Business Rules

The asset status code must be either A, C, S, or U for capital assets; the entry must be N or D for non-capital assets.

Transfer 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 the following financial object sub-type codes:

o CM - capital equipment university funded

o CF - capital equipment federally funded

o C1 - capital lease equipment above threshold

o C2 - capital lease equipment below threshold

o ES - equipment Start-up (not used)

o UC - movable fabrication university funded

o UF - movable fabrication federally funded

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

o AM - art & museum objects

o BD - buildings

o BF - buildings federally funded

o BI - bond issuance

o BR - building improvements and renovations university funded (not used)

o BY - building improvements and renovations federally funded (not used)

o CP - construction in progress (not used)

o IF - infrastructure

o LA - land

o LE - leasehold improvements

o LI - library books

o LF - library books federally funded

o LR - land improvements

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

o CO - capital equipment federally, or other owned

o UO - movable fabrication federally owned

o BX - building improvements and renovations federally owned

Financial object sub-type code 'CL - Capital' lease purchases is 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 (i.e., 'CM,' 'CF,' 'CO.')

Offsetting payments are created for existing payments. New payments are created using the (receiving) account number. The document type is set to 'AT,' and the payment document number is assigned to the asset transfer document number.

Original payment and the offset payment will have the transfer payment code set to 'Y.' The payment for the new (receiving account) will have the transfer payment code set to 'N.' The 'Y' code allows the old payments to be excluded from depreciation.

The owner organization chart code, account, organization, and location fields for the asset are updated.

The last inventory date is updated to the date the Asset Transfer document was approved.

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