Fixed asset classes
Asset class is a reporting metric that is used for grouping your capital assets.
The following list includes examples of the most commonly used capital asset classes:
Buildings
Land and Land Improvements
First Time Equipping
Furniture and Equipment
Computer Hardware and Software
Vehicles
The following are samples of FA Classes for Sparkrock Asset Management implementations:
| Code | Name | Ownership |
|---|---|---|
| 1-BLDG | Buildings | Internal |
| 2-LAND | Land and Land Improvements | Internal |
| 3-EQUI | Furniture and Equipment | Internal |
| 4-COMP | Computer Hardware and Software | Internal |
| 5-VEHL | Vehicles | Internal |
| 6-RMVD | Assets Removed (do not use) | Internal |
| 7-CIPR | Construction in Progress | Internal |
| 8-LEAS | Leased Assets | Internal |
FA Class Type
FA Class Type is a pre-defined list that includes the following values:
Land
Building
Furniture & Equipment
Hardware & Software
Vehicle
General
Project
Lease
When setting up your FA classes, you can use the records in the following table as a model.
| Sort | FA Class Type | Code | Name | Ownership |
|---|---|---|---|---|
| 1 | Building | 1-BLDG | Buildings | Internal |
| 2 | Land | 2-LAND | Land & Land Improvements | Internal |
| 3 | Furniture & Equipment | 3-EQUI | Furniture & Equipment | Internal |
| 4 | Hardware & Software | 4-COMP | Computer Hardware & Software | Internal |
| 5 | Vehicle | 5-VEHL | Vehicles | Internal |
| 6 | Project | 7-CIPR | Construction In Progress | Internal |
| 7 | Lease | 8-LEAS | Leased Assets | Internal |
To create fixed asset classes
Choose
, enter fa classes, and then choose the related link.The FA Classes page opens.
On the action bar, choose New.
A new row appears.
Specify values as required.
CIP/Pre-acquisition
CIP/Pre-acquisition values are assigned only when the FA Class Code is CIPR and are used for reporting purposes to track the reclassification from one stage of the construction of progress to another.
On the Fixed Asset Card page, the CIP/Pre-acquisition field is a pre-defined list that includes the following values:
CIP
Pre-acquisition, for example, survey charges
Pre-Construction, for example, building permits
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