Special considerations may dictate that an asset be tracked and inventoried, but not be capitalized within the accounting system. In such cases, an asset may be flagged as 'Memo'. To do so, select the Memo Asset Indicator on the Fixed Asset document header.
Memo assets update the Memo Asset and Memo Contra-asset balance sheet accounts established on the Fixed Asset Type (FATP) and the System Special Accounts (SPEC) tables. The memo asset and contra-asset accounts offset so that the net balance sheet impact is zero.
If an asset is being created as a Memo asset and meets the Fixed Asset Capitalization Criteria (FACC) Minimum Dollar Threshold and/or Minimum Useful Life values when the Systems Options Allow Memo Classification of FACC Assets flag is not selected errors will be issued.
The steps for this asset are same as Record Standard Fixed Asset Manually except setting the Memo flag on the header and selecting the Classification indicator as Memo at the component level.