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Legacy Asset Import - No Depr Booked

Discussion in 'Oracle Financials' started by Ada01, Oct 24, 2011.

  1. Ada01

    Ada01 Active Member

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    Quite simply, there has never been a quality use of Oracle Fixed Assets at my company and i NEED to have it in place by the end of the year to help solve a lot of audit issues. The problem i need to hurdle first is the import of historical asset data. I need to bring in all of the old assets, back to their original asset purchase and bring them up to date in the system without posting any depreciation in the years prior to 2011

    Any thoughts
  2. yingsras

    yingsras Forum Advisor

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    Bangkok, Thailand

    You can import all of your assets which included the value of the accumulated depreciation of the period before the first period that you will run on Oracle Fixed Assets on the Accumulated Depreciation Field. Then use the Depreciation Override Function to override the accumulated depreciation to 0 for all of your imported assets which the period is the first period in Oracle Fixed Assets. Then we you run the depreciation of the first period, all assets will have the accumulated depreciation equal to the balance of assets of the legacy system.

    Hope this help.