Posting Fixed Assets and Prepaids

Beginning with CAMS-ii version 4.6.0, the system does not post an item where the Next Posting Date is later than the posting date selected by the user.

For example, if the user posts Fixed Assets on 02/25/2013, then all Fixed Assets that have a Next Posting Date later than 02/25/2013 are not posted.

The reason for this change is two-fold:

1. This should prevent you from inadvertently posting multiple times in one month.




2. This gives you the opportunity to enter the Fixed Asset or Prepaid information of a newly purchased item, but not actually start expensing/depreciating until sometime in the future.

For example, if a Credit Union purchased a new PC for a teller workstation in April but did not start using that PC until June, the credit union could enter the purchase information in the Fixed Asset system. This allows the credit union to truly balance its books. The teller could enter a date of 06/20/2013 in the Next Posting Date field, and the system would not start depreciating the item until after that June 20th date.

The system allows the posting of the Fixed Assets and Prepaids for the current accounting period until the 5th day of the month following the current accounting period.

This also applies to the Standard/Repeating items that are not On Demand.