The Fixed Assets Profile page enables you to set up basic information required for running the Fixed Assets System. This includes numbering options, fiscal year information, labels for user-defined fields, and defined ranges for the automatic creation of fixed assets from requisition and purchase order line items, as well as non-purchase order payments.
The Defined Windows item lets you create extra data entry pages for Fixed Asset records based on your organization's information needs.
Menu Path: System Administration > Administration > Profiles > Fixed Assets Profile
Acquisition Interface Option
The Fixed Assets Profile enables you to set up ranges for distribution accounts and dollar amounts. The system uses these ranges to determine whether requisition and purchase order line items and non-purchase order payments should be flagged as potential fixed assets. Once these transactions are posted, they can be processed in Fixed Asset's Acquisition Interface option.
How the system determines this depends on whether the transaction relates to the entry of a requisition or purchase order in Purchasing or the payment of a non-purchase order in Fund Accounting.
Purchase Orders and Requisitions
When a requisition or purchase order line item uses a distribution account in the minimum-maximum account range in the Fixed Assets Profile, the system checks the item's unit price. If the price is within the minimum-maximum amount range, the item is flagged as a potential fixed asset. In this case, the transaction is saved to the Acquisition Interface table, when the purchase order is posted. (This also applies to requisitions that have been converted to purchase orders.)
Non-Purchase Orders
The process for non-purchase order items is the same as purchase order items with one difference. Since these records do not include unit prices, the system uses the payment's full amount in determining whether the item should be flagged as a potential fixed asset and saved to the Acquisition Interface table. This occurs when payments are recorded in Post Accounts Payable and Batch Accounts Payable.
When you define the account and amount ranges in the profile, you can also designate account and amount ranges for capital (depreciable) assets. The distinction between ranges for a capital asset and non-capital (inventory) asset is determined in the Fixed Assets Profile page's Capital field.
Fields
The Fixed Assets Profile page has four sections: Client Information, General Information, User Defined, and Capital Accounts. Following are descriptions of each section's fields.
Client Information Section
Use this section to enter basic identifying information for use in Fixed Assets reports:
|
Field |
Description |
|---|---|
|
Client |
Your organization’s name as it should appear in the header of Fixed Assets reports. Character/40 |
|
System |
Title of the software package. Character/40 |
|
Company |
Software vendor that supplied this package. Character/40 |
General Information Section
Use this section to define the numbering of asset records and enter fiscal year information:
|
Field |
Description |
|---|---|
|
User Assigned Asset ID |
Checkbox determining whether asset IDs are assigned manually by the user or automatically by the system. Select the checkbox for user-assigned ID numbers. For system-assigned IDs, leave the box blank. |
|
Next Asset ID |
Number that will be assigned to the next asset record added, if you use system-assigned asset IDs. This is generally a system-maintained field. You will enter a starting number upon initially setting up the Fixed Assets Profile, but otherwise, as long as the User Assigned Asset ID checkbox is not selected, this field updates automatically as asset records are created. |
|
Current Fiscal Year |
Current fiscal year. This setting is used to determine the year the system updates in the GASB table for tracking asset costs. |
|
Fiscal Year Start Date |
Starting date for the current fiscal year. This date is used for calculating asset depreciation. You will update it through the Fixed Assets Year End Processing option. |
|
Fiscal Year End Date |
Ending date for the current fiscal year. This date is relevant for Fixed Assets report options. |
User Defined Section
This section lets you set up titles for the five user-defined fields available in the Asset Detail Information page’s General tab:
|
Field |
Description |
|---|---|
|
User Defined Field Title (1 - 5) |
Titles for each of the five user-defined fields available in standard Fixed Assets records. Character/15 If you use the Fixed Assets Communicator module, then you should label the first user-defined field with the title Room #, and the fifth user-defined field should have the title Old Asset ID #. The corresponding columns in the Asset Upload file are defined to store this data. Room # is often tracked in third-party auditing software, and the Old Asset ID # lets you keep track of cases where an asset record’s number changes when you transfer its information from an outside system into Fixed Assets. |
Capital Accounts Section
Use this section to set up ranges for accounts and corresponding dollar amounts to flag purchase order items and non-purchase order payments as potential fixed assets and save them to the Acquisition Interface table. For each range, you can also decide whether certain asset records should be considered capital (depreciable) or non-capital (inventory) assets.
To access this section, click OK while you are in one of the Fixed Assets Profile page's other three sections.
Important
For information on how the following fields are used, refer to the Acquisition Interface Option section, which precedes the Fields section.
|
Field |
Description |
|---|---|
|
Minimum Account |
Account code at the low end of the account range being defined. For example, if the account range is 410 to 450, enter 410. |
|
Maximum Account |
Account code at the high end of the account range being defined. For example, if the account range is 410 to 450, enter 450. |
|
Minimum Amount |
Low dollar amount associated with the account range. For example, if the dollar range for an account range is $500 to $5,000, enter 500.00. |
|
Maximum Amount |
High dollar amount associated with the account range. For example, if the dollar range for an account range is $500 to $5,000, enter 5000.00. |
|
Capital |
Capital asset setting that applies to records in the defined account and amount ranges.
A capital asset is any item that needs its depreciation tracked. These assets also must be tracked in the GASB table. Non-capital assets are not depreciated and do not update the GASB table. |