Re:how to add an Upgrade to an Asset - HandsonERP - Oracle E-Business Suite Training

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Re:how to add an Upgrade to an Asset (1 viewing) (1) Guest

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TOPIC: Re:how to add an Upgrade to an Asset

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handsonerp (Admin)

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Re:how to add an Upgrade to an Asset 13 Years, 5 Months ago

Sorry for the late reply.

If expected life of your asset is 3 years and 7 months then this is exactly how you will tell Oracle. (3 years and 7 months). You enter remaining life in years and months. You can enter that at asset category level or override it at the asset level.

If asset has already been in service since last 7 months, then at the time of adding the asset into the system, enter the service date as 7 months in the past. Oracle will automatically calculate depreciation expense for the last 7 months.

DEBIT: ASSET COST
DEBIT: DEPRECIATION EXPENSE (FOR 7 MONTHS)
CREDIT: ASSET CLEARING
CREDIT: ACCUMULATED EXPENSE (FOR 7 MONTHS)

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