Accounting

Field Name

Required?

Description

Accumulated Depreciation

Derived

When a fixed asset transaction updates depreciation, the depreciation expense is allocated to the fixed asset accounting line based on the net book value (asset cost less accumulated depreciation) of the asset component's accounting line(s). Each depreciation update is summarized as the Accumulated Depreciation Amount. This is not editable on the Acquisition / Betterment transactions. This is a display-only field.

Award:

Code

Department

ID

Vendor Line

Commodity Line

Accounting Line

Conditionally Required

When the Asset Classification is Normal, all of the award fields are required and typically populated with the Fixed Asset Shell Generation process

Payment Request Transaction:

Code

Department

ID

Vendor Line

Commodity Line

Accounting Line

Conditionally Required

When the Asset Classification is Normal, all of the payment request fields are required and typically populated with the Fixed Asset Shell Generation process

Disbursement Transaction:

Code

Department

ID

Vendor Line

Accounting Line

Conditionally Required

When the Asset Classification is Normal, all of the disbursement  fields are required and typically populated with the Fixed Asset Shell Generation process

Depreciation Amount

Required

A required amount that is system-calculated and used to generate the posting line for depreciation.

Funding Budget FY

Required

The budget year associated with the funding used to acquire an asset. This is often the same year as the common Budget FY field, but can be different for reporting reasons.

Funding Fiscal Year

Required

The fiscal year associated with the funding used to acquire an asset. This is often the same year as the common Fiscal Year field, but can be different for reporting reasons.

Historic Asset Cost

Calculated

The collective amount an accounting line funded a component that includes the original amount, betterments, and increase/decrease adjustments.

Internal Sale Gain Loss

Calculated

This is calculated in case of internal sale and purchase transactions.

Responsibility Center Posting

Required

A key indication as to whether or not accounting for a fixed asset (except depreciation) will use the COA of the accounting line or a combination of accounting line and the COA in the Responsibility Center of the asset. When false, only the accounting line is used.

This field can default to true as defined for an individual fund. That inference can also be a powerful one if also defined as such for a fund. A capital project fund is an example of a fund that will not have the asset recorded to it and no user should be able to change that fact.

Selling Price

Calculated

A required amount that is system-calculated and used to generate the posting line.