Manage Property Types

Use this screen to define the categories and descriptions for the types of property that are specifically associated with your asset records, such as "Personal," "Real," "Government," and so on.

A property type code is system-required in an Asset Master record (and in an Asset Template record if you use this optional feature). The system will validate your property type entry in master records against data from this screen.

You should set up property type data on this screen as one of the first steps in the initialization process, before you begin to add asset data, since the property code is a system-required field in both an Asset Master record and an Asset Template record. Refer to a related topic, Initialization Procedures, for additional information.

The system will validate all property type data entered in Asset Master and Asset Template screens against the setup data from this screen.

Use caution in the timing of your edits to this screen, which may affect the types of records included in system reports.

Note: The setup data on this screen is effective across all companies and is not company-specific. If you have set up multiple companies in Costpoint, all companies can enter, view, and use the data on this screen.

If you have multiple companies and you need property types that are specific to one company that should not be used by other companies, you should create the special-purpose property types in addition to those codes that will be used by all companies. Because this is a "Corporate" table for use by all companies and the system cannot therefore enforce company-specific rules, you should establish specific internal control procedures on the use of property types in these circumstances.

The property type codes you enter on this screen are used for data entry in the Property Type fields of the Manage Asset Master Information, Manage Asset Description Information and/or the Manage Asset Template Information screens.

Note: If a property type code from this screen is currently in use, by either an Asset Master record or an Asset Template record, you cannot delete that code from this screen. If you want to delete it, you must assign a different code in the applicable records. When the property type code is no longer in use, you can delete it from this screen.

You should set up property type data in this screen as one of the first steps in the initialization process before you begin to add data in an Asset Master or Asset Template record. Although you can add to, delete, or change the information in this screen at any time, use caution in the timing of your edits, which may affect the types of records included in system reports.