Asset Register Report ERP CLOUD Oracle Financials for EMEA Table of Contents 1. Purpose of the document 2 2. Assumptions and Prerequisites 2 3. Feature Specific Setup 3 Implementation 3 Create Asset Book 3 Categories 4 4. Asset Transactions 6 Asset Additions 6 5. Submitting the Reports 11 Report Run 1: Run Asset Register for period prior to new additions (All assets) 12 Report Run 2: Run Asset Register for the period with Additions (All assets) 16 Report Run 3: Run Asset Register for Major Category or Cost Account 17 Report Run 4: Run Asset Register for Major-Minor Category Combination 19 Report Run 5: Run Asset Register for period with all Transactions (All assets) 21 Report Run 6: Run Asset Register for Assets with Supplier Invoice Information 24 6. Statutory Header for Italy 25 1
1. Purpose of the document This document explains the implementation and usage guidelines for the following report: Asset Register Report The Asset Register Report provides a comprehensive list of all your assets, asset balances, and asset transactions. The report also tracks the correct value of assets, which helps you compute depreciation for tax and insurance purposes. Asset Register Report produces two outputs at submission: Asset Information and Retirements. 2. Assumptions and Prerequisites In this document, the following entities are assumed to have already been set up: Data Security Refer to the Fusion Security topical essay available on cloud.oracle.com Enterprise Structure Corporate Asset Book Asset Flexfield Structure including Asset Category and Asset Flexfield Segment Values Oracle Payables System Options Supplier Sites Procurement Business Function Common Options for Payables It is recommended that the Implementation Project is complete for your organization before entering asset transactions and using the Asset Register Report. If you require further details, refer to the Analyze and Report section of Oracle Financials Cloud (Get Started) web site. 2
3. Feature Specific Setup Implementation We will consider a basic assets implementation with one corporate book. Create Asset Book An asset can belong to corporate and tax books. You can run Asset Register with both book classes. An asset can belong to any number of books, but must belong to only one corporate depreciation book. An asset can have different financial information in each book. For example, asset cost in tax book can be different from the cost in financial reporting book. Define an asset book with class Corporate. Specify for which ledger your depreciation book creates journal entries. Corporate Book: IT_2CORP Ledger: SSC Italy Task name: Manage Asset Books Navigation : Navigator > Setup and Maintenance -> Manage Asset Books 3
Categories Associate categories to the new book. Task name: Manage Asset Categories Navigation : Navigator > Setup and Maintenance -> Manage Asset Categories 4
Following table shows the categories that will be assigned to the asset book defined above. Asset Life in Years Major Category Minor Category Depreciate Depreciation Method Prorate Convention Retirement Convention COMPUTER PC YES STL 2 MID-MONTH MID-MONTH FURNITURE DESKS YES STL 1 FOL-MONTH FOL-MONTH VEHICLE OWNED STANDARD YES STL 4 FOL-MONTH FOL-MONTH FURNITURE OFFICE YES STL 3 MONTH MONTH TOOLS MACHINE MP YES STL 3 MONTH MONTH STL: Straight-Line Method Prorate Convention: Oracle Assets uses the prorate convention to determine how much depreciation to take in the first and last years of asset life. Assets determines the prorate date from the date placed in service and the prorate convention. It uses this date to determine how much depreciation to take during the first and last years of asset life. For assets using the straight-line method, depreciation starts in the first accounting period that the prorate date falls into. Retirement Convention: Assets lets you use a different prorate convention when you retire an asset than when you added it. The retirement convention for a retirement defaults from the Asset Category. If you are retiring an asset before it is fully reserved, you must enter the Retirement Convention. 5
4. Asset Transactions Asset Additions Manually add or import assets. Currently open depreciation period is 07-06. We will add a number of assets manually with date placed in service in July 2006. Assets in IT_2CORP Task name: Add Asset Navigation : Navigator > Fixed Assets ->Additions -> Add Asset The following view shows assets added effectively in July 2006. Five assets have dates placed in service in July 2006. Other assets (marked) have dates placed in service in prior years. 6
First depreciation is run for 07-06. Task name: Calculate Depreciation Navigation : Navigator > Fixed Assets ->Financial Transactions-> Depreciation CalculateDepreciation 7
Other Asset Transactions Final depreciation is run for 07-06 closing this period. Following transactions are performed in 08-06: Retirements (Full, Partial) Task name: Retire Asset Navigation : Navigator > Fixed Assets ->Retirements ->Retire Assets 8
Adjustments Task name: Manage Financial Transactions Navigation : Navigator > Fixed Assets ->Financial Transactions-> Manage Financial Transactions You can use Asset Transactions Inquiry to view all transactions. Task name: Inquire Transactions Navigation : Navigator > Fixed Assets ->Financial Transactions-> Inquire-> Transactions Run Depreciation 9
Run Depreciation for 08-06 after completing the above transactions. 10
5. Submitting the Reports This section shows sample submissions and the respective report outputs. Navigation: Navigator > Tools -> Scheduled Processes 11
Report Parameters: Parameter Name Required Default Description Asset Book Yes N/A Enter asset book for asset register. From Period Yes N/A Enter starting period of the reporting period range. To Period Yes N/A Enter ending period of the reporting period range. Major Category No N/A Enter major category, for example COMPUTER. Minor Category No N/A Enter minor category, for example PC. Asset Cost Account No N/A Enter asset cost account. You can have multiple major categories that share the same asset cost account. Statutory Legal Entity No N/A Please refer to Statutory Header for Italy section. Report Run 1: Run Asset Register for period prior to new additions (All assets) Print Asset Register for 06-06. The output will show the assets with effective periods prior to 07-06. All assets existing in the system as of this period are printed grouped under their respective categories and years placed in service. (Cover Page) 12
Report Output : 13
--- Asset Register lines for other categories 14
--- 15
Report Run 2: Run Asset Register for the period with Additions (All assets) Print Asset Register for 07-06. The output will also show the assets with effective periods 07-06. Transaction details for additions in 07-06 are listed along with the asset information. Report Output : 16
Report Run 3: Run Asset Register for Major Category or Cost Account Use the category and account filters to see a limited set of assets and categories (1) Filter by Major Category (2) Filter by Cost Account Cost Account 15140 is associated to FURNITURE major category. Report Output : 17
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Report Run 4: Run Asset Register for Major-Minor Category Combination Filter by Category combination: TOOLS-MACHINE MP Report Output : (Parameters are shown on the Cover Page) 19
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Report Run 5: Run Asset Register for period with all Transactions (All assets) Period From/To: 08-06 Report Output: In this case we will be able to see data in both templates: Asset Information and Retirements. 1. Asset Information Output shows asset information as well as all transactions in and prior to 08-06 in the financial year 2006. Transactions in 08-06: 21
A ll transactions (ADDITIONS in our case) from the start of the Financial Year (Jan-2006): For example, if we run the report for the period 01-06, the report will not show asset transactions in July and August, since these transactions are not effective (Book values have not changed) as of Jan-06. However for any period range that includes July and August, for example Period From/To: 09 to 12-06, the transactions in July and August will be listed since these transactions belong to the same financial year. 2. Retirements Report In 08-06 there are retirements. Details of these retirements are also reflected in the additional template: Retirements Report. 22
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Report Run 6: Run Asset Register for Assets with Supplier Invoice Information If the asset purchasing information is recorded in assets system, the report shows this information as shown in the example below: 24
6. Statutory Header for Italy Parameter Statutory Legal Entity is optional. For Italy, statutory headings should be printed on report page headings. If we select the relevant legal entity for this parameter, the report pages will be printed with statutory page headings. 25
Report Output (Page Headings): 26
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