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Same Account For Gain And Loss Account in Fusion Assets so that Separate Journal Lines Are Not Created. (Doc ID 1586032.1)

Last updated on MAY 28, 2024

Applies to:

Oracle Fusion Assets - Version and later
Oracle Fusion Assets Cloud Service - Version to [Release 1.0]
Information in this document applies to any platform.


Retirement journal creates different lines for Retirement Proceeds; Retirement NBV Retired, Retirement Cost of Removal account even though same natural account is provided in FA book controls form in respective fields.

As per the Fusion documentation regarding Journal Entries for Retirements and Reinstatements,

If you enter the same account for each gain and loss account, Oracle Assets creates a single
journal entry for the net gain or loss as shown in
the following table:
Book Controls page:
Accounts                        Gain    Loss
Proceeds of Sale             78530 78530
Cost of Removal             78530  78530
Net Book Value Retired    78530  78530

Dr. Accumulated Depreciation 2,500.00
Dr. Proceeds of Sale Clearing 2,000.00
Cr. Asset Cost 4,000.00
Cr. Cost of Removal Clearing 500.00
Cr. Gain/Loss 0.00

How can this be set up?


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