Charge Labor, Expense Reports, Usages, and Miscellaneous Transactions
You enter labor, expense reports, asset usage, and miscellaneous transactions for your capital project in Oracle Projects. The Distribute Labor, Expense Report, and Usage and Miscellaneous Costs processes charge the capital project costs to a CIP account in Oracle General Ledger. Your AutoAccounting setup determines these accounts. Oracle Projects is the subsidiary ledger for your CIP accounts in General Ledger. You can review the details for your CIP accounts by querying your capital projects in Oracle Projects.
Place CIP Assets in Service
You enter a date placed in service for the CIP assets that are completed for a capital project. Then, you can run the Generate Asset Lines process, which uses the grouping method and levels you define to summarize all costs (supplier invoice, labor, expense reports, usages, and miscellaneous transactions) into asset lines. You associate these asset lines with one or more assets and send the lines to Oracle Assets to become fixed assets.
Create Fixed Assets from Capital Projects
You run the Interface Assets process to send asset lines from Oracle Projects to Oracle Assets. This process merges the asset lines into one mass addition line for each asset. The mass addition line appears in the Prepare Mass Additions Summary window in Oracle Assets as a merged parent with a description identical to the one you entered in Oracle Projects and a cost amount of zero. The lines have a status of MERGED.
For example, you would see the following lines in Oracle Assets for an asset interfaced from Oracle Projects. When you run the Post Mass Additions process, Oracle Assets assigns the same asset number to these lines.
Oracle Assets places the 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 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.
Use the Post Mass Additions process to create fixed assets from your mass addition lines. When you run the Create Journal Entries program, Oracle Assets creates journal entries to the appropriate CIP and asset cost accounts in Oracle General Ledger. For CIP assets, the CIP account comes from the asset lines generated in Oracle Projects and the asset account comes from the asset category associated with the asset.
See Also
Integrating with Oracle General Ledger
Integrating with Oracle Purchasing and Oracle Payables
