Finishing Your Import
When you have all your asset information moved into Oracle Assets, you need to verify that the financial information matches your records. Once you are satisfied that the value of your assets is correct, you can run depreciation and then verify that the accumulated depreciation matches your records. When you are satisfied that your corporate book is correct, you can copy the assets into your tax books. You reconcile each tax book using a similar procedure.
If some of the assets in the FA_MASS_ADDITIONS table have dates placed in service after the import, you need to bring these assets into Oracle Assets in the correct period.
Complete the following steps to finish your import:
Before you run depreciation you should run the Asset Additions Report. Use this report to verify that each asset has the correct depreciation method, life, and date placed in service. Also verify that each asset has the correct cost and accumulated depreciation and that the totals for each asset account are correct. If you find any errors, make adjustments using the Books window and reclassifications using the Asset Details window.
For additional verification, project depreciation to the asset and cost center level to see that the expense projections agree with your estimates, and that the assets appear properly.
When you are satisfied that your assets are correct, run depreciation for the conversion period. After depreciation completes, Oracle Assets automatically runs the Journal Entry Reserve Ledger report.
3. Reconcile depreciation amounts.
Use the Journal Entry Reserve Ledger Report from Step 2 to verify that the depreciation amounts are correct. If Oracle Assets calculated depreciation for you, verify that the calculated amount is correct. If you find any errors, make adjustments using the Books window and reclassifications using the Asset Details window.
4. Run Mass Additions for post-dated assets.
If necessary, run Mass Additions to add assets into the periods following your import period. Add any other new assets and perform any transactions that you made during the period. Verify all these transactions and run depreciation again. Repeat this procedure until you have caught up to the current period.
5. Copy assets to your tax books using Mass Copy.
When you are satisfied that your corporate book is correct, use Mass Copy to copy your assets into your tax books. You should set up your tax books so that the first period starts at the same time as the associated corporate book. If your import period is the last period of the previous fiscal year, use Initial Mass Copy. If your import is the first period of the current fiscal year, use Periodic Mass Copy since there is no historical data in Oracle Assets.
6. Reconcile your tax books.
Reconcile your tax books the same way you did your corporate book, but use the Tax Reserve Ledger Report in place of the Journal Entry Reserve Ledger Report.
Run Periodic Mass Copy each period to bring over any new assets, cost adjustments, retirements, and reinstatements from the corporate book.
7. Clean up the Mass Additions holding area.
After you have successfully imported a group of assets, you should remove them from the mass additions holding area. First, run the Unposted Mass Additions Report and verify the status of any unposted mass additions. Afterward, use the Delete Mass Additions window, and the Purge Mass Additions window if necessary.
See Also
About the Mass Additions Interface
Planning Your Import
Defining Oracle Assets for Mass Additions
FA_MASS_ADDITIONS Interface Table
Loading Your Asset Data
Importing Your Asset Information
