Download Assets (for Retirements and Reinstatements)
To retire or reinstate assets, we recommend that you download assets to the sheet. Follow the Download Assets instructions as part of the Asset Additions Integrator. These same instructions also apply to the Asset Retirements Integrator.
Ensure depreciation has been run before downloading
This is important because depreciation calculations update key asset values such as accumulated depreciation, net book value, and depreciation expense. If depreciation has not been run, the data you download may not reflect the asset’s current financial position, leading to inaccurate adjustments or reporting discrepancies. Running depreciation ensures you’re working with the most accurate and up-to-date information.
Assets section
The Assets section provides key information about the asset as recorded in Oracle, including:
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Asset Number
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Book
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Current Cost
This information is essential for identifying which assets are eligible for retirement or reinstatement. Only assets from Books you have access to will be downloaded.
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The cost displayed reflects the current cost of the asset in the selected Book, including all prior adjustments or revaluations. This cost is used as a basis for validation during the retirement process. |
Reinstatements section
The Reinstatements section allows you to reverse a prior retirement. Oracle only allows reinstatement of the most recent retirement transaction. This is standard Oracle functionality and cannot be changed.