How Are The Accounting Journal Entries Generated When Doing A Revaluation In Fixed Assets Fusion Based On Setups? (Doc ID 2133977.1)

Last updated on MARCH 05, 2020

Applies to:

Goal

Trying to revalue an asset with revaluation setup as:

Retire Revaluation Reserve - Yes
Revalue YTD Depreciation & Amortize Revaluation Reserve - No

However, when revaluing the asset the accounting that is being passed in Subledger is

DR ASSET COST
CR REVALUATION RESERVE

Although the accounting should be

DR ASSET COST
DR ACCUMULATED DEPRECIATION
CR REVALUATION RESERVE

Same has been referred in the EBS doc https://docs.oracle.com/cd/A60725_05/html/comnls/us/fa/reval.htm (Refer Option 2)

Also as per:
Set Up Fixed Assets Revaluations: What Is The Purpose Of The Five Accounts? (Doc ID 2002201.1) which states
"Depending on the set up options for revaluing accumulated depreciation, this account will either receive the difference in net book value pre- and post revaluation,
or, it will the entire accumulated depreciation reserve and change in cost will be cleared to this account."

Solution

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