Abandoning an Asset in Oracle Projects
You can abandon an asset at any time.
Before Interfacing to Oracle Assets
You can abandon a capital project prior to interfacing to Oracle Assets by changing all transactions from capitalizable to non-capitalizable.
To change transactions from capitalizable to non-capitalizable:
1. Navigate to the Expenditure Inquiry window.
2. Select all expenditures for the project where the Capitalizable column is checked.
3. From the Special menu, choose Non-Capitalizable. If cost distribution has been run on the expenditures, the Cost Distributed column checkbox will change to unchecked.
4. Run the distribute labor, expense, and usage costs processes and the PRC: Distribute Supplier Invoice Adjustment Costs process. If you are using burdening, run the PRC: Distribute Total Burdened Costs process.
5. Interface the costs to GL and AP. When you post the costs to Oracle General Ledger, the system will create entries that transfer these costs from the CIP account to the Expense account. The AutoAccounting rules you set up determine these accounts.
After Interfacing to Oracle Assets
If you have already interfaced the asset you want to abandon, you must reverse capitalize the asset in the Assets window in Oracle Projects. You also need to send the reversing lines to Oracle Assets to account for the abandoned CIP asset.
The Generate process creates reversal lines and interfaces them to Oracle Assets.
See Also
Specifying Capitalizability of Capital Project WBS Levels
Reversing Capitalization of an Asset in Oracle Projects
