Handling Of Assets Created From Invoices In Foreign Currency
(Doc ID 2058624.1)
Last updated on AUGUST 19, 2020
Applies to:Oracle Fusion Assets Cloud Service - Version 188.8.131.52.0 and later
Oracle Fusion Assets - Version 184.108.40.206.0 and later
Information in this document applies to any platform.
When going through the Using Assets Guide for Cloud we found the attached description for how to handle the asset clearing account when you create an asset based on an invoice in a foreign currency.
According to the user guide you will have to enter two manual journals in GL each time you create an asset based on foreign currency in order to let the clearing account balance in both entered and accounted currency.
First, this will be very cumbersome to the client who might have quite a number of assets created that way,
and second, the procedure contains quite some risc to create errors like
entering the manual journal in foreign currency with a GL date having another rate than the original Payables transaction
or simply forgetting to get all manual journals created
In a system that basically sends all transactions more or less automatically from module to module/user to user this appears to be a very outdated way of doing it. There must be a better way to handle that situation.
The only alternative seems to be to let the balance in foreign currency grow bigger and bigger as time goes by. And this isn't desirable either.
Would you please look into this?
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document