10 choose retire oracle assets automatically runs the

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10. Choose Retire. Oracle Assets automatically runs the Mass Retirements Report and the Mass Retirements Exception Report. Choose Save if you want to save the mass retirement transaction for future submission. 11. Review the reports. If necessary, you can adjust a resulting individual retirement transaction in the Retirements window, or reinstate the mass retirement transaction in the Mass Retirements window. 12. When you are ready to process the pending mass retirement transaction, run the Calculate Gains and Losses program Some times, companies want to retire asset before asset is completely depreciated. For individual asset, it can be done in asset work bench. For more than one asset it can be done through mass retirement. Amount is prorated among entire asset retired based on their net book value. i) From asset menu barb2right mass transactions barb2right mass retirement. ii) Enter book name, account from and to, asset number from and to. iii) Press Create and note mass transaction number. iv) Clear the request. v) Mass additions barb2right post barb2right enter book name barb2right submit the request. vi) Clear the request 3.5 Mass Reclassification You can reclassify a group of assets using the Mass Reclassifications window. In addition to reclassifying assets to a new category, when you run the Mass Reclassification process, you have the option to have assets inherit
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GreenChain Software Solutions Pvt Ltd Page 73 of 102 the depreciation rules of the new category. If you choose to have the reclassified assets inherit depreciation rules, you can also choose to either amortize or expense the resulting depreciation adjustments. When you run the Mass Reclassification process, Oracle Assets first reclassifies the assets (changes the assets from one category to another), then changes the depreciation rules, if you have chosen to have the reclassified assets inherit the depreciation rules of the new category. Oracle Assets reclassifies assets to a new category, even if inheriting depreciation rules fails. However, if reclassification fails (assets are not changed to the new category), assets will not inherit the depreciation rules of the new category. Reclassification Reclassification is done at the asset level. If an asset cannot be reclassified in one book, the asset will not be reclassified in any of the books to which it belongs. If you attempt to reclassify assets to the same category (for example, you have a group of assets assigned to category PC, and you run the Mass Reclassification process to reclassify the assets to category PC), the assets will not be reclassified and will not inherit depreciation rules. You cannot reclassify an asset in a prior period. Inheriting Depreciation Rules Inheriting depreciation rules is performed at the book level, meaning that if assets do not inherit depreciation rules in one book to which the assets belong, it will not prevent assets from successfully inheriting depreciation rules in other books to which they belong.
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