Managing Journal Summarization

You can manage journal summarization using the Manage Journal Summarization link in the Fixed Asset Task Launcher. This task enables you to select a method of summarizing fixed asset journals per company and journal type. It also enables you to disable journal summarization for a specific company and journal type to generate individual journals per asset. Journal summarization is disabled by default.

Warnings:
  • Read Journal Summarization Overview for some very important preparation and configuration notes.
  • Changing a summarization method might affect your accounting balances.

Enabling Journal Summarization

To summarize fixed asset journals:

  1. In the Fixed Asset Task Launcher tab, navigate to the Data Setup and Management section.
  2. Click Manage Journal Summarization.
  3. Use the drop-downs to select a journal summarization method for each company and journal type, as required. Selecting "None" generates individual journals per asset instead of summarizing them.
  4. Click Apply.

For more information about what happens next, see Journal Summarization Overview.

Disabling Journal Summarization

Journal summarization is disabled by default. If you have enabled it for a specific company and journal type, you can disable it as follows:

  1. In the Fixed Asset Task Launcher tab, navigate to the Data Setup and Management section.
  2. Click Manage Journal Summarization.
  3. Use the drop-downs to select "None" as the journal summarization method for the company and journal type you want.
  4. Click Apply.

Fixed Asset Management will start generating individual journals per fixed asset for the selected company and journal type.

Viewing Summarized Journals

To view a summarized journal and its details:

  1. Locate the journal on the Journal home or list pages in Accounting.
  2. Click the journal number to display the journal detail page. For more information, see Displaying Journal Details.
Note:

We recommend manually adding the Journal Fixed Assets and Journal Depreciation Schedules related lists to your page layouts for the Journal object. This enables you to view the details of the following records associated with the summarized journal:

  • Depreciation schedules
  • Fixed asset
  • Fixed asset journals