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How to Write Off an Asset in R12 FA (with out retirement )

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How to Write Off an Asset in R12 FA (with out retirement )
01-29-2015, 01:44 AM,
#1
skudikyal Offline
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How to Write Off an Asset in R12 FA (with out retirement )
Hi Everyone,
My Name is Shashidar K, new to this site/forum.
Need your advice/inputs for one of our requirement, what is the process for Asset Write Off in R12?
We don't want to retirement  the asset, but just want to write off (fully depreciated assets).
Please suggest.

Thanks
Shashidar K
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01-29-2015, 11:35 PM,
#2
Hassan Habib Offline
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RE: How to Write Off an Asset in R12 FA (with out retirement )
If it’s fully depreciated, it means it is already consumed. There is no write off method other then asset disposal/retirement in Oracle as per my knowledge, we cannot delete any asset once it’s recorded.
If you write-off asset from back-end, previous trace will be removed, it will be problem for audit.
Solution: We have to use asset retirement with amount Zero (0) as a sales proceeds, this will serve your purpose.
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01-29-2015, 11:38 PM,
#3
Riya Ashwin Offline
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RE: How to Write Off an Asset in R12 FA (with out retirement )
As far as I have understood your query following is the explanation in relation to R12;

A write-off is a reduction of the recognized value of something. In accounting, this is a recognition of the reduced or zero value of an asset. If this is the case then we have a functionality of unplanned depreciation to write off the assets completely without retiring them. Secondly, we can also stop depreciating them by unchecking ‘Depreciate’ option in Books Tab of Asset Workbench (Unplanned depreciation would also be done from the same form).

If you are looking for something different please do let me know.
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02-03-2015, 09:48 PM,
#4
Kashif Manzoor Offline
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RE: How to Write Off an Asset in R12 FA (with out retirement )
Only option is to retire the asset by giving zero as sales price,

In order to track, a new Retirement Type can be defined with the name Write Off.
Below is the navigation to define the Retirement Type:-

Fixed Asset > Setup > Asset System > Quick Codes
Type Name is RETIREMENT
thanks
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10-16-2019, 03:20 PM,
#5
viggora
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RE: How to Write Off an Asset in R12 FA (with out retirement )
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12-24-2019, 08:52 AM,
#6
viggora
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RE: How to Write Off an Asset in R12 FA (with out retirement )
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02-22-2025, 04:37 AM,
#7
Casinosbew
Unregistered
 		 
RE: How to Write Off an Asset in R12 FA (with out retirement )
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