FA Transfer to GL

Fixed Asset Transfer to GL

Posted on December 1st, 2008 by Sanjit Anand | Print This Post | Email This Post

Have you tried OracleappsHub in ipad/iphone/smart Phone? Don't wait. try it today

How Fixed Assets (FA) Passes Journals To General Ledger (GL)
Before 11.5.9 and Fixed Assets patchset M (11i.FA.M), Journals created by the Create Journals process in FA were entered directly to the journal tables. For some time it was possible to have different period names between the two ledgers and change them using the General Ledger Change Periods feature.
Financials Family pack G or higher all journals to be passed from FA through the gl_interface table using the standard import mechanism (GLLEZL). Initially the import had to be launched from GL separately.Check out old post for R12 SLA Changes.
How to generate FA journal entries and transfer to GL?
In FA module, the journals should be generated after asset addition, depreciation,revaluation, adjustment, transfer, and retirement. It is suggested that in end of each month, after run depreciation and close FA module, user should generate journal entries and transfer to GL module.
1. Login to system and switch to FA responsibility, select Other -> Request -> Run, select “Single Request”, click “OK” button.
2. In “Submit Request” form, input “Create Journal Entries” in name field.
3.Input or select the book and period that you want to generate journals entries
How and what FA Populates into GL
These are the columns which are used for capturing the information from FA to GL.
Convention :GL_INTERFACE table column (GL_LINES table COLUMN) :FA REFERENCE

• REFERENCE21(REFERENCE_1):TRANSACTION_HEADER_ID
• REFERENCE22(REFERENCE_2):ASSET_ID
• REFERENCE23(REFERENCE_3):DISTRIBUTION_ID
• REFERENCE24(REFERENCE_4):ADJUSTMENT_LINE_ID
• REFERENCE25(REFERENCE_5):BOOK_TYPE_CODE
• REFERENCE26(REFERENCE_6):PERIOD_COUNTER
• REFERENCE27(REFERENCE_7):FA_TRANSFER_TO_GL
• REFERENCE28(REFERENCE_8):ADJUSTMENT_TYPE / LOOKUP_CODE
• REFERENCE29(REFERENCE_9):CJE_ID

Journal categories used while FA to GL Transfer
These are the transaction type used for JE creation in GL.

• Addition
• Reinstatement
• Full Retirement
• Transfer
• Partial Retirement
• Adjustment
• Unit Adjustment
• Reclass
• Depreciation
• Revaluation

Query for Subledger Transfer to GL
If you want to get details of different journals transferred to GL, use this to get the result. You can also fine tune with period , currency or clearing company code or Journal Type.

Here is the query:

 
SELECT gjjlv.period_name period_name
, gjb.name batch_name
, gjjlv.header_name Journal_Entry
, gjjlv.je_source Source
, gjjlv.line_entered_dr Entered_Debit
, gjjlv.line_entered_cr Entered_credit
, gjjlv.line_accounted_dr Accounted_Debit
, gjjlv.line_accounted_cr Accounted_Credit
, gjjlv.currency_code Currency
, fasv.TRX_TYPE_NAME Trans_Type
, fasv.TRX_NUMBER_DISPLAYED Transaction_Number
, fasv.TRX_DATE Transaction_Date
, fasv.ASSET_NUMBER Reference
, glcc.CONCATENATED_SEGMENTS
,gjjlv.created_by
FROM apps.GL_JE_JOURNAL_LINES_V gjjlv
, gl_je_lines gje
, apps.fa_ael_gl_v fasv
, gl_je_headers gjh
, gl_je_batches gjb
, apps.gl_code_combinations_kfv glcc
WHERE gjh.period_name BETWEEN 'SEP-2008' AND 'OCT-2008'
AND glcc.code_combination_id = gje.code_combination_id
AND glcc.code_combination_id = fasv.code_combination_id
AND gjh.JE_BATCH_ID = gjb.JE_BATCH_ID
AND gjh.JE_HEADER_ID = gje.JE_HEADER_ID
AND gjh.period_name = gjb.default_period_name
AND gjh.period_name = gje.period_name
AND gjjlv.period_name = gjh.period_name
AND gjjlv.je_batch_id = gjh.je_batch_id
AND gjjlv.je_header_id = gjh.je_header_id
AND gjjlv.LINE_JE_LINE_NUM = gje.je_line_num
AND gjjlv.je_header_id = fasv.je_header_id
AND glcc.segment1='22'
 

Verification Report
You can use these Verification Report for your FA and GL monthly Reconcilation.

1. Cost Detail Report :Use the Cost Detail and Cost Summary reports to reconcile your asset cost accounts to your general ledger to reconcile with Oracle General Ledger, compare the Cost Summary report with the Account Analysis Report.
2. Asset Retirements Report :Use this report to review the assets you retired for the Book and accounting Period range you choose. The report is sorted by balancing segment, asset type, asset
   account, cost center, and asset number. It prints totals for each cost center, account,asset type, and balancing segment.
3. Asset Reclassification Reconciliation Report
4. Asset Transfer Reconciliation Report :Use this report to review asset transfers for the Book and Period you choose. For each transaction Oracle Assets lists the expense account, balancing segment, cost center,and location of the asset before and after the transfer. Oracle Assets sorts the report by
   asset number.
5. Journal Entry Reserve Ledger Report : This report can be used to review how much depreciation Oracle Assets charged to a depreciation reserve account in an accounting period. The report is sorted by, and prints totals for each balancing segment, asset account, reserve account, and cost center.
6. CIP Capitalization Report
7. CIP Assets Report
8. Unposted Mass Additions Report
9. CIP Detail Report (If using adding asset through Project)
10. Asset Addition Report
11. Cost Adjustment Report

Important FAQ - that user may ask
1. Are journal entries transferred to the GL in summary or detail format?
Journal entries are summarized to code combination ids within journal categories.
2. Why do I have journal entries for zero dollar amounts (i.e., debit 0, credit 0)?
The expense segment is part of a single distribution row, which also contains the assets owner and location. Changes to any one of these items will result in the creation of a new distribution. If a change is made in the location or owner, journal entries are posted to reflect the new distribution, even though there has been no accounting impact (thus the zero dollar accounting entries).
3. How often can I create journal entries?
You can run the Create Journal Entries program once per accounting period after you run the depreciation program.
4. What happens if I forget to create journal entries for an accounting period? For example, I created journal entries for AUG-08 and OCT-08, but forgot to create journal entries for SEP-08).
Oracle Assets lets you create journal entries for accounting periods in any order as long as you have ran depreciation for the period and the period is open in your general ledger.
5. How do I reconcile Oracle Assets with my general ledger?
Oracle Assets has a set of reports you use to reconcile asset cost, depreciation expense, and depreciation reserve accounts to your general ledger.
Similar Post

• Fixed Assets:Journal Entries
• Fixed Asset & SLA