In the Item Mater, Purchasing TAB..make sure you input the "Asset Category".
Define Asset Category for each capital item and assign the Asset or CIP Clearing account as the Expense Account.
This way you can make a PO for the asset item.
Even for the combination of category and item qty, you can do a PO without an item.
General Flow will be like this.
Thank you very much arif..
Please let me know do we add this item as asset in fixed asset after the purchase process is complete and we have performed receipts in oracle inventory too..
Do we need to perform asset creation through asset addition in AP ?
You mentioned that the general flow is PO-->AP-->Projects-->FA-->GL but we do not currently have project running.. how does it happen in this case
Need to create a Item with asset category and relavent account.
Receive the items and create AP invoice...then run create mass additions interface so that AP invoice details will flow to FA.
in case of non-project module PO-->AP-->FA-->GL.
ping me your email..will send a good PPT on the integration part.
Thank you very much indeed for this helpful answer.
My email id is: firstname.lastname@example.org
I also need to know if we need to apply services to that item to increase that fixed asset's cost or useful life, can we achieve it through making a service PO for that FA item ? if yes how do we achieve it.
I do really appreciate your replies.