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Can someone please provide detailed steps for adding DFFs in the asset addition page

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I want to add a DFF in the asset addition page but i am not sure about the steps to be followed. I followed this document How to Create Fixed Assets DFF (Descriptive FlexField)in Order for it to be Available in the Additions Page? (Doc ID 2601253.1) but it is not very detailed.

Like why do we need value sets and is the value set from General Ledger or Fixed Assets? Any help would be appreciated

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