FA Transaction Type

All fixed asset data maintenance is performed with this single transaction type. The individual transaction codes within that type present select groups of information to perform one or more given tasks in the asset lifecycle. For this transaction type the only Transaction Function allowed is New. Modification and Cancellation are not allowed. When there needs to be a modification or cancellation, a new transaction must be created, thus there will only be Transaction Version of 1 within Fixed Assets.

The structure of the Fixed Asset (FA) transaction type (not to be confused with the Fixed Asset Acquisition (FA) transaction code) is as follows where not all transaction codes will display each element of the structure:

Header (only 1)
Component (1 - n)
Warranty (1 - n) - Also known as Repair and Maintenance
Accounting (1 - n)

The number of fields across all of the Fixed Asset transaction codes is numerous with many being used on multiple transaction codes, others on only a few, and still others that apply to only one. Each transaction code has been delivered with a set of fields displayed to allow a user to record the different event(s) for a transaction code with a number of other fields for reference. Each tab of the transaction type contains a listing of all fields that can appear on a given transaction code. While the meaning of the field may not change, the field may appear editable on one transaction code, protected on another, and hidden on a third.

Each tab topic lists all fields in alphabetical order for easy location of information. Fields that are covered in the Header, Commodity, and Accounting topics in the Transactions User Guide are not listed within this Fixed Asset user guide. Any not about a field being required or conditionally required will only apply if that field is visible on a given transaction code.

Many transaction fields have a second version of the field that starts with ‘New’ to capture an optional or required change in values. Separate descriptions are not written for those fields as they are identical to the ‘regular’ field. In a few instances there is a second version of a field that starts with ‘Seller’ to display important information when recording an internal sale. Separate descriptions are not given for those fields as they are the same, but just protected and inferred.

With a design that requires different specialized transactions to update different aspects about a fixed asset, the transaction type has an edit that will prevent a subsequent transaction from validating successfully if there is already another Draft or Pending transaction against the same asset. The subsequent transaction must be discarded and the first completed, or vice versa.

Certain transaction codes will present a transaction menu option – Fixed Asset Equity Sources. This will transition to the Fixed Asset Equity Sources page where you can define one or more records to a Fixed Asset and Component Number outside of the transaction. For more information on this page, please refer to the “Fixed Asset Equity Sources” topic under Advanced – Setup for more information.

FA Delivered Transaction Codes

The Fixed Asset (FA) Transaction Type has the following delivered Transaction Codes (listed alphabetically by Transaction Name).

Transaction Name	Transaction Code	Intended Use and Special Notes
Fixed Asset Acquisition	FA	Primarily used to record information about newly acquired assets and asset components from an external or internal entity. Other uses include recording betterments, increases in the number of units, and removing the pending asset accounts when the recording of an asset was a mistake on the payment request.
Fixed Asset Cancellation	FC	Used to cancel a previously recorded fixed asset or component that was recorded in error, but has not been depreciated yet. The cancellation not only reverses accounting entries but removes the asset from the Fixed Asset Registry inquiry pages, although all history is retained in the Fixed Asset Component Journal.
Fixed Asset Correction	FACR	A transaction only created by a system process to correct accounting information recorded in error as part of a data fix.
Fixed Asset Depreciation Expense	FE	The transaction used to record depreciation when the Depreciation Method is Manual.
Fixed Asset Disposition	FD	The transaction used to record the disposition/sale of an asset and asset component to an external or internal entity. When recording an internal sale, this transaction is used with a copy forward action to create a Fixed Asset Acquisition (FA) transaction to record the internal acquisition.
Fixed Asset Increase/Decrease	FI	This transaction is used to adjust the actual cost of an existing asset or asset component.
Fixed Asset Intent	FN	When using the Intent functionality, this transaction is used to establish the attributes that will be used on all subsequent assets purchased to the intent. This transaction updates a different set of Intent registry pages instead of the typical Fixed Asset registry pages. The FN is the only fixed asset transaction that can be modified until the referenced Fixed Asset transaction is processed to final.
Fixed Asset Inter Fund Transfer	FAIT	A special type of transfer transaction where a change of Fund/Sub Fund is allowed if the asset has been setup to use Responsibility Center COA instead of Accounting Line COA.
Fixed Asset Internal Sale	FS	The single transaction that can perform both the internal sale and acquisition that is entered by the buyer. Certain restrictions must be met: Component lines have only 1 accounting line or accounting lines all use Responsibility Center COA Entire asset must be sold
Fixed Asset Modification	FM	The transaction used to make non-financial updates to include not just descriptive information but also depreciation terms as well as updates to assets using the Modified Depreciation Method.
Fixed Asset Repair and Warranty	FRM	The transaction used to make updates to warranty information as well as repair and maintenance information.
Fixed Asset Selling Price Change	FP	When an asset or asset component has been sold externally but recorded with the incorrect sales price, this transaction is used to adjust that sales price and adjust any gain or loss originally posted. It can also be used to adjust various disposal information fields.
Fixed Asset Transfer	FT	A special type of transfer transaction where a change of Fund/Sub Fund is not allowed that would have an accounting impact beyond catching up depreciation.
Fixed Asset Type Change	FX	The transaction used to change the Fixed Asset Type of an existing asset or component if depreciation has not been recorded (except for memo assets). A limited number of descriptive and reporting fields can be changed at the same time.
Mass Depreciation	ME	When depreciation is calculated by the Mass Depreciation system process, this transaction is created to record that activity. It is not one that can be reviewed manually.