Placing Construction-In-Process (CIP) Assets in Service
Capitalize finished assets that are ready to be placed in service. You can capitalize a single asset or a group of assets in a transaction. If you erroneously capitalize a CIP asset, you can reverse the capitalization.
Prerequisites
Create CIP assets using Mass Additions or manual additions. See: Mass Additions.
Build CIP assets as you spend money for raw materials and labor to construct them.
To capitalize a CIP asset:
1. Navigate to the Capitalize CIP Assets window.
2. Find assets with asset type CIP.
3. Enter the date you placed the asset in service. Oracle Assets uses this date to begin calculating depreciation for the assets you are placing in service.
4. Choose the CIP asset(s) you want to capitalize. Choose Special, Check All if you want to capitalize all the assets in the Capitalize CIP Assets window.
To reverse capitalize an asset:
1. Navigate to the Capitalize CIP Assets window.
2. Query assets with type Capitalized.
3. Choose the asset(s) you want to reverse capitalize. Choose Special, Check All to reverse capitalize all the assets in the Capitalize CIP Assets window.
Attention: You can reverse capitalize an asset only in the period you capitalized it, and only if you did not perform any transactions on it.
See Also
Construction-In-Process (CIP) Assets
CIP Reports
CIP Transactions
Capitalization Journal Entry Example
