Capitalizing adjusting costs to previously capitalized assets

The Customer is implementing Oracle Project Costing R12.2.4.

They have been using the Fixed Asset Module for over 10 years and manage both CIP and Capitalized Assets in this module.

They were tracking project costs at the GL level (project segment in the chart of accounts) but this will discontinue after project costing is implemented.

GL reports will allow them to extract all costs (Capitalized as well as CIP) related to all projects.

The conversion strategy is to convert all project costs history (capital and CIP) to Project Costing.

After conversion, all capital project will show capitalized costs, cip costs and total costs.