Select Capital Assets Configuration from the Capital Assets or Administration menu. The window opens with the General tab displayed.
Click the checkbox for a configuration value, and click the Edit button at the bottom of the window. The Edit Configuration Value window opens displaying the name of the configuration value and its system-defined definition in the Description field.
Enter text in the Configuration Value field or select from the Value pull-down list, and click Save. You're returned to the Capital Assets Configuration window with the new value displayed.
Accounting cycle is a read-only field that displays the accounting cycle currently associated with the Capital Assets module. All operations performed in Capital Assets will use this cycle. This accounting cycle will usually match the system’s accounting cycle, however, the fiscal year rollover procedure allows this accounting cycle to exist separately from the system’s current accounting cycle until the accounting cycle for Capital Assets has been rolled over. All assets must have depreciation fully run in the current fiscal year before rollover is allowed. During this time, the cycle may be different than the new fiscal year. Note: Once the Capital Assets accounting cycle has been rolled over, it cannot return to the previous cycle.
Enter the methods by which an asset can be acquired.
The default condition is Good. Enter additional conditions assets.
Enter the text that will appear on the asset tag labels after the words "Property of."
Only used If the system is set to generate general ledger transactions. Select the fund to use in general ledger transactions to track capital asset acquisitions, depreciation, and disposal. When the system is set to generate general ledger transactions, entries for each of the three activities are recorded in this fund. The entries are accounting cycle-dependent.
When the Accept Asset Item command is selected in Asset Management, the expenditure account entry in the Current field is moved to the Acquisition field — it becomes the acquisition history entry. If the asset was purchased using a Proprietary fund type, the fund in this field, along with the funds identified for the Asset Category, is used to create the expenditure account code that now appears in the Current field.
Specify how often depreciation transactions may be run against eligible assets. Options are: none, monthly, quarterly, and annually. If None is selected, depreciation cannot be run.
Depreciation is run on assets, not individual asset items and will be run on all assets at the same time. AptaFund supports the straight-line — full-month convention — method of depreciation only. If the frequency is set to run quarterly and it is the end of the year and you have not yet run depreciation, AptaFund will run depreciation four consecutive times on all assets.
Important: This selection is not to be changed after depreciation is run. If the frequency is changed after depreciation has already been run, it will have to be changed back to its original setting in order to run depreciation.
Create the list of methods by which an asset can be disposed.
Select the account structure element whose description is used to describe funding sources. The list includes all elements in the account structure for the selected accounting cycle.
Select whether or not the Capital Assets module will interface with the General Ledger.
If Yes is selected, AptaFund creates the various GL transactions to record the asset acquisition, depreciation, and disposal.
If No is selected, the Capital Assets module is used solely for asset-tracking. The system still creates assets through the Order Receipt and Vendor Invoice windows, but there is no integration to the General Ledger. It is up to the user to determine how much or how little information migrates to the general ledger through manual GL entries.
Return to Capital Assets Configuration Overview
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