Set Up Oracle Assets Part I

We just got Oracle Apps R12 to play with at the office. The Financial modules were set up and we are now good to go to set up Oracle Assets.
Let's get started:

First we need to setup the 3 Asset Flexfield namely:

• Asset Key Flexfield
• Category Flexfield
• Location Flexfield

Create a Value Set for Asset Key
Create a segment Asset Key for Asset Key Flexfield and assign the value set to it.














Do the same for Location Flexfield.

Now for category flexfield, I decided to break it up to a Major and Minor Category.




























For the minor category value set put the value validation as Dependent














Edit Information











Now go to Segment Values and Insert values for asset key, location, major category and minor category. Check the below screen for an example

















Proceed to Assets-> Setup->Asset System->System Control

















Next is defining Fiscal Year



















Next is defining your calendar





















We are done for part 1. Check for part 2 in my next post.