Class Setup
Overview of FA02
Class Setup enables you to specify how transactions involving a certain type of fixed asset will affect the general ledger. Once fixed-asset classes have been set up here, you will be able to select from these when entering a new fixed asset. Each class includes a means of selecting the G/L accounts to be affected by fixed-asset transactions such as acquisition, depreciation, and disposal. Every transaction category may not necessarily have a G/L account specified, and therefore may not be applicable for a given fixed-asset class.
- From the DDI Connect main menu, double-click Fixed Assets
- Double-click Setup
- Double-click Class Setup. You will see this screen:
Adding a New Class
To add a new class, click the Add button on the toolbar. The fields will activate for editing:
The following fields are available on this screen:
| Field | Description |
|---|---|
| Class code | Enter the class code that you wish to use for the new class |
| Description | Brief, alphanumeric description of the class code |
| Life (Years and Months) | Enter the life span of the asset in years and/or months |
| Property type | Enter the property type code or click the list icon to select from a list of active property types in the system |
| Depreciation method | Enter the depreciation method code or click the list icon to select from a list of active depreciation methods in the system |
| GL Accounts | Enter the GL accounts that are affected by the various fixed asset activity. You can type the applicable GL number or click the list icon to select from a list of active GL numbers in the system |
When you have finished entering the information, click Save to retain your changes.
Copying an Existing Class
To copy an existing class to a new class, click on the class once to highlight and then click the Copy button on the toolbar. Your screen will look like this:
Make the needed changes for the new class, and click Save when you are done.
