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Date of Release
Client
Project
Author
Sneha Yadav
Reviewer
Amarnath Vankadara
Approved by
Control Assurance by
Date:
Date:
Date:
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REVISION HISTORY
Document Title: Fixed Asset User Manual Document
Version
No.
Issue Date
Change Details
Owner
1.0
No Previous Document
Sneha
10.0
14th October
2014
Sneha
20.0
Sneha
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Approved By
Remarks
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DISTRIBUTION
Copy No.
Name
Location
ICAR HQ
ICAR HQ
ICAR HQ
New Delhi
ICAR HQ
ICAR HQ
10
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Table of Contents
INTRODUCTION ....................................................................................................................................................... ERROR! BOOKMARK NOT DEFINED.-7
ABOUT THIS DOCUMENT....................................................................................................................................................... ERROR! BOOKMARK NOT DEFINED.-7
1. 1 ASSET PROCESS OVERVIEW DESCRIPTION ............................................................................................................................................................ 8-9
1.2 LOGGING INTO ORACLE APPLICATIONS .................................................................................................................................................................... 10
1.3 MANUAL ASSET ADDITION ..................................................................................................................................................................................... 11-19
1.4 ASSET ADDITION-PROCUREMENT PROCESS..... .20-33
1. 5 CIP ASSETS CAPITALIZATION ................................................................................................................................................................................ 34-41
1. 6 BUSINESS PROCESS ASSET RETIREMENT PROCESS .................................................................................................................................... 42-52
1.7 ASSET TRANSFER (FROM ONE INSTITUTE TO OTHER INSTITUTE) .................................................................................................................. 53-65
1.8 BUSINESS PROCESS: BUYBACK PROCESS.......................................................................................................................................................... 66-81
1. 9 RUNNING VARIOUS REPORTS IN FIXED ASSET MODULE .................................................................................................................................. 82-95
1.10 RUNNING DERPRECIATION 96-97
1.11 ADD TO ASSET ..98-104
1.12 SPLIT ASSET .105-112
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Introduction
About this document
This document covers the above mentioned contents of the following module:
Fixed Asset
The document has been developed by the IBM Team based on the inputs from the ICAR Team.
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Keyboard Shortcut
F11
Prefix or suffix with %
CTRL + F11
F4
CTRL + L
SHIFT +F5
SHIFT +F6
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Assets can be retired in the system and system will calculate the gain/losses automatically.
Accounting Impact shall be done by the system and the entries shall get transferred and posted in General Ledger.
Assets can be bought back and new assets in place of the retired ones shall be created.
Asset reports will be generated.
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Asset Process
Overview Diagram
Asset Capitalization
Automatic
Manual
Manual creation
(Gift/Donation/ Asset
Transfers)
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Screenshots and
Steps
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1.3
Process
Overview
Description
Navigation
Provision of manually addition of assets has been provided for certain cases such as assets added through donation, Gifts, Trans
User would need to capture basic details of assets such as its cost, category, depreciation method and depreciation rate etc in sy
while adding assets in case of gifts, transfers or donations.
To perform Manual asset addition in system, steps are mentioned herein.
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Screenshot
Click on Asset
Workbench
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Screenshot
Once you click on Asset Workbench, the Find Assets screen will open.
Enter the Book Name and Click on Additions.
Click on
Additions
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Filling the
Asset Details
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Filling the
Asset Details
Upon Capturing
above mentioned
fields, Press
continue button
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Entering
other details
while
capitalizing
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Filling asset
details
Click on continue
Button
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Assigning the
asset to the
employee
and location
Once you click on continue, the system will take you to Assignment screen.
Comments: Here you can enter any comment you want to attach with the asset. It is not a mandatory field.
Unit Change: enter the number of unit assigned in this field. In case you want to remove the asset from a particular employee, use
negative sign in the unit change field.
Employee: Enter the name of the employee to whom you want to assign the asset. You can select the employee name from the li
values attached.
Depreciation Account: Enter the relevant depreciation account with respect to the asset.
You can assign the asset to multiple employees by entering more lines.
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Filling the
Assignment
Information
Enter the
Units to be
assigned to
the specific
employee.
Click on
Done
Once you click on Done, the system will generate an asset number for the said asset
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Navigation
For Purchased Assets, Purchase Order shall be created by the stores department
The Asset will be billed by the accounts department.
Once Bill for Asset is created in Payables Department (As shown in Payables Manual), Create Accounting Program will be run by the
Accounts Department.
Create accounting Program will Account for the Bill Created for the Asset purchase.
After Running Create Accounting Program, Mass Addition Create Program will be run for Transferring the asset lines to FA Module.
Mass additions can be created from the Oracle Payables module.
Mass additions can be created as many times as desired during a period.
Once the additions are created, you can view them in the Mass Additions window.
Now the Bill can be searched with the Bill Number in Asset Workbench.
Asset will be prepared for addition by entering the details such as Date of Capitalization, Employee to whom it is assigned etc. Also while
preparing the asset the queue status shall be changed to POST.
Run the Post Mass Additions program in Oracle Assets.
The program would select the Mass Additions lines with a Queue Status of POST.
Successful completion of the program will create the Asset in Oracle Assets using the data entered in Mass Additions window.
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Click on
Requests Button
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Running the
Mass
addition
request
2. Click on
Single Request
and then OK
1. Click on Submit a
New Request.
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Once Mass Addition Create is Run, come back to the Navigator screen by clicking on the HAT Sign.
Nav : IARI Asset for Store responsibility- Mass Addition-> Prepare Mass Addition
Click on
HAT Sign to
change your
responsibility
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Once you click on Prepare Mass Addition, Find Mass Addition Screen opens.
Enter the Book Name and Queue as NEW and click on Find Button.
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Once you click on Find, the following screen opens where you can see the Bill imported through Mass Addition Create Program.
Click on Open.
Click on open
button
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Cost: Cost of the Asset shall also default from the Bill.
All the other details will default from the PO and the bill.
Once the Source Tab is done , Click on the asset details tab.
In Asset Details Tab, you need to enter the Asset Description and units.
Rest all the things in it will default from the PO and the Bill.
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Change the
Queue to Post
Enter the
Location of
the asset
Once Source
Tab is done,
Click on Asset
details tab
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Click on Asset Details Tab. Once you click on Asset Details, the following screen opens.
Enter the Description.
As soon as you click on Source of Funds field, it will default.
Click on Depreciation Tab to ensure whether all the Depreciation Information have defaulted properly.
Enter the
description
and source
will default
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Post Mass
Addition
Navigation
Once the Prepare Mass Addition is done, Go back to the Navigator Screen.
Navigation: IARI Asset for Store-Mass Addition->Post Mass Addition
Post Mass
Addition
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Post Mass
addition
process
Once you click on Post Mass Addition, the following screen opens.
In the parameter screen, specify the corporate book.
Once the process has been completed, the system will automatically run the Mass Additions Posting report.
Click on Submit Button and you can see the Mass addition Posting report.
Mention the
Parameters as
Corporate Book
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Running and
viewing Mass
Addition
Posting
Report
Once you have done Post Mass Addition, run the Mass Addition Posting report.
This Report will show the Asset Posted against your bill.
Navigation: View->Requests->Submit a New Request
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1.5
Process
Overview
Description
Newly created Mass Addition lines in Mass Additions table with Asset Type Capitalized will be reviewed.
FA Cell / Audit and Accounts Section will prepare the Asset by giving relevant details (Asset Category, Location, Employee Assign
Date of Capitalization, etc.).
The FA Cell / Audit and Accounts Section will change the Queue Status to POST.
Then, FA Cell / Audit and Accounts Section will run the Post Mass Additions program in Oracle Assets.
The program would select the Mass Additions lines with a Queue Status of POST.
Successful completion of the program will create the Asset in Oracle Assets using the data entered in Mass Additions window.
For Oracle Projects to send asset lines to Oracle Assets, the asset line must meet these specific conditions:
The actual date in service must fall in the current or a prior Oracle Assets accounting period
The CIP costs for summarized asset lines must be interfaced to Oracle General Ledger
The CIP costs for supplier bill adjustments must be interfaced to Oracle Payables
CIP asset must be associated with the asset line
Navigation
Screenshot
Once you click on prepare mass addition, the following screen opens
Enter the Book in which CIP asset invoice has been created
Enter the Invoice Number in the respective field
Click on Find
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Screenshot
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Screenshot
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Click on Asset
Details Tab
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Screenshot
In asset Detail Tab, description and source will default be from the invoice
The asset type shall be CIP
Go on Depreciation tab to see if the rate of depreciation applicable is correct
Click on Done
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Navigation for
Capitalizing
CIP Asset
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CIP Asset
Capitalizatio
n
Capitalize
CIP asset
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CIP Asset
Capitalisatio
n Process
Place a check on
the asset you want
to capitalize.
Click on
capitalize
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1.6
Process
Overview
On receiving the information on sale/disposal of assets with relevant details, the Audit and Accounts Section will perform the
following transactions
A transaction will be entered for retirement in Oracle Assets, recording the proceeds of sale and cost of removal.
The Calculate Gain/Loss Program will be run to calculate the gain/loss on sale.
Oracle Assets will automatically pass entries for the retirement to Oracle General Ledger, taking into account the depre
according to the Retirement Convention.
Assets can be retired based on the cost or based on the Units. Apart from full retirement, partial retirement can also be
Liability and Payment to vendor in Oracle Payables for cost of removal payable at the time of sale.
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Process
Flow
Diagram
Start
Stop
Navigation
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Asset
Retirement
Process
Screenshot
and Steps
Click on Asset
workbench
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Asset
Retirement
Process
Screenshot
and Steps
Click on
Find button
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Asset
Retirement
Process
Screenshot
and Steps
Click on retirement
button
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Asset
Retirement
Process
Screenshot
and Steps
Click on Done
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Asset
Retirement
Process
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Asset
Retirement
Process
Screenshot
and Steps
After giving all the details, save the retirement information (Transaction completed: 1 record applied and saved). Oracle
Assets assigns each retirement transaction a unique Reference Number that you can use to track the retirement. Retire
Status will be PENDING at this moment.
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After
Retirement
,running
Calculate
Gain/Loss
Program
Note: When the depreciation program is submitted at the month end, the system automatically runs the Calculate Gains and L
program for calculating the gain or loss on retirement / reinstatement transaction during the month
Viewing the
Financial
Enquiry after
retirement
Navigation
Once you have retired the asset, run calculate gains and losses and you can view its financial enquiry and can see
NBV has become 0 now.
Query the retired asset in Asset Workbench and find the asset and click on financial inquiry as shown below.
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Viewing
Financial
Enquiry
Financial Inquiry
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Viewing
Financial
Information
of the retired
asset
Once you click on Financial Information, the following screen opens which will reflect the Financial Information relate
asset.
You can view the entire asset history on this screen.
Now the current cost after retirement shall be zero.
You can also view the financial information of an existing asset by following the same procedure.
Financial
Information
shows the Full
Retirement of the
asset
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1.7
Overview
Process
Flow
Diagram
Start
Stop
Navigation
Navigation Assets Asset Workbench (query with your asset number which is going to be Retired and then click on
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button)
Select financial information
Look for the Net Book Value of the Asset going to be retired.
The same value shall be entered at the time of retiring the asset in the Proceed of Sale field.
Since the asset is going to be transferred, no proceed of sale shall be recovered from the transferee institute, hence in
to bring the current cost of the asset to zero, we will enter the NBV of the asset in the Proceed of Sale field.
Go to the financial enquiry screen of the asset to be retired as shown in retirement process.
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Asset
Transfer
from one
institute to
another
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Navigation
For retiring
the asset
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Retiring the
Asset
Once you click on Find, the following screen opens showing the asset number you queried.
Click on Retirements button.
Click here
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Retiring the
Asset
Fill all the yellow fields like Book Name, Sanction Number, Retire Date, Retirement Type, Cost to be retired which s
the actual cost and Proceeds of Sale which shall be the Net Book Value.
Fill the DFF with the institute detail where the asset is to be transferred and click on Done.
Ente
the a
retire
of sa
Fill th
with t
institu
the as
be tra
Click on DONE
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Navigation
For Capitalizing the Transferred Asset in the other Institute. Go back to the Navigator.
Responsibility: IARI Asset
Navigate to asset workbench window.
Nav Assets Asset workbench
Capitalizing
the asset in
other institute
Click on Asset
Workbench
Transferred
asset
Once you click on Asset Workbench, the Find Asset screen opens.
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Capitalization
Screenshot
Click on Additions
button
Filling the
asset
addition
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form in the
New
Institute
Asset Details
Form
Screenshot
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Continue
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Screenshot
Enter the da
placed in se
Click on
Continue button
Screenshot
Once you click on continue, the assignment screen opens where you can assign the asset to some employee. Once yo
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entered all the information as explained above in manual asset addition, click on Done.
Once you click on Done button and save your transactions, you will get transaction complete message and the asset
as well.
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1.8
Process
Overview
Buyback means when we are replacing some old assets with the new assets for a Particular corporate book. Here the
value of the old asset should be adjusted when we are invoicing and paying for the bill.
After the bill has been accounted, the Create Mass Addition program shall be run .
After that Prepare and Post Mass addition will be done and the new asset will be added to the system.
Process
overview
diagram
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Navigation
Finding the
asset to be
replaced in
buyback
Click on Find
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Retiring the
existing
asset
Click on Retirements
button
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Retirement
Process
Book: Enter the Book Name here in which the asset to be retired is there.
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Screenshot
Click on Done
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Navigation
for PO For
Buyback
Screenshot
The PO shall be
created with the
Buyback amount.
DFF
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Screen shot
for PO
Budget
Program
After creating PO, Run ICAR PO BUDGET PROGRAM from purchasing responsibility
After this Program Import Journals from general ledger to increase funding budget of buyback amount
Note: This process shall be done by Stores Department.
Click on Submit
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After PO Program, Import Journal Program shall be run by the Accounts Department.
Then click on Submit button.
Glimpses
of Receipt
creation
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by Stores
Glimpses
of Bill
Creation
by DDO
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Assistant
Enter negative
amount line
Preparing
Mass
addition
for
buyback
asset
Once the Bill is created, Mass Addition Create Program shall be run by the Accounts Section as explained above in
Asset Addition Process.After that, Prepare Mass addition will be done.
Responsibility IARI Assets
Prepare Mass Addition from Fixed Asset.
Navigation: Mass Addition Prepare Mass Addition
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Click on Prepare
Mass Addition
Preparing
Mass
addition
for the
newly
created
asset
Search for the asset with its Bill number and queue as NEW
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Preparing
Mass
Addition
Once you click on Find, the following screen opens. Click on Open
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Preparing
Asset
Click on
Done
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Post Mass
Addition
After Prepare mass Addition, go to the navigator and select post mass addition option
Run Post Mass Addition for the corporate book to create asset.
Navigation: Mass Addition Post Mass Addition
The asset will get created and you can search the asset with the Bill Number from the asset
Workbench.
Enter the
Parameters
as Corp
Book
Once Post Mass addition is done, you can query the asset with the Invoice number from Asset Workbench as
shown in above processes
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1.9
Reports
By Using Oracle Fixed Asset Module, you can get all the Reports related to Fixed Assets
The Reports which can be generated include:
(a) ICAR Asset Issue Report: This Report will show the asset number and asset description and to whom it has been issued
alongwith the date of purchase and date of issue.
asset
(b) ICAR Asset Transfer In Register: This Report will show the assets which the institute has received from outside the
institute.
asset in
(c) ICAR Asset Transfer Out Register: This report will show the assets which have been transferred out of the Institute
asset out
(d) ICAR Fixed Asset Register Report: This Report will show the Asset Categories alongwith their original cost, accumulated
depreciation, location of the asset, gain or loss on sale of asset, reason of disposal of asset.
register
(e) ICAR Fixed Asset Schedule Report: This Report will display the Schedule 5. This Report will be run with the parameter
as Book Name. The Report can be run Fund Type Wise.
schedule
Navigation
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Screenshot
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Screenshot
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Running
Reports
Click on
OK
Click on
Submit
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Screenshot
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Click on
OK
Click on
Submit
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Click on View
Output
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Navigation
Once you click on run Depreciation, the following screen shall open.
Upon clicking on the Book LOV, Institute will default.
Process and
Screenshot
Click on Run
Depreciation
Running
Depreciation
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Once you click on Run, your request to run depreciation will get submitted and a request number will get generated.
You can go to financial inquiry screen to see the impact of depreciation.
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Process
Overview
Description
In cases where you want to add a particular asset to an existing asset, you can use this functionality.
This can also be used in the case of CIP asset capitalization where you want to add the new asset to the same asset.
Navigation
Screenshot
Click on Prepare
mass addition
Screenshot
Once you click on Prepare Mass Addition, the Find Mass addition screen shall open
Enter the name of the Book and queue as NEW .
Enter the Invoice number for which mass addition is to be done
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Click on Find
Enter the
Queue as
NEW
Screenshot
Once you click on Find, The Mass Additions Summary screen opens
It will show the Invoice number you queried
Click on Add to Asset
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Screenshot
Once you click on add to asset, the Find Asset window opens
Enter the asset number in which you want to add the particular asset
Click on find
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Click on
Find
Screeshot
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Click on
Done
Screenshot
Once you have click on Done , the Mass Additions Summary screen opens.
Click on Open to prepare the asset for addition
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Click on Open
Add to Asset
Screenshot
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Click on
Done
Once you click on Done, the asset will get added to the said asset and you can query the same from the asset workbench.
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Process
Overview
description
Payables might be sending clubbed information to Assets i.e. one mass addition line might ultimately give rise
to more than 1 asset. Mass Addition line originates from a manually entered distribution line in Payables, it
comes with Unit = 1 In that case, before creating the asset out of the mass addition line, that line has to be
split into the required number of lines for creating the assets. Suppose, the mass addition line has 4 Units and
Cost 1000. If this line is split, it will give rise to 4 lines, each of 1 unit and Cost 250. The number of lines, which
gets generated in a split transaction, is equal to the number of units of the original line; the cost is also
distributed equally.
Navigation
Screenshot
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Screenshot
Once you click on Prepare Mass Addition, the Find Mass Addition screen opens
Enter the book name and the Invoice number which you want to find.
Enter the Queue as New and click on find
Change the
queue as NEW
Click on
Find
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Split asset
Click on
Open
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Split Asset
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Split Asset
Once you click on Done, the Mass Addition Summary screen opens.
It will show the Queue as On Hold as we have changed the unit
Place the cursor on the invoice number and click on Split asset
Again query the asset with the invoice number and queue status as ON HOLD
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Split Asset
Once you click on Find, the Mass Addition Summary Screen opens.
It will show 5 lines against the same invoice RAV3 because now we have split it into 5 units
Open each of the lines and change the status to POST and enter the required information
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Split asset
Change the status of the Asset as Post and enter all the required information and click on Done
This way complete all the split assets
Run post mass addition
Now these assets can be queried from the asset workbench.
All the assets have different asset number.
Same way change the
status of all the asset
and enter all the
information.
After this run post mass
addition program
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