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Retirement Of Revalued Asset Does Not Create Correct Journals (Doc ID 363884.1)

Last updated on DECEMBER 04, 2019

Applies to:

Oracle Assets - Version 11.5.10.2 and later
Information in this document applies to any platform.
***Checked for relevance on 09-May-2011***

Symptoms

There are many assets in the system which were revalued. When these assets were revalued the book controls were defined as:

ALLOW_REVAL_FLAG = YES
REVAL_DEPRN_RESERVE_FLAG = NO
AMORTIZE_REVAL_RESERVE_FLAG = NO
REVALUE_ON_RETIREMENT_FLAG = NO
RETIRE_REVAL_RESERVE_FLAG = NO


In the current period these settings were changed to:

ALLOW_REVAL_FLAG = YES
REVAL_DEPRN_RESERVE_FLAG = NO
AMORTIZE_REVAL_RESERVE_FLAG YES
REVALUE_ON_RETIREMENT_FLAG NO
RETIRE_REVAL_RESERVE_FLAG YES

An asset was revalued and retired, after changing the revaluation flags as above.
When depreciation is run, no journals are created for the retirement of the revaluation reserve.

Cause

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In this Document
Symptoms
Cause
Solution

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