Reclassifications

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Transaction Description

Reclassify assets by changing the category. Use this procedure to update information, standardize information, or consolidate categories. Oracle Assets will create journal entries to reclass the cost and accumulated depreciation according to the new asset category. The depreciation expense account will be changed to the default for the category, but prior period expense history will not be changed.

Fully retired assets cannot be reclassified.
Reclassification is performed on the asset record. If an asset cannot be reclassified in one book, it will not be reclassified in any of the books to which it belongs.

To reclassify a group of assets:

1. Find the assets you want to reclassify.
2. Specify the corporate book on which you want to run reclassification.
3. Optionally specify other asset selection criteria in the following fields:
   • Asset Type
   • Expense Accounts
   • Location
   • Group Asset
   • Employee Name
   • Employee Number
   • Category
   • Asset Key
   • Cost Range
   • Asset Numbers
   • Dates In Service
4. Enter the new category.
5. Specify whether to copy the current category descriptive flexfield information to the new category.
6. Specify whether to inherit the depreciation rules of the new category.
7. Specify whether to inherit the group asset of the new category.
8. If you choose to inherit the depreciation rules of the new category, specify whether to amortize the changes.
9. Choose Preview to run the Mass Reclassification Preview report.
10. Query the Mass Transaction number and choose Run to submit the Mass Reclassification concurrent process.

To avoid deletion of descriptive flexfield information, choose to copy the flexfield information.

Mass Reclassifications

List of Fields

• Book
• Status
• Comments
• Mass Transaction Number
• Request Number
• Reclass Date
• Descriptive Flexfield
• Assets to Reclass
  • Asset Type
  • Fully Reserved
  • Expense Accounts
  • Location
  • Employee Name
  • Number
  • Category
  • Asset Key
  • Cost Range
  • Asset Numbers
  • Dates in Service
• Reclass
  • New Category
    • Copy Category Descriptive Flexfield to New Category
    • Inherit Depreciation Rules of New Category
    • Amortize Adjustments

Comments

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• Related: OracleAssets

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Collaborating Authors and Reviewers: -- DianeMcHugh, JimCrum