You're reading...
Assets

Mass Additions process in Fixed Assets

Assets can be created automatically Mass Additions in Oracle Assets from either external sources, Project Accounting (PA), Accounts Payable (AP) i.e. indirectly from Purchasing (PO). Oracle has provided a program named Mass Additions to add assets. The entire process is demonstrated below.

Step 1: Create a Purchase Order

Responsibility: Purchasing responsibility

Navigation: Purchase Orders > Purchase Orders

Create a new PO

Check Org value in PO Shipments

The Organization where we shall receive the goods is NSS.

Check PO Charge Account in PO Distributions

The account, 1737, in the code combination of 11.100.716.1737.0000.000 is set up as an asset account in Oracle.

Note:
You can go the following article to check the type of account. You will find that the account type is Asset.

On the Purchase Order form click on Approve button.

Press OK to send the PO for approval.


Step 2: Receive the goods

Once the PO has been approved we need to receive the goods, i.e. create a Goods Received Note
(GRN).

Responsibility: Purchasing responsibility with receiving functionality

Navigation: Receiving > Receipts

Change organization to NSS and click on OK. The Receipts form opens. Enter the PO value as 412001481.

Click on Find and go to the Receipt lines. Receive all the goods.

Save and close the form.


Step 3: Raise the payables invoice

Now we shall raise a Payables Invoice to pay for the goods we have received.

Responsibility: Payables responsibility

Navigation: Invoices > Entry > Invoices

Enter a new invoice header for the PO.

Click on Match button to match the invoice to the goods received for the PO. Enter the PO number on the form.

Click on Find button and check the box named Match

Click on Match button. Now the PO lines will come into the Invoice distributions. You will be taken back to the Invoice form.

On the invoice form click on Distributions button

Click on Folder > Show Field on the menu

The list of fields will open. Search for the field named, Track as Asset.

Select this field

You will see the field added and you will also see that this field is checked. This is because the account combination has account 1737, which is set up as an asset account in this Oracle instance.

Close Distributions screen and go back to the Invoice form. Click on “Actions… 1” button. You need to select Validate and Force Approval boxes.

Click OK button.

Once the Invoice Status shows Validated and Approval Status shows Manually Approved click on the “Actions… 1” button again.

Click on Create Accounting and click OK. Close the Invoice form.


Step 4: Transfer the accounting details to General Ledger

You need to transfer the accounting to General Ledger.

Responsibility: Payables responsibility

Navigation: View > Requests

Submit a new request, Payables Transfer to General Ledger. Enter the parameters as shown below.

Click on OK button.

Click on Submit button.

Once the program completes check the output

The output mentions that 1 accounting entry for the period Oct-12 has been transferred to General Ledger.


Step 5: Run Mass Additions Create program

We shall now create the entry for the asset. The program named, Mass Additions Create, will be executed. This program will create entries for Asset based invoices in FA.

Responsibility: Assets responsibility

Navigation: View > Requests

Execute a new request

Enter the GL Date and Book

Submit the request. Check the request in the Requests form.

Check the log of the request once it completes

+---------------------------------------------------------------------------+
Start of log messages from FND_FILE
+---------------------------------------------------------------------------+
Parameters:
Book Type Code: EY_CORP
Acctg_date: 2012/10/04 00:00:00
Discount to Expense: N
Primary Accounting Method Accrual
AX is NOT used
Request id: 19097366
User id: 12691
Login id: 21922246
Sob id: 1001
COA id: 50268
GL Acc Seg: 4

Default DPIS enabled: 1
Default DPIS Date:
Include Non Rec Tax in Dist:
Inventory Org Id: 104
Updating AID records to N which EIB sends to FA
No of Records Updated : 0

Processing INSERT_FAMA....
Asset Type : 1=CIP
: 2=ASSET
Account: 1707
Asset Type: 2
No of Records Inserted: 0
Account: 1712
Asset Type: 2
No of Records Inserted: 0
Account: 1717
Asset Type: 2
No of Records Inserted: 0
Account: 1722
Asset Type: 2
No of Records Inserted: 0
Account: 1727
Asset Type: 2
No of Records Inserted: 0
Account: 1732
Asset Type: 2
No of Records Inserted: 0
Account: 1737
Asset Type: 2
No of Records Inserted: 1
Account: 1742
Asset Type: 2
No of Records Inserted: 0
Account: 1747
Asset Type: 2
No of Records Inserted: 0
Account: 1752
Asset Type: 2
No of Records Inserted: 0
Account: 1757
Asset Type: 2
No of Records Inserted: 0
Account: 1762
Asset Type: 2
No of Records Inserted: 0
Account: 1767
Asset Type: 2
No of Records Inserted: 0
Account: 1772
Asset Type: 2
No of Records Inserted: 0
Account: 1861
Asset Type: 1
No of Records Inserted: 0
Account: 1862
Asset Type: 1
No of Records Inserted: 0

Total Capitalised Records Inserted: 1
Updating AP Lines brought over to FA to Y
No of Records Updated : 1
Processing INS_EXPENSE....
Total Expensed Records Inserted: 0
Updating AP Lines brought over to FA to Y
No of Records Updated : 0
Updating Posted AP Asset Lines to N
AX not used CIP exist
No of Records Updated : 0
Updating Posted Non-asset AP Lines to N
No of Records Updated : 0
Grand Total of Records Inserted: 1

+---------------------------------------------------------------------------+
End of log messages from FND_FILE
+---------------------------------------------------------------------------+

The log file mentions that 1 record has been inserted into FA. Also if you check the section for Account 1737 you will find that 1 record has been selected. If you remember, the PO and Invoice distributions have account 1737.


Step 6: Review the data created by Mass Additions

We shall check the Mass Addition Lines that have come through Mass Additions Create program. In this step we shall identify whether some lines should be created as assets or whether certain lines should be split into multiple assets or some lines will be merged into a single asset, etc.

Responsibility: Assets responsibility

Navigation: Mass Additions > Prepare Mass Additions

Enter the PO number, 412001481, that we had created in Step 1.

Click on Find button. The Mass Additions Summary form opens.

Click on Open button

Note that value of Queue. It is set to NEW by the Mass Additions Create program by default. Let us add an employee to this line. Click on Assignments button.

Enter an employee name and expense account

Enter a location. Click on Location list of values.

Enter a location

Click on OK and enter the flexfield information as shown below

Click on OK

Now the Mass Addition Line has been assigned to an employee. Close this screen to go back to the Mass Additions form.

Enter a comment

Save the form. The form will close automatically and you will be taken automatically to the Mass Additions Summary form.

Click on Open again.

Note that the Queue has automatically changed to ON HOLD. This value is set automatically by Oracle when a change has been made to a Mass Addition Line that has a Queue value NEW. Change the Queue to POST. This queue is being set so that this line is picked by Mass Additions Post program to create an asset from the line.

Once the queue is changed to POST the field, Category, becomes mandatory. Click on the Category field.

The Category flexfield opens. Fill up the flexfield.

Click on OK and save the form. The form will close automatically.


Step 7: Create the asset

Responsibility: Assets responsibility

Navigation: Mass Additions > Post Mass Additions

Click on the parameters for Mass Additions Post program.

Enter the book name

Click on OK and submit this request set. We do not need to set the parameters for the 2nd program in the request set, Mass Additions Posting Report, as it will be set automatically by Oracle. Once the request set is submitted the form closes automatically.

Go to View > Requests to find the requests

We see that all the requests have completed,

  1. Mass Additions Post
  2. Mass Additions Posting Report

Check the output of Mass Additions Posting Report.

The report shows that the line has been added as an asset. The asset number as per the report is 37566.


Step 8: Review the Mass Addition Line

Check the Mass Addition Line after Mass Addition Post program has completed

Navigation: Mass Additions > Prepare Mass Additions

Search for the PO: 412001481

Note that the Queue has been changed from POST to POSTED. The buttons, Split, Add to Asset and Merge are disabled. Click on Open button.

The Mass Addition Line has now become read only and cannot be altered as the line has been converted to an asset.

Click on Asset Details tab

You can see the asset number (37566) for this line.


Step 9: Review the created asset

Responsibility: Asset responsibility

Navigation: Assets > Asset Workbench

Enter the asset number as per the previous report, 37566.

Click on Find button

You get to see the asset header. Click on Open.

Asset details are displayed. Close this screen to back to the Assets form.

Click on Financial Inquiry button

Now the financial information for this asset is displayed.


Interface

Assets can also be imported from an external system into Oracle Assets. The asset data needs to be loaded into FA_MASS_ADDITIONS table. This is the interface table for Mass additions. Once the data is loaded into this interface table we can execute the Post Mass Additions request set and follow the process as shown above. If you want to get details about the interface table you can check the following URL.

Cheers!

About these ads

About Abhijit Ray

I love sleeping, watching Hollywood blockbusters, my Wii, road trips and watching my 4 year old son grow up. In between I try to squeeze in some time to go to work.

Discussion

3 thoughts on “Mass Additions process in Fixed Assets

  1. This is very helpful in understanding Oracle FA process. Thanks! Continue to share your knowledge! :-)

    Posted by rose | September 4, 2013, 8:22 pm

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Traffic

Site Stats

  • 510,989 views since Feb 2012

Archives

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 175 other followers

Flags

Free counters!
Follow

Get every new post delivered to your Inbox.

Join 175 other followers

%d bloggers like this: