Set up Construction In Progress (CIP) capital assets

The following table illustrates the setup that is required for Construction In Progress (CIP) capital assets.

Information Sparkrock 365 Pages Comments
Accounting FA Posting Group Setup a FA posting group for CIP assets.
Basic General Information Fixed Asset Setup

FA Classes

FA Subclasses		 Setup the Asset Management FastTab.

Setup a FA class for CIP assets, and then link the FA Class to the FA Class Type of Project.

Create 3 CIP Subclasses:
  • CIP
  • Preacquisition
  • Preconstruction
Capital Assets Fixed Assets Class = CIP

Subclass: Assign one of the 3 CIP related codes:
  • Check TCA Expense Posting.
  • Check Multi-Year TCA Expense.
  • Assign the relevant CIP FA Posting Group.
  • Assign the CIP asset as a component to a main asset.

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