I. Subledger Accounting Architecture:
•Oracle Assets is fully integrated with SLA, which is a common accounting platform for Sub Ledgers
•You can use the seeded Account Derivation definitions or modify them as required
•SLA supports Account Generator functionality for existing Asset Books
•Supports new SLA Accounting report and online account inquiry
Benefits:
The flexibility of the accounting rule setup allows meeting different requirements in different legislative, geographic or industry contexts within a single instance. Assuming operations in multiple countries, each with its own legal requirements and accounting standards, you are able to define a setup to meet each of the requirements. SLA allows for multiple accounting requirements for a single transaction or business event.
The accounting data that is generated is viewable and provides full auditability.
Subledger Accounting Process:
The process is executed as follows:
•Enter transactions in Oracle Assets
•Run the Create Accounting Program to process accounting.
•Inquire and drilldown from SLA Pages
II. Enhanced Mass Additions for Legacy Conversions:
• Many attributes have been added to the FA MASSADDITIONS interface table, including:
–Asset life
–Depreciation method
–Prorate convention
–Bonus rule Ceiling name
–Depreciation limit
• Oracle Web Applications Desktop Integrator (Web ADI) has been enhanced to support the following new columns:
–Depreciation Method
–Life in Months
–Basic Rate
–Adjusted Rate
–Prorate Convention
–Bonus Rule
–Depreciation Limit Type
Enhanced Mass Additions for Legacy Conversions Benefits:
You can use the mass additions process to convert data from a previous asset system. Instead of loading the asset information into multiple Oracle Assets tables, load it into the FA_MASS_ADDITIONS table. The Post Mass Additions process can then be used to move the asset information from the table to Oracle Assets. After placing your data in this table, you run the Post Mass Additions program to perform the data import.
III. Automatic Preparation of Mass Additions:
•Consist of default rules and Public APIs that can be used by customers to complete the preparation of mass addition lines automatically
•Auto populate required fields such as Expense Account, Asset Category, and others
Benefits:
The major benefits of this feature are that you can:
•Avoid manual intervention during the Mass Additions prepare process
•Avoid customization and use public APIs to effect custom business logic
To process mass addition lines:
1.Interface Mass Additions Lines from Accounts Payable or any other system
2.Run the Prepare Mass Additions Program
3.Optionally verify Mass Additions data
4.Post Mass Additions
Automatic Preparation of Mass Additions Setup QuickcodesSet up the Rules to Prepare Mass Additions in Quickcodes:
•Use Default: The Asset Category is derived based on the Asset Clearing Account if there is a one to one match in the Asset Category setup. The Expense account is derived based on the Clearing Account by replacing the natural account segment from the Asset Category.
•Use Custom: The Prepare Mass Additions program will use the custom logic coded in the Public API
•Use Custom Energy: Energy industry specific custom rule.
IV. Flexible Reporting Using XML Publisher:
•Major Asset Transaction reports have been modified to support XML publisher
•You can customize report output by modifying seeded templates or by using new templates
XML reporting is available for the following asset reports:
•Asset Transfers Report
•Transaction History Report
•Asset Reclassification Report
•Mass Additions Create Report
•Cost Adjustment Report
•Cost Summary Report
•CIP Summary Report
•Reserve Summary
•Journal Entry Reserve Ledger
•Asset Additions Report
•CIP Capitalization Report
•Mass Additions Posting
•Asset Retirements
Set up Procedure:
1.Query up the concurrent program as system administrator
2.Change the output format to XML
3.Once the output is flagged as XML, submit concurrent request
V. Automatic Depreciation Rollback:
Since release 11i, users have been able to run depreciation for an asset book without closing the period. If additional adjustments are required in the current period, then the user submits a process to roll back depreciation for the entire book, performs the necessary adjustment(s) and then resubmits the depreciation program.
In Release 12, the intermediate manual step of rolling back depreciation for the entire book in order to process further adjustments on selected assets is no longer necessary. As before, you can submit depreciation for the entire book prior to closing the period. If it becomes necessary to process financial adjustments on one or more assets, you may proceed with the transaction normally via the asset workbench or mass transactions. Oracle Assets automatically rolls back the depreciation on just the selected assets (instead of the whole book) and allows the transactions to be processed normally. The assets for which depreciation was rolled back is automatically picked up during the next depreciation run or at the time that the depreciation period is finally closed.
Benefits:
1. It is no longer required to run depreciation rollback program manually.
2. Depreciation rollback is executed only on select assets as required and not on the entire Asset Book, thereby enhancing performance of the program.
•Oracle Assets is fully integrated with SLA, which is a common accounting platform for Sub Ledgers
•You can use the seeded Account Derivation definitions or modify them as required
•SLA supports Account Generator functionality for existing Asset Books
•Supports new SLA Accounting report and online account inquiry
Benefits:
The flexibility of the accounting rule setup allows meeting different requirements in different legislative, geographic or industry contexts within a single instance. Assuming operations in multiple countries, each with its own legal requirements and accounting standards, you are able to define a setup to meet each of the requirements. SLA allows for multiple accounting requirements for a single transaction or business event.
The accounting data that is generated is viewable and provides full auditability.
Subledger Accounting Process:
The process is executed as follows:
•Enter transactions in Oracle Assets
•Run the Create Accounting Program to process accounting.
•Inquire and drilldown from SLA Pages
II. Enhanced Mass Additions for Legacy Conversions:
• Many attributes have been added to the FA MASSADDITIONS interface table, including:
–Asset life
–Depreciation method
–Prorate convention
–Bonus rule Ceiling name
–Depreciation limit
• Oracle Web Applications Desktop Integrator (Web ADI) has been enhanced to support the following new columns:
–Depreciation Method
–Life in Months
–Basic Rate
–Adjusted Rate
–Prorate Convention
–Bonus Rule
–Depreciation Limit Type
Enhanced Mass Additions for Legacy Conversions Benefits:
You can use the mass additions process to convert data from a previous asset system. Instead of loading the asset information into multiple Oracle Assets tables, load it into the FA_MASS_ADDITIONS table. The Post Mass Additions process can then be used to move the asset information from the table to Oracle Assets. After placing your data in this table, you run the Post Mass Additions program to perform the data import.
III. Automatic Preparation of Mass Additions:
•Consist of default rules and Public APIs that can be used by customers to complete the preparation of mass addition lines automatically
•Auto populate required fields such as Expense Account, Asset Category, and others
Benefits:
The major benefits of this feature are that you can:
•Avoid manual intervention during the Mass Additions prepare process
•Avoid customization and use public APIs to effect custom business logic
To process mass addition lines:
1.Interface Mass Additions Lines from Accounts Payable or any other system
2.Run the Prepare Mass Additions Program
3.Optionally verify Mass Additions data
4.Post Mass Additions
Automatic Preparation of Mass Additions Setup QuickcodesSet up the Rules to Prepare Mass Additions in Quickcodes:
•Use Default: The Asset Category is derived based on the Asset Clearing Account if there is a one to one match in the Asset Category setup. The Expense account is derived based on the Clearing Account by replacing the natural account segment from the Asset Category.
•Use Custom: The Prepare Mass Additions program will use the custom logic coded in the Public API
•Use Custom Energy: Energy industry specific custom rule.
IV. Flexible Reporting Using XML Publisher:
•Major Asset Transaction reports have been modified to support XML publisher
•You can customize report output by modifying seeded templates or by using new templates
XML reporting is available for the following asset reports:
•Asset Transfers Report
•Transaction History Report
•Asset Reclassification Report
•Mass Additions Create Report
•Cost Adjustment Report
•Cost Summary Report
•CIP Summary Report
•Reserve Summary
•Journal Entry Reserve Ledger
•Asset Additions Report
•CIP Capitalization Report
•Mass Additions Posting
•Asset Retirements
Set up Procedure:
1.Query up the concurrent program as system administrator
2.Change the output format to XML
3.Once the output is flagged as XML, submit concurrent request
V. Automatic Depreciation Rollback:
Since release 11i, users have been able to run depreciation for an asset book without closing the period. If additional adjustments are required in the current period, then the user submits a process to roll back depreciation for the entire book, performs the necessary adjustment(s) and then resubmits the depreciation program.
In Release 12, the intermediate manual step of rolling back depreciation for the entire book in order to process further adjustments on selected assets is no longer necessary. As before, you can submit depreciation for the entire book prior to closing the period. If it becomes necessary to process financial adjustments on one or more assets, you may proceed with the transaction normally via the asset workbench or mass transactions. Oracle Assets automatically rolls back the depreciation on just the selected assets (instead of the whole book) and allows the transactions to be processed normally. The assets for which depreciation was rolled back is automatically picked up during the next depreciation run or at the time that the depreciation period is finally closed.
Benefits:
1. It is no longer required to run depreciation rollback program manually.
2. Depreciation rollback is executed only on select assets as required and not on the entire Asset Book, thereby enhancing performance of the program.
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