Capital Projects Processing
Capital projects are used to manage capital asset costs and retirement costs. You can create capital assets to accumulate costs for fixed assets that are being built, installed, or acquired.
Additionally, you can create retirement adjustment assets to collect cost of removal and proceeds of sale amounts associated with assets that are being retired, removed, abandoned or otherwise deposed.
After you create assets for a project, you can assign assets either at the project level or task level. You can explicitly assign an asset to a level or collect costs common to all assets at the grouping level. Classify transactions either as construction-in-progress costs or retirement work-in-progress costs. Optionally, classify tasks as noncapitalizable to capture and expense these costs. Capturing both capitalizable and noncapitalizable costs provides you with the total cost of your project.
Calculate simple or compound interest on either the total construction-in-progress amount or the open construction-in-progress amount. Place the asset in service when it is ready to use. Generate asset lines from the construction-in-progress costs and then transfer the asset lines to Oracle Fusion Assets. If a project has more than one capital asset, then place each asset in service when it is completed. If the event processing method is periodic or manual, then you can create events to group costs and assets.
The assets are grouped based on their actual in-service date, while the costs are grouped based on its transaction date. Summary asset lines are generated by grouping the transactions based on the asset line grouping method. Review the summary asset lines and transfer them to Oracle Fusion Assets. To create actual assets, post them in the asset book, and then update them with the asset period details from Oracle Fusion Assets.
You can retire the asset when you are ready to take it out of service. Capture the cost of removal and proceeds of sale from the retiring asset and then send to Oracle Fusion Assets. Post them as adjustments to the accumulated depreciation account of the group asset that corresponds to the retiring asset.
- Can I delete an asset or asset assignment from the Create and Assign Assets ADFdi workbook?
- Can I update an asset assignment in the Create and Assign Assets ADFdi workbook?
- Can I assign an asset to multiple tasks in the Create and Assign Assets ADFdi workbook?
- Can I update the asset or project name in the Create and Assign Assets ADFdi workbook?