Oracle Financials - Fixed asset Reinstatement

T.R.SIVAKUMAR
IBM INDIA PVT LTD.,

Objective:
Reinstatement is the process of re-establishment of retirement of Asset ie., Reactivation
of Asset. The retired Asset can be placed in use by the option of Reinstatement along
with the financial impacts (Journal Voucher).

Oracle provides to reinstate both

individual and mass retirement transactions.

Prerequisites:
Reinstate of asset cannot be initialized if the asset retired in the Previous Fiscal
Year. Reinstate can be done only for the most recent or processed retired assets.
INDIVIDUAL REINSTATEMENT
PENDING ASSET RETIREMENT:
When retired asset is reinstate in the current accounting period that the calculate
gains and losses program has not yet processed, the retirement transaction is deleted,
and the asset is immediately reinstated. No journal entries are created.
Steps:
1. Choose Assets > Asset Workbench from the Navigator window.
2. Find the asset you want to reinstate.
3. Choose Retirements.
4. Query the retirement transaction you want to undo.

Navigation Path:
Asset -> Retirement
Addition of Asset:

If

the retirement has a status of PROCESSED, choose Reinstate. If it is PENDING,

choose Undo Retirement

PROCESSED ASSET RETIREMENT

When asset is

reinstate which is retired in a previous accounting period or

already processed in the current period, the existing retirement transaction gets a new

Status REINSTATE, and the asset is reinstated when you process retirements. Oracle
Assets creates journal entries to catch up any missed depreciation expense.
If the retirement has a status of PROCESSED, calculate gains and losses to
reinstate the asset. If it is PENDING, Oracle Assets deletes the retirement transaction.

Journal Entries for Reinstated Asset

 MASS RETIREMENT TRANSACTIONS:

Bulk of retired asset can be reinstated / reactivated by use of Mass
Reinstatement process of Oracle Fixed Assets
Steps
1. Navigate to the Mass Retirements window.
2. Use the mass transaction number to query the mass retirement transaction
you want to reinstate.
3. Choose Reinstate. Oracle Assets reverses the mass retirement.

Note: If reinstate a mass retirement after execution of Calculate Gains and Losses
program, Calculate Gains and Losses program to process the mass reinstatement has
to be re-executed.

Navigation Path:
Mass Transactions - > Retirements -> Create and Reinstate

Reference Document

FA User Guide.pdf