Designation Codes
Designation codes are used to track non-financial information on your assets. Designation codes do not impact your general ledger or any other account - they're only used for reporting purposes. While not required, we recommend using designation codes to assist you in reporting and tracking your assets.
From this page, you can:
There are four types of Designation Codes:
Acquisition Code: Use an Acquisition-type code to track a group of assets acquired at the same time. For example, you can create a code for all assets purchased during a fiscal year. You might also create codes for assets that were purchased, donated, or exchanged.
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Ex: An acquisition-type designation code named “DON”, used for assets that were donated to your organization.
Responsibility Code: Use a Responsibility-type code to track the group or person responsible for the asset.
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Ex: A responsibility-type designation code named “ProgSvcs” to indicate the asset is the responsibility of your Program Services department, or a code named “Public” to indicate the asset belongs to the Public Relations department.
Valuation Code: Use a Valuation-type code to represent the method used to determine the value of the asset, such as cost, donation, and fair market value. Valuation codes follow GAP guidance.
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Ex: A valuation-type designation code named "FMT" for Fair Market Value, or "CST" for At Cost.
Location Code: Use a Location-type code to track the location of an asset.
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Ex: Two location-type designation codes named “BOS” and “NYC” to group all assets at your Boston office separately from assets at your New York office.
Add / Edit Designation Codes
To add a new designation code, select Add Designation Code.
To edit an existing designation code, select it from the grid.
Code Type: Choose from four types of designation codes: Acquisition, Responsibility, Valuation, or Location.
Code: Enter a unique ID for this designation code. In the examples above, these would be “DON”, “ProgSvcs”, “BOS”, and “NYC”.
Status: Select a status for this designation code from Active, Inactive, or Discontinued.
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Set a designation code to Active when you want to use it throughout the system. Active codes appear on reports.
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Set a designation code to Inactive when you don’t want to use it regularly, but may still need to use it at some point. A warning message will appear when you attempt to use an inactive code.
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Set a designation code to Discontinued when you no longer use it. You won’t be able to select a discontinued designation code when adding a new asset to the system – however, the code will still appear on reports.
Description: Enter a description for the designation code.
Once you're finished with your edits, Save your changes.
Delete Designation Codes
Before deleting a record, ensure you’ve selected the correct record you want to remove from the system. Deletion is permanent and cannot be undone.
