Assets need to be depreciated based on defined depreciation methods. In this recipe, we will look at how to run depreciation and close a period.
Log in to Oracle E-Business Suite R12 with the username and password assigned to you by the System Administrator. If you are working on the Vision demonstration database, you can use OPERATIONS/WELCOME as the USERNAME/PASSWORD.
Run the following reports to check if all assets are assigned to the correct expense accounts and books:
Let's list the steps required to run depreciation: