Location Segments

A location defines the physical site of an asset within the Fixed Assets module. You use locations when you enter assets, process asset transactions, print reports and perform inquiries.

Each location shares a common format called the location format. The segments of the location format contain information about the physical site of an asset. The order in which the segments are displayed is specified by the location format. The location format can contain a maximum of eight segments.

Caution:

When you edit a location format, ensure that nobody is using LN, because the key values are modified.

You can define location segments in the Location Segments (tffam5510m000) session. For each location segment, you must define a set of valid values called segment codes.

A location segment contains segment codes to track information of organization's assets. When you enter assets in LN, you select a segment code for each segment in the location format.

Example you can set up the location segment COUNTRY, and define segment codes by using two characters for each country in which your organization maintains assets. When you enter an asset that is located in the Netherlands, you can select, the segment code NE for the segment COUNTRY.

The segment codes and the segment defaults are defined in the Location Segment and Segment (tffam5100m000) session, and the order of the location format is defined in the Define Location Format (tffam5210m000) session. Example, you can add the location segment BLDG to identify the building in which an asset is located. You would then define a segment code for each specific building in your organization.

Asset Class

The Asset Class (tffam1135m000) session is used to specify the life of the assets which are in a class. The life of an asset determines its recovery period, method of depreciation, and convention. Life of an asset can be specified as a single life value, or as a range of values from which the life can be selected.

If you select ADR ( asset depreciation range) as the account type, you enter the lower class life, midpoint class life, and upper class life for ADR vintage accounts. If you select modified accelerated cost recovery system (MACRS ) as the account type, you enter the alternative depreciation life, general depreciation life, and class life for the MACRS group accounts. An asset class used by a vintage or group account cannot be modified.