Responsibility Center Accounting

As many fixed assets are purchased or constructed by COA distributions that are not the one(s) used to record the asset for financial reporting purposes (separate from the General Capital Assets Fund discussed above). Recording how funded is an important fixed asset task as well as ensuring asset accounts and other accounting activity is recorded properly. To accomplish this, Fixed Assets has an accounting line indication of Responsibility Center Posting that will direct the system to use what is recorded in the Responsibility Center Accounting section of the Asset Header instead of the COA at the Accounting Line. The recording of depreciation has a separate indication: Depreciation Structure. Please refer to the “Header” topic for more details on this feature.