Fixed Assets Control File

Pgm: FACTRLFM – FA Company Control; standard Treeview path: Fixed Assets > Setup > Local Tables > Control File

The Control File screen is used to define parameters that are fixed for all assets in a company. For each company that will be using the Fixed Asset module there must be a record in this file.

Journal Code

The default journal code used when posting transactions. This code is automatically filled in on the posting screen but can be overridden.

Interest Rate

The default interest rate percentage to be used to calculate interest expenses for assets having either fixed or variable interest. This rate can be overridden for individual assets.

Interest Expense Department and Account

The department and account to which interest expenses for non-equipment assets are always posted. There is no way to override them.

Interest Cost Category and Transaction Code

The equipment cost category and transaction code where interest expenses for equipment assets are always posted. There is no way to override them.

Note that these cannot be validated here, but it is necessary to assign this category and transaction code to every piece of equipment for which interest expenses are to be posted.

The transaction code must be entered if interest costs will be applied to equipment.

Interest Offset Department and Account

The department and clearing account to which the offsetting amounts for interest expenses are always posted. There is no way to override them.

License Cost Category and Transaction Code

The equipment cost category and transaction code where license expenses for equipment assets are always posted. There is no way to override them.

Note that these cannot be validated here, but it is necessary to assign this category and transaction code to every piece of equipment for which license expenses are to be posted.

The transaction code must be entered if license costs will be applied to equipment.

License Offset Department and Account

The department and clearing account to which the offsetting amounts for license expenses are always posted. There is no way to override them.

Default Asset Department and Account

The department and account to which asset amounts are posted. The values entered here can be overridden by department and accounts entered in Distribution tab of the Asset Maintenance screen.

Asset Acquisition/Betterment Department and Account

The department and account to which addition and betterment amounts of an asset are posted. The values entered here can be overridden by department and accounts entered in the Distribution tab of the Asset Maintenance screen.

Asset Disposal Department and Account

The department and account to which disposal of asset amounts are posted. The values entered here can be overridden by department and accounts entered in the Distribution tab of the Asset Maintenance screen.