Fixed Assets - EBS (MOSC)

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Assets posted in the wrong period

edited Jul 29, 2014 9:31AM in Fixed Assets - EBS (MOSC) 8 commentsAnswered ✓

Good day Everyone.

We have posted a certain asset in Oracle FA in a wrong period (May 2013), first open period in the Oracle General Ledger for this Operating Unit is Oct 2013.

It was found out that asset should really be posted in Oct 2013 (first period of operation) and not on the period the asset was purchased (May 2013)

During the "create accounting" for all additions, it cannot be accounted for MAY 2013 period is "closed" in the GL.

We have already run the depreciation and close the period for May 2013 in Oracle FA.

Can anyone suggest how to correct this type of accounting event? What will happen to the asset we have incorrectly posted?

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