11i Asset Management Fundamentals Supplemental Practices Stu

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11i Asset ManagementFundamentals SupplementalPractices

Student Guide

Course Code

Edition 1.0

Month Year

Part Number


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Copyright KBACE TECHNOLOGIES INC., 2006. All rights reserved.

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Copyright 2004, Oracle. All rights reserved.

11i Asset Management Fundamentals Supplemental Practices Table of Contentsi

Table of Contents

11i Asset Management Fundamentals Supplemental Practices...................................................................1-111i Asset Management Fundamentals ...........................................................................................................1-2Objectives......................................................................................................................................................1-3

Setup..............................................................................................................................................................1-4Practice - Create a New User (Required)..................................................................................................1-5Asset Controls Setup .....................................................................................................................................1-7

Practice - Create a Location (Required).....................................................................................................1-8Practice - Define Quickcodes (Required) ..................................................................................................1-9Guided Demonstration - Create a Fiscal Year Calendar (Optional) ..........................................................1-10Guided Demonstration - Create a Depreciation Calendar (Optional) ........................................................1-11

Asset Books...................................................................................................................................................1-12Practice - Create a CORP Depreciation Book (Required) .........................................................................1-13Guided Demonstration - Review Security by Book Setup (Required) ......................................................1-16

Asset Categories ............................................................................................................................................1-20Practice - Create Category Values (Required)...........................................................................................1-21Practice - Create Asset Clearing Accounts (Required)..............................................................................1-23Practice - Add Asset Categories to a Corp Book (Required).....................................................................1-25Practice - Verify Assets Added to a Corp Book (Required) ......................................................................1-27

Asset Additions .............................................................................................................................................1-28Practice - Add an Asset Using QuickAddition (Required) ........................................................................1-29Practice - Add an Asset using Detailed Additions (Required)...................................................................1-31Guided Demonstration - Enter Suppliers (Optional) .................................................................................1-33Guided Demonstration - Enter Operating Lease Details (Optional)..........................................................1-34Guided Demonstration - Enter Capital Lease Details (Optional) ..............................................................1-36Guided Demo - Create Invoices from a Capital Lease (Optional) .............................................................1-38Guided Demo - Enter and Assign an Asset Warranty (Optional) ..............................................................1-39

Mass Additions..............................................................................................................................................1-40Practice - Add Assets using Mass Additions (Required)...........................................................................1-41Practice - Merge Tax and Prep into the Server Hardware (Required) .......................................................1-44Practice - Split an Invoice Line into Multiple Assets (Required) ..............................................................1-46

Practice - Add an Invoice Line to an Existing Asset (Required) ...............................................................1-48Practice - Load Assets using ADI (Required)............................................................................................1-51Practice - Run Asset Related Reports (Required)......................................................................................1-53

CIP Asset Additions ......................................................................................................................................1-55Practice - Add CIP Asset Shells (Required) ..............................................................................................1-56Practice - Add Labor to CIP Assets (Required).........................................................................................1-58Practice - Add Invoice Lines to a CIP Asset (Required) ...........................................................................1-59Practice - Capitalize a CIP Asset (Required).............................................................................................1-60

Asset Adjustments.........................................................................................................................................1-61Practice - Reclassify an Asset (Required)..................................................................................................1-62Practice - Adjust Asset Units (Required)...................................................................................................1-63Practice - Adjust Asset Cost (Required)....................................................................................................1-64Practice - Transfer an Asset (Required).....................................................................................................1-65

Practice - Enter a Physical Inventory (Required).......................................................................................1-66Practice - Add Assets for Mass Transactions (Required) ..........................................................................1-69Practice - Mass Reclassify Assets (Required) ...........................................................................................1-73Practice - Mass Transfer Assets (Required)...............................................................................................1-75

Depreciating Assets .......................................................................................................................................1-77Practice - Run Depreciation (Optional) .....................................................................................................1-78Practice - Set up a Depreciation Calendar (Required) ...............................................................................1-79Practice - Set up a Depreciation Method (Required) .................................................................................1-81Practice - Set up a Prorate Convention (Required)....................................................................................1-82


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11i Asset Management Fundamentals Supplemental Practices Table of Contentsii

Practice - Run Depreciation Projections (Required) ..................................................................................1-84Practice - Perform a What-If Analysis (Required).....................................................................................1-85Practice - Project Depreciation for Assets not yet Placed in Service (Required).......................................1-86

Processing Retirements..................................................................................................................................1-88Practice - Partially Retire an Asset (Required)..........................................................................................1-89Practice - Reinstate a Partially Retired Asset (Required) ..........................................................................1-91

Tax Books......................................................................................................................................................1-92Practice - Create a Tax Book (Required)...................................................................................................1-93Practice - Add Categories to a Tax Book (Required) ................................................................................1-96Practice - Verify Categories are Added to your Tax Book (Required)......................................................1-98Practice - Run Initial Mass Copy (Required).............................................................................................1-99


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11i Asset Management Fundamentals Supplemental Practices Table of Contentsiii

Preface

Profile

Before You Begin This Course

Before you begin this course, you should have the following qualifications:

Thorough knowledge of

Working experience with

Prerequisites

There are noprerequisites for this course.

How This Course Is Organized

is an instructor-led course featuring lecture and hands-on exercises. Online

demonstrations and written practice sessions reinforce the concepts and skills introduced.


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11i Asset Management Fundamentals Supplemental Practices Table of Contentsiv

Conventions in Oracle Application Navigation Paths

This course uses simplified navigation paths, such as the following example, to direct you

through Oracle Applications.

Oracle Application

(N) Invoice > Entry > Invoice Batches Summary (M) Query > Find (B) Approve

Oracle Form

The first line in the Box is always the name of the application.

The second line is the path to the form. This simplified path translates to the following:

1. (N) From the Navigator window, select Invoicethen Entrythen Invoice Batches

Summary.

2. (M) From the menu, select Querythen Find.

3. (B) Click the Approvebutton.

Notations:

(N) = Navigator

(M) = Menu

(T) = Tab

(B) = Button

(I) = Icon

(H) = Hyperlink

(ST) = Sub Tab

The last line is always the name of the window that appears on the top left corner of theOracle form.


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Copyright Oracle Corporation, 2003. All rights reserved.

11i Asset Management Fundamentals Supplemental PracticesChapter 1 - Page 1

11i Asset ManagementFundamentals SupplementalPractices

Chapter 1


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11i Asset Management Fundamentals


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Objectives


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Setup

Instructor Prep Notes

Open accounting periods in GL for Vision Operations. The current month shouldcorrespond to the current calendar period.

Open periods in AP. The current month should correspond to the current calendar period.

Sequential Numbering = Not used

Set the Java:Color Scheme profile option to Blue

Verify Responsibility Level, FA: Print Debug = No

Verify Responsibility Level, FA: Print Timing Diagnostics Flag = No

Verify that Invoice Batching is not enabled.

Set Payables Options to default journal import to "Yes", disallow override.

Set Payables Options to send journals to the GL in summary by period.

Disable Lease GUI descriptive flexfield.

Log in as Services/Welcome and add asset 100296 to SVCS FEDERAL book

Add 00_Class

Set the HR:User Type profile option to HR with Payroll User at the Application level


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Practice - Create a New User (Required)

Overview

In this practice you will create a new user.

Assumptions

Replace XX with your terminal number or initials.

You must have access to an Oracle Application Vision database or comparable trainingor test instance at your site on which to complete this practice.

Tasks

Sign on to Oracle Applications

1. Sign on

User Name = operations

Password = welcome

2. Responsibility = System Administrator

Create a New User

3. Add a New User

(N) Security > User > Define

Field Value

User Name XXUSER

Password welcome (Tab, re-enter to verify)

Person Pat Stock (Choose from the list of

values. This might be last name first

or first name last depending on the

version of the form. Choose the Pat

Stock with [email protected]

email address.

Add Responsibilities

4. Add the following responsibilities to your new user:

Responsibility Security


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Assets, Vision Operations Standard

Assets, Vision Services Standard

Fixed Assets Manager Standard

Assets, Vision Project Mfg Standard

General Ledger, Vision Operations Standard

Payables, Vision Operations Standard

Projects, Vision Services Standard

Purchasing, Vision Operations Standard

System Administrator Standard

5. Exit the forms based applications

6. Make the Personal Home Page the active page

7. (L) Logout

Log in with your user

8. Login = XXUser

Note: System will prompt you to create a new Password:

Password = welcome

Old Password = welcome

New Password = XXuser (Tab, re-enter to verify)

9. Responsibility = Assets, Vision Operations


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Asset Controls Setup


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Practice - Create a Location (Required)

Overview

In this practice you will create a new location.

Assumptions



Tasks

Create a New Value


2. Navigate to the Values window

(N) Setup > Financials > Flexfields > Validation > Values

Name = Vision FA Building

3. (B) Find

4. Add XXBLDG200

Enter a location

5. Navigate to the Locations window.

(N) Setup > Asset System > Locations

6. Add the following new location:

Location

USA-CA-LOS ANGELES-XXBLDG200

Note: Valid locations are either set up in advance or dynamic insertion is allowed to create

them as users choose new location combinations. It is FAR more common to set up valid

locations in advance. If valid location combinations are not set up in advance, you shouldset up cross validation rules to prevent bad combinations of segment values.


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Practice - Define Quickcodes (Required)

Overview

In this practice you will create two new Quickcode values.

Assumptions



Tasks

Define QuickCodes

1. Navigate to the QuickCodes window.

(N) Setup > Asset System > QuickCodes

2. Add QuickCodes according to the table below.

Note: you must FIRST query the quickcode, THEN add the value.

Type Value Description

RETIREMENT XXSALE Sale

ASSET DESCRIPTION XXHIGH SPEED COMPUTER High Speed Computer


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Guided Demonstration - Create a Fiscal Year Calendar (Optional)

Responsibility: Assets, Vision Operations (USA)

(N) Setup > Asset System > Fiscal Years

1. Create a new fiscal year

Fiscal Year Name = XXACCOUNTING

Description = Standard Accounting Calendar

From Date = 01-JAN-1850

To Date = 31-DEC-1850

Fiscal Year = 1850

2. Create fiscal years up to the current fiscal year.


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Guided Demonstration - Create a Depreciation Calendar(Optional)


(N) Setup > Asset System > Calendars

1. Create a new calendar

Calendar = XXMonthly

Description = XXMonthly

Fiscal Year Name = XXACCOUNTING

Periods Per Year = 12

2. Create a full year calendar from the prior year through the current year.

Number Name From Date To Date

1 Jan-XX (where XX is LAST year) 01-Jan-20XX 31-Jan-20XX

2 Feb-XX (where XX is LAST year) 01-Feb-20XX 29-Feb-20XX (if this errors, try 28-

Feb-20XX)

Etc Etc Etc Etc

Caution! The period name must match to the corresponding GL Calendar period name (this

is case sensitive) or accounting will not transfer to the General Ledger.

Note: The beginning and end dates are validated against the fiscal year calendar.


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Asset Books


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Practice - Create a CORP Depreciation Book (Required)

Overview

In this practice you will create a new CORP depreciation book.

Assumptions



Tasks

Add a Company to the Operations Company Value Set

1. Navigate to the Segment Values window


Name = Operations Company

2. (B) Find

3. Add a new value according to the following table:

Terminal Value Description

01 51 You choose

02 52 You choose

03 53 You choose

04 54 You choose

05 55 You choose

06 56 You choose

07 57 You choose

08 58 You choose

09 59 You choose

10 60 You choose

11 61 You choose

12 62 You choose


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Create a Corp depreciation book

4. Navigate to the Book Controls window.

(N) Setup > Asset System > Book Controls

5. Enter the given parameters according to the following table:

Field Value

Book XXCORP BOOK

Description XXCORP BOOK

Class Corporate

Associated Corporate Book XXCORP BOOK

6. (T) Calendar

7. Enter information according to the following table:

Field Value

GL Set of Books Vision Operations

Allow GL Posting Yes

Depreciation Calendar Monthly

Prorate Calendar Monthly

Current Period Dec-XX (use LAST

year)Divide Depreciation

(use By Days if you are using a 4-4-5

Calendar)

Evenly

Depreciate if Retired in First Year Yes

8. (T) Accounting Rules

9. Check or leave unchecked the specified check boxes:

Field Value

Allow Amortized Changes Checked

Allow Mass Changes Checked

Allow Revaluations Unchecked


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10. (T) Natural Accounts

11. Use the following information to set up accounts

Account Gain Loss Clearing

Proceeds of Sale 7850 7851 1247

Cost of Removal 7852 7853 2240

Net Book Value Retired 7854 7855 N/A

Reval Reserve Retired 7854 7855 N/A

Field Account

Intercompany Receivables 1810

Intercompany Payables 2370

Deferred Depreciation Reserve 2540

Deferred Depreciation Expense 7860

Depreciation Adjustment 1690

Account Generator Defaults XX-000-9999-0000-000

12. (T) Journal Categories

Journal Source = Assets

13. Enter journal categories according to the following table:

Field - Value Field - ValueAdditions = Addition CIP Additions = CIP Addition

Adjustments = Adjustment CIP Adjustments = CIP Adjustment

Retirements = Retirement CIP Retirements = CIP Retirement

Reclass = Reclass CIP Reclass = CIP Reclassification

Transfers = Transfer CIP Transfers = CIP Transfer

Revaluation = Revaluation Depreciation = Depreciation

Deferred Dep. = Deferred Dep. Dep. Adjustment = Dep. Adj.

14. Save


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Guided Demonstration - Review Security by Book Setup(Required)


(N) Assets > Asset Workbench

1. Review hierarchy setup for Vision Enterprises

Vision Corporate

FA: Vision

Corporation

Vision Operations

FA: Vision

Operations

Vision Services

FA: Vision

Services

Vision, Project Mfg

FA: Vision Project

Mfg

Hierarchy for Security by Book

Can see all

depreciation

books in hierarchy

OPS Corp

OPS Federal

SVCS Corp

SVCS Federal

PRJ Mfg Corp

PRJ Mfg Fed

Userid Password Responsibility Security Profile

corporate welcome Fixed Assets Manager FA: Vision Corporation

operations welcome Assets, Vision Operations FA: Vision Operations

services welcome Assets, Vision Services FA: Vision Services

projmfg welcome Assets, Vision Project Mfg (MRC) FA: Vision Proj Mfg

Verify Security for Corporate

2. Log on as a new user

User Name = corporate

Password = welcome

3. Responsibility = Fixed Assets Manager


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4. Navigate to the Financial Information window.

Inquiry > Financial Information

5. Find asset number 100081

6. (B) Books

7. Verify that asset 100081 can be seen in both the OPS CORP and OPS FEDERAL books.

8. Repeat the inquiry for the following assets.

Book Asset No. Visible?

OPS CORP 100081 Yes

OPS FEDERAL 100081 Yes

SVCS CORP 100132 Yes

SVCS FEDERAL 100296 Yes

Verify Security for Vision Operations

9. Change your user to Operations

User Name = operations

Password = welcome


11. Requery the assets. You will be able to access the following books and assets:


OPS CORP 100081 Yes

OPS FEDERAL 100081 Yes

SVCS CORP 100132 No

SVCS FEDERAL 100296 No

Note: User "operations" has access to the books of Vision Operations and Vision Project Mfg.,

but cannot access the books of Vision Services. Optionally, view a financial information inquiryfor the assets.

Verify Security for Vision Services

12. Change your user to Services

User Name = services

Password = welcome


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13. Search for assets assigned to both the OPS CORP and SVCS CORP books


OPS CORP 100081 No

OPS FEDERAL 100081 No

SVCS CORP 100132 Yes

SVCS FEDERAL 100296 Yes

Review Asset Organization Setup for Vision Operations


15. Navigate to the Organizations window

(N) Setup > Security > Organization > Description

16. Review asset books associated with this responsibility

Review Asset Organization Setup for Vision Services

17. Responsibility = Assets, Vision Services




Review Asset Organization Setup for Vision Project Mfg

20. Responsibility = Assets, Vision Project Mfg




Review the Asset Hierarchy


24. Navigate to the Organization Hierarchy window

(N) Setup > Security > Organization > Hierarchy

25. Query the Assets Hierarchy


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Review the Security Profiles

Security profiles link an asset organization to a responsibility.

26. Navigate to the Security Profile window

(N) Setup > Security > Security

27. Query the following Profiles

Name

FA:Vision Corporate

FA:Vision Operations

FA:Vision Services

FA:Vision Project Mfg

Review the FA: Security Profile Option

Use the Security Profile window to link Profiles to a position in the hierarchy.

28. Responsibility = System Administrator

29. Navigate to the System Profiles window

(N) Profiles > System

30. Query the following responsibilities and view the associated FA: Security profile option


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Asset Categories


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Practice - Create Category Values (Required)

Overview

In this practice you will create category values that will be used in creating a new asset category

combination. The goal is to be able to create category combinations using these values in a laterpractice. The category combinations will have the following form:

Category Combinations

XXCOMPUTER-XXPC

XXCOMPUTER-XXNC

XXCOMPUTER-XXSERVER

XXCOMPUTER-XXNETWORK

Assumptions



Tasks

Create an Independent Value of XXCOMPUTER


(N) Setup > Financial > Flexfields > Validation > Values

Name = Vision FA Major Category

2. (B) Find

Value = XXCOMPUTER

Description = XXComputer

3. Save

Add Dependent Values


(N) Setup > Financial > Flexfields > Validation > Values

Name = Vision FA Minor Category

Independent Value = XXCOMPUTER


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5. (B) Find

6. Add dependent values according to the following table:

Value Description

XXPC PC

XXNC NC

XXSERVER Server

XXNETWORK Network


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Practice - Create Asset Clearing Accounts (Required)

Overview

In this practice you will create asset-clearing accounts that you will use for your categories.

Assumptions



Tasks

Create asset clearing accounts



Name = Operations Account

2. (B) Find

3. Create the value associated with your terminal number based on the following table:


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Practice - Add Asset Categories to a Corp Book (Required)

Overview

In this practice you will add asset categories to a corporate depreciation book.

Assumptions



Tasks

Add Categories to a Corp book

1. Navigate to the Asset Categories window.

(N) Setup > Asset System > Asset Categories

2. Create a new category combination

Category = XXCOMPUTER-XXNETWORK

Description = Computer Network

Property Type = Personal

Property Class = 1245

3. Move the cursor in the Book field

Book = XXCORP BOOK

4. Specify the accounting information according to the following table (In order to enter

Method and Prorate Convention, click on the Default Rules button):

Note: For Revaluation Reserve use XX-000-1670-0000-000

Category Asset

Cost/

*CIP Cost

Asset

Clearing/

*CIP

Clearing

Dep

Exp

Accum Dep Method/

Life

Prorate

Conv

XXCOMPUTER-

XXNETWORK

XX-000-

1560-

0000-000/

XX-000-

1560-

0000-000

XX-000-

XXXX-

0000-000/

XX-000-

XXXX-

0000-000

7360 XX-000-

1660-0000-

000

STL/4 Mid

Month


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5. Query each of the following categories and add them to your asset book.

Note: For Revaluation Reserve use XX-000-1670-0000-000

Category Asset

Cost/

*CIP Cost

Asset

Clearing/

*CIP

Clearing

Dep

Exp

Accum Dep Method/

Life

Prorate

Conv

Building-

Manufacturing

XX-000-

1520-

0000-000

XX-000-

XXXX -

0000-000

7320 XX-000-

1620-0000-

000

STL/30 Mid

Month

Building-Office XX-000-

1520-

0000-000

XX-000-

XXXX -

0000-000

7320 XX-000-

1620-0000-

000

STL/30 Mid

Month

Computer-PC XX-000-1560-

0000-000

XX-000-XXXX -

0000-000

7360 XX-000-1660-0000-

000

STL/4 MidMonth

Vehicle-Leased

Standard

XX-000-

1550-

0000-000

XX-000-

XXXX -

0000-000

7350 XX-000-

1650-0000-

000

STL/4 Mid

Month

Vehicle-Owned

Heavy

XX-000-

1550-

0000-000

XX-000-

XXXX -

0000-000

7350 XX-000-

1650-0000-

000

STL/4 Mid

Month

Vehicle-Owned

Standard

XX-000-

1550-0000-000

XX-000-

XXXX -0000-000

7350 XX-000-

1650-0000-000

STL/4 Mid

Month


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Practice - Verify Assets Added to a Corp Book (Required)

Overview

In this practice you will verify assets added to a Corp Book.

Assumptions



Tasks

Verify all categories are added to the Corp book

1. Navigate to the Submit a New Request window:

(N) Other > Requests > Run

2. (B) Ok to submit a single request

Name = Asset Category Listing

Book Name = XXCORP BOOK

3. Submit the request and monitor it to ensure it completes successfully.

4. Check to ensure all categories you added are in your XXCorp Book.


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Asset Additions


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Practice - Add an Asset Using QuickAddition (Required)

Overview

In this practice, you will add a new asset into the corporate book you created, accepting the

default rules associated with this asset category.

Assumptions



Tasks

Add an asset using Quick Additions

1. Navigate to the QuickAdditions window.

(N) Assets > Assets Workbench

2. (B) QuickAdditions

3. Enter the following information in the respective fields:

Field Value

Description XXCHEVY BLAZER

Tag Number XXCAR

Category VEHICLE-OWNED STANDARD

License plate 687ABC

License renewal date 14-Dec-2004

Book XXCORP BOOK

Cost 20000

Employee Name Adams, Mr. Brian

Expense Account XX-110-7350-0000-000Location USA-CA-SAN FRANCISCO-1

Note: The description field has a list of values associated with it. The values on the list of

values are Quickcodes. You can set up asset descriptions in advance for frequently

purchased assets so that the descriptions can be made more consistent.


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4. (B) Done

5. Note the asset number assigned _______________________________

6. (B) OK

Note: You will see two reference numbers when the asset is added. One is for the addition,

the second is for the assignment.


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Practice - Add an Asset using Detailed Additions (Required)

Overview

In this practice, you will add a new asset into your corporate book, specifying details associated

with this asset category.

Assumptions



Tasks

Add an Asset using Detailed Additions

1. Navigate to the Asset Details window.


2. (B) Additions


Field Value

Description XXOVERHEAD OFFICE BUILDING

Tag Number XXBLDG

Category BUILDING-OFFICE

Insurance company Fidelity

Building size 500000

4. (B) Continue


Field Value

Book XXCORP BOOK

Current Cost 10,000,000

Method STL

Life Years 15


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6. Notice that we can override defaults from the category.

7. (B) Continue


Field Value

Unit Change 1

Expense Account XX-110-7320-0000-000

Location USA-NY-NEW YORK-2

9. (B) Done

10. Note the asset number assigned _______________________

11. (B) OK


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Guided Demonstration - Enter Suppliers (Optional)


(N) Setup > Financials > Suppliers

Enter a Supplier

1. Set up the suppliers by navigating first to the Suppliers Summary window.

(N) Setup > Financials > Suppliers

Supplier Name = XXUPay Less Rentals

2. Save

Enter a Supplier Site

Enter corresponding site information.

Enter a Supplier

3. (M) File > New

Supplier Name = XXMaintenance Services

4. Save


5. Enter corresponding site information.

Enter a Supplier

6. (M) File > New

Supplier Name = XXIBM Corp.

7. Save


8. Enter corresponding site information. This should at lease be a pay site as it will be used in

the lease Lab.


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Guided Demonstration - Enter Operating Lease Details (Optional)


(N) Setup > Asset System > Leases > Lease Payments

1. Enter Payment Schedule information according to the following table:

Field Value

Payment Schedule XXCar Rental

Lease Date 01-Jan-200Y

Interest Rate 12

Compounding Monthly

Present Value Leave Blank

2. Enter payment information according to the following table:

Line Start Date Amount Number Payment Type

1 01-JAN-200Y 450 60 Annuity

Note: Leave the end dates blank. Oracle Assets automatically displays an end date.

Calculate NPV of Lease Payments

3. (B) Calculate

4. Record the present value.

5. Save

6. (B) View Amortization

7. Save

8. (B) Yes to save schedule

9. Close all forms until you are back at the Navigator.

Determine Lease Type

10. Navigate to the Lease Details window

(N) Setup > Asset System > Leases > Lease Details


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Lease Number = XXRental Lease

Description = XXRental Lease

Lessor = XXUPay Less Rentals

Lessor Site = Choose a pay site

Note: The Lease type is currently Operating

Payment Schedule = XXCar Rental

Payment Account = XX-110-7740-0000-000

Note that the Present Value of the lease is filled in.

Fair Value = 32000

11. Save


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Guided Demonstration - Enter Capital Lease Details (Optional)


(N) Setup > Asset System > Leases > Lease Payments

1. Enter Payment Schedule information according to the following table:

Field Value

Payment Schedule XXServer Lease

Lease Date 01-Jan-200Y

Interest Rate 12

Compounding Monthly

Present Value Leave Blank

2. Enter payment information according to the following table:

Line Start Date Amount Number Payment Type

1 01-Jan-200Y 5700 1

2 01-Feb-200Y 1900 60 Annuity

Note: Leave the end dates blank. Oracle Assets automatically displays an end date.

Calculate NPV of Lease Payments

3. (B) Calculate

4. Record the present value.

5. Save

6. (B) View Amortization

7. Save

8. (B) Yes to save schedule

9. Close all forms until you are back at the Navigator.

Determine Lease Type

10. Navigate to the Lease Details window


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(N) Setup > Asset System > Leases > Lease Details

Lease Number = XXServer Lease

Description = XXServer Lease

Lessor = XXIBM Corp

Lessor Site = Choose a pay site

Payment Term = IMMEDIATE

Note: Oracle strongly recommends you use IMMEDIATE as the payment term so when theinvoice is created in Payables, it can be paid right away. If no payment term is specified, the

default from the supplier site will be used and that may cause lease payments to be made

late.

Payment Schedule = XXServer Lease

Payment Account = XX-110-7740-0000-000

Note that the Present Value of the lease is filled in.

Fair Value = 92000

11. Save

Note: The Lease has met the criteria for a Capitalized lease.

Note: Oracle uses SFAS 13 criteria to determine lease type. If any one of the criteria is met,

the lease is a capital lease and the asset must be capitalized and depreciated.

1. Transfer of ownership at end of lease term

2. Lease contains a BPO

3. The lease term is equal to 75% or more of the remaining estimated economic life of the

leased asset at the lease inception.

4. The NPV of the minimum lease payments is at least 90% of the market value of the lease

asset.


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Guided Demo - Create Invoices from a Capital Lease (Optional)


(N) Setup > Asset System > Leases > Lease Payments to Payables

1. Query the lease

2. Select payments to export

3. (B) Export

Import Lease Payments into Payables

4. Responsibility = Payables, Vision Operations

5. Navigate to the Standard Request Submission window


6. (B) Ok to submit a single request

Name = Payables Open Interface Import

Source = Oracle Assets

7. (B) Ok

8. (B) Submit

9. Review report output when the request completes.


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Guided Demo - Enter and Assign an Asset Warranty (Optional)


(N) Setup > Asset System > Warranties

1. Enter information according to the table:

Field Value

Warranty Number XXP2316

Description Vehicle Maintenance

Start Date 01-Jan-20YY (current year)

End Date 31-Jan-20YY (current year)

Currency USD

Cost 150

Supplier Name XXMaintenance Services

2. Save

Assign the warranty to an asset

3. Navigate to the Assets window.


Tag Number = XXCAR

4. (B) Find

5. (B) Open

Warranty Number = XXP2316

6. (B) Done


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Mass Additions


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Practice - Add Assets using Mass Additions (Required)

Overview

In this practice, you will enter invoice lines in Oracle Payables to create data to be used in Oracle

Assets. Invoices entered in Oracle Payables must be approved and sent to Oracle GeneralLedger using the Transfer to the General Ledger program before these can be processed.

Assumptions



Tasks

Add Assets using Mass Additions

1. Switch Responsibilities

(M) File > Switch Responsibility

2. Responsibility = Payables, Vision Operations (USA)

3. Navigate to the Invoices window.

(N) Invoices > Entry > Invoices

4. Enter the following invoice information:

Type Supplier Site Invoice Date Invoice

Number

Amount

Standard Advanced

Network

Devices.

Santa Clara 15-Dec-200Y

Y = last year

XXINV 108000.00

5. (B) Distributions

6. Enter distributions according to the following table:

Line Type Amount Tax Code Account Description

1 Item 4172.00 Blank XX-000-XXXX-0000-000 Tax

2 Item 2828.00 Blank XX-000-XXXX-0000-000 Prep


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3 Item 51000.00 Blank XX-000-XXXX-0000-000 Server Hardware

4 Item 12000.00 Blank XX-000-XXXX-0000-000 Fees

5 Item 24000.00 Blank XX-000-XXXX-0000-000 Laptops

6 Item 2000.00 Blank XX-000-XXXX-0000-000 Battery Backup

7 Item 1200.00 Blank XX-000-XXXX-0000-000 24 Port Hub

8 Item 800.00 Blank XX-000-XXXX-0000-000 Cable

9 Item 10000.00 Blank XX-000-XXXX-0000-000 High Speed Server

7. Save and close the Distributions window.

Validate the Invoice

8. (B) Actions

Validate = Checked

9. (B) OK

Create Accounting for the Invoice

10. (B) Actions

Create Accounting = Checked

11. (B) OK

Note: There are 4 criteria that must be met before an invoice distribution is sent to Fixed

Assets:

The invoice distributions must be coded to an asset clearing account associated with a

valid asset category. In our case that account was XX-000-XXXX-0000-000.

The Track as Asset flag must be selected. This will be done automatically if the naturalaccount was qualified in GL as a type of Asset. In our case, XXXX was associated

with an Account Type of Asset. For expensed items you wish to track in Oracle Assets,

you must manually select the Track as Asset flag.

The invoice distribution must be transferred to GL. Payables Transfer to General

Ledger must have been run and the invoice distribution transferred to General Ledger.

Note that it is NOT necessary to run Journal Import.

The GL Date specified when the Mass Addition Create process includes invoice

distributions on or before the specified date.

Run the Payables Transfer to General Ledger Process



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Name = Payables Transfer to General Ledger

To Date = Last day of current calendar month

Submit Journal Import = Yes

13. (B) Ok

14. (B) Submit

15. Monitor the request until it completes.

Run the Mass Additions Create Process



Name = Mass Additions Create

GL Date =Last day of current calendar month

Book = XXCORP BOOK

17. (B) Submit

18. Do not submit another request


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Practice - Merge Tax and Prep into the Server Hardware(Required)

Overview

The Tax (line 1) and Prep (line 2) lines from your invoice were costs necessary to place theServer Hardware (line 3) into Service. In this practice, you will merge the Tax and Prep linesinto the Server Hardware line.

Hey, the Tax and Prep lines need

to be merged with the Server

Hardware when you prepare mass

additions.

Tax: 4172.00

Prep: 2828.00

Server Hardware:

51000.00

Assumptions



Tasks

Merge Lines Tax and Prep into the Server

1. Navigate to the Prepare Mass Additions form.

(N) Mass Additions > Prepare Mass Additions

2. Query mass additions by your invoice number


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3. Open the Server Hardware line and enter asset information according to the following table:

Field Value

Category COMPUTER-PC


Location USA-CA-SAN FRANCISCO-1

4. Save your work then merge the Tax and Prep lines into the Server Hardware line.

Prepare Line 3 for Posting

5. Change the queue to POST

6. Save

7. Close the Mass Additions Summary window


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Practice - Split an Invoice Line into Multiple Assets (Required)

Overview

Splitting Asset Lines is necessary when one invoice is used to purchase more than one of the

same item and each of those items must have a different asset number. In this practice, you willsplit the Laptop line into 4 different assets.

The 24000 laptop represents 4

laptops. Make sure you split it

during your mass additions

process so 4 separate asset

numbers can be assigned.

24000.00

6000.00

6000.00

6000.00

6000.00

Assumptions



Tasks

Prepare a Mass Addition

1. Find the Laptops line and change the units to 4. Also, prepare the addition based on theinformation in the following table:

Field Value

Category COMPUTER-PC

Description Laptops


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Units 4

2. Complete Distributions according to the following table:

Units Expense Account Location

4 XX-110-7360-0000-000 USA-CA-SAN FRANCISCO-2

Split the Mass Addition

3. Split the laptops into 4 distinct assets.

4. Query the 4 Assets and Change Queue to Post (or query then and use (M) Tools > Post All)


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Practice - Add an Invoice Line to an Existing Asset (Required)

Overview

Adding lines to existing assets may be necessary when more than one invoice representing the

same asset are entered over time. Also, discounts taken on an invoice may not be known at thetime the invoice distribution is sent to Fixed Assets. If the discount comes later, it is treated as acost adjustment to the original asset changing its capitalized cost.

Reasons to perform a cost adjustment

Discounts usually are interfaced to mass additions afterthe initial asset distribution.

AP corrects coding errors by reversing invoice distributions.

Invoice distributions for CIP assets are added after the original asset shell.

Credit or Debit memos added in Payables for returned items.

In this practice, you will add invoice distributions to an existing asset. You will first manuallyadd an asset, and then merge the Battery Backup (line 6) distribution to the asset.

Don't forget that we just bought a

battery backup for one of the

servers. Make sure you use the

Add to Asset functionality while

preparing mass additions. I don't

want to add it as an individual

asset. It will simply be treated as

an improvement to the server.

Battery Backup:

2000.00

Asset #: XXXXX

Assumptions




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Tasks

Create a Quick Addition

1. Navigate to the Asset Additions form


2. (B) Quick Additions

Description = XXComputer Server

Tag Number = XXCOMPUTER

Category = COMPUTER-PC

Book = XXCORP BOOK

Cost = 100000

Employee Name = Adams, Mr. Brian

Expense Account = XX-110-7360-0000-000

Location = USA-CA-SAN FRANCISCO-1

3. (B) Done

4. (B) OK

Add the Battery Backup line to the asset with the tag number of XXCOMPUTER

5. Navigate to the Find Mass Additions window to find the invoice you entered.


6. Locate the invoice line for the battery backup.

7. Use the Add to Asset functionality to find the asset with a tag number of XXCOMPUTER

and add the battery backup to that asset

8. Change the queue to POST and tab out of the field

Note: The system should save the line as a COST ADJUSTMENT. Thats because weve

adjusted the cost of an existing asset.

Post Mass Additions

9. Navigate to the Submit Request Set window

(N) Mass Additions > Post Mass Additions

10. Post mass additions using parameters according to the following table:

Program Stage Parameters

Mass Additions Post Mass Additions Post XXCORP BOOK


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Mass Additions Posting Report Mass Additions Posting Report XXCORP BOOK


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Practice - Load Assets using ADI (Required)

Overview

In this practice, you will load assets using ADI.

Assumptions



Tasks

Set up Connect String Information

Your instructor will provide you with connect string information.

Create an Asset Worksheet

1. Click the Create Assets icon on your toolbar

Corporate Depreciation Book = XXCORP BOOK

2. Select [Default] from the Select Layout drop-down list.

3. Select the New Workbook option in the Create Worksheet in region.

4. (B) OK Asset Number = XX-123

Country = USA

State = NY

City = NEW YORK

Building = OFFICE1

Major Category = BUILDING

Minor Category = OFFICE

Units = 1

Cost = 10000000

Description = Office building


Clearing Account = XX-000-XXXX-0000-000

Date Placed in Service = The 15thof last December(12/15/YYYY)

Note: Make sure you enter each segment of the Expense and Clearing account in acorresponding cell.


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Note: Make sure to use capital letters where appropriate. Any column with the word List is

case sensitive

Enter Asset Information by Using the List of Values

For the next few assets, you want to validate some of the information before the upload process

so you decide to use the list of values to enter the Location, Category and Accounting fields.

5. Use the following information for the assets:

Location = USA-CA-SF-NONE

Category = VEHICLE-OWNED STANDARD


Clearing Account = XX-000-XXXX-0000-000

DPIS = 15-DEC-20YY (where YY is LAST year)

Asset # Units Cost Descr

XX-124 1 45000 XXBMW

XX-125 1 18500 XXTRUCK

XX-126 1 19000 XXVAN

Copy and Modify Asset Rows

You realize the next few assets are similar to the last set of assets you entered. Copy the three

rows from step the table above and paste them beneath. Change the Asset numbers to XX-127,XX-128, and XX-129, respectively.

6. Update Cost and Description information according to the following table:

Asset # Units Cost Descr


XX-128 1 10000 XXTRAILER


Upload Assets

7. Upload the assets to the interface, make sure you also have Oracle automatically start the

Post process.


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Practice - Run Asset Related Reports (Required)

Overview

In this practice, you will run the Asset Additions Report (Required)

Assumptions



Tasks

Run the Asset Additions Report

1. Navigate to the Request Submission form


2. (B) OK to submit a single request

Name = Asset Additions Report

Book = XXCORP BOOK

From Period = Dec-XX (Last year)

To Period = Dec-XX (Last year)

3. Submit the request and review the output once it has completed.

Run the Additions By Source Report

This report shows all assets added during an accounting period range and the invoice lines

associated with that asset. The report groups the assets by source: Mass Additions or Manual

Transactions.



5. Submit a single request Name = Additions by Source

Book = XXCORP BOOK

From Period = Dec-XX (Last year)

To Period = Dec-XX (Last year)

6. Submit the request and view the output when it completes.


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Run the Asset Additions by Responsibility Report

This report shows assets that you added to your cost centers through additions, capitalizations,

and transfers in the accounting period you specify. The report shows the owner and location ofeach unit.



8. Submit a single request

Name = Asset Additions Responsibility Report

Book = XXCORP BOOK

Period = Dec-XX (Last year)

From Cost Center = 110

To Cost Center = 140

9. (B) OK

10. Submit the request and view the output when it completes.

Note: This report may not show the correct owners of the assetobviously a problem thatis fixed with a patch.


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CIP Asset Additions


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Practice - Add CIP Asset Shells (Required)

Overview

CIP Assets do not have a cost when they are added. Essentially we are adding a CIP Shell

used to capture costs. As invoices and labor lines are added, the cost of the asset increases and iseventually placed into service and depreciated.

Assumptions



Tasks

Add a Project Number

1. Add Project Number XX-1000 to the Vision FA Asset Key value set.

Add a CIP Asset

2. Navigate to the Assets Workbench



Field Value

Description XXCOMPUTER NETWORK

Tag Number XXCOMPNET

Category XXCOMPUTER-XXNETWORK

Asset Key XX-1000

Asset Type CIP

Book XXCORP BOOK

Expense Account XX-110-7320-0000-000Location USA-CA-SAN FRANCISCO-100

4. (B) Done

5. Record the Asset Number assigned ___________________________


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Note: The choice of Asset Type is driven by the category. If the category is flagged as an

expense type asset, the only valid choice in the pop list would be Expense.


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Practice - Add Labor to CIP Assets (Required)

Overview

Employee labor does not come through the Accounts Payable system and there is no interface

from Payroll to Fixed Assets. Therefore it must be added to the asset directly. A debit isgenerated to the CIP Cost account and a credit to the CIP Clearing account. The CIP Clearingaccount will have to be cleared manually with a journal entry in the general ledger.

In this lab and the next lab, we will add cost to CIP assets directly with Source Lines and Mass

Additions.

Assumptions



Tasks

Add Labor to a CIP Asset

1. Find the asset with tag number XXCOMPNET by navigating to the Assets window.


Tag Number = XXCOMPNET

2. (B) Find

3. (B) Source Lines

4. Enter Source Line information according to the following table:

Invoice Number Line Description Line Amount

1 Employee Labor 7500

5. (B) Done

Note: Adding labor to this asset created a debit of 7500 to an asset cost account and 7500 to

an asset clearing account. A journal entry in the General Ledger or in another sub-ledgerwill be necessary to clear the clearing account.


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Practice - Add Invoice Lines to a CIP Asset (Required)

Overview

Most of the cost associated with a CIP asset will come from Accounts Payable during the Mass

Additions process.

Assumptions



Tasks

Add Invoice Lines from Mass Additions to a CIP Asset

1. Navigate to the Prepare Mass Additions window


Invoice Number = XXINV

2. Add the Hub, Cable and High Speed Server to the CIP asset

Prepare the Invoice Line for Posting

3. Prepare the addition so it may be posted.

Post Mass Additions

4. Navigate to the Submit Request Set window

(N) Mass Additions > Post Mass Additions

5. Post your additions


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Practice - Capitalize a CIP Asset (Required)

Overview

When CIP Assets are complete, they may be placed in service through the Capitalize CIP Assets

form. In the following exercise, you will capitalize the asset with Tag Number XXCOMPNET.

Note: Fixed Assets may be used for simple CIP projects (Oracle Projects is used for complex

CIP projects). One great use for the Asset Key flexfield is to store project number. All assetsassociated with the same project have the same project number in the Asset Key flexfield. When

the project is complete the Capitalize CIP assets form can be used to search for all assets with the

same project number. All assets can be easily selected and placed in service.

Assumptions



Tasks

Capitalize the Asset with Tag Number XXCOMPNET

1. Navigate to the Capitalize CIP Assets window

(N) Assets > Capitalize CIP Assets

Book = XXCORP BOOK

Asset Key = XX-1000

2. (B) Find

3. Click the record selection checkbox

4. (B) Capitalize


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Asset Adjustments


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Practice - Reclassify an Asset (Required)

Overview

In this practice you will reclassify an asset.

Assumptions



Tasks

Reclassify an Asset

1. Navigate to the Asset Details window


2. Find the asset with XXCAR as the tag number.

3. (B) Open

4. Change the assets category from VEHICLE-OWNED STANDARD to VEHICLE-

OWNED HEAVY

5. Save

6. (B) Done

7. Close forms until you are back at the Navigator.

Note: Oracle Assets transfers Cost and Accumulated Depreciation to the accounts

associated with the new category.

Note: It is not possible to do a prior period reclassification.


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Practice - Adjust Asset Units (Required)

Overview

In this practice you will adjust asset units.

Assumptions



Tasks

Adjust Asset Units



2. Find the asset with the tag number XXCAR

3. (B) Open

4. Adjust the units to 2

5. Perform additional adjustments so final assignments are the same as those in the following

table:

Unit Name Expense Account Location

1 Adams, Mr. Brian 01-110-7350-0000-000 USA-CA-SAN FRANCISCO-1

1 Ray, Ms. Amy 01-140-7350-0000-000 USA-CA-SAN FRANCISCO-2

6. (B) Done

7. Are any journal entries created based on this unit adjustment? Why or why not?


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Practice - Adjust Asset Cost (Required)

Overview

In this practice you will adjust the cost of an asset.

Assumptions



Tasks

Adjust the Cost of an Asset



2. Query your asset with a tag number of XXCAR

3. Update the cost to 50,000. Do not amortize the adjustment.

Note: The option to Amortize NBV Over Remaining Life was added to enable the ability to

enter accumulated depreciation on a newly added asset and to have this "adjustment" treated

as an amortized adjustment. In prior releases of Oracle Fixed Assets it was not possible to

perform amortized adjustments in the period an asset was added as the "AmortizeAdjustment" check box was not available until after depreciation had been run for the asset

(received APP-47782 error when trying to check this box).


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Practice - Transfer an Asset (Required)

Overview

Transfer an Asset.

Assumptions



Tasks

Transfer an asset



2. Find the asset with tag number XXCAR

3. (B) Assignments

4. Change the assignment from Ray, Ms. Amy to Frans, Mr. Hans Fritz

Expense Account = XX-140-7350-0000-000 (Hint: use F5 to copy prior field)

Location = USA-CA-SAN FRANCISCO-2

5. (B) Done

Note: If you transfer an asset during the period in which it was added, the transfer date

automatically defaults to the assets date placed in service, and you cannot change it.

6. Close forms until you are back at the Navigator.


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Note: The Physical Inventory Comparison program only compares physical inventory

entries with a status of NEW. If an entry has been compared and you want it to becompared again, you must change the status of that entry back to NEW in the Inventory

Entries window.

Status Meaning

Difference During the comparison, Oracle Assets identified a difference in thelocation or number of units for this asset Oracle Assets

New When you enter a new physical inventory entry, the status is

automatically set to NEW. A status of NEW indicates the entry has not

been compared. After an entry has been compared, you also have theoption to reset the status to NEW, so that it will be compared again.

No Asset Number The comparison program could not locate the asset number in Oracle

Assets.

NON-Inventorial The asset associated with the physical inventory entry is not designated

to be included in physical inventory (the In Physical Inventory check

box is not checked).Not Unique During the comparison, more than one asset listed in Oracle Assets

matched a single physical inventory entry.

Reconciled The asset is the same in Oracle Assets and in physical inventory, and is

automatically set to a status of RECONCILED.

To Reconcile The asset is the same in Oracle Assets and in physical inventory, and is

automatically set to a status of RECONCILED.

Run the Physical Inventory Comparison Program

When you are finished with reconciling your physical inventory, you can run the Physical

Inventory Missing Assets Report to determine if there are any assets in your production systemthat could not be found during the physical inventory process. This report is a standard variable

format report, which you must run from the ADI Request Center. The Request Center allows you

to manipulate data in the desktop application of your choice.

Code Meaning

ADDITION An asset was found in physical inventory that is not in Oracle

Assets. The asset needs to be added to Oracle Assets.

DOWN-UNIT

ADJUSTMENT

For a particular asset, more units are listed in Oracle Assets than are

found in physical inventory. The number of units needs to beadjusted down in Oracle Assets.

FULL RETIREMENT An asset needs to be fully retired, because it is listed in Oracle

Assets but not found in physical inventory.

NONE No unit adjustment is necessary.

PARTIAL An asset needs to be partially retired. Usually, you would do this

when for a particular asset, you found less units in physical


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RETIREMENT inventory than are listed in Oracle Assets.

REINSTATEMENT An asset needs to be reinstated. Although it was retired, during the

physical inventory process, it was found that the asset was still

being used.

UP UNIT

ADJUSTMENT

For a particular asset, less units are listed in Oracle Assets than are

found in physical inventory. The number of units needs to be

adjusted up in Oracle Assets.


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Practice - Add Assets for Mass Transactions (Required)

Overview

In this practice, you will add four assets into the corporate book, XXCORP BOOK, accepting the

default rules associated with this asset category. These assets will be used in the other practicesin this module. You will also run depreciation to close the period.

Assumptions



Tasks

Add Assets




3. Enter asset information according the following table:

Field Value

Description XXCHEVY IMPALA

Tag Number XXCHEVY IMPALA

Category VEHICLE-OWNED STANDARD

Book XXCORP BOOK

Cost 20,000

Employee Name Adams, Mr. Brian, #43


Location USA-CA-SAN FRANCISCO-XX_CLASS

4. (B) Done

5. Note the asset number assigned: _______________________________

6. (B) OK


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Field Value

Description XXFORD TRUCK

Tag Number XXFORD TRUCK

Category VEHICLE-OWNED HEAVY

Book XXCORP BOOK

Cost 30000




10. (B) Done

11. Note the asset number assigned: _______________________________.

12. (B) OK

13.


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Navigate to the QuickAdditions window.




Field Value

Description XXOFFICE BUILDING

Tag Number XXOFFICE

Category BUILDING-OFFICE

Book XXCORP BOOK

Cost 1,000,000.




16. (B) Done

17. Note the asset number assigned:_______________________________

18. (B) OK





Field Value

Description XXMANUFACTURING BUILDING

Tag Number XXBLDG MFG

Category BUILDING-MANUFACTURING

Book XXCORP BOOK

Cost 2,000,000.

Employee Name Denby, Ms. Jean #78



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22. (B) Done

23. Note the asset number assigned: _______________________________

24. (B) OK

Run Depreciation to Close the Period

25. Navigate to the Depreciation form

(N) Depreciation > Run Depreciation

Book = XXCORP BOOK

Period = Dec-XX (Last year)

Close Period = Checked

26. Submit the request.

Monitor the Depreciation Process

27. (M) View > Requests

28. (B) Find

29. (B) Refresh Data until the processes complete.

Verify the Current Open Period

30. Navigate to the Books form

(N) Setup > Asset System > Book Controls

31. Query your XXCORP BOOK

32. Verify the current period is Jan-YY.


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