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.

Dispositions

FD - Records the retirement of asset, the depreciation of the asset, offsets the revenue from the sale of the asset, and recognizes any gain or loss. FP - Records a change in the sales price of a disposed asset. FS - Performs the disposition of the fixed asset for the seller and the acquisition of the fixed asset for the buyer.

Inventory

FM - Allow descriptive (non-accounting) changes or adjustments to existing assets or components with the Event type FA05

Warranties

FRM - Records Warrant and Repair & Maintenance information.