Please use these instructions to create a new asset class within the fixed asset module.
From the fixed assets overview menu, select Asset Type.
Once in the asset classes listing, select New Asset Class in the upper left corner as shown here.
In the first tab, enter the name of your new asset class, in addition to the asset code that will be associated with the new class.
You can also opt to put a manager in charge of the new asset class. Select whether or not the class is active.
You can opt to have a non-depreciating asset class. NOTE: Check the Do Not Depreciate check box if this is an asset class you only wish to track (might be for items below your capitalization threshold) or if this is land, since land is non-depreciable.
Depreciation Rules tab (if applicable): If you will depreciate the assets in the class, select the depreciation convention and method you want the system to track for the asset. Indicate the number of periods to depreciate over (life of assets in class).
Accounting Rules tab: Select the GL accounts that will be affected by assets in this class.
