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Construction in Progress (CIP)

View a system and capital asset card setup required for CIP capital assets.

Construction in Progress Setup Checklist

The following table illustrates the system and capital asset card setup that is required for construction in progress capital assets:

Information Screens Comments
Accounting FA Posting Group Setup a FA posting group for CIP assets.
Basic General Information Fixed Asset Setup

FA Classes

FA Subclasses
Setup the Asset Management FastTab.

Setup a FA class for CIP assets,and link it to FA Class Type "Project".

Create 3 CIP Subclasses: CIP, Preacquisition, Preconstruction .
Capital Assets Fixed Assets Class = CIP

Subclass - assign one of the 3 CIP related codes:
  • Check TCA Expense Posting.
  • Check Multi-Year TCA Expense.
  • Assign the relevant CIP FA Posting Group.
  • Assign the CIP asset as a component to a main asset.

 

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