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Note: If you have calculated ACE information already, define the initial period of your ACE book as the last period of the last fiscal year you completed on your previous system. Then load the accumulated depreciation for your ACE assets using the ACE interface and update the ACE book with the information.

Prerequisites

   Create your ACE book using the Book Controls window; define the initial open period on or before the last period in the last tax year beginning before 1990. See: Defining Depreciation Books.

   Set up asset categories for your ACE book with the appropriate depreciation methods, lives, and prorate conventions using the Asset Categories window. See: Setting Up Asset Categories.

   Run the Initial Mass Copy program to copy assets from the corporate book into the ACE book. See: Updating a Tax Book with Assets and Transactions.

   To update the ACE book to the current period:

1. Run the ACE exception reports (ACE Unrecognized Depreciation Method Code Exception Report and the ACE Non-Depreciating Assets Exception Report). See: To run the ACE reports.

The reports evaluate the financial information in your federal tax book as of the end date of the open period in your ACE book and list the assets that Oracle Assets cannot update in the ACE book. Manually update these assets in the federal book according to ACE rules.

2. Run depreciation on your ACE book to close the period. See: Running Depreciation.

3. Run the Populate ACE Interface program to automatically insert information into the ACE conversion table for your assets according to ACE rules. See: To populate the ACE interface table.

4. Run the Update ACE Book program to update the financial information in your ACE book as of the end date of the most recent closed period. Update your ACE book in the first period of a fiscal year, before you enter any transactions. See: To update the ACE book from an interface.

5. Run depreciation and periodic mass copy to update the ACE book to the current period if necessary. To prevent assets added after December 31, 1993 from being copied to your tax book, uncheck Copy Additions after that date in the Book Controls window.

Note: If you run the balances reports for the first period of your ACE book, expect the report to be out of balance. Oracle Assets only updates the accumulated depreciation, not the depreciation expense, when you update an ACE book.

6. Run the ACE Depreciation Comparison Report to review a list of differences in depreciation between your ACE, federal, and AMT books. You can use this information in your tax calculations. See: To run the ACE reports.

   To run the ACE reports:

1. Choose Tax > Adjusted Current Earnings > Run Exception Reports from the Navigator window.

2. In the Parameters window, enter the ACE Book and Federal Book.

3. Choose Submit.

4. Review the reports after the request completes.

   To populate the ACE interface table:

1. Choose Tax > Adjusted Current Earnings > Populate ACE Interface from the Navigator window.

2. In the Parameters window, enter the ACE Book you want to populate. The ACE book must use the same associated corporate book as the federal tax book and the AMT book.

3. Choose Submit.

4. Review the log file after the request completes.

   To update the ACE book from an interface:

1. Choose Tax > Adjusted Current Earnings > Update ACE Book from the Navigator window.

2. In the Parameters window, enter the ACE Book you want to update.

3. Choose Submit.

4. Review the log file after the request completes.

See Also

ACE Reports

About the ACE Interface