Use the Asset Categories tab to define asset types, along with the default values for useful life and any additional subcategories for categorizing assets. You'll also define the depreciation, asset, and accumulated depreciation controlling element values for each category.
When you link an asset to an asset category in Asset Management, AptaFund assigns the controlling element values associated with the category to that asset. Then when the asset is accepted, depreciated, or disposed, the elements are used in the transaction — along with the Investment in Capital Assets balancing account and the Capital Assets Tracking fund, as required.
Categories are automatically enabled when they are added.
Categories become active when they are linked to an asset entry in Asset Management.
Once active, categories can no longer be deleted. You can disable them, but they'll remain in AptaFund for record keeping purposes.
You can edit, disable, and enable categories in either the active or inactive state, but they can only be deleted in the inactive state.
Return to Capital Assets Configuration Overview
Version
4.1 © 2020 - Harris School Solutions - All rights reserved