FIXED ASSETS USER MANUAL

FIXED ASSETS – USER MANUAL

Implementation of Management Information System (MIS)

Including Financial Management System (FMS)

ICAR

Version No.: 20.0

Prepared by

IBM Project Team

INDIAN AGRICULTURAL STATISTICS RESEARCH INSTITUTE

(INDIAN COUNCIL OF AGRICULTURAL RESEARCH)

LIBRARY AVENUE, PUSA, NEW DELHI – 110 012 www.iasri.res.in

DOCUMENT RELEASE NOTICE

Fixed Asset – User Manual Document

Version no: 20.0 Release no: All Releases

Date of Release : 19th July 2013

Client : Indian Council of Agricultural Research Project : FMS & MIS Implementation

Author : Sneha Yadav

Reviewer : Amarnath Vankadara Date:

Approved by : Date:

REVISION HISTORY

Document Title: Fixed Asset– User Manual Document

Version No.

Issue Date Change Details Owner Approved By Remarks

1.0 19th July 2013 No Previous Document Sneha 10.0 14th October

2014

Reviewed Version 1.0 and made the applicable changes

Sneha

20.0 23rd May 2015 Reviewed Version 10.0 and made the following changes:

1. Changed the URL of the instance (Page 11)

2. Changed the Group Id concept in buyback solution.(Page 75)

DISTRIBUTION

Copy No. Name Location

1 Sh Devendra Kumar, Dir(Finance) ICAR HQ 2 Sh. G.P. Sharma, Dy. Director(F) ICAR HQ 3 Ms Rashmi R. Rao, Dy. Director(F) ICAR HQ 4 Sh. Radhey Sham, Comptroller, IARI, New Delhi New Delhi 5 Sh SK Pathak, Dy. Director(F) ICAR HQ 6 Ms. Sunita Arya, Sr. F&AO. ICAR Hq. ICAR HQ 7 Dr. Alka Arora, Sr. Scientist, IASRI IASRI, New Delhi 8 Dr. Sudeep Marwaha, Sr.Scientist, Co-PI Project, IASRI IASRI, New Delhi 9 Dr. Shashi Dahiya, Scientist, Co-PI Project, IASRI IASRI, New Delhi 10 Dr. Soumen Pal, Scientist, Co-PI Project, IASRI IASRI, New Delhi

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 1.2LOGGING INTO ORACLE APPLICATIONS ... 10 1.3MANUAL ASSET ADDITION ... 11-19

1.4ASSET 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

Introduction

This document covers the above mentioned contents of the following module:  Fixed Asset

Important Keyboard shortcut

Function/Purpose Keyboard Shortcut

Enter into query mode F11

Query with partial information Prefix or suffix with %

Execute query CTRL + F11

Close/Exit screen F4

Invoke List of Values CTRL + L

Insert duplicate field SHIFT +F5

Insert duplicate record SHIFT +F6

To query the form:

1. For query, first press F11.

2. Execute the query by pressing CTRL and F11.

List of Value (LOV)

LOV is a UI component that facilitates the completion of a text entry field when there are numerous values that may be assigned. LOVs are a useful alternative to drop-down lists, particularly in cases where displaying a long list of selections in a drop-down list would require excessive scrolling.

Search within LOV list

1. Click on the LOV icon. 2. The list of LOV is displayed.

3. If short list then scroll and select the required value. Press OK.

4. If the LOV list is long, then enter any partial/full value and suffix with the ‘%’ in the Find field. The ‘%’ as prefix and suffix is also used where the subsequent word(s) of the total value is used for query.

5. Then click Find button.

6. This displays a shortened list of values that will match the query submitted.

1. 1 Asset Process Overview Description

Description _{Capital Assets can be classified into two types:}

1. Assets purchased from Vendors: As a part of ICAR routine process, assets are procured from vendors for which proper Purchase Order (PO) and bills are created. These assets are linked with stores and bills payable modules. Asset capitalization process starts from bills creation module by running a program called ‘Create mass Addition’.

2. Assets without Bills: These are assets which are received as Gift/Donation or Asset Transfers from other ICAR Institutes). These assets will not have PO and Bills and these assets will be directly capitalized in Assets module.

Assets are classified based on the nature and the depreciation percentage. Depreciation would be automatically calculated by the system periodically.

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 Process Overview Diagram

Asset procured and received in system

Invoice received and matched with Receipt

Invoice accounted and Transferred to GL

Run Create mass addition process

Prepare & Post Mass addition for the asset to be

capitalize

Asset entries posted in General Ledger Asset Capitalization Manual creation (Gift/Donation/ Asset Transfers) Manual Automatic Asset Maintenance/ Depreciation/ Retirement/ Transfer

1.2 Logging into Oracle Applications

Navigation  Open the link for the Oracle Instance http://icarerp.iasri.res.in/

Enter the Username and password as provided (individual user name/password to be used). Password needs to be changed on first time login.

Screenshots and Steps

1.3 Manual Asset Addition

Process Overview Description

 Provision of manually addition of assets has been provided for certain cases such as assets added through donation, Gifts, Transfers etc.

 User would need to capture basic details of assets such as its cost, category, depreciation method and depreciation rate etc in system while adding assets in case of gifts, transfers or donations.

 To perform Manual asset addition in system, steps are mentioned herein.

Screenshot

Click on Asset Workbench

Click here “IARI Assets” Responsibility

Screenshot  Once you click on Asset Workbench, the Find Assets screen will open.

 Enter the Book Name and Click on Additions.

Click on “Additions”

Enter the name of the book in which you want to add the asset

Filling the Asset Details

On clicking ‘Additions’ button, Asset Details form will open.

 Description: Enter the description of the Asset to be added in the Description field. Description is free field where you can enter the name of the Asset to be added.

 Asset Type: Select the asset type as capitalized as you are adding a new asset to the organization.

 Category: Select the category of the asset from the List of Values provided. Select both the major and minor category.

 Source of Funds: Enter the Source of Fund field with the fund where the asset is going to be capitalized, scheme code in case the fund type is plan and the type of procurement i.e. whether it is purchase, gift etc and in case it is case of gift or transfer, enter the source institute code as well.

 Units: Enter the number of units to be procured.

Note: The fields in yellow colour are mandatory fields and are to be necessarily entered without which system will not allow you to proceed. After entering all the fields, press continue button

Once you click on source of fund, this screen opens. Mention the source of fund and scheme Mention the mode of

acquisition. In case it is Gift, source institute shall remain zero and in case of transfer mention the source institute

Filling the Asset Details

Enter the Tag Number for the asset wherever applicable

You can enter the manufacturer detail as well Upon Capturing above mentioned fields, Press “continue” button

Entering other details while

capitalizing

 Once you click on Continue, a form named ‘Book’ will open.

 Here on this screen, enter the Book Name first and press Tab button.

 Current Cost: Enter the Cost of the Asset being added in this field.

 Salvage Value Type: Select the type of the Salvage Value being added i.e. whether you are adding the Salvage Value as amount or as percentage.

 Salvage Value: Enter the Salvage Value if there is any Salvage value of the asset being added.

 Recoverable Cost: This value shall be system generated. You cannot modify it.

 Net Book Value: This value shall be system generated. You cannot modify it.

 YTD Depreciation: In case of Assets acquired as gifts or transfers, enter the depreciation amount which has been already claimed by the previous institute.

 Accumulated Depreciation: In case of Assets acquired as gifts or transfers, enter the depreciation amount which has been already claimed by the previous institute.

 Method Depreciation: The Depreciation rate shall default. Check if it is correct, else enter the correct amount.

 Date in Service: Enter the Date from when the asset is capitalized. This date shall be the date from which the depreciation shall get calculated.

Filling asset details

Click on “continue” Button

Assigning the asset to the employee and location

 Once you click on continue, the system will take you to ’Assignment’ screen.

 Book: Book Name shall be default from the system.

 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 a 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 list of values attached.

 Depreciation Account: Enter the relevant depreciation account with respect to the asset.

 Location: Enter the location of the asset where it will be located.

Filling the Assignment Information

Once you click on Done, the system will generate an asset number for the said asset

Enter the Units to be assigned to the specific employee. Click on “Done”

1.4 Asset Addition - Procurement Process (Mass Additions)

Process overview

 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.

Navigation To run Mass Additions Create:

Click on

Running the Mass

addition request

 Once you click on Requests, the following Screen opens

 Click on Submit a New Request As shown in 1

 Click on Single Request and then click on Ok

2. Click on Single Request and then OK

1. Click on Submit a New Request.

 Once you click on OK, the following screen appears.

 Enter the name of the report as “ Mass Addition Create”

 Enter the parameters as GL Date and Book Name.

Enter the GL date and Book Name and Click on “OK” button

 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

 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.

 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

 Once you click on OPEN, the Mass Additions Screen opens.

 In the Source Tab, you need to enter the following details.

 Queue: Queue at first will be NEW. Change the Queue to POST.

 Category: Category of the asset shall default from the PO created.

 Expense Account: It will also be a default item

 Location: Enter the location of the Asset

 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.

Once Source Tab is done, Click on “Asset details” tab Change the Queue to Post Enter the Location of the asset

 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

 Once you click on depreciation tab, the following screen opens.

 Verify whether all the depreciation details appear properly else change the rate of depreciation and click on Done.

Click on Done after verifying the Depreciation rate and method

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

Click on Post Mass Addition

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.

Click on “Submit” button

Mention the Parameters as Corporate Book

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 Mass Additions Posting report

Asset 235 capitalized worth 50000

1.5

CIP Assets Capitalization

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 Assigned, 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 _{ IARI Asset for Store- >Mass Addition-> Prepare Mass Addition}

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

Screenshot _{ Once you click on Find, the following screen opens.}

Screenshot _{ Once you click on open, the Mass addition screen opens}

 Category, Expense Account shall default from the Invoice.

 Enter the Date of Installation

 Enter the Location of the asset

 After filling all details in source tab, click on asset Details Tab

Click on Asset Details Tab

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

 Once you click on Done, the system will generate a message

 Once this is done, run post mass addition as shown in Mass Addition Process Asset type should

Navigation for Capitalizing CIP Asset

Responsibility: IARI Asset

Navigate to capitalize CIP Assets screen Nav Assets Capitalize CIP Assets

CIP Asset Capitalizatio n

Capitalize CIP asset

CIP Asset Capitalisatio n Process

 Choose the CIP asset(s) you want to capitalize

 Enter the Date Placed in Service. This date will be considered for calculating depreciation.

 Once you click on capitalize, the asset will get capitalized and you can query it from the workbench.

Click on “capitalize” Place a check on

the asset you want to capitalize.

1.6

Business Process – Asset Retirement 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 depreciation 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 done

 Miscellaneous Receipt in Oracle Receivables to record receipt of money for sale.

Process Flow Diagram

Start

Identify Asset to be Retired

Miscellaneous Receipt for Proceeds of sale

Stop

Retire the Asset

Asset Retirement Process Screenshot and Steps Click on “Asset workbench”

Asset Retirement Process Screenshot and Steps . Click on “Find” button

Asset Retirement Process Screenshot and Steps

 Once you click on find, the following screen opens.

 Click on Retirements for the respective asset.

Click on “retirement” button

Asset Retirement Process Screenshot and Steps

 Once you click on retirement, the following screen opens.

 Book: Enter the name of the Book

 Sanction Number: Enter the Sanction Number.

 Retire Date: Enter the Date of retirement.

 Unit: Enter the units to be retired.

 Cost to be retired: Enter the Cost to be retired.

 Proceeds of Sale: Enter the Proceed of Sale.

 Cost of Removal: If there is some cost of removal, enter that.

Asset Retirement Process

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. Retirement Status will be ‘PENDING’ at this moment.

After Retirement ,running Calculate Gain/Loss Program

 Since the asset is retired, run “Calculate Gain or Losses Program”.

 This program calculates the overall gain or loss on the retirement of the asset and updates the Gain/Loss information in the Retirements Window and also updates the Current Cost, YTD Depreciation and Accumulated Depreciation in the Book Window of the Assets Workbench.

 Once this program is completed verify the Gain/Loss amount in the Retirements window for the retired asset.

 Now the Status of the Asset in the retirement window will be displayed as ‘PROCESSED’.

Note: When the depreciation program is submitted at the month end, the system automatically runs the Calculate Gains and Losses

program for calculating the gain or loss on retirement / reinstatement transaction during the month

Viewing the Financial Enquiry after retirement

 Once you have retired the asset, run calculate gains and losses and you can view its financial enquiry and can see that the NBV has become 0 now.

 Query the retired asset in Asset Workbench and find the asset and click on “financial inquiry” as shown below.

Navigation Navigation Assets Asset workbench

First query the asset you have retired on Asset Workbench and click on Find. The Following screen opens.

Viewing Financial Enquiry

Viewing Financial Information of the retired asset

 Once you click on Financial Information, the following screen opens which will reflect the Financial Information related to the 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

Current Cost after retirement shall be zero.

1.7

Asset Transfer (from one institute to other Institute)

Overview  _{First Retire the asset in the source Institute.}

 At the time of selecting retirement type as “TRANSFER”, you should enter the destination Institute “Descriptive Flex Field (DFF)

 Depreciation without closing the period

 Re-capitalize the asset in the destination Institute by using asset workbench

Process Flow Diagram

Start Asset in source institute

Identify Asset (which is transfer to Other Institute)

Retire the Asset (Note: Asset type should be “TRANSFER” and descriptive flex field (DFF) should be “Target Institute”

Reassign to other Institute using Asset workbench

Stop

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 order to bring the current cost of the asset to zero, we will enter the NBV of the asset in the ‘Proceed of Sale’ field.

Asset Transfer from one institute to another

Net Book Value which shall be entered as the proceeds of sale

Navigation For retiring the asset

 Responsibility: Oracle IARI Assets

 Navigation Assets Asset workbench

Retiring the

Asset _ Once you click on Find, the following screen opens showing the asset number you queried. Click on “Retirements” button.

Retiring the

Asset  Once you click on retirement, the following screen opens.

 Fill all the yellow fields like Book Name, Sanction Number, Retire Date, Retirement Type, Cost to be retired which shall be 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.

Enter the NBV of the asset to be retired as proceed of sale. Fill the DFF with the institute where the asset is to be transferred. Click on DONE

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

Transferred

asset  Once you click on Asset Workbench, the Find Asset screen opens.

Click on Asset Workbench

Capitalization Screenshot

 Enter the Asset Book and click on Additions.

Filling the asset addition

 Enter here mandatory information denoted by yellow fields.

 Description: Enter the description of the asset added. Click on “Additions”

form in the New Institute

 Category: Enter the category of the asset in which it is to be capitalized.

 Source of Fund: Enter the Source of Fund under which the asset is going to be capitalized as shown in the screenshot below. Enter the Source of Fund, Scheme, Mode of acquisition and the Institute from where the asset is coming.

 Once you have entered all the details, click on continue.

Asset Details Form

Screenshot

Once you click on Source of Fund, You need to enter the parameter for the same.

Select here “source institute”.156 is for IARI

Screenshot _{ Once you click on Continue, the following screen opens.}

 Current Cost: Enter the cost of the asset which was the cost to the previous institute.

 YTD Depreciation and Accumulated Depreciation: The depreciation already claimed by the previous institute. Enter the date placed in service. Check for the rate of Depreciation.

Screenshot _{ Once you click on continue, the assignment screen opens where you can assign the asset to some employee. Once you have}

Click on

“Continue” button

Enter the amount of depreciation charged in source institute.

Enter the date placed in service Verify if the default

method and rate of depreciation is correct else you can modify it.

Cost shall be the cost to the previous institute

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 number as well.

1.8

Business Process: Buyback Process

 Buyback means when we are replacing some old assets with the new assets for a Particular corporate book. Here the selling value of the old asset should be adjusted when we are invoicing and paying for the bill.

 For buyback you need to retire the asset in the system.

 The stores Department will create a PO with the buyback amount.

 The Bill will be created for the said PO.

 After the bill has been accounted, the Create Mass Addition program shall be run .

Navigation Responsibility  IARI Asset for Stores Asset Workbench Find Asset to replace: Asset Number

Finding the asset to be replaced in buyback

Retiring the existing asset

 Once you click on Find, the following screen opens.

 Click on Retirement.

Click on “Retirements” button

Retirement

Process  Once you click on retirement the following screen opens.

 Book: Enter the Book Name here in which the asset to be retired is there.

 Retire Date: Enter the date of Retirement.

 Retirement Type: Retirement Type shall be selected as Buyback.

 Proceed of Sale: Enter the proceeds of sale.

Assets – User Manual Version 20.0 72 of 114 Screenshot

Enter the Retirement Type as Buyback

Navigation for PO For Buyback

 Glimpses of PO Creation Process.

 Responsibility India Local Purchasing

 Nav Purchase orders Purchase orders

 Raise PO with buyback option (DFF at line level) and approve it from Purchasing responsibility

 NOTE: this process will be done by Purchase Department.

Screenshot

DFF The PO shall be

created with the Buyback amount.

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.

 After PO Program, Import Journal Program shall be run by the Accounts Department.

 Then click on Submit button.

Glimpses of Receipt creation

 Create Receipt from Purchasing Responsibility

 NavigationIndia Local Purchasing Responsibility-> Receiving Receipts

Insert the Group Id of the Institute

by Stores  NOTE: This activity shall be done by the Purchase Department.  Glimpses of Bill Creation by DDO

 Responsibility IARI Payable Manager

 NavigationBill Entry Bills

 In Accounts Department, Bill shall be created against the buyback PO

Assistant 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

Enter negative amount line

Preparing Mass addition for the newly created asset

 Search for the asset with its Bill number and queue as NEW Click on Prepare

Enter the Book Name and Find the bill Number created and click on Find

Preparing Mass Addition

Preparing Asset

 Once you click on Open, the Mass Addition screen opens.

 Change the Queue to Post. Category and Expense Account shall default from PO and Bill creation.

 Date of Installation and location of the asset have to be entered.

 Once all the information in Source, Asset and Depreciation tab have been verified, click on Done.

Click on Done

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.

Once Post Mass addition is done, you can query the asset with the Invoice number from Asset Workbench as shown in above processes

Enter the Parameters as Corp Book

1.9

Running various Reports in Fixed Asset Module

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  Procedure to run all the Reports

 View-Request- >Submit a New Request

Once you click on Request, this window will open.

Screenshot

Select the name of the Report to be run out of the given list of reports

Running

Reports For example, we select ICAR Fixed Asset Schedule Report:

Enter the Parameters for the respective reports.

Click on OK

Click on Submit

Screenshot  Procedure to run all the Reports

 IARI asset Responsibility

Once you click on Request, this window will open.

Once you click on Submit a New Request, another window opens. Click on Single Request.

Lets say we select ICAR Fixed Asset Schedule Report

Select the name of the Report to be run out of the given list of reports

Enter the Parameters for the respective reports.

Click on OK

Click on Submit

System will generate the Request ID and will ask if you want to submit another request.

Once you Click on No, the following screen opens.

Click on Find to Find the Report request submitted by you.

1.10 Running Depreciation

Click on View Output

Navigation  Responsibility IARI Assets-> Depreciation- >Run Depreciation Process and

Screenshot

Running Depreciation

 Once you click on run Depreciation, the following screen shall open.

 Upon clicking on the Book LOV, Institute will default. Click on Run

 Latest Open Period shall be default

 You can either close the period along with running depreciation or can run depreciation without closing the period.

 Click on Run

 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.

1.11 Add to Asset Functionality

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  Responsibility IARI Asset for Store

 Mass Addition->Prepare Mass addition

Screenshot

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 Click on Prepare

 Click on Find

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

Enter the Queue as NEW

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

Screeshot  Once you click on Find, the following screen opens

 Click on Done and the asset will be added to the said asset

Click on Find

Screenshot  Once you have click on Done , the Mass Additions Summary screen opens.  Click on Open to prepare the asset for addition

Click on Done

Add to Asset Screenshot

 Once you click on Open, the following screen opens

 Change the queue to Cost adjustment as it is a cost adjustment entry.

 Enter all the information like category,location in the source tab as explained above in prepare mass addition process

Click on Open

 Check for the depreciation rates in depreciation tab.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.

1.12 Split Asset

Click on Done

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  IARI Asset for Store Responsibility->Mass Addition->Prepare Mass Addition

Screenshot

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

Enter the Book Name

Change the queue as NEW

Enter the Invoice Number

Click on Find

Split asset  Once you click on Find, the following screen opens

 Click on Open

Click on Open

 Once you click on open, the following screen opens.

 Enter all the information

 In asset detail tab, change the unit to the number of assets you want it to be split into. Lets say we change the number of units to 5.

 Click on Assignment tab to assign the 5 assets

Change the number of units

Split Asset  Once you click on Assignment, the following screen opens.

 Assign the asset to the employees and to location

 Enter the Unit to be assigned, employee name, depreciation account and location.

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

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

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