Fixed Assets - EBS (MOSC)

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User guide is giving wrong journal entries

edited Apr 22, 2012 8:02PM in Fixed Assets - EBS (MOSC) 20 commentsAnswered
 Hi Folks,
When I reviewed the Oracle Assets user guide it is fully wrong accounting entries given. Please inform to user guide author to change these entries.

Ex:- 

When we Create CIP asset

CIP cost Will be debit

CIP clearing will be credit.


Capitalise this CIP accounting entry as follow.

Capitalise Account Debit
CIP account Credit


Where as user guide is displaying CIP cost Debit and Asset clearing credit which is wrong.

Asset Type Adjustments

If you change the asset type from capitalized to CIP, Oracle Assets creates journal entries to debit the CIP cost account and credit the asset clearing account. Oracle Assets does not create capitalization or reverse capitalization journal entries for CIP reverse transactions.

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