Create a Group Asset

This task shows you how to create a group asset in Oracle Assets.

1. Navigate to the Assets landing page.
2. Click the Add Asset panel tab.
3. In the Add Asset dialog box, enter these values:

   Field	Value
   Book	Your corporate book
   Asset Type	Group
   Category	The category appropriate for your group asset
   Description	A description of the group asset
   Cost	This field is disabled for group assets.
   Units	Accept the default value of 1 or enter another value, if appropriate.
   Expense Account	Your expense account
   Location	The location of the group asset

4. Click Next.
5. In the Add Asset page, enter the in-service date. For group assets, you can enter a prior period date placed in service only during the period the asset is added. This date is used to identify the group depreciation start date.
6. In the Descriptive Details section, enter any necessary descriptive details. For group assets, these fields are disabled:
   • Parent Asset Number: You can't assign group or member assets as parent or child assets.
   • In physical inventory checkbox: Physical inventory isn't supported for group assets.
7. In the Assignments section, add any necessary assignments, such as the distribution set and employee number.
   Note: For a group asset with multiple distribution lines, you can specify different balancing segment values only if you enabled the Allow intercompany member option in the Edit Book page.
8. In the Financial Details section on the General tab, enter these values:

   Field	Value
   Salvage Value Type	Calculate the salvage value for a group asset using one of these methods: Percent: The salvage value is calculated as a percentage of the group asset cost, as shown in this example: Group Asset Salvage Value = Group Asset Cost * Group Asset Salvage Value Percentage Sum of member asset: The group asset salvage value is the total of all member asset salvage values.
   Salvage Value Amount	This field is populated automatically when you choose Sum of member asset as the salvage value type.
   Salvage Value Percent	Enter a salvage value percentage for the group asset. Note: This field applies only when you select Percent as the salvage value type.
   Depreciation Method	If necessary, override the default value and enter the depreciation method and associated information, such as the life in years and months. Units of Production methods aren't allowed for group or member assets. Note: If you set the Over Depreciate field in the Group Asset Rules tab to Allow and Depreciate, you can't select straight line, table-based, formula-based, or flat-rate depreciation methods. If you set the Over Depreciate field to Allow, you can't select straight line and table-based depreciation methods.
   Depreciate checkbox	Enable this checkbox if you want your group asset to depreciate. If the Depreciate checkbox isn't enabled, depreciation won't be calculated for the group asset.
   Prorate Convention	This field displays the defaulted value entered in the Create or Edit Category page. You can change it, if necessary.
   Prorate Date	This field displays the depreciation start date of the group asset, which is the same as the date placed in service of the group asset.
   YTD Depreciation	Enter the year-to-date depreciation for the group asset. You can only update this field during the period the group asset is added, and if at least one member asset is assigned to the group asset.

9. In the Advance rules tab, optionally enter the Depreciation Limit Type. There are three depreciation limit options for the group asset:

   • None: No depreciation limit is set up for the group asset.
   • Percent: Depreciation limit is calculated as a percentage of the group asset cost. When using this option: Group asset depreciation limit = Group asset cost * depreciation limit percentage
   • Sum of member asset: Group asset depreciation limit is the sum of the member asset’s depreciation limit.
10. In the Group Asset Rules tab, specify your group asset rules. See the Specify Group Asset Rules topic for details on defining group asset rules.
11. Click Submit.