Fixed Asset Types is the classification of Fixed Assets. Standard Asset Types include Building, Land, Equipment & Furniture and Vehicles. Fixed Type Table (FATP) establishes specific balance sheet accounts and options to be associated to each asset type. For each asset type, a series of balance sheet accounts and options need to be defined. For example users define the optional Balance Sheet Account and Sub Balance Sheet Account used to accumulate asset balances for specific asset type. In addition, the accumulated depreciation, pending asset, memo asset and contributed offset balance sheet accounts for each asset type on the FATP table.