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If you use Oracle Projects to build CIP assets, you do not need to create CIP assets in Oracle Assets. For costs that originate in Oracle Payables, you should send CIP costs to Oracle Projects, and capitalized costs to Oracle Assets.

Build capital assets in Oracle Projects

When your CIP asset is built and ready to be placed in service, you can capitalize and send the associated costs as asset lines to Oracle Assets. Oracle Assets places these imported mass addition lines in a holding area, where you can post the capitalized costs to become assets. Now you can begin using and depreciating your assets. You can review detail project transactions associated with the asset lines in both Oracle Projects and Oracle Assets.

Conditions for Project Information to Be Imported

• The actual date in service must fall in the current or a prior Oracle Assets accounting period

• The CIP costs for summarized asset lines must be interfaced to Oracle General Ledger

• The CIP costs for supplier invoice adjustments must be interfaced to Oracle Payables

• A CIP asset must be associated with the asset line

Interface Assets Process

Oracle Assets places the parent mass addition in the POST queue if you completely defined the asset in Oracle Projects, and it is ready for posting. Oracle Assets places the parent mass addition in the NEW queue if the asset definition is not complete; you must enter additional information for the mass addition in the Prepare Mass Additions window, and then update the queue status to POST. You do not need to change the queue status for lines with a status of MERGED.

You can query mass additions by source, project number, and task number in the Mass Additions Summary window. Choose the Project Details button from the Mass Additions window to view detail project information for the mass addition. You can view detail information only for mass additions or assets that have a project number assigned to them. You also can query by source and view project information for the assets created from these mass additions in the Assets, View Assets, Source Lines, View Source Lines, and Tax Workbench windows. You can query by source in the Add to Asset window as well.

See Also

Reviewing Mass Addition Lines

Overview of Capital Projects

Creating and Preparing Asset Lines for Oracle Assets

Creating a Capital Asset in Oracle Projects

Sending Asset Lines to Oracle Assets

Adjusting Assets After Interface

Accounting for CIP and Asset Costs in Oracle Projects and Oracle Assets