Oracle assets configuration items & setups

Book controls

1. Define book code and description for class (corporate/tax/budget)
2. Define GL ledger to asset book
3. Associate Depreciation calendar, fiscal year name, pro-rate calendar, current period, and current fiscal year to your asset books
4. Define natural accounts for retirement assets

Asset categories

1. Define category & description
2. Define category type (lease/non-lease)
3. Define ownership (owned/leased)
4. Map GL accounts to each categories (Asset cost, clearing, depreciation expense, accumulated depreciation, bonus reserve, bonus expense, impairment expense, write-off expense)


Fiscal years
1. Enter fiscal year and description
2. specify from and end dates and enter mid year dates
3. specify from and end dates belong to which fiscal year

Calendars
1. Enter Calendar name, description, and fiscal year name which belongs to and no of periods fiscal year have
2. periods from and end dates to be defined

Pro-rate conventions
1. Define pro-rate conventions and map which fiscal year name to be associated with
2. Define pro-rate dates based on from and end dates. i.e., if asset is added between 1st and 15th of January then prorate date will be 1st of January is used for depreciation calculation. 
If asset is added between 15th and 30th of January then prorate date will be following month 1st February is used for depreciation calculation

System controls
1. Define enterprise name and oldest date of place in service
2. Associate and map flexfield structures (Asset key, location, and category flex)
3. Define automatic asset numbering

Define
1. asset locations
2. asset keys

3. quick codes

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