This document provides instructions for setting up fixed asset books and accounts, defining locations, blocks of assets, and depreciation details. Key steps include configuring books and calendars in the asset book controls; adding values to flexfields like entity, major category, and location; defining new locations; uploading block names, rates, and balances using a data loader; entering depreciation rates by period; and creating asset categories with default depreciation rules.

1. FIXED ASSETS:
1.0 Defining the FA books ( Books Controls).
Navigation: Set Up/Asset System/Book Controls
CALENDAR TAB:
Define the following:
1.Asset Book Name
2.Calendar
3.Pro-rate calendar
4.First period
ACCOUNTING RULES TAB:
Check the “Allow amortized changes and allow mass changes” boxes.

2. Natural Accounts tab:

3. Journal Categories tab:
As below:

4. 2.0 ADDING FLEXFIELD VALUES:
The entity flexfield gets populated automatically when when we create the entity
and add the value to the value set.
Major and minor categories need to be created only if additional values are
required over and above what already exists.
The location flexfield value has to be added if there is a new value like building.
3.0 DEFINING A LOCATION :
Navigation : Set Up/Asset System/Location
Add the new combination

5. DEFINE BLOCK OF ASSETS:
Navigation: Block Of Assets/define Block of Assets.
Use data loader to upload the block name, rate, start date and opening balance.

6. DEFINING PERIOD-WISE DEPRECIATION DETAILS:
Navigation: Block of Assets/Define period-wise depreciation details
Enter the rate for the period range for the latest year.
CREATING ASSET CATEGORIES:
Navigation: Set Up/Asset System/Asset Categories
Create the category combination
Choose the books and the asset and depreciation accounts.

7. Click on “Default Rules” and enter the depreciation method, rate and pro-rate
convention.