To continue adding your asset using the Detail Additions process, you must enter financial information in the Books window.
You can also use this window to add an asset to a tax book.
Note: You can use Mass Copy to copy groups of assets to a tax book. See: Tax Book Maintenance.
Prerequisites
Enter descriptive information for a new asset in the Asset Details window. See: Adding an Asset Specifying Details (Detail Additions)
Optionally enter the purchasing information for the new asset in the Source Lines window.
Assign your asset to a corporate depreciation Book.
Enter the current Cost.
Note: If this is a leased asset, and you previously calculated the cost to capitalize for the lease in the Lease Payments window and you have not overridden the result of the capitalization test, Oracle Assets automatically enters the Cost to Capitalize amount in the Current Cost field, and you can change it. If this is a group asset, you cannot update the Cost field. Group asset cost is derived from the sum of all member asset costs.
Enter the Salvage Value.
If you wish to enter a salvage value, select either Percent, Amount, or Sum of Member Assets in the Salvage Value Type field.
If you selected the Percent value type, enter the percentage in the Salvage Value Percent field. This is the percentage of the asset cost to use as the salvage value. When you subsequently adjust the cost of this asset, the salvage value amount is changed proportionally.
If you selected the Amount value type, enter the salvage amount in the Salvage Value Amount field. This is the salvage amount of the asset. When you perform a partial retirement by cost, the salvage value is reduced proportionately.
Select Sum of Member Assets only if you are using the Group Depreciation feature. For more information, see: Create Group Assets Using Detail Additions.
Note: If you plan to use mass copy, you must use the same salvage value type for both the corporate and tax books.
To continue adding your asset using the Detail Additions process, you must do one of the following:
Choose Continue to continue adding your asset. See: Assigning an Asset (Detail Additions Continued).
Optionally, enter or override depreciation information using the tabs in the Books window. Instructions for adding this information are included in the following tasks.
Indicate whether you want to Depreciate the asset.
If you are adding a group asset, indicate whether the group asset should be disabled.
Note: The Disable check box is displayed only if you are adding a group asset.
Specify the date placed in service of the asset.
If necessary, override the Depreciation Method and associated depreciation information defaulted from the category. See: Changing Financial and Depreciation Information.
Optionally specify the Bonus Rule.
Override the prorate convention defaulted from the category if necessary.
Check the Amortize NBV Over Remaining Life check box to amortize an adjustment in the period in which the asset is entered. This check box is available only in the period in which the asset was entered.
Note: Once you save the asset, you cannot change the asset type. If you want to capitalize a CIP asset, use the Capitalize CIP asset window.
Optionally select the depreciation limit Type of your asset. Choices include Amount and Percent. Sum of Member Assets is only available for group assets.
Enter the Limit Amount if you selected a depreciation limit Type of Amount.
Enter the Percent if you selected a depreciation limit Type of Percent.
Enter the Ceiling if you want to limit the recoverable cost used to calculate annual depreciation expense. You can enter a ceiling only for assets in tax depreciation books.
Note: You cannot enter a ceiling if the asset is a group asset or a member asset.
Select the Group Asset tab.
Enter the group asset number in the Group Asset field. The description defaults automatically when you enter the group asset number.
Optionally enter the percentage to use as the reduction rate.
See: Set Up Group Assets in Book Controls and Create Group Assets Using Detail Additions for more information on setting up group assets.
Select the Short Fiscal Year tab.
Check the Short Fiscal Year check box if this asset is a short fiscal year asset.
Enter the Conversion Date of the asset.
Enter the Original Depreciation Start Date of the asset. This is the depreciation start date of the asset prior to conversion.
Choose Continue to continue adding your asset. See: Assigning an Asset (Detail Additions Continued).
Note: The Detail Additions process requires you to provide descriptive, financial, and assignment information in the Asset Details, Books, and Assignments windows.
Choose Assets:Asset Workbench from the Navigator window.
Find the asset you want to add to a tax book.
Choose the Books button.
Enter the tax Book to which you want to assign the asset and tab to the Current Cost field.
Oracle Assets automatically copies the date placed in service from the corporate book; however, if the date placed in service in the corporate book falls in a future period in the tax book, Oracle Assets defaults the date placed in service for the asset in the tax book to the last day of the current tax period.
You can change the financial information defaulted from the corporate book, such as cost, date placed in service, depreciation method, life, rate, prorate convention, ceiling, and bonus rule.
Save your work.