Asset Accounting

This section contains enhancements in Financials and Supply Management.

Update the Asset Types composite form

Updated the allocation navigation, the Product Categories tab, the Asset Type Allocation header, and the Assets tab in Asset Types composite form.

Now the forms and lists in AssetType composite form are correctly aligned.

Create an Asset Type with asset allocations, product categories, and assets. Verify that you can use all of the fields that are available on the list.

JR-3464304

Project Asset Action Titles

Several programs and menu options in Project Capitalization have been updated to these titles:

  • Hold Capitalizable Project Transactions is now Hold Capital Transactions
  • Remove Hold From Capitalizable Project Transactions is now Remove Capital Hold
  • Project Capitalization and Asset Interface is now Project Asset Interface

Verify that you have the updated menu and program titles.

JR-3436979

Controlling the posting date on history transactions

A new History Posting Date field is added to the asset company and the asset book business classes to control the posting date for history transactions.

Initially, the field at Asset Company is set to the "Prior Year End Date" value to retain the existing functionality of the prior year end date as the posting date for history dated transactions. The value is added to Asset Book when a new book is added and can be updated during additions or adjustments to the Asset Book.

Now, the new History Posting Date field value at the Asset Book level can dictate the posting date value for the transactions that are created.

  1. On a released, new or adjusted asset, set the History Posting Date field to Prior Year End Date.
  2. Verify that the created LTD transactions contain a Prior Year End Date as the posting date.
  3. Verify that the Default Posting Date value from the Asset Company is specified on the remaining transactions.
  4. On a released, new or adjusted asset, with the History Posting Date field of Default Posting Date, verify these scenarios:
    1. If unreleased asset transactions exist, verify that the Posting Date default value from the Asset Company is used as Default Posting Date.
    2. Verify that the Posting Date is the same as Adjustment Date.
  5. Test both the online and the Release Assets batch job to validate the changes.

JR-3266836

Create transfer in and out offset transactions for Fund clients

This feature is enabled in the asset company when the new Update Transfer Balancing action is run. The new Transfer Balancing field is updated on the asset company to yes or no. The default and current value is no. The assigned transfer in and transfer out accounts are also added to the Asset Type. These are similar to the Zone Balancing accounts which are assigned to transfer transactions on the From and To side of an asset transfer to balance each side. This new feature will temporarily be limited to Fund clients.

  1. Before enabling this feature, run the Update Event Codes action on the finance enterprise group. Depending on other updates, you may also be advised to run the Update System codes.
  2. Run the Update Transfer Balancing action to enable transfer balancing on the asset. This action is also used to assign transfer in and out accounts to the asset types. All asset types must be provided with balancing accounts before transfer balancing can be turned on so initially, you must assign these balancing accounts while enabling the feature. If you want different balancing accounts by type, these can be maintained after they are assigned using the enable transfer balancing action.
  3. When you perform an asset transfer, the transactions are offset on both the From and To side by replicating them. The transactions are assigned a 'Transfer From or Transfer To Balancing Transaction' reference. Each transaction is assigned the appropriate transfer in or transfer out account. Balancing transactions in general ledger will be assigned the TB event code.
  4. After the transfer balancing is enabled, these balancing transactions allow you to use a distinct balancing account for the asset system rather than using the CB and or ZB event codes. Note that these balancing transactions are created when the transfer is released.

JR-3353195