A-Reclassifying an Asset: Oracle applications R12-1.1 financial

A-Reclassifying an Asset: You assign an asset to a new category in the Asset Details window to update information, correct data entry errors, and consolidate categories. -When you reclassify an asset in a period after the period you entered it, Oracle Assets creates journal entries to transfer the cost and accumulated depreciation to the asset cost and accumulated depreciation accounts of the new asset category. This occurs when you create journal entries for your general ledger. -Reclassification does not redefault the depreciation rules to the default rules from the new category. Manually change the depreciation rules in the Books or Mass Change windows if necessary.