Business Rules

      The Asset Status Code values must be in parameter CAPITAL_ASSET_STATUS_CODES.

      Retirement entries are generated on the plant fund account. The proper plant fund account number is determined by both the financial object sub-type code and the organization code of the account. Each account number is assigned to an organization, and each organization has been assigned two plant fund account numbers:

The organization plant fund chart and account number is used for movable equipment. This rule applies to financial object sub-type codes contained in parameter PLANT_FUND_ORGANIZATION_OBJECT_SUB_TYPES.

The campus plant fund chart and account number is used for non-movable equipment. This rule applies to the financial object sub-type codes contained in parameter PLANT_FUND_CAMPUS_OBJECT_SUB_TYPES.

      Payments for federally or other-owned assets do not create asset retirement ledger entries. This rule applies to the financial object sub-type codes contained in parameter FEDERAL_OWNED_OBJECT_SUB_TYPES.

      Financial object sub-types contained in parameter LIABILITY_OBJECT_SUB_TYPES are excluded from the aforementioned financial object sub-type codes because it is used to record the liability of the capital lease. The actual asset is created with the appropriate financial object sub-type code.

      Asset status codes become R when the document is approved.

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