Fixed Assets Business Rules

Business rules define organization-wide settings for fixed asset entry and transactions. They affect every user and are typically set by a system administrator. To review related fixed asset setup options, see Fixed Asset Settings.

General

Use General business rules to control budget checks, account use, and default account numbers:

• Under Budget Check, select Only check budgets for income statement accounts to limit checks to revenue and expense accounts. Then select a budget scenario to check spending against the budget.

• Under Accounts, set whether non-bank transactions can use cash accounts, how to handle account spending over budget, and whether to allow transactions for accounts with no budget.

• Under Project, set project budget requirements, how to handle spending over budget, and whether to allow transactions for projects with no budget.

• Under Grants, set grant budget requirements and how to handle grant spending over budget.

• Under General ledger, set whether users can change a default account number to one that is already in use.

Note: We recommend that you don't allow non-bank transactions to use cash accounts.

Assets

Set asset ID rules and duplicate checks to keep asset records consistent:

• Select Automatically generate new asset IDs to create IDs when you add assets, then specify the first ID to use.

• Set Number of characters to control the length of new asset IDs.

• Select Prevent data entry to the asset ID field to lock asset IDs and prevent edits. This helps prevent missing or duplicate IDs.

• Under Duplicate asset criteria, select the fields used to identify duplicate records in queries and duplicate asset reports.

• Select Automatically check for duplicate assets to search for duplicates when you save a new asset.

Transaction

Select Exclude 'Do not post' as a post status to remove Do not post as a status option for fixed asset transactions.