Oracle Fixed Asset Journal Entries

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Fixed Asset Journal Entries, Account Definition Navigation and Reconciliation Report Details

Transaction Type	Reconciliation Tool	Definition Screen
Addition
-Asset Cost Account  Dr -Asset Clearing account  Cr	Annual additions report - Original cost.         Additions by source report - Original cost         Cost detail report.         Cost clearing reconciliation report-Cleared cost	-(Set up>Asset system>Asset categories) -Clearing account defined by admin.
Monthly depreciation
-Depreciation account   Dr -Accumulated depreciation   Cr	Journal entry reserve ledger report- Depreciation amount.         Journal entry reserve ledger report- Depreciation reserve.	(Asset WorkBench>Find the asset>Assignment) (Set up>Asset system>Asset categories)
Asset cost adjustments
-Asset cost account Dr -Asset clearing account Cr	Cost detail / summary report -Adjustments.         Cost adjustment report-Net change         RX-only: Asset Cost Balance Report-Adjustment         Cost detail report.         Cost clearing reconciliation report - cleared cost.	(Set up>Asset system>Asset categories) -Clearing account defined by admin.
Asset retirement
-Accumulated depreciation Dr -Net book value retired        Dr -Asset cost account              Cr	Reserve Summary Report-Retirement         RX-only: Retirements Report-NBV retired         RX-only: Retirements Report-Cost retired         Cost detail report.	(Set up>Asset system>Asset categories) (Set up>Asset system>Asset categories)
Add CIP asset
-CIP cost account  Dr -CIP clearing accountCr	CIP detailed report-Ending balance.         CIP detailed report-Additions column.	(Set up>Asset system>Asset categories) (Set up>Asset system>Asset categories)
CIP capitalization
-Asset cost account    Dr -CIP cost account      Cr	RXi: Asset listing by period report- Cost.         RXi: Fixed Asset Book- Cost.         RXi: Capitalizations Report- Cost	(Set up>Asset system>Asset categories) (Set up>Asset system>Asset categories)
Reinstating asset
-Asset cost account   Dr -Accumulated depreciation  Cr -Net book value retired    Cr	Reinstated assets report– Cost reinstated         Reinstated assets report-Reinstated reserve         Asset retirement report-Net book value retired	(Set up>Asset system>Asset categories) (Set up>Asset system>Asset categories)
Asset category changing/transfers
-New asset category cost account. Dr -Old accumulated depreciation account.      Dr -New depreciation expense Account       .Dr -Old asset category cost Account.        Cr -New accumulated depreciation account     Cr -Old depreciation expense   account.       Cr	Asset transfer reconciliation report- Cost         Cost detail report-Re class/Transfers         Asset reclassification reconciliation report-Depreciation reserve.                   Account reconciliation ledger –Depreciation amount.                   Asset transfer reconciliation report- Cost         Cost detail report-Re class/Transfers         Asset reclassification reconciliation report -Depreciation reserve                   Account reconciliation ledger- Depreciation amount	(Set up>Asset system>Asset categories) (Set up>Asset system>Asset categories) (Asset WorkBench>Find the asset>Assignment) (Set up>Asset system>Asset categories) (Set up>Asset system>Asset categories) (Asset WorkBench>Find the asset>Assignment)
Depreciation adjustment
-Depreciation expense account   Dr -Depreciation expense account  -(+Adjustment)   Dr -Accumulated depreciation account.   Cr	Journal entry reserve ledger report - Cost         Journal entry reserve ledger report - Cost                   Journal entry reserve ledger report -Depreciation reserve	(Asset WorkBench>Find the asset>Assignment) (Asset WorkBench>Find the asset>Assignment) (Set up>Asset system>Asset categories)
Available accounts

 *** Cumulative cost/depreciation/retirement/adjustment/transfer values can be view by using cost detail report.