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Accounting flow for fixed asset creation from procurement

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in Assets 2 comments

Summary: Detailed accounting flow for FA creation using PO and Payables

Content (required):

My client has the following scenario

  1. There is no inventory module implemented
  2. We have a fixed asset procurement category defined with Expense account assigned to Asset clearing account
  3. PO is set for 3 way matching and accrue at receipt

The first question is to understand what accounting entries will be generated in oracle cloud when the item is received and payables invoice processed.

The second question is how and at what point the data will be interfaced to FA and what configurations needed to support this

Version (include the version you are using, if applicable):

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