R12 control setup assets

Copyright © 2007, Oracle. All rights reserved.Copyright © 2007, Oracle. All rights reserved.

Asset Controls Setup

Release 12 Oracle Asset Management Fundamentals

Copyright © 2007, Oracle. All rights reserved.

Objectives

After completing this module, you should be able to do the following:

• List the Oracle Assets setup steps

• Discuss defining the Oracle Assets three key flexfields

• Discuss implementation issues in setting up the three Oracle Assets key flexfields

• Discuss implementation considerations for System Controls options

• Explain the use of Quickcodes in Oracle Assets


Objectives

• Explain how fiscal years and calendars are used in Oracle Assets

• Discuss implementation issues in setting up calendars

• Explain the Oracle Assets profile options

• Discuss the key processes that need to be completed when planning an Oracle Assets implementation


Agenda

• Oracle Assets Setup Steps

• Oracle Assets Key Flexfields

• Specifying System Controls

• QuickCodes

• Asset Calendars

• Oracle Assets Profile Options

• Planning an Oracle Assets Implementation


Oracle Assets Setup Steps

Set of Books

Asset Key Flexfield

Asset Category Flexfield

Location Flexfield

System Controls

Fiscal Years

Calendars

Book Controls

Prorate/Retirement Conventions

Asset Categories

RequiredAccount Generator

Journal Entry Sources

Journal Entry Categories

QuickCodes

Depreciation Methods

Required w/Defaults

Unit of Measure ClassesUnits of MeasureEmployeesDescriptive FFNumberingSuppliersLocations CombinationsAsset Keys CombinationsSecurityInvestment Tax CreditsPrice IndexesDistribution SetsLeasesWarrantiesProfile OptionsInsurance

Optional


Setup Steps Flow

Sets of Books

Step 1

Units of Measure Classes

Units of Measure

Categories

Step 2 Step 3

Journal Entry Sources

Step 7

NumberingJournal Entry Categories

Step 8 Step 9

Step 10

Asset Key Flexfield

Step 11Asset

Category Flexfield

Step 12

Step 4

Employees Descriptive Flexfields

Step 5

Account Generator

Step 6

Suppliers


Setup Steps Flow

SystemControls

LocationFlexfield

Step 13

Locations

Step 14 Step 15

Step 19 Step 20 Step 21


Step 16

Asset Keys

Step 17

Quickcodes

Step 18

Fiscal Years

Calendars Security

DepreciationMethods

DepreciationCeilings

Investment Tax Credits

Book Controls


Setup Steps Flow

Finished!


Prorate/RetireConventions

Price Indexes AssetCategories

Distribution Sets

Leases Warranties

Step 30Step 28 Step 29

Insurance

Step 31 Step 32

Profile Options


Oracle Assets Key Flexfields

To run the application, three key flexfields must be set up.

Asset CategoryKey Flexfield

Asset LocationKey Flexfield

Asset KeyKey Flexfield


Setting Up Key Flexfields

Define Value Sets

Define Flexfield Segments

Define Values for Each Segment

1

2

3


Asset Category Key Flexfield

Asset Category Key Flexfield

Purpose

Max # of Segments

Maximum Width

Table Name

Segment Qualifier

Use Dynamic Insert

Unique ID Column

To group assets by financial information

7

30 spaces

1 segment must be designated Major segment

FA_CATEGORIES

No

CATEGORY_ID


Location Key Flexfield

LocationKey Flexfield

Purpose

Max # of Segments

Maximum Width

Table Name

Segment Qualifier

Use Dynamic Insert

Unique ID Column

To group assets by physical location

7

30 spaces

1 segment must be designated State segment

FA_LOCATIONS

Yes, if desired

LOCATION_ID


Asset Key Key Flexfield

Asset KeyKey Flexfield

Purpose

Max # of Segments

Maximum Width

Table Name

Segment Qualifier

Use Dynamic Insert

Unique ID Column

To group assets by non-financial information

10

30 spaces

No qualifier segment

FA_ASSET_KEYWORDS

Yes, if desired

CODE_COMBINATION_ID


Creating Key Flexfield Combinations

When creating new key flexfield combinations for the Location and Asset Key key flexfields, the following applies:

Key Flexfield Segments Structure

Allow Dynamic Insertion ?

Combinations created automatically

Must manually create combinations

YesNo


Specifying System Controls

Oracle Assets System Controls

Enterprise Name Oldest Date Placed in Service

Flexfield Structures Automatic Asset Numbering


QuickCodes

QuickCode Type QuickCode Value

Asset Description Enter values to standardize asset

descriptionsJournal Entries You cannot enter new Journal Entry values,

but

you can change the descriptionsQueue Name Enter values to describe your hold queues

for Mass AdditionsProperty Type Enter values to describe your property

Retirement Enter values to describe your retirements

Asset Category Enter values to describe your major asset categories (only used with table validation)


QuickCodes

QuickCode Type QuickCode Value

Asset Subcategory Enter values to describe your asset subcategories (only used with table

validation)Unplanned

Depreciation TypeYou can enter to describe different types of

unplanned depreciation adjustments

Lease Frequency You cannot alter existing or enter new Lease Frequency values, but you can change the

existing descriptions.Lease Payment Type You can enter lease payment types in

addition to

Annuity, Balloon Payment, Bargain Purchase Option, and Bargain Renewal Option


Defining Fiscal Years and Calendars

Define Fiscal Years

Define Calendars

Prorate Calendar

DepreciationCalendar

Assign to Asset Books


Setting Up Fiscal Years

• Set up multiple fiscal years with different names to assign to different asset books

• The calendar for a tax book must use the same fiscal year name as the calendar for the associated corporate book

• Define fiscal years from the oldest date placed in service through the current fiscal year

• At the end of each fiscal year, the depreciation program automatically generates the dates for the following fiscal year and calendars


Setting Up Asset Calendars

Prorate Calendar

Determines the prorate period that is used to select the annual depreciation rate

Depreciation Calendar

Determines the number of accounting periods in a fiscal year


Sharing Calendars

Multiple books can share the same calendar

Tax books can have different calendars

Tax books can also share calendars with their corporate books

Corporate Corporate

Tax Tax

Tax


Defining Price Indexes

• Using Price Indexes is optional

• A price index enables you to calculate gains and losses for retirements using current value rather than historical cost– If you do business in a country that requires you to

base gains and losses on current value rather than historical cost, Oracle Assets enables you to set up price indexes to calculate the gains and losses for your asset upon retirement

• When you retire an asset assigned to a category and book for which you have defined a price index, you can run the Revalued Asset Retirements Report which uses the revalued asset cost in calculating gains and losses


Profile Options

Account Generator: Purge Runtime Data

FA: Number Mass Addition Parallel Requests

FA: Allow Swiss Special Assets FA: Number of Parallel Requests FA: Archive Table Sizing Factor FA: Print Debug FA: Cache Sizing Factor FA: Print Timing Diagnostics FA: Deprn Single FA: Security Profile

FA: Generate Expense Account FA: Default DPIS to Invoice Date FA: Large Rollback Segment Name

FA: Mass Copy All Cost Adjustments


Profile Options

Profile Option Required Default ValueEnd UserUpdatable

Account Generator: Purge Runtime Data Optional Yes Yes

FA: Allow Swiss Special Assets Optional No default No

FA: Archive Table Sizing Factor Optional 100 Kilobytes No

FA: Cache Sizing Factor Optional 25 No

FA: Deprn Single Optional No No

FA: Generate Expense Account Optional No Default No


Profile Options

FA: Large Rollback Segment Name Optional No default No

FA: Number Mass Addition Parallel Requests

Optional 2 No

FA: Number of Parallel Requests Optional No default No

FA: Print Debug Optional No default Yes

FA: Print Timing Diagnostics Optional No default Yes



Profile Options


FA: Security Profile Optional No default No

FA: Default DPIS to Invoice Date Optional No No

FA: Mass Copy All Cost Adjustments Optional No No


Asset Insurance

Oracle Assets provides a window and reports to help you manage insurance values and other insurance information for your assets.

• You can view and enter insurance information for an asset and assign more than one type of insurance to an asset.

• Asset insurance information includes insurance categories, current insurance value, and optional updates that affect the insurance value, such as additions or retirements.


Entering Asset Insurance Information

Prerequisites:

• Enter suppliers in Oracle Payables with a supplier type of Insurance Company

• Set up Asset Price Indexes, if required

• Set up Insurance Category QuickCodes, such as Fire, Storm, Theft

• Set up Hazard Class QuickCodes

• Set the profile option FA: Allow Swiss Special Assets to Yes if you are planning to enter Swiss special case assets, such as Swiss buildings


Implementing Oracle Assets

Plan Implementation Setup Asset Mgmt

Convert Existing Asset Information

Reconcile With Previous System

1 2

3 4


Planning Implementation

Plan Implementation

Ask About Company History

Obtain Asset Information

Determine Conversion Period

Decide on Oracle Assets Setups


Key Flexfields Planning Considerations

General Ledger

Oracle Assets

Accounting Flexfield

Category Flexfield

Location Flexfield

Asset KeyFlexfield

Flexfield shared with Oracle Assets

Flexfields Owned by Oracle Assets


The Key Flexfields Planning Phase

Decide which flexfield to implement

Learn about a specific flexfield

Plan the structure

Plan the segments

Plan the segment validation

Allow for future needs

Plan to use additional features

Document your plan






1 2

3 4



Transfer Data to Oracle Tables

Map Information

Load the FA_MASS_ADDITIONS Table

Add Additional Asset Details

Send Mass Additions to Oracle Assets



Using the FA_MASS_ADDITIONSTable for Conversion

Legacy system

Data uploaded to Asset Mgmt system

FA_MASS_ADDITIONS

Populate theinterface table






1 2

3 4


Post Conversion Reconciliation


Reconcile Asset Information

Run Systems in Parallel


Other Conversion Issues

Pooled Assets

Barcodes

Acquisitions


Maintaining an Audit Trail

FA_BOOKS FA_DISTRIBUTION_HISTORY

FA_TRANSACTION_HEADERS

Transactions FilesAudit


Maintaining Audit Trails

Adding an asset

Adjusting in the period added

Running depreciation

Transferring the asset

Adjusting in a later period

Tracking distribution information


Defining Asset Warranties

You can define and track descriptive information on manufacturer and vendor warranties in Oracle Assets

• You define the warranty information in the Asset Warranties window

• You can then assign assets to these previously defined warranties in the Asset Details window

• You can assign any number of assets to the same warranty– If a warranty has any assets assigned to it, you

cannot update or delete the warranty– You can attach the asset to a different warranty at

any time


Creating Leases

Use the Lease Details window and the Lease Payments window to perform the following tasks:

• Enter a Lease

• Enter a Payment Schedule

• Create an Amortization Schedule


Summary

In this lesson, you should have learned how to:

• List the Oracle Assets setup steps

• Discuss defining the Oracle Assets three key flexfields

• Discuss implementation issues in setting up the three Oracle Assets key flexfields

• Discuss implementation considerations for System Controls options

• Explain the use of Quickcodes in Oracle Assets


Summary

• Explain how fiscal years and calendars are used in Oracle Assets

• Discuss implementation issues in setting up calendars

• Explain the Oracle Assets profile options

• Discuss the key processes that need to be completed when planning an Oracle Assets implementation

R12 control setup assets

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