Business Unit and Responsible Bus. Unit (responsible business unit)

Specify the accounting entity (business unit) that is responsible for the asset's cost or expense. You assign a business unit to an asset. The responsible business unit is used for responsibility reporting purposes.

You can enter numbers and characters in this field. The system right-justifies them (for example, CO123 appears as _ _ _ CO123). You cannot inquire on business units for which you have no authority.

Company Number

Identify the company that owns or is assigned to an asset or group of assets. You set up companies in the system to represent a reporting level that has a complete balance sheet and any intercompany transactions with other companies. You can define a specific organization, entity, partnership, and so on, as a company. You use company numbers and names to define the companies in the system.

Use Company 00000 only for default values, such as dates and automatic accounting instructions (AAIs). You cannot use Company 00000 when entering transactions.

Fiscal Year

Specify the four-digit fiscal year designation. You must always use the year in which the first period ends. For example, a fiscal year beginning October 1, 1998 and ending September 30, 1999 is fiscal year 1998.

Ledger Type and LT (ledger type)

Specify the ledger type user-defined code (UDC) (09/LT) that identifies the account ledger or book for the asset. You can maintain as many sets of depreciation books (ledger types) for an asset as you need so you can depreciate an asset in different ways for different purposes. For example, an asset might have a three-year life for tax purposes, but a five-year life for financial statement purposes. Each set of books can have different depreciation methods and depreciation values.

For Equipment/Plant Management users:

As a minimum setup requirement, you must set up a ledger type of AA (actual amounts).