Construction in Progress (CIP)

Modified on Sat, 20 Jul at 10:26 AM

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.