Which screens should I set up during initialization and in which order?

The following screens should be set up in the order listed below, as applicable, before you begin to add data for an Asset Master or Asset Template record.

We also recommend that you refer to the more extensive documentation pertaining to each of the Fixed Assets setup items for additional information.

Item	Description
Property Types	Set up required property types on this screen, the Manage Property Types screen. Property types are user-designated property categories, such as personal, real, government, and so on, that are assigned to each asset record. The Property Type field is a system-required validated entry in an Asset Master record (Manage Asset Master Information screen) and on an Asset Template (Manage Asset Template Information screen) if you use this optional feature. The only data from which to choose for entry in the Property Type fields are validated property type codes from this screen, the Manage Property Types.
Classification Codes	Set up required classification codes on the Manage Classification Codes screen. Classification codes are user-designated classification, such as automobiles, computers, equipment, and so on, that are assigned to each asset record. The Classification Code field is a system-required validated entry in an Asset Master record and in an Asset Template  if you use this optional feature. The only data from which to choose for entry in the Classification Code fields are validated classification codes from the Manage Classification Codes screen.
Subclass Codes	Set up optional subclass codes on the Manage Subclass Codes screen. Subclass codes are user-designated sub-categories that can be used to give more If, for example, you had defined "Vehicles" as a classification code, you might define subclass codes as "Trucks," "Automobiles," "Vans," and so on, to enhance the sorting potential for your asset records. The Subclass Code field is an optional validated entry in an Asset Master record and in an Asset Template if you use this optional feature. The only data from which to choose for entry in the Subclass Code fields are validated subclass codes from the Manage Subclass Codes screen.
Depreciation Methods	Set up required depreciation methods on the Manage Depreciation Methods screen if you plan to enter data for depreciable assets. The Depr Method Code field is a system-required validated entry for depreciable records in the G/L book in an Asset Master record and in an Asset Template if you use this optional feature. The Depr Method Code field for your optional other books, as applicable, is also validated against methods from this setup screen. The only data from which to choose for entry in the Depr Method Code fields are validated depreciation method codes from the Manage Depreciation Methods screen.
Asset Master Field Labels	Set up optional location code and government labels on the Manage Asset Master Field Labels screen, as desired. Use the location code and government label and data entry functionality to record additional information that may be specific to your company but for which there are no system-defined standard fields with the desired terminology. Three location labels are available in which to establish user-defined categories, such as "Building," "Room No," "Bin No," and so on. Fifteen government labels are available in which to establish user-defined categories, such as "Contract #," "Funding Source," and so on. You can use the corresponding optional data fields in the Asset Master and Asset Template screens without first establishing labels for these fields. You may find, however, that screen inquiries and reports that use this data are more meaningful when appropriate labels have been designated for these fields.
Location 1, 2 and/or 3 Codes	Set up optional location codes on the Manage Location 1 Codes, Manage Location 2 Codes, and/or Manage Location 3 Codes screens, as desired. Use the location code data entry functionality to record additional location information that may be specific to your company but for which there are no system-defined standard fields with the desired terminology (such as "Building," "Room No.," "Bin No," and so on). Even if you have set up location codes 1, 2, and/or 3, the entry of location code data is optional in the Asset Master and Asset Template screens. If you plan to enter this data, however, the only location codes data from which to choose are validated location codes from the Manage Location 1 Codes, Manage Location 2 Codes, and/or Manage Location 3 Codes screens, as applicable.
Location Groups	Set up optional location groups on the Manage Location Groups screen, as desired. Use the location group functionality to identify and establish sets of location data that you can summarize into location "templates" (such as sites or other specific physical locations). Because many assets often share basic location data, the location group template makes location data entry more efficient in your Asset Master and Asset Template records. Even if you have set up location groups, the Location Group field is optional in the Asset Master and Asset Template screens. If you plan to enter this data, however, the only location groups data from which to choose are validated location groups from the Manage Location Groups screen.
Asset Master User-Defined Labels	Set up optional user-defined field labels on the Manage Asset Master User-Defined Labels screen, as desired. Use the user-defined label and data entry functionality to record additional information that may be specific to your company but for which there are no system-defined standard fields with the desired terminology. You can establish labels for four types of user-defined fields: Date, Numeric, Text, and Validated Text and set up a virtually unlimited number of labels. Unless you have designed a user-defined label as "Required" for data entry in Asset Master and Asset Template screens, user-defined data is normally optional. The use of validated text user-defined fields requires that you either specify the acceptable text options in advance via the Validated Text subtask link or that the validation occur against a user-specified selection from a pre-defined list of Costpoint tables and fields. Although the user-defined field functionality is an optional feature overall, you must set up labels if you plan to enter user-defined data in the Asset Master and Asset Template screens.
Validated Text for User-Defined Fields	If you want to use optional user-defined validated text values, set these up in the Validated Text subtask link of the Manage Asset Master User-Defined Labels screen, as desired. Use validated text values to control the allowable (validated) data that can be entered. You can alternately bypass this subtask link and instead specify that validation occur against a user-specified selection from a pre-defined list of Costpoint tables and fields.
Asset, Depreciation Expense, Accumulated Depreciation, and Gain/Loss Accounts	In your Costpoint Chart of Accounts, set up and link the account combinations in General Ledger screens that you will use in your Asset Master and Asset Template records. If you use reference numbers, set these up as well. The four types of G/L accounts used in Fixed Assets include: Asset Accounts The Acct-Org-Proj-Ref1-Ref2 combinations assigned as Asset accounts represent property "ownership." Asset accounts can include balance sheet combinations (for company-owned property), project combinations (for property that should be identified with a contract), and/or expense account combinations (for tracking items not capitalized). A valid asset account combination that consists of both an account and an organization (at a minimum) is system-required in both an Asset Master and Asset Template record for all types of depreciable and non-depreciable property. Depreciation Expense Accounts The Acct-Org-Proj-Ref1-Ref2 combinations set up as Depreciation Expense accounts specify where depreciation expense will be posted for depreciable assets. You can allocate depreciation expense for a single asset record to multiple depreciation expense account combinations. As a result, you must set up one or more depreciation expense account allocation codes that define the account combinations(s) and allocation percentage(s) for depreciation expense. Once you have established your "catalog" of depreciation expense account allocation codes, you can "assign" them to depreciable assets on a record-by-record basis, as desired. See the item about Depreciation Expense Account Allocation Codes on this list. A valid depreciation expense account allocation code that maps to at least one combination consisting of both an account and an organization (at a minimum) is system-required in both an Asset Master and Asset Template record for depreciable property. Accumulated Depreciation Accounts The Acct-Org-Proj-Ref1-Ref2 combinations set up as Accumulated Depreciation accounts specify where the offset to depreciation expense will be posted for depreciable assets. (These accounts are normally set up as offsets to the balance sheet asset accounts.) You must set up an accumulated depreciation account code to represent each Acct-Org-Proj-Ref1-Ref2 combination to which you will post accumulated depreciation to. Because many asset records share the same accumulated depreciation account number combination, the ability to identify each combination with a code enhances the efficiency of data entry. See the item about the Accumulated Depreciation Account Codes on this list. A valid accumulated depreciation account code that maps to a combination consisting of an account and an organization (at a minimum) is system-required in both an Asset Master and Asset Template record for depreciable property. Gain/Loss Accounts The Acct-Org-Proj-Ref1-Ref2 combinations set up as Gain/Loss accounts specify where gain or loss on the disposition of depreciable assets will be posted. A gain/loss account combination is required when you enter disposal data on the Manage Disposal Transactions screen. You can designate a default Gain/Loss account on the Configure Fixed Assets Settings screen.
Accumulated Depreciation Account Codes	Set up accumulated depreciation account codes on the Manage Accumulated Depreciation Account Codes screen if you plan to enter data for depreciable assets. Each Accum Depr Acct Code specifies an Acct-Org-Proj-Ref1-Ref2 combination, as applicable, to which the offset to depreciation expense will be posted for depreciable assets. The Accum Depr Acct Code field is a system-required validated entry for depreciable assets in an Asset Master record and in an Asset Template if you use this optional feature. The only data from which to choose for entry in the Accum Depr Acct Code field are validated accumulated depreciation account codes from the Manage Accumulated Depreciation Account Codes screen.
Depreciation Expense Account Allocation Codes	Set up depreciation expense account allocation codes on the Manage Depreciation Expense Acct Allocation Codes screen if you plan to enter data for depreciable assets. You can allocate depreciation expense from a single asset record to multiple depreciation expense account combinations, based on percentages. Each Depr Exp Acct Alloc Code specifies the Acct-Org-Proj-Ref1-Ref2 combination(s) and allocation percentage(s) to which depreciation expense will be posted for depreciable assets. Once you have established your "catalog" of depreciation expense account allocation codes, you can "assign" them to depreciable assets on a record-by-record basis, as desired. The Depr Exp Acct Alloc Code field is a system-required validated entry for depreciable assets in an Asset Master record and/or in an Asset Template if you use this optional feature. The only data from which to choose for entry in the Depr Exp Acct Alloc Code field are validated depreciation expense account allocation codes from the Manage Depreciation Expense Acct Allocation Codes screen.
Disposal Types	Set up optional disposal types on the Manage Disposal Types screen to define disposal type codes to link with your asset records when you enter disposal data. You might, for example, set up codes for disposal types such as "Scrapped," "Obsolete," "Stolen," and so on, to enhance the sorting potential for your asset records. The Disposal Type field is an optional validated entry on the Manage Disposal Transactions screen. If you need to enter disposal data directly into an Asset Master record via the Disp Info tab (an infrequently-used procedure), the Disposal Type field is also an optional validated entry on the Manage Asset master Information screen. The only data from which to choose for entry in the Disposal Type field are validated disposal type codes from the Manage Disposal Types screen.
Manage FA Fiscal Years and Manage FA Accounting Periods	Regardless of the Date of Purchase or Fiscal Year basis assigned to your depreciation methods, you must establish your accounting periods and fiscal years in Fixed Assets. The system refers to this data when computing current period or projected depreciation. Three separate screens are available to enable the setup of Fixed Assets FY/period data, as follows: Manage Fixed Assets Fiscal Years Manage Fixed Assets Accounting Periods Update FA FY/Pd Information from GL FY/Pd Information Warning: You should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years in Fixed Assets. If you do not set up this information before you compute depreciation, incorrect data may display in your Asset Master records after the system has computed depreciation. You can manually enter data on the Manage Fixed Assets Fiscal Years and the Manage Fixed Assets Accounting Periods screens or you can use the optional Update FA FY/Pd Information from GL FY/Pd Information utility screen to automatically populate these screens with fiscal year/period data that already existing in your General Ledger. You need not set up future fiscal years and periods in the General Ledger for Fixed Assets use, because functionality for both current and future fiscal year/period data resides in its entirety in Fixed Assets to accommodate the computation of current period and projected depreciation expense. Fiscal year/period data in Fixed Assets is not validated against data in the General Ledger. Although the system permits FY/Pd data in Fixed Assets that is inconsistent with G/L data, use extreme caution when entering different data or editing existing data. To avoid potential Fixed Assets calculation, posting, and closing problems, FY/Pd data in Fixed Assets should be identical to existing data set up for comparable fiscal years/periods in your General Ledger. The system will verify that the current fiscal year and periods from Fixed Assets are consistent with G/L data and will display an information message if this is not true. When posting depreciation/disposal data from Fixed Assets, however, the system will always use the fiscal year/period data from the General Ledger. Special Circumstances: Date of Purchase Basis Depreciation Methodology and the "Catch-Up" Calculation Option If you have assigned a Date of Purchase basis to one or more depreciation methods on the Manage Depreciation Methods screen and you have also selected the "Catch-Up" calculation option on the Configure Fixed Assets Settings screen that adds missed depreciation for prior periods in the current year to the current period depreciation amount, the system displays a soft warning message before computing depreciation. The message will inform you that to ensure the proper calculation of depreciation, you have to make sure that you have first set up historical fiscal year and period data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Period screens. Please refer to the documentation of these screens for additional information. You should set up the data referenced in the warning message on a one-time basis for each year specified in the depreciation start date assigned to your Asset Master records for which there is remaining book value. (Make sure that you INSERT the earlier fiscal years into the Manage Fixed Assets Fiscal Years screen instead of using the New Line function.) Alternately, if you do not want to add historical fiscal year and period data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens, you can change the "Catch-Up" calculation option on the Configure Fixed Assets Settings screen to "Spread" missed depreciation for prior periods among the remaining periods in the current year. Compute/Update Depreciation Computation Data Utility Blanks will display (in the Curr Depr Yr and Days/Pds Remaining fields) in the report produced by running the Compute/Update Depreciation Computation Data utility for any record for which no corresponding FY/Pd data is found on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens for the fiscal year indicated in the Depr Start Date field(s) from Asset Master records. If you plan to use the Compute/Update Depreciation Computation Data utility to verify (and optionally update) data in the Depr Start Date, Curr Depr Yr, and Days/Pds Remaining fields for your historical assets, you must also set up FY/Pd data in Fixed Assets for the historical fiscal years that correspond to the Depr Start Datefield(s) from Asset Master records, as applicable. Projected Depreciation Calculations To compute projected depreciation expense, you must add Fixed Assets fiscal year/accounting period data for each future year for which you will compute projected depreciation expense. Close Fixed Assets Accounting Period and Manage Fixed Assets Fiscal Years/Fixed Assets Accounting Periods screens The process run from the Close Fixed Assets Accounting Period screen can automatically update the Manage Fixed Assets Fiscal Years and Fixed Assets Accounting Periods screens under certain conditions. If the period being closed is the last period of the current Fixed Assets fiscal year (see the Configure Posting Settings screen) and the next fiscal year and accounting periods are already set up in your General Ledger, the system will automatically import the next fiscal year data from the G/L to the Manage Fixed Assets Fiscal Years screen. Additionally, the system will also automatically import the G/L accounting periods and period ending dates for that fiscal year from the G/L to the Manage Fixed Assets Accounting Periods screen.
Configure Fixed Assets Settings	Enter control information in the following critical fields: Books Setup (additional book number(s) and names(s)) Length of Asset Number field Enable Automatic Numbering for Asset Master Records check box System-Wide Configuration for Depreciation Calculations group box System-Wide Configuration for DP Basis Depr Methods group box For more information, please refer to the field-by-field documentation for the Configure Fixed Assets Settings screen. Because these critical fields establish your system configuration for depreciation calculation rules and in many data entry screens, make certain that you first read the documentation for these fields before you finalize your selections. Decide on your configuration options carefully during your initialization planning. In most cases, once you have selected the configuration and have begun depreciating in the system, you cannot change your selection without extensively editing the asset data. If you want to set up a default Gain/Loss account for the G/L Book and/or a default Asset Template at this time, you may do so. Alternately, you can safely add this optional data at any time after initialization.
Configure Posting Settings	Specify the current Fixed Assets fiscal year, period, and subperiod to which depreciation and disposal data will be posted to the General Ledger on the Configure Posting Settings screen. Unlike the rest of Costpoint, there can only be one fiscal year, period, and subperiod designated as current in Fixed Assets. Decisions relative to the field entries on this screen are very important to system processing, and you should be very careful to initialize these fields correctly. You cannot change the data in the Current Fiscal Year and Current Period fields after you have posted depreciation and/or disposal entries to the General Ledger for the first time. You can, however, change the Current Subperiod field at any time, because it relates only to the posting timing. Once data you have entered data in these fields and the first posted to the G/L for the first time, you will need to run a special process to close the Fixed Assets accounting period (Close Fixed Assets Accounting Period). The F/A period close process each period will automatically populate the Current Fiscal Year and Current Period fields with the next sequential data, as applicable. The system will automatically populate the Current Subperiod field on this screen with "1" as the default subperiod. If you have set up more than one subperiod, you can always edit this field to specify in which of your subperiods FA postings should take place. The system validates the fiscal year, period, and subperiod on this screen against existing data in Costpoint General Ledger only during the posting process to the G/L. Although we recommend that the data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens should be consistent with the FY/period data in your G/L, if there is a discrepancy the system will validate against your G/L data. Historical depreciation is usually entered based on a pre-determined "live" date that corresponds with the date that balance sheet amounts were "frozen" for data entry. If your initialization date slips, which is often the case, you should make certain that you adjust the Current Fiscal Year and Current Period fields on this screen (as well as your historical data) before the first posting to the G/L takes place.
Tracking Field Labels	Set up optional labels on the Manage Tracking Field Labels screen, as desired. Use the tracking field label and data entry functionality to optionally enter additional inventory, maintenance, and transfer tracking data for your property records. You can enter optional tracking data on the following screens: Manage Asset Inventory Transactions Manage Asset Maintenance Information Manage Asset Transfer Information Although you can establish the labels at any time, you cannot enter the actual inventory, maintenance, and transfer data for a record until you have added the Asset Master for the record. You can set up inventory tracking labels for up to eight additional user-defined inventory categories, such as "Counted By," "Condition," and so on. You can set up maintenance field labels for up to nine additional user-defined maintenance categories, such as "Type," "Vendor," "Cost," and so on. You can set up transfer tracking labels for up to eight additional user-defined transfer categories, such as "Fld Chngd," "From," "To," "Reason," and so on. You can use the corresponding optional inventory, maintenance, and transfer data fields without first establishing labels for these fields. You may find, however, that screen inquiries and reports that use this data are more meaningful when appropriate labels have been designated for these fields. You will most likely find that the new change/audit trail functions available for transfers in Fixed Assets are more powerful and flexible than the older transfer functions available from the Transfer Records menu. Make sure that you read item, Enable Audit Trail Functionality in this initialization list to determine the capability that will work best for you.
Enable Audit Trail Functionality	You can use the Configure Asset/Template Change Settings screen to select specific actions to be performed by the system when you capture and store change data for fields/columns in the Asset Master and/or Asset Template records. You must first decide if you want the system to capture change data at all and, if so, whether you want to capture change data for Asset Master records, Asset Template records, or both. The system can capture the asset/template record identifier, the name of each changed field, the old data as it existed before the change, the new data after the change, information on the user who performed the change, and the date and time of the change. In order for the system to capture change details, you must select the desired fields/columns in the Asset/Template Field/Column Names subtask of the Configure Asset/Template Change Settings screen before you make changes to Asset Master and/or Asset Template records. Each check box that you select in the Asset/Template Field/Column Names subtask of the Configure Asset/Template Change Settings screen signifies that you want to capture data for that field for an Asset Master and/or Asset Template record each time you make a change to that data, regardless of the screen in which the change was made. Special Circumstances: Table Sizes The tables that store the change data have the potential to become very large, depending on how many fields you select and how many changes you make to Asset Master/Template records. As a result, the default status for all check boxes for all rows in the Asset/Template Field/Column Names subtask of the Configure Asset/Template Change Settings screen have all been initially set to clear. To limit the size of the audit log tables, you will probably select specific check boxes rather than all check boxes. You should capture change data for the fields you consider most significant, such as depreciation method, current period depreciation expense amount, location, and so on. You may decide not to capture change data for more insignificant data changes, such as spelling corrections made to description fields, and so on. Once the change details have been captured, use the View Asset Change History screen to view change data from the Asset Audit Log and the View Template Change History screen to view data from the Template Audit Log. Use the Print Asset/Template Change History Report screen to print change data reports from the Asset Audit Log or the Template Audit Log. If the change storage tables become too large, you can perform a selective purge from the Purge Asset/Template Change History screen. Transfer Functionality You can also use the Configure Asset/Template Change Settings screen to create G/L transfer entries for posting to the General Ledger. With the proper advance setup, the system can generate transfer entries automatically when you make changes to the asset ("ownership") account, organization, and project fields and/or the Accum Depr Acct Code fields in an Asset Master record.
Enable Autocreation Functionality	You can use the autocreation screens in Fixed Assets to manage the setup and functions of the optional autocreation feature. This feature can automatically create Asset Master records by importing data from Purchasing, Receiving, and/or Accounts Payable, thus reducing the need for duplicate data entry in Fixed Assets. To use the autocreation feature, you must perform the following initialization steps: If you are licensed for Purchasing and Receiving, select the preferred asset/item numbering configuration from the Configure Default Autocreation Asset Numbering screen and the preferred defaults on the Configure Autocreation Settings screen. On the Manage Autocreation Accounts screen, enter the Acct-Org-Proj-Ref1-Ref2 combination(s) and/or wild card combination(s) for which it is permissible to create Asset Master records. You must assign a "Receipt" or "Posting" timing code to each row to signify whether data should be captured at time of Receipt or at time of A/P Posting. On the Configure Fixed Assets Settings screen, select the Enable Automatic Numbering for Asset Master Records check box and enter the appropriate data in the Last Asset Number field. Once initialization is complete, you will perform the additional operational steps for autocreation functionality.
Asset Templates	Use the optional template functionality to establish sets of default data for property that shares common characteristics by entering this data on the Manage Asset Template Information screen. A template functions only as the mechanism by which template data can be automatically imported into an Asset Master record. Once the data displays in the Asset Master record (after import), you can edit it on a field-by-field basis, if necessary, and there is no additional functionality for the template. The primary role for the Asset Template is to reduce the amount of repetitive manual data entry in Asset Master records that share mutual attributes. Another important advantage in the Asset Template functionality lies in the ability to incorporate consistent descriptions and data across property records, thus enhancing the quality of tracking and reporting functions within the system.
Compute/Update Depreciation Computation Data	Use this optional utility from the Compute/Update Depreciation Computation Data screen to assist you in verifying the relationship of the Depr Start Date field to the Curr Depr Yr and Days/Pds Remaining fields in your Asset Master records. The relationship of initialization data in these fields is critical to the accurate calculation of depreciation (as is the data in the Amt Taken Purchase YTD field for users whose depreciation methods employ a Date of Purchase basis). This utility should be especially helpful when you are initializing historical data. Data entry in the Curr Depr Yr and Days/Pds Remaining fields in Asset Master records is particularly prone to error due to misinterpretation of the system "rules" for these fields and/or because of missing/inadequate historical data. The Update process is similar to posting routines in that you must first print the report before you can update. Never run the Update process as a matter of routine unless you agree with the system field changes that will take place for each Asset Master record. The Compute/Update Depreciation Computation Data utility produces a report based on the depreciation start date. The system first prints a side-by-side comparison of both the current values displayed in the Asset Master record and the values that the system computed for the Curr Depr Yr and Days/Pds Remaining fields, by book. Once the report has printed, the system displays a message which says that the report has been printed and will ask you if you want to update the data. The update will apply the system-computed vales to the Asset Master records. The process updates the existing data in the Curr Depr Yr and Days/Pds Remaining fields by replacing the existing data with the system-computed values. For new Asset Master records, the system will automatically compute the values in the Curr Depr Yr and Days/Pds Remaining fields (provided you have not entered data in these fields) when depreciation is computed for the first time, based on the date in the Depr Start Date field. Warning: Because the Update portion of this utility will overwrite your existing data with system-generated data, always carefully review and agree with the reported results on a record-by-record basis before updating
Compute/Update Amt Taken Purchase YTD	Use this optional utility from the Compute/Update Amount Taken Purchase Year-To-Date screen to assist you in verifying  the relationship of the value in the Amt Taken Purchase YTD field to the value in the Curr Depr Yr and Days/Pds Remaining field. This utility will verify/update Asset Master data only for books in which the assigned depreciation method uses a Date of Purchase basis and whose depreciation start date is before the current Fixed Assets posting Fiscal Year, Period, and Subperiod. (For assets in the first period of a purchase year, the Amount Taken Purchase YTD value will be automatically display as zero.) This utility should be especially helpful when you are initializing historical data. Data entry in the Amt Taken Purchase YTD field in Asset Master records is particularly prone to error due to misinterpretation of the system "rules" for this field and/or because of missing/inadequate historical data. Initialization data in the Amt Taken Purchase YTD field is critical to the accurate calculation of depreciation (as is the data in the Curr Depr Yr and Days/Pds Remaining fields). The verify and update portions of this utility follow methodologies similar to those on the Compute/Update Depreciation Computation Data utility, except that this utility computes and compares values in the Amt Taken Purchase YTD field in Asset Master records (instead of the Curr Depr Yr and Days/Pds Remaining fields). For new Asset Master records, the system will automatically initialize and update the values in the Amt Taken Purchase YTD field in Asset Master records (provided you have not entered data in these fields) when you close the current accounting period. Warning: Because the Update portion of this utility will overwrite your existing data with system-generated data, always carefully review and agree with the reported results on a record-by-record basis before updating