6. Enter the following in the spreadsheet:

• Location = USA-CA-SAN FRANCISCO-NONE

• Units = 1 Asset Number = 100091

• Units = 1 Asset Number = 100344

Upload Physical Inventory to Interface

7. In your Excel spreadsheet, choose Oracle > Upload.


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• Duplicate Assets = Do Not Upload

• Select Validate Before Upload, Run Comparison, and View Comparison Results.

9. (B) Upload.

10. When the upload completes successfully, click (B) Close. If there are any errors in your upload, fix the errors and rerun the upload.

11. View the Physical Inventory Comparison Report when completed.

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Guided Demonstration - Create a New Depreciation Method


(N) Setup > Depreciation > Methods.

1. Perform the following queries in the Depreciation Methods form to demonstrate some of the seeded methods. Click the (B) Rates where applicable to demonstrate the Depreciation Rates form.

• Query 1 > Method = 150DB

• Query 2 > Method = NL FLAT RATE

• Query 3 > Method = UOP-HOURS

2. (I) New.


Method XX_METHOD

Description Demo for Class

Life Years 3

Prorate Periods Per Year 2

4. Accept the default values for the other fields.

5. (B) Rates.

6. Enter the following data: Year Period Annual

Rate

1 1 .5

2 1 .2

3 1 .2

4 1 .1

1 2 .5

2 2 .3

3 2 .2

4 2 0

7. (I) Save.

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Practice - Create a New Depreciation Method

Overview

In this Practice, you create a new Depreciation Method.

Assumptions




Tasks

Create a New Depreciation Method

Your Company wants to use a custom, three-year accelerated depreciation method for some of its assets. The name of the method should be XXDEP with the description of 3-YEAR ACCELERATED VACRS. This depreciation method is a straight-line method with 3 Life Years and 12 Prorate Periods Per Year. The custom rates for this method are:

Year 1: Periods 1-4, 40%; periods 5-8, 30%; periods 9-12, 20%

Year 2: All periods 30%

Year 3: All periods 30%

Year 4: Periods 1-4, 0%; periods 5-8, 10%; periods 9-12, 20%

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Solution: Create a New Depreciation Method

Create a New Depreciation Method


1. Navigate to the Depreciation Methods form.

• (N) Setup > Depreciation > Methods.


Method XXDEP

Description 3-YEAR ACCELERATED VACRS

Straight Line Method Check box

Life Years 3

Prorate Periods Per Year 12

3. Click (B) Rates.

4. Enter the rate data: Year Per

1 Per 2

Per 3

Per 4

Per 5

Per 6

Per 7

Per 8

Per 9

Per 10

Per 11

Per 12

1 .4 .4 .4 .4 .3 .3 .3 .3 .2 .2 .2 .2

2 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3

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Year Per 1

Per 2

Per 3

Per 4

Per 5

Per 6

Per 7

Per 8

Per 9

Per 10

Per 11

Per 12

3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3 .3

4 0 0 0 0 .1 .1 .1 .1 .2 .2 .2 .2

5. Save your work by clicking (I) Save or pressing Ctrl + S.

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Guided Demonstration - Enter Production


(N) Production > Enter.

1. In the Find Production form, enter the following data:

Field Name Value

Book OPS CORP

Periods Leave blank

Asset Number 100447

2. Click (B) Find.

3. In the Periodic Production form, click (I) New to add a new record.

4. Enter the following data:

Field Name Value

Asset Number 100447

From Date First day of the current open period in the OPS CORP Book

To Date Last day of the current open period in the OPS CORP Book

Production 100

5. Save your work.

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Guided Demonstration - Create a Prorate Convention


(N) Setup > Asset System > Prorate Conventions.

1. In the Prorate Conventions form, enter the following data:

Field Name Value

Convention XX_DEMO

Description DEMO FOR CLASS

Fiscal Year Name ACCOUNTING (LOV)


01-JAN-1993 (automatically fills in

because it is the first day of the defined Fiscal Year)

31-MAR-1993 01-JAN-1993

2. Tab through the subsequent fields and note that Oracle Assets completes the data automatically.

3. After 01-OCT-1993 to 31-DEC-1993 is displayed, save your work.

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Practice - Create a Prorate Convention

Overview

In this Practice, you will create a new prorate convention.

Assumptions




Tasks

Create a New Prorate Convention

You need to create a new prorate convention named XX_PRORATE where assets added on any date in a month have a prorate date of the first day of the month. Your prorate convention should use the fiscal year named ACCOUNTING and be set up through December 1994.

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Solution: Create a Prorate Convention

Create a New Prorate Convention


1. Navigate to the Prorate Conventions form.

• (N) Setup > Asset System > Prorate Conventions.

2. In the Prorate Conventions form, enter the following data: Field Name Value

Convention XX_PRORATE

Description SAME MONTH PRORATE (any description is OK)

Fiscal Year Name ACCOUNTING (LOV)


01-JAN-1993 (automatically fills in as it

is the first day of the defined Fiscal Year)

31-JAN-1993 01-JAN-1993

3. Continue tabbing through the fields until 01-DEC-1994 to 31-DEC-1994 is displayed.

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4. Save your work.

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Guided Demonstration - Perform a Depreciation Projection


(N) > Depreciation > Projections

1. In the Depreciation Projections form, enter the following data: Field Name Value

Projection Calendar Monthly

Number of Periods 12

Starting Period (use the year of the current month)

Jan-YY

Books OPS FEDERAL

Report Detail check box Select Cost Center.

2. (B) Run.

3. Navigate to the View Requests form.

4. Select the FA Projections Report line.

5. (B) View Output.

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Practice - Run a Depreciation Projection

Overview

In this Practice, you will run a depreciation projection for a budget asset book.

Assumptions





Tasks

Run a Depreciation Projection

You have been asked to project depreciation for the OPS BUDGET asset book on a quarterly basis for one year starting with Qtr-1-YY. The projection should present results by cost center detail.

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Solution: Run a Depreciation Projection

Run a Depreciation Projection


1. Navigate to the Depreciation Projections form.

• (N) Depreciation > Projections.

2. In the Depreciation Projections form, enter the following data: Field Name Value

Projection Calendar Quarterly

Number of Periods 4

Starting Period Qtr-1-YY

Books OPS BUDGET

Report Detail checkbox Check Cost Center

3. Click (B) Run.

4. Navigate to the Requests form to review the report.


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5. Select the FA Projections Report line and click (B) View Output.

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Guided Demonstration - Perform a What-if Depreciation Analysis


(N) > Depreciation > What-If Analysis

1. In the What-If Analysis form, enter the following data: Field Name Value

Book OPS CORP

Start Period Jul-YY (must be a period after the current open period and all projection periods must be defined)

Number of Periods 6

Asset Number 10011 (use the XX_Large Truck)

Method STL

Life Years 15

Months 0

2. (B) Run.


4. Select the RX-only: What-If Depreciation Analysis report line.

5. (B) View Output.

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Practice - Perform a What-If Depreciation Analysis

Overview

In this practice, you perform a What-If depreciation analysis.

Assumptions





Tasks

Perform a What-If Depreciation Analysis

You have been asked what the depreciation effect would be if the depreciation method for all assets in the COMPUTER-PC category in the OPS CORP asset book was changed to 150DB with a three-year life. The request asked for depreciation for 12 periods starting with period Jul-YY.

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Solution: Perform a What-If Depreciation Analysis

Perform a What-If Depreciation Analysis


1. Navigate to the What-If Analysis form.

• (N) Depreciation > What-If Analysis.

2. Enter the following data:

Field Name Value

Book OPS CORP

Start Period Jul-YY (must be a period after the current open period and all projection periods must be defined)

Number of Periods 12


Method 150DB

Life Years 3

3. Click (B) Run.

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5. Select the What-If Depreciation Report line and click (B) View Output.

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Guided Demonstration -Perform a Full Retirement and Undo Retirement



1. In the Assets form, find asset number 100111.

2. (B) Retirements.

3. Enter the following data in the Retirements form: Field Name Value

Book OPS CORP

Retire Date Accept default date

Units Retired 1

Retirement Type Sale (LOV)


4. (B) Done.

5. Back in the Assets form, find asset # 100111 again.

6. (B) Retirements.

7. Query the retirement performed earlier by either going into query mode based on Reference Number or performing a query all (Ctrl + F11).

8. (B) Undo Retirement. Confirm the Undo transaction; click the (B) OK.

9. (B) Cancel. Ora

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Guided Demonstration - Process a Partial Retirement and Reinstate




2. Click (B) Retirements.


Book OPS CORP

Retire Date Accept the default date

Units Retired 2

Retirement Type THEFT (LOV)

4. (B) Continue.

5. In the Assignments form, enter –2 in the Units Change field.

6. (B) Done.


(N) Depreciation > Calculate Gains and Losses

8. In the Parameters window, enter OPS CORP book and accept the default period.

9. (B) OK.

10. (B) Submit.

11. After the Calculate Gains and Losses program completes, navigate to:

(N) Asset > Asset Workbench

12. In the Assets form, find asset # 100077 again.

13. (B) Retirements.

14. Query the preceding retirement performed by either going into query mode based on Reference Number or performing a query all (Ctrl + F11).

15. Use the down arrow to scroll down to the previous retirement.

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16. Note that the Gain/Loss field is now populated.

17. (B) Reinstate.

18. (B) Cancel.

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Guided Demonstration - Perform a Mass Retirement


(N) Mass Transactions > Retirements > Create and Reinstate.

1. In the Mass Retirements form, enter the following data: Field Name Value

Book XXCORP BOOK

Retire Date Accept the default.

Retirement Type Sale


Cost of Removal 50,000


2. (B) Create.



5. (B) View Output.

6. Close the View Output window, and then close the Requests form.

7. Reopen the Mass Retirements form.

8. Query the mass retirement that you just created.

9. (B) Retire.




13. Back in the Mass Retirements form, query the mass retirement that you just performed.

14. (B) Undo.

15. (B) OK.

Note: Because no activity has been generated yet (such as the Calculate Gains and Loss program) the "Undo" feature is available.

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Practice - Perform a Retirement and Reinstatement

Overview

In this practice, you perform a partial asset retirement, run the Calculate Gains and Losses program, and then reinstate the retirement.

Assumptions





Tasks

Perform Partial Asset Retirement

Part of the asset with the tag number XXBLDG has been destroyed. You need to retire half of the asset.

Process Asset Retirements

Run the appropriate program that will calculate the gains and losses for the asset you retired.

Reinstate the Retirement

The XXBLDG asset has been rebuilt and the retirement needs to be cancelled. O

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Solution: Perform Retirement and Reinstatement

Perform Partial Asset Retirement


1. Navigate to the Asset Workbench:


2. Click (I) Find.

3. In the Tag Number field, enter XXBLDG.


5. Click (B) Find.

6. Click (B) Retirements.


Book OPS CORP

Retire Date Accept the default date.

Cost Retired 2,500,000.00

Retirement Type DESTROYED

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8. Click (B) Done.

9. Close the Assets window to return to the Navigator.

Process Asset Retirements

10. Navigate to the Calculate Gains and Losses program submission form.

• (N) Depreciation > Calculate Gains and Losses.

11. In the Parameters window, enter OPS CORP.

12. Click (B) OK, and then click (B) Submit.

13. View your request to ensure that it completes normally:

• (N) Other > Concurrent.

14. Click (B) Find.

Reinstate the Retirement

15. Navigate to the Asset Workbench and find the asset on which you performed the partial retirement.

• (N) Assets > Asset Workbench (I) Find.

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16. When the asset is displayed, click (B) Retirements.

17. Query the retirement that you processed by entering Ctrl + F11 in the Retirements form.

18. Note that the Gain/Loss field has data. Click (B) Reinstate.

19. Confirm the reinstatement, click (B) OK, and then click (B) Cancel.

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Guided Demonstration - Run Create Accounting

1. Open the Submit Requests window.

• (N) Create Accounting - Assets.

2. In the Parameters window, enter the following: Field Value

Book Type Code XXCORP BOOK

End Date Leave as the system date

Accounting Mode Draft

Errors Only No

Report Summary

Include User Transaction Identifiers No

Note: The Transfer to General Ledger and Post in General Ledger fields are disabled when you run the process in Draft accounting mode.

3. (B) Okay.

4. (B) Submit.

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Guided Demonstration -Perform Asset Inquiries



1. In the Find Assets window, enter 100111 in the Asset Number field and OPS CORP in the Book field, and then click (B) Find.

2. When the Find is complete, click (B) Assignments to view the assignment information for the asset.

3. Return to the Assets form and click (B) Source Lines. Review the Source Line information for the asset.

4. Return to the Assets form and click (B) Books. Review the financial information for the asset.

5. Click (B) Transactions and click the ADDITION transaction type line.

6. Click (B) Details to review the detail information for ADDITION.

7. Close the windows until you return to the View Financial Information form. Click (T) Depreciation and view the depreciation history for the asset.

8. Return to the View Financial Information form and click (T) Cost History. Review the information.

9. Return to (T) Depreciation and select (M) Tools > View Accounting. Click (B) View Journal Entry. Click (B) T Accounts.

10. In the Options form, click (B) T Accounts and note the T Account presentation. Click (B) Activity Summary and review the information.


(N) Inquiry > Transaction History.

12. In the Find Transactions form, enter the following data: Field Name Value

Book OPS CORP

Asset Numbers 101125 - 101125

13. Click (B) Find.

14. In the Transaction History form, select (M) Tools > View Accounting. Note that accounting data is also available in this type of inquiry.

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17. (B) Go.

18. Click Show on any transaction in the list of accounting events.

19. (B) View Transaction. The Transaction History window in Oracle Assets opens, displaying information about the accounting event.

20. Close the Transaction History window.

21. Return to the Accounting Events window (you may need to click (I) Back) and click (B) View Journal Entries to view the journal entries for this accounting event.


23. In the Options window in Oracle Assets, click (B) T Accounts.


(N) Inquiry > Subledger Accounting > Journal Entries.

25. On the Subledger Journal Entries page, enter: Field Name Value



26. (B) Go.

27. Select the check box next to the first two journal entries.

28. (B) Compare.


(N) Inquiry > Subledger Accounting > Journal Entry Lines.

30. (B) Search.

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Balancing Segment (is) 01

32. (B) Go.



35. Close the transaction screen.

(N) Inquiry > Subledger Accounting > Journal Entry Lines.

36. (B) Search.



Balancing Segment (is) 01

38. (B) Go.


40. Click (B) View Journal Entry.


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Practice - Perform Asset Inquiries

Overview

In this practice, you perform inquiries to obtain asset information.

Assumptions





Tasks


You are asked to find out information for an asset transaction and are only given the Reference Number. You have been informed that the asset is in the XXCORP book and the Reference Number is 108.

• What is the Asset Number and Description?

• Where is the asset located?


From Oracle Assets, perform the following Oracle Subledger Accounting inquiries:

• Accounting Events: Find accounting events with a From Transaction Date of November 1, 2006, a To Transaction Date of April 30, 2007, and the Ledger Vision Operations (USA). View the transaction history and T-accounts for one of these accounting events.

• Journal Entries: Find journal entries in the ledger Vision Operations (USA). The From GL Date should be after December 31, 2006. Compare two journal entries from the list of journal entries.

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• Journal Entry Lines: Find journal entry lines in the Vision Operation (USA) ledger with a balancing segment of XX. Select one of the journal entry lines and view the transaction history and journal entry.


You have been asked to provide the following information for the XXCORP book asset # 100081:

• Where was its last known location?

• What were the accounts used to record the original addition?

• How much depreciation expense was recorded for the asset in the JUL-96 period?

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Solution: Perform Asset Inquiries



1. Navigate to the Financial Information inquiry form:

• (N) Inquiry > Financial Information.

2. In the Find Assets window, enter 100081 in the Asset Number field and OPS CORP in the Book field and click (B) Find.

3. Click (B) Assignments and click in the Location field. Click the (I) Edit Field. Note the Location, which is USA-CA-SAN FRANCISCO-NONE. Close the Assignments form.

4. Click the (B) Books from the Assets form.

5. In the View Financial Information form, click (B) Transactions.

6. Select (M) Tools > View Accounting and note the accounts used to record the original addition:

• DR XX-740-1530-0000-000 30,000.00

• CR XX-000-1570-0000-000 30,000.00

7. Close all the windows until you return to the View Financial Information form. Click the (T) Depreciation.

8. In the Depreciation tabbed region, scroll down until you see the JUL-96 period. Note that the depreciation expense for this period was 250.00.




10. Navigate to the Transaction History inquiry form:

• (N) Inquiry > Transaction History.

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11. In the Find Transactions form, enter the Book OPS CORP and the Reference Number 108. Click (B) Find.

12. Note that the asset number is 100071 and the description is LAND.

13. To find the Location, click the (I) Find.

14. In the Find Transactions form, clear the Reference Number field and enter 100071 in the Asset Numbers range field. Click the (B) Find.

15. In the Transaction History window, click the TRANSFER IN line and click the (B) Details.

16. Click in the Location field in the Transaction Details form. Click the (I) Edit Field and note that the Location is USA-CA-SAN FRANCISCO-NONE. Close all windows and return to the Navigator.







18. Click (B) Go.

19. Click Show on the first transaction in the list of accounting events.

20. Go back to the Accounting Events window (you may need to click (I) Back) and click (B) View Journal Entries to view journal entries for this accounting event.


22. In Oracle Assets on the Options window, click (B) T Accounts.


(N) Inquiry > Subledger Accounting > Journal Entries

24. On the Subledger Journal Entries page, enter:

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Field Name Value



25. (B) Go.

26. Click the Select check box next to the first two journal entries.

27. (B) Compare.



29. (B) Search




31. Click (B) Go.



34. Close the Transaction screen


35. (B) Search.




37. (B) Go.


39. (B) View Journal Entry.


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Guided Demonstration - iAssets Setup-Rules

Responsibility: iAssets Setup Administrator

Set Up Rules

To define the self-service asset transfer rules, perform the following:

1. Open the Create Rule page.

Setup > Rules (B) Create New Rule.

2. Enter XX_Demo in the Rule Name field.

3. Enter a description for the rule.

4. In the Corporate Book field, enter OPS CORP.

5. Determine whether users will be able to use the self-service transfer functionality.

6. The Enable Self–Service Transfer Functionality check box must be selected to enable users to create transfer requests.

If you do not select this check box, users will only be able to search and view assets.

7. Determine whether users are able to enter a transfer effective date while requesting a transfer.

If you select the Allow user–enterable transaction date check box, users will be able to enter the current date or any date within the current fiscal year. Users will not be able to enter future dates.

If you do not select this check box, the transfer date is set to the date that the transfer is approved.

Approval Options

8. Determine whether fixed asset manager (iAssets manager) approval is required before applying any self-service transfers.

9. If you select the Require iAssets Manager approval before applying any self-service transfers check box, Oracle iAssets will require approval from the fixed asset manager. The fixed asset manager can review the transfer lines from the iAssets Manager Responsibility and change the request status.

If you do not select the check box, after management approval, all transfer lines will be transferred to Oracle Assets with a status of Post.

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10. Determine the approval type that will be required for each transfer request.

Both Releasing and Destination approvals required: If you choose this option, an Approver field appears for each asset selected for transfer on both the releasing and destination information pages. Both these fields are required. This option is the default approval type.

No approvals required: If you choose this option, all transfer requests are automatically approved.

Only Destination approvals required: If you choose this option, no Approver field will be displayed on the releasing information page. The Approver field will appear on the destination information page.

Only Releasing approvals required: If you choose this option, the Releasing Approver field is required. No Approver field will be displayed on the destination information page.

11. Determine the approval method that will be required for each transfer request.

Cost Center–based approvals: If you choose this option, the default approver will be the cost center manager.

Management hierarchy–based approvals: If you choose this option, the default approver will be based on the employee hierarchy relationship. The employee is the person for whom the transfer is requested. The approver defaults to the user who logs in. This option is the default approval method.

Security Options:

12. Choose the accounting segments that will be displayed throughout Oracle iAssets.

13. Select the Enforce Security by Cost Center check box to allow users to view and perform transactions only on assets in their cost center.

If you do not select this check box, users will be able to view and perform transactions on assets in all cost centers.

Search Options:

14. Determine whether users will be restricted to search only their own requests.

If you select the Restrict users to only search for their saved requests check box, users will be able to search only their saved requests. If this check box is not selected, users will be able to query all the requests on the system.

Custom Options:

15. Determine whether you want to add any company–specific instructions that users need to follow before submitting a transfer. To add these instructions, you need to select the Enable custom text input check box and enter the company–specific information in the Custom Text

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box. This text is visible in the content container on the Create Transfer Request: Request Details page.

16. (B) Finish.

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Guided Demonstration - Create a Tax Asset Book


(N) Setup > Asset System > Book Controls

1. Enter Book Name of DEMO TAX BOOK.

2. Change the Class to Tax.

3. Description should also be DEMO TAX BOOK.

4. Associated Corporate Book is OPS CORP.

5. For GL Set of Books, accept Vision Operations.

6. For both Depreciation and Prorate Calendar, choose Monthly from the LOV.

7. Current Period should be DEC-YY (use your own preferred year but it should be a closed year in the OPS CORP Book in order to perform an Initial Mass Copy later).

8. Leave the Divide Depreciation field as is and let the Last Run Date for depreciation be the default of today’s date.

9. Tab through the remaining fields in the Calendar region or click the Accounting Rules tab.

10. Select the Allow Amortized Changes and Allow Mass Changes check boxes. Note that the default for these check boxes is deselected.

11. Accept the defaults for the Allow Revaluations section.

12. In the Tax Rules section, select the Allow Reserve Adjustments and the Allow Expense Ceilings check boxes.

13. Select the Allow Mass Copy check box and accept the default values displayed.

14. Tab through the remaining fields of the Accounting Rules region or click the Natural Accounts tab.

15. Enter the following Natural Account values: Gain Loss Clearing



Net Book Value Retired

7854 7855


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16. (I) Save.

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Practice - Define a Tax Asset Book

Overview

In this Practice, you define a tax asset book.

Assumptions

• If you are not attending training at an Oracle University center or Authorized Partner Education Center, you must have access to an Oracle Application Vision database or a comparable training test instance on which to complete this Practice.


• Replace XX in the Practice with a unique identifier such as your initials or a number. (For Instructor-Led Training classes, this number is assigned to you). This is necessary in order to create unique records within the database when performing the Practice.

• Replace the year references of YYYY and YY with the calendar year of your choice or as directed by the Instructor (for example, 2002 or Jan-02). Keep in mind that some transactions require calendar dates and calendar periods to be defined and enabled in order to be processed.


Tasks

Enter Book Header and Calendar Regions Information

Go to the Book Controls form and enter the following Asset Book header and Calendar region data:

Field Name Value

Name (YYY represents your initials) YYY_TAX BOOK

Class Tax

Description (YYY represents your initials)

YYY_TAX BOOK

Associated Corporate Book OPS CORP

Ledger Vision Operations

Allow GL Posting No (deselected)



Current Period Dec-YY

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Field Name Value

Divide Depreciation (Accept default)

Depreciate if Retired in First Year (Accept default)

Last Depreciation Run (Accept default)

Enter Accounting Rules Region Information

Enter the following data in the Accounting Rules region: Field Name Value

Allow Amortized Changes Yes (Select)

Allow Mass Changes Yes (Select)

Create Intercompany Balancing Entries

Yes (Select)

Allow Revaluations (Accept default)

Enter Natural Accounts Region Information

Enter the following data in the Natural Accounts region: Gain Loss Clearing



Net Book Value Retired 7854 7855






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Enter Tax Rules Region Information

Enter the following data in the Tax Rules region: Field Name Value

Allow Reserve Adjustments Yes (Select)

Allow Mass Copy Yes (Select)

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Solution: Define a Tax Asset Book

Enter Book Header and Calendar Regions Information

1. Navigate to the Book Controls form.

(N) Setup > Asset System > Book Controls.

2. Enter the Book Controls Header and Calendar Regions data per Task instruction.

Enter Accounting Rules Region Information

3. Tab through all the fields of the Calendar region or click the Accounting Rules tab.

4. Enter the Accounting Rules region data per Task instruction.

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Enter Natural Accounts Region Information

5. Tab through all the fields of the Accounting Rules region or click the Natural Accounts tab.

6. Enter the Natural Accounts region data per Task instruction.

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Enter Tax Rules Region Information

7. Enter the Tax Rules region data per Task instruction.

8. (I) Save.

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Guided Demonstration - Add Asset Categories to Tax Book


(N) Setup > Asset System > Asset Categories

1. In the Asset Categories form, go into query mode, and retrieve the existing BUILDING-OFFICE asset category.

2. After the record is retrieved, click in the Book field.

3. (I) New.

4. From the LOV, select DEMO TAX BOOK for the Book field.

5. Enter the following GL Accounts data: Asset Cost 01-000-1520-0000-000

Asset Clearing 01-000-1570-0000-000



Bonus Expense 01-000-7320-0000-000

Bonus Reserve 01-000-1620-0000-000




Life Years 30

Life Months 0

Prorate Convention MONTH

Retirement Convention MONTH

8. (I) Save.

9. Close the Default Depreciation Rules form.

10. Back in the Asset Categories form, click in the Category field, enter query mode, and retrieve the VEHICLE-OWNED STANDARD category.

11. After the record is retrieved, click in the Book field.

12. (I) New.

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13. From the LOV, select DEMO TAX BOOK for the Book field.

14. Enter the following GL Accounts data: Asset Cost 01-000-1550-0000-000

Asset Clearing 01-000-1570-0000-000



Bonus Expense 01-000-7350-0000-000

Bonus Reserve 01-000-1650-0000-000




Life Years 5

Life Months 0

Prorate Convention FOL-MONTH

Retirement Convention FOL-MONTH

17. (I) Save.

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Practice - Add Asset Categories to a Tax Book

Overview

In this practice, you add three asset categories to the YYY_TAX BOOK that you defined in the previous practice.

Assumptions






Tasks

Assign Asset Categories to the YYYTAX BOOK

To perform a mass copy from the OPS CORP asset book to the YYY_TAX BOOK later, you need to add the following existing asset categories to the YYY_TAX BOOK. The asset categories and their applicable data are as follows:

Field Name Asset Category 1 Asset Category 2 Asset Category 3

Category Name COMPUTER-PC VEHICLE-OWNED HEAVY

BUILDING-OFFICE

Asset Cost 01-000-1560-0000-000 01-000-1550-0000-000 01-000-1520-0000-000

Asset Clearing 01-000-1570-0000-000 01-000-1570-0000-000 01-000-1570-0000-000

Depreciation Expense Segment

01-000-7360-0000-000 01-000-7350-0000-000 01-000-7320-0000-000

Accumulated Depreciation

01-000-1660-0000-000 01-000-1650-0000-000 01-000-1620-0000-000

Bonus Expense 01-000-7360-0000-000 01-000-7350-0000-000 01-000-7320-0000-000

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Bonus Reserve 01-000-1660-0000-000 01-000-1650-0000-000 01-000-1620-0000-000

Method MACRS HY MACRS HY MACRS STL HY

Life Years 5 10 40

Life Months 0 0 0

Prorate Convention HALF-YEAR HALF-YEAR HALF-YEAR

Retirement Convention

HALF-YEAR HALF-YEAR HALF-YEAR

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Solution: Add Asset Categories to a Tax Book

Assign Asset Categories to the YYY_TAX BOOK


1. Navigate to the Asset Categories form:


2. In the Asset Categories form, start query mode (F11) and enter COMPUTER-PC in the Category field. Execute the query (CTRL+F11).

3. Place the cursor in the Book field and click (B) New from the toolbar.

4. From the List of Values for the Book field, choose YYY_TAX BOOK.

5. Enter the GL Accounts data as requested.

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6. Click (B) Default Rules.

7. Enter the default depreciation rules as requested.

8. Save your work and close the Default Depreciation Rules form.

9. Back in the Asset Categories form, click in the Category field, enter query mode (F11), and retrieve the VEHICLE-OWNED HEAVY category.

10. After the record is retrieved, click in the Book field and click (B) New.

11. From the List of Values, choose YYYTAX BOOK for the Book field.

12. Enter the GL Account and Default Rules information as requested.

13. When finished, save your work and close the Default Depreciation Rules form.

14. Back in the Asset Categories form, click in the Category field, enter query mode (F11), and retrieve the BUILDING-OFFICE category.

15. After the record is retrieved, click in the Book field and click (B) New.

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16. From the List of Values, choose YYY_TAX BOOK for the Book field.

17. Enter the GL Account and Default Rules information as requested.

18. When finished, save your work and close the Default Depreciation Rules form.

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Guided Demonstration - Perform an Initial Mass Copy


(N) Tax > Initial Mass Copy

1. In the Submit Request form, enter DEMO TAX BOOK as the lone parameter.

2. (B) Submit.

3. Navigate to the View Requests form and click (B) View Output.

4. Review the results of the Initial Mass Copy.

Note that there are assets that have the message “This asset’s category is not set up for this tax book” on the report. This is because you assigned only a few asset categories to DEMO TAX BOOK. There are other categories in the OPS CORP book that you did not set up for DEMO TAX BOOK. They will not copy, causing this message to display.

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Practice - Perform an Initial Mass Copy

Overview

In this practice, you perform an Initial Mass Copy of assets from the OPS CORP Book to the XX_TAX Book that you previously defined.

Assumptions






Tasks

Perform an Initial Mass Copy for the YYY_TAX Book

You need to copy assets from the OPS CORP book to the YYY_TAX Book for the categories that you assigned to this tax book in a previous practice. O

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Solution: Perform an Initial Mass Copy

Perform an Initial Mass Copy for the YYY_TAX Book


1. Navigate to the Initial Mass Copy submission form:

• (N) Tax > Initial Mass Copy.

2. Enter YYY_TAX BOOK as the parameter for the request. Click (B) Submit.

3. Navigate to the View Requests form:


4. For the Initial Mass Copy request line, click (B) View Output. O

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5. View the results of the Initial Mass Copy. Note that there are assets that have the message “This asset’s category is not set up for this tax book” on the report. This is because you only assigned a few asset categories to the YYY_TAX BOOK. Assets in the OPS CORP book in categories other than what you set up for YYY_TAX BOOK are not copied, therefore this message.

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Guided Demonstration - Manually Add an Asset to a Tax Book



1. From the Assets form, find asset number 100111.

2. (B) Books.

3. In the Book field, select OPS FEDERAL from the LOV.

4. Tab to or click in the Current Cost field.

5. Change the Depreciation Life to 7 years 0 months.

6. (B) Done.

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Practice - Manually Add an Asset to a Tax Book

Overview

In this practice, you add a new asset using QuickAdditions, and then manually add that asset to the OPS FEDERAL tax asset book.

Assumptions






Tasks


You need to add a new asset using QuickAdditions to the OPS CORP book with the following data:

Field Name Value

Description Brand New BMW

Tag Number XX_BMW

Category VEHICLE-OWNED LUXURY

Book OPS CORP

Cost 32,000

Expense Account 01-120-7350-0000-000


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Manually Add the BMW to a Tax Book

You need to manually add the Brand New BMW to the OPS FEDERAL book and change the depreciation method to MACRS HY with a 5-year life.

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Solution: Manually Add an Asset to a Tax Book



1. Navigate to the Asset Workbench:


2. Enter a new asset using the following data: Field Name Value

Description Brand New BMW

Tag Number XX_BMW

Category VEHICLE-OWNED LUXURY

Book OPS CORP

Cost 32,000

Expense Account 01-120-7350-0000-000


3. Click (B) Done.

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Manually Add the BMW to a Tax Book

4. From the Assets form, click (I) Find.

5. In the Find Assets form, enter either the asset number or tag number (XX_BMW).

6. Enter OPS CORP in the Book field and click (B) Find.

7. Back in the Assets form with the BMW now displayed, click (B) Books.

8. Choose OPS FEDERAL from the list of values for the Book field.

9. Tab to or click in the Current Cost field. The asset information should now be displayed.

10. Change the depreciation method to MACRS HY with a life of 5 Years 0 Months.

11. Click (B) Done.

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Guided Demonstration -Adjust Depreciation Reserve


(N) Tax > Tax Workbench


2. (B) Reserve Adjustments.

3. In the Tax Reserve Adjustment form, enter the following data: Field Name Value

Book OPS FEDERAL

Comments Audit Results

Fiscal Year 2000

New Fiscal Year Depreciation 2,000,000

4. (B) Done.

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r12.x oracle asset management fundamentals...

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