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Contents of the Configure Asset/Template Change Settings Screen

Use the fields and options to configure the Configure Asset/Template Change Settings screen.

Write Change Details to Audit Log for

Use the options in this group box to indicate whether you want to store changes made to selected fields in Asset Master records and/or Asset Template records.

Field Description
Asset Master Records

Select this check box to write change details to an audit log for changes made to selected fields in Asset Master records.

Asset Template Records

Select this check box to write change details to an audit log for changes made to selected fields in Asset Template records.

Create Transfer Entries for Posting to G/L

Use the options in this group box to create transfer entries for posting to the G/L when changes are made in Asset Master records to asset "ownership" account, organization, and/or project fields and to accumulated depreciation account codes. These transfers must be posted in the Post Fixed Assets Journal screen in the same month in which the transfer was made.

Create transfer entries for posting to the G/L when changes are made in Asset Master records to:

Field Description
Asset ("ownership") Account, Organization, Project, and/or Reference Number fields

Select this check box to create a transfer entry for posting to the General Ledger when changes are made in Asset Master records to asset "ownership" account, organization, and/or project fields.

Normally, when you change asset "ownership" for balance sheet accounts, you must also enter a "re-class" journal entry in the General Ledger to record the transfer of ownership. If you select this check box, the enabled transfer functionality replaces the need for a manual journal entry.

Note: Changes made in Asset Template records to asset "ownership" account, organization, and/or project fields are never posted to the General Ledger. As a result, the capability to create transfer entries is not applicable to Asset Template records.

Select the Transfers check box on the Post Fixed Assets Journal screen to choose to post Transfers entries created by the system as the result of changes made to asset "ownership" account, organization, and/or project fields in Asset master records. These transfers must be posted on the Post Fixed Assets Journal screen in the same month in which the transfer was made.

Accum Depr Acct Code fields

Select this check box to create a transfer entry for posting to the General Ledger when changes are made in Asset Master records to the accumulated depreciation account code field.

Normally, when you change the Accumulated Depr Acct Code, you must also enter a "re-class" journal entry in the General Ledger to record the transfer of accumulated depreciation. If you have selected this check box, the enabled transfer functionality replaces the need for a manual journal entry.

Note: Changes made in Asset Template records to accumulated depreciation account codes are never posted to the General Ledger. As a result, the capability to create transfer entries is not applicable to Asset Template records.

Select the Transfers check box on the Post Fixed Assets Journal screen to post Transfers entries created by the system as the result of changes made to accumulated depreciation account code fields in Asset master records.

System Transfer Entry Options

Use the options in this group box to determine what the system will do when the change in Accumulated Depreciation Account Code involves no change in the associated account, organization, and/or project.

There may be occasions in which you have assigned a different accumulated depreciation account code to a record, but the new code actually uses the same account, organization, and/or project as the old code. (The change may have been made to assign a more meaningful code to the record or for any other reason).

If there is no change to the accumulated depreciation account, organization, and/or project, there is no need for a re-classification journal entry, and therefore no need for the system to create an automatic system transfer entry.

Use the options in this group box to choose whether or not to have the system create a transfer entry for posting from Fixed Assets in this circumstance.

If the change in Accum Depr Acct Code involves NO change in the associated account, organization, and/or project:

Field Description
Do not create a transfer entry

If you select this option, the system will NOT create a transfer entry if there is no change to the accumulated depreciation account, organization, and/or project.

Automatically create a transfer entry

If you select this option, the system will automatically create a transfer entry for posting to the G/L, regardless of whether there was a change to the accumulated depreciation account, organization, and/or project.

Subtask

Subtask Description
Asset/Template Field/Column Names Click this link to open the Asset/Template Field/Column Names subtask.