Tax Book
Discussion List
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Is it possible to copy in adjustments to in service dates from the corporate book to the tax book?Summary: We have 50+ assets where the in service date was updated from 12/31/2024 to 7/1/2024 in the corporate book, but the in service date in the tax book remained 12/… -
Periodic Mass Copy program went to error saying "You must enter a valid group asset number."I created some Group assets in my Corporate Asset Book and at the period end ran 'Periodic Mass Copy' which showed some errors including one saying: You must enter a val… -
Fixed Assets - Tax Book - Depreciation Calculation CriteriaSummary: Following is the scenario for Bonus calculation for FA Tax Book - Overall bonus depreciation is 40% of the Assets (Example - USD 400000) There is an upper limit…Amit K Chaurasia 12 views 1 comment 0 points Most recent by Louise Gareau - Support - Oracle-Oracle Assets -
how to restrict Asset copy from CORP to TAX book based on legal entitySummary: We have a requirement where we have 1 Corporate book linked to Primary Ledger and 5 Tax books linked to different secondary ledgers. The corporate book is linke…PL Karthick Ramanathan 24 views 3 comments 0 points Most recent by Shawna Green-Support-Oracle Assets
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Keeping asset tax books openSummary: The customer have 3 asset books, one corporate and 2 associated tax books. During the end of fiscal year they want to keep the December period open until March/…
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Security Question: Creating Custom Role "Adjust Asset" is unavailable under "Transactions"Summary: When I take the out of the box "Asset Accountant" role (ORA_FA_ASSET_ACCOUNTANT_JOB) and apply it to a user it has the "Adjust asset" ability under "Transaction…
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Tables to find assets with adjustments in the tax bookSummary: We would like to find the list of assets which has been adjusted in the Tax Books. Can anyone provide the list of tables to check. We are speaking about EBIZ R1…ORA-Consultant 2 views 1 comment 0 points Most recent by Louise Gareau - Support - Oracle-Oracle Assets
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More detailed instructions for importing new Depreciation MethodSummary: Hi, I am needing to import the new depreciation methods for the new tax rules and I found the following DOC on MOS. MACRS 80% and 60% Bonus Half-Year & Mid-Quar…Jennifer Sherbrook - CNL 154 views 3 comments 0 points Most recent by Shawna Green-Support-Oracle Assets -
Depreciation method does not default in tax book upon category change in corp bookSummary: We are changing the category in CORP book and then copying it over the tax book. The new category gets copied to the tax book, however, in tax book there is no …
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Transfer Impairment Expense for Assets in Tax BookHello Experts, Are we able to transfer Impairment Expense from Corporate Book to Tax Book? I have enabled both "Allow Amortized Changes" and "Allow Impairment" in my Tax…
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Capability to enable a yes or no checkbox if we want to copy transactions across tax books?Summary: Does Oracle FA have the capability to enable a yes or no checkbox if we want to copy transactions from their corporate book to tax books? There are certain use …
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Depreciation Calculation when 50% Bonus depreciation is takenSummary How can we configure the Fixed Assets so that if we take bonus depr at 50% it will use original cost minus bonus depr as the new basis?Content We launched Cloud … -
How do we setup tax books with MACRS HY, 50% Bonus Depreciation and 15% basis reduction?Summary: Client has tax assets that have a 30% energy credit, 15% basis reduction, and bonus deprecation of 50% in first year with MACRS HY. Content (please ensure you m…
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Fixed assets depreciation method not working correctlySummary: Hi Team, We have defined several depreciation methods for flat rate(related to declining balance method for INDIA tax books) which it seems that it is working f…
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How to copy Life in Years and Life in Months from Corp Book to Tax Book?How can I ensure the Life in Years and Life in Months on an Asset is accurately reflected in Tax Book when updating an Asset's Life in Corp Book? Currently, the Tax Book…
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How do we handle a fixed asset for tax purposes that is part of a cost segregation study?Summary: We have an asset that is part of a cost segregation study and would like to track depreciation in the system instead of offline spreadsheets. See the details be…Anne Frampton-Nguyen 31 views 1 comment 0 points Most recent by Louise Gareau - Support - Oracle-Oracle Assets
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Fixed Asset - Tax Book Group Asset Reserve amount showing in NegativeHi Team, The issue is In the Group Asset, The Depreciation Reserve showing in Negative Balance. I have created Two Assets in Corp Book and Transferred to Tax Book in sam…
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Can we skip a period from copying in tax bookHi All, we have migrated the assets as on Jan-24. We haven't copied anything to tax book yet. Now, we don't want to copy the migrated assets to tax book, we want to copy…
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Different asset accounting method for VAS and IFRS for leases. Do we need Lease Accounting for thisSummary: We use the same accounting method for these two ledgers, and we would like to know if we can have a different accounting treatment for leases. So, for Ledger A …
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Requirement for Deferred Tax Calculation Due to Depreciation MethodSummary: Requirement for Deferred Tax Calculation Due to Depreciation Method Content (please ensure you mask any confidential information): Hello Team, In our Project, t…Rex Kapadia 4 views 3 comments 0 points Most recent by Louise Gareau - Support - Oracle-Oracle Assets
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Can you retire an asset in the same period as an adjustment that changes the depreciation method?Can you retire an asset in the same period you have an adjustment that changes the depreciation method?
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How to leverage Oracle asset tax book for filing IRS form 4562 and 4797Summary: Does anyone leverage Oracle tax book to accurately compile data for filing IRS forms 4562 and 4797, aligning asset records and transaction details in accordance…
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How does Oracle incorporate annual tax updates, such as the Tax Cuts and Jobs Act?How does Oracle manage annual tax updates, such as those from the Tax Cuts and Jobs Act? These updates typically encompass changes to tax rates, regulations, and calcula…
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How to create a tax book (secundary) with a dfferent currency from primary ledger?Summary: We need to generate a conversion from the corporate book in fixed asset to a tax book with a different currency. Content (please ensure you mask any confidentia…
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Can you adjust the year in service date for an asset in the tax book only?Summary: We have a handful of assets that were entered in 2023 with a date of service of December 2022. Oracle is using the depreciation rules for 2022 to calculate depr…Anne Frampton-Nguyen 14 views 2 comments 0 points Most recent by Louise Gareau - Support - Oracle-Oracle Assets
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How do we fix Depreciation Reserve on individual assets?Summary: We have a few assets that were flagged to depreciate in our tax book in error for several years. The depreciation flag has been removed, but depreciation reserv…
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Asset Approval for Tax bookSummary: We have enabled Asset approval feature for Corp book. Can we enable this for asset addition on Tax book too from corporate to Tax book or by direct upload with …
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How to configure for Section 179Summary: Hi, We have a requirement to do Tax depreciation for Section 179 in US where we have to put a depreciation ceiling on a group of asset categories (mainly Tangib…
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Customer wants to load the tax assets in USD by FBDI in the FA_MASS_ADDITIONS and FA_MC_MASS_RATESummary: The user have corporate Book associate a primary ledger of GL in MXN currency. Have a Tax book associate a secondary ledger of GL in USD currency. The client wa…
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Tax Book Direct Asset CreationSummary creating assets directly in TAXContent Hi, Post a merger and acquisition, my customer would like to load a set of assets directly to their existing TAX book. The…