Prerequisites

This data setup is required to use rental product as an asset in Financials:

• In the FAM Parameters (tffam0100s000) session:
  • Define the number group and series for the received asset.
  • Activate the received asset functionality for rental products by selecting the Activate option on the Received Assets tab.
  • Define the Capitalization Threshold value, which determines the Action on Processing for a received asset. If the transaction cost of the received asset is more than the Capitalization Threshold value, the application sets the Action on Processing field for the received asset to Capitalize.
  • Define the Transaction Type for Expense, which is used if the received assets must be expensed.
• You can also specify the Capitalization Threshold in the Categories (tffam2500m000) session.
• For serialized and non-serialized items of the type, Rental Product, you can select the Integrates with Fixed Asset Management check box in the Item - Warehousing (whwmd4600m000) session to register the costs in FAM. If this check box is cleared, the transaction value is always posted as costs in the Profit and Loss statement.
• Set up the integration mapping for rental products as an asset:
  • Run the Initialize Mapping Scheme Data (tcfin0210m000) session to create the required integration document types (IDTs), reconciliation group, and mapping elements.
  • Use the Mapping Scheme (tfgld4573m000) session to set up the mapping for the IDTs.
• You can use the Masks functionality to generate the asset code and extension. To use this functionality, you must:
  • Define the Mask Company in the FAM Parameters (tffam0100s000) session.
  • Create a mask for asset code and asset element in the Masks (tcibd4102m000) session.
  • Define the Asset Number Mask and Asset Extension Mask per category in the Categories (tffam2500m000) session.
• You can also define the default values of the Category, Subcategory, and Location Segments of a received asset in the Received Assets Mapping (tffam0125m000) session.