Procedure

In this Topic we will learn how to rectify if asset is wrongly booked to Expense and then rectification is to be done.

Here we will query an existing record which is wrongly booked.

The procedure is to create a Journal voucher to rectify the same. Next process is to add the same in asset.

Step	Action
1.	Double-click the Invoices list item.

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Step	Action
3.	Enter the desired information into the Trading Partner: Name field. Enter a valid value e.g. "MISC-SUPPLIER".

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Step	Action
4.	Press [Tab].

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Step	Action
5.	Enter the desired information into the Invoice: Number field. Enter a valid value e.g. "AR1".

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Step	Action
6.	Click the Find button.
	or Press [Alt+i].

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Step	Action
7.	Now the desired invoice, which needs to be changed is populated. View Description.

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Step	Action
9.	View the Distribution and note that the line is booked in Expense account and the description states that the Purchase of Motor Cycle. We need to rectify the same.

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Step	Action
10.	We need to create a Journal voucher to rectify the accounting effecting, To create a Journal voucher, switch to General Ledger Responsibility. Double-click the Enter list item.

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Step	Action
11.	Click the New Journal button.
	or Press [Alt+J].

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Step	Action
12.	Enter the desired information into the Description field. Enter a valid value e.g. "Purchase of Cycle Booked in Expense Rectified".

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Step	Action
13.	Enter the desired information into the Entered: Debit field. Enter a valid value e.g. "5000".

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Step	Action
14.	Enter the desired information into the Entered: Debit field. Enter a valid value e.g. "5000".

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Step	Action
18.	Switch Responsibility to Fixed Assets to add the asset in Asset Book. Double-click the desired entry in the list.

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Step	Action
19.	Double-click the Oracle Fixed Assets list item.

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Step	Action
20.	Double-click the Assets list item.

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Step	Action
21.	Double-click the Asset Workbench list item.

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Step	Action
22.	Click the Additions button.
	or Press [Alt+n].

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Step	Action
23.	Enter the desired information into the Description field. Enter a valid value e.g. "Purchase of Motor Cycle".

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Step	Action
25.	Click the Combinations button.
	or Press [Alt+m].

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Step	Action
26.	Enter the desired information into the Major REQUIRED field. Enter a valid value e.g. "%".

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Step	Action
27.	Click the OK button.
	or Press [Alt+O].

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Step	Action
28.	Double-click the desired entry in the list. Choose the Category for Motor Cycle.

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Step	Action
29.	Click the Continue button.
	or Press [Alt+n].

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Step	Action
31.	Enter the desired information into the Current Cost field. Enter a valid value e.g. "5000".

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Step	Action
32.	Click the Continue button.
	or Press [Alt+n].

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Step	Action
33.	Enter the desired information into the Unit Change field. Enter a valid value e.g. "1".

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Step	Action
35.	Enter the relavant account code and then Click the OK button.
	or Press [Alt+O].

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Step	Action
38.	Enter the desired information into the Country REQUIRED field. Enter a valid value e.g. "%".

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Step	Action
39.	Click the OK button.
	or Press [Alt+O].

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Step	Action
40.	Double-click the desired entry in the list.

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Step	Action
41.	Click the Done button.
	or Press [Alt+D].

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Step	Action
42.	Click the OK button and note the Asset Number.
	or Press [Alt+O].

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Step	Action
44.	Switch to General Ledger Responsibility. Navigate to Journals Form. In the find window enter the desired parameters. To view the Journals created today, we can enter the current date on Dates Created field. To filter further, we can enter the period, source='Asset' and on. Click the Review Journal button.
	or Press [Alt+u].

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