Business Rules
• The Asset Status Code values must be A, C, S, or U.
• Retirement entries are generated on the plant fund account. The proper plant fund account number is determined by both the financial object sub-type code and the organization code of the account. Each account number is assigned to an organization, and each organization has been assigned two plant fund account numbers:
The organization plant fund account is used for movable equipment. When financial object sub-type code is:
o CM - capital equipment university funded
o CF - capital equipment federally funded
o C1 - capital lease equipment above threshold
o C2 - capital lease equipment below threshold
o ES - equipment Start-up (not used)
o UC - movable fabrication university funded
o UF - movable fabrication federally funded
The campus plant fund account is used for non-movable equipment. When financial object sub-type code is:
o AM - art & museum objects
o BD - buildings
o BF - buildings federally funded
o BI - bond issuance
o BR - building improvements and renovations university funded (not used)
o BY - building improvements and renovations federally funded (not used)
o CP - construction in progress (not used)
o IF - infrastructure
o LA - land
o LE - leasehold improvements
o LI - library books
o LF - library books federally funded
o LR - land improvements
• Payments with federally or other owned will not create asset retirement ledger entries. Ledger entries are not generated as they are designated as federally, or other owned when financial object sub-type code is:
o CO - capital equipment federally, or other owned
o UO - movable fabrication federally owned
o BX - building improvements and renovations federally owned
• Financial object sub-type code 'CL - Capital' lease purchases is excluded from the aforementioned financial object sub-type codes because it is used to record the liability of the capital lease. The actual asset is created with the appropriate financial object sub-type code (i.e., 'CM,' 'CF,' 'CO.')
• Asset status codes become 'R' when the document is approved.
Routing