Changing Financial and Depreciation Information
Correct an error or update financial and depreciation information for a single asset or a group of assets. You can also override depreciation information for an asset while adding it using the Detail Additions process. See: Asset Setup Processes (Additions).
Before running depreciation (in the period in which you added the asset), you can change any field.
After you have run depreciation (in any period after the one in which you added the asset), you can change asset cost, salvage value, prorate convention, depreciation method, life, capacity and unit of measure (in the corporate book), rate, bonus rule, depreciation ceiling, and revaluation ceiling.
If the asset is fully reserved, you can adjust the same fields as for an asset for which you have run depreciation. If the asset is fully retired, you cannot change any fields.
You can choose whether to amortize or expense the adjustment. See: Amortized and Expensed Adjustments.
Changing financial information for a single asset
To change financial information for a single asset:
1. Choose Asset > Asset Workbench from the Navigator window.
2. Find the asset for which you want to change financial information.
Suggestion: For best performance, query by asset number or tag number since they are unique values.
4. Choose the Book to which the asset belongs.
5. Choose whether to Amortize Adjustment or expense it in the current period.
6. Enter the new financial information for the asset.
Attention: You can change the depreciation method from units of production to a flat-rate or life-based method if the asset is not depreciating by units of production in any associated tax book.
Attention: You can only change the depreciation method from life-based or flat-rate to units of production in the period you added the asset.
Changing financial information for a group of assets (Mass Change)
Note: CIP assets, retired assets, and assets with amortized adjustments are excluded from the mass change transaction.
To change financial information for a GROUP of assets
1. Choose Mass Transactions > Changes from the Navigator window.
2. Enter the Book to which the assets belong.
3. Select the assets you want to change. Specify the asset numbers, dates placed in service, and category for which the Mass Change applies.
You can use the Before and After fields as either information to change or as a selection criterion without changing the information. When you enter the same value for the Before and After fields, the mass change affects only assets that match that information.
4. Choose whether to Change Fully Reserved Assets.
5. Specify the new financial information for these assets in the After column.
6. Choose whether to amortize the adjustment or expense it in the current period.
7. Choose Preview to run the Mass Change Preview report. Use this report to preview what effects to expect from the Mass Change before you perform it. If necessary, update the definition and run the preview report again.
The mass change status determines what action to perform next.
9. To review a completed mass change, query the definition and choose Review. Oracle Assets runs the Mass Change Review report.
10. Review the log file and report after the request completes.
See Also
Depreciation Rules (Books)
Journal Entries for Adjustments
Recoverable Cost Adjustments
Amortized and Expensed Adjustments
Adjustments Reports
Depreciation Calculation
Mass Change Preview and Review Reports
Assets Depreciating Under Units of Production
Defining Additional Depreciation Methods