Business Rules

      The asset must be an active asset. The asset status must be defined in parameter CAPITAL_ASSET_STATUS_CODES and not be in RETIRED_STATUS_CODES. If the asset is retired, the user cannot select the Asset Payments document from the Action column or enter the Asset in the Assets tab.

      A payment document cannot be issued against an asset with a pending document, including any of the following:

Financial documents: General Error Correction, Year End General Error Corrections, Distribution of Income/Expense, Year End Distribution of Income Expense, Procurement Card, Cash Receipt, Service Billing, and the Internal Billing document.

CAB/PURAP documents: Payment Request, Credit Memo

Capital asset management documents: Transfer, Retirement, Merge, Separate

      When the object code on the payment is not in agreement with the object code of previously processed payments, a warning alerts the user. Object codes should be within the same asset category.

      A warning is presented when the chart, account and object code on the payment matches an existing payment on the asset. This warning is provided to allow the user to associate payments together in the event the new payment is cancelling out an existing payment. Linking the payments together sets both Asset Payment Transfer codes to Y.

      Payments returned for an asset must equal the payment being applied for that asset.

      Future posting dates are not allowed.

      Asset Transfer Payment Code is set to N, if the payment is not associated with an existing payment.

      Ledger entries to reverse accumulated depreciation will be created when the new asset payment is linked to an existing asset payment.

      The current period depreciation bucket of the original payment will be set to a negative amount of accumulated depreciation; the current period depreciation bucket will be set to a positive amount of the accumulated depreciation from the original payment. The two buckets will zero each other out.

      Asset Allocation Amount fields must be greater than zero when Distribute Cost by Amount is selected.

More:

Asset Retirement Global