R12 Fixed Assets Issues and Resolutions

1. Some R12 Fixed Assets Issues and Resolutions
Eng. Baker Khader Abdallah, PMP, MBA
ERP Consultant
1. I wanted to add a new asset line from AP (Mass Addition), to the existing
asset in FA but wrongly I created a new asset in FA and new asset
number is already assign. How handle this issue? (I want to perform now
add this new asset to the existing asset as a subcomponent), Please
explain the treatment in FA and AP invoice which is already transferred
to FA.
Resolution:
2. Depreciation Allocation for each cost center if the asset is in use for
more than one cost center in a period.
Explanation: Suppose on Asset (Car or Crane etc.) was there in different cost
centers in a month, like in Jan the asset was used first 10day at Cost Center
100, second 10days at Cost Center 200 and last 10days at Cost Center 300. So
at the end of the month when I run depreciation I want the system to give me
output with cost centered wise like. If depreciation is 600 USD so Cost Center
300
Accumulated Depreciation 600
To Depreciation (Cost Center 100) 200
To Depreciation (Cost Center 200) 200

2. To Depreciation (Cost Center 300) 200
Cost Center wise Allocation.

3. 4. Insurance Premium amount and duration (start and end dates) should be
capture in Insurance details and system should alert before month of expiry
of insurance.
How to enter the Insurance Company information in insurance form?
Resolution:

4. 6. I want to enter invoice in USD and pay in INR is it possible? and if not
what is the workaround?
Explanation:

5. 7. The concept of Group Assets and the setups for Group Assets in FA?
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.

6. 8. AP/AR Netting Accounting Entries at every level and at the time of final
setoff.
Explanation:
Resolution:

7. 9. The Difference Between Accounting Entries and Events in R12 and
advantages of this concept.
Explanation:
Resolution:

8. 10. The Treatment of Fixed Assets converted to Current Assets
Explanation: Suppose Land is my fixed asset in FA now I am doing transactions
on land so now in BS I want to show it as an Current Asset (CA) so how to
handle this in FA other than retirement from FA.
Explanation:
Resolution:

9. 11. The treatment of Payroll payment from AP.
Explanation:
Resolution:

10. 12. How to handle the monthly revaluation for foreign currency
transactions in AP and the procedure.
Explanation:
Resolution:

11. 13. Invoice Approval Workflow in AP and Payment instruction procedures.
Explanation:
Resolution: