CAMS Date fields

In a Nutshell

• The In-Service Date and the Asset Depreciation Convention table determine the Depreciation date.
  • The Depreciation Date = the In-Service Date, unless the object sub type is in the Asset Depreciation Convention table. If the object sub-type is in the table with
    • Half Year (HY) convention - Depreciation Date = 01/01
    • Full Year (FY) convention - Depreciation Date = 07/01
    • Straight Line (SL) convention - In Service Date - do not add the sub-type to the Asset Depreciation Convention table in order to trigger Straight Line depreciation. 
• The Posted Date on the MPAY and Asset Global (Add) determines the Fiscal Year and Period on the Asset Payment - it should be set to the date that the transaction posted to the GL so that GL and CAM match.
• The Create Date determines the Fiscal Year and Period on the Asset Detail tab.

Asset Global (Add)  - New Asset

The Accounting Period dropdown determines in which fiscal period any General Ledger Entries created by the Asset Global (Add) document will post. Add AA and ARG (if desired) to parameter FISCAL_PERIOD_SELECTION_DOCUMENT_TYPES and Permission Edit Accounting Period to the appropriate role. 

The only editable date field on Asset Global Add is "Create Date" 

• Last Inventory Date defaults to the date the document is created. 
• Create Date defaults to today's date and can be changed.
• In-Service Date defaults to the Create Date. The In-Service date can be updated after the Asset is created using the Asset edit document.  You can also use an Asset Type that will not depreciate if it's something that will have several payments added before it can be placed in to service. At that time you would change the Asset Type to a depreciable Asset Type and set the In-service date to the date it was placed into service. 
• Depreciation Date is set based on the In-Service date. If the Object Sub Type is in the Asset Depreciation Convention, the date will be set based on HY (01/01) or FY (07/01), if the Object Sub Type is not in the Asset Depreciation Convention table, the Depreciation Date will be the In-Service Date and will depreciate using the straight line convention. When the Inservice Date is changed, the Depreciation Date will update as well. 

In the following example, the AA document was created on 03/15/2021, the Create Date was changed to 12/15/2020, which set the In-Service Date to 12/15/2020 and because the object sub-type is in the Asset Depreciation Convention table with HY convention, the Depreciation Date = 1/1/21.