R12 Unbalanced Impairment Journal (Revaluation Reserve Line Incorrect) After Impairment Loss Applied to Previously Revalued Asset
(Doc ID 1645223.1)
Last updated on MARCH 01, 2018
Oracle Assets - Version 12.1.3 and later Information in this document applies to any platform.
The Assets Impairment journal is unbalanced when an impairment loss transaction is posted for an asset having an existing revaluation reserve balance.
The incorrect line in the impairment journal is the posting to the revaluation reserve, where the amount to be released from the revaluation reserve is getting doubled (either exactly or approximately doubled).
The imbalance causes Create Accounting to raise an out of balance entry error, and the imbalance can be seen in fa_adjustments, or in the Create Accounting - Assets Detail Report. Example:
IMPAIR EXPENSE DR 494631.22 IMPAIR RESERVE CR 760000 REVAL RESERVE DR 530737.56
This happens in standard revaluation and impairment functionality (i.e. it is not specific to the UK Local Authority Accounting option).
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