Procedures for Capital Asset transactions
- Enter your non-capital transactions and capital transactions on separate documents.
- On the GEC document you can only modify existing assets; you cannot create new assets.
- After you have entered all of your accounting lines, click on Refresh on the Accounting Lines for Capitalization tab before proceeding any further.
- If you need to make a correction in the Accounting Lines, after you have completed the Accounting Lines for Capitalization tab, delete all the capital asset info, refresh, and then re-add the Asset Number.
- If you have multiple target and/or source accounts with Object 9000 and multiple assets to distribute to and you do not want to distribute the accounts evenly between the asset(s), you must process multiple documents. For example, you want to put all $10,000 from account A to asset number 1234 and all $15,000 from account B to asset number 5678, then you must do this transaction in two separate documents.
Modify Capital Assets Tab
- In the Asset Number field in the Modify Capital Assets tab you must enter the KFS Asset Number(not the UCOP tag #). If you don't know what the KFS Asset Number is use the magnifying glass icon to do a lookup.
- You MUST use the Lookup/Add Multiple Capital Asset Lines in the Modify Capital Assets tab if you are going to distribute the accounting lines to more than one capital asset.
- The Modify Capital Assets tab is entered in absolute values. For example, if your total "From" Account A, object 9000 in the Accounting Lines tab is ($25,000) and your total "To" Account B, object 9000 is $25,000, then you must allocate $50,000 in the Modify Capital Assets tab.
- More Information on Processing Capital Asset Transactions on the GEC document.