Frequently Asked Questions

This can be done using the Fixed Asset Shell Generation process. Please refer to the “Complete Shell” topic in this user guide for details on how to capitalize a commodity for which the payment request and disbursement has been created.

The dollar threshold limit to capitalize a commodity purchased can be established on the Commodity Fixed Asset Threshold reference page. Also, refer to the "Commodity Fixed Asset Threshold" topic on where to establish the dollar threshold limit for the Fixed Asset commodity.

The user can also establish capitalization criteria on the minimum dollar value and minimum useful life of an asset. Please refer to the "Fixed Asset Capitalization Criteria" topic for information on where the capitalization criteria can be established.

The details of the Fixed Asset transactions (shells) are stored on the Generated Shell Details page. Please refer to the "Generated Shell Details" topic in this user guide for details on how to view the Fixed Asset transactions generated by the Shell Generation process.

Infrastructure assets may reasonably be expected to continue to function indefinitely if they are adequately preserved and maintained. Please refer to the "Fixed Assets Infrastructure Maintenance" topic in this user guide for details on how Infrastructure assets are stored.

Infrastructure assets need to be recorded as Composite Assets with the Depreciation Method of Modified. Estimated Amount and Actual Amount need to be provided. Please refer to the "Record Composite Assets" topic in this user guide for details on how to record Composite Assets.

Please refer to the "Unpend an Asset" topic in this user guide for details on how to unpend a generated Fixed Asset shell transaction.

Please refer to the “Responsibility Center Accounting” topic in this user guide for details on Responsibility Center Accounting.

Please refer to the "Record Memo Asset" topic in this user guide for details on how to record a Memo Asset.

Contributed classification is used when the asset was received as a donation or a grant from an external agency. Please refer to the "Record Contributed Asset" topic in this user guide for details on how to record assets received as donations or as a grant from an external agency. The Classification Indicator on the component line of such assets must be set to Contributed.

Improvement to an asset can be by way of increase in value of the asset or by addition of a new component to the Asset. Please refer to the "Record Improvements" topic in this user guide for details on how to record different types of improvements to an asset.

A change in asset value can be by way of increase or decrease in cost of the asset due to accounting adjustments. Please refer to the "Record an Increase" topic in this user guide for details on how to record a change in the cost of an asset.

Please refer to the “Depreciation” topic in this user guide for details on how Depreciation is calculated.

An asset was entered incorrectly, that is, it should not have been recorded as an asset but was inadvertently entered as an asset. The asset must be cancelled and a new asset must be entered. Please refer to the "Cancel Asset" and "Acquisitions" topics in this user guide for details on how to cancel or record a new Fixed Asset.

An asset can also require descriptive (non-accounting) changes or adjustments to existing details of assets. Please refer to the "Modify Asset" topic on how to record descriptive changes or adjustments to existing details of assets. However, if the Asset Type needs changed then please refer to the "Change Asset Type" topic on how to record changes to the Asset Type.

This can be done using the Fixed Asset Reorganization Process. Please refer to the “Transfer Asset” topic in this user guide for details on how to transfer the responsibility of an asset from one department to another department.

Disposal of an asset can be to an external entity or between two funds. Please refer to the "Dispose/Sale Asset" topic on how to record the disposal of an asset as a sale to an external entity.  

Disposal of an asset between two funds can be done either by adopting the Two-Transaction approach or by creating a FS transaction. Please refer to the "Transfer Asset" topic on how to record disposal of an asset between two funds by changing the Fixed Asset Number.

Program Asset Generation is the process to automate the management and recognition of capital balances with regard to construction in progress. Please refer to the "Program Asset Generation" topic in the Cost Accounting User Guide for details on how to record Construction work in progress assets.

A Construction work in progress asset is changed into an actual asset by changing the Fixed Asset Type of the asset. The Program Asset Generation job has the capability to generate a Fixed Asset Type Change transaction to change the asset type.