Knowledge Base: Oracle Closing Assets (subleadger)

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Oracle Closing Assets (subleadger)
By mrahayu1

Create, Transfer, and Post Journals <?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" />

Run Accounting after processing all post able records.

1. The following approach may be applied After an asset addition:

2. Run Create Accounting - Assets for the Addition Process Category to send Cost and Cost Clearing lines to GL

3. Run Depreciation without closing the period

4. After depreciation runs, you can run the Create Accounting for the Depreciation Process Category to get the Depreciation Expense and Reserve lines sent to GL

5. If needed you can later update the asset and enter whatever transaction is needed. (for example : cost adjustment). For this particular asset, the depreciation data is automatically rolled back

6. And then run Create Accounting to send to GL the adjustment journal and the reversal journal for Rollback Depreciation (in which the prior depreciation expense is credited and the reserve is debited):

Rerunning depreciation will then depreciate again this asset And Create Accounting will send to GL new Depreciation lines

Reconciling Journals Transfer Process

· Subledger Accounting Program report:

1. Is produced by Create Accounting program

2. Shows subledger journal entries created for successful accounting events

· Journal Entries report (in Posted status mode):

1. includes all transactions that should be posted to General Ledger (i.e. associated transaction type has Post to GL set to Yes)

2. displays:

o details of what is or will be posted to each GL account for a specific period and

o Journals by receivables categories

· Ensure the following is correct

Subledger Accounting Program report total should equal Journal Entries report total

Reconciling Journals Import Process (GL)

1. Journal Import Execution report:

· Is produced by (GL) journal import process

· Shows total debits and credits for the journals it created

2. Posting Execution report: Is produced by (GL) journal posting journals process

3. Unposted Journals report

4. General Journals report

5. Ensure the following is correct: total of these report should equal (what is transferred by Receivables = what is posted by GL)
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Article added 11/07/14.
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