Setup Flows

1. Create or Use existing Responsibility

2. Define FA Key Flexfields

Step 1: Category Flexfield

Before Build up the flexfield segments need to create Value set in advance.

Maintain Value Sets

Step 2: Location Flexfield

Maintain Value Sets

Step 3: Asset Key Flexfield

Maintain Value Sets

3. Define System Control

4. Define Accounting Information

Step 1: Define Fiscal Year

Step 2: Define Asset Calendar

Step 3: Define Prorate Conventions

Defining which date system does the depreciation

5. Define Book Control

HERMES-EPITEK setting Fixed Assets Written Off 751020 Asset Clearing 150099 Default Account 999999

Expense Asset Expense

6. Define Depreciation Method

7. Define Asset Category

Building

Asset Cost: This will be the Asset account. In Mass Addition, you can decide each interface record will transfer to which category, accounting entries will Debit the Asset Cost account. Choose a category to define.

HERMES-EPITEK setting Building 169000 Asset Clearing 150099 Depn - Leasehold Building 750060 Provn- Leasehold Building 190160

Asset Asset Expense Asset

IT Equipment

HERMES-EPITEK setting Equipment & Tools 150000 Asset Clearing 150099 Depn- Equipment & Tools 750050 Provn - Equipments & Tools 190150

Asset Asset Expense Asset

Furniture

HERMES-EPITEK setting Furniture & Fittings 130000 Asset Clearing 150099 Depn - Furniture/Fittings 750030 Provn - Furniture & Fittings 190130

Asset Asset Expense Asset