In your Costpoint Chart of Accounts, set up and link the account combinations (account/organization/project) that you will use in Costpoint Fixed Assets.

If you use reference numbers, set these up as well.

The four types of accounts used in Costpoint Fixed Assets include:

• Asset Accounts: The Account-Organization-Project-Reference1-Reference2 combinations assigned as Asset accounts represent property "ownership." Asset accounts can include balance sheet combinations (for company-owned property), project combinations (for property that should be identified with a contract), and/or expense account combinations (for tracking items not capitalized). A valid asset account combination that consists of an account and an organization (at a minimum) is system-required in both an Asset Master and Asset Template record for all types of property, both depreciable and non-depreciable.

• Depreciation Expense Accounts: The Account-Organization-Project-Reference1-Reference2 combinations set up as Depreciation Expense accounts specify where depreciation expense will be posted for depreciable assets.

  Note: You can allocate depreciation expense for a single asset record to multiple depreciation expense account combinations. As a result, you must set up one or more depreciation expense account allocation codes that define the account combinations(s) and allocation percentage(s) for depreciation expense. Once you have established your "catalog" of depreciation expense account allocation codes, you can "assign" them to depreciable assets on a record-by-record basis, as desired. Item number 12 refers to the setup of depreciation expense account allocation codes.

  A valid depreciation expense account allocation code that maps to at least one combination consisting of an account, and an organization (at a minimum) is system-required in both an Asset Master and Asset Template record for depreciable property.

• Accumulated Depreciation Accounts: The Account-Organization-Project-Reference1-Reference2 combinations set up as Accumulated Depreciation accounts specify where the offset to depreciation expense will be posted for depreciable assets. (These accounts are normally set up as offsets to the balance sheet asset accounts.)

  Note: You must set up an accumulated depreciation account code to represent each Account-Organization-Project-Reference1-Reference2 combination you wish to use. Because many asset records share the same accumulated depreciation account number combination, the ability to identify each combination with a code enhances the efficiency of data entry. Item number 11 discusses the setup of accumulated depreciation account codes.

  A valid accumulated depreciation account code that maps to a combination consisting of an account and an organization (at a minimum) is system-required in both an Asset Master and Asset Template record for depreciable property.

• Gain/Loss Accounts: The Account-Organization-Project-Reference1-Reference2 combinations set up as Gain/Loss accounts specify where gain or loss on the disposition of depreciable assets will be posted. A gain/loss account combination is required when you enter disposal data on the Manage Disposal Transactions screen.

  Note: You can designate a default Gain/Loss account on the Configure Fixed Assets Settings screen.