Steps
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Open Accounting → Fixed Assets and Asset setup with accounting setup access.
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Enter Category name, choose the depreciation method and its useful life or annual rate, and set Active category.
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Expand Ledger account mappings and verify each required mapping points to an active account appropriate to its role.
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Choose Create category. For an existing category use its edit action and Save category defaults; these defaults apply to new assets, not an unreviewed rewrite of existing asset policies.