Movable, fabricated equipment are assets created by a university or an institution. The Asset Fabrication document creates an Asset record that describes each of these constructed asset. 'Construction in progress' assets are identified by a specific asset type code. The Capital Asset Office assigns the in-service date and changes the asset type code from 'construction in progress' to an asset type code with a depreciable life. At that point the asset begins to depreciate (from an accounting perspective).
After a fabrication has been approved, the asset number must be referenced on all related PURAP transactions. Requisitions for fabricated equipment should have the Capital Asset System Type set to 'One System' and the Capital Asset System State set to 'Modify Existing' in the Capital Asset tab on requisitions and purchase orders. These settings allow the requisition initiator to enter the fabrication asset number(s) to which the line items should be applied. To complete the information on the Capital Asset tab, each line item must be assigned a Capital Asset Transaction Type of 'fabrication' on the requisitions and purchase orders. The system will use the capital asset transition type to ensure that the line item is assigned a fabrication object code. Then, as related invoices are processed in the Capital Asset Builder (CAB), the payments are applied to the fabrication asset number(s). This capital asset system type can be found on the Capital Asset tab on requisitions and purchase orders.
The Asset Fabrication Maintenance document is also used to
create 'control assets.' Control assets are used to post payments that are:
They can be identified by the asset type code of 1000 (control asset).
When the user selects Asset Fabrication from the Capital Asset Management submenu group in the Lookup and Maintenance submenu on the Main Menu tab, the system displays the AssetFabricationMaintenance document.