Overview of Assets Added Upon Receipt

You can capitalize and place fixed assets with a destination type of Expense in service as soon as they're received.

When you place these types of assets in service, it initiates the process of recognizing depreciation expense at once and eliminates the delays involved in invoice processing.

In addition, you can optionally create a maintenance asset for these receipts and automatically establish a relationship with the corresponding fixed asset without any manual intervention. You create a maintenance asset in Oracle Fusion Cloud Maintenance, which is part of Oracle Cloud Supply Chain Management (SCM). Note that Oracle Maintenance creates multiple assets for serialized items.

After accounting for the receipt of an asset, transfer the estimated costs from the receipt to Oracle Assets using the Transfer Receipts to Mass Additions process. This process:

• Transfers the assets to the corporate book associated with the inventory organization using the receipt date of the goods as the in-service date.
• Populates the category based on the category provided in the Purchase tab in the Create Item page.
• Populates the asset location automatically if your asset location is mapped to your ship-to location.
• Transfers the serial number from the receipt to the fixed asset.

After you enter and account for the invoice matched to either the purchase order or the receipt, the application posts the freight, miscellaneous, tax, invoice price variance, exchange rate variance, and tax invoice price variance from the invoices.

This feature supports Multiple Reporting Currencies and secondary ledgers that have a different currency than the primary ledger. Asset additions in the asset book associated with a secondary ledger or reporting ledger are recorded at the amount at which the receipts were accounted in the secondary ledger in Receiving.