User guide is giving wrong journal entries
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.0