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How to start using CIP?

Discussion in 'Oracle Financials' started by Rasa, Jul 25, 2014.

  1. Rasa

    Rasa Guest


    I only used very basic additions in Oracle, but never CIP. I have 3 different asset suspense accounts in Oracle where I keep hardware, software and fixtures changes, but I keep all transactions and reconciliations in excel file. So I have lots of costs under these 3 accounts in Oracle. Once we decide to put asset in register, it off course reduces balance in these accounts.

    My query is, how to start using CIP in Oracle R12? Because when I try to manually add a CIP asset using Additions (with "CIP" in asset type and zero cost), it says that I need to set up CIP account to the Category.
    How can I add CIP account to the existing Categories?
    Or do I have to create new categories with CIP accounts?
    Can I use existing suspense accounts for CIP accounts? Because accounts payables are using only these 3 suspense accounts for all capital invoice input.

    Thank you.
  2. Iwanhe

    Iwanhe Active Member

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    Hi Rasa,

    You can add CIP Account and CIP Clearing Account in Asset Category Setup Form.

    You don't need to add new category, you can use the category that you've already setup. I think you can't use suspense account for CIP Accounts

    Kindly advise,