Entering Financial Information (Detail Additions Continued) (Oracle Assets Help)


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Entering Financial Information (Detail Additions Continued)

To continue adding your asset using the Detail Additions process, you must enter financial information in the Books window.

You can also use this window to add an asset to a tax book.

Suggestion: You can use Mass Copy to copy groups of assets to a tax book. See: Tax Book Maintenance.

Prerequisites

Adding an Asset Specifying Details (Detail Additions)

Continue Adding your Asset

To enter financial information for a new asset:

1. Assign your asset to a corporate depreciation Book.

2. Enter the current Cost.

Note: If this is a leased asset, and you previously calculated the cost to capitalize for the lease in the Lease Payments window and you have not overriden the result of the capitalization test, Oracle Assets automatically enters the Cost to Capitalize amount in the Current Cost field, and you can change it.

3. Enter the Salvage Value.

4. Specify the asset's Date In Service.

5. Indicate whether you want to Depreciate the asset.

Changing Financial and Depreciation Information.

Assigning an Asset (Detail Additions Continued).

Attention: The Detail Additions process requires you to provide descriptive, financial, and assignment information in the Asset Details, Books, and Assignments windows.

Add an Individual Asset to Your Tax Book

To add an asset to a tax book:

1. Choose Assets:Asset Workbench from the Navigator window.

2. Find the asset you want to add to a tax book.

3. Choose the Books button.

4. Enter the tax Book to which you want to assign the asset and tab to the Current Cost field.

Oracle Assets automatically copies the date placed in service from the corporate book; however, if the date placed in service in the corporate book falls in a future period in the tax book, Oracle Assets defaults the date placed in service for the asset in the tax book to the last day of the current tax period.

5. You can change the financial information defaulted from the corporate book, such as cost, date placed in service, depreciation method, life, rate, prorate convention, ceiling, and bonus rule.