Fixed Asset Type (FATP)

Fixed Asset Type (FATP) defines the major types of fixed assets allowed in the Fixed Asset Subsystem. For each type, a name and short name are defined for use on reports. You must also define two balance sheet accounts: the asset account (land, buildings, etc.) and the accumulated depreciation account.

You must also set Depr Ind to determine whether that type of asset is depreciated. Set Depr Ind to N for land and construction and set to Y for all other types of assets.


Type	Key field. The types recommended by the General Accounting Standards Board (GASB) are: L - land B - buildings I - improvements other than buildings E - equipment and furniture C - construction work in progress Vehicles are maintained in as type V (vehicles).
Name	Optional. Enter the name as you want it to appear on reports, up to 30 characters.
Short Name	Optional. Enter the name that you want to appear on reports when there is insufficient space for the full name.
Account	Required. Enter the balance sheet asset account in which you want this fixed asset recorded.
Accum Depr Account	Conditional. Required for buildings, improvements, equipment and vehicles; ignored for land and construction. Enter a balance sheet account with an account type of 01 (asset) or 11 (asset offset to expenses) on Balance Sheet Account Index (BACC).
Depr Ind	Required. Indicates whether that type of asset is depreciated. Enter N for land and construction; Y for all other asset types.
Date Ind	Default is A (acquisition date). Enter the value that determines the start date for depreciation calculations for this fixed asset type. Valid values are I (in-service date) and A (acquisition date).