Learn Step by Step Assets Workbench windows to add new assets to the system, and to perform transactions, such as retirements, adjustments, source line adjustments, and transfers.
N:- Assets -> Asset Workbench
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| Asset Workbench |
Asset Descriptive Details
This section describes selected
fields on the Asset Details window.
Asset Number
An asset number uniquely
identifies each asset. When you add an asset, you can enter the asset number,
or leave the field blank to use automatic asset numbering. If you enter an
asset number, it must be unique and not in the range of numbers reserved for
automatic asset numbering. You can enter any number that is less than the
number in the Starting Asset Number field in the System Controls window, or you
can enter any non-numeric value.
Description
Use list of values to choose a
standard description you defined in the QuickCodes window, or enter your own.
Tag Number
If you enter a tag number, it must be unique. A tag number
uniquely identifies each asset. For example, use the tag number to track asset
barcodes, if you use them.
Category
Oracle Assets defaults
depreciation rules based on the category, book, and date placed in service. All
assets in a category share the same asset cost accounts and depreciation
accounts for each depreciation book.
Category Descriptive
Flexfield
Descriptive flexfields allow
you to collect and store additional information about your assets. For each
asset category, you can set up a descriptive flexfield to prompt you for
additional information based on the asset category you enter. For example, you
might want to track the license number for automobiles, but the square footage
for buildings. When you specify a category for a new asset, you can enter your
information in a descriptive flexfield.
Asset Key
The asset key allows you to
group assets or identify groups of assets quickly. It does not have financial
impact; rather it can be used to track a group of assets in a different way
than the asset category. For example, use an asset key to group assets by
project.
Asset Type
Valid asset types are:
Capitalized:
Assets included on the company
balance sheet. Capitalized assets usually depreciate. Charged to an asset cost
clearing account.
CIP
(Construction-In-Process):
Unfinished
assets being built, not yet in use and not yet depreciating. Once you
capitalize a CIP asset, Oracle Assets begins depreciating it. Charged to a
construction-in-process clearing account.
Expensed:
Items that do NOT depreciate; the
entire cost is charged in a single period to an expense account. Oracle Assets
tracks expensed items, but do not create journal entries for them. Oracle
Assets does not depreciate expensed assets, even if the Depreciate check box in
the Books and Mass Additions Prepare windows is checked for that asset.
Group:
A group asset is a collection of member assets. You
can add member assets to a group asset, transfer assets out, or between groups
assets. Group asset cost is the sum of all the associated member assets costs.
A group may contain many individual assets that were placed into service in
different years, but share one depreciation account maintained for the group.
Group asset depreciation, known as group depreciation, is computed and stored
at the group level.
Units
The number of units represents the number of components
included as part of an asset. Use units to group together identical assets. For
example, you might add an asset that is composed of ten separate but identical
chairs. If you are adding an asset, accept the default value of one, or enter a
different number of units.
Parent Asset
You can separately track and
manage detachable asset components, while still automatically grouping them to
their parent asset. For example, a monitor can be tracked as a subcomponent of
its parent asset, a computer. You can specify a rule in the Asset Categories
window by which Oracle Assets defaults the life for a subcomponent asset based
on the category and the parent asset life.
Enter the parent asset to which
your asset belongs if you are adding a subcomponent asset. The parent asset
must be in the same corporate book. If you are adding a leasehold improvement,
enter the asset number of the leased asset. To properly default the
subcomponent life, add the parent asset before the subcomponent.
You must set up the
depreciation method for the subcomponent asset life before you can use the
method for that life. If your subcomponent asset uses a depreciation method of
type Calculated, Oracle Assets sets up the depreciation method for you. If the depreciation
method is not Calculated and if it is not already set up for the subcomponent
life rule default, Oracle Assets uses the asset category default life.
Oracle Assets does not
automatically perform the same transaction on a subcomponent asset when you
perform it on the parent asset. Use the Parent Asset Transactions Report to
review the transactions that you have performed on parent assets during a
period.
Warranty Number
You can set up and track
manufacturer and supplier warranties online. Each warranty has a unique
warranty number. Use the list of values or enter a previously defined warranty
number to assign the asset to the coinciding warranty.
Lease Number
You can enter lease information only for an asset
assigned to an asset category in which the Ownership field is set to Leased.
You must define the lessor as a valid supplier in the Suppliers window, and
define leases in the Lease Details window, before you can attach a lease to an
asset you are adding in the Asset Details window
If you are entering a leasehold
improvement and you completed the Parent Asset field in the Asset Details
window, Oracle Assets displays the related lease information from the parent
asset. You cannot provide separate lease information for the leasehold
improvement.
Ownership
You can track Owned and Leased assets.
Choosing the value Leased from the Ownership list does not automatically allow
you to enter lease information. You can enter lease information only if you
assign the asset to a leased asset category.
If the lease has a Transfer of
Ownership option, you can change the value of the Ownership field from Leased
to Owned, even when the lease is attached to an asset. Changing the ownership
of the lease does not affect the lease or any other financial attributes of the
asset.
In Use
The In Use check box is for
your reference only. It indicates whether the asset is in use. For example, a
computer in storage still depreciates because it becomes obsolete over time
whether or not it is in use. Use this check box to track that it is not in use.
In Physical Inventory
When you check the In Physical
Inventory check box, it indicates that this asset will be included when you run
the Physical Inventory comparison. When you set up categories, you define
whether assets in a particular category should be included in physical
inventory. You can use the In Physical Inventory check box in the Asset Details
window to override the default.
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