Program Asset Generation is the process to automate the management and recognition of capital balances with regard to construction in progress. The process will generate Fixed Asset documents that increase, change the Fixed Asset Type, and cancel Fixed Asset Components.
The following highlights some of the key features in relation to the Program Asset Generation business process:
Provide a relationship between a construction project and a capital fixed asset, including betterments.
Automatically load accumulated costs using the original funding information to the value of the fixed asset (i.e., capitalize) on a periodic basis.
Accumulate only eligible project costs based on object code, activity code, and posting code.
Provide the ability to distribute a single eligible expenditure line across multiple fixed assets.
Provide the ability to see the accumulated project costs associated with a fixed asset.
Provide the ability to review project costs and adjust if necessary prior to posting to the fixed asset.
Provide the ability to see all fixed assets and accumulated costs associated with a project.
Limit the process to certain asset types only (e.g., building and infrastructure)
Provide the ability to capture eligible project costs retroactively (that is, eligible costs entered prior to the establishment of a relationship to a fixed asset).
Transfer balance from CIP to correct account on project completion.
Provide the ability to continue accumulating project costs to a fixed asset after project completion.
Provide the ability to back out project costs if any from a fixed asset or betterment if the project is cancelled.
This section includes the following sections: