I found a example in one of the Oracle Docs. Below is the example. You place an asset in service in Year 1, Quarter 1. The asset cost is $4,000, the life is 4 years, and you are using straight-line depreciation. In Year 3, Quarter 3, you sell the asset for $2,000. The cost to remove the asset is $500. The asset uses a retirement convention and depreciation method which take depreciation in the period of retirement. You retire revaluation reserve in this book. Can you explain here how the Revaluation Reserve is calculated?
@arfiashoeb6288
4 жыл бұрын
Nice explanation. You make understanding the concepts easy with these videos. Can you please make a video on various depreciation methods in FA
@OracleEbizandFusionVideos
4 жыл бұрын
Sure
@ayatelnabawy6696
7 ай бұрын
Hi Arvind, Why don't we run only (Calculate Gain & Loss) program and then Create Accounting; why do we need to run the depreciation program in the middle?
@OracleEbizandFusionVideos
7 ай бұрын
Running of Depreciation program will take care of running of Calculate Gain or Loss as well..Also, there is no harm in running Depreciation program any number of times... If there is a asset where Depreciation is already calculated, then system will not duplicate the depreciation amount if we re-run the depeciation program.
@ramamohan9957
6 жыл бұрын
Thanks for update. Please update more Oracle financial modules videos.
@OracleEbizandFusionVideos
6 жыл бұрын
Sure. Please stay tuned to my channel
@habakuc
10 ай бұрын
Hello Arvind, could you explain why the cost retired of a fully retired asset needs to be same as current cost which is same than the original cost?, shouldnt the retired cost be original cost minus acumulated depretiations?.
@OracleEbizandFusionVideos
10 ай бұрын
I think your statement itself has the answer... What you are referring is Cost retired i.e. what is the original/current cost which you are planning to retire... Anyways, after retirement, system will take care of reversing the corresponding accumulated depreciation account
@swethakandhukuru3865
6 ай бұрын
Hi Arvind, I have retired the Assets 3 months back. Now I want to reinstate some of them. How can I get those Mass transaction number s. Could you please let me know.
@OracleEbizandFusionVideos
6 ай бұрын
Try to check if Asset Retirements report will help you with the information which you are looking for?
@ghodighosh9050
3 жыл бұрын
In case the depreciation is run before the retirement for the period, will the asset depreciation be included in the Asset Retirement?
@phuongthao6004
9 ай бұрын
Hi sir, I retire an asset but with the wrong date, so I reinstate it and retire again with the correct date. Asset Register is showing Negative Net Book Value which should be zero. How to fix it?
@OracleEbizandFusionVideos
9 ай бұрын
I am assuming some kind of data corruption happened.. Better raise a Oracle SR
@martinez78245
4 жыл бұрын
What if did a partial retirement twice for the same asset twice? I get an error " You must be on the last record to create a new record". What does that mean?
@OracleEbizandFusionVideos
4 жыл бұрын
Once the first partial retirement is done, try to run Calculate Gain or loss program and then try to do second partial retirement and see if it works
@khokanpatra8983
Жыл бұрын
Hi, Thanks for your video, I have done one asset partial retirement want to do reinstate but the reinstate option in asset workbench is not enable. Could you please advise.
@OracleEbizandFusionVideos
Жыл бұрын
Is this happening only for one specific Asset or you have same issue for all other partially retired assets within this Asset book. If the issue is across many other assets as well, then check if Reinstatement allowed checkbox is checked within Asset Book
@nav123und
3 ай бұрын
@@OracleEbizandFusionVideos Hi Arvind, I am also having the same issue. The reinstate tab is grey out.
@TheJanjez
3 жыл бұрын
How do I retire part of an asset? For example, I sold off the body of a trailerr .. how do I record it
@OracleEbizandFusionVideos
3 жыл бұрын
Thats called Partial Retirement... When you retire the asset, then under Cost of the asset to be retired, enter the cost of the body of the trailer in your example under Cost to be retired
@gervith103
4 жыл бұрын
I have retired assets but when I go to asset workbench -> retirement, the reinstate option is not available (filled with grey color). When i pull the trans number from asset retirement report I can't find the transaction in window "create and reinstate window". I also checked in transaction history that the retirement has status processed. I tried to run calculate and loss a few time. Could you please advice? Asset was retired in current period.
@OracleEbizandFusionVideos
4 жыл бұрын
After navigating to Asset Workbench --> Retirement button --> Did you query the existing retired transaction and then the "Reinstate" button is grayed out?
@gervith103
4 жыл бұрын
@@OracleEbizandFusionVideos I found solution. Go to asset, retirement, click on book but dont choose it, Press ctrl plus f11, then reinstate button is available
@OracleEbizandFusionVideos
4 жыл бұрын
Great to hear that your issue is resolved
@sumitwani1906
6 жыл бұрын
What is the difference between secondary ledger and reporting ledger? Could you please answer?
@OracleEbizandFusionVideos
6 жыл бұрын
You go for Secondary ledger if any of the below are different from your Primary ledger:- COA Calendar SLAM If your requirement is to have just different currency for reporting purpose, then go for Reporting ledger. In R12, As soon as you run translation process in primary ledger, system will automatically create a reporting ledger for that currency
@rahulraniyal3609
5 жыл бұрын
Hi What are the Clearing A/c and in case Asset is added not through AP module how will Asset Clearing A/C will be knocked off?
@OracleEbizandFusionVideos
5 жыл бұрын
Hi, if the asset is not added through AP, then Asset clearing account needs to be knocked off manually by passing a manual journal entry in GL.
@sateeshkumar-ts1sm
3 жыл бұрын
Hi Aravind, is it mandatory to do Misc receipt and AP invoice manually for every asset retirement to balance accounting entries.
@OracleEbizandFusionVideos
3 жыл бұрын
I did not get you... why do you want to do Misc receipt and AP Invoice for Asset Retirement?
@adnanahmed6567
5 жыл бұрын
How to retire differnt assets against one sale receit , like 50 assets sale as scrap against 50 dollar . is need to retire idividual or can retire as group ,while the assets belong to different location,,cost ,expense as well as categary
@OracleEbizandFusionVideos
5 жыл бұрын
If you want to retire multiple assets in a single go, you can use Mass Retirement functionality
@ssingh18
5 жыл бұрын
I am receiving error: Error message of "Full Retirement cannot be overlapped to prior transactions.Please change the retirement date." could you please suggest here.
@OracleEbizandFusionVideos
5 жыл бұрын
Looks like you performed some transactions and then tried prior dated retirement. As per the error message, change the retirement date and then retry...
@anandkhangarot8694
2 жыл бұрын
Hi Arvind, i have capitalised 3-4 invoice wrongly, asset no.have already been generated and after 2 months it came into knowledge. Is there any options that I can reverse the capitalisation.
@OracleEbizandFusionVideos
2 жыл бұрын
Unfortunately, it's too late... Probably, you need to retire the asset and also you might need to pass manual journal entry in GL to reverse the depreciation charged
@anandkhangarot8694
2 жыл бұрын
@@OracleEbizandFusionVideos Thanks for your response, but I am passing JV at Sub Ledger level and doing negative cost adjustment with asset wrongly created. Hope this will work. Any suggestions from your side for this treatment.
@pradeepchalike6931
4 жыл бұрын
Hi Arvind, Can you please clarify my doubt regarding, for populating Cost of removal clearing Account ( in AP) and Proceeds of Sale clearing Account (in AR) do we need any setup in respective modules in AP /AR. is there any additional process to get the data in AP/AR or Automatically system will populate those data?
@OracleEbizandFusionVideos
4 жыл бұрын
There are no additional setups in AP and AR... But when you are creating AP invoice or AR receipt, you need to manually enter these accounts... One part will be sent to GL from FA and other part will be sent from AP/AR to GL and hence these accounts (i.e. Cost of Removal Clearing account and Proceeds of Sale Clearing account will be knocked off to zero in GL
@pradeepchalike6931
4 жыл бұрын
@@OracleEbizandFusionVideos Thanks for your reply
@ghodighosh9050
6 жыл бұрын
Nice video.. Can you also brief us about Revaluation and how the revaluation reserve account gets hit in Accounting for FA. Also can you show us the difference between Amortization and Depreciation with an example and accounting.
@OracleEbizandFusionVideos
6 жыл бұрын
Sure. I will try to create my next video on this and update you
@OracleEbizandFusionVideos
6 жыл бұрын
Please find below the video on FA Revaluation process and Reval reserve:- kzitem.info/news/bejne/o3d31H2VhpZhZpg
@mohammedthalha3287
4 жыл бұрын
Hello sir, i've a doubt. It is said that Proceed of sale and proceed of sale clearing are defaulted from 'Book Control', but in book control we give only Natural account, can u tell me from where the Account code combinations are getting defaulted while running create accounting??
@OracleEbizandFusionVideos
4 жыл бұрын
Other segments are defaulted from "Account Generator Default" under Book Controls
@azadsable2527
4 жыл бұрын
Retirement and Disposal are same in R12, or there is any diffrence in the process
@OracleEbizandFusionVideos
4 жыл бұрын
Its same
@ghodighosh9050
5 жыл бұрын
What is the us of Revaluation Reserve Retired account ? Can you explain the impact of Retirement convention?
@OracleEbizandFusionVideos
5 жыл бұрын
Oracle FA uses Retirement convention to determine the depreciation amount to be considered in the last year of life of the asset based on retirement date. Basically prorate date from Retirement convention is used to degtermine the depreciation amount in the last year of life of the asset.
@nav123und
3 ай бұрын
Hi Arvind, My reinstate tab is gray out. Do you know how to fix it?
@OracleEbizandFusionVideos
3 ай бұрын
In which period was the Asset created and in which period was the Asset retired?
@nav123und
3 ай бұрын
@@OracleEbizandFusionVideos The asset was capitalized in September 2020 and retired in April 2024.
@OracleEbizandFusionVideos
3 ай бұрын
In which period are you planning to re-instate? Also, is the issue which you are facing is in EBS or Fusion?
@udaysl
5 жыл бұрын
Very helpful. Thanks. Any videos on APIs too?
@OracleEbizandFusionVideos
5 жыл бұрын
On What API's are you looking for Videos?
@raghavendrakavali8801
4 жыл бұрын
Hi Sir, I've a doubt, where is the loss on sale of 28,116 in the journal entry in full retirement.
@OracleEbizandFusionVideos
4 жыл бұрын
In the journal entry you can see Loss on Retirement account is debited with 32666.68+450 and credited with 5000... So net balancing figure is 28116.68 (i.e. 32666.68+450-5000)
@raghavendrakavali8801
4 жыл бұрын
Thank you Sir
@mart9210
4 жыл бұрын
What can I do if I want to stop depreciation on an asset held for sale?
@OracleEbizandFusionVideos
4 жыл бұрын
Query for the asset in Asset workbench and then uncheck the Depreciation checkbox so that system will stop calculating depreciation on that asset
@rahulraniyal3609
5 жыл бұрын
When do we Run Create accounting and why there is need for it?
@OracleEbizandFusionVideos
5 жыл бұрын
For every transaction created in any financial modules, there is a business event generated in the system and in order to generate accounting entries for these business events, we need to run Create Accounting program. In general, this program scheduled to run overnight in any client environment
@jasminocenar5839
6 жыл бұрын
Hi can I reistate the asset after closing the asset module? For example I retired the asset in Aug-18 then after closing the asset module I decided to reinstate the asset in Sep-18... is this possible?
@OracleEbizandFusionVideos
6 жыл бұрын
Hi, Yes, thats a normal business scenario and its very much possible
@booshuyi4388
3 жыл бұрын
Hi, Is it possible to reinstate an asset which is retire in prior year? If the asset require to reinstate but the asset had been fully-retired, is it possible to reinstate also?
@OracleEbizandFusionVideos
3 жыл бұрын
Unfortunately, Oracle do not allow re-instating of the asset which was retired in prior year....Yes, asset fully retired in the current year can be reinstated
@booshuyi4388
3 жыл бұрын
@@OracleEbizandFusionVideos If the fully-retired asset require to do reinstate but for prior period.....It also not able to reinstate right?
@OracleEbizandFusionVideos
3 жыл бұрын
@@booshuyi4388 You should be able to reinstate Asset reitred in prior period (as long as it falls in current fiscal year)
@govardhanramakrishnappa5309
3 жыл бұрын
Hello sir, I have reinstated an asset and again did partial retirement by cost and adjusted units in assignment... But now again I need to reinstate.. Since I Need to retire the asset by units not by cost.. Can u plz suggest me if it s possible? How can I reverse the asset transfer?
@OracleEbizandFusionVideos
3 жыл бұрын
I understand your question regarding reinstatement...In what way is this linked to reversal of asset transfer? Are you mixing up two different transactions or am i missing something?
@govardhanramakrishnappa5309
3 жыл бұрын
@@OracleEbizandFusionVideos thanks for the reply., after retiring asset partially by cost.. I went n adjusted the particular unit in assignments, where I transferred the units to other unit to adjust.. But now I want to retire the asset by units not by cost, since I have already reinstated n performed partial retirement by cost n adjusted units in assignment. Can I again reinstate the asset n retire by units?
@Raj-xw1lv
5 жыл бұрын
Please let me knw the account nature of cost of removal clearing and cost of removal account and proceeds of sale clearing?
@OracleEbizandFusionVideos
5 жыл бұрын
In general, Clearing accounts should be setup as Balance Sheet account (i.e. either Asset or Liaibility). So, Cost of Removal Clearing and Proceeds of Sale Clearing accounts should be setup as either Asset or Liability and Cost of removal account will be setup as Expense Account.
@Raj-xw1lv
5 жыл бұрын
Oracle E-Business Suite Functional R12 thanks lot sir
@PavanVasireddy-tl2qr
Жыл бұрын
Hi Sir, How can I restrict dont want to move tax line to Fa through mass addition... And can we consider both are assets?
@OracleEbizandFusionVideos
Жыл бұрын
Then Probably try to uncheck "Track as an Asset" check box for the Tax line in AP Invoice Line Distributions and run FA Mass additions process and check that the Tax line will not be pushed to FA
@PavanVasireddy-tl2qr
Жыл бұрын
@@OracleEbizandFusionVideos Thanks for the reply sir
@PavanVasireddy-tl2qr
Жыл бұрын
How can we control for bulk invoice
@OracleEbizandFusionVideos
Жыл бұрын
At first, can you confirm me f the above solution worked for one Invoice?
@PavanVasireddy-tl2qr
Жыл бұрын
@@OracleEbizandFusionVideos Tax line is appeared in FA, Even uncheck "Track as an Asset" check box for the Tax line in AP Invoice Line Distributions ...
@Raj-xw1lv
6 жыл бұрын
Can we do the retirement in prior closed period..?suppose I have added asset in Dec-17 and now today date m going to retired in Apr-17...is it possible?
@OracleEbizandFusionVideos
6 жыл бұрын
No. Its not possible. Logically if the asset is added in Dec-17, then system cannot allow you to retire the asset with effective date of prior period
@Raj-xw1lv
6 жыл бұрын
Oracle E-Business Suite Functional R12 Apologies for some mistake while asking questn We have added asset in Dec-17 and today we are going to retire an asset in April-18 month...now its possible for it? Warm Regards Anurag
@OracleEbizandFusionVideos
6 жыл бұрын
Absolutely its possible to retire an asset in Apr-18 which was added in Dec-17
@Raj-xw1lv
6 жыл бұрын
Oracle E-Business Suite Functional R12 -Thanku sir you always have been great help to me..😀
@OracleEbizandFusionVideos
6 жыл бұрын
You are welcome
@Raj-xw1lv
6 жыл бұрын
And last thing i would like to ask why proceed of sale comes on Credit side?
@OracleEbizandFusionVideos
6 жыл бұрын
Proceeds of Sales is your revenue/income and as per below accouting rule your income is credited:- Nominal Account Rule:- Debit all Expenses and Losses Credit all Incomes and Gains
@Raj-xw1lv
6 жыл бұрын
Oracle E-Business Suite Functional R12 Thanks😀
@Raj-xw1lv
6 жыл бұрын
Please let me knw the account nature of cost of removal clearing and cost of removal account?As per my understanding cost of removal should be expense and cost of removal clearing must be liability.
@happinessisachoice2733
4 жыл бұрын
Hi Sir, Can I reinstate asset that was retired in previous fiscal year?
@OracleEbizandFusionVideos
4 жыл бұрын
No. You cannot reinstate the asset which was retired in previous fiscal year
@happinessisachoice2733
4 жыл бұрын
@@OracleEbizandFusionVideos Thanks a lot. Also I am working on cloud FA. we are going to create interface for reinstatement. I notice for that we need retirement number however that can only be obtained manually from asset inquiry page. Is there any report which we can use to get the same?
@OracleEbizandFusionVideos
4 жыл бұрын
@@happinessisachoice2733 Check if Asset Retirement report is giving you the retirement number
@happinessisachoice2733
4 жыл бұрын
@@OracleEbizandFusionVideos I have checked it sir,.none of the reports give retirement number
@happinessisachoice2733
4 жыл бұрын
@@OracleEbizandFusionVideos is partial reinstatement possible
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