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Oracle FA Cloud -Setups

In this post i will outline the list of setups required for the typical oracle FA implementation.

  1. Manage Fixed Asset Flex-fields- we have to first define the below flex fields. for each and every flex-field we have to define the respective values sets. Category Flexfield- (Major and Minor) Key Flex Field Location Flex Field-(Country,State,County,City, Address1,Address2,Zipcode)

  2. Manage Segment Labels-Under this we create the segment labels for category ,Key and location flex fields. In short these are qualifier identifiers for major and minor categories , asset key flex fields along with all the location segments.

  3. Manage fixed assets key flex fields - Under this we create the structure and structure instances for all three flex-fields

  4. Manage System controls- Under this one will provide the enterprise name , oldest data placed in service , Category , location and asset-key flex-fields along with starting asset number.

  5. Manage Asset Keys - Here we just provide the asset key value , effective start date and end date along with enabled flag.

  6. Manage Asset Locations - Under this we maintain the entire asset locations .

  7. Manage Fiscal years - We maintain standard and statutory fiscal years- Details like fiscal year, start date , end date , mid year start date

  8. Asset Calendars - Here we capture the standard monthly, statutory monthly ., Standard daily and Statutory daily . Even leap years gets captured as a part of this setup.

  9. Manage Prorate Conversions- Name , Description , Fiscal year captured here.

  10. Manage Deprecation Methods-Here we define the deprecation method and calculation basis along with life in months/years/periods

  11. Bonus rules - To define bonus rates between a year range and rate percent.

  12. Manage Ceilings- We define the ceiling type which is Expense or cost

  13. Manage Asset Books - This is where you define the Corp books and their accounting information.

  14. Manage Fixed assets profiles - We configure the various profile options under this.

Hope this helps ! Happy learning.

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