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.

 

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