Module 1: Define Asset Category

Lab - 6 Define Asset Categories

Objective: Define Asset Categories
15-20 minutes

Instructions:
In this lab you will define a new Asset Category combination and associate it with two asset
books. The tasks you will do in this lab are:

• Define a new Asset Category combination with the Major category named
XX_COMPUTER and the Minor Category XX_SERVER
• Use the Oracle Assets seeded Responsibility > Assets, Vision Operations (USA).
• You want to allow this Asset Category to be used in both the OPS CORP and OPS
FEDERAL asset books

1. Navigate to the Asset Categories form.

(N) Setup > Asset System > Asset Categories

2. In the Category field, choose XX_COMPUTER as the Major Category segment and
XX_SERVER as the Minor Category segment.

3. Accept the default values in the checkboxes and enter the following information:

Description XX-Category
Category Type Non-lease
Ownership Owned
Property Type Personal
Property Class 1245

4. In the Book field, select OPS CORP from the LOV.

5. Enter the general ledger accounts as shown below:

Field Name OPS CORP Book OPS FEDERAL Book

Asset Cost Account
Asset Clearing Account
Depreciation Expense
Segment
Accumulated Depreciation
Account
Bonus Expense
Bonus Reserve
Revaluation Reserve
Depreciation Method
Life
Prorate Convention
Retirement Convention
01-000-1560-0000-000
01-000-1570-0000-000
01-000-7360-0000-000
01-000-1660-0000-000
01-000-7360-0000-000
01-000-1660-0000-000
01-000-1550-0000-000
STL
7 Years 0 Months
FOL-MONTH
FOL-MONTH
01-000-1560-0000-000
01-000-1570-0000-000
01-000-7360-0000-000
01-000-1660-0000-000
01-000-7360-0000-000
01-000-1660-0000-000
01-000-1550-0000-000
STL
5 Years 0 Months
MONTH
MONTH

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 Module 1: Define Asset Category

6. (B) Default Rules

7. Enter the Default Depreciation Rules as shown in the Task.

8. Save your work and close the Default Depreciation Rules form.

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 Module 1: Define Asset Category

9. The cursor should be in the Book field of the Asset Categories window.

10. (I) New

11. Select OPS FEDERAL from the LOV.

12. Enter the general ledger accounts as shown in the Task.

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 Module 1: Define Asset Category

13. (B) Default Rules

14. Enter the Default Depreciation Rules as shown in the Task.

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 Module 1: Define Asset Category

15. (I) Save

16. Close the Default Depreciation Rules form.

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