Change Categories

Change the category for assets to update information, correct data entry errors, or when consolidating categories.

While changing the category you can also enter descriptive flexfield information for the new category. You can't change the category for fully retired assets.

When changing categories, consider the impact of the following:

• Journal entries

• Depreciation rules

Journal Entries

When you change the category of an asset in a period after the period you entered it, Oracle Assets creates journal entries to transfer the cost and accumulated depreciation to the asset cost and accumulated depreciation accounts of the new asset category. This occurs when you create journal entries for your general ledger.

Depreciation Rules

Changing the category doesn't default the depreciation rules to the default rules from the new category. You need to manually change the depreciation rules in your books. You can also perform mass adjustments to change the category and the depreciation rules for a large number of assets.