Designation Codes

Access this form using Maintain>Fixed Assets>Designation Codes.

Use this form to set up Acquisition, Location, Responsibility, and Valuation codes. Enter the Code Type, Code, Status, and Description to create a designation code. These codes are used later when creating assets (Maintain>Fixed Assets>Assets).

Designation Codes track the value of the asset, how you acquired the asset, where the asset is located, and the party or parties responsible for the assets' custody. Designation Codes are optional, but we do recommend using them for reporting purposes.

Code Type: Select one of the four types of designation codes-Acquisition (A), Location (L), Responsibility (R), or Valuation (V).

• Acquisition Code - An acquisition code can be used to represent a group of assets acquired at the same time. For example, you create a code for all assets purchased during a fiscal year. You might also create codes for assets that were purchased, donated, or exchanged.
• Responsibility Code - A responsibility code is used to represent the group or person responsible for the asset (such as Administration Department or Controller).
• Valuation Code - A valuation code represents the method used to determine the value of the asset, such as cost, donation, and fair market value.
• Location Code - A location code is used to represent the location of an asset. You may want to group all assets at your Boston office separately from assets at your New York office.

Code: Enter a unique ID to represent the designation code you are setting up. For example, you might set up an ACQ code named 1999 to represent all of the fixed assets acquired in the fiscal year 1999. We recommend using all numeric codes. Numeric codes are generally easier and faster to enter during transaction entry. We also recommend limiting your entry to strictly alphabetic characters (A through Z) or numeric characters (0 through 9), and avoiding the use of symbols.

Status: Specify the status of the Code Type. When creating a new code, accept the default status, A (Active), or select I (Inactive) or D (Discontinued) from the drop-down list. Below are valid status entries and their descriptions:

• Active (A) - Set a type to active when you want to use it throughout the system. Active types appear on reports.
• Inactive (I) - Set a type to inactive when you do not want to use it regularly, but still may need to use it at some point. A warning message appears when you attempt to use an inactive type. The warning message is for notification only; you can still use the type throughout the system. Inactive types appear on reports.
• Discontinued (D) - Designate a type as discontinued when you no longer use it. You cannot select a type with a discontinued status; however, discontinued types appear on reports.

Description: Enter or change the description for the designation code.

To print the data entered on this form, use Reports>Fixed Assets>Designation Codes.