How to Enter Opening Balances for the FA Module Without Depreciating for the Opening Balance Period — Cloud Customer Connect
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How to Enter Opening Balances for the FA Module Without Depreciating for the Opening Balance Period

in Assets 1 comment

Summary:

How to upload FA balance with no

Content (please ensure you mask any confidential information):

I need guidance on the correct process for entering opening balances in the Oracle FA (Fixed Assets) module while ensuring that depreciation is not calculated for the opening balance period.

Here's the scenario:

Go-live date: January 1, 2025.
We need to input the opening balances as of December 31, 2024.
Depreciation for December 2024 should not be calculated, as it has already been accounted for in the legacy system.
How can I configure Oracle FA to skip depreciation calculation for December 2024 and ensure it starts from January 2025?
We do not want to enter opening balances in 1/2025.

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