Processing Transactions in Assets
This section describes the flow of transactions from Assets to General Ledger in an MRC environment.
To process transactions in Assets:
1. Enter transactions in your primary responsibility.
Entered transaction amounts are converted to each associated reporting currency according to the defined conversion options.
2. If you have pending retirements/reinstatements, calculate gains and losses in your primary responsibility.
Gain and loss amounts are converted to each associated reporting currency according to the defined conversion options.
3. From each reporting responsibility, run depreciation for the associated asset depreciation book.
4. Once you have successfully run depreciation from all reporting responsibilities, run depreciation from your primary responsibility.
5. In Assets, run the Create Journal Entries process from your primary responsibility to create journal entries in General Ledger.
6. In General Ledger, post the journals in your primary set of books.
The posting process updates the account balances in the primary functional currency.
7. For each reporting set of books, repeat Steps 5 and 6.
The posting process updates the account balances in the reporting functional currencies.
You can report and inquire on journal entries and account balances in both your primary and reporting sets of books.
From each associated reporting responsibility, you can view and report on the transactions you entered or created in Steps 1 through 3 in the corresponding reporting functional currency.
See Also
Oracle Assets User's Guide
General Ledger Journal Processing with MRC
Processing Transactions in Payables and Receivables
Processing Transactions in Purchasing
Processing Transactions in Project Costing
Processing Transactions in Project Billing
Global Accounting Engine Payables and Receivables Transactions Processing with MRC
Multiple Product Installation Groups and Multiple Organization Architecture
