2Assets Flexfields

This chapter contains the following:

Asset Category Key Flexfield

Define the Asset Category key flexfield so that you can create categories and group assets by financial information in relevant categories. Define your Asset Category flexfield segments to fit the specific needs of your organization. You must define at least one subcategory segment to allow for distinctions within a major category.

You can define up to seven segments for your Asset Category key flexfield. When defining segments, consider the following:

  • Oracle Fusion Assets only displays a limited number of characters on its forms and reports, so you may want to use only two or three segments so that all of them can be displayed.

  • You must define depreciation rules for each category flexfield combination, so more segments require more setup and maintenance effort.

Note: Plan your flexfield carefully. Once you begin entering assets using the flexfield, you cannot change it.

Use the Asset Key flexfield in Oracle Fusion Assets to group your assets by non-financial information. You design your Asset Key flexfield to record the information you want.

When designing the Asset Key flexfields, consider the following:

  • You can assign the same asset key to many assets to easily find similar assets.

  • All Assets transaction pages allow you to query assets using the asset key, and help you find your assets without an asset number.

Even if you choose not to track assets using the asset key, you must define at least one Asset Key flexfield segment without validation because the Asset Key flexfield structure is required to set up the system controls.

Note: Plan your flexfield carefully. Once you begin entering assets using the flexfield, you cannot change it.

Oracle Fusion Assets uses the Location flexfield to group and track your assets by physical location. Define the Location flexfield structure to fit the specific needs of your organization. You must choose:

  • The number of segments

  • The length of each segment

  • The name

  • The order of each segment

You must define a state segment and up to six other location segments.

Examples:

  • You do business internationally and want to track the country an asset is in. You may also want to include segments for state, city, and site.

  • You use barcodes and want to track asset locations in more detail, so you add segments for the building and room number.

The location name (all segments concatenated) appears on forms and reports, which display only a limited number of characters. You may want to abbreviate some location segment values.

Note: Plan your flexfield carefully. Once you begin entering assets using the flexfield, you cannot change it.

Assets Descriptive Flexfields

You can record and track all standard asset information on the Assets pages. However, there may be additional information you need to record for your assets that needs to be tracked for reporting purposes. You can set up descriptive flexfields to record and track additional information in Assets. You can set up a descriptive flexfield for each asset category to collect information relevant to your business. For example, you can track the license number for cars and the square footage for buildings. When you assign a new asset to a category, you can enter the additional information in a descriptive flexfield.

The following table lists the descriptive flexfields available in Assets and their corresponding Assets pages:

Descriptive Flexfield Associated Assets Page

Asset Category

Add Asset

Edit Source Line

Add Assets and Prepare Source Lines spreadsheets

Assets Invoices

Add Asset

Edit Source Line

Add Source Lines

Change Source Lines

Source Line Retirement

Add Assets and Prepare Source Lines spreadsheets

Bonus Rates

Create Bonus Rule

Edit Bonus Rule

Bonus Rules

Create Bonus Rule

Edit Bonus Rule

Book Controls

Create Book

Edit Book

Calendar Types

Create Calendar

Edit Calendar

Categories

Create Category

Edit Category

Category Books

Create Category

Edit Category

Category Book Defaults

Create Category

Edit Category

Ceilings

Create Ceiling

Edit Ceiling

Convention Types

Create Prorate Convention

Edit Prorate Convention

Fiscal Year

Create Fiscal Year

Edit Fiscal Year

Flat Rates

Create Depreciation Method

Edit Depreciation Method

Locations

Manage Locations

Methods

Create Depreciation Method

Edit Depreciation Method

Retirements

Cost Retirement

Unit Retirement

Source Line Retirement

System Controls

Manage System Controls

Transactions

Add Asset

Edit Source Line

Preview Add to Asset

Change Financial Details

Suspend Depreciation

Add Source Lines

Change Source Lines

Transfer Source Lines

Change Category

Perform Unplanned Depreciation

Transfer Reserve

Change Group Asset

Cost Retirement

Source Line Retirement

Unit Retirement

Transfer Asset

Adjust Units

Add Assets and Prepare Source Lines spreadsheets

Asset Category Descriptive Flexfield

Set up the Asset Category descriptive flexfield to store additional information based on the asset category.

  • Enter the category code as the reference field to base the descriptive flexfield structure on the value of your Asset Category flexfield.

  • Define your context field values (structure names) to exactly match your concatenated Asset Category Flexfield combinations.

For example, your Asset Category Flexfield combination is BUILDING.OFFICE. You define BUILDING.OFFICE as your context value.

Note: The segment separator, spelling, and case must exactly match your Category Flexfield combination.

You don't need to define a descriptive flexfield structure for each combination of your Asset Category flexfield. Define structures only for those categories in which you want to capture additional information (such as the license number or insurance policy number).

Note: Plan your flexfield carefully. Once you begin entering assets using the flexfield, you can't change it.

System controls provide information about the structure of your company.

Define system controls by identifying:

  • Your enterprise (company) name

  • The oldest date placed in service

  • Your flexfield structures

  • Your asset numbering scheme

Enterprise Name

The enterprise name establishes the name that appears on Oracle Fusion Assets reports.

Oldest Date Placed in Service

The oldest date placed in service controls what dates are valid to place assets in service and on what date to begin your calendars. You can only update the oldest date placed in service before you assign any calendars to depreciation books.

Flexfield Structures

Define your company's Category, Location, and Asset Key flexfields structures, which will be used to record transactions.

Configure flexfield segments to capture data that represents the values of attributes. You can define any number of segments for each flexfield, but Assets supports only one structure. The administrator must choose a structure for each key flexfield that will be used to record transactions.

Automatic Asset Numbering

The starting asset number defines the number to begin automatically numbering your assets. Note that some asset numbers may be skipped.

When you use automatic numbering, then manual numbering must be less than the starting asset number that you have established. In other words, if you start automatic numbering at 50,001, manual numbering must be between 1 and 50,000. Asset numbers with a letter in them are not reserved for automatic asset numbering, since the automatic numbers are a numeric sequence.

If you are converting from another application, you can enter a starting number greater than the number of assets you want to convert so converted assets keep the same number from the previous application. For example, if you are converting 75,000 assets, you can enter 100,001 as the starting number to reserve the numbers 1 to 100,000 for manual asset numbering. Note that adding the 75,000 assets will increment the automatic numbering sequence by 75,000 (automatically numbered assets will begin at 175,001).