About setting up your contract management environment
Before you can create contracts in Asset Management Suite, you must set up the following prerequisite financial configuration item types for contracts:
An accounting period represents a yearly range of dates that corresponds to a set
of financial records or reports.
See Configuring accounting periods.
Cost types specify a type of expense and enable you to logically group expenses. Cost type attributes affect depreciation values, group allocation, and other reporting areas. Asset Management Suite includes predefined cost types, but you can add custom cost types if you need.
The depreciation schedule lets you specify the rates and the dates
that are associated with depreciating assets and other resource
Currency configuration item type lets you specify different currencies and their rates compared to the base currency.
After you specify the base currency, you can use the currency values and rates with the currency convertor.
The Quick Start - Contracts Web part displays the items that must be completed in the order shown, when you first begin managing contracts in Asset Management Suite.