Fixed Assets
OVERVIEW
Fixed Assets (Asset Management) allows Departments within the State of Colorado to manage and track their fixed (capital) assets throughout their life cycle. The life cycle of a fixed asset begins with the acquisition of a fixed asset, includes any maintenance, improvements, modifications or transfer transactions that occur during the life of the asset, accounts for the depreciation of the asset and ends with the disposal of the asset. The Asset Management module can also be used to track assets that by definition are not fixed or capital assets, but are called Memo Assets because they are significant in nature to warrant tracking.
Acquisitions
A fixed asset acquisition document may be generated by the system or by hand. If the document is generated by the system it will have the prefix SHEL in the document number. This area focuses on processing CORE documents to book fixed asset acquisitions.Construction in Process (CIP) Assets
CIP is construction in progress. CIP does not depreciate during the Construction phase however, it does gather all the capitalizable costs into an asset that can be put into service and then depreciated from the in service date going forward.