Hi
The below document talks about high level configuration required:
New Asset Accounting EHP7 - Functionality and configuration
Some of the high level configuration required are:
1. Define the APC and Take over terms for each depreciation area
2. Create depreciation area in case you use parallel currencies
3. Define the technical clearing account for Asset Acquisition. This is done in AO90
These key steps need to be completed before you start your migration else your premigration checks will fail. Additionally, these are mandatory steps to new Asset Accounting which is again a mandatory prerequisite for S/4 HANA Finance.
Thanks & Regards
Sanil Bhandari