While implementing fixed assets, setting up system control is the one of the first and most important setup as this is a onetime setup and also a instance level setup rather than asset book / operating unit / Ledger specific setup. So all the fixed assets books which will be implemented  in the current instance will use the key flex field structures setup at system options level.

Below setups are done at system control level

  • Enterprise name – Enter the name which you want to see in reports. This name can be altered / changed even at a later stage
  • Oldest date placed in Service – Determines what is the oldest date placed in service with which the asset can be created in the application and it also determines the date from which all the calendars, fiscal years etc needs to set.

You can only update the Oldest Date Placed in Service BEFORE you assign any calendars to depreciation books.

  • Flex field Structures– Enter the Location, Category, and Asset Key Flex field structures you want  to use.
  • Starting Asset number – Enter the Starting Number at which you want Oracle Assets to begin automatically numbering your assets.  If you are converting from another system and would like to keep the asset numbers same as the legacy system then the starting asset number entered in system control has to be greater than the number of assets which you want to convert. It is recommended to take the number of assets that you have/want to convert and start with the next highest potential.

Example: If you have 6500 assets convert from legacy system, then enter the starting asset number as any number higher than 6500.

Automatic asset number is generated by sequence FA_ADDITIONS_S and this sequence is applicable to all the books in a instance. For e.g if you have multiple books in a single instance, then the automatic asset numbers will be assigned to both the books depending on the sequence of addition and the numbers will not be in sequence at book level.

  • Last asset number used – This field automatically gets updated based on the maximum value used in FA_ADDITIONS_S sequence.

For more information on setting up system options and each of above options, please refer asset user guide.