Practice - Set Up Group Assets

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Copyright Oracle, 2004. All rights reserved.

Practice - Set Up Group Assets

Effective 07/04/02

Page 1 of 5

275613480.doc
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Practice - Set Up Group Assets

Overview
In this practice, you will:

Create a group asset.

Assign a member asset to the group asset.

Assumptions

Use Vision database

Login information provided by your instructor

Replace XX with the number provided by your instructor

Use Assets, Vision Operations (USA) responsibility

OPS CORP must be enabled for group depreciation by the instructor before the start of
the practice (the instructor needs to check the Allow Amortized Changes and Allow
Group Depreciation check boxes on the Accounting Rules tabbed region of the Book
Controls window.

Tasks
Create a Group Asset
Create a group asset using Detail Additions with the following values:
Description

GROUP_ASSET_XX

Major Category

Computer

Minor Category

PC

Asset Type

Group

Book

OPS CORP

In the Assignments window, enter:

Unit Change
1

Expense Account
00-000-7360-0000-000

Location
USA-DC-WASHINGTON, DC-NONE

Copyright Oracle, 2004. All rights reserved.

Practice - Set Up Group Assets

Effective 07/04/02

Page 2 of 5

275613480.doc
Rev 1

Assign a Member Asset to a Group Asset

Create a new asset using QuickAdditions with the following values and assign the asset to the
group asset you created previously:
Field

Value

Description

Member Asset XX

Major Category

Computer

Minor Category

PC

Book

OPS CORP

Method

STL

Cost

$5000

Date in Service

Use default

Prorate Convention

Mid-Month

Expense Account

00-000-7360-0000-000

Location

USA-DC-WASHINGTON, DC-NONE

Copyright Oracle, 2004. All rights reserved.

Practice - Set Up Group Assets

Effective 07/04/02

Page 3 of 5

275613480.doc
Rev 1

Solution Set Up Group Assets

Responsibility = Assets, Vision Operations
Create a Group Asset
1.

(N) Assets > Asset Workbench

2.

(B) Additions.

3.

In the Description field, enter GROUP_ASSET_XX.

4.

In the Category field, enter a major category of Computer and a minor category of PC.

5.

In the Asset Type file, select Group.

6.

(B) Continue.

7.

In the Book field, enter OPS CORP.

8.

(B) Continue

9.

In the Assignments window, enter:

Unit Change
1

Expense Account
00-000-7360-0000-000

Location
USA-DC-WASHINGTON, DC-NONE

10. (B) Done to save your asset.

11. Write down your group asset number __________.
Assign a Member Asset to a Group Asset
12. From the Assets window, (B) QuickAdditions.
13. In the QuickAdditions window enter:
Field

Value

Description

Member Asset XX

Major Category

Computer

Minor Category

PC

Book

OPS CORP

Method

STL

Cost

$5000

Date in Service

Use default

Prorate Convention

Mid-Month
Copyright Oracle, 2004. All rights reserved.

Practice - Set Up Group Assets

Effective 07/04/02

Page 4 of 5

275613480.doc
Rev 1

Expense Account

00-000-7360-0000-000

Location

USA-DC-WASHINGTON, DC-NONE

14. (B) Done to save your asset.

15. Write down the asset number _________.
16. Close out of the Assets window.
17. Query the member asset you just created:

(N) Assets > Asset Workbench

18. In the Find Assets window, enter the asset number of the member asset you just created in
the Asset Number field and OPS CORP in the Book field.
19. (B) Find.
20. (B) Books.
21. Enter OPS CORP in the Book field.
22. (T) Group Asset.
23. Enter the group asset number of the asset you created in step 11 in the Group Asset field.
24. (B) Done to save your asset.

Copyright Oracle, 2004. All rights reserved.

Practice - Set Up Group Assets

Effective 07/04/02

Page 5 of 5

275613480.doc
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