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Prerequisites

   Set up your Category Flexfield. See: Setting Up the Asset Category Flexfield.

   Set up your Account segment values and combinations. See: Defining Accounts.

   Set up your depreciation books. See: Defining Depreciation Books.

   Set up your QuickCode values. See: Entering QuickCodes.

   Set up your prorate conventions. See: Specifying Dates for Prorate Conventions.

   Set up your depreciation methods. See: Defining Additional Depreciation Methods.

   To set up an asset category:

1. Open the Asset Categories window.

2. Enter a Category name and Description to identify the asset category you want to set up.

Suggestion: The concatenated name you enter appears in fields which display 20 spaces. You may want to limit your name to 20 characters.

3. Check Enabled if you want to use this category.

4. Check Capitalize if you want to charge items in this category to an asset account when you pay for them and if you want to depreciate items in this category.

5. Check In Physical Inventory if you want assets in this category to be included in physical inventory comparisons.

6. Choose Lease, Leasehold Improvement, or Non-Lease from the Category Type poplist.

You can only enter lease information in the Asset Details window if you assign the asset to a Lease category type.

7. Choose Owned or Leased from the Ownership poplist.

8. Enter the Property Type and Class to which the assets in this category usually belong.

You set up your QuickCode values for Property Type in the QuickCodes window. If you have assets in the United States, enter 1245 for personal property and 1250 for real property.

9. Enter general ledger accounts for the category.

10. Enter default depreciation rules for each depreciation book for which the category is defined.

11. Save your work.

See Also

Adding an Asset Specifying Details (Detail Additions)

Adding an Asset Automatically from External Sources (Mass Additions)

Asset Descriptive Details

Oracle Assets System Setup