Default Accounts in Fixed Assets

Default accounts provide flexibility in designating accounts for particular transactions. You can set default accounts that automatically balance by fund and segment when you enter debit accounts, or you can specify an account hierarchy with a primary default account and several secondary default accounts to use in certain circumstances.

In Fixed Assets, you can set up default accounts for accumulated depreciation, disposal gain, disposal loss, disposal proceeds, fixed asset credit, and reclassification accounts for balancing assets by segment, transaction codes, or projects.

  1. Select the default account to use for accumulated depreciation. You can select a single account or multiple accounts.

  • If you select a Single account, it automatically balances by fund and segment.

  • If you select Multiple accounts, you can create a default account using the fund segments selected. If left blank, segments default from the accumulated depreciation account.

  1. Select the default account to use for fixed asset disposal gains. You can select a single account or multiple accounts.

  • If you select a Single account, one account is used for all assets.

  • If you select Multiple accounts, you can create a default account using the fund segments selected. If left blank, segments default from the disposal gain account.

  1. Select the default account to use for fixed asset disposal losses. You can select a single account or multiple accounts.

  • If you select a Single account, one account is used for all assets.

  • If you select Multiple accounts, you can create a default account using the fund segments selected. If left blank, segments default from the disposal loss account.

  1. Select the default account to use for fixed asset disposal proceeds. You can select a single account or multiple accounts.

  • If you select a Single account, one account is used for all assets.

  • If you select Multiple accounts, you can create a default account using the fund segments selected. If left blank, segments default from the disposal proceeds account.

  1. Select the default account to use for fixed asset credits. You can select a single account or multiple accounts.

  • If you select a Single account, one account is used for all assets.

  • If you select Multiple accounts, you can create a default account using the fund segments selected. If left blank, segments default from the fixed asset credit account.

  1. Select the default account to use in distributions. You create the default account using the fund segments selected. If left blank, segments default from the reclassification account.