Tax Book
Discussion List
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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… -
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 2 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… -
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 11 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…
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Receiving an error when doing a transfer in spreadsheet (TAX BOOK)I am working with the tax team on loading transfers in mass via spreadsheet. I am able to do it within the Corporate book, but for some reason I cannot get it to work wi…
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Is there a standard solution for calculating taxes related to CIAP for fixed assets in Brazil?Summary: In Brazil, there is CIAP, where the Brazilian tax authorities grant taxpaying companies the right to ICMS credits related to the acquisition of fixed assets (CI…
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Exchange Rate Setup for Asset Mass CopySummary: What do Oracle FA customers do when they convert their assets and their tax book ( Linked to Secondary Ledger) is a different currency than their corporate book…
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Process to run after creating the tax asset bookHello, the client has created a corporate book many year ago and the current date is this month. Now, he wants to create a new tax asset book to see the depreciation in … -
Depreciation Digressive method for Local Poland Tax BookSummary: Polish Finance Team requested additional Depreciation method for Polish Local TAX Asset Book. For some categories need to run Special Digressive method: In degr…
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How to configure Tax Depreciation for Section 174Summary: Hi, We have a requirement to do Tax depreciation under section 174 in Tax Book where we have to depreciate CIP assets in Tax book until assets are capitalized i…
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Need to understand the tax book migration balances to be taken while migrating assets to tax bookSummary: we are in process to migrate assets to tax book. We have taken the cut-off date of migration as 31-Aug-24. Migrated Trial balance also as of 31-Aug-24. Tax book…saketjain 21 views 5 comments 0 points Most recent by Louise Gareau - Support - Oracle-Oracle Assets
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Depreciation Reserve is showing in negative after member asset retiered from tax bookSummary: In tax book, If one member asset is getting retiered depreciation reserve is going in negative for group asset. Which is wrong/ incorrect as per business. Conte…
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Fixed Asset Incomplete Additions Tile - Last Updated FieldWe have a tax asset analyst who ONLY has access to the tax asset books. We have found that although she only has access to the tax asset book, her name is showing within…