Adjusting mass assets

  1. Select Mass Asset Adjustments.
  2. In the Selection Options section, specify this information:
    Selection Name
    Specify a name for the mass adjustment.
    Adjustment Date
    Select the effective date for the mass adjustments.
    Date Type
    Specify the type of date used in the date range where it limits the assets to be adjusted.
    From
    Select the beginning within a specified in-service or purchase date range.
    To
    Select the end date within a specified in-service or purchase date range.
    Release
    Select whether to release the adjustments or produce a report. After you release the adjustments, the status of the assets is Adjustment in Progress. You must release the adjustment assets.
    Posting
    Select whether to create journal entries for the adjustments. The journal entries are sent to the Global Ledger when you release assets.
    Posting Date
    Select the posting date where the journal entries are created.
  3. In the Asset Adjustments section, specify the original and new values to update the information.
    Work in Process
    Select the work-in-process.
    Tax Exempt
    Select the tax exempt status.
    Simulated
    Select Yes if the asset is simulated. Select No if the asset is actual.
    Used
    Select Yes if the asset is used. Select No if the asset is new.
    Classification
    Select Operating if the asset is associated with operating lease. Select Capital if the asset is associated with a capitalized lease. Select Purchased if the asset is a purchased asset.
    Type
    Specify the type and subtype data.
    Asset Group
    Select the asset group data.
    Account Group
    Select the account group data.
    Asset Dimension Group
    Select the asset dimension group data.
    Asset Owner
    Select the asset owner.
    Depreciation Expense Project
    Select the depreciation expense project.
    Default Transaction Dimensions
    Select the account information for the transaction dimension.
  4. In the Asset Book Adjustments section, specify this information:
    Book
    If you are making adjustments to any of the fields, then you must select a book where the adjustments are created.
    Compute Option
    Select No if the difference between the year-to-date depreciation is taken and the annual amount that is based on the change has spread over the remaining depreciation periods.

    Select Yes if the difference between the year-to-date depreciation is taken and the annual amount that is based on the change has been charged to the current depreciation period.

    Select Prospective if the net asset value is allocated over the remaining life of the asset.

    Fully Depreciated
    Select whether the asset with zero remaining life is included.
    Method
    Select the original and new depreciation method.
    Life
    Specify in months the original and new asset life.
    Remaining Life
    Specify the original and new remaining life.
    In-Service Date
    Select the original and new in-service date.
    Convention
    Select the original and new depreciation convention.
    Status
    Select the original and new status for the book.
    Life Years
    Specify in years the original and new asset life.
  5. In the Report Distribution section, select a distribution list and export type for Mass Asset Adjustments Report.
  6. Click Submit.