Fixed Assets Menu Options

On this page:

Main Menu

The Fixed Assets System's main menu includes three sub-menus:

Entry & Processing
Reports
Reference Tables

Entry & Processing Menu Options

Use this menu to access the main options in the Fixed Assets System:

Fixed Assets - Includes options for working with asset records regularly.
Periodic Routines - Includes infrequently used options, such as when your system is initially installed or at the end of each fiscal year.

Fixed Assets Section

Section	Description
Acquisition Interface	Enables you to add records to your Fixed Assets database from the following: Purchase order line items in the Purchasing System Non-purchase order payments in the Fund Accounting System that are designated as fixed assets As part of this, you can designate certain items as improvements and separate multi-unit purchases into individual assets.
Asset Information	Displays the Asset Information page, which enables you to add, search for, and update fixed asset records and improvements. You can also access pages for recording and posting depreciation and retiring assets and related improvements.
Inventory Editing and Posting	Displays the Inventory Edit and Post page, which enables you to change physical inventory information in your asset records. The system stores the updates in a batch file.
Transaction History	Enables you to list, print, and purge history records.

Periodic Routines Section

Section

Description

Purge Retired Assets

Displays a page for purging assets that have been retired.

Rebuild GASB Data

Use the Rebuild Fixed Assets' GASB table to first set up your system for Government Accounting Standards Board (GASB) reporting.

Year-End Processing

Completes several processes:

Start a new fiscal year, including updating dates in the Fixed Assets Profile.
Create records for storing ending balances in the Funding Source and GASB tables.
Verify that all depreciable assets are depreciated.

Reports Menu Options

The Reports menu options enable you to generate a wide range of reports on fixed asset records. This section includes a summary of each of these options. For more detailed information on each report, refer to the Reports menu section.

Report	Description
Asset Summary by Major Class	Total net of depreciation for assets in each major class for the current fiscal year or prior fiscal year.
Changes in General Fixed Assets	A CAFR-standard report that groups assets by function and activity, including any changes made to the asset during the year. It includes data for the current fiscal year or prior fiscal year.
Depreciation Audit List	A Depreciation History report which provides an audit trail of asset depreciation.
Depreciation Expense	Generates two reports: Note 1 - Depreciation Expense by Function report lists the total depreciation expense by function for the current fiscal year or prior fiscal year. This report is used in conjunction with the Note 1 report to create the disclosure Note 1 for Management Discussion and Analysis. Depreciation Expense Posting Reconciliation report reconciles the posted and unposted depreciation expense for the current or prior fiscal year by function. This information is needed to prepare the Statement of Activities.
Depreciation Listings	A detailed or summary report showing either past depreciation for the current fiscal year or projected depreciation up to a year in advance.
Detail Listing of Fixed Assets	A listing of fixed assets that includes all information contained in each asset record.
Fixed Assets by Fund Source	A CAFR-standard report comparing funding source contributions to each asset for the current fiscal year with contributions for the prior fiscal year.
Fixed Assets by Location	Assets by location and the description, category, status, date acquired, units, initial cost, and current value for each asset.
GASB Edit List	Values currently stored in the GASB/CAFR table.
Note 1 Capital Assets Activity	Lists the beginning balance, increases, decreases, and ending balance for assets by major class. It reports accumulated depreciation separately from the asset value and includes increases and decreases in accumulated depreciation.
Physical Inventory Worksheet	A worksheet for conducting a physical inventory. The worksheet shows the ID, description, location, department, and status of each asset. It also includes a space to indicate if the asset was located.
Schedule by Function & Activity	A CAFR-standard report that groups fixed assets by function and activity. You can produce a report for either the current or prior fiscal year.
Summary Listing of Fixed Assets	A summary of information for selected fixed assets. The report shows the asset ID, description, category, status, date acquired, user-defined fields, condition, department, location, and total cost for each asset.
Transfer Register Listing	Location changes to assets, either through the update procedure or the Inventory Editing and Posting option. The report sorts by old location, new location, and asset ID.

Reference Tables Menu Option

Use the options on this menu to create and maintain records of frequently-used information. The records are identified by codes that also categorize fixed assets for reporting purposes. For more detailed information on each reference table, refer to the Reference Tables menu section.

Option	Description
Activity Codes	Activities where assets may be assigned. In turn, these codes are used for CAFR and GASB reports. Generally, an activity is a subcategory of a function and can be a level of the organization structure, such as finance or personnel.
Category Codes	Categories and major classes describing assets and the accumulated depreciation account for each asset. These classify assets in the Schedule by Function and Activity report and the Asset Summary by Major Class report.
Department Codes	Various divisions or sites in your organization that use fixed assets. The Location table stores records for the physical locations where the assets are deployed.
Function Codes	Various functions where assets are assigned for CAFR and GASB reporting purposes. Generally, a function is a level of the organizational structure, such as instruction or health.
Funding Source Codes	Funds and fund types used to purchase assets. For each fund source, you also store the cost of assets for the current and prior year. These records are used in the Fixed Asset by Fund Source report.
Location Codes	Enter a location code from this table for a new asset. Location codes can be used when querying to create reports; for example, you can list all assets in a particular building.
User-Defined Codes	Records referenced in table-verified fields on user-defined Fixed Assets pages. Set up all user-defined pages in the Fixed Assets Profile.